Research Outlines Huge Growth In Automotive Electric Power Steering MarketPosted by Sakshi Mishra on January 17th, 2020 Transparency Market Research has published a new report on the global automotive electric power steering market for the forecast period of 2019–2027. According to the report, the global automotive electric power steering market is projected to reach ~US$ 33.8 Bn by 2027, expanding at a CAGR of ~5% during the forecast period.Global Automotive Electric Power Steering Market: Key Findings
Expansion of Global Automotive Electric Power Steering Market
Looking for exclusive market insights from business experts? Request a Sample Report In terms of motor assist, the column assist segment is expected to expand significantly in the automotive electric power steering market during the forecast period. A column assist electric power steering integrates the motor, sensor, and controller, and assists the mechanism within the steering column. Column assist electric power steering systems are highly preferred for passenger vehicles, and this factor is attributed to the leading share held by the segment in the global electric power steering market. Based on technology, the EPS with ADAS segment is anticipated to expand considerably in the automotive electric power steering market during the forecast period, as more number of vehicles are adopting adaptive cruise control and lane keep assist systems. Rise in consumer affordability and awareness about vehicle safety have fueled the demand for ADAS, which, in turn, is driving the automotive electric power steering market. The sales of luxury and premium vehicles are rising in countries in Asia Pacific such as China and India. The resurgence of the demand for premium vehicles in Europe and North America and increasing sales in Asia Pacific are anticipated to drive the global automotive electric power steering market Regional Analysis of Global Automotive Electric Power Steering Market
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