Aug 13, 2018   SOURCE: BusinessWire

The Automotive Electric Power Steering (EPS) Market in China to 2023 - Increasing Passenger Car Sales to Boost the Market - ResearchAndMarkets.com

The "China Automotive EPS Market - Analysis of Growth, Trends, Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

China Automotive Electric Power Steering (EPS) market is estimated to register a CAGR of 15.73% during the forecast period (2018-2023).

The country is likely to see faster adoption of EPS in the vehicles in the coming five years, owing to the increasing electric vehicle sales as well as other major factors like immediate need for controlling emission levels and fuel efficient solutions in automotive industry.

Increasing Passenger Car Sales to Boost the Market

Passenger cars sales have been increasing in China at an average growth rate of 11% during 2014-2016. In 2016, China passenger car sales accounted for 24,376,902 units. China has the largest share for passenger vehicles, followed by the United States, Japan, Germany, South Korea and India. China alone contributed to 26.99% of the global sales. This improvement in sales is expected to encourage automakers to ramp up the production activities, driving the market for automotive EPS over the forecast period.

Developments in the Market

  • April 2017: Nexteer Automotive signed a joint venture agreement with China-based Dongfeng Motor Parts and Components Group Co., to supply EPS for Dongfeng Motor Group. The 50:50 joint venture is anticipated to start in late 2017, due to pending China regulatory approval.
  • December 2017: Nexteer Automotive started constructing a plant, in Liuzhou, China, in the end of 2017 and expected to complete by October 2018. The plant will produce electric steering system and supply to the growing demand in China as well as other Asia-pacific markets.

Key Topics Covered

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Overview And Technology Trends

5. Market Dynamics

6. China Automotive EPS Market Segmentation, By Component Type

7. China Automotive EPS Market Segmentation, By Vehicle Type

8. Competitive Landscape

9. Company Profiles

  • ATS Automation
  • Denso Corporation
  • GKN PLC
  • Hitachi Automotive Systems Ltd.
  • Hyundai Mobis
  • Infineon Technologies
  • JTEKT Corporation
  • Mitsubishi Electric Corporation
  • Nexteer Automotives
  • NSK Ltd.
  • Robert Bosch GmbH
  • Thyssenkrupp Presta AG
  • ZF Friedrichshafen AG

10. Future of the Market

For more information about this report visit https://www.researchandmarkets.com/research/dqq347/the_automotive?w=4