Electronic Power Steering Market Analysis

Electronic Power Steering Market: Global Industry Analysis and Opportunity Assessment 2016-2026


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This Electronic Power Steering market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Electronic Power Steering market.

The automotive industry has gone through many phases of improvements in design, power and efficiency in the last few decades. The technology has brought automobiles to perform in any terrains, which were earlier meant only for smooth roads. The selection of correct steering design provides stability and maneuverability to vehicle in any terrains.

The steering mechanism is a combination of various linkages which are intended to turn vehicle in minimum radius without over turning it. Unlike conventional steering, the modern electronic power steering comprises of various electronic components which assist to reduce power and provide precision turning. The electronic power steering can improve fuel efficiency and driving experience.

Market Growth Analysis

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Electronic Power Steering Market:
Global Industry Analysis and Opportunity Assessment 2016-2026
Earlier, the electronic power steering was used only in only high-end vehicle or sports utility vehicles (SUVs). In recent years, the reliability of electronic power steering has increased, which in result, has boosted its involvement in almost every categories of vehicle. The modern electronic power steering are much more compact and includes many other controlling features and airbags.

Global Electronic Power Steering Market: Dynamics

The electronic power steering market is basically dependent on the automobile manufacturing sector. Also, research and development activities by various automotive firms is one of the driving factor of the global electronic steering market. Developments of sophisticated and robust steering mechanism is estimated to fuel up the global electronic steering market. Moreover, increasing competition to develop electric, self-driven or auto-pilot enabled vehicles is expected to boost the global market of power steering. Whereas, unavailability of cent percent reliable steering system and failure of electronics of steering are major restraints to global electronic power steering market.

Unlike conventional steering which have constant direct connection of links, development of electronic power steering with no direct contact of links is expected to trend in the forecast market. 

Global Electronic Power Steering Market: Segmentation

The global electronic power steering (EPS) or electric power assisted steering (EPAS) market can be segmented into various categories on the basis of its type and application vehicle. On the basis of EPS type, it can be segmented as column assisted electronic power steering(C-EPS), pinion assisted electronic power steering (P-EPS), rack assisted power steering system (R-EPS), electronic hydraulic power steering (EHPS).

On the basis of type of vehicle application, the global electronic power steering can be segmented as light motor vehicles (LMV), passenger cars, heavy motor vehicles (HMV), agricultural tractors, and special utility vehicles (cranes, sports cars, earth moving, military vehicles, etc.).

The application of electronic power steering in passenger cars and LMV are expected to remain dominating due to wide production in this categories. Whereas, application in heavy motor vehicles is expected to grow substantially.

Global Electronic Power Steering Market: Region-wise Outlook

The global electronic power steering (EPS) or electric power assisted steering (EPAS) market is segmented into 5 key regions, namely North America, Latin America, Middle East & Africa, Asia-Pacific and Europe. Asia-Pacific is expected to attain high growth rate because of large production of automobiles in this region. Whereas, Europe and North America is expected to have saturated market growth rate due to mature automobile market.

Global Electronic Power Steering Market: Key Players

The major key players in global electronic power steering market includes companies like Robert Bosch Automotive Steering GmbH, Mitsubishi Electric Corporation, ZF Friedrichshafen Group, Nexteer Automotive, NSK Global, JTEKT Corporation, SHOWA Corporation, thyssenkrupp Presta AG, Mando Corporation, Hyundai Mobis, Zhuzhou Elite Electro Mechanical Co. Ltd.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Future Market Insights.

Competitive Positioning Matrix

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Average Selling Price (ASP) Analysis

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

The report covers exhaustive analysis on:

  • Market Segments
  • Market Dynamics
  • Market Size
  • Market Supply & Demand
  • Market Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Manufacturing Technology
  • Market Value Chain

Regional analysis includes:

  • North America (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg, Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand, Japan)
  • Middle East and Africa (GCC, S. Africa, N. Africa)

Report Highlights

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint.
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Harish Tiwari

Harish Tiwari

Global Head - Business Development

Pranay Mhaisekar

Pranay Mhaisekar

Business Development

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