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Automotive Rear Axle Steering System Market: Introduction

  • Rise in demand for safety of vehicle passengers as per government mandates is expected to propel the global automotive rear axle steering system market. When a vehicle is equipped with a rear axle steering system, it transforms a vehicle into all wheel steering or four-wheel steering vehicle. In terms of steering, four-wheel steering vehicles offer multiple benefits over front wheel steering vehicles such as increased safety during turning, reduced steering angle, and reduced steering response time.

Key Drivers of Automotive Rear Axle Steering System Market

  • Increase in demand for comfortable and safe vehicles across the globe is expected to be a key factor boosting the global automotive rear axle steering system market. The rear axle steering system offers enhanced stability and enables the driver to avoid potholes and high winds while driving with minimal swaying of the vehicle.
  • Additionally, the rear axle steering system enables the driver to easily cross over to the next lane with minimal turning efforts during lane change. With the rear axle steering system, there is no need for the driver to accelerate during lane change to maintain vehicle speed.
  • The automotive rear axle steering system can improve the safety rating of a vehicle and minimize the probability of an accident due to rollover or instability. New vehicles equipped with the rear axle steering system can respond faster when turning and switching lanes.
  • Furthermore, rear axle steering system enables the vehicle to turn the rear wheels in the opposite direction of the front wheels, which enables the driver to complete smaller circular turns at lower speeds. All the factors mentioned above are expected to increase the adoption of the rear axle steering system in automobiles in near future and consequently, drive the global rear axle steering system market.

Automotive Rear Axle Steering System Market: Restraint

  • The rear axle steering system enhances the safety of the vehicles; however, the cost vehicles is high and therefore, this technology is generally integrated in premium and mid-end vehicles. Additionally, the rear axle steering system increases the number of components in the entire steering system of the vehicle and therefore, requires more time for steering calibration as compared to the traditional steering system, accompanied by additional calibration cost. This additional cost is expected to increase the periodic maintenance cost of the vehicle, thereby hampering the global automotive rear axle steering system market during the forecast period.
  • Vehicles integrated with rear axle steering system are considered as four-wheel steering vehicles. Vehicles with four-wheel steering systems have numerous of interdependent mechanical and electrical components. In case of malfunction of any component in the four-wheel steering system, the entire steering system could be compromised. Moreover, four-wheel steering systems are more complex and therefore, require additional cost and more time to finish repairs. This, in turn, is expected to hamper the global automotive rear axle steering system market during the forecast period.

Europe to hold prominent share of global automotive rear axle steering system market

  • In terms of region, the global automotive rear axle steering system market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.
  • Europe has presence of several economically stable countries. Majority of key automotive OEMs and aftermarket players including major automakers have strong presence across Europe. Additionally, automotive research institutes across Europe are solely committed to improve automobile safety, performance, and vehicle efficiency to improve the overall dynamics of the vehicle. Therefore, Europe is expected to witness increased demand for automotive rear axle steering systems compared to that in other regions.
  • Additionally, several automakers in Europe are promoting the automotive rear axle steering system owing to its advantages over traditional steering system in vehicles, which is likely to boost the automotive rear axle steering system market in the region

Key Players Operating in Automotive Rear Axle Steering System Market

The global automotive rear axle steering system market is highly concentrated owing to the presence of top manufacturers. A few key players operating in the global automotive rear axle steering system market are:

  • Automakers
    • BMW AG
    • Mitsubishi Motors
    • Automobili Lamborghini S.p.A
    • Mazda Motor Corporation
    • Porsche AG
    • Toyota Motors
    • Ferrari S.p.A.
    • Honda Motor Company, Ltd.
    • Groupe Renault
  • Manufacturers
    • Robert Bosch GmbH
    • ThyssenKrupp AG
    • Hyundai Mobis Co. Ltd.
    • ZF Friedrichshafen AG 
    • Hitachi Automotive Systems, Ltd.

Global Automotive Rear Axle Steering System Market: Research Scope

Global Automotive Rear Axle Steering System Market, by Vehicle Type

  • Passenger Vehicles
    • Compact
    • Luxury
    • Sports
    • SUV
  • Light Commercial Vehicle

Global Automotive Rear Axle Steering System Market, by Component

  • ECU
  • Electric motor
  • Oil tank with pump
  • Sensors
  • Steering cylinder
  • Valve system

Global Automotive Rear Axle Steering System Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Nordic Countries
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • ANZ
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • Turkey
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Automotive Rear Axle Steering System Market

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