Collapsible steering column– Largest share of electric power steering market in 2017

Electric Power Steering Market worth 42.01 Billion USD by 2025 The report "Electric Power Steering Market by Component, Type (CEPs, PEPs, REPs), Mechanism (Collapsible, Rigid), Motor Type (Brushless, Brush), Application, Off Highway (Construction, Agricultural), EV (BEV, PHEV, HEV), and Region - Global Forecast to 2025", The global electric power steering market is estimated to be USD 25.83 Billion in 2017 and is projected to grow to USD 42.01 Billion by 2025, at a CAGR of 6.27%. The key growth drivers for the market are the increasing number of government norms and mandates related to fuelefficient technologies, measures taken by OEMs worldwide to reduce the weight and complexity of their vehicles, and the globally increasing vehicle production.

Browse 128 market data Tables and 78 Figures spread through 187 Pages and in-depth TOC on "Electric Power Steering Market by Component, Type (CEPs, PEPs, REPs), Mechanism (Collapsible, Rigid), Motor Type (Brushless, Brush), Application, Off Highway (Construction, Agricultural), EV (BEV, PHEV, HEV), and Region Global Forecast to 2025" https://www.marketsandmarkets.com/Market-Reports/electric-power-steering-market-58413446.html Early buyers will receive 10% customization on reports.

An Electric Power Steering (EPS) system offers an alternative to traditional steering systems such as Hydraulic and Electro-Hydraulic. It deploys an electric motor to assist the driver of a vehicle. The electric power steering market is segmented by type into column EPS (C-EPS), rack EPS (R-EPS), and pinion EPS (P-EPS). The column EPS (C-EPS) is estimated to hold the largest share of this market, by type.

Rack EPS (R-EPS) is estimated to be the fastest growing segment of the market, by type. Factors contributing to the growth of this segment include the increasing installation rate of EPS in commercial vehicles. Rack EPS (R-EPS) is mostly used in heavy commercial vehicles. Hence, the growing popularity of EPS in heavy commercial vehicles would trigger the growth of R-EPS systems.

By mechanism, the market for collapsible electric power steering system is estimated to experience the highest growth during the forecast period. With the advent of the era of advanced technologies, the use of a collapsible electric power steering system has increased. The collapsible electric power steering systems are widely used in electric as well as conventional vehicles.

Column assist EPS (CEPS) holds the largest market share The column assist EPS (CEPS), which incorporates the steering assist mechanism on the column, holds the largest share of the electric power steering market. The growth of this EPS type can be attributed to the higher production of passenger cars as compared to commercial vehicles. CEPS can support the steering function of the driver on low torques and low frontal axle loads, which is suitable for low-end and mid-range passenger cars. As these vehicle segments account for the largest share of the overall vehicle production, CEPS has the highest market share amongst all the EPS types.

Collapsible steering column– Largest share of electric power steering market The collapsible steering column is a mechanism of an upper column and a lower shaft in which the lower shaft enters into a housing in the event of an accident. This column is installed in passenger cars and light commercial vehicles. The growing production of passenger cars and light commercial vehicles, as well as increasing government mandates on road safety, are the primary factors driving the growth of collapsible steering columns in EPS systems.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=58413446 Global Players propelling the growth of Asia Pacific market The electric power steering market is dominated by a few global players and many regional players. The ecosystem of the electric power steering market includes research & development, raw material supply, assembly and manufacturing, system integration, marketing and sales, automotive manufacturing, end-users, and post-sales service. The report also profiles the most promising players in the electric power steering market. The competitive leadership mapping of this market presents an interesting picture of many big and small players that have become a force to reckon. A few of the key players include Robert Bosch (Germany), Delphi (UK), JTEKT (Japan), Nexteer (US), GKN (UK), and Federal-Mogul (US).

Nexteer (US) is a global supplier of automotive parts for the passenger and commercial vehicle markets, with a major focus on electric power steering systems. The company offers various kinds of electric power steering systems such as Column Assist EPS (CEPS), Single Pinion Assist EPS (SPEPS), Dual Pinion Assist EPS (DPEPS), and Rack Assist EPS (REPS). It has an advanced product offering as it actively launches new products in the electric power steering market. For example, in August 2017, Nexteer signed a long-term agreement with WABCO to manufacture and supply active steering systems for medium and heavy-duty commercial vehicles using MagnaSteer Actuation Technology. Nexteer, in collaboration with WABCO, will integrate MagnaSteer’s technology with Sheppard’s suite of power steering gears for heavy-duty commercial and specialty vehicles. In November 2017, the company inaugurated a new technical center in Suzhou Industrial Park of China. The new Asia Pacific Technical Center encompasses 30,000-plus sq. meters, 14,000 sq. meters of office space and 12,000 sq. meters of R&D facilities along with a test and validation lab. This center will house product engineering, manufacturing engineering, purchasing, finance, sales and management of the company.

Other major players in the electric power steering market are focusing on expanding their regional presence to achieve continuous and sustainable development. This is evident from several collaborations and joint venture projects these companies have undertaken in the recent years.

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