Heavy Commercial Vehicle EPS Market Size 2022 Manufacturing Size, Share, Opportunities, Trends, Industry Expansion Strategies and Global Analysis by Forecast to 2027

The Heavy Commercial Vehicle EPS Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report. The market report additionally gives a to-the-point evaluation of the techniques and plans of action that are being executed by the players and companies to contribute to the Heavy Commercial Vehicle EPS market growth.

The Global Heavy Commercial Vehicle EPS Market Size is Projected to Reach at a CAGR of 7% during 2022-2027.

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Market Overview

The Indian economy is growing, and the disposable incomes of the middle-class consumers are also increasing. This, in turn, reflects positively on the rising demand for vehicles. Over the past five years, owing to the low production costs in the country, vehicle production has gone up drastically. Due to the hike in vehicle production, the electric power steering component market is also gaining momentum. Additionally, the Indian government has modified the tax slabs on gasoline, diesel, and hybrid cars, in its 2018 budget to promote vehicle sales.
The market is expected to be driven by the growth in budget and sport segment vehicles. However, OEMs have started focusing on implementing cost-effective and strong EPS systems in commercial vehicles (especially, heavy tractors and trucks). Hence, there has been widespread utilization of these technologies in passenger and light commercial vehicles.

Top Leading Companies:

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

Recent Development:

In February 2019, Nexteer Automotive had announced that it has reached the production milestone of 60 million electric power steering (EPS) systems globally. This EPS system increases the fuel efficiency up to 6% and CO2 emissions up to 8 grams per kilometer.
Rane NSK Steering Systems Private Limited (RNSS), is a joint venture of NSK Ltd. and Rane Group, and manufacturers electric power steering (EPS) and manual steering column (MSC) for passenger cars and commercial vehicles. RNSS has been continuously investing over past two years (2016-2017) to meet the increasing demand for EPS in India. In 2017, RNSS planned to invest INR 2 billion for expansion of seatbelt, airbag and electric power steering businesses in India.

Heavy Commercial Vehicle EPS Market Segmentation by Type:

C-EPS
P-EPS
R-EPS

Heavy Commercial Vehicle EPS Market Segmentation by Application:

Long Distance
Short Distance

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Regional Heavy Commercial Vehicle EPS Market (Regional Output, Demand & Forecast by Countries)

North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And additional.

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Highlights of the Heavy Commercial Vehicle EPS Market Report:

Detailed overview of Heavy Commercial Vehicle EPS Market
Changing the Heavy Commercial Vehicle EPS market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
Historical, current and projected Heavy Commercial Vehicle EPS market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Heavy Commercial Vehicle EPS Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth.

The research includes historic data from 2016 to 2022 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, the Heavy Commercial Vehicle EPS Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Heavy Commercial Vehicle EPS industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.

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