Global Electric Power Steering Market – Industry Analysis and Forecast (2017-2026) _ by Component (Steering Wheel, Steering Column, Sensors, and Others), by Electric Motor Type (Brushed Dc Motors and Brushless Dc Motors), by Electric Vehicle (HEV, BEV and PHEV), by Type (C-EPS, P-EPS and R-EPS), by mechanism (Collapsible EPS and Rigid EPS), by off-Highway Vehicles (Agricultural Equipment and Construction Equipment), by Application (Passenger Cars and Commercial Vehicles), and by Geography (North America, Europe, Asia Pacific, Middle East & Africa and Latin America)
Electric Power Steering Market valued USD 23.25 Billion in 2016 and expected to reach USD 42.63 Billion by 2026, at a CAGR of 6.25%.
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In recent past, the electronic power steering was used only in only high-end vehicle or sports utility vehicles (SUVs).But in recent time, the reliability of electronic power steering has increased, which in result, has boosted its involvement in almost every categories of vehicle.
Report includes assessment of market definition along with the identification of key players and analysis of their strategies, complete quantitative analysis of the industry from 2016 to 2026 to enable the stakeholders to capitalize on the prevailing market opportunities, market analysis and comprehensive segmentation with respect to the on component, electric motor type, application, electric vehicle, type, mechanism, off-highway vehicles, and geography to assist in strategic business planning.
Global measures by OEMS to reduce complexity and weight of vehicles and increasing vehicle production are trending the overall Electric Power Steering market. However, higher cost of EPS as compared to traditional steering systems is estimated to restrain the market growth.
R-EPS type sub segment is expected to witness the significant growth
Increasing installation rate of EPS in commercial vehicles, is anticipated to aid the market growth of R-EPS type segment.
APAC is expected to emerge as one of the highest growth region in the Market during forecast period
APAC is expected to register highest growth rate in the market during the forecast period. Rising per capita income of the region’s widespread consumer base has created a favourable environment for the growth will drive the market in APAC region.
Scope of the Report:
Electric Power Steering Market, By Component: Steering Wheel, Steering Column, Sensors, Steering Gear, Mechanical Rack and Pinion, Electronic Control Unit (ECU), Electric Motor and Bearings
Global Electric Power Steering Market, By Electric Motor Type: Brushed Dc Motors and Brushless Dc Motors
Global Electric Power Steering Market, By Application: Passenger
Cars and Commercial Vehicles
Global Electric Power Steering Market, By Electrical Vehicle: Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), and Plug-In Hybrid Vehicle (PHEV)
Global Electric Power Steering Market, By Type: C-EPS, P-EPS and R-EPS
Global Electric Power Steering Market, By Mechanism: Collapsible EPS and Rigid EPS
Global Electric Power Steering Market, By Off-Highway Vehicles: Agricultural Equipment and Construction Equipment
Global Electric Power Steering Market, By Geography: North America, Europe, Asia Pacific, Middle East, Africa and Latin America
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