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Global Automotive Electric Power Steering (EPS) Market Size to reach USD 6.38 billion by 2026 | Top Companies like - Jtekt Corporation, Nexteer Automotive, ZF Friedrichshafen, Robert Bosch, NSK Ltd., Hyundai Mobis, Showa Corporation, Delphi, Mitsubishi El

04-22-2020 12:56 PM CET | Business, Economy, Finances, Banking & Insurance

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Automotive Electric Power Steering (EPS) Market

Automotive Electric Power Steering (EPS) Market

Market Study Report adds Global Automotive Electric Power Steering (EPS) market report that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, companies active in the industry and forecasts for the coming years.

Global Automotive Electric Power Steering (EPS) Market is valued approximately at USD 6.38 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 11.5% over the forecast period 2019-2026. Automotive Electric power steering (EPS) is operated by an electric motor to steer the wheel while hydraulic power steering uses a pump that is integrated with an oil tank.

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The regional analysis of global Automotive Electric Power Steering (EPS) Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing vehicle production and sales and rapid electrification of vehicles. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period of 2019-2026.

Further, rise in disposable income, and increase in population, which has resulted in increased demand for premium, as well as non-premium vehicles are likely to impel the demand for Automotive Electric Power Steering (EPS) over the forecast period. However, higher cost of EPS as compared to traditional steering systems is the major factor restraining the growth of global Automotive Electric Power Steering (EPS) market during the forecast period.

For instance, according to India Brand equity Foundation, Indian automotive sales increasing 8.3 per cent year-on-year to 3.99 million units in India and became the fourth largest auto market in 2018. It was the seventh largest manufacturer of commercial vehicles in 2018.

The usage of the pump in hydraulic power steering continually places a load on the vehicle's engine, which in turn affects the fuel consumption and vehicle performance. Power steering systems provide the torque which is applied to the steering wheel to drive the vehicle. The increasing vehicle production, global measures by OEMS to reduce complexity and weight of vehicles and regulatory push towards efficient technologies are the few factors responsible for high CAGR of the market over the forecast period.

Major market player included in this report are:
o Jtekt Corporation
o Nexteer AutomotiveZF Friedrichshafen
o Robert Bosch
o NSK Ltd.
o Hyundai Mobis
o Showa Corporation
o Delphi
o Thyssenkrupp
o Mitsubishi Electric

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market.
Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component Type:
o Steering Column
o Sensor
o Steering Motor
o Other Components

By Vehicle Type:
o Passenger Cars
o Commercial Vehicles

By Region:
o North America
o U.S.
o Canada
o Europe
o UK
o Germany
o Asia Pacific
o China
o India
o Japan
o Latin America
o Brazil
o Mexico
o Rest of the World

Furthermore, years considered for the study are as follows:
o Historical year - 2016, 2017
o Base year - 2018
o Forecast period - 2019 to 2026

Target Audience of the Global Automotive Electric Power Steering (EPS) Market in Market Study:
o Key Consulting Companies & Advisors
o Large, medium-sized, and small enterprises
o Venture capitalists
o Value-Added Resellers (VARs)
o Third-party knowledge providers
o Investment bankers
o Investors

Request a discount on standard prices of this premium report at:
https://www.marketstudyreport.com/check-for-discount/2570981/?utm_source=openpr.com/&utm_medium=VSD

Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2017-2026 (USD Billion)
1.2.1. Automotive Electric Power Steering (EPS) Market, by Region, 2017-2026 (USD Billion)
1.2.2. Automotive Electric Power Steering (EPS) Market, by Component Type, 2017-2026 (USD Billion)
1.2.3. Automotive Electric Power Steering (EPS) Market, by Vehicle Type, 2017-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Automotive Electric Power Steering (EPS) Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Automotive Electric Power Steering (EPS) Market Dynamics
3.1. Automotive Electric Power Steering (EPS) Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Automotive Electric Power Steering (EPS) Market: Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry.

Related Report:
Automotive Fuel Processing System Market Size & Share | Statistics Report 2025

According to credible estimates, automotive fuel processing system (FPS) market is expected to grow considerably during 2020-2025. Growing demand for efficient fuel systems to improve vehicle mileage, coupled with surging need to combat volatile prices of fuel is encouraging the adoption of automotive fuel processing systems. Moreover, stringent government rules restricting carbon emission levels are driving the demand for advanced automotive fuel processing systems.

https://www.marketstudyreport.com/reports/automotive-fuel-processing-system-market

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