Global Electric Power Steering Growth or Demand Increase or Decrease for what contains ?

Automotive technology developments, stricter pollution laws, and growing customer demand for fuel-efficient vehicles are driving the considerable expansion of the global electric power steering (EPS) market. By providing accurate steering control and increasing overall driving comfort, EPS systems improve a vehicle's performance. The need for EPS solutions is also being driven by the move toward electric and hybrid vehicles as well as developments in autonomous driving technology. These vehicles are lighter and more energy-efficient than those with conventional hydraulic steering systems.

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Global Electric Power Steering 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.

Global 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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Global Electric Power Steering Market Overview:

The Maximize Market Research report assists clients in gaining a comprehensive understanding of the competitive landscape, serving as a valuable resource for strategic planning purposes. The comprehensive Global Electric Power Steering market overview furnishes extensive information regarding market size, trade statistics, prominent participants, and a range of market indicators, encompassing aspects such as life cycle, prevailing trends, and more.

Global Electric Power Steering Growth or Demand in which regions?

The global electric power steering (EPS) market is experiencing robust growth, particularly in regions such as North America, Europe, and Asia-Pacific. North America and Europe are leading due to their high automotive production rates and increasing demand for advanced steering technologies. In Asia-Pacific, rapid industrialization, a booming automotive sector, and rising consumer preferences for fuel-efficient vehicles are driving significant demand for EPS systems. Emerging markets in Latin America and the Middle East are also showing promising growth potential as they adopt more advanced automotive technologies.

Global Electric Power Steering Market Scope & Methodology:

The competitive landscape of the Global Electric Power Steering market encompasses aspects like technology adoption, financial strength, portfolio, mergers and acquisitions, joint ventures, and strategic alliances. A comprehensive report delves into the drivers, limitations, opportunities, and challenges inherent in the Global Electric Power Steering market. The report employed a bottom-up approach to ascertain Global Electric Power Steering market estimations and growth rates.

To gain insights into Global Electric Power Steering market penetration, pricing dynamics, demand analysis, and competitive panorama, the report executed regional analysis at local, regional, and global levels. Essential details about the Global Electric Power Steering market, including stakeholders, investors, and new entrants, are presented to facilitate the development of marketing strategies and investment plans.

Both primary and secondary data gathering techniques were employed for the Global Electric Power Steering Market. Primary approaches involved surveys, questionnaires, and interviews with industry leaders and business proprietors, while secondary data encompassed sources like press releases, annual and financial reports, white papers, etc. SWOT analysis was leveraged to pinpoint market vulnerabilities and weaknesses, while the PORTER framework was applied to gauge industry competitiveness within the Global Electric Power Steering Market.

Global 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)
23. Danfoss (Denmark)
24. STMicroelectronics (Switzerland)

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Key questions answered in the Global Electric Power Steering Market are:

• What is Global Electric Power Steering ?
• What is the growth rate of the Global Electric Power Steering Market?
• Which are the factors expected to drive the Global Electric Power Steering market growth?
• What are the different segments of the Global Electric Power Steering Market?
• What are the factors restraining the growth of the Global Electric Power Steering Market?
• What is the demand pattern of the Global Electric Power Steering Market?
• What major challenges could the Global Electric Power Steering Market face in the future? 

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Key Offerings:

• Past Market Size and Competitive Landscape
• Past Pricing and price curve by region
• Market Size, Share, Size & Forecast by different segment |
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation – A detailed analysis by segment with their sub-segments and Region 
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective 

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