Press release
Electric Power Assisted Steering Market Potential Growth, Share, Demand and Analysis of Key Players & Forecasts to 2029
Global Electric Power Assisted Steering Market
Electric power steering (EPS) operates by using an electric motor to steer the wheel while hydraulic power steering uses a pump that is incorporated with an oil tank. The usage of the pump in hydraulic power steering continually places a load on the vehicle's engine, which in turn affects fuel consumption and vehicle performance. Power steering systems provide the torque that is applied to the steering wheel to drive the vehicle.
EPS removes various HPS components including the pump, fluid, hoses, pulley, and drive belt. Therefore, electric steering systems are lighter and smaller than hydraulic systems. Electric power steering (EPS) operates with the help of a control unit and electric motor that is combined with sensors such as torque sensor. The electric motor operates on a battery and utilizes electric power to assist the steering movement when the driver turns the vehicle's wheel.
Increasing global population and an increase in the public's per capita income are stimulating a high demand for well-equipped cars. This, in turn, is resulting in the speedy growth of the Global Electric Power Steering Market. The Global Electric Power Steering Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Electric Power Assisted Steering Market: Major Players
Hitachi Automotive Systems
Sona Koyo Steering Systems
Zhejiang Wanda Steering Gear Co., Ltd
Trelleborg
TRW Automotive
ThyssenKrupp AG
Mitsubishi Electric Corporation
Golden Company
Tianjin Jinfeng Automobile Chassis Parts Co., Ltd.
ZF Friedrichshafen AG
Martinrea International Inc.
Federal Mogul Corporation
JTEKT Corporation
China Automotive Systems Inc.
FAW Koyo Steering Systems Co., Ltd.
Guangzhou SHOWA Absorber Limited Company
Huafei Industrial Group Automobile Redirector Obligate Co., Ltd.
AVIC-Xihang Yubei Steering System Co., Ltd.
Chongqing Changfeng Machinery Co., Ltd.
Showa Corporation
NSK Ltd.
Hubei Tri-Ring Motor Steering Gear Co., Ltd.
Robert Bosch GmbH
Nexteer Automotive
Delphi Automotive LLP
Anhui Finetech Machinery Co., Ltd
Zhejiang Fulin Guorun Auto Parts Co., Ltd.
Jiangmen Xingjiang Steering Gear Co., Ltd.
Mando Corporation
Hyundai Mobis Co., Ltd.
Global Electric Power Assisted Steering Market: By Types
C-EPAS
P-EPAS
R-EPAS
Global Electric Power Assisted Steering Market: By Applications
Passenger Vehicle
Commercial Vehicle
Others
Global Electric Power Assisted Steering Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Electric Power Assisted Steering market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in
the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
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