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Automotive Electronic Power Steering System is a very popular steering system, a power steering system that directly relies on the motor to provide auxiliary torque; Currently, most of the vehicle are installed the electronic power steering system, and the electronic power steering system can reduce about 5% fuel consumption.
Market Analysis and Insights: Global Automotive Electric Power Steering Systems Market
Due to the COVID-19 pandemic, the global Automotive Electric Power Steering Systems market size is estimated to be worth US$ 31360 million in 2022 and is forecast to a readjusted size of US$ 51160 million by 2028 with a CAGR of 8.5% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, C-EPS accounting for % of the Automotive Electric Power Steering Systems global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Passenger Vehicle segment is altered to an % CAGR throughout this forecast period.
JTEKT, Bosch, NSK, Nexteer and ZF are the top 5 manufacturters of Automotive Electric Power Steering Systems, with about 83% market shares.
Global Automotive Electric Power Steering Systems Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Automotive Electric Power Steering Systems Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
C-EPS
P-EPS
R-EPS
Segment by Application
Passenger Vehicle
Commercial Vehicle
By Company
JTEKT
Bosch
NSK
Nexteer
ZF
Mobis
Showa
Thyssenkrupp
Mando
Production by Region
North America
Europe
China
Japan
South Korea
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
Market Analysis and Insights: Global Automotive Electric Power Steering Systems Market
Due to the COVID-19 pandemic, the global Automotive Electric Power Steering Systems market size is estimated to be worth US$ 31360 million in 2022 and is forecast to a readjusted size of US$ 51160 million by 2028 with a CAGR of 8.5% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, C-EPS accounting for % of the Automotive Electric Power Steering Systems global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Passenger Vehicle segment is altered to an % CAGR throughout this forecast period.
JTEKT, Bosch, NSK, Nexteer and ZF are the top 5 manufacturters of Automotive Electric Power Steering Systems, with about 83% market shares.
Global Automotive Electric Power Steering Systems Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Automotive Electric Power Steering Systems Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
C-EPS
P-EPS
R-EPS
Segment by Application
Passenger Vehicle
Commercial Vehicle
By Company
JTEKT
Bosch
NSK
Nexteer
ZF
Mobis
Showa
Thyssenkrupp
Mando
Production by Region
North America
Europe
China
Japan
South Korea
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
