According to Markntel Advisors Report, Solar Water Desalination Plant Market is expected to grow at a significant growth rate, and the analysis period is 2025-2030, considering the base year as 2024.Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

Electric Power Steering (EPS) is a specially designed system in which the steering is controlled by an electric motor, and an electronic control unit is attached to the steering. EPS aids in the swift handling of vehicles as it works on torque sensors, over conventional steering.

Global Electric Power Steering (EPS) Market Research Report & Summary:

The Global Electric Power Steering (EPS) Market size was valued at around USD 26.96 billion in 2024 and is projected to reach USD 38.78 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 6.2% during the forecast period, i.e., 2025-30.

Time Period Captured in the Report:

·        Historical Years: 2020-2023

·        Base Years: 2024

·        Forecast Years: 2025-2030

Who are the Key Players Operating in the Electric Power Steering (EPS) Market?

The top companies of the Solar Water Desalination Plant Market ruling the industry are: 

Bosch, Denso Corporation, Hyundai Mobis, JTEKT Corporation, HL Mando, Hitachi Astemo, LTD., Mitsubishi Electric Corporation, Nexteer, NSK Corporate, Sensata Technologies, Inc., ZF Friedrichshafen AG, Zhuzhou Elite Electro-Mechanical Co. Ltd., GKN Automotive Limited, Thyssenkrupp Presta AG, and others

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What is Included in Electric Power Steering (EPS) Market Segmentation?

The Solar Water Desalination Plant Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

• By Components
• Steering Column - Market Size & Forecast 2020-2030, USD Million
• Steering Gear - Market Size & Forecast 2020-2030, USD Million
• Sensor -Market Size & Forecast 2020-2030, USD Million
• Mechanical Pinion & Rack-Market Size & Forecast 2020-2030, USD Million
• Electronic Control Unit (ECU)-Market Size & Forecast 2020-2030, USD Million
• Electric Motor-Market Size & Forecast 2020-2030, USD Million
• Bearing-Market Size & Forecast 2020-2030, USD Million
• Others-Market Size & Forecast 2020-2030, USD Million
• By Type
• Column Assist Type (C-EPS)- Market Size & Forecast 2020-2030, USD Million
• Pinion Assist Type (P-EPS)- Market Size & Forecast 2020-2030, USD Million
• Rack Assist Type (R-EPS)- Market Size & Forecast 2020-2030, USD Million
• By Mechanism
• Collapsible- Market Size & Forecast 2020-2030, USD Million
• Rigid- Market Size & Forecast 2020-2030, USD Million
• By Fuel
• Petrol- Market Size & Forecast 2020-2030, USD Million
• Diesel- Market Size & Forecast 2020-2030, USD Million
• Natural Gas-Market Size & Forecast 2020-2030, USD Million
• Electric-Market Size & Forecast 2020-2030, USD Million
• Others-Market Size & Forecast 2020-2030, USD Million
• By Vehicle Type
• Passenger Cars & SUVs-Market Size & Forecast 2020-2030, USD Million
• Commercial Vehicles-Market Size & Forecast 2020-2030, USD Million
• Light Commercial Vehicles-Market Size & Forecast 2020-2030, USD Million
• Heavy Commercial Vehicles-Market Size & Forecast 2020-2030, USD Million
•  By Region
• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

 Explore the Complete Electric Power Steering (EPS) Market Analysis Report – https://www.marknteladvisors.com/research-library/electric-power-steering-market.html

Global Electric Power Steering Market Driver:

Increase in Electric Vehicle Sales – A rise in the demand for electric vehicles is observed due to urbanization, economic stability, an increase in the white-collar population, and others. These factors have resulted in a rise in disposable income, thus raising the ownership of vehicles. Along with this, the rise in consumer awareness has inclined the consumer towards environmentally friendly alternatives such as electric vehicles. The reduced maintenance cost and low emissions have further encouraged the global population to adopt electric vehicles. As per the International Energy Agency (IEA) 2024, sales of more than 3 million electric vehicles were observed in the first quarter of 2024, which is nearly 25% more than the sales in 2023. The dynamics of electric vehicles work on electricity; thus they use electric motors to empower steering.

Additionally, the installation of electric power steering reduces the weight of the vehicle, and its torque sensors make the vehicle convenient for driving. Hence, this pushes the demand for electric vehicles, further pushing the market growth.

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