Commercial Vehicle (CV) Active power Steering Market by Region America, Europe, Asia Pacific, Middle East and Africa, South America forecast till 2023
Commercial Vehicle (CV) Active power Steering Market Research Report - Global Forecast to 2023
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Commercial Vehicle (CV) Active power Steering Market by Region America, Europe, Asia Pacific, Middle East and Africa, South America forecast till 2023
Summary: Global Commercial Vehicle (CV) Active Power Steering Market Research Information Report by type (Hydraulic Power Steering (HPS), Electric Power Steering (EPS), Electrohydraulic Power Steering (EHPS)), by application (Medium commercial vehicles, Heavy commercial vehicles), by Region - Forecast To 2023 See Table of Content Here:
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Commercial Vehicle (CV) Active power Steering market is estimated to witness 12% CAGR during the forecast period from 2018 to 2023. Commercial Vehicle (CV) Active power Steering market overview: CV active power steering market has witnessed an outstanding growth in the global automotive market and expected to grow with a CAGR of ~12% over the forecast period. The CV active power steering market is divided into Hydraulic Power Steering (HPS), Electric Power Steering (EPS), and Electro-hydraulic Power Steering (EHPS). Shifting preference of the manufacturers towards Electric Power Steering over Hydraulic Power Steering in order to increase the gas mileage is presumed to escalate the global demand. HPS for commercial vehicles enable the vehicle to be steered using manual effort during the power-steering system failure. However, continuous running of commercial vehicle pumps fluid all the time in HPS, which result in wastage of horsepower and higher fuel emissions. Eliminating an engine-driven hydraulic pump result in the increment of gas mileage up to one mile per gallon (mpg), which is anticipated to boost the market demand for EPS in upcoming years. Moreover, low maintenance better response at different speeds, less power consumption are various factors which are expected to escalate the market demand in future. Key Players Analyzed in This Report are: The prominent market players in the global CV active power steering market include 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).
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Commercial Vehicle (CV) Active power Steering Market by Region America, Europe, Asia Pacific, Middle East and Africa, South America forecast till 2023
Commercial Vehicle (CV) Active power Steering Market Segmentation: The global commercial vehicle active power steering market has been segmented into type, applications, and region. On the basis of type, the market is segmented into hydraulic power steering (HPS), electric power steering (EPS), and electro-hydraulic power steering (EHPS). Hydraulic power steering systems have a straight mechanical connection between the steering wheel and the link that steers the wheels which permits the vehicle to be steered using manual efforts during power steering system failure. Moreover, HPS provides various features to deliver efficient power transmission such as ease of maintenance, higher accuracy of control, multiplication of force, constant force and torque, and widely used in heavy commercial vehicles. Based on application, the market is segmented into light commercial vehicle (LCV), medium commercial vehicle (MCV), and heavy commercial vehicle (HCV). Hydraulic power steering is widely used in MCVs and HCVs owing to easy multiplication of forces from a fraction of a pound to hundred tons of output. Moreover, HPS can deliver a constant torque regardless of frequent changes in speed and presumed to expand the commercial vehicle active power steering market during the forecast period. Based on region, the market is divided into Report Coverage This study provides an overview of the global commercial vehicle (CV) active power steering market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global commercial vehicle (CV) active power steering market by type, application, and region. To View Report click on this button.
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Commercial Vehicle (CV) Active power Steering Market by Region America, Europe, Asia Pacific, Middle East and Africa, South America forecast till 2023
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