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 automotive electric power steering 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. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of the automotive electric power steering market report, download the report brochure.
The study includes automotive electric power steering market size and forecast for the growth opportunities in the global automotive electric power steering market through 2021 segmented by product type, vehicle type and region, as follows:
Automotive electric power steering companies profiled in this market includes 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.
Some of the features of “Global Automotive Electric Power Steering Market 2016-2021: Trends, Forecast, and Opportunity Analysis” include:
Market size estimates: Growth opportunities in the global automotive electric power steering market in terms of value ($M) and volume (Million Units) shipment
Trend and forecast analysis: Global automotive electric power steering market trend (2010-2015) and forecast (2016-2021) by region and segment
Segmentation analysis: Global automotive electric power steering market size from 2010 to 2021 by component type, product type, and vehicle type
Regional analysis: Global automotive electric power steering market breakdown by key regions of North America, Europe, Asia Pacific and the Rest of the World
Growth opportunities: Analysis of growth opportunities in different component, product, and vehicle, and regions of automotive electric power steering market.
Strategic analysis: This includes M&A, new product development, competitive landscape, and expansion strategies of global automotive electric power steering suppliers.
Emerging applications: Emerging applications of automotive electric power steering in the global automotive electric power steering market.
Analysis of the competitive intensity of the industry based on Porter’s Five Forces model.
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 the automotive electric power steering 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 automotive electric power steering market?
Q.8. What are the new developments in the market? Which automotive electric power steering companies are leading these developments?
Q.9. Who are the major automotive electric power steering suppliers? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products of automotive electric power steering companies 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?