Market Highlights: Electric Power Steering (EPS). It is uses an electric motor to support the driver of a automobile, unlike traditional systems that act on hydraulic pressure provided via a pump driven by the vehicle's engine. EPS removes the necessity for a power steering pump, hoses, hydraulic fluids and a drive belt and pulley on the engine. There are three type of electric power steering such as rack assist type (REPS), Colum assist type (CEPS) and pinion assist type (PEPS). The market study is being classified by Type (Rack assist type (REPS), Colum assist type (CEPS) and Pinion assist type (PEPS)), by Application (Passenger Cars, LCV, Heavy Vehicles and Others) and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Key Players: The prominent players in the Electric Power Steering are Robert Bosch (Germany), Delphi (United Kingdom), Mitsubishi Electric (Japan), JTEKT (Japan), Nexteer (United States), ZF TRW (Germany), ThyssenKrupp (Germany), NSK (Japan), Showa (Japan) and Hyundai Mobis (South Korea).
Major Market Development Highlights On 26th July 2018, Hyundai Mobis (Global leading South Korean vehicles Parts Company) has developed Dual-Mode Electronic Steering System which can be used for Autonomous Driving. On 6th August 2018, Mitsubishi Electric Corporation has acquired ASTES4 SA (ASTES4), a company based in Switzerland that is engaged in development production and sales of patented automated sorting solutions for sheet metal laser processing machines.
Key Questions Answered in the Report What will the Electric Power Steering Market size and the growth rate be in Future? What are the key factors driving the Electric Power Steering Market? What are the key market trends and macro-economic impacting the growth of the Electric Power Steering Market? What are the challenges to market growth? Who are the key vendors in the Electric Power Steering Market? What are the market opportunities and threats faced by the vendors in the Electric Power Steering Market? Trending factors influencing the market shares of the Manufacturers. What are the key outcomes of the five forces analysis of the Electric Power Steering Market?
Research Methodology: The top-down and bottom-up approaches are used to estimate and validate the size of the Global Electric Power Steering market. In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Electric Power Steering market. In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc. Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers of Electric Power Steering, Raw Material Suppliers for Electric Power Steering, Traders, Distributors and Suppliers of Electric Power Steering, Government Regulatory Bodies, Government and Private Research Organization and Others. This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth etc. Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.