It is significant that most of the car manufacturers have initiated providing EPS technology in their passenger cars.
Moreover, there have been consistent updates made by the companies as far as the vehicle safety customs are
concerned that is ultimately enforcing the manufacturers to expand their production. Passenger Car EPS market is
gaining huge popularity across the globe due to rising applications across automotive sector.
The factors that are playing a key role as major boosters to the Passenger Car EPS market growth may entail robust
industrialization, urbanization, technological advancements, robust growth of automotive sector, rising demands
among the customers, developing regions, presence of leading automobile companies, and rising cut throat
competition from other developing countries.
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The only factor that is acting as a major hurdle in the overall Passenger Car EPS industry growth may include soaring
costs as compared to the conventional hydraulic steering system. This market is segmented by type as R-EPS, C-EPS,
P-EPS, and others. Passenger Car EPS Industry is segregated by application as SUV, Sedan & Hatchback, and others.
The market is divided by geography as North America, Europe, China, Japan, Southeast Asia, and India.
Geographically, the Passenger Car EPS Market is witnessing a significant growth in the North American market and the
region is at the same time registering for the largest share in the market. The factors that can be attributed to the
market growth may include rising demands, developing regions, rising prerequisites, and augmentation in the
demands among the end users.
On the contrary, it has been noticed that Europe and Asia Pacific are also emerging as one of the promising regions in
the Passenger Car EPS market owing to rising disposable income, developing regions, and rising market growth
opportunities in these regions. The prominent players contributing in the development of the Passenger Car EPS
Industry are recognized as Bosch, NSK, JTEKT, Nexteer, Thyssenkrupp, Mando, ZF, Mobis, and Showa.
Market segment:
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million
USD), market share and growth rate of Passenger Car EPS in these regions, from 2012 to 2022 (forecast), covering
• United States
• EU
• China
• Japan