DUBLIN, November 22, 2017 /PRNewswire/ --
The "Global Automotive Steering Pump Market 2017-2021" report has been added to Research and Markets' offering.
The analysts forecast the global automotive steering pump market to grow at a CAGR of 7.62% during the period 2017-2021.
Global Automotive Steering Pump Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is electrification of mechanical components. Implementation of regulations and emission norms to limit the carbon footprint of vehicles has caused the automakers to electrify mechanical parts. Electrification reduces the load on the engine, which, in turn, increases its efficiency and reduces the engine temperature.
According to the report, one driver in the market is high penetration of HPS in the commercial vehicle segment. The presence of EPS system in M&HCVs is negligible as the conventional hydraulic-based steering systems are predominantly used in them. Most commercial vehicles still use the hydraulic or the electrohydraulic steering system as the electric power steering system has not been able to cross the 15kN barrier, and the steering power required by a commercial vehicle is higher compared to a standard passenger car. A standard passenger car carries approximately 750Kg on the axle, but heavy trucks can carry about 7,500 Kg.
Further, the report states that one challenge in the market is increasing adoption of EPS systems. Compared to conventional HPS systems, EPS systems improve the vehicle's fuel economy by 2.5%, as they do not use drive belts, hoses fluids, and pulleys. EPS systems are compact and lightweight in comparison to hydraulic systems. EHPS system is another alternative of HPS system, which does not require engine power to run; it is driven by power from the battery. Unlike the HPS system, which is continuously operated using the belt-driven power from the engine, the EPS motor is powered only when required.
- Electrification of mechanical components
- Demand for EHPS system in HCVs
- Increasing adoption of steer-by-wire technology
Other prominent vendors
- Melling Tool Company
- Hitachi Automotive Systems Americas
- Power Steering Associates
- JTEKT Corporation
- ATS Automation Tooling Systems
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By Product
Part 07: Regional Landscape
Part 08: Decision Framework
Part 09: Drivers And Challenges
Part 10: Market Trends
Part 11: Vendor Landscape
Part 12: Key Vendor Analysis
Part 13: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/tg3jbn/global_automotive
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