Press release
Electric Power Steering Market Size, Share, Opportunities & Forecast 2027
The Electric Power Steering Market is projected to grow at a CAGR of 5.4% from 2021 to 2027, to reach a market size of USD 33.4 billion by 2027 from USD 24.3 billion in 2021. The major factors driving the growth of the electric power steering market are stringent automotive safety and security norms introduced by the government, rising preference of vehicle electrification among OEMs and Tier I suppliers, increasing demand from OEMs for reduced weight and complexity of vehicles, and rising vehicle production.Request Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=58413446
Column assist EPS (CEPS) holds the largest market share in 2021
The column assist EPS (CEPS), which incorporates the steering assist mechanism on the column, is estimated to hold the largest share of the electric power steering market in 2021. 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.
Collapsible steering column- The largest share of electric power steering market in 2021
The collapsible steering column is estimated to hold the largest share of the electric power steering market in 2021. It is a mechanism of an upper column and a lower shaft in which the lower shaft enters into a housing in the event of an accident. This column is installed in passenger cars and light commercial vehicles. The growing production of passenger cars and light commercial vehicles, as well as increasing government mandates on road safety, are the primary factors driving the growth of collapsible steering columns in EPS systems.
Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=58413446
Asia Pacific: Rapid vehicle electrification in China is propelling the growth of Asia Pacific market
The growth of the electric power steering market in the Asia Pacific region is expected to be driven by growing vehicle production, government regulations about vehicle emissions, rapid vehicle electrification, fuel efficiency demand, and growing disposable incomes. The governments in the Asia Pacific region are taking several initiatives to improve vehicle safety and are thus compelling OEMs to increasingly integrate safety features with the EPS system.
Key Market Players
The report profiles the most promising players in the electric power steering market. The market presents an interesting picture of a large number of big and small players that have become a force to reckon. The key players in this market are Robert Bosch (Germany), Mitsubishi Electric (Japan), JTEKT (Japan), Nexteer (US), ZF (Germany), ThyssenKrupp (Germany), NSK (Japan), Hyundai Mobis (South Korea), GKN (UK), and Federal-Mogul (US).
View Detail TOC: https://www.marketsandmarkets.com/Market-Reports/electric-power-steering-market-58413446.html
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: newsletter@marketsandmarkets.com
Phone: 18886006441
Address: 630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Electric Power Steering Market Size, Share, Opportunities & Forecast 2027 here
News-ID: 2855432 • Views: …
More Releases from MarketsandMarkets™ Research Private Ltd
![Rolling Stock Market worth $65.6 billion by 2028, at a CAGR of 3.8%](https://cdn.open-pr.com/L/8/L808413921_g.jpg)
Rolling Stock Market worth $65.6 billion by 2028, at a CAGR of 3.8%
The global rolling stock market, by value, is estimated to be 54.6 USD billion in 2023 and is projected to reach 65.6 USD billion by 2028, at a CAGR of 3.8% from 2023 to 2028.
The market for rolling stock is expected to rise as a result of reasons including, the adoption of emissions-free transportation, and advantageous government policies including subsidies, rise in railway electrification.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=4380892
Smart transportation…
![Automotive Telematics Market Size worth USD 16.1 billion by 2030, at a CAGR of 10.1%](https://cdn.open-pr.com/L/8/L806676181_g.jpg)
Automotive Telematics Market Size worth USD 16.1 billion by 2030, at a CAGR of 1 …
The Automotive Telematics Market is projected to grow from an estimated USD 9.0 billion in 2024 to reach USD 16.1 billion by 2030 at a CAGR of 10.1% during the forecast period.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=245073008
Automotive manufacturers are highly focused on collaborating with telematic suppliers to integrate their services into their new models to increase drivers' and on-road safety. Several automakers offer e-SIM card facilities in their top-end variants,…
![Fire Truck Market Size worth USD 9.6 billion by 2030, at a CAGR of 2.7%](https://cdn.open-pr.com/L/8/L802134732_g.jpg)
Fire Truck Market Size worth USD 9.6 billion by 2030, at a CAGR of 2.7%
The global fire truck market is estimated to grow from USD 8.1 billion in 2024 to USD 9.6 billion by 2030, at a CAGR of 2.7%.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=69483030
Rapid urbanization, infrastructural development, safety regulations for fire safety, technological improvements, and increase in government spending are projected to be the driving force for a fire truck market. There was a huge demand for the modernization and expansion of capacities…
![Electric Commercial Vehicle Market Size worth USD 255.6 billion by 2030, at a CAGR of 23.8%](https://cdn.open-pr.com/L/7/L724253352_g.jpg)
Electric Commercial Vehicle Market Size worth USD 255.6 billion by 2030, at a CA …
The global Electric Commercial Vehicle market is projected to grow from USD 70.9 billion in 2024 to USD 255.6 billion by 2030, registering a CAGR of 23.8%.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=16430819
ECVs aim to provide a cleaner and more sustainable alternative to traditional fossil fuel-powered commercial vehicles, thereby reducing greenhouse gas emissions, air pollution, and reliance on finite fossil fuel resources. ECVs serve to lower the overall operational costs for…
More Releases for EPS
Single-Pinion EPS & Dual-Pinion EPS Market Trends and Forecast Report 2022 | By …
The QY Research released a latest market research report on the global and United States Single-Pinion EPS & Dual-Pinion EPS market, which is segmented by region (country), players, by Type and by Application. Players, stakeholders, and other participants in the global Single-Pinion EPS & Dual-Pinion EPS market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast…
Electronic Power Steering (EPS) Market Forecast to 2027 - COVID-19 Impact and Gl …
In terms of revenue, the global electronic power steering market was valued at US$ 52.6 billion in 2019 and is projected to reach US$ 54.9 billion by 2027; it is expected to grow at a CAGR of 3.6% during the forecast period from 2020 to 2027.
Download PDF Sample Copy @ www.theinsightpartners.com/sample/TIPTE100000331/?utm_source=openpr&utm_medium=10387
Major Players in the market are: Hyundai Mobis, JTEKT Corporation, Mitsubishi Electric Corporation, Nexteer Automotive, NSK Ltd., Robert Bosch GmbH,…
Light Commercial Vehicle EPS Market Forecast to 2028 - Covid-19 Impact and Globa …
Electric Power Steering (EPS) is the latest technology in the field of Automobile industry. Compared to the traditional steering system, EPS enhance the driving experience for car drivers and also increases the fuel efficiency. Many car manufacturing companies are offering EPS technology in their cars.
Download PDF Sample Copy @ www.theinsightpartners.com/sample/TIPTE100000676/?utm_source=OpenPR&utm_medium=10387
Major Players in the market are: JTEKT Corporation., Robert Bosch GmbH, NSK Ltd., ZF Friedrichshafen AG, Nexteer Automotive, Hyundai Mobis Co.,…
Global Power Assisted Steering PAS Market By Type (C-EPS, P-EPS, R-EPS) By Appli …
The Global Power Assisted Steering PAS Market 2020 report implement in-depth research of the industry with a focus on the current market trends future prospects. The Global Power Assisted Steering PAS Market report aims to provide an overview of Power Assisted Steering PAS Market players with detailed market segmentation by product, application and geographical region. It also provides market share and size, revenue forecast, growth opportunity. The most recent trending…
Automotive Electric Power Steering Systems Market Report 2018: Segmentation by P …
Global Automotive Electric Power Steering Systems market research report provides company profile for Nexteer, ZF, Mobis, Showa, Thyssenkrupp, Mando, JTEKT, Bosch, NSK and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The report also…
Global EPS Geofoams Market 2018 - Atlas EPS, Expol, FMI-EPS, VersaTech
The statistical surveying information incorporated into the EPS Geofoams report is the aftereffect of significant essential and optional research exercises. The report fragments the worldwide market for EPS Geofoams based on makers, item compose, applications, and Region. In this report, each fragment is contemplated completely and measurements are introduced in detail. The report offers an exact outline of the worldwide EPS Geofoams advertise covering key factors, for example, drivers and…