Automotive Steering System Market Expected to Expand at a Steady CAGR through 2025
The automotive steering system market has evolved from the convention rigid steering system to the flexible power assisted steering systems. The continuous increase in the demand of vehicles has boosted the growth for automotive steering system market. Present day steering system provides easy maneuverability of vehicle to take smooth turns, reduced driver fatigue, better vehicle stability and thus ensure reduced risk of accident by having better control over vehicle. The power assisted steering systems reduces the power applied on wheel by driver and also absorbs road shocks. Thus the market has shifted completely from manual to power-assisted steering systems. Today these systems has become integral part of almost every vehicle manufactured in the market. The steering system market comprises of various technologically advanced systems such as EPS, HPS and EPHS. Many players in the steering system & steering components manufacturing are working on the future developments in the automotive steering system, the future prospects of development in the steering system covers various areas such as improvement of ITS technology, steer-by-wire system, and development of control technology for steering system. One such top technology is the direct adaptive steering that utilizes electronic signal to transmit driver steer input faster than other systems. Thus this advancements will continue to fuel the growth of automotive steering market.
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