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OEMs in Automotive Electric Power Steering Market Leverage Motor Control Technologies to Meet Safety in Next-gen Automotive: TMR- Stakeholders Collaborate in Attempt to Offer EPS-MCU Integration at Low Cost, Commercialization of Electric Vehicles Acts As Robust Accelerant for Demand in Automotive Electric Power Steering Market - Focus of OEMs to Reduce Development Lead Time Opens Vast Avenue for Automakers, Global Revenue to Climb to US$ 30.2 Bn by 2031 ALBANY, N.Y., March 1, 2021 /PRNewswire/ -- Electric power steering (EPS) for automotive is technological advancement over traditional EPS both in relation to the energy efficiency and operation of vehicles. EPS is gaining traction as smart steering assistance technology among OEMs, helping them incorporate advanced driver-assistance systems (ADAS). The automotive electric power steering market has evolved steadily over the years, with key force generating demand for more safety in vehicles. An assortment of EPS control units and semiconductor technologies have enriched the landscape of the automotive EPS. Automotive component manufacturers around the world are leaning on developing cost-effective motor control system for automakers. Recently emerging control programs in next-gen automotive are increasingly tilted toward EPS-MCU integration.  The value-chain of the automotive electric power steering market is expanding constantly, and by 2031-end, the global valuation is projected to touch the mark of US$ 30.2 Bn. Key Findings of Automotive Electric Power Steering Market Study Penetration of Electric Vehicles Expands the Canvas Growing trend of adoption of electric vehicles in both passenger and private end-users is a key trend shaping the evolution of the automotive EPS. OEMs and automakers are witnessing vast scope from the increasing pace of commercialization of electric and hybrid vehicles in developed as well as some developing economies. Developed nations are witnessing increasing adoption of ADAS in passenger and light commercial vehicles, thereby expanding the scope for developers of automotive EPS components. EPS is also becoming more common in other types of automobiles, including non-electric vehicles such as small and mid-range sports cars. In coming years, the integration of EPS with next-gen control units will gain momentum, ensuring more safety and fail-safe systems in automotive. Download PDF Brochure - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=72794 COVID-19 Presents Challenges, Nudging OEMs and Development Partners to Realign A range of technologies that help automotive companies improvise on operational parameters of EPS. Most prominently, PID (proportional integral derivative) controllers have attrcted vast research and development interest among industry players. The need for constantly improving PID software solutions and services control methods has spurred opportunities for semiconductor companies and providers of connected mobility solutions. The drive for more safety and compactness to boost fuel saving for passenger vehicles has also led to growing adoption of automotive EPS. However, in all these, companies in the automotive electric power steering market have been facing constraint of regular supply of automotive chips, arising mainly due to prolonged COVID-19-led restrictions in various countries. Further, the demand for new vehicles also saw a marked slump in recent months. This has also hindered the development of low-cost EPS-MCU systems, with a simple software integration frameworks. Meanwhile, OEMs are aligning their strategic objectives with those of various development partners to circumvent this challenge. Explore 360 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Automotive Electric Power Steering Market (Motor Assist: Column Assist, Pinion Assist, and Rack Assist; Component: EPS Control Module, Electric Motor, Rack & Pinion, and Steering Column; Vehicle: Passenger Vehicle, Light Commercial Vehicle, and Heavy Commercial Vehicle; and Technology: Conventional EPS and EPS with ADAS) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031 at https://www.transparencymarketresearch.com/automotive-electric-power-steering-market.html Automotive Electric Power Steering Market: Key Driving Factors and Avenues
Automotive Electric Power Steering Market: Regional Landscape Europe and Asia Pacific are expected to offer incredible opportunities for various industry players in the global market. Rapidly expanding automotive manufacturing in Asia Pacific spurs research in global automotive electric power steering market. The Europe market is characterized by the presence of prominent OEMs and tier-1 suppliers. Asia Pacific is expected to remain potentially lucrative over the next few years on the back of the demand for ADAS in vehicles and a thriving manufacturing sector to support the growth. Analyze global isothermal bags & containers market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study Explore Transparency Market Research's award-winning coverage of the Global Automotive & Transport Industry: Vehicle Subscription Market – Global vehicle subscription market is projected to surpass US$ 81 Bn by 2030, expanding at a CAGR of ~15% during the forecast period. Automotive users are finding convenience in the vehicle subscription model, owing to flexible, monthly, or yearly subscription plan offerings Engine Components Market – Global engine components market is expected to cross the market value of US$ 7.5 Bn by the end of 2030. Furthermore, advancements in the 3D printing technology has led to notable improvements in designs of various engine components, including valve tappet, screw cap assembly, and retainer. About Transparency Market Research Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information. Contact Mr Rohit Bhisey Logo: https://mma.prnewswire.com/media/1085206/Transparency_Market_Research_Logo.jpg 
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