+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

United Kingdom Automotive EPS Market Report and Forecast 2024-2032

  • PDF Icon

    Report

  • 192 Pages
  • July 2024
  • Region: United Kingdom
  • Expert Market Research
  • ID: 5990197
According to the report, the United Kingdom automotive EPS market size reached approximately USD 1.49 billion in 2023. Aided by the increasing demand for advanced steering systems and the growing applications of EPS in various vehicle segments, the market is projected to grow at a CAGR of 6.10% between 2024 and 2032, reaching a value of around USD 2.53 billion by 2032.

Electric power steering (EPS) systems replace the traditional hydraulic power steering systems with an electric motor to assist the driver in steering the vehicle. These systems offer numerous advantages, including improved fuel efficiency, enhanced steering precision, and reduced maintenance requirements. EPS systems are becoming increasingly popular in the automotive sector due to their superior performance and environmental benefits.

The growing automotive sector in the United Kingdom is a primary driver of the United Kingdom automotive EPS market expansion. The UK is home to numerous automotive manufacturers and a robust automotive supply chain. The increasing production of vehicles, coupled with the rising demand for advanced steering systems, is driving the demand for EPS in the automotive sector.

Additionally, the increasing consumer preference for vehicles equipped with advanced safety and comfort features is propelling the market. EPS systems offer better control and stability, enhancing the overall driving experience. The integration of EPS with other advanced driver assistance systems (ADAS) such as lane-keeping assist and autonomous driving technologies is further boosting the United Kingdom automotive EPS market growth.

The expanding applications of EPS in various vehicle segments also play a significant role in propelling the market. EPS systems are used in passenger cars, commercial vehicles, and electric vehicles (EVs). The high efficiency and performance benefits of EPS make it an ideal choice for modern vehicles.

Technological advancements and the integration of innovative solutions in EPS systems are contributing to the United Kingdom automotive EPS market development. The use of advanced sensors, control algorithms, and software in EPS systems enhances their performance and reliability. These innovations are driving the demand for high-performance and reliable EPS systems in the UK automotive market.

The passenger car segment holds a significant portion of the United Kingdom automotive EPS market share, driven by the increasing production of passenger vehicles and the rising demand for advanced steering systems. EPS systems are essential for enhancing the safety and comfort of passenger cars.

The commercial vehicle segment, including trucks, buses, and vans, is expected to witness substantial growth during the forecast period. EPS systems provide better handling and manoeuvrability for commercial vehicles, reducing driver fatigue and improving safety.

The electric vehicle segment is anticipated to grow steadily, supported by the increasing adoption of EVs and the emphasis on advanced steering systems. EPS systems are crucial for enhancing the performance and efficiency of electric vehicles.

The OEM segment holds a significant share of the United Kingdom automotive EPS market, driven by the high demand for EPS systems from automotive manufacturers. OEMs require high-quality and reliable EPS systems to ensure the performance and safety of their vehicles. The aftermarket segment is also anticipated to grow significantly, supported by the increasing demand for replacement and upgraded EPS systems. The availability of a wide range of products and the growing awareness about the benefits of EPS are driving the demand through this channel.

As per the United Kingdom automotive EPS market analysis, the increasing demand for advanced steering systems in emerging markets presents significant growth opportunities for the market. The expanding automotive sector and the growing focus on safety and comfort in these markets are driving the demand for EPS systems. The development of advanced sensors and control algorithms with superior properties is providing growth opportunities for the market. These innovations offer improved performance and reliability, enhancing the capabilities of EPS systems.

Market Segmentation

The United Kingdom automotive EPS market can be divided based on product type, component type, vehicle type, and sales channel.

Market Breakup by Product Type

  • Rack Assist Type (REPS)
  • Column Assist Type (CEPS)
  • Pinion Assist Type (PEPS)

Market Breakup by Component Type

  • Steering Rack/Column
  • Sensor
  • Steering Motor
  • Others

Market Breakup by Vehicle Type

  • Passenger Cars
  • Commercial Vehicles

Market Breakup by Sales Channel

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United Kingdom automotive EPS market. Some of the major players explored in the report are as follows:
  • Robert Bosch GmbH
  • Hitachi Limited
  • Infineon Technologies AG
  • Mitsubishi Electric Corporation
  • ZF Friedrichshafen AG
  • BMW AG
  • GKN Automotive Limited
  • JTEKT Corporation
  • NSK Ltd.
  • Hyundai Motor Company
  • Others

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot7 Opportunities and Challenges in the Market
8 Global Automotive EPS Market Overview
8.1 Key Industry Highlights
8.2 Global Automotive EPS Historical Market (2018-2023)
8.3 Global Automotive EPS Market Forecast (2024-2032)
8.4 Global Automotive EPS Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 United Kingdom Automotive EPS Market Overview
9.1 Key Industry Highlights
9.2 United Kingdom Automotive EPS Historical Market (2018-2023)
9.3 United Kingdom Automotive EPS Market Forecast (2024-2032)
10 United Kingdom Automotive EPS Market by Product Type
10.1 Rack Assist Type (REPS)
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Column Assist Type (CEPS)
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Pinion Assist Type (PEPS)
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 United Kingdom Automotive EPS Market by Component Type
11.1 Steering Rack/Column
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Sensor
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Steering Motor
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Others
12 United Kingdom Automotive EPS Market by Vehicle Type
12.1 Passenger Cars
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Commercial Vehicles
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 United Kingdom Automotive EPS Market by Sales Channel
13.1 Original Equipment Manufacturer (OEM)
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Aftermarket
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Robert Bosch GmbH
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Hitachi Limited
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Infineon Technologies AG
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Mitsubishi Electric Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 ZF Friedrichshafen AG
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 BMW AG
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 GKN Automotive Limited
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 JTEKT Corporation
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 NSK Ltd.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Hyundai Motor Company
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Automotive EPS Market: Key Industry Highlights, 2018 and 2032
2. United Kingdom Automotive EPS Market: Key Industry Highlights, 2018 and 2032
3. United Kingdom Automotive EPS Historical Market: Breakup by Product Type (USD Billion), 2018-2023
4. United Kingdom Automotive EPS Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
5. United Kingdom Automotive EPS Historical Market: Breakup by Component Type (USD Billion), 2018-2023
6. United Kingdom Automotive EPS Market Forecast: Breakup by Component Type (USD Billion), 2024-2032
7. United Kingdom Automotive EPS Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
8. United Kingdom Automotive EPS Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
9. United Kingdom Automotive EPS Historical Market: Breakup by Sales Channel (USD Billion), 2018-2023
10. United Kingdom Automotive EPS Market Forecast: Breakup by Sales Channel (USD Billion), 2024-2032
11. United Kingdom Automotive EPS Market Structure

Companies Mentioned

  • Robert Bosch GmbH
  • Hitachi Limited
  • Infineon Technologies AG
  • Mitsubishi Electric Corporation
  • ZF Friedrichshafen AG
  • BMW AG
  • GKN Automotive Limited
  • JTEKT Corporation
  • NSK Ltd.
  • Hyundai Motor Company

Methodology

Loading
LOADING...

Table Information