Market Overview:
The global motor-driven power steering 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 growth of the market can be attributed to the increasing demand for passenger vehicles and commercial vehicles across the globe. The global motor-driven power steering market has been segmented on the basis of type, application, and region. On the basis of type, the market has been segmented into CEPS Motor, PEPS Motor, REPS Motor and EHPS Motor. The CEPS motor segment is expected to account for a major share in terms of revenue in 2018. This can be attributed to its high adoption rate in passenger cars across different regions globally. However, with technological advancements being made in this field regularly; PEPS motors are expected to witness significant growth during the forecast period owing to their advantages such as low noise levels and fuel efficiency over CEPS motors. On the basis of application,the global motor-driven power steering market has been divided into passenger vehicle and commercial vehicle segments. The passenger vehicle segment is anticipatedto hold a dominant positionin terms revenue contribution throughoutthe forecast period2018 – 2030 owingto rising demand for luxury carsand SUVsacross different regions worldwide .
Product Definition:
A motor-driven power steering motor is a device that uses an electric motor to assist in the turning of a vehicle's steering wheel. This is accomplished by transmitting torque from the electric motor to the steering gear, which then turns the wheels. The use of a power steering system allows for much easier turning of the wheel, especially when compared to manual systems.
CEPS Motor:
CEPS (Centralized Engine Power Steering) is a system developed by AB Volvo that uses the engine power to assist the steering. It was initially used in their mid-sized cars such as Saab 900 and 850, but has since been adopted by several other car manufacturers as well.
The basic function of CEPS is to provide assistance when driving through heavy traffic or on roads with tight turns where the driver may lose control of the vehicle.
PEPS Motor:
PEPS (Pneumatic Energy Recovery System) motor and it's usage in the market of Motor-driven Power Steering Motor. The power steering system is one of the most important safety systems on any vehicle, which ensures easy driving experience and better control over the vehicle. In case of low fuel level or if engine speed decreases below a particular point, power steering assist automatically comes into play to provide extra effortless force that increases visibility for driver guidance.
Application Insights:
The commercial vehicle segment dominated the global market in 2017. The demand for power steering motors in this application is majorly driven by the heavy-duty vehicles such as trucks, tractors and buses. The growth of the commercial vehicle industry is expected to drive demand over the forecast period.
Passenger vehicles are projected to witness significant growth over the forecast period owing to increasing consumer preference for motorized power steering systems on account of benefits such as easy maneuverability, increased safety and comfort while driving, reduced energy consumption due to improved aerodynamics coupled with smart electronics features that improve driver convenience. These aforementioned factors are likely to propel passenger vehicle sales which will subsequently drive product demand globally over next eight years or so.
Power steering motors have applications in various other vehicles including off-roaders (lightweight), light commercial vehicles (LCVs), medium/heavy-duty agricultural machinery & equipment, marine vessels.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing rapid urbanization, which has resulted in an increasing demand for passenger cars and light commercial vehicles. Furthermore, rising disposable income of consumers coupled with improving standards of living are likely to contribute to increased sales volume of passenger cars and LCVs over the coming years.
The growing automotive industry in China is a major factor contributing toward regional growth. In addition, supportive government policies such as low-interest rates on vehicle loans along with favorable regulations aimed at reducing pollution levels are anticipated to encourage greater adoption of cleaner technologies such as MDPs for power steering systems thereby boosting regional product demand.
Europe accounted for more than 25% share in terms of revenue owing to high penetration rates observed across prominent markets including Germany, France, Italy, U K.
Growth Factors:
- Increasing demand for electric vehicles
- Growing automotive industry
- Rising disposable income of consumers
- Technological advancements in steering systems
- Government initiatives to promote electric vehicles
Scope Of The Report
Report Attributes
Report Details
Report Title
Motor-driven Power Steering Motor Market Research Report
By Type
CEPS Motor, PEPS Motor, REPS Motor, EHPS Motor
By Application
Passenger Vehicle, Commercial Vehicle
By Companies
Nidec, Bosch, Mitsubishi Electric, Denso, ZF, LG Innotek, Mitsuba, Elite Electro Mechanical Co, Fuxin Dare, Nidec
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
136
Number of Tables & Figures
96
Customization Available
Yes, the report can be customized as per your need.
Global Motor-driven Power Steering Motor Market Report Segments:
The global Motor-driven Power Steering Motor market is segmented on the basis of:
Types
CEPS Motor, PEPS Motor, REPS Motor, EHPS Motor
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 Vehicle, 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:
- Nidec
- Bosch
- Mitsubishi Electric
- Denso
- ZF
- LG Innotek
- Mitsuba
- Elite Electro Mechanical Co
- Fuxin Dare
- Nidec
Highlights of The Motor-driven Power Steering 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:
- CEPS Motor
- PEPS Motor
- REPS Motor
- EHPS Motor
- By Application:
- Passenger Vehicle
- 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 Motor-driven Power Steering 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.
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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
Frequently Asked Questions?
A motor-driven power steering motor is a type of electric motor that helps to steer a car or truck. This type of motor is usually located in the steering column, and it uses electrical power to help move the vehicle's wheels.
Some of the major players in the motor-driven power steering motor market are Nidec, Bosch, Mitsubishi Electric, Denso, ZF, LG Innotek, Mitsuba, Elite Electro Mechanical Co, Fuxin Dare, Nidec.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Motor-driven Power Steering Motor Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Motor-driven Power Steering Motor Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Motor-driven Power Steering Motor Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Motor-driven Power Steering Motor Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Motor-driven Power Steering Motor Market Size & Forecast, 2018-2028
4.5.1 Motor-driven Power Steering Motor Market Size and Y-o-Y Growth
4.5.2 Motor-driven Power Steering Motor Market Absolute $ Opportunity
Chapter 5 Global Motor-driven Power Steering Motor Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Motor-driven Power Steering Motor Market Size Forecast by Type
5.2.1 CEPS Motor
5.2.2 PEPS Motor
5.2.3 REPS Motor
5.2.4 EHPS Motor
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Motor-driven Power Steering Motor Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Motor-driven Power Steering Motor Market Size Forecast by Applications
6.2.1 Passenger Vehicle
6.2.2 Commercial Vehicle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Motor-driven Power Steering Motor Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Motor-driven Power Steering Motor Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Motor-driven Power Steering Motor Analysis and Forecast
9.1 Introduction
9.2 North America Motor-driven Power Steering Motor Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Motor-driven Power Steering Motor Market Size Forecast by Type
9.6.1 CEPS Motor
9.6.2 PEPS Motor
9.6.3 REPS Motor
9.6.4 EHPS Motor
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Motor-driven Power Steering Motor Market Size Forecast by Applications
9.10.1 Passenger Vehicle
9.10.2 Commercial Vehicle
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Motor-driven Power Steering Motor Analysis and Forecast
10.1 Introduction
10.2 Europe Motor-driven Power Steering Motor Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Motor-driven Power Steering Motor Market Size Forecast by Type
10.6.1 CEPS Motor
10.6.2 PEPS Motor
10.6.3 REPS Motor
10.6.4 EHPS Motor
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Motor-driven Power Steering Motor Market Size Forecast by Applications
10.10.1 Passenger Vehicle
10.10.2 Commercial Vehicle
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Motor-driven Power Steering Motor Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Motor-driven Power Steering Motor Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Motor-driven Power Steering Motor Market Size Forecast by Type
11.6.1 CEPS Motor
11.6.2 PEPS Motor
11.6.3 REPS Motor
11.6.4 EHPS Motor
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Motor-driven Power Steering Motor Market Size Forecast by Applications
11.10.1 Passenger Vehicle
11.10.2 Commercial Vehicle
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Motor-driven Power Steering Motor Analysis and Forecast
12.1 Introduction
12.2 Latin America Motor-driven Power Steering Motor Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Motor-driven Power Steering Motor Market Size Forecast by Type
12.6.1 CEPS Motor
12.6.2 PEPS Motor
12.6.3 REPS Motor
12.6.4 EHPS Motor
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Motor-driven Power Steering Motor Market Size Forecast by Applications
12.10.1 Passenger Vehicle
12.10.2 Commercial Vehicle
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Motor-driven Power Steering Motor Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Motor-driven Power Steering Motor Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Motor-driven Power Steering Motor Market Size Forecast by Type
13.6.1 CEPS Motor
13.6.2 PEPS Motor
13.6.3 REPS Motor
13.6.4 EHPS Motor
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Motor-driven Power Steering Motor Market Size Forecast by Applications
13.10.1 Passenger Vehicle
13.10.2 Commercial Vehicle
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Motor-driven Power Steering Motor Market: Competitive Dashboard
14.2 Global Motor-driven Power Steering Motor Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Nidec
14.3.2 Bosch
14.3.3 Mitsubishi Electric
14.3.4 Denso
14.3.5 ZF
14.3.6 LG Innotek
14.3.7 Mitsuba
14.3.8 Elite Electro Mechanical Co
14.3.9 Fuxin Dare
14.3.10 Nidec
