Global Electric Power Steering Motor Market Growth 2023-2029

Global Electric Power Steering Motor Market Growth 2023-2029

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 vehicle to turn or maneuver. Electric power steering systems use electric motors to provide the assistance instead of hydraulic systems. As with hydraulic types, power to the actuator (motor, in this case) is controlled by the rest of the power steering system. Electric power steering motor is a key component for Electric power steering system (EPS).
LPI (LP Information)' newest research report, the “Electric Power Steering Motor Industry Forecast” looks at past sales and reviews total world Electric Power Steering Motor sales in 2022, providing a comprehensive analysis by region and market sector of projected Electric Power Steering Motor sales for 2023 through 2029. With Electric Power Steering Motor sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Electric Power Steering Motor industry.
This Insight Report provides a comprehensive analysis of the global Electric Power Steering Motor landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Electric Power Steering Motor portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Electric Power Steering Motor market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Electric Power Steering Motor and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Electric Power Steering Motor.
The global Electric Power Steering Motor market size is projected to grow from US$ 2371.6 million in 2022 to US$ 2757.7 million in 2029; it is expected to grow at a CAGR of 2757.7 from 2023 to 2029.
Global Electric Power Steering Motor key players include Nidec, Bosch, Mitsubishi Electric, etc. Global top 3 manufacturers hold a share over 65%.
Asia-Pacific is the largest market, with a share about 49%, followed by Americas, and Europe, both have a share about 48 percent.
In terms of product, CEPS Motor is the largest segment, with a share over 53%. And in terms of application, the largest application is Passenger Car.
This report presents a comprehensive overview, market shares, and growth opportunities of Electric Power Steering Motor market by product type, application, key manufacturers and key regions and countries.
Market Segmentation:
Segmentation by type
CEPS Motor
REPS Motor
PEPS Motor
EHPS Motor
Segmentation by application
Passenger Car
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.
Nidec
Bosch
Mitsubishi Electric
Denso
ZF
LG Innotek
Mitsuba
Mahle
Elite
Dare Auto
Key Questions Addressed in this Report
What is the 10-year outlook for the global Electric Power Steering Motor market?
What factors are driving Electric Power Steering Motor market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Electric Power Steering Motor market opportunities vary by end market size?
How does Electric Power Steering Motor break out type, application?
What are the influences of COVID-19 and Russia-Ukraine war?

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