Transparency Market Research Forecasts the Automotive Electric Power Steering Sector to Capture a Market Share of US$ 43.0 Billion by 2031

According to a study conducted by Transparency Market Research (TMR), the worldwide Automotive Electric Power Steering market is projected to reach a valuation of US$ 43.0 billion by the conclusion of 2031. Additionally, the report anticipates a steady 5% compound annual growth rate (CAGR) for the market from 2023 to 2031.

At its core, the TMR report strives to deliver a comprehensive appraisal of the global market landscape, spotlighting major frontrunners in the Automotive Electric Power Steering domain. Through this assessment, an easily understandable depiction of both historical and current market conditions is offered, alongside projections regarding market dimensions and evolving patterns. Additionally, the report provides an extensive dataset covering market volume, share, revenue, production, and sales.

Get a Glimpse with a Sample of this Research Report at (Use Corporate Mail Id for Quick Response) - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=72794

 The TMR report is the outcome of a comprehensive exploration facilitated by an array of methodologies, including PESTEL, PORTER, and SWOT analyses. By employing these models, the study casts light on pivotal financial considerations that Automotive Electric Power Steering market participants should prioritize. These insights aid in identifying competition and molding marketing strategies for both consumer and industrial sectors. The report seamlessly integrates a diverse range of research methods, encompassing surveys, interviews, and social media analysis, to provide a holistic understanding of consumer behaviors.

Key Developments in Global Automotive Electric Power Steering Market

In September 2022, Hitachi Astemo, Ltd. developed a steer-by-wire prototype for vehicles, which actuates the tire not mechanically, but through the electric control of steering wheel inputs. The prototype not only releases smooth, effortless steering wheel operations, but also redundancy through a fail-safe function that enables continued operation in the event of failure.
In December 2021, the SAIC Motor and Zhangjiang Hi-Tech led joint venture, IM Motors, delivered the first 200 IM L7 Beta vehicles, which was scheduled to go on for test runs in nine cities in China. The agile development had incurred the "origin" high-end pure electric architecture iO that enabled advanced four-wheel steering and four-wheel drive in the IM's new EV.
In September 2020, DENSO Corporation announced the development of a new Electric Power Steering Motor Control Unit (EPS-MCU), which is capable of delivering improved handling and safety to vehicles. It is featured in Toyota New Harrier, which was released in June 2020, and planned to be featured in cars of various automakers.

Get Your Hands on This Premium Research Report | Quick Delivery Available at - https://www.transparencymarketresearch.com/checkout.php?rep_id=72794<ype=S

Some of the key questions scrutinized in the study are:

What are some of the recent brand building activities of key players undertaken to create customer value in the Automotive Electric Power Steering market?
Which companies are expanding litany of products with the aim to diversify product portfolio?
Which companies have drifted away from their core competencies and how have those impacted the strategic landscape of the Automotive Electric Power Steering market?
Which companies have expanded their horizons by engaging in long-term societal considerations?
Which firms have bucked the pandemic trend and what frameworks they adopted to stay resilient?
What are the marketing programs for some of the recent product launches?

Noteworthy entities within the Automotive Electric Power Steering sector encompass the subsequent names:

JTEKT Corporation
DENSO Corporation
Sona Koyo Steering Systems Ltd.
ZF Friedrichshafen
GKN plc
Robert Bosch GmbH
NSK Ltd.
Mitsubishi Electric Corporation
China Automotive Systems, Inc.
Delphi Technologies
Hyundai Mobis
Thyssenkrupp
SHOWA Corporation
Mando Corp.
Global Steering Systems
Zhejiang Shibao Company Limited
TRIDEC
Hitachi Astemo, Ltd.

Market Segmentation

Motor Assist

Column Assist
Pinion Assist
Rack Assist

Technology

Conventional EPS
EPS with ADAS

Component

EPS Control Module
Electric Motor
Rack & Pinion
Steering Column

Vehicle Type

Passenger Vehicle
Hatchback
Sedan
Utility Vehicles
Light Commercial Vehicles
Heavy Duty Trucks
Buses & Coaches

Personalize your analysis by requesting tailored adjustments in this research report at - https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=72794

 Explore More Trending Reports from Transparency Market Research:

Which regions are witnessing rise in investments in the supply chain networks?
Which countries seems to have benefitted from recent import and export policies?
Which regions have witnessed decline in consumer demand due to economic and political upheavals?
Which are some the key geographies that are likely to emerge as lucrative markets?
Which regions are expected to lose shares due to pricing pressures?
Which regions leading players are expected to expand their footprints in the near future?
What are some the sustainability trends impacting the logistics and supply chain dynamics in the Automotive Electric Power Steering market?
What are some of the demographic and economic environments that create new demand in developing economies?
How are changing government regulations shaping business strategies and practices?

More Trending Reports by Transparency Market Research -

https://www.prnewswire.com/news-releases/ethyl-lactate-market-to-reach-us-6-2-bn-by-the-end-of-2031-tmr-study-301696974.html

https://www.prnewswire.com/news-releases/dry-natural-gas-market-to-reach-us-1-6-trn-by-the-end-of-2031-tmr-study-301697131.html

https://www.globenewswire.com/news-release/2022/12/06/2568683/0/en/Power-Sports-Market-to-Propel-at-a-CAGR-of-5-2-to-Hit-a-Revenue-of-US-57-2-Billion-by-2031-Report-by-Transparency-Market-Research-Inc.html

https://www.globenewswire.com/news-release/2022/12/07/2569562/0/en/Medical-Device-Coatings-Market-to-Exceed-US-81-8-Bn-by-2031-TMR-Study.html

https://www.accesswire.com/732734/Automotive-Lubricant-Market-Estimated-to-Reach-Revenue-of-US-8482-Billion-by-2031-Transparency-Market-Research-Inc

https://www.accesswire.com/732539/Industrial-Protective-Footwear-Market-Size-Estimated-to-Reach-US-1087-Billion-by-End-of-2031-Transparency-Market-Research-Inc

Contact Us

Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453

About Us Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

This release was published on openPR.