Press release
Global Automotive Electric Power Steering Market Key Trends, Strategies to 2025 | Top Companies are: GmbH, Electric Power Steering JTEKT Corporation, NSK Ltd., ZF TRW Automotive Holdings Corp., Mando Corporation, Nexteer Automotive Group Limited, Hyundai
Global Automotive Electric Power Steering Market
Most new cars that are currently sold are equipped with electric power steering (EPS). It is believed that the market for EPS systems is growing at an accelerated pace, as more cars and sport utility vehicles (SUVs) are being produced. The EPS market is mainly related to the growing demand for energy efficiency and the growth of the automotive industry in emerging economies. The market is estimated to grow at XX% CAGR to reach USD XX Billion by the year 2025.
Global Automotive Electric Power Steering Market Drivers and Restraints:
The global electric power steering market is a very dynamic market and is expected to experience strong growth during the forecast period. The growth of electric power steering is influenced by the automobile manufacturing sector and the research and development activities carried out by various automotive companies. In addition, safety regulations and increased demand for automotive sensors have led to the emergence of the fastest growing Asia-Pacific region. The increase in the number of electric vehicles has boosted the market demand, while the after-sale services provided for the parts hamper the growth of the electric power steering market. The significantly higher cost of electric power steering than hydraulic steering systems, which are the most commonly used alternative, remains an obstacle for car manufacturers. This is mainly due to the lack of completion of the supply chain and the lack of economies of scale. In addition, to develop power steering solutions, suppliers and OEMs must cooperate to ensure that the steering systems comply with the design and other requirements of the models. This creates a considerable burden for suppliers due to their weak research and development.
Browse details of research report developed on China Automotive Electric Power Steering Market @ https://www.researchcosmos.com/reports/china-automotive-electric-power-steering-market-research-report-2018/3649458
Global Automotive Electric Power Steering Market Geographic Segmentation:
On the basis of geography, Global Automotive Electric power Steering Market is segmented into regions such as North America, Latin America, Europe, Middle East and Africa and Asia Pacific. Europe is estimated to grab significant share of the market in forecasted years. In 2017, the region dominated its revenues, and this trend is expected to continue in the market over the next few years. If growth is forecast at a compound annual growth rate of XX%, the regional market could obtain 12 BPS on its market share before the year of the final forecast. The Asia-Pacific region, with the exception of Japan could represent another attractive region for the global EPS car market with an estimated USD XX billion market for 2025. North America expected to grow at a compound annual growth rate of XX%. However, Japan could lose 14 BPS at the end of the forecast period. The Middle East and Africa could show slow growth in the future.
Key Players in Global Automotive Electric Power Steering Market:
Major players competing in Global Automotive Electric Power Steering Market include Robert Bosch Automotive Steering GmbH, Electric Power Steering JTEKT Corporation, NSK Ltd., ZF TRW Automotive Holdings Corp., Mando Corporation, Nexteer Automotive Group Limited, Hyundai Mobis Co., Ltd., ThyssenKrupp Ag, China Automotive Systems Inc., and Showa Corporation among others.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.
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