Significant CAGR Growth to Be Achieved by Electric Power Steering System Market by Global Trends, Size, Growth Rate by 2023

Global Analysis on Electric Power Steering System Market: An Electric power steering (EPS) is a system that relies on a motor to provide auxilary torque in a vehicle to assist the driver. The EPS allows the driver to follow a desired trajectory without necessitating extreme physical effort in an automobile. Electric power steering is increasingly replacing hydraulic power assisted steering (HPAS) as it facilitates finding of the right sensitivity and stability at high speed and easy maneuvering of the vehicles while parking, even at low speed. Moreover, the EPS system primarily uses an electric motor in order to provide increased steering capabilities with less effort, eliminating the need for hoses, fluids, drive belts, pulleys, and pumps.

The global market for electric power steering systems is progressing rapidly and is directly proportional to the growth of the automobile manufacturing sector. The adoption rate of EPS system in the passenger cars and sports utility vehicles is significantly increasing as it provides ease in driving and reducing the functional complexities of hydraulic power assisted steering systems. Moreover, the EPS systems provide higher fuel efficiency over HPAS systems.

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Following Top Companies are mentioned in this Electric Power Steering System Market Report:
JTEKT Corporation, NSK Ltd., Nexteer Automotive, Hyundai Mobis, Robert Bosch GmbH, ThyssenKrupp AG, ZF Friedrichshafen AG, Showa Corporation and Mando Corporation, Federal-Mogul others.

Market segmentation
For the study, the global electric power steering system market has been segmented on the basis of component, type and region. Of all the component, the column assist electric power steering (C-EPS) segment accounted for the largest market share in 2017, and is projected to grow at the highest CAGR during the forecast period. On the basis of type, the passenger vehicle segment accounted for the larger market share in 2017. On the basis of regions, global electric power steering system market is segmented into North America, Asia-Pacific, Europe, South America, and Middle East & Africa. North America accounted for the largest market share in 2017.

Scope of the Report
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
Passenger Vehicle, Commercial Vehicle

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On the basis of the end users/applications, this report focuses on the status and outlook for major applications/end users,
Government, Research, Education, Distribution vendors, Technology Innovators

The Report Covers Following Regions: Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa

The study objectives of this report are:
To analyze and study the global Electric Power Steering System Market capacity, production, value, consumption, status (2013-2017) and forecast (2018-2023);
Focuses on the key Electric Power Steering System manufacturers, to study the capacity, production, value, market share and development plans in future.
Focuses on the global key manufacturers, to define, describe and analyze the market competition landscape, SWOT analysis.
And more…

Table of Content:
1 Report Prologue
2 Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
3 Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary research
3.4 Market Size Estimation
4 Market Dynamic
4.1 Introduction
4.2 Drivers
And more…

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