Automotive Electric Power Steering (EPS) Market is Expected to Grow at High CAGR During 2019 to 2027

The report aims to provide a 360-degree view of the market in terms of cutting-edge technology, key developments, drivers, restraints and future trends with impact analysis of these trends on the market for short-term, mid-term and long-term during the forecast period. Further, the report also covers key players profiling with detailed SWOT analysis, financial facts and key developments of products/service from the past three years.

The demand for electric power steering in the automotive industry is on the rise due to improved fuel efficiency in vehicles and lower mechanical complexity. The increasing production of passenger and commercial vehicles along with demand for advanced safety and convenience are contributing towards a healthy growth of the automotive electric power steering market. Major market manufacturers are adopting various strategies, including technological innovations and mergers and acquisitions for their growth.

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The automotive electric power steering market is anticipated to grow in the forecast period owing to driving factors such as initiatives by manufacturers to reduce weight and vehicle complexity. Also, regulatory concerns encouraging the use of efficient technology are expected to propel the market growth. However, these systems are costlier than traditional steering systems. This factor may negatively influence the growth of the automotive electric power steering market during the forecast period. However, increasing adoption in commercial vehicles is likely to showcase significant growth opportunities for the players operating in the automotive electric power steering market in the future.

Top Dominating Key Players:

  1. GKN Automotive Limited
  2. Hitachi Automotive Systems, Ltd.
  3. Hyundai Mobis Co., Ltd.
  4. JTEKT Corporation
  5. Mitsubishi Electric Corporation
  6. Nexteer Automotive Corporation
  7. NSK Ltd.
  8. Robert Bosch GmbH
  9. Showa Corporation
  10. ZF Friedrichshafen AG

The global automotive electric power steering market is segmented on the basis of component and vehicle type. Based on component, the market is segmented as steering column, steering motor, sensor, and others. On the basis of the vehicle type, the market is segmented as passenger cars, light commercial vehicles, and heavy commercial vehicles.

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global automotive electric power steering market based on various segments. It also provides market size and forecast estimates from the year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The automotive electric power steering market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting automotive electric power steering market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the automotive electric power steering market in these regions.

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Reasons to Buy the Report:

  • Learn about the driving factors, affecting the market growth.
  • Imbibe the advancements and progress in the market during the forecast period.
  • Understand where the market opportunities lies.
  • Compare and evaluate various options affecting the market.
  • Pick up on the leading market players within the market.
  • Envision the restrictions and restrains that are likely to hamper the market.

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Posted by on Wednesday December 04 2019, 3:00 PM EST. All trademarks acknowledged. Filed under Business Services, Featured Press Release, Technology, Media, & Telecommunications. Comments and Trackbacks are open. Follow responses: RSS 2.0

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