LONDON, Feb. 21, 2017 /PRNewswire/ -- ds, 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 $24.2 billion by 2021 and it is forecast to grow
at a CAGR of 6.6% from 2016 to 2021. The major drivers of growth
for this market are increasing vehicle production, increasing
demand for driving comfort and reliability, and reduction in fuel
consumption.
Emerging trends, which have a direct impact on the dynamics of the
industry, include the introduction of brushless motor technology
and the development of light weight electric power steering.
The study includes a forecast for the growth opportunities in
the global automotive electric power steering market by product
type, vehicle type and region, as follows:
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By component type ($ million 2015)
- Steering wheel
- Steering column
- Steering motor
- Torque sensor
- Others
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
- Sports/Unclassified
- Light Commercial Vehicle (LCV)
By region (Volume (Million Units) and $ million from 2010 to
2021)
- North America
- Europe
- Asia Pacific
- 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?
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