The Future Growth Potential of EPS Systems and Advanced Steering Technologies is Enhanced by ADAS and AD
This study provides an analysis of the European power steering market. Power steering has been widely adopted in the passenger vehicle industry in Europe as it enables fuel efficiency, ensures easy integration with other vehicle systems, improves steering performance, and provides enhanced assistance for advanced driver-assistance systems (ADAS) and autonomous driving (AD).
Focusing primarily on the electric power steering (EPS) ecosystem, the study analyzes the current market landscape and offers relevant market growth forecasts. The EPS market in Europe was valued at $2.4 billion in 2022. The market is expected to have a compound annual growth rate (CAGR) of 3% from 2022 to 2030, achieving a value of $3.1 billion by the end of the forecast period. The study provides a comprehensive analysis and forecast of the revenue and volume potential of different types of EPS systems, such as column-assist EPS, pinion-assist EPS, and rack-assist EPS. Additionally, it examines the impact of technological advancements, emerging trends, and industry challenges on the EPS market in Europe. The study also identifies the key factors driving and restraining the growth of the market and provides valuable insights to help industry stakeholders navigate the evolving EPS market in Europe and capitalize on the growth opportunities emerging out of this space.
KEY ISSUES ADDRESSED
- What are the different types of power steering systems?
- How is the EPS market expected to grow? What are the key drivers and restraints for the EPS market?
- Which are the key original equipment manufacturers (OEMs) and suppliers of EPS systems?
- What strategies are OEMs adopting for EPS manufacturing and deployment in Europe?
- What is the impact of technological advancements and emerging trends on the EPS market in Europe?
- What are the different growth opportunities for the EPS market in Europe until 2030?
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- BMW Group
- Bosch
- Daimler Group
- Ford Motor Company
- Hyundai Group
- Hyundai Mobis
- JTEKT Corporation
- Nexteer Automotive
- Stellantis
- Toyota Group
- Volkswagen Group
- ZF
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 92 |
| Published | June 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 2.4 Billion |
| Forecasted Market Value ( USD | $ 3.1 Billion |
| Compound Annual Growth Rate | 3.0% |
| Regions Covered | Europe |
