Electric Power Steering (EPS) is the latest technology in the field of Automobile industry. Compared to the traditional steering system, EPS enhance the driving experience for car drivers and also increases the fuel efficiency. Many car manufacturing companies are offering EPS technology in their cars.
EPS helps to prevent wheel from transferring load to steering column, reduces emission due to vehicle fuel efficiency and helps to enhance safety and steering control are the major drivers which help in surging the growth of this market whereas EPS is costly compared to traditional hydraulic steering system which acts as a restraining factor for the growth of Light Commercial Vehicle EPS market. Introduction of brushless motor technology and the development of lightweight electric power steering will add new opportunities for this market in the coming years.
The "Global Light Commercial Vehicle EPS Market Analysis to 2027" is a specialized and in-depth study of the Light Commercial Vehicle EPS industry with a focus on the global market trend. The report aims to provide an overview of the global Light Commercial Vehicle EPS market with detailed market segmentation by type, component, and geography. The global Light Commercial Vehicle EPS market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Light Commercial Vehicle EPS market players and offers key trends and opportunities in the market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Light Commercial Vehicle EPS market based on type and component. It also provides market size and forecast till 2027 for overall passenger car EPS market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The Light Commercial Vehicle EPS market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 16 countries globally along with the current trend and opportunities prevailing in the region.
Besides this, the report analyzes factors affecting Light Commercial Vehicle EPS market from both demand and supply side and further evaluates market dynamics affecting the Light Commercial Vehicle EPS market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the market in these regions.
Also, key Light Commercial Vehicle EPS market players influencing the market are profiled in the study along with their SWOT analysis and market strategies. The report also focuses on leading industry players with information such as company profiles, products, and services offered, financial information for the last 3 years, the key development in the past five years. Some of the key players influencing the market are JTEKT Corporation., Robert Bosch GmbH, NSK Ltd., ZF Friedrichshafen AG, Nexteer Automotive, Hyundai Mobis Co., Ltd., SHOWA CORPORATION., Mando Co., Ltd., Hitachi Automotive Systems, Ltd. and Federal-Mogul LLC.