Press release
Electric Empowerment : Analyzing the Automotive Electric Power Steering Market Forecast, 2023-2032
According to a new report published by Allied Market Research, titled, "Automotive Electric Power Steering Market," ๐๐ก๐ ๐ ๐ฅ๐จ๐๐๐ฅ ๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐ฅ๐๐๐ญ๐ซ๐ข๐ ๐ฉ๐จ๐ฐ๐๐ซ ๐ฌ๐ญ๐๐๐ซ๐ข๐ง๐ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ฌ๐ข๐ณ๐ ๐ฐ๐๐ฌ ๐ฏ๐๐ฅ๐ฎ๐๐ ๐๐ญ $๐๐ ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐ข๐ง ๐๐๐๐, ๐๐ง๐ ๐ข๐ฌ ๐ฉ๐ซ๐จ๐ฃ๐๐๐ญ๐๐ ๐ญ๐จ ๐ซ๐๐๐๐ก $๐๐ ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐๐ฒ ๐๐๐๐, ๐ ๐ซ๐จ๐ฐ๐ข๐ง๐ ๐๐ญ ๐ ๐๐๐๐ ๐จ๐ ๐.๐% ๐๐ซ๐จ๐ฆ ๐๐๐๐ ๐ญ๐จ ๐๐๐๐.๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ : https://www.alliedmarketresearch.com/request-sample/7601
The growth of the automotive electric power steering market is driven by advancements in compact and cost-effective motor controller units. These advancements offer several benefits that contribute to the increased adoption of EPS technology. As vehicles become more compact and manufacturers aim to maximize interior space, it is crucial to install EPS components without compromising other functionalities. The development of compact motor control units allows efficient packaging and integration of EPS systems, making them more accessible for various vehicle models.
Moreover, manufacturers focus on miniaturizing the motor control unit by utilizing advanced electronic components and integrated circuitry. For instance, in September 2020, DENSO Corporation announced the development of a new Electric Power Steering Motor Control Unit (EPS-MCU) that enhances vehicle handling and safety. The EPS-MCU has been incorporated into the TOYOTA NEW HARRIER, released in June 2020, and is expected to be used in vehicles from various automakers. The ECU achieves a 10% reduction in size and cost compared to its predecessor, DENSO Dual Assist 1st Generation (DDA1). The availability of cost-effective motor controller units lowers the overall expenses associated with producing EPS technology. This cost reduction makes EPS systems more economically viable for automakers, enabling them to incorporate EPS technology into a broader range of vehicle models. Therefore, the rise in the development of compact and cost-effective motor control units for EPS drives the growth of the market.
In addition, the government of various countries is increasingly implementing regulations and standards that promote the adoption of electric power steering. They set fuel efficiency targets or emissions regulations that encourage automakers to incorporate electric power steering as a means to improve vehicle efficiency and reduce environmental impact.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ : https://www.alliedmarketresearch.com/automotive-electric-power-steering-market/purchase-options
On the basis of type, the global automotive electric power steering industry is segmented into column electric power steering, rack electric power steering, and pinion electric power steering. The column electric power steering is an electric power steering system utilized in vehicles where the electric motor and associated components are integrated directly within the steering column. This configuration enables the motor to provide power assistance to the steering wheel, transmitting torque to the steering mechanism and facilitating wheel movement.
A rise in demand has been witnessed for column electric power steering systems as it eliminates the need for additional space-consuming components, resulting in a more compact and efficient system. Moreover, manufacturers aim to develop products to offer flexible solutions for various vehicle platforms, accommodating different vehicle sizes and specifications. For instance, in October 2021, Nexteer Automotive, an automotive technology company developed a modular C-EPS system to address the evolving needs of the automotive industry. The system integrates the electric power steering motor and other components into the steering column, providing precise and efficient steering assistance. Therefore, the introduction of modular Column Assist Electric Power Steering (C-EPS) systems is expected to drive a continuous push for technological advancements in the field of electric power steering. These advancements can stimulate competition and accelerate the growth of the market segment.
๐๐๐ ๐ ๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐ :
By type, the pinion electric power steering segment is anticipated to exhibit significant growth in the near future.
By vehicle type, the commercial vehicles segment is anticipated to exhibit significant growth in the near future.
By propulsion type, the electric segment is anticipated to exhibit significant growth in the near future.
By component, the electric control unit segment is anticipated to exhibit significant growth in the near future.
By region, Europe is anticipated to register the highest CAGR during the forecast period.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/7601
๐๐๐๐๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
Robert Bosch GmbH
Zhejiang Shibao Co., Ltd.
BBB Industries
Nexteer Automotive
HL Mando Corp.
Hitachi, Ltd.
NSK Ltd.
JTEKT Corporation
ThyssenKrupp AG
ZF Friedrichshafen AG
๐๐๐๐ ๐๐จ๐ซ๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ :
Automotive Traction Inverters Market : https://www.prnewswire.com/news-releases/automotive-traction-inverter-market-to-reach-46-3-billion-globally-by-2032-at-16-4-cagr-allied-market-research-301888425.html
Automotive Paints Market : https://www.globenewswire.com/en/news-release/2023/03/24/2634084/0/en/Automotive-Paints-Market-Size-to-Reach-29-7-Billion-by-2031-Allied-Market-Research.html
Automotive LED Lighting Market : https://www.globenewswire.com/en/news-release/2023/07/25/2710190/0/en/Automotive-LED-Lighting-Market-to-Generate-32-2-Billion-by-2031-Allied-Market-Research.html
๐๐จ๐ง๐ญ๐๐๐ญ :
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
USA/Canada (Toll Free):
+1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
About Us :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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 Empowerment : Analyzing the Automotive Electric Power Steering Market Forecast, 2023-2032 here
News-ID: 3336692 • Views: โฆ
More Releases from Allied Market Research
![Wi-Fi as a Service Market Future Scenarios to Reach $12.21 Billion by 2027 | At a CAGR of 17.6%](https://cdn.open-pr.com/L/8/L816418686_g.jpg)
Wi-Fi as a Service Market Future Scenarios to Reach $12.21 Billion by 2027 | At โฆ
According to a recent report published by Allied Market Research, the global Wi-Fi as a service market was valued at $3.36 billion in 2019, and is projected to reach $12.21 billion by 2027, growing at a CAGR of 17.6% from 2020 to 2027.
Wi-Fi as a service (WaaS) is majorly used to manage the Wi-Fi operations and it generally comprises WLAN configuration, network implementation, hardware & software management, and networkโฆ
![Location Analytics Market Expected to Reach $31.13 Billion by 2027 | Top Players, Application and Forecast to 2032](https://cdn.open-pr.com/L/8/L816169046_g.jpg)
Location Analytics Market Expected to Reach $31.13 Billion by 2027 | Top Players โฆ
According to a recent report published by Allied Market Research, The global location analytics market size was valued at $10.29 billion in 2019, and is projected to reach $31.13 billion by 2027, registering a CAGR of 15.5% from 2020 to 2027.
The growth of the global location analytics market is mainly driven by the proliferation of smartphones and upsurge in usage of GPS-enabled devices. In addition to this, factors such asโฆ
![Cloud Orchestration Market to generate $105.07 billion by 2030, with a CAGR of 21.4%](https://cdn.open-pr.com/L/8/L816832817_g.jpg)
Cloud Orchestration Market to generate $105.07 billion by 2030, with a CAGR of 2 โฆ
The cloud orchestration market size was valued at $14.98 billion in 2020, and is projected to reach $105.07 billion by 2030, registering a CAGR of 21.4%.
Asia-Pacific is expected to observe highest growth rate during the forecast period, due to the proliferation of connected systems fueled by ongoing trend of smart offices and homes in the region coupled with the government-driven infrastructural projects. The data generated by edge devices in differentโฆ
![Sports Tourism Market is Probable to Influence the Value of $1,803,704.0 million by 2030, Size, Share, Trends and Growth](https://cdn.open-pr.com/L/8/L816917093_g.jpg)
Sports Tourism Market is Probable to Influence the Value of $1,803,704.0 million โฆ
The global sports tourism market size was valued at $323,420.0 million in 2020, and is projected to reach $1,803,704.0 million by 2030, registering a CAGR of 16.1% from 2021 to 2030
Get Sample PDF Of This Report: https://www.alliedmarketresearch.com/request-sample/13441
Sports tourism is defined as travel that includes either observing or participating in a sporting event while away from the tourists' usual surroundings. Traveling from one region, country, or state toโฆ
More Releases for Automotive
KSA Automotive Market | KSA Automotive Industry | KSA Automotive Industry Resear โฆ
Saudi Arabiaโs automotive market faced a decline in new car sales due to tripling of value-added tax (VAT) rates. Effective in July 1, 2020, Saudi Arabia hiked its VAT from 5% to 15%.
Vision 2030 trying to attract foreign investment to kick start Dammam manufacturing city to aid re-exports & fulfill domestic demand
Surge in Domestic Manufacturing to gain independence of Imports: With Vision 2030, KSA is trying to gain impendence ofโฆ
Automotive Fuel Injectors Market: Growing Automotive Sales Fueling Automotive Fu โฆ
Automotive fuel injectors marketย is likely to grow at a steady pace in the long run, according to a new report by Fact.MR. The demand for automotive fuel injectors continues to remain influenced with a multitude of industry-specific and macroeconomic factors. Significant growth in the automotive sector, coupled with increasing vehicle fleet remain instrumental in driving the demand for automotive fuel injectors worldwide. Fact.MR estimates that theย salesย of automotive fuel injectors areย expectedโฆ
Automotive Gearbox Market,Automotive Gearbox Industry, Global Automotive Gearbox โฆ
Latest industry research report on: Global Automotive Gearbox Market : Industry Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth, Segmentation, Parameters, Forecasts
This industry study presents the global Automotive Gearbox market size, historical breakdown data (2013-2018) and forecast (2018-2025). The Automotive Gearbox production, revenue and market share by manufacturers, key regions and type;
The consumption of Automotive Gearbox in volume terms are also provided for major countries (or regions), and for eachโฆ
Automotive Windscreen Sales Market โ Analysis of Automotive Windscreen Sales G โฆ
Automotive Windscreen Market report provides an in detail study of Manufactures in the market which is based on the various objectives associated with an organization such as Analysis, Market Share, Regional Market Performance, Product Specification, and the Company Introduction.
The latest market intelligence study on Automotive Windscreen Sales market relies on statistics derived from the application of both primary and secondary research to present insights pertaining to the operational model, opportunitiesโฆ
Global Automotive Windshield Pumps Market 2018- SHW AG, TRW Automotive, Delphi A โฆ
Apex Market Reports, recently published a detailed market research study focused on the "Global Automotive Windshield Pumps Market" across the global, regional and country level. The report provides 360ยฐ analysis of "Global Automotive Windshield Pumps Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the Global Automotive Windshield Pumps industry, and estimates the futureโฆ
Automotive Steering System Market Players: Mitsubishi Electric, TRW Automotive H โฆ
Automotive steering system market is expected to grow with the CAGR of about 6% from 2016 to 2022. Due to increasing demand for the driving comfort & fuel efficient vehicle as well as increasing vehicle production globally will drive the Automotive steering system market.
Market Scenario
Steering is the connection point between car and driver. It provides control and the feel of the road and plays a key role in the vehicleโsโฆ