Global Automotive Electric Powered Steering Systems Market by Type (Column Type, Pinion-and-rack Type, Double pinion Type, Ball screw Type), By Application (Passenger Cars, Commercial Vehicle) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global automotive electric powered steering systems market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X%. The market growth can be attributed to the increasing demand for electric vehicles and rising awareness about the benefits of electric power steering systems. The column type segment is expected to account for a major share of the global automotive electric powered steering systems market in 2018. This segment is anticipated to register high growth during the forecast period owing to its low cost and easy installation. However, the double pinion type segment is expected to exhibit highest CAGR over the forecast period owing to its superior performance as compared with other types of electric power steering systems. Passenger cars are anticipatedto hold a dominant position in terms of application in the global automotive electric powered steering systems market throughoutthe forecast period.



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Product Definition:

Electric power steering (EPS) is a type of power steering that uses electric motors to assist the driver in turning the vehicle. A hydraulic pump is used to create pressure which is applied to an actuator that converts rotational motion into linear motion. This linear motion actuates the steering gear, which turns the front wheels.

Column Type:

The column type is a structural component of the steering system. It is responsible for transferring the steering input from the steering wheel to the steerable mechanism and back. The components that make up a column are called as “type 1”, “type 2”, or “type 3” depending upon its application in an electric powered steering system.

Pinion-and-rack Type:

The Pinion-and-rack type is a steering system that uses two gears to convert the rotation of the engine/motor to lateral motion of the vehicle. The steering wheel or gear stick are used for controlling the movement of vehicles. This system is widely used in electric powered steering systems as it provides better flexibility and accuracy while making turns at low speeds compared to hydraulic powered systems.

Application Insights:

The commercial vehicle segment dominated the global automotive electric powered steering systems market in terms of revenue share in 2017. The segment is expected to witness significant growth over the forecast period owing to rising demand for heavy-duty vehicles from various industries, such as construction, mining and quarrying, and public transportation. Furthermore, stringent government regulations regarding reduced fuel consumption and emission are anticipated to boost product demand over the coming years.

Passenger cars are projected to be one of the fastest-growing segments during the forecast period due to increasing consumer preference for luxury vehicles with enhanced features including power assisted steering systems. Moreover, growing sales of passenger cars in developing countries including China India Brazil have boosted industry growth significantly over recent years.

Regional Analysis:

Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region accounted for a share of more than 30% of the total revenue in 2017 owing to high demand from developing economies such as China, India, and Japan. Moreover, increasing per capita income levels coupled with rising consumer awareness regarding fuel economy are anticipated to drive regional growth over the forecast period.

The North American market was valued at USD X billion in 2017 and is projected to witness significant growth over the next eight years on account of technological advancements along with stringent government regulations pertaining to fuel economy ratio associated with each vehicle model year. Furthermore, presence of prominent electric powered steering system manufacturers such as AptarGroup Inc.; Autoliv Inc.; Johnson Controls International BV; ZF Friedrichshafen AG; Robert Bosch GmbH & Co.

Growth Factors:

Increasing demand for electric vehicles is expected to drive the growth of the automotive electric powered steering systems market.
Rising awareness about the benefits of electric powered steering systems is projected to boost the market growth in the near future.
The increasing adoption of advanced technologies in automobiles is anticipated to fuel the demand for automotive electric powered steering systems over the forecast period.
Growing concerns regarding vehicular emissions are likely to propel demand for electric powered steering systems in automobiles over the next few years.


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Scope Of The Report
Report Attributes
Report Details
Report Title
Automotive Electric Powered Steering Systems Market Research Report
By Type
Column Type, Pinion-and-rack Type, Double pinion Type, Ball screw Type
By Application
Passenger Cars, Commercial Vehicle
By Companies
Nexteer Automobile, TRW, JTEKT Corporation, Bosch, NSK Motion&Control, Showa Corporation, Thyssenkrupp, Mando Corporation, Beijing Hainanchuan Automotive Parts Co., Tri-ring Group, Nexteer Automobile, Zhejiang Shibao Holding Group, Hyundai MOBIS
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
199
Number of Tables & Figures
140
Customization Available
Yes, the report can be customized as per your need.

Global Automotive Electric Powered Steering Systems Market Report Segments:
The global Automotive Electric Powered Steering Systems market is segmented on the basis of:
Types
Column Type, Pinion-and-rack Type, Double pinion Type, Ball screw Type
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
Passenger Cars, Commercial Vehicle
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:
Nexteer Automobile
TRW
JTEKT Corporation
Bosch
NSK Motion&Control
Showa Corporation
Thyssenkrupp
Mando Corporation
Beijing Hainanchuan Automotive Parts Co.
Tri-ring Group
Nexteer Automobile
Zhejiang Shibao Holding Group
Hyundai MOBIS



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Highlights of The Automotive Electric Powered Steering Systems 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:
Column Type
Pinion-and-rack Type
Double pinion Type
Ball screw Type
By Application:
Passenger Cars
Commercial Vehicle
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 Powered Steering Systems 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
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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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