Press release
Electric Power Steering Motor Market Size, Status and Growth 2021 Outlook to 2027: MITSUBA, FZB, Nidec, Johnson Electric, MAHLE Group, Toshiba, JTEKT, Bosch, Hitachi
Electric Power Steering Motor Market 2021 report helps the clients to take business decisions and to understand strategies of major players in the industry. The report also calls for market- driven results deriving feasibility studies for client needs. Market Insights Reports ensures qualified and verifiable aspects of market data operating in the real- time scenario. The analytical studies are conducted ensuring client needs with a thorough understanding of market capacities in the real- time scenario.The global electric power steering market is estimated to be USD 25.2 billion in 2021 and is projected to grow at a CAGR of 5.0% during the forecast period to, USD 32.2 billion by 2026.
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Top Companies in the Global Electric Power Steering Motor Market: MITSUBA, FZB, Nidec, Johnson Electric, MAHLE Group, Toshiba, JTEKT, Bosch, Hitachi, General Ricambi, LG Innotek and others.
Industry News:
In May 2020, ZF Friedrichshafen AG acquired WABCO in a USD 7 billion deal. WABCO is now integrated into ZF as its Commercial Vehicle Control Systems Division, and ZF and WABCO will form global integrated systems for commercial vehicle technology. WABCO and ZF had earlier partnered for developing systems such as Evasive Maneuver Assist for collision mitigation in commercial vehicles. WABCO had also been a critical supplier of braking systems to ZF.
In January 2020, JTEKT acquired shares of Yutaka Seimitsu Kogyo Ltd. from Toyota Motor Corporation (Toyota). Yutaka manufactures automotive parts and sells gears for general machines. The aim of the deal is to strengthen the competitiveness of Toyota and JTEKT’s core driveline operations. Going forward, all Yutaka operations related to drive components will be transferred from Toyota to JTEKT.
Market Overview:
The electric power steering (EPS) system uses an electric motor, instead of a pump, to steer the wheel. The usage of the pump continually places a load on the engine, in turn, affecting the fuel consumption and performance of the vehicle.
Regional Analysis:
Asia-Pacific dominates the market, and it is expected to witness the same trend over the forecast period, with China dominating the market, followed by India and Japan.
China is the largest automobile market in the world. More than 25.3 million vehicles were sold in the country in 2020 and recorded an 1.2% decline in the sales compared to 2019. However, China is still the largest automotive market due to the sheer number of vehicles that are associated with the country.
Market Segmented by Types:
Steering Shaft Type
Geared Type
Rack Type
Market Segmented by Applications:
Passenger Car
Commercial Vehicle
Regional Analysis:
– North America (United States, Canada, Mexico)
–Europe (Germany, UK, France, Italy, Spain, Russia)
–Asia-Pacific (China, Japan, South Korea, Australia, India)
–South America (Brazil, Argentina, Columbia)
–The Middle East and Africa (UAE, Egypt, South Africa)
Influence of the Electric Power Steering Motor market report:
-Comprehensive assessment of all opportunities and risk in the Electric Power Steering Motor market.
-Electric Power Steering Motor market recent innovations and major events.
-Detailed study of business strategies for growth of the Electric Power Steering Motor market-leading players.
-Conclusive study about the growth plot of Electric Power Steering Motor market for forthcoming years.
-In-depth understanding of Electric Power Steering Motor market-particular drivers, constraints and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Electric Power Steering Motor market.
Browse full report including (TOC, Company profiles, Types & Applications etc.) @:
https://www.marketinsightsreports.com/reports/06112970791/global-electric-power-steering-motor-sales-market-report-2021?Mode=Dcloe
Important Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
Finally, Electric Power Steering Motor Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
We Also Offer Customization on report based on specific client Requirement:
– Free country Level analysis for any 5 countries of your choice.
– Free Competitive analysis of any 5 key market players.
– Free 40 analyst hours to cover any other data point.
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About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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