DUBLIN--(BUSINESS WIRE)--The "Automotive Electric Power Steering Systems Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

The market has grown substantially and constituted over 50% of the overall automotive electric power steering market in 2017 and it is expected to reach over 75% by 2023.

The shift from earlier hydraulic steering system technology to EPS systems, as a result of the global fuel crisis and need for fuel efficient solutions, has led to the growth in the global automotive electric power steering systems market.

The need for reducing fuel consumption and other logistical benefits drove automobile manufacturers to shift from hydraulic power steering systems that have become obsolete to the new electric power steering systems. Electric power steering systems are now the norm in automotive industries everywhere.

Sourcing of power from an alternator, along with independence from the combustion engine, has helped this technology successfully surpass the earlier steering system.

The global automotive electric power steering systems market has been segmented on the basis of component type, vehicle type, type and geography:

  • On the basis of component type, the market has been segmented into steering wheel/column, sensors, steering motor, and others.
  • On the basis of vehicle type, the market has been segmented into passenger cars, LCV, heavy vehicles, and others.
  • On the basis of type, the market has been segmented into electrically-powered hydraulic steering, electro-hydraulic power steering, EPS, and others.
  • On the basis of geography, the marker has been segmented into North America (United States, Canada, others), Europe (United Kingdom, France, Germany, Russia, others).

Topics Covered

1. Introduction

2. Key Findings of the Study

3. Market Overview

4. Market Dynamics

5. Market Segmentation

6. Competitive Landscape

7. Company Profiles

  • ATS Automation Tooling Systems Inc.
  • Delphi Automotive Systems
  • GKN PLC
  • Hafei Industrial Group Automobile Redirector Obligate Co. Ltd.
  • Hitachi Automotiec Systems
  • Hyundai Mobis Co. Ltd.
  • Infineon Technologies
  • JTEKT Corporation
  • Mando Corporation
  • Mitsubishi Electric Corporation
  • Nexteer Automotive
  • NSK Ltd.
  • Robert Bosch GmbH
  • Thyssenkrupp Presta AG
  • TRW Automotive
  • ZF Friedrichshafen AG

For more information about this report visit https://www.researchandmarkets.com/research/5g62vc/the_global?w=4

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Related Topics: Steering Systems and Components