- The key vendors in the Global Electric Power Steering Market 2015-2019 are JTEKT Corp., Mitsubishi Electric Corp., Nexteer Automotive, NSK Ltd. and TRW Automotive Holdings Corp.
London, 17 February 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Electric Power Steering Market 2015-2019. Emerging economies such as China, Brazil, and India are experiencing rapid expansion and growth in terms of economy and infrastructure. These economies are poised to become prominent automotive markets globally in the coming years. This is also influencing the demand for vehicles fitted with EPS systems. Many automakers and component manufacturers are increasing their R&D spending to improve their product lines and bring in more technological innovations that would reduce/control emission levels. The market is expected to grow at a CAGR of 8.63 percent during the forecast period of 2014-2019.
Automakers are launching most models with EPS systems. These systems are compact in design and reduce mounting costs. They enable the usage of advanced driver assistance systems such as side-wind compensation, lane assist/keeping, and parking assistance systems.
“The market is experiencing many changes and advances in technology in terms of the design of EPS systems as well as the quality,” says Faisal Ghaus, Vice President of TechNavio Research.
“Automotive original equipment manufacturers are investing in new technologies, and the integration of electronics into vehicles improves the functionality of several systems installed in cars.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
