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Electric Power Steering Market to Observe Highest Growth with Excellent CAGR of 7.77% in the Forecast

06-20-2023 08:25 PM CET | IT, New Media & Software

Press release from: Data Bridge Market Research

Electric Power Steering Market

Electric Power Steering Market

Electric Power Steering Market research report, comprehensive analysis of the market structure along with forecast of the various segments and sub-segments of the  industry can be obtained. The report highlights CAGR value fluctuations during the forecast period of 2023-2030 for the market. Effortlessness maintained in research method and application of best tools and techniques make this market report an exceptional. Electric Power Steering market analysis report make available the market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, and market demand and supply scenarios.

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Product definition

EPS (Electric Power Steering) is a type of power steering that uses a motor to aid the driver. In the automotive business, electric steering is progressively replacing hydraulic steering. Because it eliminates the hose, fluid, drive belt, pulley, and pump, these steering systems enable higher steering capabilities with less effort.

Some of the major players operating global Electric Power Steering market are

JTEKT Corporation, Nexteer Automotive, ZF Friedrichshafen AG, Robert Bosch GmbH, Melrose Industries PLC, Tenneco Inc., NSK Ltd, HYUNDAI MOBIS, thyssenkrupp AG,SHOWA CORPORATION, DENSO CORPORATION, BorgWarner Inc., ZF Steering Gear (India) Limited, Renesas Electronics Corporation, Infineon Technologies AG, Mando Corp, Rane Holdings Limited, NIDEC CORPORATION, Mitsubishi Electric Corporation and Johnson Electric Holdings Limited ., among others.

Key Market Segments Covered in Electric Power Steering Market Industry Research

By Type (R-EPS, P-EPS, C-EPS),

Component (Steering Column, Sensors Steering Gear, Mechanical Rack and Pinion, Electronic Control Unit, Electric Motor Bearing),

Electronic Motor Type (Brushless DC Motors, Brushed DC Motors),

Mechanism (Rigid EPS, Collapsible EPS),

Vehicle Type (Commercial Vehicles, Passenger Cars), 

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