DUBLIN--(BUSINESS WIRE)--The "Latin America Automotive Steering System Market 2021-2028" report has been added to ResearchAndMarkets.com's offering.

The publisher has stated that the automotive steering system market in Latin America is likely to grow with a CAGR of 5.19% over the forecast years from 2021 to 2028. Mexico, Brazil, and Rest of Latin America together comprise the market in this region.

The Rest of Latin America region constitutes various emerging economies, such as Chile, Argentina, Venezuela, Costa Rica, Ecuador, and Peru, among others. In July 2017, the Government of Argentina announced lowering the import duties on battery electric vehicles (BEVs), fuel cell electric vehicles (FCEV), and hybrid electric vehicles (including conventional and plug-in hybrids). The import tariffs fell from 35% previously, to a range of 0% to 5%. This depended on factors such as the vehicles' powertrain and whether they were imported as completely built units (CBU), semi-knocked down (SKD) units, or completely knocked-down (CKD) units.

Also, the presence of companies such as Ferreiros y Vilela SA in the country helps in the growth of the automotive steering system market. Presently, it supplies all models of rack and pinion steering systems in the market, and others that are manufactured based on customers' request. Its plant in San Isidro, has a well-developed infrastructure, with highly trained personnel in all its areas. This indicates growth for the automotive steering system market in the region in the coming years. Further, several multinational players in the automotive industries have their production facilities in Mexico and Brazil. This shows that there is great potential for the studied market in Latin America.

Companies Mentioned

  • China Automotive Systems Inc
  • Denso Corporation
  • Hitachi Astemo Ltd
  • Honda Motor Company
  • Hyundai Mobis
  • Jtekt Corporation
  • Mando Corporation
  • Mitsubishi Electric Corporation
  • Nexteer Automotive Corporation
  • Nsk Ltd
  • Robert Bosch Gmbh

Key Topics Covered:

1. Latin America Automotive Steering System Market - Summary

2. Industry Outlook

2.1. Impact Of Covid-19 On the Automotive Steering System Industry

2.2. Key Insights

2.2.1. Adoption Of Sensors

2.2.2. Adas (Advanced Driver Assistance Systems) Adoption In Automotive

2.2.3. Usage Of Technologically Advanced Eps

2.3. Porter'S Five Forces Analysis

2.3.1. Threat Of New Entrants

2.3.2. Threat Of Substitute

2.3.3. Bargaining Power Of Buyers

2.3.4. Bargaining Power Of Suppliers

2.3.5. Threat Of Competitive Rivalry

2.4. Market Attractiveness Index

2.5. Vendor Scorecard

2.6. Key Impact Analysis

2.6.1. Fuel Consumption

2.6.2. Co2 Emission

2.6.3. Maintenance

2.7. Key Market Strategies

2.7.1. Product Launches

2.7.2. Contracts & Partnerships

2.7.3. Business Expansions & Divestitures

2.8. Market Drivers

2.8.1. Growing Demand For More Functions In Electronic Control Unit (Ecu)

2.8.2. Stringent Fuel Efficiency Norms

2.9. Market Challenges

2.9.1. Expensive Automotive

2.9.2. Autonomous Features In Cars

2.10. Market Opportunities

2.10.1. Positive Outlook Of Automotive Production

2.10.2. Growing Number Of Electric Vehicles

3. Latin America Automotive Steering System Market Outlook - by Vehicle Type

3.1. Ice-Driven

3.2. Electric Vehicles

3.2.1. PHEV (Plug-In Hybrid Electric Vehicle)

3.2.2. BEV (Battery Electric Vehicle)

3.2.3. FCEV (Fuel Cell Electric Vehicle)

3.2.4. HEV (Hybrid Electric Vehicle)

4. Latin America Automotive Steering System Market Outlook - by Type

4.1. Electric Steering System

4.1.1. Electric Power Steering System by Type

4.1.1.1. Column-Assist Type (C-Eps)

4.1.1.2. Pinion-Assist Type (P-Eps)

4.1.1.3. Direct Drive Type (D-Eps)

4.1.1.4. Rack-Assist Type (R-Eps)

4.1.2. Electric Power Steering System by Components

4.1.2.1. Steering Rack/Column

4.1.2.2. Sensor

4.1.2.3. Steering Motor

4.1.2.4. Other Component Types

4.2. Hydraulic Steering System

4.3. Electro-Hydraulic

4.4. Steer by Wire

5. Latin America Automotive Steering Systems Market - Regional Outlook

5.1. Brazil

5.2. Mexico

5.3. Rest Of Latin America

6. Competitive landscape

7. Research Methodology & Scope

For more information about this report visit https://www.researchandmarkets.com/r/1taf8s

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