Press release
Electric Steering Market to Strengthen Its Position at Double Digit CAGR of 15% through 2022
Global Electric steering Market Information by Type (Column Assist Electric Power Steering (C-EPS)), Pinion Assist Electric Power Steering (P-EPS), Rack Assist Electric Power Steering (R-EPS), and Others), by Vehicle Type (Passenger Car and Commercial Vehicle), by Region - Forecast to 2022
Market Scenario
Electric steering is increasing replacing hydraulic steering’s in the automotive industry. Usage of electric steering will improve the fuel economy because electric steering uses around 8-10 horsepower under load. Electric powered steering uses electric motor instead and provides increased steering capabilities with less effort, as it removes hose, fluid, drive belt, pulley, and pump. Growth in the improved steering & reliability, and high fuel efficiency of electric steering over hydraulic steering systems is expected to drive the market of electric steering. The global electric steering market is expected to show a growth at CAGR of about 15% from 2016 to 2021.
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Regional Analysis of Global Electric steering Market
Asia-Pacific has emerged to be fastest growing market for electric steering market. This region has largest vehicle production due to increasing population and increasing disposable income. Increasing population, improving per capita income, and improving living standards are driving the market for automotive industries and hence expected to drive the market for electric steering.
Key Players
The key players of Global Electric steering Market report include- JTEKT Corporation, Robert Bosch Automotive Steering GmbH, ZF TRW Automotive Holdings Corp., NSK Ltd., Nexteer Automotive Group Limited, Mando Corporation, ThyssenKrupp Ag, Hyundai Mobis Co., Ltd., Showa Corporation, and China Automotive Systems Inc.
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BRIEF TOC:
1. Executive Summary
2. Research Methodology
3. Market Dynamics
4. Global Market, By Type
5. Global Market, By Technology
6. Global Market, By Vehicle Type
7. Global Market, By Region
8. Regional Market Analysis
9. Competitive Analysis
10. Conclusion
11. List Of Tables
12. List Of Figures
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LIST OF FIGURES
FIGURE 1 Global Electric Steering Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis Of Global Electric Steering Market
FIGURE 4 Value Chain Of Global Electric Steering Market
FIGURE 5 Global Electric Steering Market: By Type, 2014-2022 (USD Billion)
FIGURE 6 Global Electric Steering Market: By Vehicle Type, 2014-2022 (USD Billion)
FIGURE 7 Global Electric Steering Market: By Region, 2014-2022 (USD Billion)
FIGURE 8 Asia-Pacific Electric Steering Market: By Country, 2016 (%)
FIGURE 9 North America Electric Steering Market: By Country, 2016 (%)
FIGURE 10 Europe Electric Steering Market: By Country, 2016 (%)
FIGURE 11 ROW Electric Steering Market: By Country, 2016 (%)
FIGURE 12 Electric Steering, By Region, 2016 (%)
FIGURE 13 Electric Steering, By Key Players, 2016 (%)
FIGURE 14 Market Development Analysis, 2014-2016 (%)
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Akash Anand,
Market Research Future
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Maharashtra, India
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