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Asia Pacific Electric Power Steering Market

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pallavi narwade
Asia Pacific Electric Power Steering Market

Asia Pacific Electric Power Steering Market size was valued US$ 23.62 Bn in 2017 and is expected to grow 42.1 Bn in 2026 at a CAGR of 6.27% over the forecast period. Asia Pacific Electric power steering market

 

Asia Pacific Electric Power Steering Market is segmented by type, by vehicle type, by application, and by country. Based on type market is divided into REPS (Rack assist type), CEPS (Colum assist type), PEPS (Pinion assist type). An application is split into passenger car & commercial car. Vehicle type is classified into BEV, PHEV & HEV. Country wise electric power steering market is segmented into Asia Pacific, China, Japan, India, South Korea, Australia, New Zealand, rest of the Asia Pacific.

 

Electronic power steering market is firstly dependent on the automobile manufacturing sector. Further, research and development activities by various automotive firms are one of the driving factors of the Asia Pacific electronic power steering market. Developments of the sophisticated and robust steering mechanism are estimated to fuel up the Asia Pacific electronic power steering market.

 

Drivers and Restraints:

Asia Pacific electric power steering market has, regulatory push towards efficient technologies. Global measures by OEMs to decrease the complexity and weight of vehicles and growing the vehicle production that has a driver of Asia Pacific electric power steering market. Also has restrained which are, the high cost of EPS as compared to traditional steering systems. Lack of the steering feel.

Challenges:

 

Maintaining electronic power steering market against steer-by-wire technology and autonomous vehicles without steering wheels this is the challenges over the Asia Pacific electric power steering market.

CEPS is dominating the electric power steering market. Column Assist EPS (CEPS) has proved to be the perfect solution for compact vehicles that include lesser space in the engine room as the power help unit is located in the cabin. This system integrates the system electronics (motor, controller, and sensor) and the help mechanism with the steering column. Nearby 60% of vehicles that have an EPS system feature CEPS steering systems.

 

Electric power steering market for hybrid electric vehicles (HEV) is estimated to grow at the highest CAGR during the forecast period. The growth of HEV segment can be attributed to the engine structure of the vehicle, which merge a conventional internal combustion engine (ICE) system with an electric propulsion system. Also, the growing sales of HEVs in the Asia Pacific region are driving the growth of electric power steering systems in these vehicles.

 

Key players operate on the market are, Mando Corporation (South Korea), Robert Bosch GmbH (Germany), Mitsubishi Electric Corporation (Japan), Showa Corporation (Japan), JTEKT Corporation (Japan), Sona Koyo Steering Systems Ltd. (India), Hyundai Mobis (South Korea), NSK Ltd. (Japan), and Thyssenkrupp AG (Germany).

For more information visit https://www.maximizemarketresearch.com/market-report/asia-pacific-electric-power-steering-market/19836/

The scope of the Asia Pacific Electric power steering Market

 

Asia Pacific Electric power steering Market, by Type

 

  • REPS
  • CEPS
  • PEPS

Asia Pacific Electric power steering Market, by Application

 

  • Passenger car
  • Commercial car

Asia Pacific Electric power steering Market, by Electric vehicle

 

  • BEV
  • PHEV
  • HEV

Asia Pacific Electric power steering Market, By Country

 

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • New Zealand
  • Rest of Asia Pacific

Key players operating on the Asia Pacific Electric power steering Market are

 

  • Mando Corporation (South Korea)
  • Robert Bosch GmbH (Germany)
  • Mitsubishi Electric Corporation (Japan)
  • Showa Corporation (Japan)
  • JTEKT Corporation (Japan)
  • Sona Koyo Steering Systems Ltd. (India)
  • Hyundai Mobis (South Korea)
  • NSK Ltd. (Japan)
  • Thyssenkrupp AG (Germany).

 

This Report Is Submitted By @Maximize Market Research Company

Customization of the report:

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About Maximize Market Research:

Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.

 

Contact Us:

Name: Luxmankant Godage

Organization: MAXIMIZE MARKET RESEARCH

Email: [email protected]

Contact: +91 9607365656

 

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