Global Automotive Electric Power Steering (EPS) Motor Market by Type (Brush Motors, Brushless Motors), By Application (Column Type Electric Power Steering, Pinion Type Electric Power Steering, Rack Gears Type Electric Power Steering, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global automotive electric power steering (EPS) motor market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for electric vehicles and rising awareness about vehicle safety. The brush motors segment is expected to dominate the global automotive electric power steering (EPS) motor market in terms of revenue, followed by brushless motors, during the forecast period. The column type electric power steering segment is projected to be the fastest-growing application segment in terms of revenue, followed by rack gears type electric power steering and pinion type electric power steering segments during the forecast period. In terms of region, North America is estimated to account for majority share in terms of revenue in 2018 and Asia Pacific is projected to be fastest-growing region during the forecast period from 2018-2030 owing high adoption rate due stringent emission norms being implemented across various countries such as China.



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Product Definition:

The automotive electric power steering (EPS) motor is a device that uses an electric motor to assist the driver in turning the car's steering wheel. The EPS system monitors how much help is needed and provides just enough assistance to make it easier for the driver to steer. This can be especially helpful on long trips, when fatigue can set in and make it difficult to turn the wheel manually. The EPS motor is important because it helps drivers maintain control of their cars, especially when conditions are challenging or they are tired.

Brush Motors:

Brushless DC motors are used in various automotive applications such as power steering systems, engine cooling fans, and fuel injection pumps. The increasing demand for vehicles with EPS (Electric Power Steering) motor is expected to drive the brushless DC (BLDC) brush motors market over the forecast period. Brushless DC motor has no physical brushes to wear out or burn out and hence they have a longer lifespan than conventional ones.

Brushless Motors:

Brushless motors are the most advanced type of electric power steering motor. They have no physical connections to a crankshaft, and therefore they do not need to be lubricated. Brushless motors offer many benefits over conventional ones such as reduced noise levels, less vibration & heat production, improved efficiency & longer life span and so on.

Application Insights:

Column type electric power steering dominated the market in terms of revenue share in 2017. It is a cost-effective solution and provides good accuracy and precision, which are major factors that influence the adoption of EPS motors for this application. In addition, column type EPS motors have a relatively small footprint which reduces the overall vehicle length thus improving fuel economy by reducing drag.

The others segment includes specialty electric power steering motors that are used for applications such as agricultural equipment, lawn mowers and snowblowers among others. The segment is expected to witness significant growth over the forecast period owing to increasing demand from end-use industries such as construction, agriculture and heavy machinery among others.

Regional Analysis:

Asia Pacific is anticipated to be the largest regional market over the forecast period owing to increasing demand for electric vehicles in countries, such as China and India. The growing adoption of EPS motors in commercial and passenger cars is also expected to drive growth over the next eight years. Moreover, favorable government regulations aimed at reducing carbon emissions coupled with increasing investments by key players are expected to boost industry growth. For instance, governments of various countries have framed policies that ban high-efficiency gasoline direct injection (GDI) engines or diesel engines with a maximum power output exceeding 100 kW from 2020 onwards.

Growth Factors:

Increasing demand for electric vehicles: The automotive electric power steering (EPS) motor market is expected to grow significantly in the coming years owing to the increasing demand for electric vehicles. This is because EPS motors are used in electric vehicles for power steering purposes.
Rising awareness about vehicle safety: There has been a rise in the awareness about vehicle safety among consumers in recent years. This is driving them to opt for cars that have advanced safety features, such as EPS motors.
Technological advancements: The automotive industry is constantly evolving with new technologies being introduced every day. This has led to the development of better and more efficient EPS motors, which are likely to fuel the growth of this market in the coming years.
Growing demand from emerging markets: A large number of emerging markets such as China and India are witnessing a rapid increase in automobile sales due to rising income levels and an expanding middle class population base These countries offer immense potential for growth of the automotive electric power steering (EPS) motor market over the next few years..  5


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Scope Of The Report
Report Attributes
Report Details
Report Title
Automotive Electric Power Steering (EPS) Motor Market Research Report
By Type
Brush Motors, Brushless Motors
By Application
Column Type Electric Power Steering, Pinion Type Electric Power Steering, Rack Gears Type Electric Power Steering, Others
By Companies
Robert Bosch GmbH, DENSO, Hitachi, Johnson Electric, NIDEC CORPORATION, Mitsubishi Electric Corporation, Lucas TVS Limited, Allied Motion, Inc., LG Innotek
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
219
Number of Tables & Figures
154
Customization Available
Yes, the report can be customized as per your need.

Global Automotive Electric Power Steering (EPS) Motor Market Report Segments:
The global Automotive Electric Power Steering (EPS) Motor market is segmented on the basis of:
Types
Brush Motors, Brushless Motors
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Column Type Electric Power Steering, Pinion Type Electric Power Steering, Rack Gears Type Electric Power Steering, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
Robert Bosch GmbH
DENSO
Hitachi
Johnson Electric
NIDEC CORPORATION
Mitsubishi Electric Corporation
Lucas TVS Limited
Allied Motion, Inc.
LG Innotek



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Highlights of The Automotive Electric Power Steering (EPS) Motor Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Brush Motors
Brushless Motors
By Application:
Column Type Electric Power Steering
Pinion Type Electric Power Steering
Rack Gears Type Electric Power Steering
Others
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Automotive Electric Power Steering (EPS) Motor Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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