Electric Power Steering Market by Component, Type, Mechanism, Motor Type, Application, off Highway, EV, and Region - Global Forecast to 2025
The electric power steering market is estimated to grow at a CAGR of 6.27% during the forecast period, to reach USD 42.01 billion by 2025. Increasing government norms related to air emission standards and fuel efficiency of vehicles are expected to drive the electric power steering market. The rising vehicle production, growing demand for advanced safety and convenience, and increased disposable incomes worldwide are some of the other factors driving the growth of the electric power steering market.
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