Automotive Electronic Power Steering Market Size, Trends, Regional Outlook, Competitive Landscape, Revenue Analysis & Forecast Till 2030

Automotive Electric Power Steering Market was valued at USD 20.15 billion in 2021, and it is expected to reach USD 29 billion by 2027, and is anticipated to register a CAGR of 6.26% during the forecast period (2022-2027).

During the outberak of COVID-19 pandemic, the market was hit adversely becasue of the disrutions caused in the supply chain as several major economies of the world were forced into lockdown and economic activities were halted during this period. All the manufacturing units and OEM plants stopped their production to adhere the social distancing norms and restrict the spread of virus. The demand for passenger vehicles also fell drastically during this period. Yet with the gradual opening up of economies the demand returned to the market and markets like China and India witnessed huge demand for passenger cars as the consumer preferance changed from public transport to personal vehicles. The trend is expected to continue during the forecast period.

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Automotive Electronic Power Steering market Witness Most Promising Rise in Demand

The global Automotive Electronic Power Steering market size is forecasted to expand at a healthy rate in the coming years. Major investments by industry participants for novel product releases, as well as an increase in mergers and partnerships for expansion strategy, are expected to propel the Automotive Electronic Power Steering market forward. Globally, the ABC area is likely to lead the market, with the ABC region growing at the quickest CAGR value and providing advantageous prospects for higher revenues.

The top Leading Market Players Covered in this Report are : Mitsubishi Electric Corporation, Zhuzhou Elite Electro Mechanical Co. Ltd., Robert Bosch Automotive Steering GmbH, Nexteer Automotive, ZF Friedrichshafen Group, JTEKT Corporation, NSK Global, SHOWA Corporation, Hyundai Mobis, Mando.

Manufacturers Information

Zion Market Research's recent analysis of the global Automotive Electronic Power Steering report contains comprehensive information on market participants' significant developments, products, revenue, and more. Overall, ten organizations have been meticulously profiled, allowing the user to devise strategic plans to compete with rivals and a great foothold in the worldwide Automotive Electronic Power Steering industry.

Segmentations

From the forecast period of 2021 through 2027, the segmentation research focuses mainly on profitability and forecasts by 2027 and geography. Sub-segment evaluation is also carried out for all the major segments covered in the research scope. This will enable the user to discover dominating sectors as well as the factors determining the market's expansion. The statistical study of the segmentation and sub-segments will provide an overall picture of a market trend in the existing markets as well as in the future.

On the basis of product type, the Automotive Electronic Power Steering Market report considers the following segments:

Rack Assisted Power Steering System (R-Eps), Electronic Hydraulic Power Steering (Ehps), Column Assisted Electronic Power Steering (C-Eps), And Pinion Assisted Electronic Power Steering (P-Eps

On the basis of applications, the Automotive Electronic Power Steering Market report considers the following segments:

Passenger Cars, Light Motor Vehicles (Lmv), Agricultural Tractors, Special Utility Vehicles (Sports Cars, Cranes, Military Vehicles, Earth Moving) Heavy Motor Vehicles (Hmv)

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Regional Information

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa are the primary regions that make up the global Automotive Electronic Power Steering market. They are also divided into sub-categories based on their geographical location. The geographical analysis helps to determine the main elements that contribute to the market's development in terms of revenue, market share, value, and other metrics. This will assist the user in determining the most lucrative region in the global Automotive Electronic Power Steering market and developing strategies that would benefit the company.

The report examines the influence of Covid-19 on the global Automotive Electronic Power Steering market in detail. The Covid-19 outbreak has had quite a wide range of effects on the market, leading to economic fluctuations. The report's Covid-19 study shall allow the user to assess the industry's level of variance and, based on the recovery analytics, map decisions to be one of the market's leading competitors.Covid-19 Coverage

Who will get the benefit of this report?

The report on the global Automotive Electronic Power Steering industry is presented in a straightforward manner, the statistical insights will help the user grasp the market's development patterns, crucial factors, and any loopholes which may affect the market expansion. The latest study from Zion Market Research can help small & medium investors, equity firms, start-ups, and large manufacturers to understand the market. Besides, retailers, suppliers, and government agencies can also gain useful insights from the research study.

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Report Methodology

Zion market research uses an analytical approach to assist users in gaining a solid understanding of the overall market. The global revenue for the market over the projection period of 2022-2028 is derived using a top-down and bottom-up approach where the sale of products is calculated at the regional as well as country level. The specialized research analysts conducted extensive primary and secondary research to collect validated information. During secondary research, analyst focuses on authenticating data sources such as company annual reports, SEC filing, investor presentations, articles, journals, and news channels news to construct the market number. All this information is validated through comprehensive primary research to validate the secondary research data with industry experts.

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