Automotive Steering Systems Market by Vehicle Type (Passenger Car, LCV, & HCV), System Type (Manual, HPS, EHPS & EPS), Safety Features (With ABS/ESP & Without ABS/ESP), & Geography – Industry Trends & Forecast to 2018

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Date: 29-Jul-2014
No. of pages: 230
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The steering system is in simpler words the most important line of communication between the vehicle and its driver. Ever since the inception of the motor vehicle, steering systems have been the main stay of the vehicle’s maneuverability and agility. In the era of active safety systems like ABS, ESP etc. steering system’s safety value has gone unnoticed but there’s no denying the fact that steering is one of the most crucial aspects of a vehicle’s safety. A vehicle with ABS, ESP or any of the safety features is just as likely to be involved in a mishap as one without these features if it is not steered in the proper direction.

Over the history of the automotive industry, steering systems have evolved from being a 100% physical effort involved system to being precise and effortless guidance systems. Modern day steering systems use various assistance systems to provide better feedback and agility to a vehicle. These systems use hydraulic, electric or electro-hydraulic components in conjunction with mechanical components of the steering system to provide the driver with an effortless steering and ease of maneuvering in tight situations.

This report describes the market for automotive steering systems in across the globe based on vehicle type (passenger cars; light commercial vehicles; heavy duty vehicles), type (manual; assisted), with safety features (With ABS/ESP; Without ABS/ESP); geography (Asia-Pacific; North-America; Europe; ROW). The assisted steering system segment further covers the market for hydraulically, electro-hydraulically, and electrically assisted steering systems. Apart from quantitative analysis of these markets, the report also covers qualitative aspects like market dynamics, porter’s five forces analysis etc.

The report features profiles of the top players in the automotive steering market covering their market presence; financial health; product offerings in the segment and further insights into their strategies and recent market developments associated with individual players.

Automotive Steering Systems Market by Vehicle Type (Passenger Car, LCV, & HCV), System Type (Manual, HPS, EHPS & EPS), Safety Features (With ABS/ESP & Without ABS/ESP), & Geography – Industry Trends & Forecast to 2018

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Report Description
1.2.1 EPS System to Witness High Growth in Adoption Rates in the Next Five Years
1.3 Markets Covered
1.3.1 By Region
1.3.1.1 Asia-Oceania
1.3.1.2 Europe
1.3.1.3 North America
1.3.1.4 ROW
1.3.2 By Type
1.3.2.1 Manual Steering System
1.3.2.2 Hydraulic Power Steering (HPS) System
1.3.2.3 Electro-Hydraulic Power Steering (EHPS) System
1.3.2.4 Electric Power Steering (EPS) System
1.3.3 By Vehicle Type
1.3.3.1 Passenger Cars
1.3.3.2 Light Commercial Vehicles
1.3.3.3 Heavy Commercial Vehicles
1.3.4 By Safety Features
1.3.4.1 With ABS/ESP
1.3.4.2 Without ABS/ESP
1.4 Stakeholders
1.5 Research Methodology
1.5.1 Market Size
1.5.1.1 Methodology
1.5.1.1.1 Market Size
1.5.2 Key Secondary Sources
1.5.3 Key Data Taken From Primary & Secondary Sources
1.5.4 Assumptions Made for the Report

2 Executive Summary

3 Premium Insights
3.1 Market Segmentation
3.2 Market Overview
3.2.1 Automotive Steering System Market Size, By Region
3.2.2 Automotive Steering System Market Size, By Vehicle Type
3.2.3 Automotive Steering System Market Size, By Type
3.2.4 Automotive Steering System Market Size, By Safety Features
3.3 Major Players’ Market Share

4 Market Overview
4.1 Introduction
4.2 Market Dynamics
4.2.1 Drivers
4.2.1.1 Fuel-Efficiency
4.2.1.2 Localization of Production
4.2.1.3 Ease While Driving
4.2.2 Restraint
4.2.2.1 High Cost of EPS System
4.2.3 Opportunities
4.2.3.1 Emerging Markets
4.2.3.2 New Vehicle Launches
4.2.3.3 Development of Low Cost, Lightweight, and Less Power Consuming Technologies
4.3 Burning Issue
4.3.1 Steer-By-Wire Technology: Future of Steering System
4.4 Winning Imperative
4.4.1 Driver-Assist Functionality, Power Consumption Benefits, & Lighter Components
4.5 Porters’ Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Threat of Substitutes
4.5.3 Threat of New Entrants
4.5.4 Bargainiing Power of Buyers
4.5.5 Degree of Competition
4.6 Value Chain Analysis
4.7 Market Share Analysis

5 Technology Overview
5.1 Introduction
5.2 Types of Steering Systems
5.2.1 Manual Steering System
5.2.1.1 Rack & Pinion Steering System
5.2.1.2 Cam & Lever Steering System
5.2.1.3 Re-Circulating Ball Steering System
5.2.1.4 Worm & Roller System
5.2.1.5 Worm & Sector System
5.2.2 Assisted/Power Steering Sysytem
5.2.2.1 Hydraulically Assisted/Power Steering System
5.2.2.2 Electro-Hydraulically Assisted/Power Steering System
5.2.2.3 Electrically Assisted/Power Steering System
5.2.3 Working of Electrically Assisted/Power Steering (Eaps/EPS)
5.3 Safety Features In Steering System
5.3.1 Steering System With ABS & ESP
5.3.1.1 Anti-Lock Braking System (ABS)
5.3.1.1.1 Components
5.3.1.1.2 Types
5.3.1.1.3 Working
5.3.1.2 Electronic Stability Program (ESP)
5.3.2 Steering System Without ABS & ESP
5.3.3 Steering Technology Road Map
5.4 Future Technologies
5.4.1 Steer-By-Wire
5.4.1.1 Working
5.4.1.2 Advantages
5.4.1.3 Disadvantages
5.4.1.4 Oems Looking Forward for Adopting the Steer-By-Wire Technology

6 Automotive Steering System Market, By Region
6.1 Introduction
6.2 Market By Region
6.2.1 Market Estimates (Volume)
6.2.2 Market Estimates (Value)
6.2.3 Asia-Oceania
6.2.3.1 China, India & Japan: Potential Steering System Markets
6.2.3.2 Market Estimates (Volume), By Country
6.2.3.3 Market Estimates (Value), By Country
6.2.3.4 China
6.2.3.4.1 Largest Market With High-Growth Outlook
6.2.3.4.2 Market Estimates (Volume), By Type
6.2.3.4.3 Market Estimates (Value), By Type
6.2.3.5 Japan
6.2.3.5.1 Market Estimates (Volume), By Type
6.2.3.5.2 Market Estimates (Value), By Type
6.2.3.6 South Korea
6.2.3.6.1 Market Estimates (Volume), By Type
6.2.3.6.2 Market Estimates (Value), By Type
6.2.3.7 India
6.2.3.7.1 Market Estimates (Volume), By Type
6.2.3.7.2 Market Estimates (Value), By Type
6.2.4 Europe
6.2.4.1 Market Estimates (Volume), By Country
6.2.4.2 Market Estimates (Value), By Country
6.2.4.3 Germany
6.2.4.3.1 Market Estimates (Volume), By Type
6.2.4.3.2 Market Estimates (Value), By Type
6.2.4.4 France
6.2.4.4.1 Market Estimates (Volume), By Type
6.2.4.4.2 Market Estimates (Value), By Type
6.2.4.5 U.K.
6.2.4.5.1 Market Estimates (Volume), By Type
6.2.4.5.2 Market Estimates (Value), By Type
6.2.5 North America
6.2.5.1 U.S.: Largest Market for the EPS System
6.2.5.2 Market Estimates (Volume), By Country
6.2.5.3 Market Estimates (Value), By Country
6.2.5.4 U.S.
6.2.5.4.1 Market Estimates (Volume), By Type
6.2.5.4.2 Market Estimates (Value), By Type
6.2.5.5 Canada
6.2.5.5.1 Market Estimates (Volume), By Type
6.2.5.5.2 Market Estimates (Value), By Type
6.2.5.6 Mexico
6.2.5.6.1 Market Estimates (Volume), By Type
6.2.5.6.2 Market Estimates (Value), By Type
6.2.6 ROW
6.2.6.1 Market Estimates (Volume), By Country
6.2.6.2 Market Estimates (Value), By Country
6.2.6.3 Brazil
6.2.6.3.1 Market Estimates (Volume), By Type
6.2.6.3.2 Market Estimates (Value), By Type
6.2.6.4 Russia
6.2.6.4.1 Market Estimates (Volume), By Type
6.2.6.4.2 Market Estimates (Value), By Type
6.2.6.5 South Africa
6.2.6.5.1 Market Estimates (Volume), By Type
6.2.6.5.2 Market Estimates (Value), By Type

7 Automotive Steering System Market, By Type
7.1 Introduction
7.2 Market By Type
7.2.1 Market Estimates (Volume)
7.2.2 Market Estimates (Value)
7.3 Manual Steering System Market
7.3.1 By Region
7.3.1.1 Market Estimates (Volume)
7.3.1.2 Market Estimates (Value)
7.3.2 By Vehicle Type
7.3.2.1 Market Estimates (Volume)
7.3.2.2 Market Estimates (Value)
7.4 Hydraulically Assisted Power Steering System (HPS/Haps) Market
7.4.1 By Region
7.4.1.1 Market Estimates (Volume)
7.4.1.2 Market Estimates (Value)
7.4.2 By Vehicle Type
7.4.2.1 Market Estimates (Volume)
7.4.2.2 Market Estimates (Value)
7.5 Electro-Hydraulically Assisted Power Steering System (EHPS/EHAPS) Market
7.5.1 By Region
7.5.1.1 Market Estimates (Volume)
7.5.1.2 Market Estimates (Value)
7.5.2 By Vehicle Type
7.5.2.1 Market Estimates (Volume)
7.5.2.2 Market Estimates (Value)
7.6 Electrically Assisted Power Steering System (EPS/Eaps) Market
7.6.1 By Region
7.6.1.1 Market Estimates (Volume)
7.6.1.2 Market Estimates (Value)
7.6.2 By Vehicle Type
7.6.2.1 Market Estimates (Volume)
7.6.2.2 Market Estimates (Value)

8 Automotive Steering System Market, By Vehicle Type
8.1 Introduction
8.2 Market By Vehicle Type
8.2.1 Market Estimates (Volume)
8.2.2 Market Estimates (Value)
8.2.3 Passenger Car
8.2.3.1 Market By Type
8.2.3.1.1 Market Estimates (Volume)
8.2.3.1.2 Market Estimates (Value)
8.2.3.2 Market By Region
8.2.3.2.1 Market Estimates (Volume)
8.2.3.2.2 Market Estimates (Value)
8.2.4 Light Commercial Vehicle (LCV)
8.2.4.1 Market By Type
8.2.4.1.1 Market Estimates (Volume)
8.2.4.1.2 Market Estimates (Value)
8.2.4.2 Market By Region
8.2.4.2.1 Market Estimates (Volume)
8.2.4.2.2 Market Estimates (Value)
8.2.5 Heavy Commercial Vehicle (HCV)
8.2.5.1 Market By Type
8.2.5.1.1 Market Estimates (Volume)
8.2.5.1.2 Market Estimates (Value)
8.2.5.2 Market By Region
8.2.5.2.1 Market Estimates (Volume)
8.2.5.2.2 Market Estimates (Value)

9 Automotive Steering System Market, By Safety Features
9.1 Introduction
9.2 Market By Safety Features
9.2.1 Automotive Steering System With Safety Features Market (Volume)
9.2.2 Automotive Steering System Without Safety Features Market (Volume)

10 Competitive Landscape
10.1 Introduction
10.2 Market Players
10.2.1 Automotive Steering System Manufacturers
10.2.1.1 Company’s Relative Market Position, By Region
10.2.2 Key Growth Strategies

11 Company Profiles
(Overview, Financial*, Products & Services, Strategy, and Developments)
11.1 China Automotive Systems Inc.
11.2 Hyundai Mobis Co., Ltd.
11.3 Jtekt Corporation
11.4 Mando Corp.
11.5 Mitsubishi Electric Corporation
11.6 Nexteer Automotive Group Ltd.
11.7 NSK Ltd.
11.8 Thyssenkrupp Ag
11.9 TRW Automotive Holdings Corp.
11.10 ZF Friedrichshafen Ag

12 Annexure

*Details Might Not Be Captured in Case of Unlisted Companies.

List of Tables

Table 1 Automotive Steering System Market: Research Methodology
Table 2 Automotive Steering System: Raw Material Providers, Component & System Manufacturers, and End Users
Table 3 Major Players in the Steering System Market
Table 4 Rack & Pinion Steering System & Its Components
Table 5 Automotive Oems & their Models With the Steer-By-Wire Technology
Table 6 Automotive Steering System Market Size, By Region, 2011-2018 ('000 Units)
Table 7 Automotive Steering System Market Size, By Region, 2011-2018 ($Million)
Table 8 Asia-Oceania: Automotive Steering System Market Size, By Country, 2011-2018 ('000 Units)
Table 9 Asia-Oceania: Automotive Steering System Market Size, By Country, 2011-2018 ($Million)
Table 10 China: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units)
Table 11 China: Automotive Steering System Market Size, By Type, 2011-2018 ($Million)
Table 12 Japan: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units)
Table 13 Japan: Automotive Steering System Market Size, By Type, 2011-2018 ($Million)
Table 14 South Korea: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units)
Table 15 South Korea: Automotive Steering System Market Size, By Type, 2011-2018 ($Million)
Table 16 India: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units)
Table 17 India: Automotive Steering System Market Size, By Type, 2011-2018 ($Million)
Table 18 Europe: Automotive Steering System Market Size, By Country, 2011-2018 ('000 Units)
Table 19 Europe: Automotive Steering System Market Size, By Country, 2011-2018 ($Million)
Table 20 Europe: Steering System Market Share (Value), By Country, 2013 VS. 2018
Table 21 Germany: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units)
Table 22 Germany: Automotive Steering System Market Size, By Type, 2011-2018 ($Million)
Table 23 France: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units)
Table 24 France: Automotive Steering System Market Size, By Type, 2011-2018 ($Million)
Table 25 U.K: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units)
Table 26 U.K: Automotive Steering System Market Size, By Type, 2011-2018 ($Million)
Table 27 North America: Automotive Steering System Market Size, By Country, 2011-2018 ('000 Units)
Table 28 North America: Automotive Steering System Market Size, By Country, 2011-2018 ($Million)
Table 29 U.S: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units)
Table 30 U.S: Automotive Steering System Market Size, By Type, 2011-2018 ($Million)
Table 31 Canada: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units)
Table 32 Canada: Automotive Steering System Market Size, By Type, 2011-2018 ($Million)
Table 33 Mexico: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units)
Table 34 Mexico: Automotive Steering System Market Size, By Type, 2011-2018 ($Million)
Table 35 ROW: Automotive Steering System Market Size, By Country, 2011-2018 ('000 Units)
Table 36 ROW: Automotive Steering System Market Size, By Country, 2011-2018 ($Million)
Table 37 ROW: Automotive Steering System Market Share (Value), By Country, 2013 VS. 2018
Table 38 Brazil: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units)
Table 39 Brazil: Automotive Steering System Market Size, By Type, 2011-2018 ($Million)
Table 40 Russia: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units)
Table 41 Russia: Automotive Steering System Market Size, By Type, 2011-2018 ($Million)
Table 42 South Africa: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units)
Table 43 South Africa: Automotive Steering System Market Size, By Type, 2011-2018 ($Million)
Table 44 Automotive Steering System Market Size, By Type, 2011–2018 (‘000 Units)
Table 45 Automotive Steering System Market Size, By Type, 2011–2018 ($Million)
Table 46 Manual Steering System Market Size, By Region, 2011–2018 ('000 Units)
Table 47 Manual Steering System Market Size, By Region, 2011–2018 ($Million)
Table 48 Manual System Market Size, By Vehicle Type, 2011–2018 ('000 Units)
Table 49 Manual System Market Size, By Vehicle Type, 2011–2018 ($Million)
Table 50 HPS System Market Size, By Region, 2011–2018 ('000 Units)
Table 51 HPS System Market Size, By Region, 2011–2018 ($Million)
Table 52 HPS System Market Size, By Vehicle Type, 2011–2018 ('000 Units)
Table 53 HPS System Market Size, By Vehicle Type, 2011–2018 ($Million)
Table 54 EHPS System Market Size, By Region, 2011–2018 ('000 Units)
Table 55 EHPS System Market Size, By Region, 2011–2018 ($Million)
Table 56 EHPS System Market Size, By Vehicle Type, 2011–2018 ('000 Units)
Table 57 EHPS System Market Size, By Vehicle Type, 2011–2018 ($Million)
Table 58 EPS System Market Size, By Region, 2011–2018 ('000 Units)
Table 59 EPS System Market Size, By Region, 2011–2018 ($Million)
Table 60 EPS System Market Share (Value), By Region, 2013 VS. 2018
Table 61 EPS System Market Size, By Vehicle Type, 2011–2018 ('000 Units)
Table 62 EPS System Market Size, By Vehicle Type, 2011–2018 ($Million)
Table 63 Automotive Steering System Market Size, By Vehicle Type, 2011–2018 (‘000 Units)
Table 64 Automotive Steering System Market Size, By Vehicle Type, 2011–2018 ($Million)
Table 65 Passenger Car Steering System Market Size, By Type, 2011–2018 ('000 Units)
Table 66 Passenger Car Steering System Market Size, By Type, 2011–2018 ($Million)
Table 67 Passenger Car Steering System Market Share (Value), By Type, 2013 VS. 2018
Table 68 Passenger Car Steering System Market Size, By Region, 2011–2018 ('000 Units)
Table 69 Passenger Car Steering System Market Size, By Region, 2011–2018 ($Million)
Table 70 LCV Steering System Market Size, By Type, 2011–2018 ('000 Units)
Table 71 LCV Steering System Market Size, By Type, 2011–2018 ($Million)
Table 72 LCV Steering System Market Share (Value), By Type, 2013 VS. 2018
Table 73 LCV Steering System Market Size, By Region, 2011–2018 ('000 Units)
Table 74 LCV Steering System Market Size, By Region, 2011–2018 ($Million)
Table 75 HCV Steering System Market Size, By Type, 2011–2018 ('000 Units)
Table 76 HCV Steering System Market Size, By Type, 2011–2018 ($Million)
Table 77 HCV Steering System Market Size, By Region, 2011–2018 ('000 Units)
Table 78 HCV Steering System Market Size, By Region, 2011–2018 ($Million)
Table 79 Automotive Steering System Market Size, By Safety Features, 2011–2018 (‘000 Units)
Table 80 Automotive Steering System With Safety Features (ABS/ESP) Market Size, 2011–2018 (‘000 Units)
Table 81 Automotive Steering System Without Safety Features (ABS/ESP) Market Size , 2011–2018 (‘000 Units)
Table 82 Automotive Steering System: Manufacturers & their Products
Table 83 China Automotive Systems: Facilities & Products Manufactured
Table 84 Hyundai Mobis: Segments & their Products
Table 85 Jtekt Corporation: Products & their Types
Table 86 Mando Corp.: Segments & their Products
Table 87 Mitsubishi Electric Corp.: Product & Its Components
Table 88 Nexteer Automotive: Segments & their Products
Table 89 NSK Ltd.: Segments & their Products
Table 90 Thyssenkrupp Ag: Categories & Their Products
Table 91 TRW Automotive Holdings Corp.: Products & Their Types/Components
Table 92 ZF Friedrichshafen Ag: Vehicle Types & Their Products
Table 93 New Product Developments/Launches & R&D
Table 94 Supply Contracts
Table 95 Agreements, Partnerships & Joint Ventures
Table 96 Expansions & Others

List of Figures

Figure 1 Global Automotive Steering System Market Size, By Type & Vehicle Type, 2011–2018 ($Million)
Figure 2 Automotive Steering System Market Segmentation
Figure 3 Automotive Steering System Market Share (Value), By Segmentation, 2012
Figure 4 Automotive Steering System Market Size, By Region, 2011–2018 ($Million)
Figure 5 Automotive Steering System Market Size, By Vehicle Type, 2011–2018 ($Million)
Figure 6 Automotive Steering System Market Snapshot (Value), By Type, 2011–2018 ($Million)
Figure 7 Automotive Steering System Market Size, By Safety Features, 2011–2018 ($Million)
Figure 8 Automotive Steering System Market Share (Value), By Company, 2012
Figure 9 Impact Analysis of Drivers & Restraints
Figure 10 Impact of Major Drivers
Figure 11 Impact of Major Restraint
Figure 12 Automotive Steering System Market: Porters’ Five Forces Analysis
Figure 13 Automotive Steering System: Value Chain Analysis
Figure 14 Steering System Market Share (Value), By Company, 2012
Figure 15 Cam & Lever Steering Gear & Its Components
Figure 16 Re-Circulating Ball System & Its Components
Figure 17 Worm & Roller System & Its Components
Figure 18 Layout of Electric Power Steering (EPS) System
Figure 19 Working of ABS
Figure 20 Evolution of Steering System
Figure 21 Automotive Steering System Market Share (Volume), By Region, (2011 VS. 2012)
Figure 22 Automotive Steering System Market Size, By Region, 2011–2018 ($Million)
Figure 23 Automotive Steering System Market Share (Value), By Region, 2013 VS. 2018
Figure 24 Asia-Oceania Automotive Steering System Market Share (Value), By Country, 2013 VS. 2018
Figure 25 North America: Automotive Steering System Market Share (Value), By Country, 2013 VS. 2018
Figure 26 Automotive Steering System Market Share (Value), 2013 VS. 2018 & Market Size, 2011–2018 ($Million)
Figure 27 Manual System Market Share (Value), By Region, 2013 VS. 2018
Figure 28 HPS System Market Share (Value), By Region, 2013 VS. 2018
Figure 29 EHPS System Market Share (Value), By Region, 2013 VS. 2018
Figure 30 Automotive Steering System Market Share (Volume), 2013 VS. 2018 & Market Size, (‘Ooo Units), 2011–2018
Figure 31 HCV Steering System Market Share (Value), By Type, 2013 VS. 2018
Figure 32 Automotive Steering System Market Share (Volume), By Safety Features, 2013 VS. 2018
Figure 33 Automotive Steering System With Safety Features (ABS/ESP) Market Share (Volume), 2013–2018
Figure 34 Automotive Steering System Manufacturers, By Region
Figure 35 Automotive Steering System Market, Key Growth Strategies, 2011–2014
Figure 36 Automotive Steering System Market, By Key Growth Strategies, 2011-2014

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    Published: 15-Apr-2015        Price: US $2500 Onwards        Pages: 71
    A drivetrain refers to the group of components in a vehicle that deliver power to the driving wheels. There are three different types of drivetrains: AWD, RWD and FWD. Each drivetrain has two functions to execute; first, it transmits power from the engine to the driving wheel; second, it varies the amount of torque. The analysts forecast Global Automotive Drivetrain market to grow at a CAGR of 6.32 percent over the period 2014-2019. Covered in this Report The report covers present scena......
  • Iran Autos Report Q2 2015
    Published: 15-Apr-2015        Price: US $1295 Onwards        Pages: 57
    Iranian vehicle production rose by 67.5% in 2014, to 1,090,846 units, according to statistics from the International Organization of Motor Vehicle Manufacturers (OICA). Breaking down the headline figure, Iran produced 925,975 passenger cars and 164,871 commercial vehicles. This makes Iran the 18th largest auto producer in the world. At the present time, sentiment towards the Iranian auto industry remains dominated by the progress of ongoing negotiations between Iran and the P5+1 countries (the U......
  • Sweden Autos Report Q2 2015
    Published: 15-Apr-2015        Price: US $1295 Onwards        Pages: 57
    BMI View: BMI maintains a bullish view on vehicle sales in Sweden, based on a strong rebound from pentup demand following sustained declines in recent years, and a broad recovery in the economy. The primary driver of this growth is the passenger car segment, which we expect to increase 1.5% in 2015. We also expect to see a strong recovery in the country's commercial vehicle segment, and we forecast a 6.1% over the year. We expect this strong growth to continue into 2015, and we forecast 2.1% gro......
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