Market Industry Reports (MIR) has published a new report titled “Electric Power Assisted Steering (EPAS) Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global Electric Power Assisted Steering (EPAS) market accounted for over US$ 35 billion by 2019. The market is anticipated to grow at a CAGR of 7.1% from 2019 to 2030.
The global EPAS market is driven by several factors, such as the growing automotive industry, increasing research & development activities by major automotive manufacturers, and the advantages of EPAS over the hydraulic steering system. The EPAS system is more efficient when compared with its traditional counterparts. It has no massive hydraulics to bleed and it exerts a lesser mechanical drag on the engine when compared with other steering systems. R&D activities by various automotive manufacturers to develop a sophisticated and robust steering system will propel market growth in the coming years.
Some of the prominent players present in the EPAS market include:
Robert Bosch GmbH, JTEKT Corporation, DENSO CORPORATION, De Amertek Corporation, Nexteer, ZF Friedrichshafen AG, NSK Ltd, HYUNDAI MOBIS, SHOWA CORPORATION, and ThyssenKrupp AG, among others.
Robert Bosch GmbH, JTEKT Corporation, DENSO CORPORATION, De Amertek Corporation, Nexteer, ZF Friedrichshafen AG, NSK Ltd, HYUNDAI MOBIS, SHOWA CORPORATION, and ThyssenKrupp AG, among others.
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