#ElectricPowerSteering

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[fuzzycrownking]

Automotive Electric Power Steering Market Drivers Transforming Future Vehicle Technologies and Growth Opportunities Globally

The automotive electric power steering market is witnessing significant growth, primarily propelled by various critical drivers that are reshaping the automotive industry. One of the most influential drivers is the increasing demand for fuel-efficient vehicles. Traditional hydraulic power steering systems tend to consume more power and reduce overall fuel efficiency, whereas electric power steering systems consume power only when steering assistance is needed. This feature significantly reduces energy consumption, contributing to better fuel economy, which aligns with growing consumer and regulatory demand for environmentally friendly vehicles.

Another key driver of the automotive electric power steering market is the rising adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs). The transition towards electrification of vehicles is encouraging manufacturers to integrate EPS systems because they are more compatible with electric drivetrains compared to hydraulic systems. EPS can easily be integrated with other electronic vehicle control systems, providing an overall enhancement in vehicle performance and control. As governments worldwide push for stricter emission norms and incentives for electric vehicles, EPS market growth is accelerated by the expanding EV ecosystem.

Safety regulations and advancements in automotive safety technology also significantly drive the EPS market. Modern vehicles are equipped with advanced driver assistance systems (ADAS), such as lane-keeping assist, automated parking, and collision avoidance systems, which rely heavily on precise steering control. Electric power steering systems provide the necessary electronic control interface for these safety features, improving overall vehicle safety and responsiveness. With increasing focus on reducing road accidents and enhancing driver comfort, automotive manufacturers are investing heavily in EPS technology.

Customer demand for enhanced driving comfort and convenience is another important market driver. EPS systems offer improved steering feel and reduced driver fatigue compared to conventional systems. By automatically adjusting steering effort based on vehicle speed and driving conditions, EPS enhances maneuverability in urban environments while providing stability at higher speeds. This adaptability appeals to a wide range of consumers, from everyday drivers to luxury vehicle owners, fueling demand for EPS-equipped vehicles.

Technological advancements in sensor technologies and electronic control units (ECUs) are further driving the adoption of EPS systems. Innovations such as torque sensors, brushless DC motors, and more efficient control algorithms have improved the reliability, responsiveness, and cost-effectiveness of electric power steering. These technological improvements help reduce manufacturing costs and improve system durability, encouraging automakers to adopt EPS as a standard feature even in mid-range vehicles.

Increasing production of passenger cars and commercial vehicles globally supports the automotive electric power steering market growth. Emerging economies are witnessing rapid urbanization and rising disposable incomes, resulting in higher vehicle sales. Automotive manufacturers are incorporating EPS technology across various vehicle segments to meet consumer preferences for fuel economy, safety, and comfort, thus expanding market penetration.

The trend of vehicle electrification is also supported by stringent government regulations on vehicle emissions and fuel economy standards. Many countries have mandated the use of more efficient steering systems that contribute to lowering carbon footprints. Subsidies and incentives for electric vehicle production indirectly promote the adoption of electric power steering systems, as they are integral components of EV platforms.

Furthermore, EPS technology allows easier integration with autonomous and semi-autonomous driving systems, which is an emerging trend in the automotive industry. Self-driving cars require precise steering control that can be electronically managed, making EPS indispensable in the development of autonomous vehicles. This long-term growth prospect also acts as a major driver for research and development investments in EPS.

The shift towards lightweight vehicle components to improve fuel efficiency also benefits the EPS market. Electric power steering systems are generally lighter than hydraulic systems due to the absence of hydraulic pumps and fluid. This weight reduction contributes to overall vehicle efficiency and handling dynamics, encouraging manufacturers to adopt EPS systems in both passenger and commercial vehicles.

In conclusion, the automotive electric power steering market is driven by multiple factors including the increasing demand for fuel-efficient vehicles, rapid growth in electric and hybrid vehicles, stringent safety regulations, customer preference for comfort and convenience, technological advancements, and the rising adoption of autonomous driving technologies. These drivers collectively foster a positive growth environment for EPS manufacturers and automotive companies investing in advanced steering technologies. The ongoing shift towards sustainable mobility and smarter vehicles ensures that the EPS market will continue to expand and evolve in the foreseeable future.

[market-insider]

Electric Power Steering Market: Taking a Smooth Turn

With a shift in the automotive industry toward more fuel-efficient and smarter vehicles, the electric power steering market has a huge potential to grow in the upcoming years. Consumers have started preferring the electric power steering (EPS) system over the traditional Hydraulic Power Steering (HPS) system when they decide to buy a new vehicle, as EPS provides an enhanced and smooth driving experience.

The EPS system does not require a mechanical connection between the steering and the wheels. In the electric power steering system, when the steering is turned, a torque sensor on the steering column detects this movement and sends information to the Powertrain Control Module (PCM), which is the control unit of the car. This control unit then sends electricity to the motor placed at the end of the steering column. Once the motor receives the correct voltage signal, its gears start rotating, which controls the movement of the car's rack and ensures that the front wheels move in the desired direction!

Integration with other Automotive Systems: One of the biggest benefits of adopting the EPS system is that it can be integrated with other automotive systems, which is the need of the hour. Lane departure warning (LDW), automated parking and electronic stability control (ESC) are recent trends of the automotive industry that are compatible with the EPS system. The diverse applications of EPS in other automotive systems increase vehicles’ overall safety and enable more sophisticated steering assistance.

Integration with Autonomous Driving System: Another major industry trend is autonomous driving systems, and the EPS is crucial here, too! An Autonomous Driving System (ADS) requires electric power steering, as it allows the car to steer itself without the driver's assistance.

Why the Electric Power Steering Market is Growing: Advantages Offered by Electric Power Steering System

The EPS system is becoming popular as it offers many advantages when compared to the traditional hydraulic power steering system. HPS has a complicated design and consumes more power than electric power steering. Growing environmental concerns have given rise to the adoption of EPS as they consume less fuel than their traditional counterpart. According to some estimates, EPS can save up to 90% of the energy used by the HPS system. Moreover, the EPS system does not require hydraulic fluids, which results in reduced maintenance costs. Electric power steering also helps in reducing the weight of the vehicle as it uses electric motors instead of hydraulic pumps.

Governments and regulatory organizations in many countries have enforced strict guidelines related to CO2/CO emissions, fuel efficiency and vehicle safety, that mandate manufacturers to integrate cutting-edge technologies in steering mechanisms. For example, in case of frontal impact, collapsible electric power steering (CEPS) collapses the steering column and provides additional safety to the driver by reducing the risk of chest and head injuries.

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Challenges

The EPS industry has its challenges too—limited aftermarket presence being the first. The EPS components have a relatively small aftermarket, which poses a challenge to vehicle owners looking for repairs or improvements. Secondly, despite being simple in design, the repair and maintenance of electric power steering is little complex. Since the market is evolving fast, specialized skills and equipment are required for proper servicing. This can lead to higher maintenance costs for the owner. EPS’s dependency on electrical systems is another major threat to the market growth, as electrical failures can affect steering performance, raising concerns regarding safety.

Global Overview

The global electric power steering market had a size value of more than USD 25.32 billion in 2023. This is anticipated to reach around USD 40 billion by 2030, growing at a compound annual growth rate of 6.6% from 2024 to 2030. The market has witnessed tremendous transformation in the recent few years. With the growing popularity of hybrid and electric vehicles, EPS system is delivering lightweight and energy-efficient solutions. Due to the emerging economies of the Asia Pacific, the EPS industry accounted for the largest revenue generation in this region in 2023. The rapidly growing demand for the solution from countries such as India and China, where the rising population provides a large customer base, has given a boost to the electric power steering market.

Europe is another key market for EPS due to the presence of significant manufacturers in the region. For example, the rising demand for ADAS and the push toward autonomous vehicles in Germany have given a push to the adoption of EPS by the major automakers operating in the country, such as Volkswagen Group, BMW AG, and Mercedes-Benz. Moreover, organizations such as the International Council on Clean Transportation (ICCT) and the European Union (EU) have implemented stringent emission and fuel efficiency standards that encourage the adoption of EPS technology. North America has a significant presence of larger vehicles such as trucks and SUVs. These heavy vehicles require better safety features, such as precise and responsive steering systems. EPS technology plays a crucial role here.

Innovations in the industry

The EPS industry is evolving rapidly. Key players are coming up with innovative and latest technologies to stay ahead of their competitors. In April 2023, Nexteer Automotive launched the Modular Rack-Assist Electric Power Steering system (mREPS) to provide cost-effective, modular EPS solutions. The mREPS system offers advanced steering systems in heavier vehicles, including EVs. Similarly, in September 2022, Hitachi Astemo introduced a Steer-by-Wire prototype, which actuates the tires through the electric control of steering wheel inputs.

JTEKT Corporation, GKN Automotive Limited, Hitachi Astemo, Ltd., Denso Corporation, Nexteer Automotive, NSK Ltd., Robert Bosch GmbH, Hyundai Mobis, Mitsubishi Electric Corporation and ZF Friedrichshafen AG, are some of the leading companies in the electric power steering market.

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[theautomotivetimes]

What is Power Steering, And How does it work. ➡️ Do follow @theautomotivetimes.at . . #theautomotivetimes #powersteering #steering #dailyknowledge #learndaily #didyouknow #diduknow #automotivefacts #automotiveknowledge #knowyourcar #learning #learnaboutcars #hydraulicpowersteering #electricpowersteering #knowledge #latest #trending #trendingnow #car #cars #carknowledge https://www.instagram.com/p/CHDGiZvpMfE/?igshid=utqy167jprwm

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[robertalanclayton]

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[merwingroup]

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[ipratikd-blog]

Electric Power Steering Market Growth by Top Companies, Gross Margin, End-Users Forecasts 2025

According to the new market research report “Electric Power Steering Market by Component, Type (CEPs, PEPs, REPs), Mechanism (Collapsible, Rigid), Motor Type (Brushless, Brush), Application, Off-Highway (Construction, Agricultural), EV (BEV, PHEV, HEV), and Region - Global Forecast to 2025", published by MarketsandMarkets™, The global electric power steering market is estimated to be USD 25.83 billion in 2017 and is projected to reach USD 42.01 billion by 2025, at a CAGR of 6.27% during the forecast period.

Column Assist EPS (CEPS) has proved to be the perfect solution for compact vehicles that have lesser space in the engine room because the power assist unit is located in the cabin. This system integrates the system electronics (motor, controller, and sensor) and the assist mechanism with the steering column. Around 60% of vehicles that have an EPS system feature CEPS steering systems. However, the introduction of steer-by-wire (SBW) technology can hinder the growth of this market as this technology is said to hit the passenger cars first and replace EPS systems to a major extent in the near future.

Browse and in-depth TOC on “Electric Power Steering Market” 128 - Tables 78 - Figures 187 - Pages

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“HEV market of electric power steering is estimated to experience the highest growth rate during the forecast period”

The electric power steering market for hybrid electric vehicles (HEV) is estimated to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the engine structure of the vehicle, which combines a conventional internal combustion engine (ICE) system with an electric propulsion system. Due to the presence of the IC engine, which has the maximum installation rate of electric power steering systems, this segment of electric vehicles is estimated to experience the highest growth rate during the forecast period. Also, the increasing sales of HEVs in the Asia Pacific region are driving the growth of electric power steering systems in these vehicles.

“Asia Pacific is estimated to be the fastest growing electric power steering market”

The electric power steering market for the Asia Pacific is estimated to grow at the highest CAGR during the forecast period. High volume markets with increased demand for electronic and fuel efficient systems in passenger cars make the Asia Pacific the largest and fastest growing market for electric power steering. Also, the existing and upcoming vehicle emission regulations in developing countries will further drive the market growth in the region.

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“Electric power steering with collapsible steering column drives the global electric power steering market”

The collapsible steering column is a mechanism of an upper column and a lower shaft in which the lower shaft enters into a housing in the event of an accident. This column is installed in passenger cars and light commercial vehicles. The growing production of passenger cars and light commercial vehicles, as well as increasing government mandates on road safety, are the primary factors driving the growth of collapsible steering columns in EPS systems.

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The electric power steering market comprises a network of players involved in the research and product development; raw material supply; component manufacturing; distribution and sale; and post-sales services. Key players considered in the analysis of the electric power steering market are Robert Bosch (Germany), JTEKT (Japan), Nexteer (US), ZF (Germany), NSK (Japan), Delphi (UK), GKN (UK), Federal-Mogul (US), Hyundai Mobis (South Korea) and Showa Corporation (Japan).

[fuzzycrownking]

Automotive Electric Power Steering Market: Key Drivers Shaping the Future of Vehicle Efficiency

The global automotive electric power steering market has witnessed significant growth in recent years, fueled by a multitude of drivers that continue to shape its development. EPS systems, which replace the traditional hydraulic power steering, have gained prominence due to their numerous benefits, such as improved fuel efficiency, reduced weight, and enhanced driving comfort. This article explores the key drivers contributing to the rapid expansion of the automotive electric power steering market.

1. Growing Demand for Fuel Efficiency and Emission Reduction

One of the primary drivers behind the adoption of electric power steering is the increasing demand for fuel efficiency and emission reduction in the automotive industry. Hydraulic power steering systems require an engine-driven pump to operate, which increases the overall load on the engine and reduces fuel efficiency. In contrast, EPS systems are driven by an electric motor, which operates independently of the engine. This reduces the vehicle’s overall energy consumption and improves fuel economy. With growing concerns over environmental pollution and stricter emissions regulations, car manufacturers are increasingly turning to electric power steering systems as a means of reducing carbon footprints and complying with regulatory standards.

2. Advancements in Electric Vehicle (EV) Technology

The rise in electric vehicle production has been another critical driver for the automotive EPS market. Electric vehicles (EVs) require advanced technologies that optimize performance and efficiency, and EPS is an essential part of this equation. Since EPS systems are electrically powered, they are more compatible with electric vehicles than traditional hydraulic systems. Furthermore, EPS systems offer improved control and responsiveness, which enhances the driving experience, particularly in electric vehicles that prioritize comfort and smooth handling. As the demand for EVs continues to rise, the EPS market is set to benefit significantly from this trend.

3. Increasing Consumer Demand for Advanced Driver Assistance Systems (ADAS)

The demand for advanced driver assistance systems (ADAS) is growing rapidly, as consumers seek greater safety, convenience, and comfort in their vehicles. EPS plays a vital role in the functioning of several ADAS features, such as lane-keeping assist, automatic parking, and adaptive cruise control. These systems require precise steering control, which EPS can provide more effectively than traditional hydraulic systems. With the growing emphasis on vehicle safety and the integration of ADAS technologies, the automotive industry is increasingly adopting EPS systems to meet these consumer demands.

4. Technological Advancements in EPS Systems

The development of more sophisticated and efficient electric power steering technologies has significantly contributed to the market’s expansion. Modern EPS systems are equipped with improved sensors, electric motors, and control units that offer better precision, higher reliability, and reduced maintenance costs. Furthermore, advances in software algorithms have allowed manufacturers to fine-tune steering response, making it more adaptable to different driving conditions. These technological improvements have made EPS systems more attractive to automakers and consumers alike, leading to a wider adoption of the technology.

5. Reduced Vehicle Weight

The push toward lightweight vehicles is another key driver of the automotive electric power steering market. In order to meet fuel efficiency and emission reduction targets, automakers are increasingly focusing on reducing the weight of vehicles. Traditional hydraulic power steering systems are relatively heavy due to the pump, hoses, and fluid reservoirs required for operation. On the other hand, EPS systems are significantly lighter because they do not rely on hydraulic fluids or mechanical pumps. The use of EPS helps to reduce the overall weight of the vehicle, which in turn improves fuel efficiency and vehicle performance. This makes EPS an attractive solution for manufacturers seeking to produce lighter, more efficient vehicles.

6. Cost Efficiency and Low Maintenance

Electric power steering systems offer cost efficiency benefits over their hydraulic counterparts. EPS systems require fewer components, which translates to reduced manufacturing and assembly costs. Additionally, the absence of hydraulic fluids and pumps reduces the need for maintenance and repair over the vehicle's lifespan. This reduction in maintenance costs is a key factor driving the adoption of EPS systems, particularly as consumers and fleet operators seek ways to reduce long-term vehicle ownership costs.

7. Rising Safety Standards and Regulations

As governments around the world impose stricter safety regulations on vehicles, automakers are increasingly incorporating technologies that enhance vehicle stability and control. EPS systems provide superior steering response and handling, making them an ideal choice for meeting these enhanced safety standards. Additionally, the integration of EPS with ADAS helps to improve the overall safety of the vehicle by providing better control in emergency situations. The growing emphasis on safety features, coupled with the regulatory pressure on automakers to improve vehicle safety, is driving the widespread adoption of electric power steering.

8. Consumer Preference for Comfort and Convenience

Another important factor driving the growth of the automotive EPS market is the growing consumer preference for vehicles that offer greater comfort and convenience. EPS systems provide smoother and more responsive steering, which improves the overall driving experience. The ability to adjust the steering feel based on driving conditions also adds to the convenience factor. As consumer expectations for comfort and convenience continue to rise, automakers are increasingly adopting EPS systems to meet these needs.

Conclusion

The automotive electric power steering market is being driven by a combination of factors, including the demand for fuel efficiency, advancements in electric vehicle technology, the rise of ADAS, and technological innovations in EPS systems. Additionally, the emphasis on reducing vehicle weight, improving safety standards, and enhancing consumer comfort continues to propel the adoption of EPS. As the automotive industry moves toward greater electrification and technological integration, the electric power steering market is poised for continued growth, with significant benefits for both manufacturers and consumers alike.

[businesstobusiness-b2b]

Electric Power Steering Market By Component, Type (Ceps, Peps, Reps), Mechanism (Collapsible, Rigid), Motor Type, Application, Off-Highway (Construction, Agricultural), EV (BEV, PHEV, HEV), EV Gear Type, And Region

[alexanderrogge]

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[forencisresearch]

Electric Power Steering Market by Type (Column Assist Type, Pinon Assist Type), By Component (Steering Wheel, Column), by Electric Motor Type (Brushed Direct Current Motor, BLDC Motor), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast 2019 to 2027

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[businesstobusiness-b2b]

Electric Power Steering Market by Component, Type (CEPS, PEPS, REPS), Mechanism (Collapsible, Rigid), Motor Type (Brushless, Brush), Application, Off-Highway (Construction, Agricultural), EV (BEV, PHEV, HEV), and Region - Global Forecast to 2025