Electric Power Steering market
Electric Power Steering Market Overview:
Electric Power Steering Market Research Report analyzed the current state in the definitions, classifications, applications, and industry chain structure. The analysis provides unbiased professional commentary on the present market scenario, prior market performance, production and consumption rates, demand and supply ratios, and income generation forecasts for the projected period. The Electric Power Steering market study also gives information on the leading businesses functioning in the Electric Power Steering industry’s strategic ambitions and company growth strategies. Mergers and acquisitions, government and corporate transactions, partnerships and collaborations, joint ventures, brand promotions, and product launches are among the methods evaluated in the research. To summarise what has been said thus far, the report provides a comprehensive picture of the Electric Power Steering market in both global and regional markets.
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COVID-19 Impact on Electric Power Steering market:
The COVID-19 pandemic has had a severe influence on the worldwide Electric Power Steering business. Electric Power Steering production facilities have been suspended due to global downturn and personnel scarcity. The COVID-19 pandemic has resulted in a severe and prolonged decline in production utilization, and travel bans and facility closures have kept employees away from their facilities, resulting in a slowdown in the growth of the Electric Power Steering market in 2020. However, the negative impact of COVID-19 on the Electric Power Steering market is projected to be temporary, and the industry is predicted to rebound rapidly by early 2021, owing to the high demand for smart sensor installation.
Segment analysis:
The Electric Power Steering Market is divided into Rack assist type (REPS), which held the highest market shear in 2021.
A “steering rack” is a combination of rack and pinion gears connected to both front wheels. When we turn the steering wheel, the rack and pinion gears engage, shifting the car’s wheels to the left or right and allowing us to control the vehicle. Power-assisted is an acronym for power. It provides additional aid in spinning the steering rack, making steering our vehicle easier. The term “electric” refers to the steering rack’s use of electronics to provide additional power.
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Regional Analysis:
The photopolymers category led the market in 2021, accounting for more than 55.8% of global sales. Photopolymers are water-soluble liquid mixtures comprising monomer, polymer base, and oligomers, as well as a photoinitiator. They are light-sensitive polymeric forms that, when exposed to light, modify their physical and chemical properties. The process is initiated by UV light, which changes the properties of photopolymers. They’re commonly employed in printing technologies like inkjet, polyjet, and 3D printing.
Key players:
The study gives a complete assessment of the presence of the Electric Power Steering market in various areas and countries. Through a deep geographical assessment of the industry, the research analyst seeks to find hidden development prospects that may be used by companies in various regions of the world. The worldwide Electric Power Steering Market research gives precise knowledge that prepares market players to compete successfully with their largest competitors based on growth, sales, and other critical factors. Significant market features such as market drivers and barriers are separated from important development prospects and industry trends in the research study.
• JTEKT Corporation (Japan)
• DENSO Corporation (Japan)
• Mitsubishi Electric Corporation (Japan)
• NSK Ltd. (Japan)
• Nissan Motor Corporation (Japan)
• Hitachi Automotive Systems (Japan)
• Renesas Electronics (Japan)
• ZF Friedrichshafen AG (Germany)
• Thyssenkrupp (Germany)
• Robert Bosch GmbH (Germany)
• TRIDEC (Germany)
• Infineon Technologies (Germany)
• GKN Automotive Limited (UK)
• Delphi Technologies (UK)
• China Automotive Systems, Inc. (China)
• Zhejiang Shibao Company Limited (China)
• Hyundai Mobis (South Korea)
• Mando Corp. (South Korea)
• Global Steering Systems (US)
• Tenneco (US)
• Nexteer Automotive (US)
• Maval Industries LLC (US)
• Danfoss (Denmark)
• STMicroelectronics (Switzerland)
Global Electric Power Steering Market research report offers:
- The research contains a wealth of information, including market dynamics, scenarios, and prospects for the projection period.
- Quantitative, qualitative, value (USD Million), and volume (Units Million) statistics are included in segments and sub-segments.
- Data at the regional, sub-regional, and country levels contain demand and supply dynamics, as well as their impact on the market.
- In the year 2020, the competitive landscape has included a share of significant companies, new advances, and tactics.
- These players provide comprehensive goods, important financial information, latest advancements, SWOT analysis, and strategies.
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