The EPS system market is projected to grow from 2016 to 2021, registering a CAGR of 7.29% during the forecast period. The EPS system eliminates the need for hydraulic pumps and belt-drive units, which were initially used in hydraulically assisted power steering systems. The report covers automotive EPS Market By Type (C-EPS, P-EPS, R-EPS), By Components (Electric Motors, Speed Sensor, Torque Sensor, Rotational Angle Sensor, EPS Control Unit & Others), Vehicle Type (Passenger car, LCV, HCV) and Region. The market size, in terms of volume (‘000 units) and value (USD million), of the EPS system market for various regions and system types has been derived using forecasting techniques based on automobile demand and production trends.
The EPS system market is dominated by globally established companies such as Hitachi Automotive Systems (Japan), Mitsuba Corporation (Japan), and Nidec Corporation (Japan).