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The global Electric Power Steering Market Size segmentation segments the market into the component, fuel, mechanism, type, and vehicle type. The component-based segmentation segments this market into bearing, mechanical rack & pinion, steering column, steering gear, and steering wheel. Based on fuel, the market has been segmented into battery electric vehicle (BEV), diesel, hybrid electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV), and petrol. Vehicles powered by petrol and diesel mostly use electric power steering technology. The electric car offers better integration solution for such steering.
Regarding mechanism, the market has been segmented into collapsible and rigid. The collapsible variety has received more preference, due to the reduced chances of serious injuries to passengers. By type, the market has been segmented into passenger vehicle, heavy commercial vehicle (HCV), and light commercial vehicle (LCV).
In Europe, the market is strong due to the availability of the maximum variety of technologically superior cars and the presence of many key market players. In this region, the important country-specific markets are Germany and Spain. France and UK are two important economies in this region.
Key Players
The key players in the global Electric Power Steering Market Size include Delphi Automotive (UK), Federal-Mogul (USA), Hitachi Automotive Systems Ltd. (USA), Hyundai Mobis (South Korea), JTEKT Corporation (Japan), KSR International Company (Canada), Mando Corporation (South Korea), Mitsubishi Electric Corporation (Japan), Nexteer Automotive (USA), NSK Ltd. (Japan), Robert Bosch GmbH (Germany), Showa Corporation (Japan), Sona Koyo Steering Systems Ltd. (India), ThyssenKrupp AG (Germany), and TRW Automotive (USA).
Latest Industry News
China Automotive Systems Inc. (CAAS), a leading power steering components and systems supplier in China, signed an agreement with Hyoseong Electric Co. Ltd. for a joint venture. This venture aims to design, manufacture and sell electric motors for automotive electric power steering systems (EPS). 27 DEC 2018
2019 Toyota Camry Hybrid has been launched in India at a price of Rs 36.95 lakhs (the US $ 51,796.51). 18 JAN 2019
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