Global Light Vehicle EPS Market Growth 2024-2030

Global Light Vehicle EPS Market Growth 2024-2030

According to our LPI (LP Information) latest study, the global Light Vehicle EPS market size was valued at US$ 15820 million in 2023. With growing demand in downstream market, the Light Vehicle EPS is forecast to a readjusted size of US$ 18790 million by 2030 with a CAGR of 2.5% during review period.

The research report highlights the growth potential of the global Light Vehicle EPS market. Light Vehicle EPS 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 Light Vehicle EPS. 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 Light Vehicle EPS market.

The electric power steering is developed on the basis of the traditional mechanical steering system. It uses the power generated by the electric motor to help the driver perform steering operations. The system is mainly composed of three parts: signal sensing device (including torque sensor, steering wheel angle sensor and vehicle speed sensor), electronic control unit and steering assist mechanism (motor, clutch, reduction gear mechanism, etc.).

The light vehicle electric power steering system market refers to the market for products and solutions that provide electric power steering functions for light vehicles (such as small passenger cars, minivans, etc.). With the increasing requirements for environmental protection and energy conservation, as well as the rapid growth of personal travel and urban transportation, the light vehicle electric power steering system market is showing a good development trend.

Key Features:

The report on Light Vehicle EPS 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 Light Vehicle EPS 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 Light Vehicle EPS 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 Light Vehicle EPS 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 Light Vehicle EPS industry. This include advancements in Light Vehicle EPS technology, Light Vehicle EPS new entrants, Light Vehicle EPS new investment, and other innovations that are shaping the future of Light Vehicle EPS.

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

Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Light Vehicle EPS market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Light Vehicle EPS 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 Light Vehicle EPS market.

Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Light Vehicle EPS 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 Light Vehicle EPS market.

Market Segmentation:

Light Vehicle EPS 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
Mobis
Thyssenkrupp
Mando

Key Questions Addressed in this Report

What is the 10-year outlook for the global Light Vehicle EPS market?

What factors are driving Light Vehicle EPS market growth, globally and by region?

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

How do Light Vehicle EPS market opportunities vary by end market size?

How does Light Vehicle EPS break out type, application?

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