Auto Electric Power Steering Market Growth| COVID-19 Impact

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The prime drivers of the global Auto Electric Power Steering Market Growth are the growing demand for automobiles and various regulations. Besides, the increasing speed &  distance traveled by vehicles per day owing to the construction of multi-lane expressways, enactment of safety standards, and others are fostering the growth of the market.

 

Regional Analysis

Europe follows North America owing to a large number of players, especially in Germany. Apart from Germany, other European nations such as France, Sweden, and Italy are driving a substantial market in the European region.

The Asia Pacific Auto Electric Power Steering Market Growth is expected to gain the fastest growth owing to the region becoming the hub of automotive manufacturing. China, Japan, and India are expected to drive a large market in the region.

The Middle East and Africa Auto Electric Power Steering Market Growth is projected to gain significantly in favor of the wealthy Gulf countries. However, the gulf region lacks the manufacturing capacity as well as the capability and is dependent on imports.

Segments

The report is segmented into six dynamics to widen the scope of understanding,

By Type                                 : Pinion, Rack, and Column.

By Component                   : Bearing, Rack & Pinion, Electric Motor, Steering Wheel, Gear, Column, and others.

By Mechanism                   : Collapsible and Rigid.

By Type of Fuel Used        : Petrol, Diesel, BEV, HEV, and PHEV.

By Vehicle Type                 : Passenger, Light Commercial Vehicle, and Heavy Commercial Vehicle.

By Regions                           : Europe, North America, Asia Pacific, and the Rest-of-the-World.

Major Players

Players leading the global Auto Electric Power Steering Market Growth include Robert Bosch GmbH (Germany), Mitsubishi Electric Corporation (Japan), Delphi Automotive (UK), TRW