Title: Electric Power Steering Market - Forecast(2022 - 2027)
1Electric Power Steering MarketMarket size,
Industry outlook, Market Forecast, Demand
Analysis, Market Share, Market Report 2022-2027
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- Global Electric Power Steering Market is
estimated to reach 41.9 billion by 2026,
forecast to grow at a CAGR of 5.2 during
2021-2026. - Increasing adoption of Electric Power Steering
in passenger car as well as commercial vehicles
is one of the major driving factor that is
expected to drive the automotive Electric Power
Steering market during the forecast period. - Increase in the vehicle production, the electric
power steering market is getting momentum year on
year.
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- Key Takeaways
- Asia-Pacific region is estimated to drive the
electric power steering market growth during the
forecast period from 2020 to 2025, owing to the
growth of vehicle production, favorable
government regulation, vehicle emission, electric
vehicle penetration, growing disposable income
and among other factors. - Some of the advantages offered by the electric
power steering system offers better fuel
efficiency, there is no assistance require to
operate the power steering system manually.
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Market Segment Analysis - By Vehicle Type By
Vehicle type Electric Power Steering segment is
classified in to two different segment such as
Passenger Car and Commercial Vehicle. Passenger
Vehicles dominated the market with a share of 73
in 2020. The increasing adoption of passenger car
across the globe is estimated to drive the market
for a long term basis. In the current situation,
30 of the passenger cars are running and
integrated with EPS technology worldwide, and
this technology is likely to be implemented in
the budget passenger car as well during the
forecast period.
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- Electric Power Steering Market Industry Outlook
- Robert Bosch
- Hyundai Mobis
- Delphi Technology
- Thyssenkrupp
- GKN
- Mitsubish
- Federal Mogul
- NSK
- Electric
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Electric Power Steering Market - Forecast(2022 -
2027) Learn More About the Report
_at_ https//www.industryarc.com/Research/Electric-P
ower-Steering-Market-Research-501085
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- Analyst Briefing
- Data Tables
- Key Contacts
- Free Customization
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Reddy Contact (1) 970-236-3677 Email
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Contact (1) 970-236-3677
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