Automotive Electronic Power Steering System is a very popular steering system, a power steering system that directly relies on the motor to provide auxiliary torque; Currently, most of the vehicle are installed the electronic power steering system, and the electronic power steering system can reduce about 5% fuel consumption.
NSK Ltd, a Japanese Company has designed the world\'s lightest column type Electric Power Steering (EPS), which will contribute to increased fuel efficiency in automobiles.
The simple EPS design compared to hydraulic steering systems, with advantages such as lesser weight, low maintenance, a better response at different speeds, high durability, and lesser fuel consumption, has fuelled the adoption of EPS over hydraulic systems, in turn, driving the market for automotive electric power steering systems. Erratic fuel prices and safety features, such as electronic stability control and ABS integrated with electronic steering systems, are some other factors fuelling demand in this market.
The Global Automotive Electric Power Steering (EPS) Market was valued at xxx million USD with a CAGR xx% from 2018-2022. Subsequently, it will touch xxx million USD in 2023 with a CAGR xx % from 2023-2030.

In the global Automotive Electric Power Steering (EPS) Market, This report focuses particularly in North America, South America, Europe and Asia-Pacific, and Middle East and Africa. This report classifies the Market on the basis of application, type, regions, and manufactures.

In Market segmentation by manufacturers, the report covers the following companies-
JTEKT
Bosch
NSK
Nexteer
ZF
Mobis
Showa
Thyssenkrupp
Mando

In Market segmentation by geographical regions, the report has analysed the following regions-
North America (USA, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

In Market segmentation by types :
C-EPS
P-EPS
R-EPS

In Market segmentation by applications :
Passenger Vehicle
Commercial Vehicle

The research provides answers to the following key questions:
• What is the estimated growth rate and Market share and size of the Automotive Electric Power Steering (EPS) Market for the forecast period 2023-2030?
• What are the driving forces in the Automotive Electric Power Steering (EPS) Market for the forecast period 2023-2030?
• Who are the prominent Market players and how have they gained a competitive edge over other competitors?
• What are the Market trends influencing the progress of the Automotive Electric Power Steering (EPS) industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the Market hold for the prominent Market players?
Any special requirements about this report, please let us know and we can provide custom report.

Note – In order to provide more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19.

Research Methodology

The Market Research Update offers technology-driven solutions and its full integration in the research process to be skilled at every step. We use diverse assets to produce the best results for our clients. The success of a research project is completely reliant on the research process adopted by the company. Market Research Update assists its clients to recognize opportunities by examining the global market and offering economic insights. We are proud of our extensive coverage that encompasses the understanding of numerous major industry domains.

Market Research Update provide consistency in our research report, also we provide on the part of the analysis of forecast across a gamut of coverage geographies and coverage. The research teams carry out primary and secondary research to implement and design the data collection procedure. The research team then analyzes data about the latest trends and major issues in reference to each industry and country. This helps to determine the anticipated market-related procedures in the future. The company offers technology-driven solutions and its full incorporation in the research method to be skilled at each step.

The Company's Research Process Has the Following Advantages:

1. Information Procurement

The step comprises the procurement of market-related information or data via different methodologies & sources.

2. Information Investigation

This step comprises the mapping and investigation of all the information procured from the earlier step. It also includes the analysis of data differences observed across numerous data sources.

3. Highly Authentic Source

We offer highly authentic information from numerous sources. To fulfills the client’s requirement.

4. Market Formulation

This step entails the placement of data points at suitable market spaces in an effort to assume possible conclusions. Analyst viewpoint and subject matter specialist based examining the form of market sizing also plays an essential role in this step.

5. Validation & Publishing of Information

Validation is a significant step in the procedure. Validation via an intricately designed procedure assists us to conclude data-points to be used for final calculations.