Press release
Electrifying the Drive : Trends in the Automotive Electric Power Steering Market Forecast, 2023-2032
The growth of the automotive electric power steering market is driven by advancements in compact and cost-effective motor controller units. These advancements offer several benefits that contribute to the increased adoption of EPS technology. As vehicles become more compact and manufacturers aim to maximize interior space, it is crucial to install EPS components without compromising other functionalities. The development of compact motor control units allows efficient packaging and integration of EPS systems, making them more accessible for various vehicle models.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ : https://www.alliedmarketresearch.com/request-sample/7601
Moreover, manufacturers focus on miniaturizing the motor control unit by utilizing advanced electronic components and integrated circuitry. For instance, in September 2020, DENSO Corporation announced the development of a new Electric Power Steering Motor Control Unit (EPS-MCU) that enhances vehicle handling and safety. The EPS-MCU has been incorporated into the TOYOTA NEW HARRIER, released in June 2020, and is expected to be used in vehicles from various automakers. The ECU achieves a 10% reduction in size and cost compared to its predecessor, DENSO Dual Assist 1st Generation (DDA1). The availability of cost-effective motor controller units lowers the overall expenses associated with producing EPS technology. This cost reduction makes EPS systems more economically viable for automakers, enabling them to incorporate EPS technology into a broader range of vehicle models. Therefore, the rise in the development of compact and cost-effective motor control units for EPS drives the growth of the market.
In addition, the government of various countries is increasingly implementing regulations and standards that promote the adoption of electric power steering. They set fuel efficiency targets or emissions regulations that encourage automakers to incorporate electric power steering as a means to improve vehicle efficiency and reduce environmental impact.
On the basis of type, the global automotive electric power steering industry is segmented into column electric power steering, rack electric power steering, and pinion electric power steering. The column electric power steering is an electric power steering system utilized in vehicles where the electric motor and associated components are integrated directly within the steering column. This configuration enables the motor to provide power assistance to the steering wheel, transmitting torque to the steering mechanism and facilitating wheel movement.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ : https://www.alliedmarketresearch.com/automotive-electric-power-steering-market/purchase-options
A rise in demand has been witnessed for column electric power steering systems as it eliminates the need for additional space-consuming components, resulting in a more compact and efficient system. Moreover, manufacturers aim to develop products to offer flexible solutions for various vehicle platforms, accommodating different vehicle sizes and specifications. For instance, in October 2021, Nexteer Automotive, an automotive technology company developed a modular C-EPS system to address the evolving needs of the automotive industry. The system integrates the electric power steering motor and other components into the steering column, providing precise and efficient steering assistance. Therefore, the introduction of modular Column Assist Electric Power Steering (C-EPS) systems is expected to drive a continuous push for technological advancements in the field of electric power steering. These advancements can stimulate competition and accelerate the growth of the market segment.
๐๐๐๐๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ :
Robert Bosch GmbH
Zhejiang Shibao Co., Ltd.
BBB Industries
Nexteer Automotive
HL Mando Corp.
Hitachi, Ltd.
NSK Ltd.
JTEKT Corporation
ThyssenKrupp AG
ZF Friedrichshafen AG
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/7601
๐๐๐ ๐ ๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐ :
By type, the pinion electric power steering segment is anticipated to exhibit significant growth in the near future.
By vehicle type, the commercial vehicles segment is anticipated to exhibit significant growth in the near future.
By propulsion type, the electric segment is anticipated to exhibit significant growth in the near future.
By component, the electric control unit segment is anticipated to exhibit significant growth in the near future.
By region, Europe is anticipated to register the highest CAGR during the forecast period.
๐๐๐๐ ๐๐จ๐ซ๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ :
๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐๐ ๐๐ข๐ ๐ก๐ญ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ : https://www.globenewswire.com/en/news-release/2023/07/25/2710190/0/en/Automotive-LED-Lighting-Market-to-Generate-32-2-Billion-by-2031-Allied-Market-Research.html
๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐ซ๐๐๐ญ๐ข๐จ๐ง ๐๐ง๐ฏ๐๐ซ๐ญ๐๐ซ๐ฌ ๐๐๐ซ๐ค๐๐ญ : https://www.prnewswire.com/news-releases/automotive-traction-inverter-market-to-reach-46-3-billion-globally-by-2032-at-16-4-cagr-allied-market-research-301888425.html
๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐๐ข๐ง๐ญ๐ฌ ๐๐๐ซ๐ค๐๐ญ : https://www.globenewswire.com/en/news-release/2023/03/24/2634084/0/en/Automotive-Paints-Market-Size-to-Reach-29-7-Billion-by-2031-Allied-Market-Research.html
๐๐จ๐ง๐ญ๐๐๐ญ :
David Correa
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Corporation Trust Center,
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help@alliedmarketresearch.com
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