The
Global Passenger
Car EPS Market is anticipated to
display a huge growth in the near future owing to burgeoning applications and
widening up of scope across the globe. Passenger Car EPS has come into view as
one of the novel technologies in the Automobile domain. Passenger Car EPS is also
popularly known as Passenger Car Electric Power Steering (EPS). A wide range of
benefits are associated with the employment of this technology. It aids in
averting wheel from relocating the load to steering column. In addition, it
cuts down the rate of emission owing to vehicle fuel competence and offers
proper safety as well as command over steering. When compared with the
conventional steering system, it has proved its efficiency not only by
enriching the driving experience for the car drivers but also by surging the
level of fuel efficacy.
The
market is lately undergoing significant trends of introduction of brushless
motor technology as well as advancement of light weight electric power steering
that is eventually giving rise to novel opportunities in the market. It is
significant that most of the car manufacturers have initiated providing EPS
technology in their passenger cars. Moreover, there have been consistent
updates made by the companies as far as the vehicle safety customs are
concerned that is ultimately enforcing the manufacturers to expand their
production. Passenger Car EPS market is gaining huge popularity across the
globe due to rising applications across automotive sector.
The
factors that are playing a key role as major boosters to the Passenger Car EPS
market growth may entail robust industrialization, urbanization, technological
advancements, robust growth of automotive sector, rising demands among the
customers, developing regions, presence of leading automobile companies, and
rising cut throat competition from other developing countries.
The
only factor that is acting as a major hurdle in the overall Passenger Car EPS
industry growth may include soaring costs as compared to the conventional
hydraulic steering system. This market is segmented by type as R-EPS, C-EPS,
P-EPS, and others. Passenger Car EPS Industry is segregated by application as
SUV, Sedan & Hatchback, and others. The market is divided by geography as
North America, Europe, China, Japan, Southeast Asia, and India.
Market segment:
Geographically, this report is segmented
into several key Regions, with production, consumption, revenue (million USD),
market share and growth rate of Passenger Car EPS in these regions, from 2012
to 2022 (forecast), covering
•
United States
•
EU
•
China
•
Japan
•
South Korea
•
India
Global Passenger Car EPS market
competition by top manufacturers, with production, price, revenue (value) and
market share for each manufacturer; the top players including
•
JTEKT
•
Bosch
•
NSK
•
Nexteer
•
ZF
•
Mobis
•
Showa
•
Thyssenkrupp
Geographically,
the Passenger Car EPS Market is witnessing a significant growth in the North
American market and the region is at the same time registering for the largest
share in the market. The factors that can be attributed to the market growth
may include rising demands, developing regions, rising prerequisites, and
augmentation in the demands among the end users.
On
the contrary, it has been noticed that Europe and Asia Pacific are also
emerging as one of the promising regions in the Passenger Car EPS market owing
to rising disposable income, developing regions, and rising market growth
opportunities in these regions. The prominent players contributing in the
development of the Passenger Car EPS Industry are recognized as Bosch, NSK,
JTEKT, Nexteer, Thyssenkrupp, Mando, ZF, Mobis, and Showa.
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