This Electronic Power Steering market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Electronic Power Steering market.
The automotive industry has gone through many phases of improvements in design, power and efficiency in the last few decades. The technology has brought automobiles to perform in any terrains, which were earlier meant only for smooth roads. The selection of correct steering design provides stability and maneuverability to vehicle in any terrains.
The steering mechanism is a combination of various linkages which are intended to turn vehicle in minimum radius without over turning it. Unlike conventional steering, the modern electronic power steering comprises of various electronic components which assist to reduce power and provide precision turning. The electronic power steering can improve fuel efficiency and driving experience.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Global Electronic Power Steering Market: Dynamics
The electronic power steering market is basically dependent on the automobile manufacturing sector. Also, research and development activities by various automotive firms is one of the driving factor of the global electronic steering market. Developments of sophisticated and robust steering mechanism is estimated to fuel up the global electronic steering market. Moreover, increasing competition to develop electric, self-driven or auto-pilot enabled vehicles is expected to boost the global market of power steering. Whereas, unavailability of cent percent reliable steering system and failure of electronics of steering are major restraints to global electronic power steering market.
Unlike conventional steering which have constant direct connection of links, development of electronic power steering with no direct contact of links is expected to trend in the forecast market.
Global Electronic Power Steering Market: Segmentation
The global electronic power steering (EPS) or electric power assisted steering (EPAS) market can be segmented into various categories on the basis of its type and application vehicle. On the basis of EPS type, it can be segmented as 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 (EHPS).
On the basis of type of vehicle application, the global electronic power steering can be segmented as light motor vehicles (LMV), passenger cars, heavy motor vehicles (HMV), agricultural tractors, and special utility vehicles (cranes, sports cars, earth moving, military vehicles, etc.).
The application of electronic power steering in passenger cars and LMV are expected to remain dominating due to wide production in this categories. Whereas, application in heavy motor vehicles is expected to grow substantially.
Global Electronic Power Steering Market: Region-wise Outlook
The global electronic power steering (EPS) or electric power assisted steering (EPAS) market is segmented into 5 key regions, namely North America, Latin America, Middle East & Africa, Asia-Pacific and Europe. Asia-Pacific is expected to attain high growth rate because of large production of automobiles in this region. Whereas, Europe and North America is expected to have saturated market growth rate due to mature automobile market.
Global Electronic Power Steering Market: Key Players
The major key players in global electronic power steering market includes companies like Robert Bosch Automotive Steering GmbH, Mitsubishi Electric Corporation, ZF Friedrichshafen Group, Nexteer Automotive, NSK Global, JTEKT Corporation, SHOWA Corporation, thyssenkrupp Presta AG, Mando Corporation, Hyundai Mobis, Zhuzhou Elite Electro Mechanical Co. Ltd.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Future Market Insights.
Unique Requirements? Customize this Report
- Customize by Region, Country, Application, Product, & other segments
- Integrate our Insights with your Existing Data
- Determine the scope of the study to suit your requirements
Let FMI Help You!
- Gain Insights on Key Electronic Power Steering Market Impacting Forces
- Know the Winning Strategies of Market Leaders
- Get Deep-Dive Analysis on Each Segment
- Identify the Sources that will Drive Top-Line Revenue
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Market Supply & Demand
- Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Manufacturing Technology
- Market Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg, Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand, Japan)
- Middle East and Africa (GCC, S. Africa, N. Africa)
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
Frequently Asked Questions
What research methodology is used to develop the Electronic Power Steering Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Electronic Power Steering Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Electronic Power Steering Market report?
In addition to up-to-date market figures and customized of the Electronic Power Steering Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.