Press release
Electric Power Steering System (EPS) Research:CAGR of 2.7% during the forecast period
Automotive Electronic Power Steering is a very popular steering system, a power steering system that directly relies on the motor to provide auxiliary torque; Currently, most of the vehicle are installed the electronic power steering system, and the electronic power steering system can reduce about 5% fuel consumption.
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https://www.qyresearch.com/reports/2162657/electric-power-steering-system--eps
Electric Power Steering System (EPS) Market Summary
Automotive Electronic Power Steering is a very popular steering system, a power steering system that directly relies on the motor to provide auxiliary torque; Currently, most of the vehicle are installed the electronic power steering system, and the electronic power steering system can reduce about 5% fuel consumption.
According to the new market research report "Global Electric Power Steering System (EPS) Market Report 2023-2029", published by QYResearch, the global Electric Power Steering System (EPS) market size is projected to reach USD 20.38 billion by 2029, at a CAGR of 2.7% during the forecast period.
Global Electric Power Steering System (EPS) MarketSize(US$ Million), 2018-2029
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Above data is based on report from QYResearch: Global Electric Power Steering System (EPS) Market Report 2023-2029 (published in 2023). If you need the latest data, plaese contact QYResearch.
Global Electric Power Steering System (EPS) Top13Players Rankingand Market Share (Ranking is based on the revenue of 2022, continually updated)
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Above data is based on report from QYResearch: Global Electric Power Steering System (EPS) Market Report 2023-2029 (published in 2023). If you need the latest data, plaese contact QYResearch.
According to QYResearch Top Players Research Center, the global key manufacturers of Electric Power Steering System (EPS) include JTEKT, Bosch, Nexteer, ZF, NSK, Hitachi Astemo (Showa), Hyundai Mobis, Thyssenkrupp, Mando, CAAS, etc.
In 2022, the global top 10 players had a share approximately 94.0% in terms of revenue.
Electric Power Steering System (EPS),Global Market Size, Split by Product Segment
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Based on or includes research from QYResearch: Global Electric Power Steering System (EPS) Market Report 2023-2029.
In terms of product type, currently C-EPS is the largest segment, hold a share of 41.8%.
Market Drivers:
Fuel Efficiency and Emissions Reduction: The emphasis on fuel efficiency and the need to reduce vehicle emissions drive the adoption of Electric Power Steering Systems (EPS) as they contribute to overall energy savings.
Vehicle Safety and Performance: EPS systems enhance vehicle safety and performance by providing precise control and responsiveness, which is a key driver for their integration into modern vehicles.
Growing Automotive Production: The increasing global production of automobiles contributes to the rising demand for EPS systems as manufacturers seek advanced and efficient steering solutions.
Advancements in Electric Vehicles: With the growth of electric vehicles, EPS becomes crucial due to its compatibility with electric drivetrains, creating opportunities for EPS in the electric vehicle market.
Restraint:
Initial Implementation Costs: The initial implementation costs of integrating EPS systems can be relatively high, acting as a restraint for some vehicle manufacturers, particularly in cost-sensitive markets.
Maintenance and Reparability Concerns: Some concerns related to the maintenance and reparability of EPS systems may exist, which could impact their adoption in certain markets.
Opportunity:
Integration with Autonomous Vehicles: The rise of autonomous vehicles creates opportunities for EPS systems, as precise and electronically controlled steering is essential for the development and operation of self-driving cars.
Aftermarket Upgrades: There is a growing market for aftermarket upgrades, providing opportunities for the retrofitting of EPS systems in older vehicles, enhancing their steering capabilities.
Global Expansion and Emerging Markets: The expansion of the automotive market globally and the emergence of new markets present opportunities for EPS system manufacturers to tap into diverse regions with varying steering requirements.
The report provides a detailed analysis of the market size, growth potential, and key trends for each segment. Through detailed analysis, industry players can identify profit opportunities, develop strategies for specific customer segments, and allocate resources effectively.
The Electric Power Steering System (EPS) market is segmented as below:
By Company
JTEKT
Bosch
Nexteer
ZF
NSK
Hitachi Astemo (Showa)
Hyundai Mobis
Thyssenkrupp
Mando
CAAS
Zhuzhou Elite
Yubei
Zhejiang Shibao
Segment by Type
C-EPS
P-EPS
DP-EPS
R-EPS
Segment by Application
Passenger Car
Commercial Vehicle
Each chapter of the report provides detailed information for readers to further understand the Electric Power Steering System (EPS) market:
Chapter 1: Introduces the report scope of the Electric Power Steering System (EPS) report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry. (2019-2030)
Chapter 2: Detailed analysis of Electric Power Steering System (EPS) manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc. (2019-2024)
Chapter 3: Provides the analysis of various Electric Power Steering System (EPS) market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments. (2019-2030)
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.(2019-2030)
Chapter 5: Sales, revenue of Electric Power Steering System (EPS) in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world..(2019-2030)
Chapter 6: Sales, revenue of Electric Power Steering System (EPS) in country level. It provides sigmate data by Type, and by Application for each country/region.(2019-2030)
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc. (2019-2024)
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
Benefits of purchasing QYResearch report:
Competitive Analysis: QYResearch provides in-depth Electric Power Steering System (EPS) competitive analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.
Industry Analysis: QYResearch provides Electric Power Steering System (EPS) comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis.
and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.
Market Size: QYResearch provides Electric Power Steering System (EPS) market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.
Other relevant reports of QYResearch:
Global Electric Power Steering System (EPS) Market Research Report 2024
Electric Power Steering System (EPS) - Global Market Insights and Sales Trends 2024
Global Electric Power Steering System (EPS) Market Research Report 2023
Global Electric Power Steering System (EPS) Sales Market Report 2023
Global Electric Power Steering System (EPS) Industry Research Report, Growth Trends and Competitive Analysis 2023-2029
Global Electric Power Steering System (EPS) Market Report, History and Forecast 2018-2029, Breakdown Data by Manufacturers, Key Regions, Types and Application
Global and United States Electric Power Steering System (EPS) Market Report & Forecast 2023-2029
Global Electric Power Steering System (EPS) Market Insights, Forecast to 2029
Global and United States Electric Power Steering System (EPS) Market Report & Forecast 2022-2028
Global and Vietnam Electric Power Steering System (EPS) Market Report & Forecast 2022-2028
United States Electric Power Steering System (EPS) Market Report & Forecast 2021-2027
About Us：
QYResearch founded in California, USA in 2007, which is a leading global market research and consulting company. Our primary business include market research reports, custom reports, commissioned research, IPO consultancy, business plans, etc. With over 17 years of experience and a dedicated research team, we are well placed to provide useful information and data for your business, and we have established offices in 7 countries (include United States, Germany, Switzerland, Japan, Korea, China and India) and business partners in over 30 countries. We have provided industrial information services to more than 60,000 companies in over the world.
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