Automotive Electric Power Steering Market Scenario, Leading Players, Segments Analysis and Growth by Forecast To 2023

Global Automotive Electric Power Steering Market Estimated to grow at 6% CAGR between 2017 and 2023 due to demand for technically superior automobiles

Automotive electric power steering is more efficient than the traditional engine driven pumps. Market Research Future (MRFR) has published a research report about the global automotive electric power steering market that estimates increase at 6% CAGR (Compound Annual Growth Rate) for this market with a high rate between 2017 and 2023.

A pivotal factor driving the growth of the global automotive electric power steering market is the growing demand for the technically superior automobiles with high-end features, better safety options, and economic cost. The second most important factor is attempts by automobile makers to try manufacturing eco-friendly cars with a lesser carbon footprint via automotive electric power steering system. The third factor supporting market growth is the demand for comfortable and user-friendly cars.

Get Sample Report of Automotive Electric Power Steering Market @ https://www.marketresearchfuture.com/sample_request/5743

Key Players

The key players in the global automotive electric power steering market include Delphi Automotive (UK), Federal-Mogul (USA), Hitachi Automotive Systems Ltd. (USA), Hyundai Mobis (South Korea), JTEKT Corporation (Japan), KSR International Company (Canada), Mando Corporation (South Korea), Mitsubishi Electric Corporation (Japan), Nexteer Automotive (USA), NSK Ltd. (Japan), Robert Bosch GmbH (Germany), Showa Corporation (Japan), Sona Koyo Steering Systems Ltd. (India), ThyssenKrupp AG (Germany), and TRW Automotive (USA).

Segmentation:

The global automotive electric power steering market segmentation segments the market into the component, fuel, mechanism, type, and vehicle type. The component-based segmentation segments this market into bearing, mechanical rack & pinion, steering column, steering gear, and steering wheel. Based on fuel, the market has been segmented into battery electric vehicle (BEV), diesel, hybrid electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV), and petrol. Vehicles powered by petrol and diesel mostly use electric power steering technology. The electric car offers better integration solution for such steering.

Regarding mechanism, the market has been segmented into collapsible and rigid. The collapsible variety has received more preference, due to the reduced chances of serious injuries to passengers. By type, the market has been segmented into passenger vehicle, heavy commercial vehicle (HCV), and light commercial vehicle (LCV).

Regional Analysis

The regional segmentation of the global automotive electric power steering market has segmented the global market into regional markets namely Asia Pacific, North America, Europe, the rest of the world (RoW). North America market is growing primarily due to the revamped automotive sector and heavy investments ensuring the intake of luxury cars. Other factors contributing to the market growth are the adoption of self-driving cars, the high purchasing power of consumers, increased research & development (R&D) activities for innovation, the presence of key market players in this region, technological advancement, and growing investment in luxury cars and electric cars. Significant country-specific markets in this region are USA and Canada.

During the forecast period, the Asia Pacific market is expected to rise as the next global automotive hub due to the rising income and purchasing power of the middle class. The electric power steering system can be adopted in all segments of automobiles. Therefore, it can reduce the production cost via mass production. India is the most important market in this region, followed by the remaining countries in the Asia Pacific region. China and Japan are two important economies in this region.

In Europe, the market is strong due to the availability of the maximum variety of technologically superior cars and the presence of many key market players. In this region, the important country-specific markets are Germany and Spain. France and UK are two important economies in this region.

Latest Industry News

• China Automotive Systems Inc. (CAAS), a leading power steering components and systems supplier in China, signed an agreement with Hyoseong Electric Co. Ltd. for a joint venture. This venture aims to design, manufacture and sell electric motors for automotive electric power steering systems (EPS). 27 DEC 2018
• 2019 Toyota Camry Hybrid has been launched in India at a price of Rs 36.95 lakhs (the US $ 51,796.51). 18 JAN 2019

Get Complete Report Details of Automotive Electric Power Steering Market @ https://www.marketresearchfuture.com/reports/automotive-electric-power-steering-market-5743

Continued……. 

About Us:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR) and Market Research & Consulting Services.

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Automotive Electric Power Steering Market 2019 World Analysis and Forecast to 2023

Automotive Electric Power Steering Market Information by Type (Pinion, Rack, Column), Component (Bearing, Rack & Pinion, Electric Motor, Steering - Wheel, Gear, Column), Mechanism (Collapsible, Rigid), Fuel, Vehicle, and Region – Global Forecast to 2023.

Competitive Insight:

Prominent players in automotive electric power steering market are KSR International Company (Canada), Mando Corporation (South Korea), Delphi Automotive (U.K), Sona Koyo Steering Systems Ltd. (India), Mitsubishi Electric Corporation (Japan), Showa Corporation (Japan), JTEKT Corporation (Japan), Hitachi Automotive Systems Ltd. (U.S.), Nexteer Automotive (U.S.), Federal-Mogul (U.S.), Robert Bosch GmbH (Germany), NSK Ltd. (Japan), Hyundai Mobis (South Korea), TRW Automotive (U.S.), and ThyssenKrupp AG (Germany), and others.

Get Free Sample Report of Automotive Electric Power Steering Market @ https://www.marketresearchfuture.com/sample_request/5743

Overview:

The automotive electric power steering market is gaining much mileage with automotive makers now focusing more on comfort, along with performance. This intention has brought in many details under the purview of the automotive makers. One among them is the electric power steering. The result is a better experience for the driver where a balance has been maintained between specifications and aesthetic appeals. The steering wheel got much notice as this is an integral force that can tire down the driver. Modern technology reduces the engine load utilized by the steering wheel to make it operate more smoothly. This would also lessen the fuel consumption and increase car performance. The global automotive electric power steering market is expecting a 6% CAGR during the forecast period (2018-2023), owing to the inclusion of such technology in car production across the world. Market Research Future (MRFR) published a report that has at its core in a detailed analysis of segments and market factors that can impact the market in the coming years. Among the factors, preference of the automotive makers for a better and greener car can drive the market forward.

Segmental Analysis:

The global automotive electric power steering market can be segmented by type, component, mechanism, vehicle type, and fuel.

Type-wise segmentation of the automotive electric power steering market includes pinion-assist type, rack assist type, and column assist type. Column assist type is the most common one as it helps in saving crucial space in compact cars.

Component-based segmentation of the automotive electric power steering market comprises bearing, mechanical rack & pinion, steering wheel, steering gear, and steering column.

Based on the mechanism, the automotive electric power steering market includes collapsible and rigid. The collapsible variety enjoys much preference.

Based on the fuel-used, the automotive electric power steering market can be segmented into Petrol, Diesel, battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), and hybrid electric vehicle (HEV). Petrol and diesel-powered cars mostly use electric power steering technology. The electric car has better integration solution for such steering.  

Based on vehicle type, the automotive electric power steering market comprises Passenger Vehicle, Light Commercial Vehicle (LCV), and Heavy Commercial Vehicle (HCV).

Regional Analysis:

Considering regions, the automotive electric power steering market can be segmented into North America, Asia Pacific (APAC), Europe, and Rest-of-the-World (RoW).

North America market is doing great in the segment with the automotive sector revamping itself, and heavy investments are ensuring the intake of the luxury cars which squarely influences the market. In addition, the region is investing mostly in luxury cars and electric cars which is providing the market much-needed boost.

The APAC market is expected to register significant market revenue during the forecast period owing to major market players expanding their business in the region. Infrastructural cost is relatively less in the region than other regions which attracts a lot of business. With that, increasing disposable income is inflating the consumer pool which can provide the market with traction.

In 2018, Nexteer introduced a steering system where steering on-demand system enables safe and intuitive transitions from manual to automated and vice versa which can give the driver a better driving experience. The quiet steering is not going to change its position in the automated mode even when the car is taking a turn.

Suzuki launched their KingQuad 500AXi Power Steering in 2018 where the ATVs are going to tackle tough trails easily without much vibration. Its fuel injection system and twin iridium spark plugs can ensure easy starting to assist the driver.

Get Complete Report Details of Automotive Electric Power Steering Market @ https://www.marketresearchfuture.com/reports/automotive-electric-power-steering-market-5743 

Continued……. 

About Us:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR) and Market Research & Consulting Services.

CONTACT US:

Market Research Future

Office No. 528, Amanora Chambers

Magarpatta Road, Hadapsar,

Pune - 411028

Maharashtra, India

+1 646 845 9312

sales@marketresearchfuture.com

Automotive Electric Power Steering Market Competitive landscape By 2023

Automotive Electric Power Steering Market 2018

Automotive Electric Power Steering Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2023. Automotive Electric Power Steering Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023.

Automotive Electric Power Steering Market Information by Type (Pinion, Rack, Column), Component (Bearing, Rack & Pinion, Electric Motor, Steering - Wheel, Gear, Column), Mechanism (Collapsible, Rigid), Fuel, Vehicle, and Region – Global Forecast to 2023.

Get Sample Report of Automotive Electric Power Steering Market@ https://www.marketresearchfuture.com/sample_request/5743

Market Scenario:

The automotive industry has been using traditional hydraulic pressure, provided by a pump, driven by the engine. This pump would constantly run, using the generated engine power, thus, placing an adverse load on the engine. This pump would continue running even when the steering wheel isn’t operated, adversely affecting the vehicle fuel consumption. With electric power steering mechanism, the engine load is utilized to guide the driver only when the steering wheel is turned, in either direction, thereby, decreasing the fuel consumption. The drag or thrust is still exerted on the engine but actually occurs only when the steering movement is performed, thereby improving the engine efficiency drastically.

There are many factors that are responsible for the growth of automotive electric power steering market. Firstly, customers over the world seek technically superior automobiles with high-end features, economical cost, and better safety options. Secondly, automobile makers always try to manufacture cleaner, greener cars with a lesser carbon footprint, which can be achieved by incorporating this system. Thirdly, the consumers desire more peaceful and comfortable driving experience, with a lesser driving effort that can again be achieved using electric power steering system. The global automotive electric power steering market is estimated to grow with a CAGR of approx. 6% (2017 to 2023).

Automotive Electric Power Steering Market by Segmentation:

On the basis of type, the most commonly used electric power steering is the column assist type, since it integrates system electronics and assisting mechanism with the steering column, helping to save crucial space in compact cars. On the basis of component, the one type deciding the performance of the steering wheel assembly is the electric motor. Higher the motor efficiency, better is the conversion of steering rotation into wheel movement, thus requiring lesser effort. On the basis of mechanism, the collapsible variety is more preferred, owing to reduced chances of serious injuries to passengers. On the basis of fuel used, petrol and diesel-powered cars use electric power steering technology, extensively. However, electric powered vehicles and hybrids generally adapt better to the electric power steering technology, owing to the better integration of this system with the automobile functionality.

On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. The North America market (the U.S. and Canada, in particular), has shown a healthy upward trend in the research & development and adoption of self-driving cars. The electric power steering mechanism aids the smooth movement of these self-driving automobiles, thus, having a strong growth prospect in this market. The Asia Pacific market is expected to be the next global automotive hub owing to the rising income and purchasing power of the middle class. The electric power steering system can be adopted in all segments of automobiles (high, medium, and low), thus, bringing down the production cost due to mass production. The Europe region has the maximum variety of technologically superior cars where in, the vehicle functioning is further enhanced using this system.

The Key Players In Automotive Electric Power Steering Market Are:

Delphi Automotive (U.K), Mando Corporation (South Korea), Robert Bosch GmbH (Germany), KSR International Company (Canada), Mitsubishi Electric Corporation (Japan), Showa Corporation (Japan), JTEKT Corporation (Japan), Hitachi Automotive Systems Ltd. (U.S.), Sona Koyo Steering Systems Ltd. (India), Nexteer Automotive (U.S.), Federal-Mogul (U.S.), Hyundai Mobis (South Korea), NSK Ltd. (Japan), TRW Automotive (U.S.), and Thyssenkrupp AG (Germany), among others.

The report for Global Automotive Electric Power Steering Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

Get Complete Report Details of Automotive Electric Power Steering Market @ https://www.marketresearchfuture.com/reports/automotive-electric-power-steering-market-5743 

Table of Contents

1 Executive Summary

2 Scope Of The Report

3 Market Landscape

4 Market Dynamics

5 Global Automotive Electric Power Steering Market, By Type

6 Global Automotive Electric Power Steering Market, By Component

7 Global Automotive Electric Power Steering Market, By Mechanism

8 Global Automotive Electric Power Steering Market, By Type Of Fuel Used

9 Global Automotive Electric Power Steering Market, By Vehicle Type

10 Global Automotive Electric Power Steering Market, By Region

11 Competitive Landscape

12 Company Profile

Continued…….  

About Us:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR) and Market Research & Consulting Services.

CONTACT US:

Market Research Future

Office No. 528, Amanora Chambers

Magarpatta Road, Hadapsar,

Pune - 411028

Maharashtra, India

+1 646 845 9312

sales@marketresearchfuture.com

Automotive Electric Power Steering Market 2018 Global Growth Opportunities, Key Driving Factors, Market Scenario and Forecast to 2023

Automotive Electric Power Steering Market 2018

Automotive Electric Power Steering Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2023. Automotive Electric Power Steering Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023.

Automotive Electric Power Steering Market Information by Type (Pinion, Rack, Column), Component (Bearing, Rack & Pinion, Electric Motor, Steering - Wheel, Gear, Column), Mechanism (Collapsible, Rigid), Fuel, Vehicle, and Region – Global Forecast to 2023.

Get Sample Report of Automotive Electric Power Steering Market@ https://www.marketresearchfuture.com/sample_request/5743

Market Scenario:

The automotive industry has been using traditional hydraulic pressure, provided by a pump, driven by the engine. This pump would constantly run, using the generated engine power, thus, placing an adverse load on the engine. This pump would continue running even when the steering wheel isn’t operated, adversely affecting the vehicle fuel consumption. With electric power steering mechanism, the engine load is utilized to guide the driver only when the steering wheel is turned, in either direction, thereby, decreasing the fuel consumption. The drag or thrust is still exerted on the engine but actually occurs only when the steering movement is performed, thereby improving the engine efficiency drastically.

There are many factors that are responsible for the growth of automotive electric power steering market. Firstly, customers over the world seek technically superior automobiles with high-end features, economical cost, and better safety options. Secondly, automobile makers always try to manufacture cleaner, greener cars with a lesser carbon footprint, which can be achieved by incorporating this system. Thirdly, the consumers desire more peaceful and comfortable driving experience, with a lesser driving effort that can again be achieved using electric power steering system. The global automotive electric power steering market is estimated to grow with a CAGR of approx. 6% (2017 to 2023).

Automotive Electric Power Steering Market by Segmentation:

On the basis of type, the most commonly used electric power steering is the column assist type, since it integrates system electronics and assisting mechanism with the steering column, helping to save crucial space in compact cars. On the basis of component, the one type deciding the performance of the steering wheel assembly is the electric motor. Higher the motor efficiency, better is the conversion of steering rotation into wheel movement, thus requiring lesser effort. On the basis of mechanism, the collapsible variety is more preferred, owing to reduced chances of serious injuries to passengers. On the basis of fuel used, petrol and diesel-powered cars use electric power steering technology, extensively. However, electric powered vehicles and hybrids generally adapt better to the electric power steering technology, owing to the better integration of this system with the automobile functionality.

On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. The North America market (the U.S. and Canada, in particular), has shown a healthy upward trend in the research & development and adoption of self-driving cars. The electric power steering mechanism aids the smooth movement of these self-driving automobiles, thus, having a strong growth prospect in this market. The Asia Pacific market is expected to be the next global automotive hub owing to the rising income and purchasing power of the middle class. The electric power steering system can be adopted in all segments of automobiles (high, medium, and low), thus, bringing down the production cost due to mass production. The Europe region has the maximum variety of technologically superior cars where in, the vehicle functioning is further enhanced using this system.

The Key Players In Automotive Electric Power Steering Market Are:

Delphi Automotive (U.K), Mando Corporation (South Korea), Robert Bosch GmbH (Germany), KSR International Company (Canada), Mitsubishi Electric Corporation (Japan), Showa Corporation (Japan), JTEKT Corporation (Japan), Hitachi Automotive Systems Ltd. (U.S.), Sona Koyo Steering Systems Ltd. (India), Nexteer Automotive (U.S.), Federal-Mogul (U.S.), Hyundai Mobis (South Korea), NSK Ltd. (Japan), TRW Automotive (U.S.), and Thyssenkrupp AG (Germany), among others.

The report for Global Automotive Electric Power Steering Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

Get Complete Report Details of Automotive Electric Power Steering Market @ https://www.marketresearchfuture.com/reports/automotive-electric-power-steering-market-5743  

Continued…….  

About Us:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR) and Market Research & Consulting Services.

CONTACT US:

Market Research Future

Office No. 528, Amanora Chambers

Magarpatta Road, Hadapsar,

Pune - 411028

Maharashtra, India

+1 646 845 9312

sales@marketresearchfuture.com

Automotive Electric Power Steering Market- Global Industry Size, Share, Trends, Analysis and Forecast 2018 – 2023

Market Highlights:

Global car manufacturers have always tried to provide a strong value proposition along with basic vehicle functionality. Earlier, automakers were more concerned about the car performance, inlcuding vehicle speed, mileage, rpm, and thrust created by the engine, among others. The attention towards driver comfort, although present, definitely took a back seat in those times. With the passing of decades, the competition within the different companies in the automotive field became more intense. In order to carve out their niche loyal customer set and enhance their reputation and market standing, the automakers came up with different value and feature offerings. Thus, the focus of the automotive manufacturers shifted from mere technical aspects and performance to creating a balance between specifications and aesthetic appeals to deliver a better experience to customers. In this context, the seating arrangement and upholstery, in general, were the first things that were revamped. The primary assumption was that - the more convenient the seating area and overall interiors, the better the feel and comfort for the customer. However, the actual riding comfort of the driver wasn’t drastically improved.

This was when the automakers shifted their focus to the technicalities of riding and functioning components. Aspects such as ergonomics and riding posture started gaining precedence in vehicle design. In order to correct the riding posture, the design of the seating arrangement was made flexible and customizable. The steering wheel had to be designed for easy and effortless operation to minimize driver fatigue. This is where the electric power steering system came into the picture. The system basically reduces the engine load utilized by the steering wheel. The traditional hydraulic pump system would continuously draw power from the engine even when the steering wheel wasn’t operated, ultimately increasing the engine load. This would, in turn, hamper the engine efficiency and decrease the mileage of the automobile. Therefore, the automotive electric power steering mechanism helps in reducing the driver effort while providing a smooth riding experience.

On the basis of region, the market is segmented based on North America, Asia Pacific, Europe, and Rest of the World. The customers in the U.S. and Canada prefer to undertake long road journeys for leisure and work-related activities. For the same, it’s important for automakers to manufacture cars that require lesser riding effort, thus, providing greater comfort and riding experience. Hence, this system has a strong growth proposition in the North America market. Countries such as India and China are on their way to becoming automotive hubs of the world, providing the Asia Pacific region with a strong proposition for future growth of the car market, globally, since this region requires small and high powered cars that can be maneuvered easily even in traffic. The customers in Europe always prefer luxury cars. Thus, the comfortable experience of the driver can be enhanced using this system.

Get Sample Report@ https://www.marketresearchfuture.com/sample_request/5743 

Scope of the Report

This study provides an overview of the Global Automotive Electric Power Steering Market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global automotive electric power steering market by its Type, Component, Mechanism, Type of Fuel Used, Vehicle, and Region.

By Type

• Pinion Assist Type
• Rack Assist Type
• Column Assist Type

By Component

• Bearing
• Mechanical Rack and Pinion
• Steering Wheel
• Steering Gear
• Steering Column
• Electric Motor

By Mechanism

• Collapsible
• Rigid

By Type of Fuel Used

• Petrol
• Diesel
• BEV
• PHEV
• HEV

By Vehicle Types

• Passenger Vehicle
• Light Commercial Vehicle (LCV)
• Heavy Commercial Vehicle (HCV)

By Region

• North America
• Europe
• Asia Pacific
• Rest of the World

Key Players

The key players in automotive electric power steering market are Delphi Automotive (U.K.), Mando Corporation (South Korea), Robert Bosch GmbH (Germany), KSR International Company (Canada), Mitsubishi Electric Corporation (Japan), Showa Corporation (Japan), JTEKT Corporation (Japan), Hitachi Automotive Systems Ltd. (U.S.), Sona Koyo Steering Systems Ltd. (India), Nexteer Automotive (US), Federal-Mogul (U.S.), Hyundai Mobis (South Korea), NSK Ltd. (Japan), TRW Automotive (U.S.), and Thyssenkrupp AG (Germany), among others.

Access Report Details@ https://www.marketresearchfuture.com/reports/automotive-electric-power-steering-market-5743 

…….. Continued

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

CONTACT US:

Market Research Future

Office No. 528, Amanora Chambers

Magarpatta Road, Hadapsar,

Pune - 411028

Maharashtra, India

+1 646 845 9312

sales@marketresearchfuture.com

Huge Growth And Opportunities in Global Automotive Electric Power Steering Market Till 2023

Automotive Electric Power Steering Market 2018

Automotive Electric Power Steering Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2023. Automotive Electric Power Steering Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023

Automotive Electric Power Steering Market Information by Type (Pinion, Rack, Column), Component (Bearing, Rack & Pinion, Electric Motor, Steering - Wheel, Gear, Column), Mechanism (Collapsible, Rigid), Fuel, Vehicle, and Region – Global Forecast to 2023.

Get Sample Report of Automotive Electric Power Steering Market@ https://www.marketresearchfuture.com/sample_request/5743

Market Scenario:

The automotive industry has been using traditional hydraulic pressure, provided by a pump, driven by the engine. This pump would constantly run, using the generated engine power, thus, placing an adverse load on the engine. This pump would continue running even when the steering wheel isn’t operated, adversely affecting the vehicle fuel consumption. With electric power steering mechanism, the engine load is utilized to guide the driver only when the steering wheel is turned, in either direction, thereby, decreasing the fuel consumption. The drag or thrust is still exerted on the engine but actually occurs only when the steering movement is performed, thereby improving the engine efficiency drastically.

There are many factors that are responsible for the growth of automotive electric power steering market. Firstly, customers over the world seek technically superior automobiles with high-end features, economical cost, and better safety options. Secondly, automobile makers always try to manufacture cleaner, greener cars with a lesser carbon footprint, which can be achieved by incorporating this system. Thirdly, the consumers desire more peaceful and comfortable driving experience, with a lesser driving effort that can again be achieved using electric power steering system. The global automotive electric power steering market is estimated to grow with a CAGR of approx. 6% (2017 to 2023).

Key Players

The key players in automotive electric power steering market are Delphi Automotive (U.K), Mando Corporation (South Korea), Robert Bosch GmbH (Germany), KSR International Company (Canada), Mitsubishi Electric Corporation (Japan), Showa Corporation (Japan), JTEKT Corporation (Japan), Hitachi Automotive Systems Ltd. (U.S.), Sona Koyo Steering Systems Ltd. (India), Nexteer Automotive (U.S.), Federal-Mogul (U.S.), Hyundai Mobis (South Korea), NSK Ltd. (Japan), TRW Automotive (U.S.), and Thyssenkrupp AG (Germany), among others.

Automotive Electric Power Steering Market by Segmentation:

On the basis of type, the most commonly used electric power steering is the column assist type, since it integrates system electronics and assisting mechanism with the steering column, helping to save crucial space in compact cars. On the basis of component, the one type deciding the performance of the steering wheel assembly is the electric motor. Higher the motor efficiency, better is the conversion of steering rotation into wheel movement, thus requiring lesser effort. On the basis of mechanism, the collapsible variety is more preferred, owing to reduced chances of serious injuries to passengers. On the basis of fuel used, petrol and diesel-powered cars use electric power steering technology, extensively. However, electric powered vehicles and hybrids generally adapt better to the electric power steering technology, owing to the better integration of this system with the automobile functionality.

On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. The North America market (the U.S. and Canada, in particular), has shown a healthy upward trend in the research & development and adoption of self-driving cars. The electric power steering mechanism aids the smooth movement of these self-driving automobiles, thus, having a strong growth prospect in this market. The Asia Pacific market is expected to be the next global automotive hub owing to the rising income and purchasing power of the middle class. The electric power steering system can be adopted in all segments of automobiles (high, medium, and low), thus, bringing down the production cost due to mass production. The Europe region has the maximum variety of technologically superior cars where in, the vehicle functioning is further enhanced using this system.

The report for Global Automotive Electric Power Steering Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

Get Details Information of Automotive Electric Power Steering Market @ https://www.marketresearchfuture.com/reports/automotive-electric-power-steering-market-5743

Table of Content

1 Executive Summary

2 Scope Of The Report

3 Market Landscape

4 Market Dynamics

5 Global Automotive Electric Power Steering Market, By Type

6 Global Automotive Electric Power Steering Market, By Component

7 Global Automotive Electric Power Steering Market, By Mechanism

8 Global Automotive Electric Power Steering Market, By Type Of Fuel Used

11 Competitive Landscape

12 Company Profile

Continued……. 

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

CONTACT US:

Market Research Future

Office No. 528, Amanora Chambers

Magarpatta Road, Hadapsar,

Pune - 411028

Maharashtra, India

+1 646 845 9312

sales@marketresearchfuture.com

Automotive Electric Power Steering Market Competitive landscape By 2023

Automotive Electric Power Steering Market 2018

Automotive Electric Power Steering Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2023. Automotive Electric Power Steering Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023

Automotive Electric Power Steering Market Information by Type (Pinion, Rack, Column), Component (Bearing, Rack & Pinion, Electric Motor, Steering - Wheel, Gear, Column), Mechanism (Collapsible, Rigid), Fuel, Vehicle, and Region – Global Forecast to 2023.

Market Highlights:

Global car manufacturers have always tried to provide a strong value proposition along with basic vehicle functionality. Earlier, automakers were more concerned about the car performance, inlcuding vehicle speed, mileage, rpm, and thrust created by the engine, among others. The attention towards driver comfort, although present, definitely took a back seat in those times. With the passing of decades, the competition within the different companies in the automotive field became more intense. In order to carve out their niche loyal customer set and enhance their reputation and market standing, the automakers came up with different value and feature offerings. Thus, the focus of the automotive manufacturers shifted from mere technical aspects and performance to creating a balance between specifications and aesthetic appeals to deliver a better experience to customers. In this context, the seating arrangement and upholstery, in general, were the first things that were revamped. The primary assumption was that - the more convenient the seating area and overall interiors, the better the feel and comfort for the customer. However, the actual riding comfort of the driver wasn’t drastically improved.

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This was when the automakers shifted their focus to the technicalities of riding and functioning components. Aspects such as ergonomics and riding posture started gaining precedence in vehicle design. In order to correct the riding posture, the design of the seating arrangement was made flexible and customizable. The steering wheel had to be designed for easy and effortless operation to minimize driver fatigue. This is where the electric power steering system came into the picture. The system basically reduces the engine load utilized by the steering wheel. The traditional hydraulic pump system would continuously draw power from the engine even when the steering wheel wasn’t operated, ultimately increasing the engine load. This would, in turn, hamper the engine efficiency and decrease the mileage of the automobile. Therefore, the automotive electric power steering mechanism helps in reducing the driver effort while providing a smooth riding experience.

On the basis of region, the market is segmented based on North America, Asia Pacific, Europe, and Rest of the World. The customers in the U.S. and Canada prefer to undertake long road journeys for leisure and work-related activities. For the same, it’s important for automakers to manufacture cars that require lesser riding effort, thus, providing greater comfort and riding experience. Hence, this system has a strong growth proposition in the North America market. Countries such as India and China are on their way to becoming automotive hubs of the world, providing the Asia Pacific region with a strong proposition for future growth of the car market, globally, since this region requires small and high powered cars that can be maneuvered easily even in traffic. The customers in Europe always prefer luxury cars. Thus, the comfortable experience of the driver can be enhanced using this system.

Scope of the Report

This study provides an overview of the Global Automotive Electric Power Steering Market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global automotive electric power steering market by its Type, Component, Mechanism, Type of Fuel Used, Vehicle, and Region.

• By Type
• Pinion Assist Type
• Rack Assist Type
• Column Assist Type
• By Component
• Bearing
• Mechanical Rack and Pinion
• Steering Wheel
• Steering Gear
• Steering Column
• Electric Motor
• By Mechanism
• Collapsible
• Rigid
• By Type of Fuel Used
• Petrol
• Diesel
• BEV
• PHEV
• HEV
• By Vehicle Types
• Passenger Vehicle
• Light Commercial Vehicle (LCV)
• Heavy Commercial Vehicle (HCV)
• By Region
• North America
• Europe
• Asia Pacific
• Rest of the World

Key Players

The key players in automotive electric power steering market are Delphi Automotive (U.K.), Mando Corporation (South Korea), Robert Bosch GmbH (Germany), KSR International Company (Canada), Mitsubishi Electric Corporation (Japan), Showa Corporation (Japan), JTEKT Corporation (Japan), Hitachi Automotive Systems Ltd. (U.S.), Sona Koyo Steering Systems Ltd. (India), Nexteer Automotive (US), Federal-Mogul (U.S.), Hyundai Mobis (South Korea), NSK Ltd. (Japan), TRW Automotive (U.S.), and Thyssenkrupp AG (Germany), among others.

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