Electric Power Steering Market: 2019 Global Share, Size, Key Players, And Regional Forecast To 2023

Electric Power Steering System Market Information by Type (Passenger Vehicle, Commercial Vehicle), by Component ( C-EPS, P- EPS, R- EPS), by Region Global Forecast to 2023.

Browse complete report: https://www.marketresearchfuture.com/reports/electric-power-steering-system-market-6263

Electric Power Steering Market Insights:

The global market for electric power steering system (EPS) is expected to register a compound annual growth rate of 6.41% between 2017 and 2023 to reach a valuation in excess of USD 28,300 Mn. EPS facilitates higher fuel efficiency and easier handling of the vehicle as compared to conventional steering systems. The automotive industry continues to be disrupted by new technological affinities where embracing electric and clean technology is the new normal. Pressure has been mounting on carmakers across the globe to adopt technological solutions that meet energy-efficiency standards. Factors as such are partly driving the adoption of EPS system. Moreover, growth of the automotive sector in fast-developing countries in Asia and Latin America is also providing an impetus to the market. The outlook towards EPS system market remains positive throughout the course of the review period. Incessant advances in the automotive technology coupled with opportunities arising from emerging markets is creating favorable conditions for market participants.

Report Overview:

This MRFR market perspective delivers a complete analysis of the opportunities of electric power steering (EPS) system and its prospects over the next five years, until 2023. All the key parameters that are currently governing the course of the market were gauged thoroughly. The research objective also includes identification of primary growth enablers and threats for the market that are likely to emerge during the assessment period. It also includes risk assessment and evaluation of untapped growth pockets. As a part of the analysis, the report also profiles two major vehicle types (passenger vehicle and commercial vehicle) with EPS system. The report also offers a revenue analysis of EPS component such as C-EPS, P-EPS, and R-EPS. The market has been assessed across five key regions, which include North America, South America, the Middle East & Africa (MEA), Asia Pacific (APAC) and Europe.

Companies Covered:

JTEKT Corporation, NSK Ltd., Nexteer Automotive, Hyundai Mobis, Robert Bosch GmbH, ThyssenKrupp AG, ZF Friedrichshafen AG, Showa Corporation and Mando Corporation, Federal-Mogul.

The report provides insights on the leading market players and evaluates their current market share. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the report.

Research Methodology:

Market Research Future (MRFR) engages its vast industry expertise for making highly accurate market observations. The extensive primary and secondary research inputs aid in making critical observation, data collection, analysis and interpretation of pertinent information to corroborate the authenticity and objectivity of the research. The primary research process consists of exclusive surveys and first-hand interviews with the executives and decision makers across the value chain such as CEOs, MDs, VPs, and others. The secondary research method is a multilayer verification process carried out to validate the primary data through inputs from SEC filings, white paper references, paid database and research publications available in public domain. The top down and bottom up approaches provide rich qualitative insight on market trends, opportunities and threats.

For More News Visit:

https://www.marketwatch.com/press-release/automotive-electric-power-steering-market-2019-global-trends-size-segments-emerging-technologies-and-industry-growth-by-forecast-to-2023-2019-03-08

https://www.reuters.com/brandfeatures/venture-capital/article?id=34110

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At Market Research Future (Mrfr), we enable our customers to unravel thec omplexity of various industries through our Cooked Research Report (Crr), Half-Cooked Research Reports (Hcrr).