Japan Automotive Steering Racks Market was valued at USD 3.5 Billion in 2022 and is projected to reach USD 4.8 Billion by 2030, growing at a CAGR of 4.2% from 2024 to 2030.
The Japanese automotive steering racks market is segmented by application into various categories, each catering to specific vehicle types and driving requirements. One of the primary segments is passenger cars, which include compact cars, sedans, and SUVs. In this segment, steering racks are crucial for providing precise handling and driving comfort. The demand for high-quality steering racks in passenger cars is driven by consumer expectations for enhanced safety, smooth driving experience, and improved maneuverability. As passenger cars continue to evolve with advanced technologies, the steering racks must also adapt to accommodate new systems such as electronic power steering (EPS) and variable gear ratios.
Another significant segment is commercial vehicles, which encompasses trucks, buses, and delivery vans. Steering racks in commercial vehicles need to handle greater loads and provide robust performance under demanding conditions. The commercial vehicle segment places a strong emphasis on durability and reliability. Steering systems in these vehicles are designed to offer consistent performance even under heavy loads and extended use. As the logistics and transportation industry grows, the demand for advanced steering racks in commercial vehicles is expected to rise, driven by the need for enhanced efficiency and driver comfort.
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Hitachi Astemo
Ltd.
MOOG
Jtekt Corporation
Nexteer
GENERAL RICAMBI
Stiletto
Quaife
Hirsche
Lizarte
Bosch
BORG Automotive Group
AMK
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Japan Automotive Steering Racks Market
Passenger Vehicle
Commercial Vehicle
Based on Types the Market is categorized into Below types that held the largest Automotive Steering Racks market share In 2023.
Manual
Electric Power
Hydraulic Power
Japan (United States, Japan and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Japan Automotive Steering Racks Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Japan Automotive Steering Racks Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Japan Automotive Steering Racks Market, By Type
6. Japan Automotive Steering Racks Market, By Application
7. Japan Automotive Steering Racks Market, By Geography
Japan
Europe
Asia Pacific
Rest of the World
8. Japan Automotive Steering Racks Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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