Safety Concerns Triggering the Demand for Advanced Electric Power Steering Systems
The key players in this market are Robert Bosch (Germany), Delphi (UK), Mitsubishi Electric (Japan), JTEKT (Japan), Nexteer (US), ZF TRW (Germany), ThyssenKrupp (Germany), NSK (Japan), Showa (Japan), Hyundai Mobis (South Korea), GKN (UK), and Federal-Mogul (US).
The global electric power steering market is estimated to be USD 25.83 Billion in 2017 and is projected to grow to USD 42.01 Billion by 2025, at a CAGR of 6.27%. The key growth drivers for the market are the increasing number of government norms and mandates related to fuel-efficient technologies, measures taken by OEMs worldwide to reduce the weight and complexity of their vehicles, and the globally increasing vehicle production.
Download PDF Brochure @ https://bit.ly/2sA29du,
Electric power steering market, By Type-
1.Rack assist type (REPS)
2.Colum assist type (CEPS)
3.Pinion assist type (PEPS)
The Asia Pacific is estimated to lead this market during the forecast period, followed by North America and Europe. The North American and European markets are set to attain maturity as the majority of the vehicles in these regions are equipped with electric power steering system. These markets are therefore expected to grow at a steady pace during the forecast period.
The column assist EPS (CEPS), which incorporates the steering assist mechanism on the column, holds the largest share of the electric power steering market. The growth of this EPS type can be attributed to the higher production of passenger cars as compared to commercial vehicles. CEPS can support the steering function of the driver on low torques and low frontal axle loads, which is suitable for low-end and mid-range passenger cars. As these vehicle segments account for the largest share of the overall vehicle production, CEPS has the highest market share amongst all the EPS types. Original Post
The key players in this market are Robert Bosch (Germany), Delphi (UK), Mitsubishi Electric (Japan), JTEKT (Japan), Nexteer (US), ZF TRW (Germany), ThyssenKrupp (Germany), NSK (Japan), Showa (Japan), Hyundai Mobis (South Korea), GKN (UK), and Federal-Mogul (US).
The global electric power steering market is estimated to be USD 25.83 Billion in 2017 and is projected to grow to USD 42.01 Billion by 2025, at a CAGR of 6.27%. The key growth drivers for the market are the increasing number of government norms and mandates related to fuel-efficient technologies, measures taken by OEMs worldwide to reduce the weight and complexity of their vehicles, and the globally increasing vehicle production.
Download PDF Brochure @ https://bit.ly/2sA29du,
Electric power steering market, By Type-
1.Rack assist type (REPS)
2.Colum assist type (CEPS)
3.Pinion assist type (PEPS)
The Asia Pacific is estimated to lead this market during the forecast period, followed by North America and Europe. The North American and European markets are set to attain maturity as the majority of the vehicles in these regions are equipped with electric power steering system. These markets are therefore expected to grow at a steady pace during the forecast period.
The column assist EPS (CEPS), which incorporates the steering assist mechanism on the column, holds the largest share of the electric power steering market. The growth of this EPS type can be attributed to the higher production of passenger cars as compared to commercial vehicles. CEPS can support the steering function of the driver on low torques and low frontal axle loads, which is suitable for low-end and mid-range passenger cars. As these vehicle segments account for the largest share of the overall vehicle production, CEPS has the highest market share amongst all the EPS types. Original Post
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