Light Commercial Vehicle EPS Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Electric Power Steering (EPS) is the latest technology in the field of Automobile industry. Compared to the traditional steering system, EPS enhance the driving experience for car drivers and also increases the fuel efficiency. Many car manufacturing companies are offering EPS technology in their cars.
EPS helps to prevent wheel from transferring load to steering column, reduces emission due to vehicle fuel efficiency and helps to enhance safety and steering control are the major drivers which help in surging the growth of this market whereas EPS is costly compared to traditional hydraulic steering system which acts as a restraining factor for the growth of Light Commercial Vehicle EPS market. Introduction of brushless motor technology and the development of lightweight electric power steering will add new opportunities for this market in the coming years.
The "Global Light Commercial Vehicle EPS Market Analysis to 2031" is a specialized and in-depth study of the Light Commercial Vehicle EPS industry with a focus on the global market trend. The report aims to provide an overview of the global Light Commercial Vehicle EPS market with detailed market segmentation by type, component, and geography. The global Light Commercial Vehicle EPS market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Light Commercial Vehicle EPS market players and offers key trends and opportunities in the market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Light Commercial Vehicle EPS market based on type and component. It also provides market size and forecast till 2031 for overall passenger car EPS market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The Light Commercial Vehicle EPS market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 16 countries globally along with the current trend and opportunities prevailing in the region.
Besides this, the report analyzes factors affecting Light Commercial Vehicle EPS market from both demand and supply side and further evaluates market dynamics affecting the Light Commercial Vehicle EPS market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the market in these regions.
Also, key Light Commercial Vehicle EPS market players influencing the market are profiled in the study along with their SWOT analysis and market strategies. The report also focuses on leading industry players with information such as company profiles, products, and services offered, financial information for the last 3 years, the key development in the past five years. Some of the key players influencing the market are JTEKT Corporation., Robert Bosch GmbH, NSK Ltd., ZF Friedrichshafen AG, Nexteer Automotive, Hyundai Mobis Co., Ltd., SHOWA CORPORATION., Mando Co., Ltd., Hitachi Automotive Systems, Ltd. and Federal-Mogul LLC.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1 Introduction
1.1 Scope of Study
1.2 The Insight Partners Research Report Guidance
2 Key Takeaways
3 Light Commercial Vehicle EPS Market Landscape
3.1 Market Overview
3.2 Market Segmentation
3.2.1 Light Commercial Vehicle EPS Market - By Type
3.2.2 Light Commercial Vehicle EPS Market - By Component
3.2.3 Light Commercial Vehicle EPS Market - By Region
3.2.3.1 By Countries
3.3 PEST Analysis
3.3.1 North America - PEST Analysis
3.3.2 Europe - PEST Analysis
3.3.3 Asia Pacific - PEST Analysis
3.3.4 Middle East and Africa - PEST Analysis
3.3.5 South America - PEST Analysis
4 Light Commercial Vehicle EPS Market - Key Industry Dynamics
4.1 Key Market Drivers
4.2 Key Market Restraints
4.3 Key Market Opportunities
4.4 Future Trends
4.5 Impact Analysis
5 Light Commercial Vehicle EPS Market Analysis- Global
5.1 Global Light Commercial Vehicle EPS Market Overview
5.2 Global Light Commercial Vehicle EPS Market Forecasts and Analysis
6 Light Commercial Vehicle EPS Market Revenue and Forecasts to 2028 -Type
6.1 Overview
6.2 Type Market Forecasts and Analysis
6.3 Column EPS Market
6.3.1 Overview
6.3.2 Column EPS Market Forecasts and Analysis
6.4 Pinion EPS Market
6.4.1 Overview
6.4.2 Pinion EPS Market Forecasts and Analysis
6.5 Dual Pinion EPS Market
6.5.1 Overview
6.5.2 Dual Pinion EPS Market Forecasts and Analysis
6.6 Offset Ball Screw EPS Market
6.6.1 Overview
6.6.2 Offset Ball Screw EPS Market Forecasts and Analysis
6.7 Direct Drive EPS Market
6.7.1 Overview
6.7.2 Direct Drive EPS Market Forecasts and Analysis
7 Light Commercial Vehicle EPS Market Revenue and Forecasts to 2028 - Component
7.1 Overview
7.2 Component Market Forecasts and Analysis
7.3 Steering Wheel Market
7.3.1 Overview
7.3.2 Steering Wheel Market Forecasts and Analysis
7.4 Steering Column Market
7.4.1 Overview
7.4.2 Steering Column Market Forecasts and Analysis
7.5 Steering Gear Market
7.5.1 Overview
7.5.2 Steering Gear Market Forecasts and Analysis
7.6 Steering Linkage Market
7.6.1 Overview
7.6.2 Steering Linkage Market Forecasts and Analysis
7.7 Others Market
7.7.1 Overview
7.7.2 Others Market Forecasts and Analysis
8 Light Commercial Vehicle EPS Market Revenue and Forecasts to 2028 - Geographical Analysis
8.1 North America
8.1.1 North America Light Commercial Vehicle EPS Market Overview
8.1.2 North America Light Commercial Vehicle EPS Market Forecasts and Analysis
8.1.2.1 North America Market Forecasts and Analysis - By Countries
8.1.2.1.1 US market
8.1.2.1.2 Canada market
8.1.2.1.3 Mexico market
8.1.2.2 North America Market Forecasts and Analysis - By Type
8.1.2.3 North America Market Forecasts and Analysis - By Component
8.2 Europe
8.2.1 Europe Light Commercial Vehicle EPS Market Overview
8.2.2 Europe Light Commercial Vehicle EPS Market Forecasts and Analysis
8.2.2.1 Europe Market Forecasts and Analysis - By Countries
8.2.2.1.1 France market
8.2.2.1.2 Germany market
8.2.2.1.3 Italy market
8.2.2.1.4 Spain market
8.2.2.1.5 UK market
8.2.2.2 Europe Market Forecasts and Analysis - By Type
8.2.2.3 Europe Market Forecasts and Analysis - By Component
8.3 Asia pacific (APAC)
8.3.1 Asia Pacific Light Commercial Vehicle EPS Market Overview
8.3.2 Asia Pacific Light Commercial Vehicle EPS Market Forecasts and Analysis
8.3.2.1 Asia Pacific Market Forecasts and Analysis - By Countries
8.3.2.1.1 Australia market
8.3.2.1.2 China market
8.3.2.1.3 India market
8.3.2.1.4 Japan market
8.3.2.2 Asia Pacific Market Forecasts and Analysis - By Type
8.3.2.3 Asia Pacific Market Forecasts and Analysis - By Component
8.4 Middle East and Africa (MEA)
8.4.1 Middle East and Africa Light Commercial Vehicle EPS Market Overview
8.4.2 Middle East and Africa Light Commercial Vehicle EPS Market Forecasts and Analysis
8.4.2.1 Middle East and Africa Market Forecasts and Analysis - By Countries
8.4.2.1.1 South Africa market
8.4.2.1.2 Saudi Arabia market
8.4.2.1.3 UAE market
8.4.2.2 Middle East and Africa Market Forecasts and Analysis - By Type
8.4.2.3 Middle East and Africa Market Forecasts and Analysis - By Component
8.5 South America (SAM)
8.5.1 South America Light Commercial Vehicle EPS Market Overview
8.5.2 South America Light Commercial Vehicle EPS Market Forecasts and Analysis
8.5.2.1 South America Market Forecasts and Analysis - By Countries
8.5.2.1.1 Brazil market
8.5.2.2 South America Market Forecasts and Analysis - By Type
8.5.2.3 South America Market Forecasts and Analysis - By Component
9 Industry Landscape
9.1 Mergers & acquisitions
9.2 Market Initiatives
9.3 New developments
9.4 Investment scenarios
10 Competitive Landscape
10.1 Competitive Product mapping
10.2 Market Positioning/ Market Share
11 Light Commercial Vehicle EPS Market, Key Company Profiles
11.1 JTEKT Corporation.
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Robert Bosch GmbH
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 NSK Ltd.
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 ZF Friedrichshafen AG
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Nexteer Automotive
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Hyundai Mobis Co., Ltd.
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 SHOWA CORPORATION
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Mando Co., Ltd.
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Hitachi Automotive Systems, Ltd.
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Federal-Mogul LLC.
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12 Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
12.3 Research Methodology
1. JTEKT Corporation.
2. Robert Bosch GmbH
3. NSK Ltd.
4. ZF Friedrichshafen AG
5. Nexteer Automotive
6. Hyundai Mobis Co., Ltd.
7. SHOWA CORPORATION
8. Mando Co., Ltd.
9. Hitachi Automotive Systems, Ltd.
10. Federal-Mogul LLC.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.