Electronic Power Steering Market Size, Latest Growth, Forecast By 2024 - 2031 | Robert Bosch, Delphi, Hyundai Mobis.

The Electronic Power Steering Market is valued at a significant CAGR during the forecast period (2024-2031).

The Electronic Power Steering market report provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. With a commitment to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Leveraging a combination of qualitative and quantitative research methods, the company offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Electronic Power Steering (EPS) is a technology that replaces traditional hydraulic power steering with an electric motor-driven system. It improves fuel efficiency by eliminating the need for a hydraulic pump. EPS systems enhance vehicle handling, stability, and driver comfort by providing variable steering assistance. Advanced EPS integrates with driver-assist technologies like lane-keeping and autonomous driving. The automotive industry's shift toward electric and hybrid vehicles is accelerating EPS adoption.

Forecast Growth Projected:

The Global Electronic Power Steering Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

List of the Key Players in the Electronic Power Steering Market:

Robert Bosch, Delphi, Hyundai Mobis, GKN, Federal-Mogul, ZF Friedrichshafen, Mitsubishi Electric, TRW Automotive, Nexteer, ATS Automation Tooling Systems.

Industry Development:

❁ In 2016, the passenger car segment held the largest share of the electric power steering market. ZF Lenksysteme's Servolectric system, initially designed for optimal fuel efficiency in light commercial vehicles, expanded its presence in the high-volume LCV market. By that time, over 40 million Servolectric power steering systems had been produced, underscoring its widespread adoption and success.

Research Methodology

Our research methodology combines both qualitative and quantitative approaches to provide you with a thorough market analysis. We begin by gathering data from trusted industry reports and databases (secondary research), followed by primary research through surveys and interviews with key experts. We then apply advanced statistical tools to analyze the data, uncover trends, and assess market dynamics. Additionally, we use market segmentation and Porter's Five Forces analysis to evaluate competition. This approach ensures that the insights we provide are reliable, actionable, and tailored to support your decision-making process.

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Segment Covered in the Electronic Power Steering Market:

By Vehicle Type: Passenger Cars, Commercial Vehicles (Light Commercial Vehicles, Heavy Commercial vehicles).

By Component: Steering Column, Steering Vehicle, Sensors, Electronic Control Unit, Electric motor, and bearings.

By Steering Type: Column assisted electronic power steering(C-EPS), Pinion assisted electronic power steering (P-EPS), Rack assisted power steering system (R-EPS), Electronic hydraulic power steering.

This Report Covers:

✔ Go-to-market Strategy.

✔ Neutral perspective on the market performance.

✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, Market Access, and other significant analysis, as well as development status.

✔Customized regional/country reports as per request and country level analysis.

✔ Potential & niche segments and regions exhibiting promising growth covered.

✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

Regional Analysis for Electronic Power Steering Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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Frequently asked questions:

➠ What is the global sales value, production value, consumption value, import and export of Electronic Power Steering market?

➠ Who are the global key manufacturers of the Electronic Power Steering Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?

➠ What are the Electronic Power Steering market opportunities and threats faced by the vendors in the global Electronic Power Steering Industry?

➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?

➠ What focused approach and constraints are holding the Electronic Power Steering market?

➠ What are the different sales, marketing, and distribution channels in the global industry?

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