Electric Power Steering Market Highlights:
Sensor is an integral part of the global Electric Power Steering market. Sensors detect the motion and torque of the steering column and a computer module applies assistive power through an electric motor coupled directly with either the steering gear or steering column. As per MRFR analysis, the automotive sensor market is estimated to increase by 7.42% (approx.) between 2016 and 2022. The demand for automotive sensor has boosted the Electric Power Steering market.
Electric power steering is ideal for electric vehicles. As it functions without the need for power steering fluid, electronic power steering reduces maintenance cost. The system is easy to install in the assembly line because there are no pumps and hydraulic fluid involved. The EPS-equipped cars are less expensive as compared to those with the hydraulic system. Electric power steering uses 90% less energy than hydraulic steering, which ensures longer life of engines, thus reducing maintenance costs.
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Electric Power Steering Market Key Players Analyzed are:
Electric Power Steering JTEKT Corporation, Robert Bosch Automotive Steering GmbH, ZF TRW Automotive Holdings Corp., NSK Ltd., Nexteer Automotive Group Limited, Mando Corporation, ThyssenKrupp Ag, Hyundai Mobis Co., Ltd., Showa Corporation, and China Automotive Systems Inc.
This research report provides insights, on various levels of analysis such as industry analysis, and market share analysis for the leading players along with their profiles. It also helps in studying the target segments by providing views on emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios & strategies in the global construction lift market, including high-growth regions and/or countries, and political, & economic environments. The project report, further, provides views on both the historical market values and pricing & cost analysis
The global Electric Power Steering market is a very dynamic market and is expected to witness a high growth over the forecast period. The growth of the electric power steering is influenced by the automobile manufacturing sector and the research &development activities by various automotive firms. Furthermore, safety regulations and increase in the demand of automotive sensors, have led to the emergence of Asia-Pacific as the fastest growing region. Increase in the number of electric vehicles has propelled the demand of the market while after-sales services rendered for Electric Power Steering parts hinder the growth of the Electric Power Steering market.
Global Electric Power Steering Market Segmented by Vehicle Type (Passenger Vehicle and Commercial Vehicle), Type (Column Assist Electric Power Steering (C-EPS)), Pinion Assist Electric Power Steering (P-EPS), Rack Assist Electric Power Steering (R-EPS)), and by Regions.
Japan is leading the market for Electric Power Steering after China and US. The domestic auto production in Japan has increased over the last few years. The region has the largest vehicle production due to changing lifestyle and increasing disposable income and hence expected to drive the market for Electric Power Steering. The Indian steering systems market is closely linked to the automotive market. The automotive industry in India contributes largely to the country’s gross domestic product (GDP). In addition to increased vehicle production the steering systems market is also gaining from the Indian consumer’s growing awareness on the benefits of power steering in terms of convenience.
The total sale of vehicles in Brazil has declined over the last few years and the reason is attributed to the fall in their economic growth. Although, the demand for automobiles is increasing but the overall growth of the market is declining. Saudi Arabia is expected to have a moderate market growth due to increasing purchase of luxurious cars. High investment in infrastructure and high income level are expected to drive the global Electric Power Steering market.
Major Table Of Content:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global Electric Power Steering Market, By Type
5.2 Hydraulic Actuator
5.2.1 Market Estimates & Forecast, 2017-2023
5.2.2 Market Estimates & Forecast By Region, 2017-2023
5.3 Electric Actuator
5.3.1 Market Estimates & Forecast, 2017-2023
5.3.2 Market Estimates & Forecast By Region, 2017-2023
5.4 Pneumatic Actuator
5.4.1 Market Estimates & Forecast, 2017-2023
5.4.2 Market Estimates & Forecast By Region, 2017-2023
6 Global Electric Power Steering Market, By Application Type
6.2 Throttle Actuator
6.2.1 Market Estimates & Forecast, 2017-2023
6.2.2 Market Estimates & Forecast By Region, 2017-2023
6.3 Fuel Injection Actuator
6.3.1 Market Estimates & Forecast, 2017-2023
6.3.2 Market Estimates & Forecast By Region, 2017-2023
6.4 Brake Actuator
6.4.1 Market Estimates & Forecast, 2017-2023
6.4.2 Market Estimates & Forecast By Region, 2017-2023
6.5.1 Market Estimates & Forecast, 2017-2023
6.5.2 Market Estimates & Forecast By Region, 2017-2023
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