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In-depth Analysis of Automotive Electric Power Steering Market Industry Landscape
The column assist form of electric power steering is the most popular since it merges system electronics and aiding mechanism with the steering column, saving space in tiny automobiles. One component that affects steering wheel assembly performance is the electric motor. Better motor efficiency converts steering revolution into wheel movement with less effort. The collapsible kind is chosen because it reduces passenger injury risk.
Electric power steering is widely utilized in petrol and diesel autos. However, electric and hybrid cars adapt better to electric power steering technology due to its stronger integration with automobile functioning.Several market aspects shape the Automotive Electric Power Steering (EPS) industry. Increasing demand for fuel-efficient automobiles drives this industry. Due to their fuel economy effectiveness, electronic power steering systems have grown in popularity as the car industry becomes more environmentally friendly. Traditional hydraulic systems are replaced with EPS technology, decreasing vehicle weight and improving fuel efficiency.
As vehicles electrify, the Automotive EPS market is also affected. The growth of electric cars and hybrid electric vehicles has increased demand for improved power steering systems that meet electric drivetrain needs. Electric power steering, which is more compatible with electric vehicles, is increasingly essential to the development of eco-friendly cars.
Another market aspect is car safety features becoming more important. Automotive EPS systems improve safety by improving control and reactivity. These systems can combine with ADAS to provide lane-keeping assistance and automatic parking. The automobile industry will certainly embrace EPS technology as safety becomes more important.
Additionally, the worldwide movement toward autonomous cars affects Automotive EPS. Advanced steering systems that interface with vehicle control systems are crucial for autonomous driving. Electronic power steering systems are ideal for autonomous driving due to their control and adjustability. Automotive and technology businesses are developing and testing autonomous vehicles, creating demand for advanced EPS solutions.
Finally, the Automotive Electric Power Steering market is affected by global sustainability and electrification, safety concerns, and economic conditions. A dynamic and sensitive sector within the automotive environment, the EPS market will continue to evolve alongside the automobile industry and technology."
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Type, Component, Mechanism, Fuel, Vehicle and RegionGeographies CoveredNorth America, Europe, Asia Pacific, and the Rest of the WorldCountries CoveredThe US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and BrazilKey Companies ProfiledDelphi Automotive (U.K), Mando Corporation (South Korea), Robert Bosch GmbH (Germany), KSR International Company (Canada), Mitsubishi Electric Corporation (Japan), Showa Corporation (Japan), JTEKT Corporation (Japan), Hitachi Automotive Systems Ltd. (U.S.), Sona Koyo Steering Systems Ltd. (India), Nexteer Automotive (U.S.), Federal-Mogul (U.S.), Hyundai Mobis (South Korea), NSK Ltd. (Japan), TRW Automotive (U.S.), and Thyssenkrupp AG (Germany)Key Market OpportunitiesCustomers over the world seek technically superior automobiles with high-end features, economical cost, and better safety optionsKey Market DynamicsAutomobile makers always try to manufacture cleaner, greener cars with a lesser carbon footprint, which can be achieved by incorporating this system Consumers desire more peaceful and comfortable driving experience, with a lesser driving effort Electric power steering mechanism aids the smooth movement of these self-driving automobiles |
Automotive Electric Power Steering Market Highlights:
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