The global electronic power steering market was valued at US$ 52,692.31 million in 2019, it is expected to grow at a CAGR of 3.63% during the forecast period from 2020 to 2027.
The electronic power steering market is broadly segmented into five major regions—North America, Europe, APAC, MEA, and SAM. the global market was dominated by the APAC region in 2019, which accounted for almost half of the total market owing to a higher demand for electronic power steering systems. Factors such as the more extensive adoption of premium cars, sedans, and SUVs among the APAC population contribute significantly to the region’s more significant market share. Further, Ford Motor Company of Australia Limited, Toyota Motor Corporation Australia Limited, Mitsubishi Motors Australia Ltd. (MMAL), General Motors Holden, Isuzu Australia Limited, Volkswagen Group Australia Pty Ltd., and Hyundai Commercial Vehicles Australia are some of the well-known manufacturers of commercial vehicle in the country. All these manufacturers are demanding the integration of EPS in the cars to meet the emerging demand of the customers. Moreover, the escalating automotive manufacturing operations, rising demand for electric vehicles, and growing focus of the EPS manufacturers toward offering low-cost and high-efficiency products is expected to drive the growth of the EPS market in the Rest of APAC countries during the forecast period.
Market Insights–Electronic Power Steering Market
Growing Sales of Premium Cars in China
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Electronic Power Steering (EPS) Market: Strategic Insights
Market Size Value in US$ 52,692.31 million in 2019 Market Size Value by US$ 54,933.16 Million by 2027 Growth rate CAGR of 3.63% from 2020 to 2027 Forecast Period 2020 - 2027 Base Year 2020
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Electronic Power Steering (EPS) Market: Strategic Insights
| Market Size Value in | US$ 52,692.31 million in 2019 |
| Market Size Value by | US$ 54,933.16 Million by 2027 |
| Growth rate | CAGR of 3.63% from 2020 to 2027 |
| Forecast Period | 2020 - 2027 |
| Base Year | 2020 |
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In 2019, China accounted for almost 21.4 million-vehicle. The country is the largest producer as well as biggest market for car sales globally. Nevertheless, in 2019, the overall car sales fell by ~1.9, but the demand for SUVs and premium cars sedans increased with the rate of 3.5% and 18.8% respectively as compared to 2018. All major OEMs of luxury vehicles in the country, including BMW, Mercedes-Benz, and Audi, have reported positive figures in November 2019. Along with the rise in the sales, the market scenario also changed rapidly. In the earlier generation, the consumers used to purchase premium vehicles mostly to reveal their social status, but the progressively sophisticated new generation of buyers is buying premium automobiles for the requirement of luxury and clever technologies. According to a study conducted by the China Association of Automobile Manufacturers, women are playing significant role in the Chinese premium car market. This survey stated that while opting for a vehicle model, women value safety features, comfort, and exterior styling, over the qualities favored by their male counterparts, such as powertrain technology, socially recognized premium brands, and bigger models. The above-mentioned factors are going to drive the demand for the integration of EPS in sedans and SUVs.
COVID-19 Impact
The semiconductor and automotive industry are some of the victim of COVID-19, and since the start of 2020, these industries have been reflecting declining trend. With the imposition of lockdown across countries in North America, Europe, and Asia, the industries have been witnessing shattering experience. The automotive industry requires a significant number of human labours, and on the contrary, the COVID-19 virus is spreading through human involvement, the sector is unable to function properly. The declining trend in automotive and semiconductor industry is reflecting a negative impact on the electronic power steering market.
Type Segment Insights
Based on type, the column assisted electronic power steering segment dominated the global electronic power steering market in 2019. The electronic power steering system is gradually replacing the conventional steering system in modern vehicles. The main benefit of using electronic power steering system is the ability to minimize energy consumption. The column assisted electronic power steering (C-EPS) system is one of the type of electronic power steering system.
Vehicle Type Segment Insights
Based on vehicle type, the passenger cars segment held the largest share in global electronic power steering market in 2019. Passenger cars are the transport vehicles with not more than eight seats. Due to the worsening weather and air quality in countries, such as Bangladesh, Pakistan, Mongolia, Afghanistan, India, people are adopting alternative fuel and related technologies in their passenger cars. Passenger cars can be divided into sedan, hatchback, and SUV or MUV. The demand for passenger vehicles is increasing with a rise in per capita income and need for luxury.
The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
- In 2019, Nexteer Automotive had announced its production milestone of 60 million electric power steering (EPS) systems globally. This could be used in vehicles ranging from small cars to big trucks. The electric power steering systems increase fuel efficiency by 6% and CO2 emissions by 8 grams per km.
- In 2018, Robert Bosch GmbH had installed Bosch highway assist systems for partially automated driving function, installed on all the vehicles in the Maserati MY 2018 range. Along with that Bosch electric power steering (EPS), another innovation introduced on the Maserati MY2018 range, makes a contribution to the implementation of the highway assist technology and other advanced driving assistance systems.
- In 2018, Hyundai Mobis had developed an electric power steering system that takes advantage of two electronic circuits during autonomous driving in order to maintain normal steering capabilities under any circumstances.
Electronic Power Steering Market Report Scope
The global electronic power steering market has been segmented as follows:
Electronic Power Steering Market – By Type
- Column Assisted Electronic Power Steering
- Pinion Assisted Electronic Power Steering
- Rack Assisted Power Steering System
- Electronic Hydraulic Power Steering
Electronic Power Steering Market – By Vehicle Type
- Light Commercial Vehicles
- Passenger Cars
- Heavy Commercial Vehicles
Electronic Power Steering Market- By Region
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Electronic Power Steering Market – Companies Profiles
- Hyundai Mobis
- JTEKT Corporation
- Mitsubishi Electric Corporation
- Nexteer Automotive
- NSK Ltd.
- Robert Bosch GmbH
- Showa Corporation
- The Mando Corporation
- ThyssenKrupp AG
- ZF Friedrichshafen AG
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Application, End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, South Africa, South Korea, United Kingdom, United States
Frequently Asked Questions
The electronic power steering (EPS) market is led by passenger cars segment with highest share and is expected to dominate in the forecast period. Passenger cars are the transport vehicles with not more than eight seats. Due to the worsening weather and air quality in countries, such as Bangladesh, Pakistan, Mongolia, Afghanistan, India, people are adopting alternative fuel and related technologies in their passenger cars. Passenger cars can be divided into sedan, hatchback, and SUV or MUV. The demand for passenger vehicles is increasing with a rise in per capita income and need for luxury. The electronic power steering system is linked to the vehicle control unit.
There is an increase in adoption of buses and trucks, specifically for logistics and public transportation purposes, across the globe. In Asia, Oceania, and Europe, the public transportation is used more as compared to private transportation, whereas in North America, transportation is mainly through private vehicles. Growing population in urban areas is demanding the increasing public transportation with the improvement in existing transportation infrastructure is proving to be insufficient. The OEMs across the globe are now focusing on reducing the global carbon footprint, therefore, boosting the usage of electric vehicles is anticipated to offer ample growth opportunities for the global electronic power steering (EPS) market players.
Rising adoption of autonomous driving worldwide is one of the major factors boosting the adoption of steer-by-wire systems in the vehicles. SbW is enhancing the driving experience as well as safety. The SbW technology is currently experiencing a constant surge in development as well as demand. The higher levels of autonomous driving require uninterrupted communication, redundant power supply, and steering rack. Moreover, the SbW enhances the safety with the help of driver assistance systems. It also eliminates the intermediate steering shaft and thus, reduces the risk of injury to the driver from mechanical steering components by augmenting the passive safety in the vehicle.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Electronic Power Steering Market – By Type
1.3.2 Electronic Power Steering Market – By Application
1.3.3 Electronic Power Steering Market – By Geography
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Electronic Power Steering (EPS) Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 Asia Pacific
4.2.4 Middle East and Africa
4.2.5 South America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Electronic Power Steering (EPS) –Market Dynamics
5.1 Market Drivers
5.1.1 Mounting Requirement of Fuel-Efficient Vehicles Globally
5.1.2 Boosting Adoption of Steer-by-Wire (SbW) Technology
5.1.3 Growing Sales of Premium Cars in China
5.2 Market Restraints
5.2.1 High Cost of Electronic Power Steering (EPS)
5.3 Market Opportunities
5.3.1 Growing Trends of Electrification of Vehicles
5.4 Future Trends
5.4.1 Rising Development of Self-Driving Vehicles
5.5 Impact Analysis of Drivers and Restraints
6. Electronic Power Steering (EPS) – Global Market Analysis
6.1 Electronic Power Steering (EPS) Market Overview
6.2 Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Global Market Players Ranking
7. Electronic Power Steering (EPS) Market Analysis– By Type
7.1 Overview
7.2 Electronic Power Steering (EPS) Market Breakdown, By Type, 2018 & 2027
7.3 Column Assisted Electronic Power Steering(C-EPS)
7.3.1 Overview
7.3.2 Column Assisted Electronic Power Steering(C-EPS) Market Revenue and Forecasts to 2027 (US$ Mn)
7.4 Pinion Assisted Electronic Power Steering (P-EPS)
7.4.1 Overview
7.4.2 Pinion Assisted Electronic Power Steering (P-EPS) Market Revenue and Forecasts to 2027 (US$ Mn)
7.5 Rack Assisted Power Steering System (R-EPS)
7.5.1 Overview
7.5.2 Rack Assisted Power Steering System (R-EPS) Market Revenue and Forecasts to 2027 (US$ Mn)
7.6 Electronic Hydraulic Power Steering (E-HPS)
7.6.1 Overview
7.6.2 Electronic Hydraulic Power Steering (E-HPS) Market Revenue and Forecasts to 2027 (US$ Mn)
8. Electronic Power Steering (EPS) Market Analysis – By Application
8.1 Overview
8.2 Global Electronic Power Steering (EPS) Market Breakdown, By Application, 2019 & 2027 (%)
8.3 Light Commercial Vehicles (LCV)
8.3.1 Overview
8.3.2 Light Commercial Vehicles (LCV) Market Forecast and Analysis
8.4 Passenger Cars
8.4.1 Overview
8.4.2 Passenger Cars Market Forecast and Analysis
8.5 Heavy Commercial Vehicles (HCV)
8.5.1 Overview
8.5.2 Heavy Commercial Vehicles (HCV) Market Forecast and Analysis
9. Electronic Power Steering (EPS) Market – Geographic Analysis
9.1 Overview
9.2 North America: Electronic Power Steering (EPS) Market
9.2.1 North America: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.2.2 North America: Electronic Power Steering (EPS) Market, By Type
9.2.3 North America: Electronic Power Steering (EPS) Market, By Application
9.2.4 North America: Electronic Power Steering (EPS) Market, By Country
9.2.4.1 US: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.2.4.1.1 US: Electronic Power Steering (EPS) Market, By Type
9.2.4.1.2 US: Electronic Power Steering (EPS) Market, By Application
9.2.4.2 Canada: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.2.4.2.1 Canada: Electronic Power Steering (EPS) Market, By Type
9.2.4.2.2 Canada: Electronic Power Steering (EPS) Market, By Application
9.2.4.3 Mexico: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.2.4.3.1 Mexico: Electronic Power Steering (EPS) Market, By Type
9.2.4.3.2 Mexico: Electronic Power Steering (EPS) Market, By Application
9.3 Europe: Electronic Power Steering (EPS) Market
9.3.1 Europe: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.3.2 Europe: Electronic Power Steering (EPS) Market, By Type
9.3.3 Europe: Electronic Power Steering (EPS) Market, By Application
9.3.4 Europe: Electronic Power Steering (EPS) Market, By Country
9.3.4.1 Germany: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.1.1 Germany: Electronic Power Steering (EPS) Market, By Type
9.3.4.1.2 Germany: Electronic Power Steering (EPS) Market, By Application
9.3.4.2 France: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.2.1 France: Electronic Power Steering (EPS) Market, By Type
9.3.4.2.2 France: Electronic Power Steering (EPS) Market, By Application
9.3.4.3 Italy: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.3.1 Italy: Electronic Power Steering (EPS) Market, By Type
9.3.4.3.2 Italy: Electronic Power Steering (EPS) Market, By Application
9.3.4.4 UK: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.4.1 UK: Electronic Power Steering (EPS) Market, By Type
9.3.4.4.2 UK: Electronic Power Steering (EPS) Market, By Application
9.3.4.5 Russia: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.5.1 Russia: Electronic Power Steering (EPS) Market, By Type
9.3.4.5.2 Russia: Electronic Power Steering (EPS) Market, By Application
9.3.4.6 Rest of Europe: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.6.1 Rest of Europe: Electronic Power Steering (EPS) Market, By Type
9.3.4.6.2 Rest of Europe: Electronic Power Steering (EPS) Market, By Application
9.4 APAC: Electronic Power Steering (EPS) Market
9.4.1 APAC: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.4.2 APAC: Electronic Power Steering (EPS) Market, By Type
9.4.3 APAC: Electronic Power Steering (EPS) Market, By Application
9.4.4 APAC: Electronic Power Steering (EPS) Market, By Country
9.4.4.1 China: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.1.1 China: Electronic Power Steering (EPS) Market, By Type
9.4.4.1.2 China: Electronic Power Steering (EPS) Market, By Application
9.4.4.2 India: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.2.1 India: Electronic Power Steering (EPS) Market, By Type
9.4.4.2.2 India: Electronic Power Steering (EPS) Market, By Application
9.4.4.3 Japan: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.3.1 Japan: Electronic Power Steering (EPS) Market, By Type
9.4.4.3.2 Japan: Electronic Power Steering (EPS) Market, By Application
9.4.4.4 South Korea: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.4.1 South Korea: Electronic Power Steering (EPS) Market, By Type
9.4.4.4.2 South Korea: Electronic Power Steering (EPS) Market, By Application
9.4.4.5 Rest of APAC: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.5.1 Rest of APAC: Electronic Power Steering (EPS) Market, By Type
9.4.4.5.2 Rest of APAC: Electronic Power Steering (EPS) Market, By Application
9.5 MEA: Electronic Power Steering (EPS) Market
9.5.1 MEA: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.5.2 MEA: Electronic Power Steering (EPS) Market, By Type
9.5.3 MEA: Electronic Power Steering (EPS) Market, By Application
9.5.4 MEA: Electronic Power Steering (EPS) Market, By Country
9.5.4.1 South Africa: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.1.1 South Africa: Electronic Power Steering (EPS) Market, By Type
9.5.4.1.2 South Africa: Electronic Power Steering (EPS) Market, By Application
9.5.4.2 Rest of MEA: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.2.1 Rest of MEA: Electronic Power Steering (EPS) Market, By Type
9.5.4.2.2 Rest of MEA: Electronic Power Steering (EPS) Market, By Application
9.6 SAM: Electronic Power Steering (EPS) Market
9.6.1 SAM: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.6.2 SAM: Electronic Power Steering (EPS) Market, By Type
9.6.3 SAM: Electronic Power Steering (EPS) Market, By Application
9.6.4 SAM: Electronic Power Steering (EPS) Market, By Country
9.6.4.1 Brazil: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.6.4.1.1 Brazil: Electronic Power Steering (EPS) Market, By Type
9.6.4.1.2 Brazil: Electronic Power Steering (EPS) Market, By Application
9.6.4.2 Argentina: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.6.4.2.1 Argentina: Electronic Power Steering (EPS) Market, By Type
9.6.4.2.2 Argentina: Electronic Power Steering (EPS) Market, By Application
9.6.4.3 Rest of SAM: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.6.4.3.1 Rest of SAM: Electronic Power Steering (EPS) Market, By Type
9.6.4.3.2 Rest of SAM: Electronic Power Steering (EPS) Market, By Application
10. Electronic Power Steering (EPS) Market- COVID-19 Impact Analysis
10.1 Overview
10.1.1 North America: Impact Assessment of COVID-19 Pandemic
10.1.2 Europe: Impact Assessment of COVID-19 Pandemic
10.1.3 Asia Pacific: Impact Assessment of COVID-19 Pandemic
10.1.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
10.1.5 South America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
12.1 Hyundai Mobis
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 JTEKT Corporation
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Mitsubishi Electric Corporation
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Nexteer Automotive
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 inancial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 NSK Ltd.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Robert Bosch GmbH
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Showa Corporation
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 The Mando Corporation
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 ThyssenKrupp AG
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 ZF Friedrichshafen AG
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 US$ Mn)
Table 2. North America Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 3. North America Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 4. US Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 5. US Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 6. Canada Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 7. Canada Electronic Power Steering (EPS) Market, By Application– Revenue and Forecast to 2027 (US$ Million)
Table 8. Mexico Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 9. Mexico Electronic Power Steering (EPS) Market, By Application– Revenue and Forecast to 2027 (US$ Million)
Table 10. Europe Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 11. Europe Electronic Power Steering (EPS) Market, By Application– Revenue and Forecast to 2027 (US$ Million)
Table 12. Germany Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 13. Germany Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 14. France Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 15. France Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 16. Italy Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 17. Italy Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 18. UK Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 19. UK Electronic Power Steering (EPS) Market, By Application– Revenue and Forecast to 2027 (US$ Million)
Table 20. Russia Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 21. Russia Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 22. Rest of Europe Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 23. Rest of Europe Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 24. APAC Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 25. APAC Electronic Power Steering (EPS) Market, By Application– Revenue and Forecast to 2027 (US$ Million)
Table 26. China Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 27. China Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 28. India Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 29. India Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 30. Japan Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 31. Japan Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 32. South Korea Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 33. South Korea Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 34. Rest of APAC Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 35. Rest Of APAC Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 36. MEA Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 37. MEA Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 38. South Africa Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 39. South Africa Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 40. Rest of MEA Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 41. Rest Of MEA Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 42. SAM Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 43. SAM Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 44. Brazil Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 45. Brazil Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 46. Argentina Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 47. Argentina Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 48. Rest of SAM Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 49. Rest Of SAM Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)
LIST OF FIGURES
Figure 1. Electronic Power Steering (EPS) Market Segmentation
Figure 2. Electronic Power Steering (EPS) Market Segmentation – By Geography
Figure 3. Global Electronic Power Steering (EPS) - Geographical Analysis
Figure 4. Global Electronic Power Steering (EPS) - Market Overview
Figure 5. Global Electronic Power Steering (EPS) Market by Type
Figure 6. Electronic Power Steering (EPS) Market by Application
Figure 7. Electronic Power Steering (EPS) Market by Geography
Figure 8. North America: PEST Analysis
Figure 9. Europe: PEST Analysis
Figure 10. APAC: PEST Analysis
Figure 11. MEA: PEST Analysis
Figure 12. SAM: PEST Analysis
Figure 13. Ecosystem Analysis
Figure 14. Expert Opinion
Figure 15. Electronic Power Steering (EPS) Market Impact Analysis of Drivers and Restraints
Figure 16. Geographic Overview of Electronic Power Steering (EPS) Market Revenue
Figure 17. Global: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. Electronic Power Steering (EPS) Market Breakdown, By Type, 2018 & 2027 (%)
Figure 19. Column Assisted Electronic Power Steering(C-EPS) Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 20. Pinion Assisted Electronic Power Steering (P-EPS) Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 21. Rack Assisted Power Steering System (R-EPS) Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 22. Electronic Hydraulic Power Steering (E-HPS) Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 23. Global Electronic Power Steering (EPS) Market Breakdown, By Application, 2019 & 2027 (%)
Figure 24. Global Light Commercial Vehicles (LCV) Market Revenue and Forecast to 2027 (US$ Mn)
Figure 25. Global Passenger Cars Market Revenue and Forecast to 2027 (US$ Mn)
Figure 26. Global Heavy Commercial Vehicles (HCV) Market Revenue and Forecast to 2027 (US$ Mn)
Figure 27. Global Electronic Power Steering (EPS) Market Revenue Share, By Region (2019 and 2027)
Figure 28. North America: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. North America Electronic Power Steering (EPS) Market Revenue Share, By Type (2019 and 2027)
Figure 30. North America Electronic Power Steering (EPS) Market Revenue Share, By Application (2019 and 2027)
Figure 31. North America Electronic Power Steering (EPS) Market Revenue Share, By Country (2019 and 2027)
Figure 32. US: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 33. Canada: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 34. Mexico: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 35. Europe: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 36. Europe: Electronic Power Steering (EPS) Market Revenue Share, By Type (2019 and 2027)
Figure 37. Europe: Electronic Power Steering (EPS) Market Revenue Share, By Application (2019 and 2027)
Figure 38. Europe: Electronic Power Steering (EPS) Market Revenue Share, By Country (2019 and 2027)
Figure 39. Germany: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 40. France: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 41. Italy: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 42. UK: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 43. Russia: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 44. Rest of Europe: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 45. APAC: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 46. APAC: Electronic Power Steering (EPS) Market Revenue Share, By Type (2019 and 2027)
Figure 47. APAC: Electronic Power Steering (EPS) Market Revenue Share, By Application (2019 and 2027)
Figure 48. APAC: Electronic Power Steering (EPS) Market Revenue Share, By Country (2019 and 2027)
Figure 49. China: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 50. India: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 51. Japan: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 52. South Korea: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 53. Rest of APAC: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 54. MEA: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 55. MEA: Electronic Power Steering (EPS) Market Revenue Share, By Type (2019 and 2027)
Figure 56. MEA: Electronic Power Steering (EPS) Market Revenue Share, By Application (2019 and 2027)
Figure 57. MEA: Electronic Power Steering (EPS) Market Revenue Share, By Country (2019 and 2027)
Figure 58. South Africa: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 59. Rest of MEA: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 60. SAM: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 61. SAM: Electronic Power Steering (EPS) Market Revenue Share, By Type (2019 and 2027)
Figure 62. SAM: Electronic Power Steering (EPS) Market Revenue Share, By Application (2019 and 2027)
Figure 63. SAM: Electronic Power Steering (EPS) Market Revenue Share, By Country (2019 and 2027)
Figure 64. Brazil: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 65. Argentina: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 66. Rest of SAM: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 67. Impact of COVID-19 Pandemic in North American Country Markets
Figure 68. Impact of COVID-19 Pandemic in Europe Country Markets
Figure 69. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
Figure 70. Impact of COVID-19 Pandemic in Middle East and Africa Country Markets
Figure 71. Impact of COVID-19 Pandemic in South America Country Markets
The List of Companies - Electronic Power Steering Market
- Hyundai Mobis
- JTEKT Corporation
- Mitsubishi Electric Corporation
- Nexteer Automotive
- NSK Ltd.
- Robert Bosch GmbH
- Showa Corporation
- The Mando Corporation
- ThyssenKrupp AG
- ZF Friedrichshafen AG
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.
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