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New Report on Automotive Electro-hydraulic Power Steering Market 2020 Precise Outlook- JTEKT Corporation, Nexteer Automotive, NSK Ltd., Robert Bosch GmbH, ZF Friedrichshafen AG, Showa Group
The global electro-hydraulic power steering market is anticipated to register a CAGR of over 8% during the forecast period (2020 - 2025).As most vehicles now-a-days have become heavier and switched to front wheel drive, along with an increase in tire diameter and width, the effort needed to turn the steering wheel manually would also increase. To reduce the manual effort, power steering or rather power-assisted steering were introduced to assist the driver. An advantage of power steering is its speed adjustable characteristic, where the steering is assisted more at low speed and assisted lightly at high speed so as to increase the control over the vehicle. This feature has gradually become a commonplace across all new vehicles. Of the different types of steering systems available now-a-days, electro-hydraulic power steering is one of them.
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The global automotive electro-hydraulic power steering system market is segmented by vehicle type and geography. The commercial vehicle segment held the largest market share in 2018, accounting for nearly 75% of the market.
Automotive Electro-hydraulic Power Steering Market Segmentation:
Top leading Manufactures Profiled in Automotive Electro-hydraulic Power Steering Market Report are:
JTEKT Corporation, Nexteer Automotive, NSK Ltd., Robert Bosch GmbH, ZF Friedrichshafen AG, Showa Group, Danfoss, Continental AG, thyssenkrupp AG, Mando Corporation
Automotive Electro-hydraulic Power Steering Market Scenario:
Advancements in Electric Power Steering (EPS) Technology Phasing Out the Electro-Hydraulic System
Failure of steering systems in vehicles, such as Ford Focus (2008) and Mercury Mariner SUV, helped in bringing about significant changes in electric power steering (EPS) technologies, driven by the improvements and advancements of steering sensors.
An electric power steering (EPS) does not use any form of hydraulic pressure to provide the steering assistance. This technology is fully electronic, and uses an electric motor to provide direct assistance. Since there is no power lost in generating and transmitting the hydraulic power, these systems are typically more efficient than the conventional hydraulic or electro-hydraulic steering systems. Furthermore, EPS systems are less complex than hydraulic systems. Hence, they are easier to manufacture. Moreover, car owners find it easier to maintain these systems, as there are less fluids and oils involved.
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Competitive Landscape
Some of the major players dominating the global market are JTEKT Corporation, Nexteer Automotive Group Ltd, ZF Friedrichshafen AG , NSK Ltd., and Robert Bosch GmbH.
There are few players in the market who hold a major share in the market. The players prefer a long-standing partnership with the major OEMs and are OEMs preferred suppliers for steering systems. The top 5 players hold almost 75% of the market as of 2019.
The key insights of the Automotive Electro-hydraulic Power Steering Market report:
─The report provides key statistics on the market status of the Automotive Electro-hydraulic Power Steering market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
─The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
─The Automotive Electro-hydraulic Power Steering market report presents the company profile, product specifications, capacity, production value, and 2014-2020 market shares for key vendors.
─The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
─The report estimates 2020-2025 market development trends of Automotive Electro-hydraulic Power Steering Market.
─Analysis of upstream raw materials, downstream demand and current market dynamics is also carried out
─The report makes some important proposals for a new project of Automotive Electro-hydraulic Power Steering Industry before evaluating its feasibility.
The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the report an invaluable resource for company executives, marketing executive, sales and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
In conclusion, Automotive Electro-hydraulic Power Steering market report presents the descriptive analysis of the parent market supported elite players, present, past and artistic movement information which is able to function a profitable guide for all the Automotive Electro-hydraulic Power Steering Industry business competitors. Our expert research analyst’s team has been trained to provide in-depth market research report from every individual sector which will be helpful to understand the industry data in the most precise way.
How we have factored the effect of Covid-19 in our report:
All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
Contact US:
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234
Mob: +91-750-707-8687
sales@marketinsightsreports.com
irfan@marketinsightsreports.com
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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