Automotive Electric Power Steering Market Information by Type (Pinion, Rack, Column), Component (Bearing, Rack & Pinion, Electric Motor, Steering - Wheel, Gear, Column), Mechanism (Collapsible, Rigid), Fuel, Vehicle, and Region – Global Forecast to 2023.
The drag or thrust is still exerted on the engine but actually occurs only when the steering movement is performed, thereby improving the engine efficiency drastically.
Secondly, automobile makers always try to manufacture cleaner, greener cars with a lesser carbon footprint, which can be achieved by incorporating this system.
The global automotive electric power steering market is estimated to grow with a CAGR of approx.
On the basis of mechanism, the collapsible variety is more preferred, owing to reduced chances of serious injuries to passengers.
On the basis of fuel used, petrol and diesel-powered cars use electric power steering technology, extensively.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the power assisted steering market include JTEKT Corporation, SHOWA Corporation, Nexteer Automotive, NSK Steering Systems Co., Ltd., Mando Corp, ZF Friedrichshafen AG, and Robert Bosch GmbH.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Power Assisted Steering Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/assisted-steering-market/download-sampleMarket DynamicsThe key driving factors for power-assisted steering market growth are enhanced fuel efficiency, less CO2 emission, fewer moving parts, less complexity, and no fluid.
Moreover, manufacturers of power-assisted steering are continuously improving their steering systems for better operational efficiency.
Furthermore, an upsurge in vehicle production is also a major factor contributing to the power steering market.
However, the high cost of a power-assisted steering system in comparison to a conventional steering system and less steering feel may hamper the growth of the power-assisted steering market.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
The global Automotive Steering Column Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the automotive steering column market include Kongsberg Automotive, Continental AG, TRW Automotive, Schaeffler, NSK, JTEKET Corporation, Denso Corporation, Nexteer Automotive, ThyssenKrupp, and Coram Group.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Automotive Steering Column Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/automotive-steering-column-market/download-sampleMarket DynamicsSteering columns being a vital component of any automotive and rise in automotive production worldwide will be the primary stimulants for market growth.
The availability of steering columns with a unique modular design enables the driver's best-in-class ergonomic working conditions to be a market booster.
An increase in the rate of automotive accidents will favor the market's growth for the collapsible steering column, the latest trend in the steering column market in recent times.
The Vehicle Active Power Steering market is anticipated to register a notable CAGR of 12% over the forecast period of 2018-2023, affirms Market Research Future (MRFR) in its latest study.Rapidly growing transport and logistics are met with various safety challenges which require technical solutions.
Intensified focus on driver and road safety, increasing trading activities across borders, and remarkable growth of the logistics industry has been instrumental in shaping the growth of the commercial vehicle active power steering market.Hydraulic power steering system (HPS) are extensively used in medium commercial vehicles and heavy commercial vehicles.
However, electric power steering (EPS) and electrohydraulic power steering (EHPS) have gained traction in recent years.
Moreover, EPS uses electric power for steering instead of fuel which acts a s a major selling proposition.
Moreover, all commercial vehicles are subject to stringent regulations by various federal agencies to prevent commercial vehicle-related fatalities and injuries.
Such regulations spur the adoption of active power steering in commercial vehicles and boost the growth of the market.Competitive LandscapeAB Volvo (Sweden), Bosch (Germany), ZF Friedrichshafen AG (Germany), Knorr-Bremse (Germany), BMW AG (Germany), Tedrive steering systems GmbH (Germany), Daimler AG (Germany), and Ognibene Power SPA (Italy) are the notable players in the commercial vehicle active power steering market.Industry UpdatesApril 2019 - WABCO Holdings Inc., a provider of electronic braking, stability, suspension, and transmission automation systems for heavy-duty commercial vehicles, introduced its new integrated Active Lateral Safety technology suite.
