Report
Description
A recent market intelligence report that is published by Data
Insights Partner on Commercial Vehicle (CV) Active Power Steering Market makes an offering of in-depth analysis of segments and
sub-segments in the regional and international. The research study also
emphasizes on the impact of restraints, drivers, and macro indicators on the regional
and world Commercial Vehicle (CV) Active Power Steering Market over the short as well as long period of time. A
detailed presentation of forecast, trends, and dollar values of international Commercial
Vehicle (CV) Active Power Steering Market is offered.
Market
Insights:
In accordance with the report, the Commercial Vehicle
(CV) Active Power Steering Market is projected to expand at a CAGR of 12.25% over the period of forecast. The global Commercial Vehicle (CV) Active Power
Steering Market was valued at USD XX.X Mn in 2019 and is expected to reach USD
XX.X Mn in 2031, growing with a significant CAGR rate during the forecast
period. In order to reduce the effort required to move the steering wheels when
travelling at average speeds, commercial vehicles (CV) with active power
steering systems boost controlled energy to the steering mechanism. In heavy
commercial vehicles with active power steering, the physical effort required to
turn the wheel when the vehicle is stopped or moving is reduced. During the
forecast period, advanced assistance power steering functions are anticipated
to be introduced in order to improve vehicle safety. The user-friendly advanced
active power steering is extremely compatible with the advanced assistance
systems and is expected to see a variety of improvised and novel steering aid
capabilities in the near future. Critical concerns at the moment include driver
road safety, fuel-efficient driving alternatives, Geographically, there are
four main regions that make up the worldwide CV active power steering market:
North America, Europe, Asia-Pacific, and the Rest of the World. North America
has been identified as the key contributor across all regions in terms of
revenues, robust infrastructure, a developed economy, and consistently
expanding construction and logistics sectors. Due to constant technological
advancements and the quick adoption of CV active power steering technology in
numerous different application categories, Europe is projected to hold the
biggest market share. Additionally, OEMs in Europe are developing a
cost-effective value contribution to meet the EU Environment Commission's aim
of lower CO2 emissions, which is anticipated to grow the regional market for CV
active power steering over the projected period.
Research
Methodology:
To compile
the detailed study of the global Commercial
Vehicle (CV) Active Power Steering Market, a robust research methodology has
been adopted that aids in determining the key insights and also evaluates the
growth prospects of the Commercial
Vehicle (CV) Active Power Steering Market. Comprehensive and iterative research
methodology focused on minimizing deviance in order to provide the most
accurate estimates and forecast possible. The company utilizes a combination of
bottom-up and top-down approaches for segmenting and estimating quantitative
aspects of the market. Our research methodology implements a mix of primary as
well as secondary research. Our projects are initiated with secondary research,
where we refer to a variety of sources including trade databases; government
published documents, investor presentations, company annual reports, Industrial
papers, and paid databases. To carry out secondary research, the analysts have
collected the information through company annual reports, journals, company
press releases, and paid databases that were referred to gain and identify
better opportunities in the Commercial
Vehicle (CV) Active Power Steering Market.
COVID-19
Scenario Analysis:
The COVID-19
outbreak has shaken the whole economy in the world. In this scenario some
industries are doing quite well while others have been crushed. This section of
the report has explored the overall status of the COVID-19 scenario. The
industry witnessed a huge decline in terms of sales. Likewise, the Commercial Vehicle (CV) Active Power Steering Market was
affected negatively due to the shutdown of manufacturing/processing facilities
for some time. The analysts have also focused on the key measures that the
companies are opting to withstand the harsh scenario.
Segment
Covered:
Commercial Vehicle (CV) Active Power Steering Market Compounded annual growth rates for all segments have also
been provided for 2019 to 2031. This report is a compilation of first-hand
information, qualitative and quantitative assessment by industry analysts,
inputs from industry experts and industry participants across the value chain.
Key Segments:
Commercial Vehicle (CV) Active Power Steering Market research report includes an in-depth coverage of the
industry with estimates & forecast from 2022 to 2031, for the following
segments:
Commercial
Vehicle (CV) Active Power Steering Market, By Type, 2022-2031 (USD Million)
·
Hydraulic
Power Steering (Hps)
·
Electric
Power Steering (Eps)
·
Electro
Hydraulic Power Steering (Ehps)
Commercial
Vehicle (CV) Active Power Steering Market, By Application, 2022-2031 (USD
Million)
·
Medium
Commercial Vehicles
·
Heavy
Commercial Vehicles
Report
Highlights:
The prime objective of the Commercial Vehicle
(CV) Active Power Steering Market report is to help the user understand the market in
terms of its definition, segmentation, market potential, influential trends,
and the challenges that the market is facing with different major regions and more
than 30 major countries across the globe. During the report's production,
extensive research and analysis were conducted. This research will assist
readers in gaining a thorough understanding of the market.
Commercial
Vehicle (CV) Active Power Steering Market, By Region, 2022-2031 (USD Million)
·
North America (
United States, Canada, Mexico)
·
Europe
(Germany, UK, France, Italy, Russia, Spain, and Rest of Europe)
·
South Asia (
India, Pakistan and Bangladesh)
·
East Asia
(China, Japan and South Korea)
·
South East Asia
(Indonesia, Thailand, Singapore, Malaysia, Rest of SE Asia)
·
Middle East
(Turkey, Saudi Arabia, Iran, UAE, Israel, Iraq, Qatar, Rest of MEA)
·
Africa
(Nigeria, South Africa, Egypt, Algeria, Rest of Africa)
·
South America
(Brazil, Argentina, Colombia, Chile, and Rest of SA)
·
Oceania
(Australia and New Zealand)
Companies
Profiled:
To enhance their position in the global
market, key suppliers/manufacturers are concentrating on business expansion and
product innovation. Manufacturers/producers are also working on boosting their
manufacturing capacity and product quality to gain a competitive advantage. The
following are some of the prominent manufacturers in the worldwide Commercial
Vehicle (CV) Active Power Steering Market:
·
ZF
Friedrichshafen AG (Germany)
·
AB Volvo
(Sweden)
·
Tedrive
steering systems GmbH (Germany)
·
Ognibene
Power SPA (Italy)
·
BMW AG
(Germany)
·
Knorr-Bremse
(Germany)
·
Bosch
(Germany)
·
Daimler AG
(Germany)
Commercial
Vehicle (CV) Active Power Steering Market Report Highlights:
·
Detailed
analysis of the parent market
·
Key players'
strategies and products supplied in the competitive landscape
·
Market
segmentation in depth analysis
·
Market size
in terms of volume and value, past, present, and future scenario
·
Potential and
specialty areas, as well as geographical regions with promising growth
prospects
·
Market
players use this information to maintain and expand their market presence, thus
it's important to have an unbiased perspective on market performance.
·
Recent
advancements and technological trends in the industry