Market Research Report
India Electric Power Steering Market By Type, By Component, By Vehicle Type, By Mechanism, By Company and By Region, Forecast & Opportunities, 2025
|India Electric Power Steering Market By Type, By Component, By Vehicle Type, By Mechanism, By Company and By Region, Forecast & Opportunities, 2025|
Published: June 1, 2020
Content info: 76 Pages
Delivery time: 2-3 business days
India Electric Power Steering Market By Type (C-EPS, P-EPS and R-EPS), By Component (Steering Column, Steering Wheel, Sensors, Electronic Control Unit, Electric Motor and Bearings), By Vehicle Type (Passenger Cars, Medium & Heavy Commercial Vehicles, Light Commercial Vehicles and Off-the-Road Vehicles), By Mechanism (Collapsible EPS and Rigid EPS), By Company and By Region, Forecast & Opportunities, 2025.
India electric power steering market is projected to grow at a robust CAGR over the next five years. The major factors contributing to the growth of the market include increasing vehicle production, growing vehicle sales and stringent government regulations in the country. Furthermore, measures taken by the automakers to reduce the weight and complexity, is positively influencing the electric power steering market of India.
India electric power steering market is further segmented based on steering type, component type, vehicle type and mechanism type. Based on type, the market is segmented into C-EPS, P-EPS and R-EPS. Rack EPS is projected to be the fastest growing segment of the market due to increasing installation rate of electric power steering in commercial vehicles since R-EPS is mostly used in heavy commercial vehicles. Moreover, vehicle emission regulations in India will further drive the market growth in the country.
The major player operating in India Electric Power Steering Market are Denso Corporation, Mando Corporation, Robert Bosch GMBH, Showa Corporation, JTEKT Corporation, Hyundai Mobis, NSK Ltd, Mitsubishi Corporation, Sona Koyo Steering System, Nexteer. Companies operating in the market are using inorganic strategies such as partnership, mergers & collaboration to increase their share in the market.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across India. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analysed the service offerings, distribution channels and presence of all major collaboration manufacturers across India.
TechSci Research calculated the market size of India Electric Power Steering using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analysing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as collaboration service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, India Electric Power Steering market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Electronic Control Unit
Medium & Heavy Commercial Vehicles
Light Commercial Vehicles
Company Profiles: Detailed analysis of the major companies present in Electric Power Steering.
With the given market data, TechSci Research offers customizations according the company's specific needs. The following customization options are available for the report:
Profit Margin Analysis