The Business Market Insights provides you regional research analysis on “Middle East and Africa Electronic Power Steering Market” and forecast to 2027. The research report provides deep insights into the regional market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the Middle East and Africa Electronic Power Steering Market during the forecast period, i.e., 2020–2027.
The electronic power steering market in MEA is expected to grow from US$ 1,599.45 million in 2019 to US$ 1,521.65 million by 2027; it is estimated to grow at a CAGR of 2.7% from 2020 to 2027.
The region is expected to see a rapid rise in marketing and industrialization, which would further boost the diverse industries. The Gulf countries are economically advanced, while the African countries still have to balance the economic conditions of the Gulf countries. Factors such as growing passenger and commercial vehicles on the road, and automated technologies integrated within the vehicles, are positively impacting the EPS market. In 2019, the production of vehicles in Africa accounted for 1,102,036 units. The growth in vehicle production, growing disposable income, and rising demand for the EPS are driving the market growth in the MEA. The governments of several countries in the region have realized the importance of the automotive industry and are taking initiatives to support and enhance the growth of the automotive manufacturing industry in the region. For instance, the Government of South Africa launched South African Automotive Master plan (SAAM) that aims to broaden and deepen the local value chains. Additionally, the automotive manufacturers in South Africa are focusing on strengthening their position in the country. Also, recent movement towards vehicle electrification is driving the MEA electronic power steering market.
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The report profiles the key players in the industry, along with a detailed analysis of their individual positions against the regional landscape. The study conducts a SWOT analysis to evaluate the strengths and weaknesses of the key players in the Middle East and Africa Electronic Power Steering market. The researcher provides an extensive analysis of the Middle East and Africa Electronic Power Steering Market size, share, trends, overall earnings, gross revenue, and profit margin to accurately draw a forecast and provide expert insights to investors to keep them updated with the trends in the market.
Major key players covered in this report:
- JTEKT Corporation
- Mando Corporation
- Mitsubishi Electric Corporation
- Nexteer Automotive
- NSK Ltd.
- Robert Bosch GmbH
- SHOWA CORPORATION
- thyssenkrupp AG
- ZF Friedrichshafen AG
The study conducts a SWOT analysis to evaluate the strengths and weaknesses of the key players in the Middle East and Africa Electronic Power Steering Market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal with regard to different segments. The report predicts the influence of different industry aspects on the Middle East and Africa Electronic Power Steering market segments and regions.
MEA Electronic Power Steering Market – By Type
- Column Assisted Electronic Power Steering(C-EPS)
- Pinion Assisted Electronic Power Steering (P-EPS)
- Rack Assisted Power Steering System (R-EPS)
- Electronic Hydraulic Power Steering (EHPS)
MEA Electronic Power Steering Market – By Application
- Light Commercial Vehicles (LCV)
- Passenger Cars
- Heavy Commercial Vehicles (HCV)
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The research on the Middle East and Africa Electronic Power Steering market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor’s methodologies. The research also segments the Middle East and Africa Electronic Power Steering market on the basis of end user, product type, application, and demography for the forecast period 2020–2027. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.
This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the Middle East and Africa Electronic Power Steering market.
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