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Rack and Pinion Steering Gear Aftermarket Rapidly Cuts into Conventional Recirculating Ball Steering Gear Market Shares - New analysis from Frost & Sullivan, U.S. Remanufactured Rack and Pinion Steering Gear Aftermarket, finds that the market earned revenues of $121.0 million in 2006 and estimates this to reach $151.3 million in 2013
Rack and Pinion Steering Gear Aftermarket Rapidly Cuts into Conventional Recirculating Ball Steering Gear Market Shares

 

NewswireToday - /newswire/ - Palo Alto, CA, United States, 2007/11/26 - New analysis from Frost & Sullivan, U.S. Remanufactured Rack and Pinion Steering Gear Aftermarket, finds that the market earned revenues of $121.0 million in 2006 and estimates this to reach $151.3 million in 2013.

   
 
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Customers increasingly prefer rack and pinion steering gears to recirculating ball steering gears due to their use of fewer parts, space and weight savings, lower remanufacturing costs, and greater durability. Although greater durability hinders unit shipment growth, the longevity and affordability of the remanufactured product appeals to fleet operators and truck owners, thereby increasing the number of consumers in the aftermarket.

New analysis from Frost & Sullivan (automotive.frost.com), U.S. Remanufactured Rack and Pinion Steering Gear Aftermarket, finds that the market earned revenues of $121.0 million in 2006 and estimates this to reach $151.3 million in 2013.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants an overview of the latest analysis of the U.S. Remanufactured Rack and Pinion Steering Gear Aftermarket, then send an email to Sara Villarruel - Corporate Communications at sara.villarruel[.]frost.com with the following information: your full name, company name, title, telephone number, email address, city, state, and country. We will send you the information via email upon receipt of the above information.

The remanufactured rack and pinion steering gear aftermarket demonstrates a tendency toward commoditization as price represents a vital purchase factor. Fierce price wars at the remanufacturer and distributor levels reduce profit margins across the distribution chain.

"Rack and pinions for import nameplate vehicle applications are generally costlier due to higher original equipment (OE) pricing of new units, raw material costs, and core costs stemming from lower availability," says Frost & Sullivan Industry Manager Avijit Ghosh. "On average, there is approximately a $40 to $60 spread between rack and pinions in import nameplate vehicles from those in domestic-made vehicles."

The production as well as sale of Japanese and European nameplate vehicles in the United States has steadily increased. This trend could help increase the overall weighted average price of steering gears in the future and decelerate commoditization.

Meanwhile, the proliferation of vehicle models has caused a simultaneous rise in the amount of part numbers that distributors must stock. In fact, part numbers have increased at a faster rate than vehicle models due to the multiple applications of rack and pinion steering gears per vehicle model.

"The increasing proliferation of parts contributes to unit shipment demand, since distributors must stock a greater number of parts to meet market demand," notes Ghosh. "Overcapacity and oversupply of rack and pinions, primarily for domestic vehicles, give the customers a wide range of options."

Currently, the aftermarket generates annual unit sales of just over 1 million, which supports less than 1 percent of the total vehicle parc of 244 million thereby proving that a vast untapped market exists in the United States. For instance, in 2006, nearly 70 to 80 percent of the light vehicle parc was fitted with rack and pinion steering gear systems and this share continues to steadily increase.

U.S. Remanufactured Rack and Pinion Steering Gear Aftermarket is part of the Automotive & Transportation Growth Partnership Service program, which also includes research in the following markets: North American remanufactured engine and transmission aftermarket, North American steering system hard parts aftermarket, and North American starters and alternators aftermarket. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

About Frost & Sullivan
Frost & Sullivan, the Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting, and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.

 
 
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Rack and Pinion Steering Gear Aftermarket Rapidly Cuts into Conventional Recirculating Ball Steering Gear Market Shares

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Frost & Sullivan |
Publisher Contact: Sara Villarruel 
210.477.8448 sara.villarruel[.]frost.com
 
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