Code: IMR0533 | Automotive &Transportation | Oct-2021 | 185 Pages |
In
2021, the Global Electronic Power Steering (EPS) Market’s size was valued at
USD 54.6 billion and is estimated to reach USD 60.9 billionby 2028 and is
expected to be growing at a CAGR of 3.9 % throughout the forecast period. In
this report, 2021 has been taken as the base year while 2020 is the historical
year. The forecast year for the report is 2028 to approximate the size of the
market for Electronic Power Steering (EPS).
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Market Research’s report on Electronic Power Steering (EPS) studies the past
and current opportunities of growth and trends to get a clear picture of the
growth indicators of the market for the forecast period 2021 to 2028. The
report also offers the revenue generated by the Electronic Power Steering (EPS)
market considering 2020 as the historical year, 2021 as the base year, and 2028
as the forecast year. The report also consists of the compound annual growth
rate (CAGR) for the Electronic Power Steering (EPS) market over the forecast
period.
Report Overview of Electronic Power Steering (EPS)
Market
The Electronic Power Steering (EPS)
market report provides information and statistics on market shares, size,
restraining factors, and driving factors for the forecast period 2021 to 2028.
It also mentions the role of main market players in the automotive industry.
The report on Electronic Power Steering (EPS) market evaluates the value of the
market report, keeping in mind the application and regional segments, market
share, and size while forecasting the market for each product type and
application of the Electronic Power Steering (EPS) market in different segments
of the report. The research report also mentions some sections of the Electronic
Power Steering (EPS) market including opportunities, growth, trend, size,
demand, and technology used by prominent players of the market. Then, it gives
detailed profiles of the key players as a part of the competitive landscape of
the Electronic Power Steering (EPS) market.
The
study of the report divides it into several sub-segments and represents the
whole automotive industry. An estimation of the revenue generated by the entire
automotive industry and its sub-segments are also provided in the report. It
decides the factors that affect the demand of the automotive industry rapidly,
including methods of development, growth networks, and the product model. The
report also points out the greatest prospects for the growth of the automotive
market such as forecasting the growth of the market, the launch of new goods,
and analysis of the product demand, purchase decisions, several economic
factors that are important to determine the trend of Electronic Power Steering
(EPS) market, and the attractiveness of the market. The report on the Electronic
Power Steering (EPS) market will help in assisting the stakeholders in
identifying high-potential customers, such as distributors and manufacturers.
Methodology of Electronic Power Steering (EPS) Market
The
methods used for collecting information for the report involve 4 main
activities. These activities help in estimating the current size of the Electronic
Power Steering (EPS) market. Thorough secondary research was conducted to
collect information on the Electronic Power Steering (EPS) market, such as new
technologies coming into the market, and components connected with this market.
Then the collected information was validated with experts from the automotive
industry across all the value chains through primary researches. Both top-down
and bottom-up approaches were used for estimating the market size.
The
secondary research includes collecting data from sources such as government
publications such as country-level automotive associations and organizations, World
Bank, Eurostat, Organization for Economic Co-operation and Development (OECD),
and CDC; regulatory and corporate filings such as SEC filings, annual reports,
investor presentations, and business magazines, financial statements, press
releases, and research journals, free and paid automotive databases such as
Organization International des Constructer’s d’Automobiles (OICA), Marlines,
etc., and trade, business, and professional associations. The secondary data
collected was then analyzed to predict the overall size of the market which was
later validated with primary research.
Thorough
primary research was done after getting a clear picture of the Electronic Power
Steering (EPS) market through secondary research. Many market experts were
interviewed for the primary research from both the supply-side players and
demand-side players and across four major regions, namely, Europe, North
America, Asia Oceania, and the Rest of the World. Apart from the interviews,
primary data was collected through mails, questionnaires, and telephonic
interviews.
Growth Mapping of Electronic Power Steering (EPS)
Market
The
main aim of the Electronic Power Steering (EPS) report is to give the map of
the growth for the Electronic Power Steering (EPS) market that will help in
providing the clients with the required information for the formulation
strategies to meet their respective business goals. The report also provides
deep knowledge of the Electronic Power Steering (EPS) for the previous year as
well as for the forecast years and what the CAGR level of the market is going
to be. This report is a synopsis of what the market conditions are going to be
while also giving information regarding the market’s definition,
classifications, applications, and engagements are. This report also aims to
analyze the Electronic Power Steering (EPS) market’s developments including the
market improvement, market position, and others which are usually done by the
prominent players and brands of the automotive industry. This report also
consists of all the market drivers and restraints which are obtained through
SWOT analysis. The report also has the CAGR values of the Electronic Power
Steering (EPS) market for the base years 2021, the historic year 2020, and
forecast years 2021-2028.
Regional Analysis of Electronic Power Steering (EPS)
Market
The Electronic Power Steering (EPS) market report provides a study for more than 20 countries and their market players The report covers a regional and country-level analysis that covers North America, South America, Europe, Asia Pacific (APAC), Africa, and the Middle East. The market is deeply analyzed for each region, which helps in identifying the market trends for each region, growth opportunities, and restraining factors.
For
the forecast year 2021-2028, it has been estimated that North America will the
dominating market for Electronic Power Steering (EPS). This region is expected to see growth in the
automotive industry because of the increasing population, increase in per
capita income, and improvement in living standards. There has been an increase
in demand for comfort features in vehicles and fuel-efficient vehicles which
accelerates the growth of the Electronic Power Steering (EPS) market. The
weight reduction of vehicles and enhanced energy efficiency is further driving
the automotive industry. The other factors which are driving the growth
of the Electronic Power Steering (EPS) market include the development of
marketing analytics tools and firmly established existing players in the
market. In addition to this, government agencies, companies, third-party
administrators, etc. are channelizing their efforts to make customer-centric
automotive products which will also contribute to the growth of the Electronic
Power Steering (EPS) market in this region. Rising demand for vehicles and
their parts, increased investment by the government, new and advanced
technology, and machinery, along with the improved marketing tactics will
likely cause the Electronic Power Steering (EPS) market to grow substantially.
The Asia Pacific market is estimated to
grow at the highest CAGR during the forecast period (2021-2028). This growth is
driven by the increasing research activities, growing demand for vehicles and
parts, and an increasing number of initiatives by market players for expanding
their presence in the APAC, and higher adoption of Electronic Power Steering
(EPS) in several APAC countries. Improvements in GDP per capita and
infrastructure development have urbanized the region to a greater extent
turning rural areas into urban areas. The sudden surge in the demand has caused
the cities to fall into unsustainable consumption models. The top key players
in the Electronic Power Steering (EPS) market are located in the region. China and India are expected to
offer significant growth opportunities for players operating in the Electronic
Power Steering (EPS) market, owing to the growing support from government bodies,
increasing demand for new vehicles with special features, and the presence of
less-stringent regulations and data requirements (as compared to developed
countries) in their respective healthcare systems.
Competitive Landscape of Electronic Power Steering (EPS)
Market
The
report provides a competitive landscape on both the quantitative as well as
qualitative research of Electronic Power Steering (EPS) market. The report also
provides detailed insights on the development methods used by the key market
players. The report offers deep research on the key market players and details
on the competitiveness of these players. The main business strategies used by
these players such as mergers and acquisitions (M&A), collaborations,
affiliations, and contracts are also and analyzed in the report. For each competitor,
the report studies their global presence, service offerings, competitors, and
specification. The main players covered by the study on the global Electronic
Power Steering (EPS) market are: Hyundai Mobis, JTEKT Corporation, Mitsubishi Electric
Corporation, Nexteer Automotive, NSK Ltd., Robert Bosch GmbH, Showa Corporation,
The Mando Corporation, ThyssenKrupp AG, ZF Friedrichshafen AG.
The Report Provides Insights on The
Following Pointers:
● It gives a forecast analysis of factors
that are driving or restraining the development of the Electronic Power
Steering (EPS) market.
● The report gives a seven-year forecast
value evaluated on the basis of the current market performance of the
automotive industry.
● It helps in understanding the main
segments of the products and their future.
● The report gives a deep analysis of
changing competition in the market which keeps you ahead of your competitors.
● The
report gives the market definition of the Electronic Power Steering (EPS)
market along with the analysis of different factors influencing the market such
as drivers, opportunities, and restraints.
The Report Answers Questions Such As:
● What
is the potential opportunity for the Electronic Power Steering (EPS) market?
● What
are the major drivers, restraints, and opportunities of the Electronic Power
Steering (EPS) market?
● What
is the market share of the leading segments and sub-segments of the Electronic
Power Steering (EPS) market in the forecast period (2021-2028)?
● How
did the Electronic Power Steering (EPS) market evolve?
● How
each segment of the Electronic Power Steering (EPS) market is expected to grow
during the forecast period?
● What
is the expected revenue to be generated by each of the segments by the end of
2028?
● What
are the key development strategies implemented by the key players to stand out
in this Electronic Power Steering (EPS) market?
● What
is the preferred business model used for building Electronic Power Steering
(EPS)?
● Which
area of application is expected to be the highest revenue generator in the Electronic
Power Steering (EPS) market during the forecast period?
● Which
end-user segment is expected to be the highest revenue generator in this
industry during the forecast period?
● What
is the potential of Electronic Power Steering (EPS) market in the emerging
countries during the forecast period?
Hyundai Mobis
JTEKT Corporation
Mitsubishi Electric Corporation
Nexteer Automotive
NSK Ltd.
Robert Bosch GmbH
Showa Corporation
The Mando Corporation
ThyssenKrupp AG
ZF Friedrichshafen AG