20th October,
2018 - Electronic
Power Steering Market is anticipated to grow at a significant
CAGR in the years to come, owing to the logistic and fuel efficiency it offers
as well as its major application in all automobiles. Power steering systems
supplement the torque that the driver applies to the steering wheel. EPS system
manages the assistance at certain speed such as less assistance at higher
speeds and more assistance at lower vehicle speed, which helps in eliminating
many HPS components such as drive belt, hoses, pump, fluid and pulley. Eps
enhances the efficiency of the car by reducing the fuel consumption due to low
energy utilization in electric power steering system. Dissimilar from a hydraulic power steering
system, the EPS incessantly helps in driving a hydraulic pump.
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EPS system powers the motor when required, which is also
among one of the efficiency advantages of an EPS system. This results in
reduced vehicle fuel consumption. The fastest application segment of APS has
been observed in larger sedans and light trucks. The market can be segmented
based on components such as Steering wheel, column (motor), torque sensor, ECU
and steering gear.
Electric power steering system has evolved and surpassed the
hydraulic steering owing to the various long term benefits it offers. EPS
requires less maintenance and is less in weight as well as is durable, which
helps in getting better response at different speeds and hence a smooth driving
experience. Power Steering is especially crucial for the cars that have engine
in front and there is a lot of weight on the front wheels. Europe and Japan are
the main regions where EPS is used extensively. China is the largest market of
EPS. Key players of the electronic power steering market include Robert Bosch
GmbH, Delphi Automotive systems, Hyundai Mobis Co., Ltd., Hitachi Automotive
systems, JTEKT Corporation, Infineon Technologies & TRW Automotive. The
aforementioned market players through continuous R&D endeavors focuses on
building a wide distribution network that supports the overall coupling market
to report significant growth over the forecast period. Companies through
strategic expansions & mergers & acquisitions have been trying to cater
large volume of customers with steel couplings that are cost-effective and high
quality.
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