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Electric Power Steering Market segmentation By Type (C-EPS, P-EPS, R-EPS), By Component (Steering Column, Steering Wheel, Sensors, Electronic Control Unit, Electric Motor, Bearings Wheat), By Vehicle Type (Passenger Car, Medium And Heavy Commercial Vehicles, Light Commercial Vehicles, Off-Road Vehicles), By Mechanism (Collapsible EPS, Rigid EPS) - Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2022 to 2027.

Published: January, 2022
ID: 8591
Pages: 170

Electric Power Steering (EPS) Market Overview:

The global Electric Power Steering (EPS) Market is estimated to reach $37.3 billion by 2026, developing at a CAGR of 6.9% during the conjecture time frame from 2021 to 2026.

The steering system is a blend of different linkages which are proposed to turn vehicle in least span without over turning it. In contrast to ordinary steering, the cutting edge electronic force steering contains different electronic segments that help to diminish power and give exactness turning. The electronic power steering can improve eco-friendliness and driving experience.

The global Electric Power Steering market is driven essentially by the components, for example, expanding request of automated driving vehicles and the need towards green condition. In addition, rising ventures towards research and development for new advances are evaluated to infiltrate the market development in different nations during the conjecture time frame. Reception of electric power steering frameworks in commercial vehicles are likewise expected to check a tremendous development in the power steering frameworks during the foreseen time.

Recent Developments:

  • The earlier ZF Steering Systems GmbH is now being called as Robert Bosch Automotive Steering GmbH.
  • Bosch presents electric Power Steering with new degree of security. The electric force steering from Bosch empowers a free come back to negligible hazard condition with 50 percent help from electric steering through a fallback arrangement.
  • The Electronic Device Group of Mitsubishi Electric and Electronics USA, Inc., presented amazing "7600 Series" 8-bit, "M16C" 16-bit, and "M32R/E" 32-bit controller area network (CAN) MCUs for the North American vehicle market. Concentrated on security, solace, and comfort, Mitsubishi's CAN MCUs give superior, energy effectiveness, and highlight rich knowledge for key vehicle frameworks, for example, airbag/tenant detecting, electronic power steering (EPS), anti-lock brake system (ABS), powertrain, and body control applications.
  • ZF has propelled its first section drive steering framework in the US market, carrying with it the numerous preferences of electric steering advancements to US shoppers.

Drivers and Restraints of Electric Power Steering Market:

Drivers:

Expanding worldwide populace and a rise in the public's per capita pay is animating popularity for well-equipped vehicles. This, thus, is bringing about the fast development of the Global Electric Power Steering Market. Likewise, pressure on vehicle makers around the globe has been expanding to embrace innovative arrangements that fulfill energy effectiveness guidelines which are foreseen to additionally help the global electric power steering market size in the outlook period. Also, the consistent development in the vehicle division in quick developing economies like Asia and Latin America is further pushing the development of the business.

Restraints:

Despite what might be expected, when contrasted with the regular steering frameworks, the electric power steering frameworks are exorbitant. Likewise, it is been seen that such frameworks do not have the steering feel which could be a couple of the major limiting elements in the development of this market in the coming years.

Market Segmentation:

By Type:

  • C-EPS
  • P-EPS
  • R-EPS 

Worldwide Electric Power Steering Market for C-EPS fragment is foreseen to be the biggest over the assessed period. The frameworks are perfect for compact and little vehicles with the little motor compartment.

By Component:

  • Steering Column
  • Steering Wheel
  • Sensors
  • Electronic Control Unit
  • Electric Motor
  • Bearings Wheat

Worldwide Electric Power Steering Market for the Sensor is foreseen to be quickest developing during the calculated time frame. In the Electric power steering framework, the vehicle speed sensor furnishes the electronic control unit with data about the vehicle's speed. The market for non-contact torque sensors is relied upon to have potential development over the estimated time frame.

By Vehicle Type:

  • Passenger Car
  • Medium & Heavy Commercial Vehicles
  • Light Commercial Vehicles
  • Off-the-Road Vehicles 

The global Electric Power Steering market for Passenger Cars fragment is foreseen to be most significant during the projection period. The electric power steering business sector has its quality passenger vehicles from little passenger vehicles to SUV and pickup trucks is relied upon to develop further over the estimated time frame as the car manufacturing keeps on expanding everywhere throughout the world.

 By Mechanism:

  • Collapsible EPS
  • Rigid EPS

The Collapsible EPS section is foreseen to be biggest in the global business and also quickest developing over the evaluated time due to its favourable circumstances over the rigid steering column mechanism.

Electric Power Steering Market Region-wise analysis:

Marked Segmentation based on the region:

  1. North America
    1. U.S
    2. Canada 
  2. Europe
    1. Norway
    2. Germany
    3. Sweden
  3. Asia Pacific
    1. China
    2. India
    3. Japan
  4. Latin America
    1. Brazil
    2. Mexico
    3. Argentina
  5. Middle East and Africa

a. Middle East

b. Africa

North America is additionally foreseen to hold a significant share in 2019 at 38.2% because of rising interest for autonomous vehicles and ventures in research and development strategies. Starting at 2019, the area represents a main portion of 38.2% in the field of electric power steering frameworks. Substantial speculation towards innovation headway and government activities has helped the APAC market to develop at a fast rate. Key players like JTEKT Corporation and Hyundai Mobis Co. Ltd have contributed for a significant piece of the overall industry in the APAC area. Therefore, with expanding interest of vehicle industry embracing electric power steering framework is going about as a significant driver for the electric steering business. Europe is relied upon to have roaring development rate because of mature vehicle market. APAC is foreseen to have a significant development in the worldwide Electric Power Steering market over the calculated time from 2022 - 2027.

Key Players of Market:

The major players in the global electronic power steering market are organizations like Robert Bosch Automotive Steering GmbH, Mitsubishi Electric Corporation, ZF Friedrichshafen Group, Nexteer Automotive, NSK Global, JTEKT Corporation, SHOWA Corporation, Thyssenkrupp Presta AG, Mando Corporation, Hyundai Mobis, and Zhuzhou Elite Electro Mechanical Co. Ltd.

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Electric Power Steering Market, By Type               

                    6.1.1 C-EPS  

                    6.1.2 P-EPS  

                    6.1.3 R-EPS  

                    6.1.4 Market Size Estimations & Forecasts (2019-2024)        

                    6.1.5 Y-o-Y Growth Rate Analysis         

                    6.1.6 Market Attractiveness Index         

          6.2 Electric Power Steering Market, By Component               

                    6.2.1 Steering Column      

                    6.2.2 Steering Wheel         

                    6.2.3 Sensors         

                    6.2.4 Electronic Control Unit       

                    6.2.5 Electric Motor

                    6.2.6 Bearings Wheat        

                    6.2.7 Market Size Estimations & Forecasts (2019-2024)        

                    6.2.8 Y-o-Y Growth Rate Analysis         

                    6.2.9 Market Attractiveness Index         

          6.3 Electric Power Steering Market, By Vehicle Type              

                    6.3.1 Passenger Car

                    6.3.2 Medium And Heavy Commercial Vehicles

                    6.3.3 Light Commercial Vehicles 

                    6.3.4 Off-Road Vehicles    

                    6.3.5 Market Size Estimations & Forecasts (2019-2024)        

                    6.3.6 Y-o-Y Growth Rate Analysis         

                    6.3.7 Market Attractiveness Index         

          6.4 Electric Power Steering Market, By Mechanism                

                    6.4.1 Collapsible EPS        

                    6.4.2 Rigid EPS       

                    6.4.3 Market Size Estimations & Forecasts (2019-2024)        

                    6.4.4 Y-o-Y Growth Rate Analysis         

                    6.4.5 Market Attractiveness Index         

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region                   

          7.2 North America - Market Analysis (2018 - 2024)             

                    7.2.1 By Country     

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By Type         

                    7.2.3 By Component         

                    7.2.4 By Vehicle Type        

                    7.2.5 By Mechanism

          7.3 Europe             

                    7.3.1 By Country     

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By Type         

                    7.3.3 By Component         

                    7.3.4 By Vehicle Type        

                    7.3.5 By Mechanism

          7.4 Asia Pacific                 

                    7.4.1 By Country     

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By Type         

                    7.4.3 By Component         

                    7.4.4 By Vehicle Type        

                    7.4.5 By Mechanism

          7.5 Latin America             

                    7.5.1 By Country     

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By Type         

                    7.5.3 By Component         

                    7.5.4 By Vehicle Type        

                    7.5.5 By Mechanism

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By Type         

                    7.6.3 By Component         

                    7.6.4 By Vehicle Type        

                    7.6.5 By Mechanism

8. Key Player Analysis                           

          8.1 Robert Bosch Automotive Steering GmbH             

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 Mitsubishi Electric Corporation                  

          8.3 ZF Friedrichshafen Group                

          8.4 Nexteer Automotive              

          8.5 NSK Global                 

          8.6 JTEKT Corporation                 

          8.7 SHOWA Corporation              

          8.8 Thyssenkrupp Presta AG                 

          8.9 Mando Corporation               

          8.10 Hyundai Mobis          

9. Market Outlook & Investment Opportunities                     

Appendix                         

          List of Tables          

          List of Figures                  

  1. Global Electric Power Steering Market By Region, From 2022 - 2027 ( USD Billion )
  2. Global Electric Power Steering Market By Type, From 2022 - 2027 ( USD Billion )
  3. Global C-EPS Market By Region, From 2022 - 2027 ( USD Billion )
  4. Global P-EPS Market By Region, From 2022 - 2027 ( USD Billion )
  5. Global R-EPS Market By Region, From 2022 - 2027 ( USD Billion )
  6. Global Electric Power Steering Market By Component, From 2022 - 2027 ( USD Billion )
  7. Global Steering Column Market By Region, From 2022 - 2027 ( USD Billion )
  8. Global Steering Wheel Market By Region, From 2022 - 2027 ( USD Billion )
  9. Global Sensors Market By Region, From 2022 - 2027 ( USD Billion )
  10. Global Electronic Control Unit Market By Region, From 2022 - 2027 ( USD Billion )
  11. Global Electric Motor Market By Region, From 2022 - 2027 ( USD Billion )
  12. Global Bearings Wheat Market By Region, From 2022 - 2027 ( USD Billion )
  13. Global Electric Power Steering Market By Vehicle Type, From 2022 - 2027 ( USD Billion )
  14. Global Passenger Car Market By Region, From 2022 - 2027 ( USD Billion )
  15. Global Medium And Heavy Commercial Vehicles Market By Region, From 2022 - 2027 ( USD Billion )
  16. Global Light Commercial Vehicles Market By Region, From 2022 - 2027 ( USD Billion )
  17. Global Off-Road Vehicles Market By Region, From 2022 - 2027 ( USD Billion )
  18. Global Electric Power Steering Market By Mechanism, From 2022 - 2027 ( USD Billion )
  19. Global Collapsible EPS Market By Region, From 2022 - 2027 ( USD Billion )
  20. Global Rigid EPS Market By Region, From 2022 - 2027 ( USD Billion )

 

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