Electric Power Steering Market Size Reach USD 41.10 Billion By 2030, Growing at a CAGR of 5.8%

𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:

● 𝐓𝐡𝐞 𝐞𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐩𝐨𝐰𝐞𝐫 𝐬𝐭𝐞𝐞𝐫𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 𝐔𝐒𝐃 𝟐𝟓.𝟎𝟗 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟏.

● 𝐓𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐞𝐱𝐩𝐚𝐧𝐝 𝐚𝐭 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟓.𝟖% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟐 𝐭𝐨 𝟐𝟎𝟑𝟎.

● 𝐓𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐠𝐫𝐨𝐰 𝐭𝐨 𝐔𝐒𝐃 𝟒𝟏.𝟏𝟎 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟎.

𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

Electric Power Steering (EPS) is a modern steering system found in vehicles that uses an electric motor instead of hydraulic systems to offer steering support. The primary goal of EPS is to provide the driver with increased control over the vehicle through the provision of varying steering assistance dependent on driving conditions and velocities. EPS operates without a hydraulic pump, in contrast to hydraulic systems, leading to improved fuel efficiency. The assistance provided by the electric motor in EPS adjusts according to the steering input, resulting in a smoother and more responsive driving experience.

𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/industry-analysis/electric-power-steering-market/request-for-sample

𝐆𝐫𝐨𝐰𝐭𝐡 𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐚𝐧𝐝 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬:

Several factors, such as the increase in government regulations on fuel-efficient technologies, the rise in automotive production, especially of electric vehicles, and global efforts by OEMs to simplify and lighten their vehicles, are driving the market's growth. Additionally, the increasing need for advanced power-assisted steering, along with regulations and efforts to reduce carbon emissions, also supports market expansion.

𝐊𝐞𝐲 𝐏𝐚𝐫𝐭𝐢𝐜𝐢𝐩𝐚𝐧𝐭𝐬:

The market is characterized by intense competition, and the top companies depend on advanced technology, high-quality products, and a robust brand image to enhance sales. Some of the major players participating in the electric power steering market analysis:

• BorgWarner
• Hycet Technology Co. Ltd.
• Hyundai Mobis
• JTEKT
• Mando Corporation
• Mitsubishi Electric
• Nexteer
• NSK
• Robert Bosch
• Tenneco
• ThyssenKrupp
• ZF Friedrichshafen AG.

𝐍𝐞𝐞𝐝 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐦𝐨𝐫𝐞 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐛𝐞𝐟𝐨𝐫𝐞 𝐩𝐮𝐫𝐜𝐡𝐚𝐬𝐞: https://www.polarismarketresearch.com/industry-analysis/electric-power-steering-market/inquire-before-buying

𝐂𝐨𝐮𝐧𝐭𝐫𝐲-𝐖𝐢𝐬𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

Regional analysis provides an examination of the key variables, including social, physical, and economic, in a regional context. It helps companies understand the needs and wants of their customers in target markets. Thus, stakeholders can make informed decisions about their products or service offerings. Also, regional analysis assists businesses in identifying regions with high growth potential and where they should focus their efforts. Furthermore, it can help stakeholders understand local conditions to analyze policy related to global change.

𝗧𝗵𝗲 𝗸𝗲𝘆 𝗿𝗲𝗴𝗶𝗼𝗻𝘀 𝗮𝗻𝗱 𝘀𝘂𝗯-𝗿𝗲𝗴𝗶𝗼𝗻𝘀 𝗼𝗳 𝘁𝗵𝗲 𝗘𝗹𝗲𝗰𝘁𝗿𝗶𝗰 𝗣𝗼𝘄𝗲𝗿 𝗦𝘁𝗲𝗲𝗿𝗶𝗻𝗴 𝗠𝗮𝗿𝗸𝗲𝘁 𝗰𝗼𝘃𝗲𝗿𝗲𝗱 𝗶𝗻 𝘁𝗵𝗲 𝗿𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗿𝗲𝗽𝗼𝗿𝘁 𝗮𝗿𝗲:

• North America (U.S., Canada) • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia) • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea) • Latin America (Brazil, Mexico, Argentina) • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

The electric power steering market trend is primarily segmented on the basis of component, mechanism, type, vehicle, and region. Based on the component analysis, the sensors segment is anticipated to account for the largest share of the global market. It is also anticipated to register the fastest CAGR during the forecast period. This is because sensors have a significant impact on the market. Sensors are responsible for identifying two main factors in the electric power steering industry.

Furthermore, according to the vehicle analysis, the passenger cars segment is expected to earn a larger share of the global market. This can be attributed to the rapid growth of technology in cars.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐭𝐡𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞: https://www.polarismarketresearch.com/industry-analysis/electric-power-steering-market

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

𝗢𝗶𝗹 𝗙𝗿𝗲𝗲 𝗔𝗶𝗿 𝗖𝗼𝗺𝗽𝗿𝗲𝘀𝘀𝗼𝗿 𝗠𝗮𝗿𝗸𝗲𝘁: https://www.polarismarketresearch.com/industry-analysis/oil-free-air-compressor-market
𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐌𝐨𝐭𝐨𝐫𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.polarismarketresearch.com/industry-analysis/electric-motors-market
𝗡𝗲𝘁-𝗭𝗲𝗿𝗼 𝗘𝗻𝗲𝗿𝗴𝘆 𝗕𝘂𝗶𝗹𝗱𝗶𝗻𝗴𝘀 𝗠𝗮𝗿𝗸𝗲𝘁: https://www.polarismarketresearch.com/industry-analysis/net-zero-energy-buildings-market
𝗔𝗶𝗿 𝗖𝗼𝗺𝗽𝗿𝗲𝘀𝘀𝗼𝗿 𝗠𝗮𝗿𝗸𝗲𝘁: https://www.polarismarketresearch.com/industry-analysis/air-compressor-market
𝗦𝗼𝗹𝗮𝗿 𝗧𝗿𝗮𝗰𝗸𝗲𝗿 𝗠𝗮𝗿𝗸𝗲𝘁: https://www.polarismarketresearch.com/industry-analysis/global-solar-tracker-market

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