Global Car Electric Power Steering Market Growth 2024-2030

Global Car Electric Power Steering Market Growth 2024-2030

According to our LPI (LP Information) latest study, the global Car Electric Power Steering market size was valued at US$ 16260 million in 2023. With growing demand in downstream market, the Car Electric Power Steering is forecast to a readjusted size of US$ 19730 million by 2030 with a CAGR of 2.8% during review period.

The research report highlights the growth potential of the global Car Electric Power Steering market. Car Electric Power Steering are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Car Electric Power Steering. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Car Electric Power Steering market.

In motor vehicles, a power steering system helps drivers steer the vehicle by augmenting steering effort needed to turn the steering wheel, making it easier for the driver to turn.

Electric Power Steering System (EPS) report published by QYResearch reveals that COVID-19 and Russia-Ukraine War impacted the market dually in 2022. Global Electric Power Steering System (EPS) market is projected to reach US$ 20380 million in 2029, increasing from US$ 16620 million in 2022, with the CAGR of 2.7% during the period of 2023 to 2029. Demand from Passenger Car and Commercial Vehicle are the major drivers for the industry.

Key Features:

The report on Car Electric Power Steering market reflects various aspects and provide valuable insights into the industry.

Market Size and Growth: The research report provide an overview of the current size and growth of the Car Electric Power Steering market. It may include historical data, market segmentation by Type (e.g., C-EPS, P-EPS), and regional breakdowns.

Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Car Electric Power Steering market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.

Competitive Landscape: The research report provides analysis of the competitive landscape within the Car Electric Power Steering market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.

Technological Developments: The research report can delve into the latest technological developments in the Car Electric Power Steering industry. This include advancements in Car Electric Power Steering technology, Car Electric Power Steering new entrants, Car Electric Power Steering new investment, and other innovations that are shaping the future of Car Electric Power Steering.

Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Car Electric Power Steering market. It includes factors influencing customer ' purchasing decisions, preferences for Car Electric Power Steering product.

Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Car Electric Power Steering market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Car Electric Power Steering market. The report also evaluates the effectiveness of these policies in driving market growth.

Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Car Electric Power Steering market.

Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Car Electric Power Steering industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.

Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Car Electric Power Steering market.

Market Segmentation:

Car Electric Power Steering market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Segmentation by type
C-EPS
P-EPS
R-EPS

Segmentation by application
Passenger Vehicle
Commercial Vehicle

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
JTEKT
Bosch
Nexteer
ZF
NSK
Hitachi Astemo (Showa)
Hyundai Mobis
Thyssenkrupp
Mando
CAAS
Zhuzhou Elite
Yubei
Zhejiang Shibao

Key Questions Addressed in this Report

What is the 10-year outlook for the global Car Electric Power Steering market?

What factors are driving Car Electric Power Steering market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Car Electric Power Steering market opportunities vary by end market size?

How does Car Electric Power Steering break out type, application?

Please note: The report will take approximately 2 business days to prepare and deliver.