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Global Electric Power Assisted Steering Market Statistics, CAGR, Outlook, and Covid-19 Impact 2020-2026

According to Stratistics MRC, the Electric Power Assisted Steering Market accounted for $29.72 billion in 2015 and is expected to reach $69.82 billion by 2022 growing at a CAGR of 12.9% from 2015 to 2022. Technological advancements and improving fuel efficiency are the key factors driving the market growth. Low Penetration of Electric Power Steering (EPS) in Commercial Vehicles is one of the major trends in the market. Electric power steering segment commanded the largest market share in 2015. The hydraulic power steering is projected to decrease owing to the big space requisite as well as low fuel efficiency. Asia pacific is expected to witness highest growth on account of rising economies leading to a growing automotive market.

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Some of the key players in the market include Robert Bosch GmbH, FAW Koyo Steering Systems Co., Ltd., JTEKT Corporation, Delphi Automotive LLP, Sona Koyo Steering Systems, Zhejiang Fulin Guorun Auto Parts Co., Ltd., Hubei Tri-Ring Motor Steering Gear Co., Ltd., AVIC-Xihang Yubei Steering System Co., Ltd., Mitsubishi Electric Corporation, Hafei Industrial Group Automobile Redirector Obligate Co., Ltd., Anhui Finetech Machinery Co., Ltd, NSK Ltd., Guangzhou SHOWA Absorber Limited Company, Trelleborg, Federal Mogul Corporation, China Automotive Systems Inc., Jiangmen Xingjiang Steering Gear Co., Ltd., Tianjin Jinfeng Automobile Chassis Parts Co., Ltd., Mando Corporation, Hyundai Mobis Co., Ltd., Hitachi Automotive Systems, ZF Friedrichshafen AG and Showa Corporation.

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System Component Covered:
• Steering Gear
• Steering Angle Sensor
• Power Steering Control Unit
• Steering Wheel
• Steering Hoses
• Steering Moment Sensor
• Steering Motor
• Steering Column

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Steering Type Covered:
• Hydraulic Power Steering (HPS)
• Electric Powered Steering Systems
o Dual point pinion Electric Power Steering
o Column Drive Electric Power Assisted Steering (C-EPAS)
o Direct drive electric power steering
o Pinion drive Electric Power Assisted Steering (P-EPAS)
o Rack drive Electric Power Assisted Steering (R-EPAS)
• Electrically Powered Hydraulic Steering (EPHS)

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End Users Covered:
• Light Commercial Vehicle
• Passenger
• Sports Vehicles
• Commercial
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico

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