EPA with ADAS Technology Go Hand-in-Hand in the Automotive Industry

Stakeholders in the automotive electric power steering (EPS) landscape are focusing on various technological innovations. Automotive electric power steering systems are being incorporated in increasing number of passenger and light commercial vehicles.

As far as commercial vehicles are concerned, stakeholders in the automotive electric power steering business are increasing the use of lightweight, compact, and high-output hydraulic assist power steering gears. Thus, the technology of power steering equipment is leveraged with the help of high-performance brakes and suspensions that enhance control on a vehicle’s behavior. As such, stakeholders are advancing developments to strengthen electronics and electrification technologies in commercial vehicles. Thus, the development of robust electrification products such as electric motors, column assists, EPS with advanced driver assistance systems (ADAS), and autonomous driving products is being increasing witnessed in the landscape.

For instance, in December 2018, Hitachi Automotive Systems, Ltd. — a leading manufacturer of automotive components, announced the redirection of its commercial vehicle steering trade to Knorr-Bremse — a global market leader for braking systems. This strategic move by Hitachi Automotive Systems, Ltd. was taken to leverage Knorr-Bremse’s steering control technologies and advanced driver assistance systems.

automotive electric power steering market infographic

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Auxiliary Power Supply Systems Leverage Conventional EPS

To establish the efficient performance of automotive electric power steering systems, stakeholders are trying to closely understand the science of the effects of the weight of a dual-motor full-weight EPS system. This has led to the understanding of fault-tolerant control strategies that stakeholders are likely to adopt. Thus, after comparison between conventional single-weight EPS systems with dual-motor full-weight EPS systems, it has been proven that, full-weight EPS systems enhance stability control, improve fault-tolerance performance, and make vehicle driving much easier.

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As such, stakeholders and car manufacturers in the automotive electric power steering landscape are increasingly using advanced driver assistance systems and automated driving (AD) technology in full-size vehicles. Since full-size vehicles are equipped with more than 12 volts of power supply, there is an increased demand for electric power steering systems. Thus, in order to leverage the functionality of electric power steering systems, stakeholders in the automotive electric power steering landscape are backing EPS systems with hydraulic power steering technology. Since hydraulic power steering systems are challenged with electric power shortage, an auxiliary power supply system using lithium-ion capacitors are being used to overcome the same.

Differential Braking Technology to Overcome Weight, Cost, and Complexity Limitations

To overcome the technological limitations of automotive electric power steering systems, stakeholders are doubling up on critical components. However, doubling the critical components to develop fail-safe operations of electric power steering systems adds additional weight, cost, and complexity to these systems. As such, stakeholders are overcoming these limitations with the help of differential braking technology. Differential braking helps turn the vehicle in the desired path by applying brakes on the inside wheels. Thus, car manufacturers are increasingly using differential braking technology in self-driving vehicles.

Likewise, car owners of the newer versions of Honda Civic and Accord have encountered technological issues such as disorderly functioning of EPS systems. In many cases, the car’s power steering stopped functioning without any warning, due to which, the owners faced difficulty in turning, and some individuals encountered the disorderly lighting up of the lights of the EPS dashboard. Thus, stakeholders are conducting rigorous research & development to overcome such technological issues in EPS systems.

automotive electric power steering market segmentation

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Analysts’ Viewpoint

Analysts of the automotive electric power steering market have a positive outlook for the forecast period of 2019-2027. Stakeholders are creating increased novel technologies in the automotive electric power steering landscape, with the market in Asia Pacific projected to grow the fastest. Overall, the global market is projected to flourish at ~5% CAGR. Key market players in the automotive electric power steering market are introducing new technologies such as steering systems with variable ratios, also known as adaptive steering. Variable ratio steering technology is being adopted, since it makes vehicles more maneuverable, allowing easier turning, as it enforces more steering into the front wheels. However, manufacturers in the automotive electric power steering landscape need to overcome additional weight, cost, complexity, and technological limitations of EPS systems with differential braking and increased research & development activities.

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Global Automotive Electric Power Steering Market - Key Insights

  • The global automotive electric power steering market is anticipated to expand at a CAGR of ~5% between 2019 and 2027.
  • ADAS is a prominent segment of the automotive electric power steering market, as the penetration of the ADAS system is rising significantly across the automotive industry, along with the adoption of smart technology for vehicles.
  • In terms of motor assist, the column assist segment is likely to expand at a rapid pace in the automotive electric power steering market, as compared to the other segments, owing to the high penetration of column assist EPS in passenger vehicles.
  • The penetration of automotive electric power steering systems is anticipated to rise at a notable pace during the forecast period, as the technology has various advantages over the existing hydraulic power steering technology, such as low maintenance cost and assistance in providing higher fuel efficiency.

Drivers of Global Automotive Electric Power Steering Market

The global automotive electric power steering market is projected to expand during the forecast period because these systems improve the handling experience of vehicles. Furthermore, they provide better fuel-efficiency as compared to those vehicles installed with hydraulic steering systems, and possess several other advantages over hydraulic power steering systems.

  • The high demand for vehicles with good steerability is a key factor driving the automotive electric power steering market. This system enables in reducing the effort required to turn or steer a vehicle.
  • Automotive electric power steering possesses several advantages over existing competing technologies, such as hydraulic power steering systems and electro hydraulic power steering systems, which, in turn, is encouraging manufacturers as well as consumers to prefer automotive electric power steering systems over other technologies.
  • Fuel economy has been a major concern for manufacturers and vehicle owners. An automotive electric power steering system provides significantly high fuel-efficiency among all the competing technologies, as it operates independently with an electric motor that is driven by a battery. This, in turn, is boosting the market attractiveness of automotive electric power steering as compared to other technologies.
  • Low maintenance and servicing cost of automotive electric power steering systems is likely to drive the market, due to the absence of hydraulic pumps, which eliminates the chances of fluid leakage.

Challenges for Automotive Electric Power Steering Market

  • An automotive electric power steering system comprises a large number of electronic components, and the failure of the electronics is a major factor restraining the automotive electric power steering market. Furthermore, some consumers prefer a hydraulic power steering system over an automotive electric power steering system, which, in turn, is estimated to hamper the automotive electric power steering market.

Automotive Electric Power Steering Market: Segment Analysis

  • The global automotive electric power steering market has been segmented based on motor assist, technology, component, vehicle, and region.
  • Based on motor assist, the column assist segment is anticipated to expand at a rapid pace and hold a prominent share of the global automotive electric power steering market during the forecast period. Column assist systems are preferred in passenger vehicles, which hold a notable share in the automotive industry. Therefore, the segment is likely to expand along with a rise in the production of passenger vehicles.
  • In terms of technology, the conventional EPS system segment is likely to hold a major share of the global automotive electric power steering market. However, EPS with ADAS (advanced driver assistance system) is a prominent segment of the global automotive electric power steering market, and is likely to expand at a notable pace during the forecast period. The high rate of adoption of ADAS enabled technologies, such as lane keep assist systems and adaptive cruise control, is likely to drive the ADAS segment. Moreover, premium segment vehicles are expected to drive the segment, as most premium vehicles are equipped with ADAS.
  • In terms of component, the EPS control module is a considerably expensive component of the system. Thus, the segment is expected to hold a major share of the global automotive electric power steering market in terms of value. However, in terms of volume, all segments are expected to hold approximately equal share of the market, as all the components mentioned above are an integral part of the system.
  • In terms of vehicle, the passenger vehicles segment accounts for a key share of the automotive electric power steering market. It is likely to hold a major share of the market during the forecast period, owing to the high penetration of electric power steering systems in passenger vehicles. Furthermore, the production of passenger vehicles is significantly high as compared to that of other vehicles. Heavy commercial vehicles is expected to be a notable segment, as the rate of adoption of global automotive electric power steering for heavy commercial vehicles is higher than that in other vehicles.

Global Automotive Electric Power Steering Market: Regional Analysis

  • In terms of region, Asia Pacific is projected to hold a prominent share of the global automotive electric power steering market, owing to the high production of vehicles in the region.
  • The presence of a large consumer base in Asia Pacific and large number of manufacturing facilities have been a boon for the automotive industry in the region, which, in turn, is likely to drive the automotive electric power steering market in the region.
  • Europe is another key market for automotive electric power steering systems, owing to the presence of a large number of production facilities for premium vehicles, which are mostly equipped with automotive electric power steering systems.

Global Automotive Electric Power Steering Market: Competitive Landscape

Key players operating in the global automotive electric power steering market include

  • JTEKT Corporation
  • DENSO Corporation
  • Sona Koyo Steering Systems Ltd.
  • ZF Friedrichshafen AG, GKN plc.
  • Robert Bosch GmbH, NSK Ltd.
  • Mitsubishi Electric Corporation
  • China Automotive Systems, Inc.
  • Delphi Technologies
  • Hyundai Mobis
  • Thyssenkrupp Business Area Components Technology
  • SHOWA Corporation
  • Mando Corp.
  • Global Steering Systems
  • Zhejiang Shibao Company Limited
  • TRIDEC
  • Hitachi Automotive Systems.

Automotive Electric Power Steering Market - Scope of the Study

[347 Pages Report] Transparency Market Research (TMR), in its recently published report, sheds light on the growth of the automotive electric power steering market over the course of the forecast period of 2019-2027. This business study outlines the key trends and significant developments that are observed in the automotive electric power steering market. In addition to this, the global study also provides market intelligence about the automotive electric power steering landscape, by taking into consideration the key drivers, restraints, threats and, opportunities.

This comprehensive business study also offers information regarding the macroeconomic and microeconomic factors that could aid in comprehending the growth potential of the automotive electric power steering market during the forecast period of 2019-2027.

The size of the automotive electric power steering market is evaluated in terms of value (US$ Mn) and volume (Thousand Units). The information covered in this study on the automotive electric power steering market will help stakeholders identify lucrative opportunities for business advancement. This comprehensive guide outlines the key market players operating in the automotive electric power steering market, in order to offer key actionable insights regarding the strategies adopted by them, so as to aid them in gaining an upper hand in the competitive landscape. This exclusive research report also offers a detailed overview of the market players, along with their strategies, financial position, and notable developments.

Automotive Electric Power Steering Market - Segmentation

This comprehensive market study on the automotive electric power steering market offers a comprehensive analysis of the attractiveness of the automotive electric power steering market by assessing the key segments. The global business study also highlights a country-wise evaluation, with a view to comprehend the scale of technological innovations made in the automotive electric power steering market.

Each of these segments have been analyzed and studied in this comprehensive report, with a view of offering actionable insights regarding the future growth of the automotive electric power steering market. This detailed guide on the automotive electric power steering market offers the historical, current, and futuristic trends shaping the growth of the landscape. In addition to this, this detailed guide also presents crucial information on the value chain, Y-o-Y growth, and supply chain. The business study assesses the automotive electric power steering market on the basis of motor assist, technology, component, vehicle, and region.

Motor Assist

Column Assist

Pinion Assist

Rack Assist

Technology

Conventional EPS

EPS with ADAS

Component

EPS Control Modules

Electric Motors

Racks & Pinions

Steering Columns

Vehicle

Passenger Vehicles

Light Commercial Vehicles

Heavy Commercial Vehicles

Region

North America

Latin America

Europe

Asia Pacific

Middle East & Africa

Automotive Electric Power Steering Market - Key Questions Answered

The global study on the automotive electric power steering market encapsulates an overview, presenting rare and distinguishing insights that cover information culled from a microscopic as well as macroscopic level of market study. This exclusive research report also provides salient answers to crucial questions concerning stakeholders in the automotive electric power steering market. Some of the crucial questions answered in this comprehensive research report are:

  • What are the crucial macroeconomic and microeconomic trends catapulting the growth of the automotive electric power steering market?
  • What is the automotive electric power steering demand scenario in terms of volume and value?
  • How will the automotive electric power steering market evolve in the technology segment for the forecast period of 2019-2027?
  • What are the key restraints and threats observed by stakeholders for the motor assist segment in the automotive electric power steering market?

Automotive Electric Power Steering Market - Research Methodology

A robust research methodology, combining primary and secondary research, was employed to compile the report on the automotive electric power steering market. For conducting primary research, opinion leaders, business heads, key market players, and manufacturers were consulted for acquiring important insights. For conducting secondary research, press releases, financial reports, and publications were referred to, to enhance the credibility and reliability of the report on the automotive electric power steering market.

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