Electric Steering Market Expected to Post a CAGR of 15% from 2016 and 2022

PUNE, India, Dec. 7, 2016 /PRNewswire/ -- Market Research Future published a half-cooked research report on Global Electric Steering Market. The Global Market Electric Steering is expected to grow at a CAGR of about 15% during the forecast period, 2016 to 2022.

Market Highlights

Electric steering is increasing replacing hydraulic steering's in the automotive industry. Usage of electric steering will improve the fuel economy because electric steering uses around 8-10 horsepower under load. Electric powered steering uses electric motor instead and provides increased steering capabilities with less effort, as it removes hose, fluid, drive belt, pulley, and pump. Growth in the improved steering & reliability, and high fuel efficiency of electric steering over hydraulic steering systems is expected to drive the market of electric steering. The global electric steering market is expected to show a growth at CAGR of about 15% from 2016 to 2021.

Asia-Pacific has emerged to be fastest growing market for electric steering market. This region has largest vehicle production due to increasing population and increasing disposable income. Increasing population, improving per capita income, and improving living standards are driving the market for automotive industries and hence expected to drive the market for electric steering. 

Taste the market data and market information presented through more than 70 market data tables and figures spread in 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on "Global Electric Steering Market Research Report - Forecast to 2022"

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Scope of the report

This study provides an overview of the global electric steering industry, tracking market segments across the categorized four geographic regions. The report provides a five-year forecast for the market size in terms of value for North America, Europe, Asia-Pacific, and Rest of the world. The scope of the study segments the global electric steering market based on type and vehicle type.

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Key Players

The key players of global Electric steering market report include JTEKT Corporation, Robert Bosch Automotive Steering GmbH, ZF TRW Automotive Holdings Corp., NSK Ltd., Nexteer Automotive Group Limited, Mando Corporation, ThyssenKrupp Ag, Hyundai Mobis Co., Ltd., Showa Corporation, and China Automotive Systems Inc.

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