Electric Power Steering Market is expected to witness Incredible Growth during 2021-2031 | JTEKT Corporation, DENSO Corporation, Sona Koyo Steering Systems Ltd.

New York, 2022-Jul-14 — /EPR Network/ — Global Electric Power Steering Market report from Global Insight Services is the single authoritative source of intelligence on Electric Power Steering Market The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Electric power steering (EPS) is a system that uses an electric motor to assist the driver of a vehicle in steering. The electric motor is connected to the steering column and provides additional torque to the steering system. This additional torque makes it easier for the driver to turn the steering wheel and helps to reduce the effort required to steer the vehicle. EPS is a relatively new technology that is slowly becoming more common in new vehicles.

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Key Trends

There are a few key trends in electric power steering technology. One is the move away from hydraulic power steering systems to electric. This is being driven by the need for improved fuel economy and emissions reduction. Electric power steering is more efficient than hydraulic power steering and doesn’t require the engine to be running to provide power assist. This can lead to fuel savings of up to 5%. Another trend is the move to electric steering motors that are integrated into the steering column.

Key Drivers

There are several key drivers of the electric power steering market. Firstly, electric power steering systems are more efficient than hydraulic power steering systems, as they do not require a pump to operate. This results in reduced fuel consumption and emissions, as well as reduced engine noise. Secondly, electric power steering systems provide a more comfortable and responsive steering experience for drivers. This is due to the fact that they can be adjusted to provide different levels of assistance, depending on the driver’s needs.

Market Segments

By Component

  • Steering column
  • Sensors
  • Steering gear
  • Mechanical rack and pinion
  • Electronic control unit
  • Electric motor
  • Bearing

By Application

  • Passenger Cars (PC)
  • Commercial Vehicles (CV)

By Region

  • North America
    • U.S.
    • Canada

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Key Players

  • JTEKT Corporation
  • DENSO Corporation
  • Sona Koyo Steering Systems Ltd.
  • ZF Friedrichshafen AG
  • GKN plc.
  • Robert Bosch GmbH
  • NSK Ltd.
  • Mitsubishi Electric Corporation

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