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According to our LPI (LP Information) latest study, the global Automotive Electric Power Steering Systems market size was valued at US$ 28090 million in 2023. With growing demand in downstream market, the Automotive Electric Power Steering Systems is forecast to a readjusted size of US$ 50740 million by 2030 with a CAGR of 8.8% during review period.
The research report highlights the growth potential of the global Automotive Electric Power Steering Systems market. Automotive Electric Power Steering Systems are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Automotive Electric Power Steering Systems. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Automotive Electric Power Steering Systems market.
Automotive Electronic Power Steering System is a very popular steering system, a power steering system that directly relies on the motor to provide auxiliary torque; Currently, most of the vehicle are installed the electronic power steering system, and the electronic power steering system can reduce about 5% fuel consumption.
JTEKT, Bosch, NSK, Nexteer and ZF are the top 5 manufacturters of Automotive Electric Power Steering Systems, with about 83% market shares.
Key Features:
The report on Automotive Electric Power Steering Systems market reflects various aspects and provide valuable insights into the industry.
Market Size and Growth: The research report provide an overview of the current size and growth of the Automotive Electric Power Steering Systems market. It may include historical data, market Segmentation by Type (e.g., C-EPS, P-EPS), and regional breakdowns.
Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Automotive Electric Power Steering Systems market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.
Competitive Landscape: The research report provides analysis of the competitive landscape within the Automotive Electric Power Steering Systems market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
Technological Developments: The research report can delve into the latest technological developments in the Automotive Electric Power Steering Systems industry. This include advancements in Automotive Electric Power Steering Systems technology, Automotive Electric Power Steering Systems new entrants, Automotive Electric Power Steering Systems new investment, and other innovations that are shaping the future of Automotive Electric Power Steering Systems.
Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Automotive Electric Power Steering Systems market. It includes factors influencing customer ' purchasing decisions, preferences for Automotive Electric Power Steering Systems product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Automotive Electric Power Steering Systems market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Automotive Electric Power Steering Systems market. The report also evaluates the effectiveness of these policies in driving market growth.
Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Automotive Electric Power Steering Systems market.
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Automotive Electric Power Steering Systems industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.
Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Automotive Electric Power Steering Systems market.
Market Segmentation:
Automotive Electric Power Steering Systems market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Segmentation by type
- C-EPS
- P-EPS
- R-EPS
Segmentation by application
- Passenger Vehicle
- Commercial Vehicle
This report also splits the market by region:
- Americas
- - United States
- - Canada
- - Mexico
- - Brazil
- APAC
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- Europe
- - Germany
- - France
- - UK
- - Italy
- - Russia
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
- JTEKT
- Bosch
- NSK
- Nexteer
- ZF
- Mobis
- Showa
- Thyssenkrupp
- Mando
Key Questions Addressed in this Report
What is the 10-year outlook for the global Automotive Electric Power Steering Systems market?
What factors are driving Automotive Electric Power Steering Systems market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Automotive Electric Power Steering Systems market opportunities vary by end market size?
How does Automotive Electric Power Steering Systems break out type, application?