Steering Sector Shaft Market Projected to Garner Significant Revenues by 2021 – 2031 -end

Steering shaft manufacturers focuses on producing steering shaft to cater to different market demand from commercial heavy vehicle to a small vehicle. The introduction of a new variant in the market of steering shaft market supported the demand for the steering shafts. Besides, manufacturers are becoming more specific while production of the shaft.

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How New Technologies are Transforming Steering Sector Shaft Market?

Steering shaft sector technology has significantly changed in the last few years. Germany is focusing on developing steering shaft for SUV passenger vehicle due to its increasing demand in the market. Heavy vehicle manufacturers have collaborated with German companies to produce steering shaft with a hydraulic pump to absorb more pressure. This will lead the automobile industry towards making heavy vehicles more comforting. Additionally, this segment has gained pace with providing different products. Steering wheel speed sensors garner the sports car market, due to their sensor which provides details about the speed. Most of the manufacturers are using such sensors in the luxury car segment, to capture more market share.

Segmentation of Steering Sector Shaft Market

Based on the type, steering sector shaft market can be segmented into:

• Double D
• Splined
• Smooth

Based on the material, steering sector shaft market can be segmented into:

• Steel shaft
• Aluminum shaft

Based on the Vehicle type, steering sector shaft market can be segmented into:

• Passenger vehicle
  • Hatchback
  • Sedan
  • SUV/MPV
• Commercial vehicle
  • Light commercial vehicle
  • Heavy commercial vehicle

Based on the technology type, steering sector shaft market can be segmented into:

• Manual
• EPS
• Electro-Hydraulic Power Steering (EHPS)
• Hydraulic Power Steering (HPS)

Based on the Component type, steering sector shaft market can be segmented into:

• Steering Wheel Speed Sensor
• Hydraulic Pump
• Steering Column
• Electric motor

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What are the Key Player Doing in Steering Sector Shaft Market?

Most of the manufacturers of steering shafts are based in

• Japan
• U.S.
• Germany.

The global steering shaft market is dominated by players such as

• JTEKT Corporation
• Robert Bosch Automotive Steering GMBH
• ZF TRW, NSK Ltd.
• Nexteer Automotive Group

To expand their market even further these companies focus on associating with more automotive industries and local players to expand and broaden their market presence.

The Steering Sector ShaftMarket report answers important questions which include:

• What does the status of the Steering Sector ShaftMarket look like after the forecast period?
• Which region has the highest contribution to the global Steering Sector ShaftMarket and why?
• Which players remain at the top of the global Steering Sector ShaftMarket?
• What opportunities are available for the Steering Sector ShaftMarket players to expand their production footprint?
• Which segment has the maximum impact on the global Steering Sector ShaftMarket?

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