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Automotive Electric Power Steering Market By Type, By Vehicle Type, By Propulsion Type, By Component: Global Opportunity Analysis and Industry Forecast, 2023-2032

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    Report

  • 293 Pages
  • June 2023
  • Region: Global
  • Allied Market Research
  • ID: 5879205
Description Jump to:
Electric power steering (EPS) is Increasingly installed in electric vehicles due to its efficiency and compatibility with electric drivetrains. EPS helps optimize the energy consumption of EVs by operating more efficiently compared to traditional hydraulic power steering systems. Additionally, the electric motor used in EPS can be integrated with other vehicle systems to support advanced driver-assistance features, such as lane-keeping assist and automated parking.

EPS (Electric Power Steering System), utilized in ICE vehicles, employs an electric motor to aid the driver in steering by applying torque to either the steering column or the steering rack. This assistance reduces the effort required to turn the wheels. The adoption of an electric power steering system is gaining traction owing to the positive impact on fuel efficiency. By eliminating the need for a hydraulic pump driven by the engine, EPS decreases the load on the engine, leading to enhanced fuel economy. In addition, EPS systems in modern ICE vehicles often Incorporate additional features such as variable assistance, speed-sensitive assistance, and advanced driver assistance system (ADAS) integration.

EPS (Electric Power Steering) plays a crucial role in electric vehicles (EVs) by providing steering assistance to drivers. The main purpose of EPS in electric vehicles is to help drivers steer by applying torque to the steering column or rack. This assistance reduces the effort required to turn the wheels, resulting in smoother and more responsive steering. Innovative advancements in EVs Include the exploration of drive-by-wire systems, which eliminate the physical-mechanical connection between the steering wheel and the wheels. Instead, EPS works with other electronic systems to convert the driver's input into steering commands. This technology offers Increased design flexibility and paves the way for advanced driver assistance features. Such factors are expected to drive the growth of the segment.

By component, the automotive electric power steering market is segmented into electric control unit, electric motor, rack and pinion, steering column, and others. The Electric Control Unit (ECU) is a crucial component within an Electric Power Steering (EPS) system. It acts as the central controller, responsible for monitoring and regulating the system's operation. The ECU receives inputs from various sensors and analyzes data such as steering input from the driver and vehicle speed. Using this information, it calculates the optimal amount of power assistance required for the steering system.

Constantly monitoring the driver's steering input and relevant vehicle parameters, the ECU ensures that the appropriate level of power assistance is provided. A steering control module within the EPS system is a crucial component in electric power steering (EPS) systems that help manage the steering operation in vehicles. Manufacturers offer electronic control units to meet the Increased demand for advanced steering control systems in the automotive industry. For instance, in July 2019, Hella, one of the leading automotive technology companies announced the expansion of its portfolio of steering control modules. Such developments to developing reliable and efficient steering control modules contribute to the advancement of electric power steering technology.

The electric motor is a critical component in an Electric Power Steering (EPS) system as it provides power assistance to the steering mechanism. This motor is an electrically powered device that aids the driver in turning the steering wheel, making it easier to navigate the vehicle. It is usually integrated into the steering system, either positioned on the steering column (Column EPS) or in proximity to the steering rack (Rack EPS). The exact placement may vary depending on the specific design and setup of the EPS system.

Numerous manufacturers provide advanced electric motors for electric power steering systems to enable the smooth and precise operation of EPS systems, enhancing the overall driving experience for vehicle occupants. For instance, MAHLE offers motors designed for electromechanical power steering systems (EPS). These motors are responsible for providing the necessary power assistance to the steering mechanism in vehicles. They exhibit extremely low cogging torque, which refers to the resistance felt when rotating the motor's rotor in small Increments. This low-cogging torque contributes to smoother and more precise steering movements. Moreover, Nidec Corporation, a manufacturer and distributor of electric motors provides compact and high-precision power steering (EPS) motors. In addition, there is a rise in the focus on the development of compact and lightweight electric motors for Electric Power Steering (EPS) systems. This emphasis aims to facilitate seamless integration into the vehicle's steering system, minimize space requirements, and contribute to overall weight reduction. Therefore, such factors are expected to drive the growth of the segment in the market.

The rack and pinion system offers accurate and responsive steering control that allows for precise handling of the vehicle. The rack and pinion gear translates the steering inputs of the driver into the smooth and direct motion of the wheels. Numerous manufacturers design rack and pinion systems that provide precise steering control, improved handling, and enhanced driver experience. For instance, Nexteer, a global motion control technology company offers Premium EPS Rack & Pinion Gears, high-quality components used in EPS systems. The rack and pinion gears are manufactured with advanced technology and undergo rigorous testing to ensure durability and performance.

The automotive electric power steering market is segmented on the basis of type, vehicle type, propulsion type, component, and region. Based on type, it is segmented into column electric power steering, rack electric power steering, and pinion electric power steering. On the basis of vehicle type, it is classified into passenger cars and commercial vehicles. By propulsion type, it is categorized into ICE and electric. By component, it is categorized into electric control unit, electric motor, rack & pinion, steering column, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Some major companies operating in the market Include JTEKT Corporation., HL Mando Corp., Nexteer Automotive, Robert Bosch GmbH, NSK Ltd., ZF Friedrichshafen AG, Hitachi Astemo, Ltd., ThyssenKrupp AG, Zhejiang Shibao Co., Ltd., and BBB Industries

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the automotive electric power steering market analysis from 2022 to 2032 to identify the prevailing automotive electric power steering market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the automotive electric power steering market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report Includes the analysis of the regional as well as global automotive electric power steering market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

  • Column Electric Power Steering
  • Rack Electric Power Steering
  • Pinion Electric Power Steering

By Vehicle Type

  • Passenger Cars
  • Commercial Vehicles

By Propulsion Type

  • ICE
  • Electric

By Component

  • Electric Control Unit
  • Electric Motor
  • Rack and Pinion
  • Steering Column
  • Others

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • UK
  • Germany
  • France
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa

Key Market Players

  • BBB Industries
  • Hitachi, Ltd.
  • HL Mando Corp.
  • JTEKT Corporation
  • Nexteer Automotive
  • NSK Ltd.
  • Robert Bosch GmbH
  • ThyssenKrupp AG
  • ZF Friedrichshafen AG
  • Zhejiang Shibao Co., Ltd.

 

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter’s five forces analysis
3.3.1. Low bargaining power of suppliers
3.3.2. Low threat of new entrants
3.3.3. Low threat of substitutes
3.3.4. Low intensity of rivalry
3.3.5. Low bargaining power of buyers
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Stringent fuel efficiency and emission standards
3.4.1.2. Surge in demand for vehicle safety and enhanced vehicle handling
3.4.1.3. Rise in demand for Advanced Driver Assistance Systems (ADAS)
3.4.2. Restraints
3.4.2.1. High initial investment costs
3.4.2.2. Technical challenges and complexity
3.4.3. Opportunities
3.4.3.1. Development of autonomous driving technology
3.4.3.2. Rise in the development of compact and cost-effective motor control units for EPS
3.5. COVID-19 Impact Analysis on the market
CHAPTER 4: AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE
4.1. Overview
4.1.1. Market size and forecast
4.2. Column Electric Power Steering
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis by country
4.3. Rack Electric Power Steering
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis by country
4.4. Pinion Electric Power Steering
4.4.1. Key market trends, growth factors and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market share analysis by country
CHAPTER 5: AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE
5.1. Overview
5.1.1. Market size and forecast
5.2. Passenger Cars
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis by country
5.3. Commercial Vehicles
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis by country
CHAPTER 6: AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE
6.1. Overview
6.1.1. Market size and forecast
6.2. ICE
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market share analysis by country
6.3. Electric
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market share analysis by country
CHAPTER 7: AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT
7.1. Overview
7.1.1. Market size and forecast
7.2. Electric Control Unit
7.2.1. Key market trends, growth factors and opportunities
7.2.2. Market size and forecast, by region
7.2.3. Market share analysis by country
7.3. Electric Motor
7.3.1. Key market trends, growth factors and opportunities
7.3.2. Market size and forecast, by region
7.3.3. Market share analysis by country
7.4. Rack and Pinion
7.4.1. Key market trends, growth factors and opportunities
7.4.2. Market size and forecast, by region
7.4.3. Market share analysis by country
7.5. Steering Column
7.5.1. Key market trends, growth factors and opportunities
7.5.2. Market size and forecast, by region
7.5.3. Market share analysis by country
7.6. Others
7.6.1. Key market trends, growth factors and opportunities
7.6.2. Market size and forecast, by region
7.6.3. Market share analysis by country
CHAPTER 8: AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY REGION
8.1. Overview
8.1.1. Market size and forecast By Region
8.2. North America
8.2.1. Key trends and opportunities
8.2.2. Market size and forecast, by Type
8.2.3. Market size and forecast, by Vehicle Type
8.2.4. Market size and forecast, by Propulsion Type
8.2.5. Market size and forecast, by Component
8.2.6. Market size and forecast, by country
8.2.6.1. U.S.
8.2.6.1.1. Key market trends, growth factors and opportunities
8.2.6.1.2. Market size and forecast, by Type
8.2.6.1.3. Market size and forecast, by Vehicle Type
8.2.6.1.4. Market size and forecast, by Propulsion Type
8.2.6.1.5. Market size and forecast, by Component
8.2.6.2. Canada
8.2.6.2.1. Key market trends, growth factors and opportunities
8.2.6.2.2. Market size and forecast, by Type
8.2.6.2.3. Market size and forecast, by Vehicle Type
8.2.6.2.4. Market size and forecast, by Propulsion Type
8.2.6.2.5. Market size and forecast, by Component
8.2.6.3. Mexico
8.2.6.3.1. Key market trends, growth factors and opportunities
8.2.6.3.2. Market size and forecast, by Type
8.2.6.3.3. Market size and forecast, by Vehicle Type
8.2.6.3.4. Market size and forecast, by Propulsion Type
8.2.6.3.5. Market size and forecast, by Component
8.3. Europe
8.3.1. Key trends and opportunities
8.3.2. Market size and forecast, by Type
8.3.3. Market size and forecast, by Vehicle Type
8.3.4. Market size and forecast, by Propulsion Type
8.3.5. Market size and forecast, by Component
8.3.6. Market size and forecast, by country
8.3.6.1. UK
8.3.6.1.1. Key market trends, growth factors and opportunities
8.3.6.1.2. Market size and forecast, by Type
8.3.6.1.3. Market size and forecast, by Vehicle Type
8.3.6.1.4. Market size and forecast, by Propulsion Type
8.3.6.1.5. Market size and forecast, by Component
8.3.6.2. Germany
8.3.6.2.1. Key market trends, growth factors and opportunities
8.3.6.2.2. Market size and forecast, by Type
8.3.6.2.3. Market size and forecast, by Vehicle Type
8.3.6.2.4. Market size and forecast, by Propulsion Type
8.3.6.2.5. Market size and forecast, by Component
8.3.6.3. France
8.3.6.3.1. Key market trends, growth factors and opportunities
8.3.6.3.2. Market size and forecast, by Type
8.3.6.3.3. Market size and forecast, by Vehicle Type
8.3.6.3.4. Market size and forecast, by Propulsion Type
8.3.6.3.5. Market size and forecast, by Component
8.3.6.4. Spain
8.3.6.4.1. Key market trends, growth factors and opportunities
8.3.6.4.2. Market size and forecast, by Type
8.3.6.4.3. Market size and forecast, by Vehicle Type
8.3.6.4.4. Market size and forecast, by Propulsion Type
8.3.6.4.5. Market size and forecast, by Component
8.3.6.5. Rest of Europe
8.3.6.5.1. Key market trends, growth factors and opportunities
8.3.6.5.2. Market size and forecast, by Type
8.3.6.5.3. Market size and forecast, by Vehicle Type
8.3.6.5.4. Market size and forecast, by Propulsion Type
8.3.6.5.5. Market size and forecast, by Component
8.4. Asia-Pacific
8.4.1. Key trends and opportunities
8.4.2. Market size and forecast, by Type
8.4.3. Market size and forecast, by Vehicle Type
8.4.4. Market size and forecast, by Propulsion Type
8.4.5. Market size and forecast, by Component
8.4.6. Market size and forecast, by country
8.4.6.1. China
8.4.6.1.1. Key market trends, growth factors and opportunities
8.4.6.1.2. Market size and forecast, by Type
8.4.6.1.3. Market size and forecast, by Vehicle Type
8.4.6.1.4. Market size and forecast, by Propulsion Type
8.4.6.1.5. Market size and forecast, by Component
8.4.6.2. Japan
8.4.6.2.1. Key market trends, growth factors and opportunities
8.4.6.2.2. Market size and forecast, by Type
8.4.6.2.3. Market size and forecast, by Vehicle Type
8.4.6.2.4. Market size and forecast, by Propulsion Type
8.4.6.2.5. Market size and forecast, by Component
8.4.6.3. India
8.4.6.3.1. Key market trends, growth factors and opportunities
8.4.6.3.2. Market size and forecast, by Type
8.4.6.3.3. Market size and forecast, by Vehicle Type
8.4.6.3.4. Market size and forecast, by Propulsion Type
8.4.6.3.5. Market size and forecast, by Component
8.4.6.4. South Korea
8.4.6.4.1. Key market trends, growth factors and opportunities
8.4.6.4.2. Market size and forecast, by Type
8.4.6.4.3. Market size and forecast, by Vehicle Type
8.4.6.4.4. Market size and forecast, by Propulsion Type
8.4.6.4.5. Market size and forecast, by Component
8.4.6.5. Rest of Asia-Pacific
8.4.6.5.1. Key market trends, growth factors and opportunities
8.4.6.5.2. Market size and forecast, by Type
8.4.6.5.3. Market size and forecast, by Vehicle Type
8.4.6.5.4. Market size and forecast, by Propulsion Type
8.4.6.5.5. Market size and forecast, by Component
8.5. LAMEA
8.5.1. Key trends and opportunities
8.5.2. Market size and forecast, by Type
8.5.3. Market size and forecast, by Vehicle Type
8.5.4. Market size and forecast, by Propulsion Type
8.5.5. Market size and forecast, by Component
8.5.6. Market size and forecast, by country
8.5.6.1. Latin America
8.5.6.1.1. Key market trends, growth factors and opportunities
8.5.6.1.2. Market size and forecast, by Type
8.5.6.1.3. Market size and forecast, by Vehicle Type
8.5.6.1.4. Market size and forecast, by Propulsion Type
8.5.6.1.5. Market size and forecast, by Component
8.5.6.2. Middle East
8.5.6.2.1. Key market trends, growth factors and opportunities
8.5.6.2.2. Market size and forecast, by Type
8.5.6.2.3. Market size and forecast, by Vehicle Type
8.5.6.2.4. Market size and forecast, by Propulsion Type
8.5.6.2.5. Market size and forecast, by Component
8.5.6.3. Africa
8.5.6.3.1. Key market trends, growth factors and opportunities
8.5.6.3.2. Market size and forecast, by Type
8.5.6.3.3. Market size and forecast, by Vehicle Type
8.5.6.3.4. Market size and forecast, by Propulsion Type
8.5.6.3.5. Market size and forecast, by Component
CHAPTER 9: COMPETITIVE LANDSCAPE
9.1. Introduction
9.2. Top winning strategies
9.3. Product Mapping of Top 10 Player
9.4. Competitive Dashboard
9.5. Competitive Heatmap
9.6. Top player positioning, 2022
CHAPTER 10: COMPANY PROFILES
10.1. JTEKT Corporation
10.1.1. Company overview
10.1.2. Key Executives
10.1.3. Company snapshot
10.1.4. Operating business segments
10.1.5. Product portfolio
10.1.6. Business performance
10.2. HL Mando Corp.
10.2.1. Company overview
10.2.2. Key Executives
10.2.3. Company snapshot
10.2.4. Operating business segments
10.2.5. Product portfolio
10.2.6. Business performance
10.2.7. Key strategic moves and developments
10.3. Nexteer Automotive
10.3.1. Company overview
10.3.2. Key Executives
10.3.3. Company snapshot
10.3.4. Operating business segments
10.3.5. Product portfolio
10.3.6. Business performance
10.3.7. Key strategic moves and developments
10.4. Robert Bosch GmbH
10.4.1. Company overview
10.4.2. Key Executives
10.4.3. Company snapshot
10.4.4. Operating business segments
10.4.5. Product portfolio
10.4.6. Business performance
10.5. NSK Ltd.
10.5.1. Company overview
10.5.2. Key Executives
10.5.3. Company snapshot
10.5.4. Operating business segments
10.5.5. Product portfolio
10.5.6. Business performance
10.5.7. Key strategic moves and developments
10.6. ZF Friedrichshafen AG
10.6.1. Company overview
10.6.2. Key Executives
10.6.3. Company snapshot
10.6.4. Operating business segments
10.6.5. Product portfolio
10.6.6. Business performance
10.6.7. Key strategic moves and developments
10.7. Hitachi, Ltd.
10.7.1. Company overview
10.7.2. Key Executives
10.7.3. Company snapshot
10.7.4. Operating business segments
10.7.5. Product portfolio
10.7.6. Business performance
10.8. ThyssenKrupp AG
10.8.1. Company overview
10.8.2. Key Executives
10.8.3. Company snapshot
10.8.4. Operating business segments
10.8.5. Product portfolio
10.8.6. Business performance
10.8.7. Key strategic moves and developments
10.9. Zhejiang Shibao Co., Ltd.
10.9.1. Company overview
10.9.2. Key Executives
10.9.3. Company snapshot
10.9.4. Operating business segments
10.9.5. Product portfolio
10.9.6. Business performance
10.10. BBB Industries
10.10.1. Company overview
10.10.2. Key Executives
10.10.3. Company snapshot
10.10.4. Operating business segments
10.10.5. Product portfolio
List of Tables
TABLE 01. GLOBAL AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 02. AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR COLUMN ELECTRIC POWER STEERING, BY REGION, 2022-2032 ($MILLION)
TABLE 03. AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR RACK ELECTRIC POWER STEERING, BY REGION, 2022-2032 ($MILLION)
TABLE 04. AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR PINION ELECTRIC POWER STEERING, BY REGION, 2022-2032 ($MILLION)
TABLE 05. GLOBAL AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 06. AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR PASSENGER CARS, BY REGION, 2022-2032 ($MILLION)
TABLE 07. AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR COMMERCIAL VEHICLES, BY REGION, 2022-2032 ($MILLION)
TABLE 08. GLOBAL AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 09. AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR ICE, BY REGION, 2022-2032 ($MILLION)
TABLE 10. AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR ELECTRIC, BY REGION, 2022-2032 ($MILLION)
TABLE 11. GLOBAL AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 12. AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR ELECTRIC CONTROL UNIT, BY REGION, 2022-2032 ($MILLION)
TABLE 13. AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR ELECTRIC MOTOR, BY REGION, 2022-2032 ($MILLION)
TABLE 14. AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR RACK AND PINION, BY REGION, 2022-2032 ($MILLION)
TABLE 15. AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR STEERING COLUMN, BY REGION, 2022-2032 ($MILLION)
TABLE 16. AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR OTHERS, BY REGION, 2022-2032 ($MILLION)
TABLE 17. AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY REGION, 2022-2032 ($MILLION)
TABLE 18. NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 19. NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 20. NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 21. NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 22. NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COUNTRY, 2022-2032 ($MILLION)
TABLE 23. U.S. AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 24. U.S. AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 25. U.S. AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 26. U.S. AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 27. CANADA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 28. CANADA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 29. CANADA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 30. CANADA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 31. MEXICO AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 32. MEXICO AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 33. MEXICO AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 34. MEXICO AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 35. EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 36. EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 37. EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 38. EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 39. EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COUNTRY, 2022-2032 ($MILLION)
TABLE 40. UK AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 41. UK AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 42. UK AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 43. UK AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 44. GERMANY AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 45. GERMANY AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 46. GERMANY AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 47. GERMANY AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 48. FRANCE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 49. FRANCE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 50. FRANCE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 51. FRANCE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 52. SPAIN AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 53. SPAIN AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 54. SPAIN AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 55. SPAIN AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 56. REST OF EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 57. REST OF EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 58. REST OF EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 59. REST OF EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 60. ASIA-PACIFIC AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 61. ASIA-PACIFIC AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 62. ASIA-PACIFIC AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 63. ASIA-PACIFIC AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 64. ASIA-PACIFIC AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COUNTRY, 2022-2032 ($MILLION)
TABLE 65. CHINA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 66. CHINA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 67. CHINA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 68. CHINA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 69. JAPAN AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 70. JAPAN AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 71. JAPAN AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 72. JAPAN AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 73. INDIA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 74. INDIA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 75. INDIA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 76. INDIA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 77. SOUTH KOREA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 78. SOUTH KOREA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 79. SOUTH KOREA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 80. SOUTH KOREA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 81. REST OF ASIA-PACIFIC AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 82. REST OF ASIA-PACIFIC AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 83. REST OF ASIA-PACIFIC AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 84. REST OF ASIA-PACIFIC AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 85. LAMEA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 86. LAMEA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 87. LAMEA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 88. LAMEA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 89. LAMEA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COUNTRY, 2022-2032 ($MILLION)
TABLE 90. LATIN AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 91. LATIN AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 92. LATIN AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 93. LATIN AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 94. MIDDLE EAST AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 95. MIDDLE EAST AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 96. MIDDLE EAST AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 97. MIDDLE EAST AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 98. AFRICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 99. AFRICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022-2032 ($MILLION)
TABLE 100. AFRICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022-2032 ($MILLION)
TABLE 101. AFRICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022-2032 ($MILLION)
TABLE 102. JTEKT CORPORATION: KEY EXECUTIVES
TABLE 103. JTEKT CORPORATION: COMPANY SNAPSHOT
TABLE 104. JTEKT CORPORATION: PRODUCT SEGMENTS
TABLE 105. JTEKT CORPORATION: PRODUCT PORTFOLIO
TABLE 106. HL MANDO CORP.: KEY EXECUTIVES
TABLE 107. HL MANDO CORP.: COMPANY SNAPSHOT
TABLE 108. HL MANDO CORP.: PRODUCT SEGMENTS
TABLE 109. HL MANDO CORP.: PRODUCT PORTFOLIO
TABLE 110. HL MANDO CORP.: KEY STRATERGIES
TABLE 111. NEXTEER AUTOMOTIVE: KEY EXECUTIVES
TABLE 112. NEXTEER AUTOMOTIVE: COMPANY SNAPSHOT
TABLE 113. NEXTEER AUTOMOTIVE: PRODUCT SEGMENTS
TABLE 114. NEXTEER AUTOMOTIVE: PRODUCT PORTFOLIO
TABLE 115. NEXTEER AUTOMOTIVE: KEY STRATERGIES
TABLE 116. ROBERT BOSCH GMBH: KEY EXECUTIVES
TABLE 117. ROBERT BOSCH GMBH: COMPANY SNAPSHOT
TABLE 118. ROBERT BOSCH GMBH: PRODUCT SEGMENTS
TABLE 119. ROBERT BOSCH GMBH: PRODUCT PORTFOLIO
TABLE 120. NSK LTD.: KEY EXECUTIVES
TABLE 121. NSK LTD.: COMPANY SNAPSHOT
TABLE 122. NSK LTD.: PRODUCT SEGMENTS
TABLE 123. NSK LTD.: PRODUCT PORTFOLIO
TABLE 124. NSK LTD.: KEY STRATERGIES
TABLE 125. ZF FRIEDRICHSHAFEN AG: KEY EXECUTIVES
TABLE 126. ZF FRIEDRICHSHAFEN AG: COMPANY SNAPSHOT
TABLE 127. ZF FRIEDRICHSHAFEN AG: PRODUCT SEGMENTS
TABLE 128. ZF FRIEDRICHSHAFEN AG: PRODUCT PORTFOLIO
TABLE 129. ZF FRIEDRICHSHAFEN AG: KEY STRATERGIES
TABLE 130. HITACHI, LTD.: KEY EXECUTIVES
TABLE 131. HITACHI, LTD.: COMPANY SNAPSHOT
TABLE 132. HITACHI, LTD.: PRODUCT SEGMENTS
TABLE 133. HITACHI, LTD.: PRODUCT PORTFOLIO
TABLE 134. THYSSENKRUPP AG: KEY EXECUTIVES
TABLE 135. THYSSENKRUPP AG: COMPANY SNAPSHOT
TABLE 136. THYSSENKRUPP AG: PRODUCT SEGMENTS
TABLE 137. THYSSENKRUPP AG: PRODUCT PORTFOLIO
TABLE 138. THYSSENKRUPP AG: KEY STRATERGIES
TABLE 139. ZHEJIANG SHIBAO CO., LTD.: KEY EXECUTIVES
TABLE 140. ZHEJIANG SHIBAO CO., LTD.: COMPANY SNAPSHOT
TABLE 141. ZHEJIANG SHIBAO CO., LTD.: PRODUCT SEGMENTS
TABLE 142. ZHEJIANG SHIBAO CO., LTD.: PRODUCT PORTFOLIO
TABLE 143. BBB INDUSTRIES: KEY EXECUTIVES
TABLE 144. BBB INDUSTRIES: COMPANY SNAPSHOT
TABLE 145. BBB INDUSTRIES: PRODUCT SEGMENTS
TABLE 146. BBB INDUSTRIES: PRODUCT PORTFOLIO
List of Figures
FIGURE 01. AUTOMOTIVE ELECTRIC POWER STEERING MARKET, 2022-2032
FIGURE 02. SEGMENTATION OF AUTOMOTIVE ELECTRIC POWER STEERING MARKET, 2022-2032
FIGURE 03. TOP INVESTMENT POCKETS IN AUTOMOTIVE ELECTRIC POWER STEERING MARKET (2023-2032)
FIGURE 04. LOW BARGAINING POWER OF SUPPLIERS
FIGURE 05. LOW THREAT OF NEW ENTRANTS
FIGURE 06. LOW THREAT OF SUBSTITUTES
FIGURE 07. LOW INTENSITY OF RIVALRY
FIGURE 08. LOW BARGAINING POWER OF BUYERS
FIGURE 09. DRIVERS, RESTRAINTS AND OPPORTUNITIES: GLOBALAUTOMOTIVE ELECTRIC POWER STEERING MARKET
FIGURE 09. AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE, 2022(%)
FIGURE 10. COMPARATIVE SHARE ANALYSIS OF AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR COLUMN ELECTRIC POWER STEERING, BY COUNTRY 2022 AND 2032(%)
FIGURE 11. COMPARATIVE SHARE ANALYSIS OF AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR RACK ELECTRIC POWER STEERING, BY COUNTRY 2022 AND 2032(%)
FIGURE 12. COMPARATIVE SHARE ANALYSIS OF AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR PINION ELECTRIC POWER STEERING, BY COUNTRY 2022 AND 2032(%)
FIGURE 13. AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2022(%)
FIGURE 14. COMPARATIVE SHARE ANALYSIS OF AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR PASSENGER CARS, BY COUNTRY 2022 AND 2032(%)
FIGURE 15. COMPARATIVE SHARE ANALYSIS OF AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR COMMERCIAL VEHICLES, BY COUNTRY 2022 AND 2032(%)
FIGURE 16. AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE, 2022(%)
FIGURE 17. COMPARATIVE SHARE ANALYSIS OF AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR ICE, BY COUNTRY 2022 AND 2032(%)
FIGURE 18. COMPARATIVE SHARE ANALYSIS OF AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR ELECTRIC, BY COUNTRY 2022 AND 2032(%)
FIGURE 19. AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, 2022(%)
FIGURE 20. COMPARATIVE SHARE ANALYSIS OF AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR ELECTRIC CONTROL UNIT, BY COUNTRY 2022 AND 2032(%)
FIGURE 21. COMPARATIVE SHARE ANALYSIS OF AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR ELECTRIC MOTOR, BY COUNTRY 2022 AND 2032(%)
FIGURE 22. COMPARATIVE SHARE ANALYSIS OF AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR RACK AND PINION, BY COUNTRY 2022 AND 2032(%)
FIGURE 23. COMPARATIVE SHARE ANALYSIS OF AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR STEERING COLUMN, BY COUNTRY 2022 AND 2032(%)
FIGURE 24. COMPARATIVE SHARE ANALYSIS OF AUTOMOTIVE ELECTRIC POWER STEERING MARKET FOR OTHERS, BY COUNTRY 2022 AND 2032(%)
FIGURE 25. AUTOMOTIVE ELECTRIC POWER STEERING MARKET BY REGION, 2022
FIGURE 26. U.S. AUTOMOTIVE ELECTRIC POWER STEERING MARKET, 2022-2032 ($MILLION)
FIGURE 27. CANADA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, 2022-2032 ($MILLION)
FIGURE 28. MEXICO AUTOMOTIVE ELECTRIC POWER STEERING MARKET, 2022-2032 ($MILLION)
FIGURE 29. UK AUTOMOTIVE ELECTRIC POWER STEERING MARKET, 2022-2032 ($MILLION)
FIGURE 30. GERMANY AUTOMOTIVE ELECTRIC POWER STEERING MARKET, 2022-2032 ($MILLION)
FIGURE 31. FRANCE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, 2022-2032 ($MILLION)
FIGURE 32. SPAIN AUTOMOTIVE ELECTRIC POWER STEERING MARKET, 2022-2032 ($MILLION)
FIGURE 33. REST OF EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, 2022-2032 ($MILLION)
FIGURE 34. CHINA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, 2022-2032 ($MILLION)
FIGURE 35. JAPAN AUTOMOTIVE ELECTRIC POWER STEERING MARKET, 2022-2032 ($MILLION)
FIGURE 36. INDIA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, 2022-2032 ($MILLION)
FIGURE 37. SOUTH KOREA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, 2022-2032 ($MILLION)
FIGURE 38. REST OF ASIA-PACIFIC AUTOMOTIVE ELECTRIC POWER STEERING MARKET, 2022-2032 ($MILLION)
FIGURE 39. LATIN AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, 2022-2032 ($MILLION)
FIGURE 40. MIDDLE EAST AUTOMOTIVE ELECTRIC POWER STEERING MARKET, 2022-2032 ($MILLION)
FIGURE 41. AFRICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, 2022-2032 ($MILLION)
FIGURE 42. TOP WINNING STRATEGIES, BY YEAR
FIGURE 43. TOP WINNING STRATEGIES, BY DEVELOPMENT
FIGURE 44. TOP WINNING STRATEGIES, BY COMPANY
FIGURE 45. PRODUCT MAPPING OF TOP 10 PLAYERS
FIGURE 46. COMPETITIVE DASHBOARD
FIGURE 47. COMPETITIVE HEATMAP: AUTOMOTIVE ELECTRIC POWER STEERING MARKET
FIGURE 48. TOP PLAYER POSITIONING, 2022
FIGURE 49. JTEKT CORPORATION: NET SALES, 2020-2022 ($MILLION)
FIGURE 50. JTEKT CORPORATION: REVENUE SHARE BY REGION, 2022 (%)
FIGURE 51. JTEKT CORPORATION: REVENUE SHARE BY SEGMENT, 2022 (%)
FIGURE 52. HL MANDO CORP.: RESEARCH & DEVELOPMENT EXPENDITURE, 2020-2022 ($MILLION)
FIGURE 53. HL MANDO CORP.: NET REVENUE, 2020-2022 ($MILLION)
FIGURE 54. HL MANDO CORP.: REVENUE SHARE BY SEGMENT, 2022 (%)
FIGURE 55. HL MANDO CORP.: REVENUE SHARE BY REGION, 2022 (%)
FIGURE 56. NEXTEER AUTOMOTIVE: NET REVENUE, 2020-2022 ($MILLION)
FIGURE 57. NEXTEER AUTOMOTIVE: REVENUE SHARE BY SEGMENT, 2022 (%)
FIGURE 58. NEXTEER AUTOMOTIVE: REVENUE SHARE BY REGION, 2022 (%)
FIGURE 59. ROBERT BOSCH GMBH: NET REVENUE, 2020-2022 ($MILLION)
FIGURE 60. ROBERT BOSCH GMBH: RESEARCH & DEVELOPMENT EXPENDITURE, 2020-2022 ($MILLION)
FIGURE 61. ROBERT BOSCH GMBH: REVENUE SHARE BY REGION, 2022 (%)
FIGURE 62. ROBERT BOSCH GMBH: REVENUE SHARE BY SEGMENT, 2022 (%)
FIGURE 63. NSK LTD.: NET REVENUE, 2020-2022 ($BILLION)
FIGURE 64. NSK LTD.: REVENUE SHARE BY SEGMENT, 2022 (%)
FIGURE 65. NSK LTD.: REVENUE SHARE BY REGION, 2022 (%)
FIGURE 66. ZF FRIEDRICHSHAFEN AG: NET SALES, 2020-2022 ($MILLION)
FIGURE 67. ZF FRIEDRICHSHAFEN AG: RESEARCH & DEVELOPMENT EXPENDITURE, 2020-2022 ($MILLION)
FIGURE 68. ZF FRIEDRICHSHAFEN AG: REVENUE SHARE BY REGION, 2022 (%)
FIGURE 69. ZF FRIEDRICHSHAFEN AG: REVENUE SHARE BY REGION, 2022 (%)
FIGURE 70. HITACHI, LTD.: NET SALES, 2020-2022 ($MILLION)
FIGURE 71. HITACHI, LTD.: RESEARCH & DEVELOPMENT EXPENDITURE, 2020-2022 ($MILLION)
FIGURE 72. HITACHI, LTD.: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 73. HITACHI, LTD.: REVENUE SHARE BY REGION, 2021 (%)
FIGURE 74. THYSSENKRUPP AG: RESEARCH & DEVELOPMENT EXPENDITURE, 2019-2021 ($MILLION)
FIGURE 75. THYSSENKRUPP AG: NET SALES, 2019-2021 ($MILLION)
FIGURE 76. THYSSENKRUPP AG: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 77. THYSSENKRUPP AG: REVENUE SHARE BY REGION, 2021 (%)
FIGURE 78. ZHEJIANG SHIBAO CO., LTD.: RESEARCH & DEVELOPMENT EXPENDITURE, 2020-2022 ($MILLION)
FIGURE 79. ZHEJIANG SHIBAO CO., LTD.: NET SALES, 2020-2022 ($MILLION)

Executive Summary

The Automotive Electric Power Steering Market is likely to experience a significant growth rate of 5.8% from 2023-2032 owing to the stringent fuel efficiency & emission standards, the surge in demand for vehicle safety and enhanced vehicle handling, and the rise in demand for Advanced Driver Assistance Systems (ADAS).

Automotive electric power steering is a technology that replaces traditional power steering systems with an electric motor-assisted mechanism. The components of the electric power steering system include a steering wheel, electric motor, electronic control unit (ECU), torque sensor, steering angle sensor, reducing gearbox, battery, and speed sensors. These components are utilized to provide steering assistance and control the steering mechanism of the vehicle. Electric Power Steering (EPS) enhances vehicle handling and steering feedback, prioritizing safety by dynamically adjusting steering torque based on vehicle speed and delivering additional torque during critical driving scenarios.

Electric Power Steering (EPS) systems provide drivers with improved steering control, offering increased precision and responsiveness in steering inputs, leading to enhanced handling and maneuverability. These systems can be seamlessly integrated with various safety systems such as stability control and collision avoidance, contributing to overall vehicle safety by offering supplementary steering support in critical driving scenarios. Moreover, EPS systems possess the flexibility to be easily calibrated and tailored to meet the unique specifications of diverse vehicle models, allowing for personalized customization and optimization of steering characteristics.

Key factors driving the growth of the automotive electric power steering market are the stringent fuel efficiency & emission standards, surge in demand for vehicle safety and enhanced vehicle handling and rise in demand for Advanced Driver Assistance Systems (ADAS). The growth of the automotive electric power steering market can be attributed to the development of autonomous driving technology, and the rise in the development of compact and cost-effective motor control units for EPS.

Moreover, electric power steering is extensively used in passenger cars of various types, including sedans, hatchbacks, SUVs, and luxury vehicles. It provides improved handling, maneuverability, and comfort for drivers by reducing steering effort and enhancing responsiveness. EPS systems in passenger cars often incorporate advanced features such as variable assist levels, speed-sensitive assistance, and driver-selectable modes. The automotive industry has experienced a rise in the replacement of hydraulic power steering (HPS) systems with electric power steering (EPS) systems. For instance, in March 2109, China Automotive Systems (CAS) received a significant exclusive contract for Electric Power Steering (EPS) systems from Great Wall Motors (GWM), one of the leading Chinese automobile manufacturers. Under this contract, the CAS is expected to supply EPS systems to GWM for their vehicle models. Moreover, Great Wall intends to upgrade the steering systems in its vehicle models such as the ORA, from traditional hydraulic power steering to electric power steering (EPS). EPS allows for precise control of steering assistance, providing a more natural and comfortable driving experience in passenger cars. Therefore, such factors are expected to drive the growth of the market during the forecast period.

Electric power steering is also utilized in commercial vehicles, including trucks, buses, and vans. Similar to passenger cars, EPS systems in commercial vehicles enhance steering control and reduce driver fatigue. They contribute to improved maneuverability and ease of operation, particularly in heavy-duty vehicles, which may require more significant steering effort without power assistance. EPS systems in commercial vehicles operate on demand, providing steering assistance only when necessary. This on-demand functionality reduces the engine load and enhances fuel efficiency. This fuel-saving feature is particularly beneficial for commercial vehicle operators who often cover high mileage and extensively use their vehicles. By improving fuel efficiency, EPS helps operators save on fuel costs, making it a cost-effective solution for their businesses. Moreover, automakers provide contracts to vehicle system manufacturers to develop electric power steering systems for commercial vehicles. For instance, in February 2022, a leading global truck manufacturer has indeed commissioned Knorr-Bremse to develop electric power steering (EPS) systems for a series of production vehicles in a multi-year project worth more than $327.8 million. Starting in 2025, Knorr-Bremse is expected to supply EPS systems for the entire commercial vehicle fleet of a leading truck manufacturer. Such developments are expected to accelerate the growth of the market.

The automotive electric power steering market is segmented into type, vehicle type, propulsion type, component, and region. On the basis of type, the market is categorized into column electric power steering, rack electric power steering, and pinion electric power steering. On the vehicle type, it is categorized into passenger cars, and commercial vehicles. On the basis of propulsion type, it is fragmented into ICE, and electric. On the basis of component, the market is categorized into electric control unit, electric motor, rack and pinion, steering column, and others. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

The key players profiled in the study are JTEKT Corporation., HL Mando Corp., Nexteer Automotive, Robert Bosch GmbH, NSK Ltd., ZF Friedrichshafen AG, Hitachi Astemo, Ltd., ThyssenKrupp AG, Zhejiang Shibao Co., Ltd., and BBB Industries. The players in the market have been actively engaged in the adoption of various strategies such as collaboration, expansion, agreement, product launch, investment, and others to remain competitive and gain an advantage over the competitors in the market.

Key Market Insights

  • By type, the column electric power steering segment was the highest revenue contributor to the market, and is estimated to reach $18.01 billion by 2032, with a CAGR of 4.8%.
  • By vehicle type, the passenger cars segment dominated the global market, and is estimated to reach $29.82 billion by 2032, with a CAGR of 5.5%.
  • Based on propulsion type, the ICE segment was the highest revenue contributor to the market, with $21.15 billion in 2022, and is estimated to reach $36.06 billion by 2032, with a CAGR of 5.5%.
  • By component, the steering column segment was the highest revenue contributor to the market, and is estimated to reach $12.51 billion by 2032, with a CAGR of 4.4%.
  • Based on region, Asia-Pacific was the highest revenue contributor, accounting for $12.37 billion in 2022, and is estimated to reach $19.75 billion by 2032, with a CAGR of 4.8%.

Companies Mentioned

  • BBB Industries
  • Hitachi, Ltd.
  • HL Mando Corp.
  • JTEKT Corporation
  • Nexteer Automotive
  • NSK Ltd.
  • Robert Bosch GmbH
  • ThyssenKrupp AG
  • ZF Friedrichshafen AG
  • Zhejiang Shibao Co., Ltd.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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