Global Electric Power Steering Market Opportunities and Forecast 2020-2027

  • DLR2893
  • 09 January, 2022
  • Automobile & Transportation
  • Pages: 120
  • Global
Global Electric Power Steering Market, By Components (Steering column, Sensors, Steering gear, Mechanical rack and pinion, Electronic control unit, Electric motor, Bearing), By Electric Motor (Brush motor, Brushless motor), By Application (Passenger Cars (PC), Commercial Vehicles (CV)), By Electric Vehicle (BEV, PHEV, FCEV), By EV Gear Type (Worm Gear, Ball Screw), By Type (Rack assist type (REPS), Colum assist type (CEPS), Pinion assist type (PEPS)), and opportunities and forecast 2020-2027

Electric Power Steering Market Overview

The global Electric Power Steering market is projected to grow at a considerable rate in the estimated period. In order to minimize complexity and boost the economy, OEMs have changed their focus from hydraulic to electric power steering systems in recent years. EPS systems give steering assistance by using an electric motor rather than a hydraulic pump, which helps to reduce vehicle weight. Electronic sensors calculate the amount of steering force applied by the driver, and the force is increased with the help of an electric motor to make steering easier. The increasing number of regulatory standards and obligations relating to fuel-efficient technology, steps taken by OEMs throughout the world to minimize the weight and complexity of their cars, and global expanding vehicle production are the primary growth factors for the industry.

On the negative side, the higher cost of EPS as compared to traditional steering systems and lack of steering feel can hamper the growth of the Electric Power Steering market.

Report Metric Details
Market size available for years 2019–2027
Base year considered 2019
Forecast period 2020–2027
Forecast unit Value (USD Million)
Segments covered Components, Electric Motor, Application, Electric Vehicle, EV Gear Type, Type, and Region.
Regions covered North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA)
Companies covered JTEKT, Nexteer, Robert Bosch, ZF, NSK.


Covid-19 Impact on Electric Power Steering Market

The outbreak of the covid-19 has a severe and swift impact on the automobile and transportation industry. This is majorly due to the shutdown of assembly plants in the US, interruptions across Europe in large-scale manufacturing, and disruption in the export of Chinese parts. In addition to this, the industry is dealing with reduced demand across the globe due to changes in customer behavior and shifts in a supply-demand chain. A recent study shows a 39% decline in sales of automotive all over the world. Moreover, the nationwide lockdowns have substantially affected the transportation sector. Restrictions on transportation accounted for a 45 to 55% decline in public as well as private transport sectors.

Electric Power Steering Market Segment Overview



According to Components, Sensors is one of the most prominent segments in the global Electric Power Steering market. A sensor is a device that monitors and responds to environmental input. Light, heat, motion, moisture, pressure, or any of a variety of other environmental phenomena could represent the specific input. Additionally, an electric motor is another major segment in the market. An electric motor is a machine that turns electricity into mechanical energy. The interaction between the motor's magnetic field and electric current in a wire winding generates force in the form of torque imparted to the motor's shaft in most electric motors.

Electric Power Steering Market, By Components
·       Steering column
·       Sensors
·       Steering gear
·       Mechanical rack and pinion
·       Electronic control unit
·       Electric motor
·       Bearing

Electric Power Steering Market, By Electric Motor
·       Brush motor
·       Brushless motor

Electric Power Steering Market, By Application
·       Passenger Cars (PC)
·       Commercial Vehicles (CV)

Electric Power Steering Market, By Electric Vehicle
·       BEV
·       PHEV
·       FCEV

Electric Power Steering Market, By EV Gear Type
·       Worm Gear
·       Ball Screw

Electric Power Steering Market, By Type
·       Rack assist type (REPS)
·       Colum assist type (CEPS)
·       Pinion assist type (PEPS)

Electric Power Steering Regional Overview

Geographically, Asia Pacific is one of the major regions for the global Electric Power Steering market. During the projected period, the electric power steering market in the Asia Pacific is expected to develop at the fastest rate. The Asia Pacific is the largest and fastest-growing market for electric power steering, because of high volume markets and increased demand for electronic and fuel-efficient systems in passenger automobiles. Furthermore, existing and pending car pollution laws in developing countries will boost regional market expansion. Moreover, North America and Europe are other key region for the global Electric Power Steering market.
 
Electric Power Steering Market, By Geography
·       North America (US & Canada)
·       Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
·       Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
·       LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
 
Electric Power Steering Market, Key Players

·       JTEKT 
·       Nexteer 
·       Robert Bosch 
·       ZF 
·       NSK

Frequently Asked Questions (FAQ) :

Q1. What are the driving factors for the Electric Power Steering market?

A. The increasing number of regulatory standards and obligations relating to fuel-efficient technology, steps taken by OEMs throughout the world to minimise the weight and complexity of their cars, and global expanding vehicle production are the primary growth factors for the industry

Q2. What are the restraining factors for the Electric Power Steering market?

A. The higher cost of EPS as compared to traditional steering systems and lack of steering feel can hamper the growth of the Electric Power Steering market

Q3. Which segment is projected to hold the largest share in the Electric Power Steering market.?

A. Sensors segment is projected to hold the largest share in the Electric Power Steering market

Q4. Which region is holds largest share in the Electric Power Steering market?

A. Asia Pacific held largest share in the global Electric Power Steering market

Q5. Which are the prominent players in the Electric Power Steering market?

A. JTEKT, Nexteer, Robert Bosch, ZF, NSK. are some key players in the Electric Power Steering market.
Electric Power Steering Market Study Global Market Analysis, Insights and Forecast, 2020-2027

    1. Introduction

    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Methodology
    • 1.4. Definitions and Assumptions

    2. Executive Summary

      3. Market Dynamics

      • 3.1. Market Drivers
      • 3.2. Market Restraints
      • 3.3. Market Opportunities

      4. Key Insights

      • 4.1. Key Emerging Trends – For Major Countries
      • 4.2. Latest Technological Advancement
      • 4.3. Regulatory Landscape
      • 4.4. Industry SWOT Analysis
      • 4.5. Porters Five Forces Analysis

      5. Global Electric Power Steering Market Analysis (USD Billion), Insights and Forecast, 2020-2027

      • 5.1. Key Findings / Summary
      • 5.2. Market Analysis, Insights and Forecast – By Components
        • 5.2.1. Steering column
        • 5.2.2. Sensors
        • 5.2.3. Steering gear
        • 5.2.4. Mechanical rack and pinion
        • 5.2.5. Electronic control unit
        • 5.2.6. Electric motor
        • 5.2.7. Bearing
      • 5.3. Market Analysis, Insights and Forecast – By Electric Motor
        • 5.3.1. Brush motor
        • 5.3.2. Brushless motor
      • 5.4. Market Analysis, Insights and Forecast – By Application
        • 5.4.1. Passenger Cars (PC)
        • 5.4.2. Commercial Vehicles (CV)
      • 5.5. Market Analysis, Insights and Forecast – By Electric Vehicle
        • 5.5.1. BEV
        • 5.5.2. PHEV
        • 5.5.3. FCEV
      • 5.6. Market Analysis, Insights and Forecast – By EV Gear Type
        • 5.6.1. Worm Gear
        • 5.6.2. Ball Screw
      • 5.7. Market Analysis, Insights and Forecast – By Type
        • 5.7.1. Rack assist type (REPS)
        • 5.7.2. Colum assist type (CEPS)
        • 5.7.3. Pinion assist type (PEPS)
      • 5.8. Market Analysis, Insights and Forecast – By Region
        • 5.8.1. North America
        • 5.8.2. Europe
        • 5.8.3. Asia Pacific
        • 5.8.4. Latin America, Middle East and Africa

      6. North America Electric Power Steering Market Analysis (USD Billion), Insights and Forecast, 2020-2027

      • 6.1. Key Findings / Summary
      • 6.2. Market Analysis, Insights and Forecast – By Components
        • 6.2.1. Steering column
        • 6.2.2. Sensors
        • 6.2.3. Steering gear
        • 6.2.4. Mechanical rack and pinion
        • 6.2.5. Electronic control unit
        • 6.2.6. Electric motor
        • 6.2.7. Bearing
      • 6.3. Market Analysis, Insights and Forecast – By Electric Motor
        • 6.3.1. Brush motor
        • 6.3.2. Brushless motor
      • 6.4. Market Analysis, Insights and Forecast – By Application
        • 6.4.1. Passenger Cars (PC)
        • 6.4.2. Commercial Vehicles (CV)
      • 6.5. Market Analysis, Insights and Forecast – By Electric Vehicle
        • 6.5.1. BEV
        • 6.5.2. PHEV
        • 6.5.3. FCEV
      • 6.6. Market Analysis, Insights and Forecast – By EV Gear Type
        • 6.6.1. Worm Gear
        • 6.6.2. Ball Screw
      • 6.7. Market Analysis, Insights and Forecast – By Type
        • 6.7.1. Rack assist type (REPS)
        • 6.7.2. Colum assist type (CEPS)
        • 6.7.3. Pinion assist type (PEPS)
      • 6.8. Market Analysis, Insights and Forecast – By Country
        • 6.8.1. U.S.
        • 6.8.2. Canada

      7. Europe Electric Power Steering Market Analysis (USD Billion), Insights and Forecast, 2020-2027

      • 7.1. Key Findings / Summary
      • 7.2. Market Analysis, Insights and Forecast – By Components
        • 7.2.1. Steering column
        • 7.2.2. Sensors
        • 7.2.3. Steering gear
        • 7.2.4. Mechanical rack and pinion
        • 7.2.5. Electronic control unit
        • 7.2.6. Electric motor
        • 7.2.7. Bearing
      • 7.3. Market Analysis, Insights and Forecast – By Electric Motor
        • 7.3.1. Brush motor
        • 7.3.2. Brushless motor
      • 7.4. Market Analysis, Insights and Forecast – By Application
        • 7.4.1. Passenger Cars (PC)
        • 7.4.2. Commercial Vehicles (CV)
      • 7.5. Market Analysis, Insights and Forecast – By Electric Vehicle
        • 7.5.1. BEV
        • 7.5.2. PHEV
        • 7.5.3. FCEV
      • 7.6. Market Analysis, Insights and Forecast – By EV Gear Type
        • 7.6.1. Worm Gear
        • 7.6.2. Ball Screw
      • 7.7. Market Analysis, Insights and Forecast – By Type
        • 7.7.1. Rack assist type (REPS)
        • 7.7.2. Colum assist type (CEPS)
        • 7.7.3. Pinion assist type (PEPS)
      • 7.8. Market Analysis, Insights and Forecast – By Country
        • 7.8.1. UK
        • 7.8.2. Germany
        • 7.8.3. France
        • 7.8.4. Italy
        • 7.8.5. Spain
        • 7.8.6. Russia
        • 7.8.7. Rest of Europe

      8. Asia Pacific Electric Power Steering Market Analysis (USD Billion), Insights and Forecast, 2020-2027

      • 8.1. Key Findings / Summary
      • 8.2. Market Analysis, Insights and Forecast – By Components
        • 8.2.1. Steering column
        • 8.2.2. Sensors
        • 8.2.3. Steering gear
        • 8.2.4. Mechanical rack and pinion
        • 8.2.5. Electronic control unit
        • 8.2.6. Electric motor
        • 8.2.7. Bearing
      • 8.3. Market Analysis, Insights and Forecast – By Electric Motor
        • 8.3.1. Brush motor
        • 8.3.2. Brushless motor
      • 8.4. Market Analysis, Insights and Forecast – By Application
        • 8.4.1. Passenger Cars (PC)
        • 8.4.2. Commercial Vehicles (CV)
      • 8.5. Market Analysis, Insights and Forecast – By Electric Vehicle
        • 8.5.1. BEV
        • 8.5.2. PHEV
        • 8.5.3. FCEV
      • 8.6. Market Analysis, Insights and Forecast – By EV Gear Type
        • 8.6.1. Worm Gear
        • 8.6.2. Ball Screw
      • 8.7. Market Analysis, Insights and Forecast – By Type
        • 8.7.1. Rack assist type (REPS)
        • 8.7.2. Colum assist type (CEPS)
        • 8.7.3. Pinion assist type (PEPS)
      • 8.8. Market Analysis, Insights and Forecast – By Country
        • 8.8.1. China
        • 8.8.2. India
        • 8.8.3. Japan
        • 8.8.4. Australia
        • 8.8.5. South East Asia
        • 8.8.6. Rest of Asia Pacific

      9. Latin America, Middle East and Africa Electric Power Steering Market Analysis (USD Billion), Insights and Forecast, 2020-2027

      • 9.1. Key Findings / Summary
      • 9.2. Market Analysis, Insights and Forecast – By Components
        • 9.2.1. Steering column
        • 9.2.2. Sensors
        • 9.2.3. Steering gear
        • 9.2.4. Mechanical rack and pinion
        • 9.2.5. Electronic control unit
        • 9.2.6. Electric motor
        • 9.2.7. Bearing
      • 9.3. Market Analysis, Insights and Forecast – By Electric Motor
        • 9.3.1. Brush motor
        • 9.3.2. Brushless motor
      • 9.4. Market Analysis, Insights and Forecast – By Application
        • 9.4.1. Passenger Cars (PC)
        • 9.4.2. Commercial Vehicles (CV)
      • 9.5. Market Analysis, Insights and Forecast – By Electric Vehicle
        • 9.5.1. BEV
        • 9.5.2. PHEV
        • 9.5.3. FCEV
      • 9.6. Market Analysis, Insights and Forecast – By EV Gear Type
        • 9.6.1. Worm Gear
        • 9.6.2. Ball Screw
      • 9.7. Market Analysis, Insights and Forecast – By Type
        • 9.7.1. Rack assist type (REPS)
        • 9.7.2. Colum assist type (CEPS)
        • 9.7.3. Pinion assist type (PEPS)
      • 9.8. Market Analysis, Insights and Forecast – By Country
        • 9.8.1. Brazil
        • 9.8.2. Saudi Arabia
        • 9.8.3. UAE
        • 9.8.4. Rest of LAMEA

      10. Competitive Analysis

      • 10.1. Company Market Share Analysis, 2018
      • 10.2. Key Industry Developments
      • 10.3. Company Profile
      • 10.4. JTEKT
        • 10.4.1. Business Overview
        • 10.4.2. Segment 1 & Service Offering
        • 10.4.3. Overall Revenue
        • 10.4.4. Geographic Presence
        • 10.4.5. Recent Development
      *Similar details will be provided for the following companies
      • 10.5. Nexteer
      • 10.6. Robert Bosch
      • 10.7. ZF

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