Global Electric Power Assisted Steering Market is valued USD 75.32 Billion in 2019 and is projected is to exhibit 0.5% CAGR during the forecast period. The market is projected to be around USD 78 Billion by 2026. The market is driven by the rapid increase in the development of connected IoT devices.

EPAS stands for Electric Power Assisted Steering. Electric Power Steering (EPS) is another name for EPAS. In almost all automated vehicles, Electric Power Steering (EPS) is in use. The main objective of any type of power steering system is to attenuate the driver effort required to steer the vehicle that is the torque implemented on the steering wheel, and it uses an electric motor for the same purpose.
Electric Power Assisted Steering Market Dynamics
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Electric Power Assisted Steering Market Insight
Based on the region, North America is expected to dominate the market of an Electric Power Assisted Steering, due to the presence of global players in the U.S. Growing Organization sizes and increasing application area of the Electric Power Assisted Steering is supporting the market Electric Power Assisted Steering in North America. Europe holds the second-largest market in the Electric Power Assisted Steering market. However, Asia-Pacific has emerged as a faster-growing market, due to the developing economy of Asian countries India and China.
Electric Power Assisted Steering Market Segmentation
The global Electric Power Assisted Steering Market is segmented into type, application, and region. On the basis of the type the market is divided into C-EPS, P-EPS, and R-EPS. Based on application the market is segmented into commercial vehicles, passenger vehicles. And based on the geography the market is further segregated into North America, Latin America, Europe and Asia Pacific.
Electric Power Assisted Steering Market Competitive Landscape
The key players in Electric Power Assisted Steering Market are listed as JTEKT, Bosch, NSK, Nexteer, ZF, Mobis, Showa, Thyssenkrupp, Mando, and Other.