Automotive Electronic Power Steering System is a very popular steering system, a power steering system that directly relies on the motor to provide auxiliary torque; Currently, most of the vehicle are installed the electronic power steering system, and the electronic power steering system can reduce about 5% fuel consumption.
Market Analysis and Insights: Global Automotive Electric Power Steering (EPS) Market
Due to the COVID-19 pandemic, the global Automotive Electric Power Steering (EPS) market size is estimated to be worth US$ 22730 million in 2023 and is forecast to a readjusted size of US$ 26820 million by 2030 with a CAGR of 2.8% during the forecast period 2023-2030. Fully considering the economic change by this health crisis, C-EPS accounting for % of the Automotive Electric Power Steering (EPS) global market in 2022, is projected to value US$ million by 2030, growing at a revised % CAGR from 2023 to 2030. While Passenger Vehicle segment is altered to an % CAGR throughout this forecast period.
NSK Ltd, a Japanese Company has designed the world?s lightest column type Electric Power Steering (EPS), which will contribute to increased fuel efficiency in automobiles.
Global Automotive Electric Power Steering (EPS) Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market?s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2030. This section mentions the volume of production by region from 2017 to 2030. Pricing analysis is included in the report according to each type from the year 2017 to 2030, manufacturer from 2017 to 2023, region from 2017 to 2023, and global price from 2017 to 2030.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert?s opinions have been taken to understand the market better.
Global Automotive Electric Power Steering (EPS) Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2030. by Application segment also provides consumption during the forecast period of 2017 to 2030. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
C-EPS
P-EPS
R-EPS
Segment by Application
Passenger Vehicle
Commercial Vehicle
By Company
JTEKT
Bosch
NSK
Nexteer
ZF
Mobis
Showa
Thyssenkrupp
Mando
Production by Region
North America
Europe
China
Japan
South Korea
India
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
