Press release
Market Driver Insights: The Impact of Recent Advances on the Electric Power Steering Market
Electric Power Steering Market
Electric Power Steering Market Size and Growth Outlook by 2030
The electric power steering market is projected to reach a valuation of $42.29 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.9%. This impressive growth trajectory is propelled by several key factors, such as the development of steer-by-wire technology, increased uptake of electric vehicles, incorporation of autonomous driving systems, rising demand for energy-efficient steering components, and the shift toward software-defined steering mechanisms. Prominent trends shaping this market include a transition from traditional hydraulic steering to electric steering systems, the integration of cutting-edge steering sensors, a preference for brushless motors, the pursuit of lightweight steering assemblies, and expanded application in compact vehicle segments.
Download a free sample of the electric power steering market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8746&type=smp&utm_source=OpenPR&utm_medium=Paid&utm_campaign=Jul_PR
Prominent Companies Leading the Electric Power Steering Market
The electric power steering sector is dominated by several notable players including Robert Bosch GmbH, JTEKT Corporation, Nexteer Automotive Group Limited, ZF Friedrichshafen AG, NSK Steering Systems Pvt. Ltd., Mando Corporation, Hyundai Mobis Co Ltd., Showa Corporation, Hitachi Astemo Ltd., Denso Corporation, China Automotive System, KYB Corporation, Thyssenkrupp AG, Delphi Technologies, Tenneco Inc., GKN Driveline Service GmbH, Zhejiang Shibao Company Limited, Jilin Dongfeng Power Co. Ltd., Chongqing Jianshe Automobile Electric Co. Ltd., Hella GmbH & Co. KGaA, Valeo Group, Magna International Inc., Huayu Automotive Systems Co. Ltd., and Jiangsu Dajiang Automotive Electric Motor Co. Ltd.
Strategic Acquisition Expanding ZF Friedrichshafen AG's Market Presence
In March 2024, ZF Friedrichshafen AG, a leading automotive firm based in Germany, secured a majority stake in India's Rane Steering Systems Private Limited through an undisclosed deal. This acquisition aims to broaden ZF's footprint in the Indian market by enhancing its electric steering and chassis offerings for both passenger and commercial vehicles. It will accelerate the development and localization of innovative steering technologies, strengthening the company's position in a rapidly growing region. Rane Steering Systems Private Limited specializes in manufacturing steering components, including electric power steering columns, making it a strategic partner for ZF's expansion efforts.
View the full electric power steering market report:
https://www.thebusinessresearchcompany.com/report/electric-power-steering-global-market-report?utm_source=OpenPR&utm_medium=Paid&utm_campaign=Jul_PR
Emerging Innovations Shaping the Electric Power Steering Market Globally
Top manufacturers in the electric power steering industry are increasingly focusing on the creation of advanced motor power packs tailored to expand their market reach and revenue streams. One such innovation is the Column-Type Electric Power Steering Motor Power Pack (EPS-PP), which is designed to provide smooth steering performance while minimizing friction and torque ripple-key factors for Advanced Driver Assistance Systems (ADAS). For instance, in June 2023, Japan-based Nidec Corporation introduced a column-type EPS unit that matches the smoothness of rack-type steering systems, while addressing cost efficiency. Nidec's EPS-PP technology can detect and correct motor and steering unit friction in real-time, eliminating artificial steering sensations. This advancement not only enhances performance but also reduces material costs by substituting traditional electromagnetic steel sheets with more affordable alternatives to reduce friction-related torque losses.
Segment Breakdown of the Electric Power Steering Market
This report divides the electric power steering market into multiple segments for detailed analysis:
1) By Type: Rack Electric Power Steering (R-EPS), Column Electric Power Steering (P-EPS), Combo Electric Power Steering (C-EPS)
2) By Components: Steering Column, Sensors, Steering Gear, Mechanical Rack and Pinion, Electronic Control Unit, Electric Motor
3) By Electric Motor Type: Brush Motors and Brushless Motors
4) By Application: Passenger Cars (PC) and Commercial Vehicles (CV)
Further subcategories include:
- For R-EPS: Integrated R-EPS Systems and Standalone R-EPS Systems
- For P-EPS: Electric Column Assist Systems and Electric Power-Assisted Column Systems
- For C-EPS: Hybrid Systems and Advanced Control Systems
This detailed segmentation provides a comprehensive view of the market, highlighting opportunities across various technologies, components, and vehicle types.
Reach out to us:
The Business Research Company: https://www.thebusinessresearchcompany.com/,
Americas +1 310-496-7795,
Europe +44 7882 955267,
Asia & Others +44 7882 955267 & +91 8897263534,
Email us at info@tbrc.info.
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
With over 17500+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Market Driver Insights: The Impact of Recent Advances on the Electric Power Steering Market here
News-ID: 4581135 • Views: …
More Releases from The Business Research Company
Competitive Landscape: Key Market Leaders and New Entrants in the Fluoropolymer …
The fluoropolymer coating sector is on track for consistent expansion in the coming years, driven by innovations and increasing industrial demands. As industries push for more durable, sustainable, and high-performance coatings, this market is positioned to see significant developments by 2030. Here's an overview of the market's expected growth, the prominent companies in the space, key trends shaping its future, and the main segments driving its expansion.
Forecast of Fluoropolymer Coating…
Emerging Growth Trends Driving Expansion in the Flex Fuel Vehicle Market
The flex fuel vehicle market is gaining momentum as the automotive industry shifts toward more sustainable and flexible fuel options. With growing environmental concerns and evolving fuel regulations, this sector is set to experience meaningful expansion over the coming years. Below is an in-depth look at the market size, key players, trends, and segmentation that define the flex fuel vehicle landscape.
Anticipated Market Size and Growth of the Flex Fuel Vehicle…
Future Perspectives: Key Trends Shaping the Fleet Charging Market up to 2030
The fleet charging market is on the verge of significant expansion as the shift toward electric vehicle fleets accelerates globally. Driven by policy mandates and technological advancements, this sector is preparing for robust growth through 2030. Below, we explore the market's size projections, leading companies, emerging trends, and segmentation to provide a comprehensive understanding of this fast-evolving industry.
Projected Growth and Market Size for Fleet Charging Through 2030
The fleet charging…
Structure of the Express Delivery Market, Key Emerging Trends, and Insights on T …
The express delivery sector is rapidly evolving, driven by innovative technologies and changing consumer demands. As global commerce accelerates and expectations for faster shipments grow, this market is positioned for remarkable expansion in the coming years. Let's explore its current valuation, key players, emerging trends, and the main segments shaping the express delivery landscape.
Projected Market Value and Growth of the Express Delivery Market
The express delivery market is set to…
More Releases for Electric
Electrical Isolators Market 2023: Mitsubishi Electric, Orient Electric, Schneide …
The Electrical Isolators Market size (volume and value) and industry chain structure published by The Insight Partners through its high quality database which is a valuable source of guidance and direction for companies and individual interested in the industry.
An electrical isolator is a material in which electric current does not flow freely. The atoms of the insulator have tightly bound electrons which cannot readily move. Other materials, semiconductors and conductors…
Electric Motors for Electric Vehicle Market by Manufacturers: Hitachi Automotive …
Electric Motors for Electric Vehicle Market research report analyzes and studies the Electric Motors for Electric Vehicle Market's production, value, financial status, and capacity. It also provides information about market share and development plans during the projected period. Moreover, the Electric Motors for Electric Vehicle Market research report provides data about key manufacturers and focuses on the market competition landscape by analyzing the market by application, product type, and region.
Click…
Thermal Overload Relay Market 2021 Precise Outlook - ABB, Schneider Electric, Ea …
Global Thermal Overload Relay Market Size, Status and Forecast 2021
The Global Thermal Overload Relay Market report offers in-depth information and comprehensive analysis of the market. It provides a complete overview of the market with detailed insights on key aspects including the current market situation, potential size, volume, and dynamics of the market. This research report makes a thorough assessment of the COVID-19 pandemic and its impact on the current market…
Global Electric Motors for Electric Vehicles Market 2025 | MAHLE GmbH, Protean E …
Researchmoz added Most up-to-date research on "Global Electric Motors for Electric Vehicles Market Insights, Forecast to 2025" to its huge collection of research reports.
This report presents the worldwide Electric Motors for Electric Vehicles market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities…
Yokogawa Electric, General Electric Profiled in Smart Factory Solutions Market 2 …
Global Smart Factory Solutions Market which focuses on effective strategies of the business framework. It highlights the recent market trends stringent energy regulations and growing pressure to conform to energy efficiency. The research methods and tools used to analyze the studies are both primary and secondary research.
This market research report on analyzes the growth prospects for the key vendors operating in this market space including Siemens, ABB, Honeywell International, Yokogawa…
Global Quartz Heat Lamps Market 2017 : Indu Electric Gerber, Schneider Electric, …
The Market Research Store report offers majority of the latest and newest industry data that covers the overall market situation along with future prospects for Quartz Heat Lamps market around the globe. The research study includes significant data and also forecasts of the global market which makes the research report a helpful resource for marketing people, analysts, industry executives, consultants, sales and product managers, and other people who are in…
