Electric Power Steering Market 2018 Global Share, Size, Key Company Analysis: JTEKT, NSK, Nexteer, Hyundai, Bosch, ThyssenKrupp, ZF Friedrichshafen, Showa Mando, and Federal-Mogul

Electric Power Steering Market is to grow at strategic CAGR over the forecast period of 2018 to 2023. Electric Power Steering Market Report - Forecast to 2023 is latest research report published by “Market Research Future”, which provides comprehensive information on Global Electric Power Steering Market Size, Share, Industry Trends, Regional Analysis with historic and forecast data to 2023.

The global Electric Power Steering market is expected to reach $28,348.6 Million by 2023 with 6.41% CAGR. Electric Power Steering Global Industry is segmented by y Type (Passenger Vehicle, Commercial Vehicle), by Component ( C-EPS, P- EPS, R- EPS), by Region.

Electric Power Steering Global Market Key Players Analyzed in Report Are:

JTEKT Corporation, NSK Ltd., Nexteer Automotive, Hyundai Mobis, Robert Bosch GmbH, ThyssenKrupp AG, ZF Friedrichshafen AG, Showa Corporation and Mando Corporation, Federal-Mogul.

Get Sample Copy Of “Electric Power Steering Market Research Report – Forecast to 2023” At: https://www.marketresearchfuture.com/sample_request/6263

Electric Power Steering Market Highlights:

The fuel efficiency of electric power steering is a key proponent for product demand and the consequent market growth. EPS has growth to replays hydraulic steering which uses a pump turned by the car’s engine, thus burning fuel. However, EPS functions using energy which cuts down on 90% of the energy used by hydraulic steering, offering fuel-efficiency benefits. Many well-established car manufacturers are shifting their automotive line up to favor EPS as it offers a comfortable steering experience and the feeling of proper control.

Moreover, growth of the automotive sector in fast-developing countries in Asia and Latin America is also providing an impetus to the market. The outlook towards EPS system market remains positive throughout the course of the review period. Incessant advances in the automotive technology coupled with opportunities arising from emerging markets is creating favorable conditions for market participants.

The electric power steering is also considered to be superior when compared to the hydraulic power steering systems as they eliminate the layer of feedback between the driver and the road surface. The increased adoption of EPS in vehicles has boosted the demand for steering wheel sensors indirectly. Because of these factors, most new cars sold today feature electric power steering. The increased production of passenger cars and sports utility vehicles are driving the market for EPS. The growing automotive industry is the will continue driving the market for electronic power steering systems in the duration of the forecast period as well.

Electric Power Steering Market Segmentation:

The segmentation of the electric power steering system market is carried out based on type and component. Based on type, the market is segmented into passenger cars and commercial vehicles. The passenger car segment is leading the electric power steering system market and is also anticipated to develop with a rapidly growing CAGR during the forecast period from 2018 to 2023. The commercial vehicle is the next biggest segment based on type and accounted for 36.8 percent share in the same year. By Component, the market is segmented into pinion assist electric power steering (P-EPS), column assist electric power steering (C-EPS) and rack assist electric power steering (R-EPS). Column assists electric power steering is leading the market in 2017 and is projected to develop with a positive CAGR during the forecast period. Pinion assist electric power steering has added a major market share in the electric power steering system market owing to better demand from manufacturers of electric power steering system.

Regional Analysis:

Led by Germany, Europe accounts for 42.7% share of the global market. European government authorities have taken several initiatives to improve vehicle safety which has led to OEMs increasingly incorporating safety features and EPS systems due to the high-quality control of the vehicle that the technology offers. Prominent countries that are driving the growth of the global EPS market include France, Germany, and the UK with Germany possessing close to a third of the total market.

Meanwhile, the Asia-Pacific is the second largest market and is expected to witness the fastest growth in the global market due to the presence of massive consumer population and the establishment of emerging economies as manufacturing hubs, particularly for the automotive industry. The comparatively cheap labor and overall reduced operating costs available in the region have prompted leading market players to establish manufacturing units. The growth of various emerging economies such as India, China, Japan and others is expected to propel the region and the global market in the coming years.

Major Table Of Contents:

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

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

3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends

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

Continued...

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