NEW YORK, Jan. 12, 2017 /PRNewswire/ -- Trends, opportunities and forecast in this market to 2021 by product type (column assist EPS, single-pinion assist EPS, dual-pinion assist EPS and rack assist EPS), vehicle type (small Car, mid-Size Car, luxury Car, sports/unclassified, and light commercial vehicle), by region (North America, Europe, Asia Pacific, Rest of the World)
The future of the global automotive electric power steering market looks good with opportunities in the segments of passenger car and commercial vehicle. The global automotive electric power steering market is expected to reach an estimated $24.2 billion by 2021 and it is forecast to grow at a CAGR of 6.6% from 2016 to 2021. The major drivers of growth for this market are increasing vehicle production, increasing demand for driving comfort and reliability, and reduction in fuel consumption.
Emerging trends, which have a direct impact on the dynamics of the industry, include the introduction of brushless motor technology and the development of light weight electric power steering.
A total of 92 figures / charts and 60 tables are provided in this 164-page report to help in your business decisions.
To learn the scope of, benefits, companies researched and other details of this report, ask for the report brochure.
The study includes a forecast for the growth opportunities in the global automotive electric power steering market by product type, vehicle type and region, as follows:
By component type ($ million 2015)
- Steering wheel
- Steering column
- Steering motor
- Torque sensor
By product type (Million Units from 2010 to 2021)
- Column Assist EPS
- Single-Pinion Assist EPS
- Dual-Pinion Assist EPS
- Rack Assist EPS
By vehicle type (Million Units from 2010 to 2021)
- Small Car
- Mid-Size Car
- Luxury Car
- Light Commercial Vehicle (LCV)
By region (Volume (Million Units) and $ million from 2010 to 2021)
- North America
- Rest of the World
JTEKT Corporations, Robert Bosch Automotive Steering GmbH, NSK Limited, Nexteer Automotive, and ZF TRW Automotive Holdings Corporation are the major EPS suppliers in the global automotive electric power steering market.
On the basis of its comprehensive research, Lucintel forecasts that the single-pinion assist EPS and rack assist EPS segments are expected to show above average growth during the forecast period.
Within the global automotive electric power steering market, the column assist EPS segment is expected to remain the largest market, as it is compact and easy to mount on the vehicle, and Increasing production of small and mid-size cars drive the demand for the column assist electric power steering , which would spur growth for this segment over the forecast period.
Asia Pacific is expected to remain the largest market due to high vehicle production, improvement in the economic conditions, and increasing investment by the industry players within the APAC region.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the automotive electric power steering market by product type (column assist EPS, single-pinion assist EPS, dual-pinion assist EPS and rack assist EPS), vehicle type (small Car, mid-Size Car, luxury Car, sports/unclassified, and light commercial vehicle), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers, challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M & A activity has occurred in the last 5 years and what is its impact on the industry?
Lucintel has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in this market
- Detailed secondary research from competitors' financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of Lucintel's professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted in the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts in the market. Some of the manufacturers in global automotive electric power steering market are JTEKT Corporation, Robert Bosch Automotive Steering GmbH, NSK Limited, Nexteer Automotive and others.
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