Global Electric Power Steering Market 2015-2019 is a new industry research report which profiles key players like American JTEKT Corp. Mitsubishi Electric Corp. Nexteer Automotive, NSK Ltd. and TRW Automotive Holdings Corp.

Dallas,TX (PRWEB) February 28, 2015

Automakers are launching most models with electric power steering systems. These systems are compact in design and reduce mounting costs. They enable the usage of advanced driver assistance systems such as side-wind compensation, lane assist/keeping, and parking assistance systems.

According to the Electric Power Steering market report, the growth of the market is attributed to the increase in demand for passenger cars fitted with EPS systems. Countries worldwide are implementing stringent regulations to reduce/control vehicle emission levels. The fuel economy of EPS-fitted cars is higher than that of hydraulic steering-fitted cars.

Emerging economies such as China, Brazil, and India are experiencing rapid expansion and growth in terms of economy and infrastructure. These economies are poised to become prominent automotive markets globally in the coming years. This is also influencing the demand for vehicles fitted with EPS systems. Many automakers and component manufacturers are increasing their R&D spending to improve their product lines and bring in more technological innovations that would reduce/control emission levels.

Emerging economies such as China, Brazil, and India are experiencing rapid expansion and growth in terms of economy and infrastructure. These economies are poised to become prominent automotive markets globally in the coming years. This is also influencing the demand for vehicles fitted with electric power steering market. Many automakers and component manufacturers are increasing their R&D spending to improve their product lines and bring in more technological innovations that would reduce/control emission levels.

The market is experiencing many changes and advances in technology in terms of the design of electric power steering systems as well as the quality. Automotive original equipment manufacturers are investing in new technologies, and the integration of electronics into vehicles improves the functionality of several systems installed in cars.

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Report recognizes the following companies as the key players in the Global Electric Power Steering Market are American JTEKT Corp. Mitsubishi Electric Corp. Nexteer Automotive, NSK Ltd. and TRW Automotive Holdings Corp.

Other Prominent Vendors in the market are Bosch Corporation, China Automotive Systems Inc. Continental AG, Delphi Automotive, Federal-Mogul Corp. Mando Corp.and Showa Corp

Further, the report states that vendors in this market, however, have to grapple with the rising cost of raw materials. This adds to their production costs, but vendors or manufacturers are unable to pass this extra cost on to customers because of the intensely competitive nature of the market. This negatively affects their profit margins.

List of Exhibits:

Exhibit 1: Market Research Methodology

Exhibit 2: Global Electric Power Steering Market by Volume 2014-2019 (million units)

Exhibit 3: Market Segmentation By Technology

Exhibit 4: Global Electric Power Steering Market by Technology 2014-2019 (million units)

Exhibit 5: Global Electric Power Steering Market by Technology 2014-2019

Exhibit 6: Global Column Type Electric Power Steering Market 2014-2019 (million units)