Product ID: SQMIG25C2115
Report ID:
SQMIG25C2115 |
Region:
Global |
Published Date: March, 2024
Pages:
223
|
Tables:
98 |
Figures:
76
Global Electric Power Steering Market size was valued at USD 25.66 Billion in 2022 and is poised to grow from USD 27.10 Billion in 2023 to USD 41.90 Billion by 2031, at a CAGR of 5.60% during the forecast period (2024-2031).
The global Electric Power Steering (EPS) market is experiencing considerable increase pushed by several key elements. The automobile enterprise's shift toward advanced driving force assistance systems and the increasing call for fuel-green motors are fundamental drivers for the adoption of EPS. The removal of conventional hydraulic steering systems in choose of EPS results in more advantageous gasoline efficiency and automobile overall performance.
Additionally, the growing fashion of autonomous and semi-self sustaining motors further boosts the market as EPS aligns with the necessities of these superior using technologies. As a result, EPS is turning into a wellknown characteristic in modern cars, contributing to the general boom of the global Electric Power Steering market.
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Product ID: SQMIG25C2115