Global Electric Power Steering System (EPS) Market to Expand at Promising Pace as Emission Control Norms Become Increasingly Stringent Globally

A recent market research report added to the expansive portfolio of ResearchMoz.us presents an analytical account of the growth prospects of the global market for electric power steering systems over the period between 2018 and 2025. The report is titled “Global Electric Power Steering System (EPS) Market Insights, Forecast to 2025.”

The market for automotive electric power steering systems has gained increased impetus in the past few years as these systems can bring about 5% reduction in the overall fuel consumption pattern of a vehicle. This reduction can bring about a major difference in the amount of emissions generally produced by a vehicle, leading to a vast change in the overall pollution burden of the automotive industry on the general environment.

As governments across the globe look at ways of bringing down their emission burdens on the environment, the use of electric power steering systems is highly encouraged. The use of these systems is also being mandated in a number of countries through certain stringent regulations. As a result, the global uptake of electric power steering systems has significantly increased and is likely to continue to rise in the next few years as well.

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The report segments the global electric power steering system market based on criteria such as type, application, and geography. Based on type, the market is segmented into passion assist type (P-EPS), column assist type (C-EPS), and rack assist type (R-EPS). Based on key applications of electric power steering systems, the report segments the market into commercial vehicles and passenger vehicles.

On the basis of geography, the report segments the electric power steering system market into regions/countries such as United States, China, South Korea, Japan, India, and Europe. Detailed overview of regions such as North America, Asia Pacific, Central and South America, and Middle East and Africa is also included in the report. Presently, Europe accounts for the dominant share in the overall market owing to it being the largest producer of these systems as well as a variety of vehicles that are imported across the globe. The region is likely to remain a leading contributor of growth opportunities as well as revenue to the global market over the forecast period as well. The market in Asia Pacific is also steadily making its position strong in the market owing to the increased automotive production capacities of China, South Korea, and Japan.

The report also examines the vendor landscape of the global electric power steering system market wherein along with the detailed business profiles of some of the leading companies in the market, recent developments and their impact on the overall market are also recognized in great details. Some of the leading companies in the market profiled in the report are Mando, Bosch, JTEKT, Nexteer, Showa, NSK, Mobis, ZF, and Thyssenkrupp.

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This release was published on openPR.