Electric Power Steering Market to Grow at 6.27% CAGR to 2025

PUNE, India, February 5, 2018 /PRNewswire/ --

ReportsnReports.com adds Electric Power Steering Market Report is forecast to reach $42.01 billion by 2025 from $25.83 billion in 2017 at a CAGR of 6.27% during (2017-2025) driven by the stringent automotive safety and security norms introduced by the government, rising preference of vehicle electrification among OEMs and Tier I suppliers, increasing demand from OEMs for reduced weight and complexity of vehicles, and rising 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" http://www.reportsnreports.com/reports/1318732-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-re-st-to-2025.html .

The report profiles the most promising players in the electric power steering market. The market presents an interesting picture of a large number of big and small players that have become a force to reckon. The key players in this market are Robert Bosch (Germany), Delphi (UK), Mitsubishi Electric (Japan), JTEKT (Japan), Nexteer (US), ZF TRW (Germany), ThyssenKrupp (Germany), NSK (Japan), Showa (Japan), Hyundai Mobis (South Korea), GKN (UK), and Federal-Mogul (US).

The electric power steering market for Asia Pacific is estimated to grow at the highest CAGR during the forecast period. High volume markets with increased demand for electronic and fuel efficient systems in passenger cars market Asia Pacific the largest and fastest growing market for electric power steering. Also, the existing and upcoming vehicle emission regulations in developing countries will further drive the market growth in the region.

Inquire for DISCOUNT 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" research report at http://www.reportsnreports.com/contacts/discount.aspx?name=1318732 .

The column assist EPS (CEPS) holds the largest global electric power steering market share in 2017. Column Assist EPS (CEPS) has proved to be the perfect solution for compact vehicles that have lesser space in the engine room because the power assist unit is located in the cabin. This system integrates the system electronics (motor, controller, and sensor) and the assist mechanism with the steering column. Around 60% of vehicles that have an EPS system feature CEPS steering systems. However, the introduction of steer-by-wire (SBW) technology can hinder the growth of this market as this technology is said to hit the passenger cars first and replace EPS systems to a major extent in the near future.

The Electric Power Steering Market for hybrid electric vehicles (HEV) is estimated to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the engine structure of the vehicle, which combines a conventional internal combustion engine (ICE) system with an electric propulsion system. Due to the presence of IC engine, which has the maximum installation rate of electric power steering systems, this segment of electric vehicles is estimated to experience the highest growth rate during the forecast period. Also, the increasing sales of HEVs in the Asia Pacific region are driving the growth of electric power steering systems in these vehicles.

The report provides a comprehensive review of electric power steering market drivers, restraints, opportunities, and challenges in the global electric power steering market. Apart from analyzing the quantitative aspects, the report also covers qualitative aspects such as macroeconomic analysis for the global electric power steering market.

Order a copy of "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" research report at http://www.reportsnreports.com/purchase.aspx?name=1318732 .

The report segments the electric power steering market and forecasts its size, by volume and value, on the basis of region (Asia-Pacific, Europe, North America, and RoW), component (steering wheel, steering column, sensors, steering gear, mechanical rack and pinion, electronic control unit, electric motor, and bearings), electric motor (brush and brushless), application (passenger cars and commercial vehicles), electric vehicle type (BEV, HEV, and PHEV), off-highway (construction equipment and agricultural equipment), type (REPS, CEPS, and PEPS), and mechanism (rigid and collapsible).

The electric power steering market study contains insights of various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:

• By Company Type: Tier 1 - 50%, Tier 2 - 33%, Others - 17%
• By Designation: C level - 45%, D level - 35%, Others - 20%
• By Region: Europe - 45%, Asia-Pacific - 20%, North America - 22%, Rest of the World - 13%

Another research titled Automotive Chassis Market Global Forecast to 2025 says, the automotive chassis market is estimated to be $50.78 billion in 2017 and is projected to reach $78.44 billion by 2025, growing at a CAGR of 5.59%. Skateboard chassis: Key chassis type to be used in electric vehicles. Monocoque chassis to have fastest growth in Passenger cars segment. Passenger cars segment to have the largest share in automotive chassis market, by vehicle type. Companies such as Continental (Germany), ZF (Germany), Magna (Canada), Aisin Seiki (Japan), Tower International (US), Benteler (Germany), CIE Automotive (Spain), Schaeffler (Germany), F-Tech (Japan), KLT Auto (India), Hyundai Mobis (South Korea), Alois Kober (Germany) have been profiled in this 174 pages research report available at http://www.reportsnreports.com/purchase.aspx?name=1282922 .

Explore more reports on Automotive Market at http://www.reportsnreports.com/market-research/automotive/ .

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