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Automotive Power Steering Pump Housing Market Segmented By Material Type such as Stainless steel, Mild steel, Aluminum, Cast iron with Sales such as OEM, Aftermarket
Automotive power steering pumps housing aid the movement of power steering system by applying the principle of fluid mechanics. Automotive power steering pump housing is used to sealing the pump to prevent fuel leakage. These sealing assure superior engine performance. Moreover it enhances the performance of steering in addition to reduce the noise level appearing while harsh turning of vehicles.
The housing provides dynamic balancing for the pump mechanism, referring to this, it is considered as a major component of the steering pump. Flexible housing should be used for transmission of power from engine to steering pump.
The manufacturers are focusing on manufacturing lightweight power steering pump housing for automotive. However the demand for automotive power steering pump housing depends upon the production of vehicles. Increasing vehicle production across the globe is escalating the demand for automotive power steering pump housing.
Steering pumps and pump housing are installed in a vehicle for reducing driving efforts. The demand of automotive power steering pump housing is correlated to increasing sale of the vehicles which is gradually increasing with the production of new vehicles. Furthermore, since the last decade the volant advancement in steering systems is driving the demand for automotive power steering pump housing.
Additionally the consistent innovations related to steering systems across the world have been responsible for driving the automotive power steering pump housing market. For e.g. implementation of HPS in the commercial vehicle segment are expected to increase the growth in global automotive power steering pump housing market.
The advancement in electronic power steering system is hampering the growth in automotive power steering pump housing market as it is the replacement of power steering pumps and associated components however has proved to be a restraining factor for market growth of automotive power steering pump housing to an extent.
The manufacturers are focusing on designing and forging the automotive power steering pump housing to provide smooth transition for optimal fuel flow by using lost wax method.
Asia Pacific region is anticipated to have dominance in the global automotive power steering pump housing market by virtue of increasing demand for commercial vehicles and passenger cars. China is expected to have leading share in the global market followed by India and Japan referring to increase in the domestic automotive production over the last few years.
North America is projected to have prominent growth rate during the forecast period by virtue of rising production of commercial vehicles. The Middle East & Africa is expected to have sluggish growth rate in the global automotive power steering pump housing market as the customers are shifting toward use of electric assist steering system and luxurious vehicles, which have electronic steering systems.
The research report presents a comprehensive assessment of the Automotive power steering pump housing market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to the automotive power steering pump housing market segments such as geographies, valve type, and vehicle type.
The global automotive power steering pump housing market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The global Automotive power steering pump housing market report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The global automotive power steering pump housing market report also maps the qualitative impact of various market factors on market segments and geographies.