Overview
Growth of car electric power steering market is carried out Firstly, customers over the world seek technically superior cars with high-end features, economical cost, and better safety options. Secondly, car makers always try to manufacture cleaner, greener cars with a lesser carbon footprint, which can be achieved by incorporating this system. Thirdly, the consumers desire more peaceful and comfortable driving experience, with a lesser driving effort that can again be achieved using electric power steering system. The car electric power steering market is basically dependent on the automobile manufacturing sector. Research and development activities by various automotive firms is one of the driving factor of the global car electric power steering market. Developments of stylish and strong steering mechanism is projected to fuel up the global car electric steering market. Moreover, increasing competition to develop electric, self-driven or auto-pilot enabled vehicles is expected to boost the global market of car electric power steering. But unavailability of cent percent reliable steering system and failure of electronics of steering are major limitations to global car electronic power steering market. By product type, the global car electric power steering market is segmented into Column Assist EPS (C-EPS), Rack Assist EPS (R-EPS), and Pinion Assist EPS (PEPS). The C-EPS segment is currently the frontrunner in the market and is anticipated to grow at the fastest rate during the assessment period. The C-EPS is the most suitable component for compact vehicles with limited space for the engine. Popularly used in light, medium and compact cars, the C-EPS component is estimated to witness high demand, driving the segment’s growth to a great extent. Rack EPS (R-EPS) is estimated also estimated to be growing segment of the car electric power steering market. Factors contributing to the growth of this segment include the rising installation rate of EPS in commercial vehicles. Rack EPS (R-EPS) is mostly used in heavy commercial vehicles. Hence, the growing
popularity of EPS in heavy commercial vehicles will activate the growth of R-EPS systems. Global car electric power steering market can be categorized into Passenger Vehicle and Commercial Vehicle. The passenger vehicle segment is anticipated to lead the global market, with a shareholding of approximately two-thirds of the market. passenger cars could rake in a handsome demand in the market with a high usage of R-EPS and P-EPS systems. Such EPS systems are expected to provide superior control over the automobile, easy integration into the gear setup, help in gear reduction, and be solid and economical. The passenger vehicle segment is also projected to garner the highest growth during the review period. Passenger vehicles are the most generic mode of transport, which is defining the market-leading position of the segment. Geographically, the global car electric power steering market is segregated into North America, Asia Pacific (APAC), the Middle East & Asia (MEA), South America, and Europe. Europe is assessed to garner the largest market share for car electric power steering. Government regulations to initiate better vehicle safety has encouraged the original equipment manufacturers (OEMs) to incorporate safety features in the latest automobile models. A high level of required quality control of the vehicle and the technology offered is also proliferating the adoption of EPS systems in Europe. With Germany spearheading the country-specific market, France, and the UK are also estimated to emerge as prominent markets in the region during the forecast period. Asia Pacific is projected to hold the second largest market share for EPS systems and is anticipated to register the highest CAGR in the global car electric power steering market. Such growth can be influenced by the presence of massive potential consumer population in the region. Further, the establishment of manufacturing units for the automobile industry in many emerging economies is also predicted to prompt market growth in Asia Pacific. Additionally, cheaper labour costs and higher economies of scale for production in the region has instigated many key players to establish manufacturing units in the APAC region. This shift of operations is likely to promote significant market growth for car electric power steering.
Major players in the car electric power steering market are Robert Bosch (Germany), Nexteer (US), ZF (Germany), NSK (Japan), Delphi (UK), GKN (UK), Federal-Mogul (US), Hyundai Mobis (South Korea), JTEKT (Japan), and Showa Corporation (Japan). These players are progressively undertaking mergers and acquisitions, and product launches to develop and present new technologies and products in the market. Employment of research and development activities to develop fuel-efficient systems by these market players is assumed to capture higher market shares.
Major players in the Market are identified through secondary research and their Market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top manufacturers; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and Marketing executives. The percentage splits, Market shares, growth rate and breakdowns of the product Markets are determined through using secondary sources and verified through the primary sources.
Inquiry about report OR ask for Sample Report @ https://www.profsharemarketresearch.com/inquiry/car-electric-power-steeringmarket-report-inquiry/ Global Car Electric Power Steering Market: Product Type Column Assist EPS (C-EPS) Rack Assist EPS (R-EPS) Pinion Assist EPS (P-EPS) Global Car Electric Power Steering Market: Application Passenger Vehicle Commercial Vehicle Global Car Electric Power Steering Market: Competitive Analysis JTEKT Bosch NSK Nexteer ZF Mobis Showa Thyssenkrupp Mando Car Electric Power Steering Market: Regional Analysis North America U.S.A Canada Europe France Germany Spain UK Rest of Europe Asia Pacific
China Japan India South East Asia
Latin America Brazil Middle East and Africa
Access Full Report @ https://www.profsharemarketresearch.com/car-electric-power-steering-market/ Car Electric Power Steering Market Report delivers comprehensive analysis of : Market Forecast for 2019-27 Market growth drivers Challenges and Opportunities Emerging and Current market trends Market player Capacity, Production, Revenue (Value) Supply (Production), Consumption, Export, Import analysis End user/application Analysis About Profshare Profshare Market Research is a full service market research company that delivers in depth market research globally. We operate within consumer and business to business markets offering both qualitative and quantitative research services. We work for private sector clients, along with public sector and voluntary organisations. Profshare Market Research publishes high quality, in-depth market research studies, to help clients obtain granular level clarity on current business trends and expected future developments. We are committed to our client’s needs, providing custom solutions best fit for strategy development and implementation to extract tangible results. For more information, visit https://www.profsharemarketresearch.com/
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