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Automotive Electric Power Steering Market 2021 Details About Key Players and Future Analysis and forecast to 2027

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The global Automotive Electric Power Steering market was recorded to have a sales value of US$ 25.9 Billion in 2020. The market is expected to grow in terms of volume sales at a CAGR of  6.1% during the period 2021-2027. The Automotive Electric Power Steering market is expected to reach market size of US$ 35.9 Billion in 2027.

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Growth Factors:

Rise in demand for advanced safety features in vehicles, including lane assistance and blind spot detection, is projected to fuel the demand for electronic components in vehicles. This, in turn, is likely to propel the automotive electric power steering market across the globe. The growing consumer trend toward advanced drive assist systems in vehicles is prompting vehicle manufacturers to integrate the electric power steering in their vehicles. Major vehicle manufacturers are reducing their vehicles’ weight to enhance fuel-efficiency, which is likely to propel the demand for electric power steering systems in vehicles.

Electric Power Steering Market  of Dynamics :
Drivers of the electric power steering market: Global measures by OEMs to reduce complexity and weight of vehicles
Over the last few years, OEMs have shifted focus from hydraulic to electric power steering systems in the interests of reduced complexity and increased efficiency. EPS systems use an electric motor instead of a hydraulic pump to provide steering assistance and thus help to reduce the weight of the vehicle. Electronic sensors calculate the amount of steering force being applied by the driver and, with the help of an electric motor, the force is amplified to make steering easier

Restraints of the electric power steering market: 
Despite the high demand for electric power steering systems, this market still experiences certain obstacles. The higher cost of EPS as compared to traditional steering systems and lack of steering feel can hinder the growth of the market.

electric power steering market:  Opportunities 
Presently, the power steering market of commercial vehicles is dominated by hydraulic power steering (HPS), which has a complicated structure, consumes high power, leaks easily, and is difficult to control. EPS offers the advantages of adjustable power, good steering, low fuel consumption, and no pollution. Therefore, it would gradually be used in commercial vehicles. The automotive electric power steering system comprises a large number of electronic components, and the failure of electronic is a major factor restraining the automotive electric power steering market. Furthermore, a few consumers prefer hydraulic power steering system over electric power steering system, which, in turn, is estimated to hamper the electric power steering market.

Market: Segments analysis:

The global automotive electric power steering market has been segmented based on motor assist, component, vehicle, technology, and region

Based on motor assist, the column assist segment dominated the global automotive electric power steering market. Column assist is widely used in passenger vehicles, and a rise in the sale of passenger vehicles across the globe is anticipated to increase the demand for column assist power steering systems in vehicles.

Based on technology, the EPS with ADAS is a prominent segment of the global automotive electric power steering market. Technological advancements in vehicles, which include lane departure warning system and blind spot detection system, are likely to increase the penetration of EPS with ADAS technologies in vehicles. This, in turn, is estimated to boost the automotive electric power steering market across the globe.

Regional analysis:

The global automotive electric power steering market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the global automotive electric power steering market in 2020. It is anticipated to hold a leading market share during the forecast period, as rapid expansion of electric component manufacturing industries across the region is likely to propel the automotive electric power steering market across the region. Europe is estimated to hold a significant share of the global automotive electric power steering market, owing to an increase in the demand for electric vehicles across the region.

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Recent report on the Automotive Electric Power Steering market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the Automotive Electric Power Steering market analyzes the scenario for the period of 2017 to 2027, wherein, 2021 is the base year and 2020 is historical data. This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study. The report also provides the compound annual growth rate (CAGR) of the global Automotive Electric Power Steering market for the forecast period of 2021–2027. This data can help readers interpret quantitative growth aspects of the global market during the forecast period. It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global market across the globe.

The report analyzes the historical and present-day scenario of the global Automotive Electric Power Steering market to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global market in order to identify opportunities for stakeholders.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments in the scope of the study. Moreover, the report sheds light on the changing competitive dynamics in the Automotive Electric Power Steering market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the market.

The report delves into the competition landscape of the global Automotive Electric Power Steering market. Key players operating in the market have been identified and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the Automotive Electric Power Steering market that are profiled in this report.

Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments are provided in the report. The Automotive Electric Power Steering market is analyzed at both regional and country levels.

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Some of the prominent players in the Automotive Electric Power Steering Market include: JTEKT Corporation, DENSO Corporation, Sona Koyo Steering Systems Ltd., ZF Friedrichshafen AG, GKN plc., Robert Bosch GmbH, NSK Ltd., Mitsubishi Electric Corporation, China Automotive Systems, Inc., Delphi Technologies, Hyundai Mobis, Thyssenkrupp Business Area Components Technology, SHOWA Corporation, Mando Corp., Global Steering Systems, Zhejiang Shibao Company Limited

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:

Market: Segmentation

  • Automotive Electric Power Steering Market, by Motor Assist
    • Column Assist
    • Pinion Assist
    • Rack Assist
  • Automotive Electric Power Steering Market, by Component
    • EPS Control Module
    • Electric Motor
    • Rack & Pinion
    • Steering Column
  • Automotive Electric Power Steering Market, by Vehicle
    • Passenger Vehicle
    • Light Commercial Vehicle
    • Heavy Commercial Vehicle
  • Automotive Electric Power Steering Market, by Technology
    • Conventional EPS
    • EPS with ADAS

Research Methodology

A unique research methodology has been utilized to conduct a comprehensive research on the growth of the global Automotive Electric Power Steering market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions. Secondary sources referred to by analysts during the production of the global market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of our study on the market as a primary source.

These primary and secondary sources provided exclusive information during interviews, which serves as a validation from mattress topper industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global Automotive Electric Power Steering market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped to estimates the future prospects of the global market more reliable and accurate.

Key Questions are

  • What are the key factors influencing the Automotive Electric Power Steering market in each region?
  • How much value will the global market generate by the end of the forecast period?
  • What will be the CAGR of the global market between 2021 and 2027?
  • What would be the Y-o-Y growth trend of the global market between 2021 and 2027?
  • What is the future scope and current trends in technologies of the global market?
  • What is the revenue of the global market based on segments?
  • Which key strategies are used by top players of the global market?
  • Which are the leading companies in the global market?
  • What are the essential strategies by key stakeholders in the market to expand their geographic presence?
  • What are the major advancements witnessed in the global market?

Why should you invest in this report?

If you are aiming to enter the global Automotive Electric Power Steering market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Automotive Electric Power Steering are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

TABLE OF CONTENT

Chapter 1.    Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.    Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.    Executive Summary

3.1.  Market Snapshot

Chapter 4.    Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.     Raw Material Procurement Analysis

4.3.2.     Sales and Distribution Channel Analysis

4.3.3.     Downstream Buyer Analysis

Chapter 5.    Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.     Market Drivers

5.1.2.     Market Restraints

5.1.3.     Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.     Bargaining power of suppliers

5.2.2.     Bargaining power of buyers

5.2.3.     Threat of substitute

5.2.4.     Threat of new entrants

5.2.5.     Degree of competition

Chapter 6.    Competitive Landscape

6.1.1.     Company Market Share/Positioning Analysis

6.1.2.     Key Strategies Adopted by Players

6.1.3.     Vendor Landscape

6.1.3.1.          List of Suppliers

6.1.3.2.          List of Buyers

Chapter 7.    Global  Automotive Electric Power Steering Market, By Motor Assist

7.1.   Automotive Electric Power Steering  Market, By Motor Assist, 2021-2027

7.1.1.     Column Assist

7.1.1.1.          Market Revenue and Forecast (2016-2027)

7.1.2.     Pinion Assist

7.1.2.1.          Market Revenue and Forecast (2016-2027)

7.1.3.     Rack Assist

7.1.3.1.          Market Revenue and Forecast (2016-2027)

Chapter 8.    Global  Automotive Electric Power Steering Market, By Component

8.1.   Automotive Electric Power Steering  Market, by Component, 2021-2027

8.1.1.     EPS Control Module

8.1.1.1.          Market Revenue and Forecast (2016-2027)

8.1.2.     EPS Control Module

8.1.2.1.          Market Revenue and Forecast (2016-2027)

8.1.3.     Rack & Pinion

8.1.3.1.          Market Revenue and Forecast (2016-2027)

8.1.4.     Steering Column

8.1.4.1.          Market Revenue and Forecast (2016-2027)

Chapter 9.    Global  Automotive Electric Power Steering Market, By Vehicle

9.1.   Automotive Electric Power Steering  Market, by Vehicle, 2021-2027

9.1.1.     Passenger Vehicle

9.1.1.1.          Market Revenue and Forecast (2016-2027)

9.1.2.     Light Commercial Vehicle

9.1.2.1.          Market Revenue and Forecast (2016-2027)

9.1.3.     Heavy Commercial Vehicle

9.1.3.1.          Market Revenue and Forecast (2016-2027)

Chapter 10.Global  Automotive Electric Power Steering Market, By Technology

10.1.           Automotive Electric Power Steering  Market, by Technology, 2021-2027

10.1.1.  Conventional EPS

10.1.1.1.       Market Revenue and Forecast (2016-2027)

10.1.2.  EPS with ADAS

10.1.2.1.       Market Revenue and Forecast (2016-2027)

Chapter 11.Global  Automotive Electric Power Steering  Market, Regional Estimates and Trend Forecast

11.1.          North America

11.1.1.  Market Revenue and Forecast, By Motor Assist (2016-2027)

11.1.2.  Market Revenue and Forecast, by Component (2016-2027)

11.1.3.  Market Revenue and Forecast, by Vehicle (2016-2027)

11.1.4.  Market Revenue and Forecast, by Technology (2016-2027)

11.1.5.  U.S.

11.1.5.1.       Market Revenue and Forecast, By Motor Assist (2016-2027)

11.1.5.2.       Market Revenue and Forecast, by Component (2016-2027)

11.1.5.3.       Market Revenue and Forecast, by Vehicle (2016-2027)

11.1.5.4.       Market Revenue and Forecast, by Technology (2016-2027)

11.1.6.  Rest of North America

11.1.6.1.       Market Revenue and Forecast, By Motor Assist (2016-2027)

11.1.6.2.       Market Revenue and Forecast, by Component (2016-2027)

11.1.6.3.       Market Revenue and Forecast, by Vehicle (2016-2027)

11.1.6.4.       Market Revenue and Forecast, by Technology (2016-2027)

11.2.          Europe

11.2.1.  Market Revenue and Forecast, By Motor Assist (2016-2027)

11.2.2.  Market Revenue and Forecast, by Component (2016-2027)

11.2.3.  Market Revenue and Forecast, by Vehicle (2016-2027)

11.2.4.  Market Revenue and Forecast, by Technology (2016-2027)

11.2.5.  UK

11.2.5.1.       Market Revenue and Forecast, By Motor Assist (2016-2027)

11.2.5.2.       Market Revenue and Forecast, by Component (2016-2027)

11.2.5.3.       Market Revenue and Forecast, by Vehicle (2016-2027)

11.2.5.4.       Market Revenue and Forecast, by Technology (2016-2027)

11.2.6.  Germany

11.2.6.1.       Market Revenue and Forecast, By Motor Assist(2016-2027)

11.2.6.2.       Market Revenue and Forecast, by Component (2016-2027)

11.2.6.3.       Market Revenue and Forecast, by Vehicle (2016-2027)

11.2.6.4.       Market Revenue and Forecast, by Technology (2016-2027)

11.2.7.  France

11.2.7.1.       Market Revenue and Forecast, By Motor Assist (2016-2027)

11.2.7.2.       Market Revenue and Forecast, by Component (2016-2027)

11.2.7.3.       Market Revenue and Forecast, by Vehicle (2016-2027)

11.2.7.4.       Market Revenue and Forecast, by Technology (2016-2027)

11.2.8.  Rest of Europe

11.2.8.1.       Market Revenue and Forecast, By Motor Assist (2016-2027)

11.2.8.2.       Market Revenue and Forecast, by Component (2016-2027)

11.2.8.3.       Market Revenue and Forecast, by Vehicle (2016-2027)

11.2.8.4.       Market Revenue and Forecast, by Technology (2016-2027)

11.3.          APAC

11.3.1.  Market Revenue and Forecast, By Motor Assist (2016-2027)

11.3.2.  Market Revenue and Forecast, by Component (2016-2027)

11.3.3.  Market Revenue and Forecast, by Vehicle (2016-2027)

11.3.4.  Market Revenue and Forecast, by Technology (2016-2027)

11.3.5.  India

11.3.5.1.       Market Revenue and Forecast, By Motor Assist (2016-2027)

11.3.5.2.       Market Revenue and Forecast, by Component (2016-2027)

11.3.5.3.       Market Revenue and Forecast, by Vehicle (2016-2027)

11.3.5.4.       Market Revenue and Forecast, by Technology (2016-2027)

11.3.6.  China

11.3.6.1.       Market Revenue and Forecast, By Motor Assist (2016-2027)

11.3.6.2.       Market Revenue and Forecast, by Component (2016-2027)

11.3.6.3.       Market Revenue and Forecast, by Vehicle (2016-2027)

11.3.6.4.       Market Revenue and Forecast, by Technology (2016-2027)

11.3.7.  Japan

11.3.7.1.       Market Revenue and Forecast, By Motor Assist (2016-2027)

11.3.7.2.       Market Revenue and Forecast, by Component (2016-2027)

11.3.7.3.       Market Revenue and Forecast, by Vehicle (2016-2027)

11.3.7.4.       Market Revenue and Forecast, by Technology (2016-2027)

11.3.8.  Rest of APAC

11.3.8.1.       Market Revenue and Forecast, By Motor Assist (2016-2027)

11.3.8.2.       Market Revenue and Forecast, by Component (2016-2027)

11.3.8.3.       Market Revenue and Forecast, by Vehicle (2016-2027)

11.3.8.4.       Market Revenue and Forecast, by Technology (2016-2027)

11.4.          MEA

11.4.1.  Market Revenue and Forecast, By Motor Assist (2016-2027)

11.4.2.  Market Revenue and Forecast, by Component (2016-2027)

11.4.3.  Market Revenue and Forecast, by Vehicle (2016-2027)

11.4.4.  Market Revenue and Forecast, by Technology (2016-2027)

11.4.5.  GCC

11.4.5.1.       Market Revenue and Forecast, By Motor Assist (2016-2027)

11.4.5.2.       Market Revenue and Forecast, by Component (2016-2027)

11.4.5.3.       Market Revenue and Forecast, by Vehicle (2016-2027)

11.4.5.4.       Market Revenue and Forecast, by Technology (2016-2027)

11.4.6.  North Africa

11.4.6.1.       Market Revenue and Forecast, By Motor Assist (2016-2027)

11.4.6.2.       Market Revenue and Forecast, by Component (2016-2027)

11.4.6.3.       Market Revenue and Forecast, by Vehicle (2016-2027)

11.4.6.4.       Market Revenue and Forecast, by Technology (2016-2027)

11.4.7.  South Africa

11.4.7.1.       Market Revenue and Forecast, By Motor Assist (2016-2027)

11.4.7.2.       Market Revenue and Forecast, by Component (2016-2027)

11.4.7.3.       Market Revenue and Forecast, by Vehicle (2016-2027)

11.4.7.4.       Market Revenue and Forecast, by Technology (2016-2027)

11.4.8.  Rest of MEA

11.4.8.1.       Market Revenue and Forecast, By Motor Assist (2016-2027)

11.4.8.2.       Market Revenue and Forecast, by Component (2016-2027)

11.4.8.3.       Market Revenue and Forecast, by Vehicle (2016-2027)

11.4.8.4.       Market Revenue and Forecast, by Technology (2016-2027)

11.5.          Latin America

11.5.1.  Market Revenue and Forecast, By Motor Assist (2016-2027)

11.5.2.  Market Revenue and Forecast, by Component (2016-2027)

11.5.3.  Market Revenue and Forecast, by Vehicle (2016-2027)

11.5.4.  Market Revenue and Forecast, by Technology (2016-2027)

11.5.5.  Brazil

11.5.5.1.       Market Revenue and Forecast, By Motor Assist (2016-2027)

11.5.5.2.       Market Revenue and Forecast, by Component (2016-2027)

11.5.5.3.       Market Revenue and Forecast, by Vehicle (2016-2027)

11.5.5.4.       Market Revenue and Forecast, by Technology (2016-2027)

11.5.6.  Rest of LATAM

11.5.6.1.       Market Revenue and Forecast, By Motor Assist (2016-2027)

11.5.6.2.       Market Revenue and Forecast, by Component (2016-2027)

11.5.6.3.       Market Revenue and Forecast, by Vehicle (2016-2027)

11.5.6.4.       Market Revenue and Forecast, by Technology (2016-2027)

Chapter 12.   Company Profiles

12.1.                 JTEKT Corporation

12.1.1.  Company Overview

12.1.2.  Product Offerings

12.1.3.  Financial Performance

12.1.4.  Recent Initiatives

12.2.                 DENSO Corporation

12.2.1.  Company Overview

12.2.2.  Product Offerings

12.2.3.  Financial Performance

12.2.4.  Recent Initiatives

12.3.                 DENSO Corporation

12.3.1.  Company Overview

12.3.2.  Product Offerings

12.3.3.  Financial Performance

12.3.4.  Recent Initiatives

12.4.                 ZF Friedrichshafen AG, GKN plc.

12.4.1.  Company Overview

12.4.2.  Product Offerings

12.4.3.  Financial Performance

12.4.4.  Recent Initiatives

12.5.                 Robert Bosch GmbH, NSK Ltd.

12.5.1.  Company Overview

12.5.2.  Product Offerings

12.5.3.  Financial Performance

12.5.4.  Recent Initiatives

12.6.                 Mitsubishi Electric Corporation

12.6.1.  Company Overview

12.6.2.  Product Offerings

12.6.3.  Financial Performance

12.6.4.  Recent Initiatives

12.7.                 Mitsubishi Electric Corporation

12.7.1.  Company Overview

12.7.2.  Product Offerings

12.7.3.  Financial Performance

12.7.4.  Recent Initiatives

12.8.                 Delphi Technologies

12.8.1.  Company Overview

12.8.2.  Product Offerings

12.8.3.  Financial Performance

12.8.4.  Recent Initiatives

12.9.                 Delphi Technologies

12.9.1.  Company Overview

12.9.2.  Product Offerings

12.9.3.  Financial Performance

12.9.4.  Recent Initiatives

12.10.              Thyssenkrupp Business Area Components Technology

12.10.1.                   Company Overview

12.10.2.                   Product Offerings

12.10.3.                   Financial Performance

12.10.4.                   Recent Initiatives

Chapter 13.   Research Methodology

13.1.                 Primary Research

13.2.                 Secondary Research

13.3.                 Assumptions

Chapter 14.   Appendix

14.1.                 About Us

14.2.                 Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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