Asia Pacific Blood Glucose Test Strip Packaging Market Research Repor Automotive Electric Power Steering Market Research

Automotive Electric Power Steering Market 2018
Automotive Electric Power Steering Market Share, Size, Trends, And Business Opportunity
Analysis Report 2018 include historic data, with forecast data to 2023. Automotive Electric
Power Steering Market report is helpful for future strategy development, and to know about
Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key
players forecast to 2023.
Automotive Electric Power Steering Market Information by Type (Pinion, Rack, Column),
Component (Bearing, Rack & Pinion, Electric Motor, Steering - Wheel, Gear, Column),
Mechanism (Collapsible, Rigid), Fuel, Vehicle, and Region – Global Forecast to 2023.
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Market Scenario:
The automotive industry has been using traditional hydraulic pressure, provided by a pump,
driven by the engine. This pump would constantly run, using the generated engine power, thus,
placing an adverse load on the engine. This pump would continue running even when the
steering wheel isn’t operated, adversely affecting the vehicle fuel consumption. With electric
power steering mechanism, the engine load is utilized to guide the driver only when the
steering wheel is turned, in either direction, thereby, decreasing the fuel consumption. The
drag or thrust is still exerted on the engine but actually occurs only when the steering
movement is performed, thereby improving the engine efficiency drastically.
There are many factors that are responsible for the growth of automotive electric power
steering market. Firstly, customers over the world seek technically superior automobiles with
high-end features, economical cost, and better safety options. Secondly, automobile makers
always try to manufacture cleaner, greener cars with a lesser carbon footprint, which can be
achieved by incorporating this system. Thirdly, the consumers desire more peaceful and
comfortable driving experience, with a lesser driving effort that can again be achieved using
electric power steering system. The global automotive electric power steering market is
estimated to grow with a CAGR of approx. 6% (2017 to 2023).
Automotive Electric Power Steering Market by Segmentation:
On the basis of type, the most commonly used electric power steering is the column assist type,
since it integrates system electronics and assisting mechanism with the steering column,
helping to save crucial space in compact cars. On the basis of component, the one type deciding
the performance of the steering wheel assembly is the electric motor. Higher the motor