Data Bridge Market Research analyses that the electric power steering market would exhibit a CAGR of 7.77% for the forecast period of 2022 to 2029.
Electric Power Steering Market report is helpful in assessing the effectiveness of advertising program and identifies the causes of consumer resistance. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. The report helps business in knowing its market share over various time periods, transportation, storage, and supply requirements of its products. Electric Power Steering market survey report examines market by regions, especially North America, China, Europe, Southeast Asia, Japan, and India, focusing top manufacturers in global market, with respect to production, price, revenue, and market share for each manufacturer.
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Product definition
EPS (Electric Power Steering) is a type of power steering that uses a motor to aid the driver. In the automotive business, electric steering is progressively replacing hydraulic steering. Because it eliminates the hose, fluid, drive belt, pulley, and pump, these steering systems enable higher steering capabilities with less effort.
An increase in global population and per capita income is fuelling a surge in demand for well-equipped automobiles. As a result, the global electric power steering market is expanding at a rapid pace in the forecast period of 2022 to 2029. Furthermore, the Regulatory push towards efficient technologies, various measures by OEMs to reduce complexity and weight of vehicles, rise in the vehicle production and high investment in automotive are also expected to drive the growth of the electric power steering market. However, the high cost of EPS as compared to traditional steering systems and lack of steering feel restrains the electric power steering market, whereas, the failure of EPS system subcomponents will challenge market growth.
Some of the major players operating global Electric Power Steering market are
JTEKT Corporation, Nexteer Automotive, ZF Friedrichshafen AG, Robert Bosch GmbH, Melrose Industries PLC, Tenneco Inc., NSK Ltd, HYUNDAI MOBIS, thyssenkrupp AG,SHOWA CORPORATION, DENSO CORPORATION, BorgWarner Inc., ZF Steering Gear (India) Limited, Renesas Electronics Corporation, Infineon Technologies AG, Mando Corp, Rane Holdings Limited, NIDEC CORPORATION, Mitsubishi Electric Corporation and Johnson Electric Holdings Limited ., among others.
Key Market Segments Covered in Electric Power Steering Market Industry Research
By Type (R-EPS, P-EPS, C-EPS),
Component (Steering Column, Sensors Steering Gear, Mechanical Rack and Pinion, Electronic Control Unit, Electric Motor Bearing),
Electronic Motor Type (Brushless DC Motors, Brushed DC Motors),
Mechanism (Rigid EPS, Collapsible EPS),
Vehicle Type (Commercial Vehicles, Passenger Cars),
Electric Power Steering Market Scope and Market Size
The electric power steering market is segmented on the basis of type, component, electric motor type, mechanism, and vehicle type. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of type, the electric power steering market has been segmented into R-EPS, P-EPS, and C-EPS.
- On the basis of component, the electric power steering market is segmented into steering column, sensors steering gear, mechanical rack and pinion, electronic control unit, electric motor bearing.
- On the basis of electric motor type, the electric power steering has been segmented into brushless DC motors, brushed DC motors.
- On the basis of mechanism, the electric power steering market is segmented into rigid EPS and collapsible EPS.
- On the basis of vehicle type, the electric power steering market is segmented into commercial vehicles and passenger cars.
Electric Power Steering Market Country Level Analysis
The electric power steering market is analysed and market size insights and trends are provided by country, type, component, electric motor type, mechanism, and vehicle type as referenced above.
The countries covered in the electric power steering market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the electric power steering market due to the high investment and presence of major key players. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2022 to 2029 due to high demand for electronic and fuel efficient systems in passenger cars
Browse Detailed Summary of Research Report @ https://www.databridgemarketresearch.com/reports/global-electric-power-steering-market
How does this Electric Power Steering Market Insights Help?
- Global Electric Power Steering Market share (regional, product, application, end-user) both in terms of volume and revenue along with CAGR
- The Key parameters which are driving this market and restraining its growth
- What all challenges manufacturers will face as well as new opportunities and threats faced by them
- To learn about the market strategies that are being adopted by your competitors and leading organizations
- To Increase insightful analyses of the market and have a comprehensive understanding of the “Electric Power Steering Market” and its commercial landscape
TABLE OF CONTENTS
- Part 01: Executive Summary
- Part 02: Scope Of The Report
- Part 03: Research Methodology
- Part 04: Market Landscape
- Part 05: Pipeline Analysis
- Part 06: Market Sizing
- Part 07: Five Forces Analysis
- Part 08: Market Segmentation
- Part 09: Customer Landscape
- Part 10: Regional Landscape
- Part 11: Decision Framework
- Part 12: Drivers And Challenges
- Part 13: Market Trends
- Part 14: Vendor Landscape
- Part 15: Vendor Analysis
- Part 16: Appendix
For Detailed TOC | Follow @ https://www.databridgemarketresearch.com/toc/?dbmr=global-electric-power-steering-market
Queries Resolved In This Report:
- Which will be the specialties at which Electric Power Steering Market players profiling with intensive designs, financials, and furthermore, ongoing headways should set nearness?
- Which will be the foreseen development rates for your own Electric Power Steering economy out and out and furthermore for each portion inside?
- Which will be the Electric Power Steering application and sorts and estimate joined intently by makers?
- Which will be the dangers which will attack growth?
- The length of the global Electric Power Steering market opportunity?
- How Electric Power Steering Market share advance vacillations their value from various assembling brands?
WHO SHOULD BUY THE GLOBAL ELECTRIC POWER STEERING REPORT?
People looking to enrich the decision-making capability by following points must buy the report:
- Breakdown of market share of the top Electric Power Steering industry players
- Evaluations of market share for the regional and country level sectors
- Estimation of Electric Power Steering market for the forecast period of all the aforementioned classes, sub classes, and the domestic markets
- Tactical recommendation for the newbies
- Tactical recommendation in primary business industries based on the Electric Power Steering market forecast
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