Get E-PDF Sample Report on Electric Power Steering Market - Request Sample Report
The Electric Power Steering Market size was valued at USD 24.1 billion in 2023 and is expected to reach USD 39.50 billion by 2032 and grow at a CAGR of 4.57% over the forecast period 2024-2032.
Perhaps more importantly, adoption of EPS systems in vehicle - while achieving and exceeding 85 % penetration of all new vehicles fitted with some form of electric power steering. This is primarily driven by an increasing demand for improvement of fuel efficiency, which EPS systems possesses to the extent that up to a 3-5% improvement in fuel consumption occurs as compared to traditional hydraulic power steering systems.
The growth in the EPS market has been driven by automobile manufacturers' R&D research. It has been calculated those investments made on R&D by the automobile industry amount to approximately 8-10% of annual revenues and primarily focus on steering system innovation. Furthermore, government regulations regarding increasing fuel efficiency and emission levels make car manufacturers invest more in electric steering technologies. In fact, CO2 emission standards in the European Union are considered to influence EPS market growth; 25-30% EPS use is expected for the region by 2030.
Consumer preference for cars equipped with the latest advanced driver assistance systems also benefits the EPS market. New vehicles integrate EPS systems up to 60% of the time to support features such as lane-keeping assistance and automated parking systems. This trend will fuel demand for smart steering solutions, adding to strong growth in the global EPS market.
Major trends in the automotive EPS market are more advanced driver assistance systems, which is increasing the demand for more advanced steering solutions. Today, more than 60% of the new vehicles are fitted with ADAS, based on EPS, like lane-keeping assist and automated parking. Another major trend is the shift towards electric and hybrid vehicles where EPS was critical in reducing energy usage. This will drastically increase the adoption rate for EPS as electric vehicles are expected to account for 35-40% of total global EPS demand by 2030. In addition, the vehicle electrification and lightweighting thrust has provided an impetus to the EPS technologies with the auto manufacturers aggressively working towards reduction in fuel efficiency through reduction in the lightness of vehicles. Autonomous driving is another growth factor. Fully autonomous cars are expected to have 10-15% of the market by 2035 and so the EPS system will be necessary for complete, real-time steering control. There are finally regional regulations by their specific standards for fuel efficiency and emission reduction in Europe and North America that are forcing the change to EPS. This region's growth is supposed to increase by 20-25% over the decade.
In conjunction with the reduction of car tax rates in most regions, electric power steering has emerged as a prime concern, and thus it has gained much popularity in recent times.
Electric power steering, along with its reasonably low cost of implementation, has gained much popularity in recent years as a whole, mainly due to its efficient performance and the recent cut in tax rates for cars. This is driven by a higher consumer trend towards low-cost and environmental-friendly solutions in the automobile industry, accelerated by increasing fuel costs and a rising concern for sustainability within the vehicle itself. The consumers today are very particular about the automobiles they opt for, which has increased the demand for systems that perform better, but at a lower operational cost as well.
One advantage over hydraulic steering is that EPS is lighter in weight, consumes less energy, and does not require much in the way of after-sale servicing. Those factors alone make it attractive to both manufacturers and the average consumer, particularly in this transitional phase of the automotive sector into electrification and development of hybrid and fully electrical vehicles. Even though some sources suggest that an EPS system can result in up to 3-5% better fuel efficiency, that is another important factor if one considers its overall implications on vehicle operating costs.
By Type:
EPS systems are classified into rack assist (REPS), column assist (CEPS), and pinion assist (PEPS). REPS is the most widely used in passenger cars. Since it provides direct torque assistance for the better performance of driving, it is likely to rule the market with a share of 50-60%. CEPS finds its utility in smaller vehicles because of its compact structure. This also is going to be the appropriate one that capture will hold 25-30% of the market. This is further supplemented with that the PEPS, which provides better support to larger vehicles like SUVs and trucks, would account for around 15-20% of the EPS market.
By Vehicle Type:
The market can also be segmented based on vehicle type into passenger cars and commercial vehicles. Passenger cars are driving the EPS market, occupying around 70-75% of the share. The rising demand for comfort and safety features is driving the EPS market in the passenger cars. Meanwhile, commercial vehicles, representing trucks and vans, should account for 25-30% of the market owing to higher requirements for driver assistance and operational efficiency in more significant vehicles. As the automotive sector leans more towards electrification and advanced technology, so will the two segments continue to develop, promoting the growth of the EPS market.
The automotive electric power steering market is expected to have a promising growth, and it is anticipated that in the projection period, Europe will take the top position. Growth in sales of electric vehicles will be the main driver of this leadership with estimates showing their performance is likely to expand by nearly 25% year after year till 2030. Major producers in the automotive industry like Volkswagen, Renault, and BMW are situated in Germany, France, Italy, and the United Kingdom. The companies are investing highly in producing electric vehicles, which by nature, is going to require EPS systems. Further strengthening its stance, the European market is expected to capture around 40-45% of the global market share in the EPS market by 2030, with the presence of multiple OEMs and tier-1 suppliers that possess highly sophisticated research and development capabilities in electric power steering technology.
The market for EPS in the Asia Pacific region is expected to grow rapidly with growth estimated to grow at a compound annual growth rate of 15-20% through the forecast period. The region leads in the supply of electric vehicles and its components, with China being the largest market in the world for EVs. Consistent growth in the sales of EVs in India and other countries of ASEAN will create attractive opportunities for market players. Consumer demand for safety features and a comfortable ride experience is likely to contribute to the Asia Pacific market growth, which will account for 30-35% of the global EPS market in 2030. North America EPS Market will grow with a CAGR of 12-15% owing to rising sales of SUVs and light commercial vehicles and efforts toward integration of automation in automotive applications.
Get Customized Report as Per Your Business Requirement - Request For Customized Report
Robert Bosch GmbH: (Electric Power Steering (EPS) Systems, Steering Column Control Units)
Hyundai Mobis Co., Ltd.: (Integrated EPS with Torque Sensor, Column-Type EPS Systems)
JTEKT Corporation: (Electric Rack and Pinion Steering, Torque Sensor EPS Systems)
ZF TRW Automotive Holdings Corp: (Electric Power Steering Gear, Advanced Driver Assistance System (ADAS) Integration)
NSK Ltd.: (Electric Power Steering Units, Steering Column Assemblies)
Nexteer Automotive Group Limited: (Electric Power Steering System, Active Steering System)
Mando Corporation: (Electric Rack and Pinion Steering, Column Assist Steering Systems)
ThyssenKrupp AG: (Electric Steering Systems, Steering Column Drive Motors)
Showa Corporation: (Electric Power Steering Systems, Active Steering Systems)
China Automotive Systems: (Electric Power Steering Gear, Hydraulic Power Steering Products)
DENSO Corporation: (Electric Power Steering System, Column Assist EPS Units)
Hitachi Automotive Systems: (Electric Power Steering Units, Steer-by-Wire Systems)
Pioneer Corporation: (Electric Power Steering Control Systems, Advanced EPS Solutions)
Mitsubishi Electric Corporation: (Electric Power Steering Motors, Integrated Steering Control Systems)
Fujikura Ltd.: (Electric Power Steering Systems, Column-Type Steering Mechanisms)
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 25.85 Billion |
| Market Size by 2031 | US$ 36.98 Billion |
| CAGR | CAGR of 5.5% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Type (Rack assist type (REPS), Colum assist type (CEPS), Pinion assist type (PEPS)) • by Component (Steering column, Sensors, Steering gear, Mechanical rack, and pinion, electronic control unit, Electric motor, Bearing) • by Vehicle Type (Passenger cars, Commercial vehicles) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Robert Bosch Automotive Steering GmbH, Hyundai Mobis Co., Ltd., Electric Steering JTEKT Corporation, ZF TRW Automotive Holdings Corp., NSK Ltd., Nexteer Automotive Group Limited, Mando Corporation, ThyssenKrupp Ag, Showa Corporation, and China Automotive System |
| Key Drivers | • Because of the decrease in car tax rates, electric power steering is also in high demand. • Because of strict pollution rules, the industry is likely to expand rapidly around the world. |
| RESTRAINTS | • The much greater cost of EPS in contrast to conventional steering systems. • A lack of steering feel might have a negative impact on market expansion. |
The CAGR of the Electric Power Steering Market is 5.5% over the forecast period 2024-2031.
The forecast period of the Electric Power Steering Market is 2024-2031.
The major players in the market are Robert Bosch Automotive Steering GmbH, Hyundai Mobis Co., Ltd., Electric Steering JTEKT Corporation, ZF TRW Automotive Holdings Corp., NSK Ltd., and others in the final report.
The market share of the Electric Power Steering Market in 2022 is USD 25.85 billion.
Table of Contents:
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Feature Analysis, 2023
5.2 User Demographics, 2023
5.3 Integration Capabilities, by Software, 2023
5.4 Impact on Decision-making
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and supply chain strategies
6.4.3 Expansion plans and new product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Electric Power Steering Market Segmentation, by Type
7.1 Chapter Overview
7.2 Rack assist type (REPS)
7.2.1 Rack assist type (REPS) Market Trends Analysis (2020-2032)
7.2.2 Rack assist type (REPS) Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3 Colum assist type (CEPS)
7.3.1 Colum assist type (CEPS) Market Trends Analysis (2020-2032)
7.3.2 Colum assist type (CEPS) Market Size Estimates and Forecasts to 2032 (USD Billion)
7.4 Pinion assist type (PEPS)
7.4.1 Pinion assist type (PEPS) Market Trends Analysis (2020-2032)
7.4.2 Pinion assist type (PEPS) Market Size Estimates and Forecasts to 2032 (USD Billion)
8. Electric Power Steering Market Segmentation, by Component
8.1 Chapter Overview
8.2 Steering column
8.2.1 Steering column Market Trends Analysis (2020-2032)
8.2.2 Steering column Market Size Estimates and Forecasts to 2032 (USD Billion)
8.3 Sensors
8.3.1 Sensors Market Trends Analysis (2020-2032)
8.3.2 Sensors Market Size Estimates and Forecasts to 2032 (USD Billion)
8.4 Steering gear
8.4.1 Steering gear Market Trends Analysis (2020-2032)
8.4.2 Steering gear Market Size Estimates and Forecasts to 2032 (USD Billion)
8.5 Mechanical rack and pinion
8.5.1 Mechanical rack and pinion Market Trends Analysis (2020-2032)
8.5.2 Mechanical rack and pinion Market Size Estimates and Forecasts to 2032 (USD Billion)
8.6 Electronic control unit
8.6.1 Steering gear Market Trends Analysis (2020-2032)
8.6.2 Steering gear Market Size Estimates and Forecasts to 2032 (USD Billion)
8.7 Electric motor
8.7.1 Electric motor Market Trends Analysis (2020-2032)
8.7.2 Electric motor Market Size Estimates and Forecasts to 2032 (USD Billion)
8.8 Bearing
8.8.1 Bearing Market Trends Analysis (2020-2032)
8.8.2 Bearing Market Size Estimates and Forecasts to 2032 (USD Billion)
9. Electric Power Steering Market Segmentation, by Vehicle Type
9.1 Chapter Overview
9.2 Passenger cars
9.2.1 Passenger cars Market Trends Analysis (2020-2032)
9.2.2 Passenger cars Market Size Estimates and Forecasts to 2032 (USD Billion)
9.3 Commercial vehicles
9.3.1 Commercial vehicles Market Trends Analysis (2020-2032)
9.3.2 Commercial vehicles Market Size Estimates and Forecasts to 2032 (USD Billion)
10. Regional Analysis
10.1 Chapter Overview
10.2 North America
10.2.1 Trends Analysis
10.2.2 North America Electric Power Steering Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.2.3 North America Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.2.4 North America Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.2.5 North America Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.2.6 USA
10.2.6.1 USA Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.2.6.2 USA Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.2.6.3 USA Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.2.7 Canada
10.2.7.1 Canada Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.2.7.2 Canada Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.2.7.3 Canada Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.2.8 Mexico
10.2.8.1 Mexico Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.2.8.2 Mexico Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.2.8.3 Mexico Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Trends Analysis
10.3.1.2 Eastern Europe Electric Power Steering Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.3.1.3 Eastern Europe Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.3.1.4 Eastern Europe Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.3.1.5 Eastern Europe Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.3.1.6 Poland
10.3.1.6.1 Poland Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.3.1.6.2 Poland Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.3.1.6.3 Poland Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.3.1.7 Romania
10.3.1.7.1 Romania Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.3.1.7.2 Romania Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.3.1.7.3 Romania Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.3.1.8 Hungary
10.3.1.8.1 Hungary Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.3.1.8.2 Hungary Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.3.1.8.3 Hungary Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.3.1.9 Turkey
10.3.1.9.1 Turkey Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.3.1.9.2 Turkey Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.3.1.9.3 Turkey Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.3.1.10 Rest of Eastern Europe
10.3.1.10.1 Rest of Eastern Europe Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.3.1.10.2 Rest of Eastern Europe Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.3.1.10.3 Rest of Eastern Europe Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.3.2 Western Europe
10.3.2.1 Trends Analysis
10.3.2.2 Western Europe Electric Power Steering Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.3.2.3 Western Europe Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.3.2.4 Western Europe Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.3.2.5 Western Europe Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.3.2.6 Germany
10.3.2.6.1 Germany Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.3.2.6.2 Germany Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.3.2.6.3 Germany Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.3.2.7 France
10.3.2.7.1 France Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.3.2.7.2 France Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.3.2.7.3 France Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.3.2.8 UK
10.3.2.8.1 UK Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.3.2.8.2 UK Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.3.2.8.3 UK Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.3.2.9 Italy
10.3.2.9.1 Italy Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.3.2.9.2 Italy Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.3.2.9.3 Italy Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.3.2.10 Spain
10.3.2.10.1 Spain Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.3.2.10.2 Spain Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.3.2.10.3 Spain Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.3.2.11 Netherlands
10.3.2.11.1 Netherlands Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.3.2.11.2 Netherlands Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.3.2.11.3 Netherlands Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.3.2.12 Switzerland
10.3.2.12.1 Switzerland Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.3.2.12.2 Switzerland Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.3.2.12.3 Switzerland Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.3.2.13 Austria
10.3.2.13.1 Austria Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.3.2.13.2 Austria Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.3.2.13.3 Austria Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.3.2.14 Rest of Western Europe
10.3.2.14.1 Rest of Western Europe Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.3.2.14.2 Rest of Western Europe Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.3.2.14.3 Rest of Western Europe Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.4 Asia Pacific
10.4.1 Trends Analysis
10.4.2 Asia Pacific Electric Power Steering Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.4.3 Asia Pacific Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.4.4 Asia Pacific Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.4.5 Asia Pacific Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.4.6 China
10.4.6.1 China Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.4.6.2 China Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.4.6.3 China Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.4.7 India
10.4.7.1 India Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.4.7.2 India Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.4.7.3 India Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.4.8 Japan
10.4.8.1 Japan Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.4.8.2 Japan Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.4.8.3 Japan Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.4.9 South Korea
10.4.9.1 South Korea Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.4.9.2 South Korea Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.4.9.3 South Korea Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.4.10 Vietnam
10.4.10.1 Vietnam Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.4.10.2 Vietnam Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.4.10.3 Vietnam Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.4.11 Singapore
10.4.11.1 Singapore Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.4.11.2 Singapore Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.4.11.3 Singapore Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.4.12 Australia
10.4.12.1 Australia Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.4.12.2 Australia Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.4.12.3 Australia Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.4.13 Rest of Asia Pacific
10.4.13.1 Rest of Asia Pacific Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.4.13.2 Rest of Asia Pacific Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.4.13.3 Rest of Asia Pacific Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.5 Middle East and Africa
10.5.1 Middle East
10.5.1.1 Trends Analysis
10.5.1.2 Middle East Electric Power Steering Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.5.1.3 Middle East Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.5.1.4 Middle East Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.5.1.5 Middle East Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.5.1.6 UAE
10.5.1.6.1 UAE Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.5.1.6.2 UAE Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.5.1.6.3 UAE Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.5.1.7 Egypt
10.5.1.7.1 Egypt Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.5.1.7.2 Egypt Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.5.1.7.3 Egypt Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.5.1.8 Saudi Arabia
10.5.1.8.1 Saudi Arabia Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.5.1.8.2 Saudi Arabia Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.5.1.8.3 Saudi Arabia Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.5.1.9 Qatar
10.5.1.9.1 Qatar Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.5.1.9.2 Qatar Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.5.1.9.3 Qatar Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.5.1.10 Rest of Middle East
10.5.1.10.1 Rest of Middle East Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.5.1.10.2 Rest of Middle East Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.5.1.10.3 Rest of Middle East Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.5.2 Africa
10.5.2.1 Trends Analysis
10.5.2.2 Africa Electric Power Steering Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.5.2.3 Africa Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.5.2.4 Africa Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.5.2.5 Africa Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.5.2.6 South Africa
10.5.2.6.1 South Africa Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.5.2.6.2 South Africa Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.5.2.6.3 South Africa Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.5.2.7 Nigeria
10.5.2.7.1 Nigeria Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.5.2.7.2 Nigeria Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.5.2.7.3 Nigeria Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.5.2.8 Rest of Africa
10.5.2.8.1 Rest of Africa Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.5.2.8.2 Rest of Africa Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.5.2.8.3 Rest of Africa Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.6 Latin America
10.6.1 Trends Analysis
10.6.2 Latin America Electric Power Steering Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.6.3 Latin America Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.6.4 Latin America Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.6.5 Latin America Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.6.6 Brazil
10.6.6.1 Brazil Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.6.6.2 Brazil Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.6.6.3 Brazil Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.6.7 Argentina
10.6.7.1 Argentina Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.6.7.2 Argentina Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.6.7.3 Argentina Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.6.8 Colombia
10.6.8.1 Colombia Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.6.8.2 Colombia Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.6.8.3 Colombia Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
10.6.9 Rest of Latin America
10.6.9.1 Rest of Latin America Electric Power Steering Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
10.6.9.2 Rest of Latin America Electric Power Steering Market Estimates and Forecasts, by Component (2020-2032) (USD Billion)
10.6.9.3 Rest of Latin America Electric Power Steering Market Estimates and Forecasts, by Vehicle Type (2020-2032) (USD Billion)
11. Company Profiles
11.1 Robert Bosch Automotive Steering GmbH
11.1.1 Company Overview
11.1.2 Financial
11.1.3 Products/ Services Offered
11.1.4 The SNS View
11.2 Hyundai Mobis Co., Ltd.
11.2.1 Company Overview
11.2.2 Financial
11.2.3 Products / Services Offered
11.2.4 The SNS View
11.3 Electric Steering JTEKT Corporation
11.3.1 Company Overview
11.3.2 Financial
11.3.3 Products / Services Offered
11.3.4 The SNS View
11.4 ZF TRW Automotive Holdings Corp.
11.4.1 Company Overview
11.4.2 Financial
11.4.3 Products / Services Offered
11.4.4 The SNS View
11.5 NSK Ltd
11.5.1 Company Overview
11.5.2 Financial
11.5.3 Products / Services Offered
11.5.4 The SNS View
11.6 Nexteer Automotive Group Limited
11.6.1 Company Overview
11.6.2 Financial
11.6.3 Products / Services Offered
11.6.4 The SNS View
11.7 Mando Corporation
11.7.1 Company Overview
11.7.2 Financial
11.7.3 Products / Services Offered
11.7.4 The SNS View
11.8 ThyssenKrupp Ag
11.8.1 Company Overview
11.8.2 Financial
11.8.3 Products / Services Offered
11.8.4 The SNS View
11.9 Showa Corporation
11.9.1 Company Overview
11.9.2 Financial
11.9.3 Products / Services Offered
11.9.4 The SNS View
11.10 Others
11.10.1 Company Overview
11.10.2 Financial
11.10.3 Products / Services Offered
11.10.4 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. Use Case and Best Practices
14. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
By Type:
Rack assist type (REPS)
Colum assist type (CEPS)
Pinion assist type (PEPS)
By Component:
Steering column
Sensors
Steering gear
Mechanical rack and pinion
Electronic control unit
Electric motor
Bearing
By Vehicle Type:
Passenger cars
Commercial vehicles
Request for Segment Customization as per your Business Requirement: Segment Customization Request
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Request for Country Level Research Report: Country Level Customization Request
Available Customization
With the given market data, SNS Insider offers customization as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
Criss-Cross segment analysis (e.g. Product X Application)
Product Matrix which gives a detailed comparison of product portfolio of each company
Geographic Analysis
Additional countries in any of the regions
Company Information
Detailed analysis and profiling of additional market players (Up to five)
The Automotive Glass Market size was USD 18.12 billion in 2023 and is expected to Reach USD 43.38 billion by 2032 and grow at a CAGR of 10.20% over the forecast period of 2024-2032.
The Automotive Brake Linings Market Size was valued at USD 25.67 billion in 2023 and is expected to reach USD 49.70 billion by 2031 and grow at a CAGR of 8.92% over the forecast period 2024-2031.
The Automotive Wiring Harness Market size is projected to reach USD 72.03 billion by 2032 and was valued at USD 51.05 billion in 2023. The estimated CAGR for 2024-2032 is 3.9%.
Truck Platooning Market Report Scope & Overview:
The Air Brake System Market Size was valued at USD 5.59 billion in 2023 and will reach USD 7.81 billion by 2032 and grow at a CAGR of 3.8% by 2024-2032
The Electric Bicycle Market is projected to reach USD 153.68 Billion by 2032 from USD 60.08 Billion in 2023 at a CAGR of 11% from year 2024 to 2032.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
