Automotive Electric Power Steering Market 2019 Global Size, Trends, Share, Competitive Analysis, Regional, And Industry Forecast To 2023

Apr 2, 2019

The global automotive electric power steering market is estimated to grow with a CAGR of approx. 6% (2017 to 2023).

Pune, India - April 2, 2019 /MarketersMedia/ —

The automotive electric power steering market is gaining much mileage with automotive makers now focusing more on comfort, along with performance. This intention has brought in many details under the purview of the automotive makers. One among them is the electric power steering. The result is a better experience for the driver where a balance has been maintained between specifications and aesthetic appeals. The steering wheel got much notice as this is an integral force that can tire down the driver. Modern technology reduces the engine load utilized by the steering wheel to make it operate more smoothly. This would also lessen the fuel consumption and increase car performance. The global automotive electric power steering market is expecting a 6% CAGR during the forecast period (2018-2023), owing to the inclusion of such technology in car production across the world. Market Research Future (MRFR) published a report that has at its core in a detailed analysis of segments and market factors that can impact the market in the coming years. Among the factors, preference of the automotive makers for a better and greener car can drive the market forward.

Get Free Sample Report of Automotive Electric Power Steering Market at https://www.marketresearchfuture.com/sample_request/5743

Segmental Analysis:
The global automotive electric power steering market can be segmented by type, component, mechanism, vehicle type, and fuel.

Type-wise segmentation of the automotive electric power steering market includes pinion-assist type, rack assist type, and column assist type. Column assist type is the most common one as it helps in saving crucial space in compact cars.

Component-based segmentation of the automotive electric power steering market comprises bearing, mechanical rack & pinion, steering wheel, steering gear, and steering column.

Based on the mechanism, the automotive electric power steering market includes collapsible and rigid. The collapsible variety enjoys much preference.

Based on the fuel-used, the automotive electric power steering market can be segmented into Petrol, Diesel, battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), and hybrid electric vehicle (HEV). Petrol and diesel-powered cars mostly use electric power steering technology. The electric car has better integration solution for such steering.

Based on vehicle type, the automotive electric power steering market comprises Passenger Vehicle, Light Commercial Vehicle (LCV), and Heavy Commercial Vehicle (HCV).

Regional Analysis:
Considering regions, the automotive electric power steering market can be segmented into North America, Asia Pacific (APAC), Europe, and Rest-of-the-World (RoW).

North America market is doing great in the segment with the automotive sector revamping itself, and heavy investments are ensuring the intake of the luxury cars which squarely influences the market. In addition, the region is investing mostly in luxury cars and electric cars which is providing the market much-needed boost.

The APAC market is expected to register significant market revenue during the forecast period owing to major market players expanding their business in the region. Infrastructural cost is relatively less in the region than other regions which attracts a lot of business. With that, increasing disposable income is inflating the consumer pool which can provide the market with traction.

Competitive Insight:
Prominent players in automotive electric power steering market are KSR International Company (Canada), Mando Corporation (South Korea), Delphi Automotive (U.K), Sona Koyo Steering Systems Ltd. (India), Mitsubishi Electric Corporation (Japan), Showa Corporation (Japan), JTEKT Corporation (Japan), Hitachi Automotive Systems Ltd. (U.S.), Nexteer Automotive (U.S.), Federal-Mogul (U.S.), Robert Bosch GmbH (Germany), NSK Ltd. (Japan), Hyundai Mobis (South Korea), TRW Automotive (U.S.), and ThyssenKrupp AG (Germany), and others.

In 2018, Nexteer introduced a steering system where steering on-demand system enables safe and intuitive transitions from manual to automated and vice versa which can give the driver a better driving experience. The quiet steering is not going to change its position in the automated mode even when the car is taking a turn.

Suzuki launched their KingQuad 500AXi Power Steering in 2018 where the ATVs are going to tackle tough trails easily without much vibration. Its fuel injection system and twin iridium spark plugs can ensure easy starting to assist the driver.

Get Complete Report Details of Automotive Electric Power Steering Market at https://www.marketresearchfuture.com/reports/automotive-electric-power-steering-market-5743

Continued…….

About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR) and Market Research & Consulting Services.

Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Address: Market Research Future, Office No. 528, Amanora Chambers, Magarpatta Road, Hadapsar,, Pune - 411028, Maharashtra, India, +1 646 845 9312, [email protected]
Website: https://www.marketresearchfuture.com/reports/automotive-electric-power-steering-market-5743

Source URL: https://marketersmedia.com/automotive-electric-power-steering-market-2019-global-size-trends-share-competitive-analysis-regional-and-industry-forecast-to-2023/497847

Source: MarketersMedia

Release ID: 497847

More News

Asian Para Games: King James Reyes wins athletics bronze for PH
Oct 23, 2026

Asian Para Games: King James Reyes wins athletics bronze for PH

MANILA, Philippines–King James Reyes won bronze in the men’s 1,500-meter T46 on Friday, giving the Philippines its first athletics medal at the 5th Asian Para Games in Aichi-Nagoya in Japan. Reyes, 24, clocked a personal-best 4 minutes, 13.81 seconds at Mizuho Park Athletic Stadium. The Loreto, Agusan del Sur, native lost an arm after falling

NBA: Brandon Miller looks to end Hornets’ 10-year playoff drought
Oct 23, 2026

NBA: Brandon Miller looks to end Hornets’ 10-year playoff drought

CHARLOTTE, N.C. — Brandon Miller has his big contract after signing a five-year, $209 million deal with the Charlotte Hornets earlier this week. Now he wants something more — to put an end to the Hornets’ painful NBA 10-year playoff drought. “Our goal is the playoffs,” Miller said Thursday at a ceremony at the Spectrum

F1: Lewis Hamilton hints at delaying retirement to race in Africa
Oct 23, 2026

F1: Lewis Hamilton hints at delaying retirement to race in Africa

AUSTIN, Texas — Lewis Hamilton lauded Formula 1’s plan to return to Africa with a race in Rwanda and acknowledged the criticism from human rights groups over the host nation. He also suggested the chance to achieve his dream of racing in Africa could prompt him to drive for several more years. READ: F1 announces

PBA: Rain or Shine finishes second in Group B after Phoenix rout
Oct 23, 2026

PBA: Rain or Shine finishes second in Group B after Phoenix rout

ANTIPOLO—Rain or Shine secured the No. 2 spot in Group B and a quarterfinal date with Converge after blowing out Phoenix, 133-103, in the 2026 PBA Governors’ Cup on Friday at Ynares Center here. Jhonard Clarito registered conference-highs of 18 points and 11 rebounds on top of five assists, but it was the Elasto Painters’

NBA to sustain grassroots programs, fan events in Philippines
Oct 23, 2026

NBA to sustain grassroots programs, fan events in Philippines

MANILA, Philippines — NBA deputy commissioner Mark Tatum said the Philippines remains part of the league’s plans, although a game in the country is not an immediate priority. During an online press conference with global media on Tuesday night, Tatum outlined the NBA’s continued efforts in the Philippines, including grassroots programs and fan events. READ:

Sprite expands and global basketball footprint with NBA’s Nikola Jokić and new ‘Never Stop Refreshing the Game’ platform
Oct 23, 2026

Sprite expands and global basketball footprint with NBA’s Nikola Jokić and new ‘Never Stop Refreshing the Game’ platform

In a country where 62% of Filipinos consider themselves NBA fans and represent the 3rd largest viewing audience globally, Sprite officially unveils its new global platform, “Never Stop Refreshing the Game,” with the addition of three-time NBA MVP Nikola Jokić to its global basketball athlete roster alongside superstar Anthony Edwards. Sprite is doubling down on

NCAA: Jimboy Estrada sinks winner as Letran escapes San Sebastian
Oct 23, 2026

NCAA: Jimboy Estrada sinks winner as Letran escapes San Sebastian

MANILA, Philippines—Letran survived a desperate San Sebastian, 91-89, with Jimboy Estrada hitting the game-winner on Friday in NCAA Season 102 men’s basketball tournament action at San Juan Arena. With the score tied at 89, the Knights had 6.3 seconds to work with and put their trust in Estrada, who nailed a step-back midrange jumper with

WNBA Finals: Dream’s bruising defense puts Valkyries on the back foot
Oct 23, 2026

WNBA Finals: Dream’s bruising defense puts Valkyries on the back foot

ATLANTA— The Atlanta Dream have imposed their will defensively on Golden State in the WNBA Finals so far, using their size and strength to dominate the Valkyries. That’s helped them take a 2-1 lead in the best-of-seven series after Wednesday night’s 97-71 victory. Game 4 is on Saturday. READ: WNBA: Angel Reese, Dream beat Valkyries

Daiki Hashimoto wins world gymnastics all-around gold anew
Oct 23, 2026

Daiki Hashimoto wins world gymnastics all-around gold anew

ROTTERDAM, Netherlands— Daiki Hashimoto of Japan soared to gold during the men’s all-around final at the world gymnastics championships on Thursday, sealing his fourth straight title with a brilliant performance on high bar in the final rotation. The 25-year-old Hashimoto’s total of 85.988 included a 14.766 on high bar, even though he could have opted

NBA: Refs admit LaMelo Ball did travel on side-step 3-pointer in Miami
Oct 23, 2026

NBA: Refs admit LaMelo Ball did travel on side-step 3-pointer in Miami

MIAMI— Upon review, Minnesota’s LaMelo Ball traveled. Really, really traveled. The association that represents NBA referees posted a clip from Wednesday night’s game between the Timberwolves and the Miami Heat and clarified — not that it needed much clarification — that Ball indeed did commit a violation on his way to a 3-pointer in the

GM Wesley So conquers US Chess Championships for 4th time
Oct 23, 2026

GM Wesley So conquers US Chess Championships for 4th time

FILIPINO-AMERICAN chess Grandmaster Wesley So topped the 2026 United States Chess Championship for the fourth time, beating top American players, including world No. 3 Fabiano Caruana, who ruled the four previous tournaments. In the second game of the two-game rapid playoff that was livestreamed at the Saint Louis Chess Club in Missouri, Caruana made a risky, if not dubious, move by advancing his bishop too early and leaving a central pawn exposed.   So immediately took the free pawn and with it, a lot of territory on the chess board.  So castled his king on the queen-side and advanced his king-side pawns toward Caruana’s castled king.  Caruana attempted to counter-attack on the queen-side, but So continued to push his pawns forward and threatened to expose Caruana’s king.   Caruana resigned after So’s 33rd move.  So and Caruana finished the 11-round tournament tied for first place with 7.0 points apiece. So’s journey to glory was not without glitches, however, as he unexpectedly lost to tail-ender Sam Sevian in the 11th round.  A draw would have been enough to clinch the championship but the loss enabled Fabiano Caruana, who played well in the second half of the tournament, to catch up with So.  So and Caruana then met in a tie-breaker where they played two games with quicker thinking time — forcing more errors and increasing psychological pressure for both players. The first rapid playoff game ended in a draw. In the first two rounds of the tournament, So was on fire as he won against 2018 US champion Sam Shankland and Jeffrey Xiong.  So also beat up-and-coming young grandmasters Andy Woodward and Ray Robson in dramatic come-from-behind victories. So pocketed the $56,000 purse for topping the tournament. Caruana won the US Chess Championship in 2016, and 2022 to 2025.  So won the US Championship in 2017, 2020, and 2021. The US Chess Championship is considered the “toughest tournament” in the world today, with the strongest players from all over the world gravitating toward the United States. In August, So had also won the prestigious Sinquefield Cup participated by top grandmasters from all over the world.  Then in September, he played in the World Chess Olympiad as part of the United States team.

Yulo aims for floor exercise gold at 2026 World Championships
Oct 23, 2026

Yulo aims for floor exercise gold at 2026 World Championships

TWO-TIME Olympic champion Carlos Yulo will have a chance to win the gold medal in floor exercise at the 2026 FIG Artistic Gymnastics World Championships in Rotterdam on Saturday at 8 p.m. (Manila time). The 26-year-old Filipino gymnast is fresh from a historic double gold medal performance at the 20th Asian Games in Japan, where he won the floor exercise and vault titles. Yulo last claimed a World Championships gold on floor exercise in 2019 in Stuttgart, becoming the first Southeast Asian athlete to win the event. In that final, he scored 15.300 points, the highest score posted so far in the history of the open-ended scoring era of the World Championships where he posted a 6.5 difficulty for his routine. The world champions from the 2021 to 2025 scored below 15 points. On Friday, Yulo made the final with a score of 14.500 points (difficulty 5.700, execution 8.800), second only to Russia’s Dukhno Arsenii (14.700).  Yulo opened his routine with a 2.5 twist into a front double pike and closed with a double layout, taking only a small hop on landing. Since his 2019 triumph, Yulo has come close but fallen short of winning another gold in the World Championships. He finished fifth in Kitakyushu 2021 after stepping out of bounds; seventh in Liverpool 2022 after a fall; fourth in Antwerp 2023 with a score of 14.500; and finally returned to the podium with a bronze medal in Jakarta 2025 (14.533), behind British gymnasts Jake Jarman (14.866) and Luke Whitehouse (14.666). The 4-foot-11 Yulo will look to end his seven-year gold medal drought against a strong field of competitors that also include Artem Dolgopyat (14.300), Frederick Richard (14.233) and reigning world champion Jarman (14.133). Yulo will also defend his vault title on Sunday. He won the vault gold in 2021 and 2025. His other medals in the World Championships include silvers on parallel bars (2021) and vault (2022) and bronzes on floor exercise (2018 and 2025) and parallel bars (2022). The World Championships remain the highest-level global competition outside the Olympic Games and serve as a key qualifying pathway for the 2028 Olympics.

Recommended

YOUR NEWS, OUR NETWORK.

Do you have Great News you want to tell the world?

Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.