Automotive Electric Power Steering Market: Dynamics
The key driving factor of the global automotive electric power steering market includes fast growing population, which has resulted in increased demand for premium, as well as non-premium vehicles, across all major economies.
The macroeconomic factors, such as growing urbanization & industrial activities, coupled with boost in the living lifestyle and an upsurge in demand for luxury and comfort in vehicles across many countries, is further augmenting the demand for automotive electric power steering.
Additionally, substantial development in the Asian & European automotive sector and technological advancement in traditional vehicle steering will create a noteworthy opportunity for the global automotive electric power steering market.
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Automotive Electric Power Steering Market: Segmentation
The global automotive electric power steering market is segmented on the basis of type, components, electric motor, vehicle type and region.
Based on type, the global automotive electric power steering market is segmented as:
- Rack assist type (REPS)
- Colum assist type (CEPS)
- Pinion assist type (PEPS)
Based on components, the global automotive electric power steering market is segmented as:
- Steering wheel
- Steering column
- Sensors
- Steering gear
- Mechanical rack and pinion
- Electronic control unit
- Electric motor
- Bearing
Based on electric motor, the global automotive electric power steering market is segmented as:
- Brush motor
- Brushless motor
Based on the vehicle type, the global automotive electric power steering market is segmented as:
- Passenger Cars
- Compact
- Mid-Size
- SUV
- Luxury
- LCVs
- HCVs
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Important doubts related to the Automotive Electric Power Steering Market clarified in the report:
- Which regional market is expected to witness the highest growth during the forecast period?
- How has the surging prices of raw materials during the COVID-19 pandemic impacted the growth of the keyword market?
- Why are market players focusing on R&D and innovations?
- Are market players expanding their global presence? If yes, how?
Report regional analysis includes:
- North America
- Europe
- MEA
- East Asia (Japan, China, South Korea)
- South Asia (India, Thailand, Malaysia, Indonesia, Philippines, Rest)
- Oceania (Australia, New Zealand)
- Latin America
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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Automotive Electric Power Steering Market: Prominent players
Prominent players for the global automotive electric power steering market are Jtekt, Nexteer, ZF, Robert Bosch, NSK, Hyundai Mobis, Showa Corporation, Delphi, Thyssenkrupp, Mitsubishi Electric, GKN Federal Mogul and other key market players.
The automotive electric power steering market comprises well-diversified global and regional players with global vendors dominant in the market.
The Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Competitive landscape
- Strategies of key players and Products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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Highlights from the Report
- Elaborated scenario of the parent market
- Transformations in the market dynamics
- Detailed segmentation of the target market
- Historical, current and forecast market size based on value and volume
- Latest industry developments and trends
- Competition landscape
- Strategies adopted by the market players and product developments made
- Potential and niche segments, along with their regional analysis
- Unbiased analysis on performance of the market
- Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
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