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Global Automotive Electric Power Steering Market Report, Market Size, Share, Trends, Analysis and Forecast to 2028
EPS or EPAS stands for electric power steering, a kind of power steering system. The MDPS acronym stands for motor-driven power steering. An electric motor is used by the electric power steering system to aid the driver in steering. There are sensors that measure the position and force of the steering column and transmit this data to the electronic power steering module. The electronic power steering module subsequently regulates the motor's speed and supplies the necessary torque in response to various driving circumstances.
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Europe is projected to have the highest CAGR over the forecast period, owing to the location of several major vehicle manufacturers; Europe holds the second-largest share of the market, with Germany ranking first. Due to the high vehicle penetration in Europe, this continent is a significant market for Automotive EPS. Additionally, the demand for Automotive EPS is being driven by the region's steadily increasing auto production.
Some of the key players profiled in the Automotive Electric Power Steering Market include Denso Corporation, NSK, Hitachi Automotive Systems Ltd, Mitsubishi Electric Corporation, Robert Bosch GmbH, Nexteer Automotive, GKN PLC, Hyundai Mobis Co. Ltd, Bosch, ZF Friedrichshafen AG, Hubei Henglong Auto System Group, Tesla, Sona Koya Steering Systems Ltd. and KSR International Company.
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Comprehensive profiling of additional market players (up to 3)
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Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
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Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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