Electric Power Steering System Market Valuable Growth Prospects, Top Players, Key Country Analysis, Trends and Forecast till 2025

Press Release

An Electric power steering (EPS) is a system that relies on a motor to provide auxiliary torque in a vehicle to assist the driver. The EPS allows the driver to follow the desired trajectory without necessitating extreme physical effort in an automobile. Electric power steering is increasingly replacing hydraulic power assisted steering (HPAS) as it facilitates finding of the right sensitivity and stability at high speed and easy maneuvering of the vehicles while parking, even at low speed. Moreover, the EPS system primarily uses an electric motor in order to provide increased steering capabilities with less effort, eliminating the need for hoses, fluids, drive belts, pulleys, and pumps.

The global market for electric power steering systems is progressing rapidly and is directly proportional to the growth of the automobile manufacturing sector. The adoption rate of EPS system in the passenger cars and sports utility vehicles is significantly increasing as it provides ease in driving and reducing the functional complexities of hydraulic power assisted steering systems. Moreover, the EPS systems provide higher fuel efficiency over HPAS systems. Additionally, EPS system OEMs and suppliers are increasingly investing in steering innovations in order to develop power steering systems. These systems will provide torque feedback to the steering wheel, ensuring smooth controlling and steering as per the driving needs. However, the significantly higher cost of EPS systems over HPAS, attributed to non-completion of the supply chain and the lack of economies of scale is restraining the demand for EPS.

For the study, the global electric power steering system market has been segmented on the basis of component, type, and region. Of all the component, the column-assist electric power steering (C-EPS) segment accounted for the largest market share in 2017, and is projected to grow at the highest CAGR during the forecast period. On the basis of type, the passenger vehicle segment accounted for the larger market share in 2017. On the basis of regions, global electric power steering system market is segmented into North America, Asia-Pacific, Europe, South America, and Middle East & Africa. North America accounted for the largest market share in 2017.

Table of Contents:

1            Executive Summary

2            Market Introduction

2.1         Definition

2.2         Scope of the Study

2.3         List of Assumptions

2.4         Market Structure

3            Research Methodology

3.1         Research Process

3.2         Primary Research

3.3         Secondary Research

3.4         Market Size Estimation

3.5         Forecast Model

4            Market Dynamics

4.1         Introduction

4.2         Drivers

4.2.1     High Fuel Efficiency

4.2.2     Technological Advancement

4.2.3     Increasing replacement of hydraulic power steering with electric power steering

4.3         Restraints

4.3.1     Fluctuations in the cost of raw materials

4.3.2     Rise in the Cost of Servicing and Replacement

4.4         Opportunities

4.4.1     Growing economies

4.4.2     Positive outlook of the global automotive industry

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5            Market Factor Analysis

5.1         Porter’s Five Forces Analysis

5.1.1     Threat of New Entrants

5.1.2     Bargaining power of suppliers

5.1.3     Bargaining power of buyers

5.1.4     Threat of substitutes

5.1.5     Segment Rivalry

5.2         Supply Chain Analysis

5.2.1     Raw Material Supplier

5.2.2     Design & Assembly

5.2.3     Distribution

5.2.4     End-users

5.2.5     After Sales Services

5.3         Price Analysis

6            Global Electric Power Steering System Market, By Component

6.1         Overview

6.1.1     Column Assist Electric Power Steering (C-EPS)

6.1.2     Pinion Assist Electric Power Steering (P-EPS)

6.1.3     Rack Assist Electric Power Steering (R-EPS)

7            Global Electric Power Steering System Market, By Type

7.1         Overview

7.1.1     Passenger Vehicle

7.1.2     Commercial Vehicle

8            Global Electric Power Steering System Market, By Region

8.1         Introduction

8.2         North America

8.2.1     U.S.

8.2.2     Canada

8.2.3     Mexico

8.3         Europe

8.3.1     Germany

8.3.2     France

8.3.3     UK

8.3.4     Russia

8.3.5     Italy

8.3.6     Rest of Europe

8.4         Asia Pacific

8.4.1     China

8.4.2     Japan

8.4.3     Korea

8.4.4     India

8.4.5     South East Asia

8.4.6     Rest of Asia Pacific

8.5         South America

8.5.1     Brazil

8.5.2     Argentina

8.5.3     Columbia

8.5.4     Rest of South America

8.6         Middle East and Africa

8.6.1     Saudi Arabia

8.6.2     UAE

8.6.3     Egypt

8.6.4     Nigeria

8.6.5     South Africa

9            Competitive Landscape

9.1         Competitive Landscape

10          Company Profiles

10.1       Robert Bosch GmbH

10.1.1   Company Overview

10.1.2   Financial Overview

10.1.3   Product Offerings

10.1.4   SWOT Analysis

10.1.5   Key Strategy

10.2       NSK

10.2.1   Company Overview

10.2.2   Financial Overview

10.2.3   Product Offerings

10.2.4   Key Developments

10.2.5   SWOT Analysis

10.2.6   Key Strategy

10.3       Nexteer Automotive


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