Electronic Power Steering Market 2018 Key Country Analysis: Global Key Players JTEKT, Bosch, ZF TRW, NSK, Nexteer, Mando, ThyssenKrupp, Hyundai, Showa, and China Automotive Forecast To 2023

Electronic Power Steering Market Share, Growth, Trends, and Key Country Analysis Research Report 2018 - Forecast to 2023, Global Electronic Power Steering Market will register highest growth through 2023. Report provides in-depth analysis of Electronic Power Steering Industry 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.

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Global Electronic Power Steering market is expected to grow with a CAGR 6.76% by 2023. The report for Global Electronic Power Steering Market comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market.

Electronic Power Steering Key Players Competitive Landscape Analysis:

The key players in Electronic Power Steering market are 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.

These market participants are continuously implementing various strategies such as mergers, partnership, collaboration, product launches, etc. to gain a substantial edge over the market. Competition in the Electronic Power Steering market is heating up. As these key players are increasingly investing towards the development of new technology.

Market Overview:

Electric Power Steering is also known as EPS, uses a motor to assist the driver of the vehicle. Electric steering is increasingly replacing hydraulic steering in the automotive industry. These steering uses electric motor instead and provides increased steering capabilities with less effort, as it removes hose, fluid, drive belt, pulley, and pump.

The global electric 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 steering parts hinder the growth of the electric steering market.

Sensor is an integral part of the global electric 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 steering market.

Segmentation:

The scope of the study segments the global Electric Steerings market by its type and vehicle type, and region

By Type:

C-EPS

P-EPS

R-EPS

Others (Others consist of dual pinion and rack direct drive)

By Vehicle Type:

Passenger Cars

Commercial Vehicles

Regional Analysis:

On the basis of region, the market is segmented based on North America, Asia Pacific, Europe, and Rest of the World. Asia-Pacific has emerged to be the fastest growing market for electric steering market. This region has largest vehicle production due to increasing population and increasing disposable income. Increasing population, improving per capita income, and improving living standards are driving the market for automotive industries and hence expected to drive the market for electric steering. China accounts for the largest market in the Global Electric steering market. The increasing population, improving per capita income and changing lifestyles are driving the market. The region has largest vehicle production. It is one of the major reasons for biggest market for such steering and gaining highest revenue growth. Japan is leading the market for electric 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 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. Europe is expected to account for the second-largest share in the global electric steering market. The large customer base and high disposable income of end-users have fuelled the demand for vehicles in the region. The growing European automotive market represents several opportunities for manufacturers of electric steering system and other automotive parts.

List of Tables:

Table 1 Electronic Power Steering Market: By Region, 2017-2023

Table 2 North America Electronic Power Steering Market: By Country, 2017-2023

Table 3 Europe Electronic Power Steering Market: By Country, 2017-2023

Table 4 Asia Pacific Electronic Power Steering Market: By Country, 2017-2023

Table 5 RoW Electronic Power Steering Market: By Country, 2017-2023

Table 6 Electronic Power Steering Market, By Body Type, By Regions, 2017-2023

Table 7 North America Electronic Power Steering Market, By Body Type, By Country, 2017-2023

Table 8 Europe Electronic Power Steering Market, By Body Type, By Country, 2017-2023

Table 9 Asia Pacific Electronic Power Steering Market By Body Type, By Country, 2017-2023

Table 10 RoW Electronic Power Steering Market By Body Type, By Country, 2017-2023

Continued…

List of Figures:

FIGURE 1 Research Process Of MRFR

FIGURE 2 Top Down & Bottom Up Approach

FIGURE 3 Market Dynamics

FIGURE 4 Impact Analysis: Market Drivers

FIGURE 5 Impact Analysis: Market Restraints

FIGURE 6 Porter’s Five Forces Analysis

FIGURE 7 Value Chain Analysis

Continued…

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