Medium and Heavy-Duty Truck Steering System Market Research Report 2019 Elaborate Analysis with Growth Forecast To 2027|Hyundai Mobis, JTEKT, NSK, Showa, Thyssenkrupp, Bosch Steering Systems
the Global Medium and heavy-duty truck steering system market is accounted for $2.40 million in 2017 and is expected to reach $3.36 million by 2026 growing at a CAGR of 3.8% during the forecast period. The rising need for improved commercial vehicle protection, performance and truck driver comfort in medium and heavy-duty trucks are some of the key factors which are driving the market growth. However, growing the price of latest trucks is restraining the market growth.
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Heavy duty trucks appear under heavy duty commercial vehicles and are used for cargo shipping, logistics operations, construction, mining, and agricultural fields for diverse function. These trucks find appliance in the industry such as logistics, manufacture, and others. Demand for heavy duty trucks, has been witness a notable climb.
Based on Application, Medium Duty Truck is used for a selection of lighter responsibility applications. Medium duty trucks also contain a lower fuel economy than heavy duty trucks, manufacturing them the ultimate choice for certain lighter applications. Drivers desire to use medium duty trucks for their garbage truck requirements owing to the fixed turning radius and high visibility that is helpful while their route requires them to navigate Neighbourhood Street. By Geography, Asia Pacific region is likely to direct through the estimate period. China, India, Thailand, Indonesia and other developing country are considering a rising demand for medium and heavy-duty trucks.
Some of the key players profiled in the Medium and heavy-duty truck steering system Market include Hyundai Mobis, JTEKT, NSK, Showa, Thyssenkrupp, Bosch Steering Systems, Knorr Bremse (Bendix)/Tedrive Steering, RH Sheppard, ZF TRW, Nexteer Automotive, Mando, and WABCO.
Products Covered:
– Electric Power Steering
– Electro-Hydraulic Power Steering
– Hydraulic Power Steering
Applications Covered:
– Medium-Duty Truck
– Heavy-Duty Truck
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