An automotive electric power steering assists the drivers to steer the automobile by augmenting the torque needed to turn the wheel by using electrical power. Automotive electric power steering makes it more accessible, with lesser physical efforts and comfortable for the driver to turn the steering wheels.

The global automotive power steering market gain 6% CAGR during the forecast period (2018-2023).

Competitive Insight

Several players impacting the Automotive Electric Power Steering Industry are KSR International Company (Canada), Mando Corporation (South Korea), Hyundai Mobis (South Korea), Mitsubishi Electric Corporation Sona Koyo Steering Systems Ltd. (India), (Japan), Delphi Automotive (U.K), JTEKT Corporation (Japan), Hitachi Automotive Systems Ltd. (U.S.), (Japan), Nexteer Automotive (U.S.), Showa Corporation NSK Ltd. (Japan), Robert Bosch GmbH (Germany), Federal-Mogul (U.S.), TRW Automotive (U.S.), and ThyssenKrupp AG (Germany), and others.

Segmental Analysis

Type, component, mechanism, vehicle type, and fuel are the segments that MRFR uses for a better analysis of the Automotive Electric Power Steering Industry. This reveals information based on volume and value for a holistic understanding of the global market

Based on the type, the Automotive Electric Power Steering Industry comprises rack assist type, pinion-assist type, and column assist type. The column assist type is the most-used segment as it can save crucial space in compact cars.

Based on the component, the Automotive Electric Power Steering Industry includes steering gear, mechanical rack & pinion, steering wheel, bearing, and steering column.

By mechanism, the Automotive Electric Power Steering Industry includes collapsible and rigid. The collapsible variety has a wider market reach than others.

By fuel-used, the Automotive Electric Power Steering Industry includes battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), petrol, diesel, and hybrid electric vehicle (HEV). Petrol and diesel-powered cars are now mostly adopting electric power steering technology. The electric car works well with such steering.

Regional Analysis:

North America, Asia Pacific (APAC), Europe, and Rest-of-the-World (RoW) are regions in consideration for a better understanding of the global Automotive Electric Power Steering Industry.

North America is doing good in the market owing to its huge market taking on innovations and implementing them with substantial ease. The market’s growth is depending mostly on the revamping of the automotive sector. At the same time, higher integration of electric cars is spurring the regional market growth.

Access Full Report @ [FURL=https://www.marketresearchfuture.com/]https://www.marketresearchfuture.com/reports/automotive-electric-power-steering-market-5743[/FURL]