Electric Power Steering Market Growth or Demand Increase For Decrease For What Contain :
The rising demand for electric and hybrid vehicles, along with the increasing adoption of advanced driver-assistance systems (ADAS), is driving the demand for EPS systems. Additionally, the trend towards vehicle electrification and the need for reduced emissions further boost market growth.
Electric Power Steering Market CAGR Estimation :
Global Electric Power Steering Market size was valued at USD 27.37 Bn. in 2023 and the total Electric Power Steering revenue is expected to grow by 5.7 % from 2024 to 2030, reaching nearly USD 40.35 Bn.
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Electric Power Steering Market Segmentation :
by Type
Rack assist type (REPS)
Colum assist type (CEPS)
Pinion assist type (PEPS)
by Mechanism
Rigid
Collapsible
by Application
Passenger Cars (PC)
Commercial Vehicles (CV)
by Components
Steering column
Sensors
Steering gear
Mechanical rack and pinion
Electronic control unit
Electric motor
Bearing
by Electric Motor
Brush motor
Brushless motor
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Electric Power Steering Market Growth or Demand in Which regions ??
North America leads the global exoskeleton market, driven by strong healthcare infrastructure, increasing investment in robotic technologies, and a high prevalence of spinal cord injuries. Europe follows closely, supported by a focus on advanced healthcare solutions and significant government funding for research and development. The Asia-Pacific region is witnessing rapid market growth, supported by expanding industrial activities, growing aging population, and increasing healthcare expenditure.
Electric Power Steering Market Scope and Methodology :
The “Electric Power Steering Market ” report provides a comprehensive analysis of market dynamics, including growth drivers, restraints, and regional insights crucial for understanding market evolution from 2024 to 2030. The report employs a robust research methodology, integrating industry-validated data, historical trends, and reliable projections.
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Electric Power Steering Market Key Players :
1. JTEKT Corporation (Japan)
2. DENSO Corporation (Japan)
3. Mitsubishi Electric Corporation (Japan)
4. NSK Ltd. (Japan)
5. Nissan Motor Corporation (Japan)
6. Hitachi Automotive Systems (Japan)
7. Renesas Electronics (Japan)
8. ZF Friedrichshafen AG (Germany)
9. Thyssenkrupp (Germany)
10. Robert Bosch GmbH (Germany)
11. TRIDEC (Germany)
12. Infineon Technologies (Germany)
13. GKN Automotive Limited (UK)
14. Delphi Technologies (UK)
15. China Automotive Systems, Inc. (China)
16. Zhejiang Shibao Company Limited (China)
17. Hyundai Mobis (South Korea)
18. Mando Corp. (South Korea)
19. Global Steering Systems (US)
20. Tenneco (US)
21. Nexteer Automotive (US)
22. Maval Industries LLC (US)
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Key questions in the Electric Power Steering Market are :
- What is Electric Power Steering Market ?
• What is the growth rate of the Electric Power Steering Market ?
• Which are the factors expected to drive the Electric Power Steering Market market growth?
• What are the different segments of the Electric Power Steering Market ?
• What growth strategies are the players considering to increase their presence in Electric Power Steering Market ?
• What are the upcoming industry applications and trends for the Electric Power Steering Market ?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Electric Power Steering Market ?
• What major challenges could the Electric Power Steering Market face in the future?
• What segments are covered in the Electric Power Steering Market ?
• Who are the leading companies and what are their portfolios in Electric Power Steering Market ?
• What segments are covered in the Electric Power Steering Market ?
• Who are the key players in the Electric Power Steering Market ?
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