Automotive Electro Hydraulic Power Steering Market
PUBLISHED: 2023 ID: SMRC22561
SHARE
SHARE

Automotive Electro Hydraulic Power Steering Market

Automotive Electro-Hydraulic Power Steering Market Forecasts to 2028 - Global Analysis By type (R-EHPS, C-EHPS and P-EHPS), Electric Motor (Brushless Motor and Brush Motor), Electric Vehicle (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV) and Plug-in Hybrid Electric Vehicle (PHEV)), Component (Mechanical Rack and Pinion, Bearing, Steering Wheel and Other Components), Application and Geography

4.5 (52 reviews)
4.5 (52 reviews)
Published: 2023 ID: SMRC22561

This report covers the impact of COVID-19 on this global market
Loading...

Years Covered

2020-2028

Estimated Year Value (2022)

US $1.60 BN

Projected Year Value (2028)

US $2.51 BN

CAGR (2022 - 2028)

7.8%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America


According to Stratistics MRC, the Global Automotive Electro-Hydraulic Power Steering Market is accounted for $1.60 billion in 2022 and is expected to reach $2.51 billion by 2028 growing at a CAGR of 7.8% during the forecast period. An electric motor in an automotive electric power steering system assists the driver while driving the car. Sensors monitor the position and torque of the steering column, and a computer module applies assistive torque via the motor, which is connected to either the steering gear or the steering column. Through the employment of an electric motor directly attached to the steering gear or column, automotive electric power steering provides more help than traditional hydraulic power steering.

According to the ACEA European Automobile Manufacturers Association, the automotive sector on the EU suffered production losses amounting to 3.6 million vehicles worth around USD 110.6 billion, during the first half of 2020 alone.



Market Dynamics:

Driver:

Increased production of automobiles

The automotive electro-hydraulic power steering system market is expanding due to its importance in the automotive sector. Growing production of power steering systems in APAC and the Middle East continues as the market's disposable income rises in tandem with population expansion, driving demand and vehicle production. The increase in vehicle sales due to improved fuel efficiency and reduced emissions is likely to drive the global automotive electric power steering market. The utilisation of mass manufacturing techniques and technologies such as artificial intelligence and machine learning are further enhancing the vehicle sector, which will fuel market expansion.

Restraint:

High cost

Increased automation in power steering has raised the price of cars; this will have an impact on sales due to the high cost, with a potential preference for non-power steering systems due to potential cost issues. The cost of converting the vehicles from traditional steering to electro hydraulic steering has also presented challenges. As a result, vehicle owners will be reluctant to change their steering systems.

Opportunity:

Regulatory push toward efficient technologies

Manufacturing businesses are constantly innovating and manufacturing techniques to improve client luxury in their automotive vehicles. Furthermore, due to an increase in the incidence of accidents, the safety and security aspect has been prioritised. As a result, firms are adjusting to a better safety system, which is likely to promote the growth of the automotive electric power steering market over the forecast period.

Threat:

Maintaining market against steer-by-wire technology

The steering market in the automotive industry is constantly evolving in response to the changing dynamics of the sector. OEMs are innovating their conventional steering systems in response to the introduction of autonomous vehicles. Steer-by-wire technology is one such invention that will replace the complete steering mechanism in an autonomous car. This type of steering system will remove the steering linkage of a traditional electric power steering system.

Covid-19 Impact

The pandemic of COVID-19 had a devastating impact on the automobile sector. The supply chain was disrupted as several major economies around the world went into lockdown. All manufacturing units and OEM plants were obliged to suspend production and operations during this period. As economies recovered, the industry saw a boom in demand for passenger automobiles as consumer preferences changed from public transportation to personal vehicles.

The C-EHPS segment is expected to be the largest during the forecast period

The C-EHPS segment is estimated to have a lucrative growth. C-EHPS is a type of electro-hydraulic power steering system that uses a central solenoid to control the flow of oil to both the left and right side cylinders. This type of system is found in high-end luxury vehicles and is often used in conjunction with other driver-assist systems, such as electronic stability control (ESC) or all-wheel drive (AWD). The main benefit of a C-EHPS system is that it provides better feedback to the driver, allowing for more precise steering control.

The passenger cars (PC) segment is expected to have the highest CAGR during the forecast period

The passenger cars (PC) segment is estimated to have a lucrative growth, because of rising demand for sedans, luxury sedans, and mid-range automobiles with strong steering systems to ensure smooth drivability. The phrase typically refers to a vehicle with four or more wheels that is intended for personal transportation. Passenger vehicles account for the vast majority of motor vehicles on the road in North America, Europe, and other industrialised countries. Furthermore, technological improvements in this industry are contributing to the expansion of this market.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period because they produce the most both commercial and passenger vehicles. Furthermore, regions such as China and India are good vehicle producers, and as the demand for more automobiles grows, so does the demand for electro-hydraulic power steering due to the necessity for better steering systems. Because of the existence of a significant number of suppliers and manufacturers, China is likely to be one of the important markets in this region.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, attributable to the presence of a high number of automakers and suppliers in this region. Furthermore, rising demand for passenger and commercial cars in countries such as the United States, Canada, and Mexico is fueling the expansion of the automotive electro-hydraulic power steering system market in North America. Because of the presence of major OEMs like as Volkswagen and Ford Motor Company, Mexico is expected to be one of the key markets in this region.



Key players in the market

Some of the key players profiled in the Automotive Electro-Hydraulic Power Steering Market include Nissan Group, JTEKT Corporation, Hitachi Astemo Americas, Danotek Motion Technologies, Tecnosir s.r.l., Eaton, Allied Motion Inc, GENERAL RICAMBI, ZF Friedrichshafen AG, SEAT S.A, Nexteer Automotive Group Ltd, SHOWA Corporation, Mitsubishi Electric Corporation and Thyssenkrupp

Key Developments:

In September 2022, Robert Bosch AG launched ServoE and Servotwin electro-hydraulic steering systems for heavy commercial vehicles.

In May 2022, NSK Ltd. and ThyssenkruppThyssenKrupp AG signed a Memorandum of Understanding for creating a new joint venture. The newly signed joint venture includes the strategic alignment of product areas in Thyssenkrupp AG's automotive business with NSK Ltd.'s steering business and aims for a partnership approach between the two OEMs. The joint venture is expected to be operational by the end of 2022.

In October 2021, Nexteer Automotive launched its new mCEPs (Modular Column Assist EPS System), The mCEPS has an expandable electronic control system and modular platform which enables it to be cost-effective and highly customizable to suit a wide range of OEMs' requirements.

Types Covered:
• R-EHPS
• C-EHPS
• P-EHPS

Electric Motors Covered:
• Brushless Motor
• Brush Motor

Electric Vehicles Covered:
• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)
• Plug-in Hybrid Electric Vehicle (PHEV)

Components Covered:
• Mechanical Rack and Pinion
• Bearing
• Steering Wheel
• Steering Gear
• Steering Column
• Electronic Control Unit
• Sensors
• Electric Motor

Applications Covered:
• Commercial Vehicles (CV)
• Passenger Cars (PC)

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Automotive Electro-Hydraulic Power Steering Market, By Type
5.1 Introduction
5.2 R-EHPS
5.3 C-EHPS
5.4 P-EHPS

6 Global Automotive Electro-Hydraulic Power Steering Market, By Electric Motor
6.1 Introduction
6.2 Brushless Motor
6.3 Brush Motor

7 Global Automotive Electro-Hydraulic Power Steering Market, By Electric Vehicle
7.1 Introduction
7.2 Battery Electric Vehicle (BEV)
7.3 Hybrid Electric Vehicle (HEV)
7.4 Plug-in Hybrid Electric Vehicle (PHEV)

8 Global Automotive Electro-Hydraulic Power Steering Market, By Component
8.1 Introduction
8.2 Mechanical Rack and Pinion
8.3 Bearing
8.4 Steering Wheel
8.5 Steering Gear
8.6 Steering Column
8.8 Electronic Control Unit
8.8 Sensors
8.9 Electric Motor

9 Global Automotive Electro-Hydraulic Power Steering Market, By Application
9.1 Introduction
9.2 Commercial Vehicles (CV)
9.2.1 Mid-Size
9.2.2 Luxury
9.2.3 SUV
9.2.4 Compact
9.3 Passenger Cars (PC)
9.3.1 HCVs
9.3.2 LCVs

10 Global Automotive Electro-Hydraulic Power Steering Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa

11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies

12 Company Profiling
12.1 Nissan Group
12.2 JTEKT Corporation
12.3 Hitachi Astemo Americas
12.4 Danotek Motion Technologies
12.5 Tecnosir s.r.l.
12.6 Eaton
12.7 Allied Motion Inc
12.8 GENERAL RICAMBI
12.9 ZF Friedrichshafen AG
12.10 SEAT S.A
12.11 Nexteer Automotive Group Ltd
12.12 SHOWA Corporation
12.13 Mitsubishi Electric Corporation
12.14 Thyssenkrupp

List of Tables
1 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Region (2020-2028) ($MN)
2 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Type (2020-2028) ($MN)
3 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By R-EHPS (2020-2028) ($MN)
4 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By C-EHPS (2020-2028) ($MN)
5 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By P-EHPS (2020-2028) ($MN)
6 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Electric Motor (2020-2028) ($MN)
7 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Brushless Motor (2020-2028) ($MN)
8 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Brush Motor (2020-2028) ($MN)
9 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Electric Vehicle (2020-2028) ($MN)
10 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Battery Electric Vehicle (BEV) (2020-2028) ($MN)
11 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Hybrid Electric Vehicle (HEV) (2020-2028) ($MN)
12 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Plug-in Hybrid Electric Vehicle (PHEV) (2020-2028) ($MN)
13 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Component (2020-2028) ($MN)
14 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Mechanical Rack and Pinion (2020-2028) ($MN)
15 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Bearing (2020-2028) ($MN)
16 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Steering Wheel (2020-2028) ($MN)
17 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Steering Gear (2020-2028) ($MN)
18 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Steering Column (2020-2028) ($MN)
19 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Electronic Control Unit (2020-2028) ($MN)
20 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Sensors (2020-2028) ($MN)
21 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Electric Motor (2020-2028) ($MN)
22 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Application (2020-2028) ($MN)
23 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Commercial Vehicles (CV) (2020-2028) ($MN)
24 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Mid-Size (2020-2028) ($MN)
25 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Luxury (2020-2028) ($MN)
26 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By SUV (2020-2028) ($MN)
27 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Compact (2020-2028) ($MN)
28 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By Passenger Cars (PC) (2020-2028) ($MN)
29 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By HCVs (2020-2028) ($MN)
30 Global Automotive Electro-Hydraulic Power Steering Market Outlook, By LCVs (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
 

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.

WHY CHOOSE US ?

Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

Testimonials