DUBLIN, July 04, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Electric Power Steering Market 2017-2021" report to their offering.
The global electric power steering market to grow at a CAGR of 6.68% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global electric power steering market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of passenger cars and light commercial vehicles (LCVs). The report also includes a discussion of the key vendors operating in this market.
One trend in market is penetration of SBW technology. SBW technology helps to remove the physical connection between the steering wheel and the steering system with the help of electrically connected motors and helps to change the direction of the wheels. In SBW, the vehicle's computer gets the command from the connected device, and the computer sends the command to the wheels.
According to the report, one driver in market is increase in sales of passenger cars and SUVs. The sales of SUVs and crossovers increased by about 10% in the total passenger car market in the US in 2015. In the US, there is a growing preference for crossovers and SUVs for their increased fuel efficiency and comfort level in three-row seating arrangement. The structure of SUVs and crossovers look similar, but they are distinct in fuel efficiency and usability. Crossovers are more fuel efficient compared with SUVs, as they are built on car frames and are of considerably lightweight. Crossovers usually weigh lighter than SUVs as they are built on truck frames, which contributes to comparatively higher curb weight.
Further, the report states that one challenges in market is growing car-sharing services in China, India, and Brazil. Car sharing services are increasingly becoming popular in emerging countries like China, India, and Brazil due to reasons like increase in private car usage costs and cheaper than taxi rates. Since 2012, there has been a steady growth in the number of car-sharing operators, which has grown to 22 operators by mid-2015 from 9 operators in 2012.
- ZF Friedrichshafen
- Mitsubishi Electric
- TRW Automotive
Other prominent vendors
- ATS Automation Tooling Systems
- Delphi Automotive
- Hyundai Mobis
- Robert Bosch
- Thyssenkrupp Presta AG
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by product
Part 07: Geographical segmentation
Part 08: Key leading countries
Part 09: Market drivers
Part 10: Impact of drivers
Part 11: Market challenges
Part 12: Impact of drivers and challenges
Part 13: Market trends
For more information about this report visit https://www.researchandmarkets.com/research/2d9rp6/global_electric
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SOURCE Research and Markets