Commercial Vehicle EPS Market 2022 Industry Outlook and Sales Analysis 2027- JTEKT, NSK, Nexteer

The report provides a strategic analysis of the Global Commercial Vehicle EPS Market and the growth estimates for the forecast period 2022 to 2027. The report offers qualitative and quantitative insights and a detailed analysis of market size & growth rate for all possible segments in the market. This report focuses on the major drivers, restraints, opportunities, and threats for key players. Also report focuses on Commercial Vehicle EPS Market Trends, volume, and value at the global level, regional level, and company level.

The Commercial Vehicle EPS Market is expected to register a CAGR of 5.7% over the forecast period 2022 – 2027.

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Top companies operating in the Global Commercial Vehicle EPS market profiled in the report are: 

JTEKT, NSK, Nexteer, ZF, Mobis, Showa, Thyssenkrupp, Mando

Industry News:

In October 2019, Denso revealed that it is creating the world’s first 2 drive Electric Power Steering MCU, which is expected to protect the vehicle in case of sudden steering failure during automated driving.
In October 2019, JTEKT Corporation (JTEKT) started a new production facility in Morocco. About JPY 2.4 billion was spent to construct the plant. The new plant will start mass production of electric power steering systems from October 2020.
In September 2021, ThyssenKrupp has invested EUR 6.2 million into a new automotive R&D Competence Center in Budapest to develop electromechanical power steering systems that can co-operate with a variety of driver assistance and self-driving systems.
In August 2021, Nexteer Automotive announced the expansion of its pinion electric steering (EPS) systems to meet the needs of heavier electric vehicles. The new high output solutions benefit OEM customers to steer heavier EV loads without the need for traditional premium EPS technologies for heavy load vehicles.
Nexteer Automotive entered an agreement with Dongfeng Motor Parts and Components Group to create Dongfeng Nexteer Steering Systems (Wuhan) Co. Ltd. This new company will deal with the production of single pinion assist electric power steering (SPEPS) systems.

Market Segmentation by Types covers:

C-EPS
P-EPS
R-EPS

Market Segmentation by Applications covers:

Light Commercial Vehicle
Heavy Commercial Vehicle

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Key Market Trends

Government Initiatives and Growing Emphasis on Safer Automotive Systems are Driving the Market

On average, globally, about 1.24 million people die in road accidents each year, half of whom are vulnerable road users, such as pedestrians and motorcyclists, while the other half die because of side-impact accidents. According to the World Health Organization (WHO), 80% of cars sold in the world are not compliant with the main safety standards. Only 40 countries have adopted the full set of the seven most important regulations for car safety.

Asia-Pacific Dominated the Global Market

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 a 1.2% decline in 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.

Regional Analysis for Commercial Vehicle EPS Market:

North America, Latin America, Asia-Pacific, Africa, and Europe, and others have been studied at length based on various parameters of businesses such as type, size, application, and end-users.  The global Commercial Vehicle EPS Market is presented for niche reading. The report presents portfolios of different strategies and the best practices governing businesses. Some applicable sales methodologies have been included in this research report, that could influence business output.

Major Points Covered in Table of Content:

Overview: Along with a broad overview of the global Commercial Vehicle EPS Market, this section gives an overview of the report to give an idea about the nature and contents of the research study.

Analysis on Strategies of Leading Players: Market players can use this analysis to gain a competitive advantage over their competitors in the Commercial Vehicle EPS Market.

Study on Key Market Trends: This section of the report offers a deeper analysis of the latest and future trends of the Commercial Vehicle EPS Market.

Market Forecasts: Buyers of the report will have access to precise and validated estimates of the total market size in terms of value and volume. The report also provides consumption, production, sales, and other forecasts for the Commercial Vehicle EPS Market.

Regional Growth Analysis: All major regions and countries have been covered in the report. The regional analysis will help market players to tap into unmapped regional markets, prepare specific strategies for target regions, and compare the growth of all regional markets.

Market Analysis: The report provides accurate and reliable forecasts of the market share of important segments of the Commercial Vehicle EPS Market. Market participants can use this analysis to make strategic investments in key growth pockets of the Commercial Vehicle EPS Market.

Key Reasons to Purchase:

– To gain understanding analyses of the Commercial Vehicle EPS Market and have a comprehensive understanding of the global market and its commercial landscape.

– To understand the most affecting driving and restraining forces in the market and their impact on the global market.

– To understand the future outlook and prospects for the Commercial Vehicle EPS Market.

– To know the Key market trends across the business segments, Regions, and Countries.

– To analyse competitive growths such as new product launches, agreements, and share in the market.

We also offer customization on reports based on specific client requirements:

1- Free Country-level analysis for any 5 countries of your choice.

2- Free Competitive analysis of any 5 key market players.

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