News wire article from our research archive:

JAPANESE STEERING SYSTEMS MARKET MOVES INTO HIGH GEAR

MUMBAI, India, Feb. 15 -- Frost & Sullivan issued the following press release:

The Japanese steering systems market is seeing an increasing shift in focus from hydraulic power steering (HPS) systems to electric power steering (EPS) systems mainly due to the fuel economy and other significant benefits offered by the latter. The stage is set for the rapid growth of EPS systems and the total market revenues are expected to increase from approximately [euro]1490.0 million in 2005 to [euro]1513.0 million in 2013 at a compound annual growth rate (CAGR) of 0.2 percent.

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