Electric Power Steering (EPS) is a steering system that replaces conventional hydraulic systems in automobiles by using an electric motor to help the driver guide the wheels. EPS uses an electric motor that is driven by the car's batteries rather than a hydraulic pump that draws power from the engine. Based on information from many sensors that track steering angle, vehicle speed, and driver-applied torque, this motor—which is often located on the steering column or rack and pinion assembly—provides torque assistance. One of the main advantages of EPS is its energy efficiency; unlike hydraulic systems, which continuously draw power, it only utilizes power when steering assist is needed, which lowers fuel consumption.
According to SPER market research, ‘Europe Electric Power Steering Market Size- By Material, By Technology, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Europe Electric Power Steering Market is predicted to reach 9.16 billion by 2033 with a CAGR of 4.13%.
Drivers: The market for electric power steering (EPS) in Europe is expanding significantly due to a number of important factors. One significant factor is the growing use of electronics positioned on the steering wheel, which improves vehicle usability and functionality. By modifying steering feel according to speed and driving conditions, advanced steering-assist safety systems like deep search identification and automatic speed recognition are enhancing vehicle handling. EPS systems are energy-efficient and contribute to lower emissions, their use is being encouraged by the growing need for fuel-efficient vehicles as well as strict environmental requirements. The market is expanding as a result of rising car production and sales.
Restraints: The European electric power steering (EPS) business prevented by several obstacles from expanding and becoming widely used. The high cost of EPS system implementation, which includes costs for electric motor technology, integration, and adaption across different vehicle models, is a major worry. Manufacturers may be discouraged by this financial burden, especially in a cutthroat industry where pricing is critical. The intricacy of EPS systems, which call for complicated electronic control units and sensors, presents problems with durability and dependability, particularly as the systems get more sophisticated with capabilities like autonomous driving assistance. Regulatory obstacles also come into play .EPS systems have to adhere to strict safety and pollution regulations, which forces manufacturers to constantly adapt.
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Germany dominates the European electric power steering market due to its robust automotive manufacturing base and significant vehicle production. Some of the key market players are JTEKT Corporation, Nexteer Automotive Group Ltd, NSK Ltd, Robert Bosch GmbH, ZF Friedrichshafen AG, Others
Europe Electric Power Steering Market Segmentation:
By Type: Based on the Type, Europe Electric Power Steering Market is segmented as; Column Type, Pinion Type, Dual Pinion Type.
By Component Type: Based on the Component Type, Europe Electric Power Steering Market is segmented as; Steering Wheel/Column, Sensors, Steering Motor, Others.
By Vehicle Type: Based on the Vehicle Type, Europe Electric Power Steering Market is segmented as; Passenger Cars, LCV, Heavy Vehicles.
By Region: This research also includes data for United Kingdom, France, Germany, Italy, Russia, and Rest of Europe.
For More Information, refer to below link: –
Europe Electric Power Steering Market Forecast
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