Global Electric Power Steering Market, By Type (C-EPS, P-EPS and R-EPS), By Component (Steering Column, Steering Wheel, Sensors, Electronic Control Unit, Electric Motor and Bearings), By Vehicle Type (Passenger Cars, Medium & Heavy Commercial Vehicles, Light Commercial Vehicles and Off-the-Road Vehicles), By Mechanism (Collapsible EPS and Rigid EPS), By Company and By Region, Forecast & Opportunities, 2026
New York, Feb. 08, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Electric Power Steering Market, By Type, By Component, By Vehicle Type, By Mechanism, By Company and By Region, Forecast & Opportunities, 2026" - https://www.reportlinker.com/p06020642/?utm_source=GNW
The Global Electric Power Steering Market is expected to grow at a CAGR of over 6%, in value terms.The major growth drivers for the market are the growing technological advancements, increasing vehicle sales & production and measures taken by OEMs worldwide to reduce the weight of the vehicle.
Increasing number of government norms and mandates related to fuel-efficient technologies is positively impacting the growth of the market.
The Global Electric Power Steering Market can be segregated based on type, component, vehicle type and mechanism.In terms of regional analysis, APAC is projected to lead the electric power steering market during the forecast period due to growing vehicle production and highest fleet size in countries like China, India, etc.
However, the North American and European electric power steering markets are expected to grow at a steady pace during the forecast period.
The major player operating in the Global Electric Power Steering Market are Denso Corporation, Mando Corporation, Robert Bosch GMBH, Showa Corporation, JTEKT Corporation, Hyundai Mobis, NSK Ltd, Mitsubishi Corporation, Sona Koyo Steering System, Nexteer, Thyssenkrupp AG.Most of the companies are investing in R&D to develop new products along with advanced technologies to stay strong in the EPS market.
Other strategies used by the companies to increase their share in the market include mergers & acquisition and collaboration.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2026F
Objective of the Study:
• To analyse and forecast the market size of the Global Electric Power Steering Market, in terms of value and volume.
• To classify and forecast the Global Electric Power Steering Market based on type, vehicle type, component, mechanism and regional distribution.
• To identify drivers and challenges for the Global Electric Power Steering Market.
• to examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Electric Power Steering Market.
• To conduct the pricing analysis for the Global Electric Power Steering Market.
• To identify and analyse the profile of leading players involved in the manufacturing of the Global Electric Power Steering Market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the service offerings, distribution channels and presence of all major collaboration manufacturers across the globe.
The analyst calculated the market size of the Global Electric Power Steering Market by using a bottom-up approach, where the data for various end-user industries and its application across various product types were recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analysing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also used by the analyst.
Key Target Audience:
• Electric Power Steering manufacturers
• Automobile manufacturers
• Raw material suppliers
• Electric power steering design companies
• Distributors and traders
• Research organizations and consulting companies
• Research Institutes
• Industry associations
• Market research and consulting firm.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.
In this report, the Global Electric Power Steering Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Global Electric Power Steering Market, By Type:
• Global Electric Power Steering Market, By Component:
o Steering Column
o Steering Wheel
o Electronic Control Unit
o Electric Motor
o Bearings Wheat
• Global Electric Power Steering Market, By Vehicle Type:
o Passenger Car
o Medium & Heavy Commercial Vehicles
o Light Commercial Vehicles
o Off-the-Road Vehicles
• Global Electric Power Steering Market, By Mechanism:
o Collapsible EPS
o Rigid EPS
• Global Electric Power Steering Market, By Region:
o Asia Pacific
o Europe & CIS
o North America
o South America
o Middle East and Africa
Company Profiles: Detailed analysis of the major companies present in Electric Power Steering.
With the given market data, we offers customizations according the company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales channel.
Read the full report: https://www.reportlinker.com/p06020642/?utm_source=GNW
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