Market Scenario
Electric Power Steering Market is expected to reach 42.63 Billion by 2026 from 23.25 Billion in 2016 at CAGR of 6.25 % (Detailed analysis of the market CAGR is provided in the report). In previous years, 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.Electric Power Steering market is segmented by component, electric motor type, application, electric vehicle, type, mechanism, off-highway vehicles and geography. The market by component is segmented by steering wheel, steering column, sensors, steering gear, mechanical rack and pinion, electronic control unit (ECU), electric motor and bearings. The market on the basis of electric motor type includes brushed dc motors and brushless dc motors. Electric vehicle segment is classified as HEV, BEV and PHEV. Type market is segmented as C-EPS, P-EPS and R-EPS. The mechanisms covered in this report are collapsible EPS and rigid EPS. Off-highway vehicles segment bifurcated as agricultural equipment and construction equipment. Applications covered in this report passenger cars and commercial vehicles. The market on the basis of geography is segmented by North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. 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 will restrain the market growth. APAC is going to emerge as one of the higher growth region in forecast period followed by North America and Europe. Rising per capita income of the region’s widespread consumer base has created a favorable environment for the growth will drive the market in APAC region. The North American and European markets are set to have steady pace during the forecast period because majority of the vehicles in these regions are equipped with electric power steering system.
Key Highlights:
• Assessment of market definition along with the identification of key players and analysis of their strategies to determine the competitive outlook of the market, opportunities, drivers, restraints and challenges for this market during the forecast period • Complete quantitative analysis of the industry from 2016 to 2026 to enable the stakeholders to capitalize on the prevailing market opportunities • In-depth analysis of the industry on the basis of market segments, market dynamics, market size, competition & companies involved value chain • Electric Power Steering market analysis and comprehensive segmentation with respect to the component, electric motor type, application, electric vehicle, type, mechanism, off-highway vehicles and geography to assist in strategic business planning • Electric Power Steering market analysis and forecast for five major geographies North America, Europe, Asia pacific, Middle East & Africa, Latin America and their key regions Years that have been considered for the study are as follows: • Base Year – 2016 • Estimated Year – 2017 • Forecast Period – 2017 to 2026 For company profiles, 2016 has been considered as the base year. In cases, wherein information was unavailable for the base year, the years prior to it have been considered
Research Methodology
Research methodology used in this report contains various secondary sources including directories such as Japan Automobile Manufacturers Association (JAMA), European Automobile Manufacturers Association (ACEA), Canadian Automobile Association (CAA), and Korea Automobile Manufacturers Association (KAMA). Bloomberg, Hoovers, and Factiva are some of the sites that are being referred to gain insights about Electric Power Steering market. Experts from top manufacturing companies along with other stakeholders have been considered. This is done to validate and collect critical information for evaluating trends related to this market during the forecast period. Top-down and bottom-up approaches have been used to estimate the global and regional size of this market. Data triangulation techniques along with other comparative analysis are also used to calculate the exact size of the Electric Power Steering market globallyKey Players in the Electric Power Steering Market Are: • Nexteer • JteKT • Robert Bosch • ZF • Hitachi • NSK • Hyundai Mobis • Showa Corporation • Thyssenkrupp • Delphi • Federal Mogul • GKN
Key Target Audience:
• Research and Consulting Firms as well as Venture capitalists, private equity firms, and startup companies • Traders, Distributors, and Suppliers of Hybrid Systems/Components Electric power steering manufacturers for passenger cars, light commercial vehicles, and heavy commercial vehicles • Electric Power Steering Market Investors • Electric power steering suppliers • Regional Automobile Associations • Automotive parts manufacturers • Raw material suppliers for electric power steering • Original Equipment Manufacturers (OEM) • Automobile organizations/associations • Component Manufacturers of Hybrid Systems/Components • Automobile manufacturers • Electric power steering design companies
Scope of the Report:
Research report categorizes the Electric Power Steering market based on component, electric motor type, application, electric vehicle, type, mechanism, off-highway vehicles and geography (region wise). Market size by value is estimated and forecasted with the revenues of leading companies operating in the Electric Power Steering market with key developments in companies and market trends Electric Power Steering Market, By Component • Steering Wheel • Steering Column • Sensors • Steering Gear • Mechanical Rack and Pinion • Electronic Control Unit (ECU) • Electric Motor • Bearings Electric Power Steering Market, By Electric Motor Type • Brushed Dc Motors • Brushless Dc Motors Electric Power Steering Market, By Application • Passenger Cars • Commercial Vehicles Electric Power Steering Market, By Electric Vehicle • Plug-In Hybrid Electric Vehicles (PHEV) • Battery Electric Vehicle (BEV) • Hybrid Electric Vehicles (HEV) Electric Power Steering Market, By Type • C-EPS • P-EPS • R-EPS Electric Power Steering Market, By Mechanism • Collapsible EPS • Rigid EPS Electric Power Steering Market, By Off-Highway Vehicles • Agricultural Equipment• Construction Equipment
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