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The global automotive electric power steering market size is predicted to exceed US$ 30 Bn by 2030, expanding at a Compound annual growth rate (CAGR) of 3.1% from 2021 to 2030.

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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. Rise in sales of vehicles across the globe due to decline in tax rates on vehicles is also a key factor fueling the demand for electric power steering in vehicles. High demand for electric vehicles due to enactment of stringent emission norms is anticipated to further drive the automotive electric power steering market across the globe. 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.

Drivers

Rise in adoption of advanced electric components in vehicles to improve safety features is likely to boost the automotive electric power steering market. Vehicle manufacturers are using an increased number of electric components and systems in their vehicles to improve the quality and driving experience of their vehicles. Manufacturers are employing electronic devices and systems to increase the efficiency of their vehicles and monitor the working of all major components in order to identify faults, initially, before they become severe.

Penetration of electric power steering system is anticipated to rise at a notable pace during the forecast period, as the technology offers various advantages over the existing hydraulic power steering technology, including low maintenance cost and assistance in providing higher fuel efficiency.

Challenges

The COVID-19 pandemic has caused a majority of businesses across the globe to crumble, owing to the forced shutdown of production and manufacturing activities. This has led the global economy to contract to its lowest growth rate. Majority of businesses in every industry is codependent and part of major supply chain in the market. Disruption in supply chain attributing to stoppage of transportation and shipping services, and reduced demand for vehicles across the globe are likely to cause the global automotive industry to contract in Q1 and Q2 of 2020.

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.

PID Control Method Holds Potentials in Overcoming Operational Issues of EPS

Electric power steering (EPS) systems are being associated with energy savings, lightweight attributes, and smart driving. However, operational issues in these systems such as model uncertainties and external interference are being addressed by manufacturers. Hence, companies in the automotive electric power steering market are anticipated to team up with scholars and researchers who offer guidance on various control theories, which are improving the ergonomics of EPS.

Companies in the automotive electric power steering market are gaining a strong research base in the flexible PID (Proportional-Integral-Derivative) control method that provides real-time tracking ability. PID control method is considered a gold standard for improving the steering stability and sensitivity. PID parameters can be adjusted in real-time according to the operating environment, which makes the response capability of EPS system more fast and accurate.

OEMs Reduce Development Lead Time by Reviewing Control Program in EPS

Innovations in motor control units are facilitating improved handling and safety of vehicles. Japan-based DENSO Corporation— a global automotive components manufacturer, announced that it has developed a new EPS motor control unit (EPS-MCU), which has featured in TOYOTA NEW HARRIER that was launched in June 2020. The decline in the size of EPS systems is enabling cost and fuel savings.

Companies in the automotive electric power steering market are increasing efforts to reduce development lead-time by reviewing and reforming how the control program is adapted in different vehicles. Software innovations in the EPS-MCU are becoming prominent so that it automatically integrates into the vehicle after the unit is installed at the vehicle factory.

Report Highlights

• 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.
• 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.

Key Players

Prominent players operating in the global 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, TRIDEC, and Hitachi Automotive Systems.

Market Segmentation

By Motor Assist

• • Column Assist
  • Pinion Assist
  • Rack Assist

By Component

• • EPS Control Module
  • Electric Motor
  • Rack & Pinion
  • Steering Column

By Vehicle

• • Passenger Vehicle
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

By Technology

• • Conventional EPS
  • EPS with ADAS

By Region

• • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Table of Contents

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, 2020-2027

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, 2020-2027

8.1.1.     EPS Control Module

8.1.1.1.          Market Revenue and Forecast (2016-2027)

8.1.2.     Electric Motor

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, 2020-2027

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, 2020-2027

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.                 Sona Koyo Steering Systems Ltd.

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

12.4.1.  Company Overview

12.4.2.  Product Offerings

12.4.3.  Financial Performance

12.4.4.  Recent Initiatives

12.5.                 GKN plc.

12.5.1.  Company Overview

12.5.2.  Product Offerings

12.5.3.  Financial Performance

12.5.4.  Recent Initiatives

12.6.                 Robert Bosch GmbH

12.6.1.  Company Overview

12.6.2.  Product Offerings

12.6.3.  Financial Performance

12.6.4.  Recent Initiatives

12.7.                 NSK Ltd.

12.7.1.  Company Overview

12.7.2.  Product Offerings

12.7.3.  Financial Performance

12.7.4.  Recent Initiatives

12.8.                 Mitsubishi Electric Corporation

12.8.1.  Company Overview

12.8.2.  Product Offerings

12.8.3.  Financial Performance

12.8.4.  Recent Initiatives

12.9.                 China Automotive Systems, Inc.

12.9.1.  Company Overview

12.9.2.  Product Offerings

12.9.3.  Financial Performance

12.9.4.  Recent Initiatives

12.10.             Delphi Technologies

12.10.1.                  Company Overview

12.10.2.                  Product Offerings

12.10.3.                  Financial Performance

12.10.4.                  Recent Initiatives

12.11.             Hyundai Mobis

12.11.1.                  Company Overview

12.11.2.                  Product Offerings

12.11.3.                  Financial Performance

12.11.4.                  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

Research Methodology

The research methodology adopted by analysts for compiling the global automotive electric power steering market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.

During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global automotive electric power steering market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2021) and forecast (2021-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.

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