Cars with Electric Power Steering Market Share Overview

Automotive electric power steering is more efficient than the traditional engine driven pumps. Market Research Future (MRFR) has published a research report about the global Cars with Electric Power Steering Market Share that estimates increase at 6% CAGR (Compound Annual Growth Rate) for this market with a high rate between 2017 and 2023.

A pivotal factor driving the growth of the global Cars with Electric Power Steering Market Share is the growing demand for the technically superior automobiles with high-end features, better safety options, and economic cost. The second most important factor is attempts by automobile makers to try manufacturing eco-friendly cars with a lesser carbon footprint via automotive electric power steering system. The third factor supporting market growth is the demand for comfortable and user-friendly cars.

Competitive Insight

Several players impacting the Cars with Electric Power Steering Market Share are KSR International Company (Canada), Mando Corporation (South Korea), Hyundai Mobis (South Korea), Mitsubishi Electric Corporation Sona Koyo Steering Systems Ltd. (India), (Japan), Delphi Automotive (U.K), JTEKT Corporation (Japan), Hitachi Automotive Systems Ltd. (U.S.), (Japan), Nexteer Automotive (U.S.), Showa Corporation NSK Ltd. (Japan), Robert Bosch GmbH (Germany), Federal-Mogul (U.S.), TRW Automotive (U.S.), and ThyssenKrupp AG (Germany), and others.

Segmental Analysis

Type, component, mechanism, vehicle type, and fuel are the segments that MRFR uses for a better analysis of the Cars with Electric Power Steering Market Share. This reveals information based on volume and value for a holistic understanding of the global market

Based on the type, the Cars with Electric Power Steering Market Share comprises rack assist type, pinion-assist type, and column assist type. The column assist type is the most-used segment as it can save crucial space in compact cars.

Based on the component, the Cars with Electric Power Steering Market Share includes steering gear, mechanical rack & pinion, steering wheel, bearing, and steering column.

By mechanism, the Cars with Electric Power Steering Market Share includes collapsible and rigid. The collapsible variety has a wider market reach than others.

By fuel-used, the Cars with Electric Power Steering Market Share includes battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), petrol, diesel, and hybrid electric vehicle (HEV). Petrol and diesel-powered cars are now mostly adopting electric power steering technology. The electric car works well with such steering.  

Based on the vehicle type, the Cars with Electric Power Steering Market Share consists of Light Commercial Vehicle (LCV), passenger vehicle, and Heavy Commercial Vehicle (HCV).

Regional Analysis

North America, Asia Pacific (APAC), Europe, and Rest-of-the-World (RoW) are regions in consideration for a better understanding of the global Cars with Electric Power Steering Market Share.

North America is doing good in the market owing to its huge market taking on innovations and implementing them with substantial ease. The market’s growth is depending mostly on the revamping of the automotive sector. At the same time, higher integration of electric cars is spurring the regional market growth.

The APAC market is expecting substantial tailwind due to the advantages it is receiving in the garb of market behemoths opening plants in the region. In accordance, several manufacturing sites are operating in the region which is helping the market grow.

Access Full Report @ https://www.marketresearchfuture.com/reports/automotive-electric-power-steering-market-5743