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Automotive R-EPS Steering Market: Introduction

  • Based on the position of the assist motor, the four types of electric power steering systems are column assist type (C-EPS), the pinion assist type (P-EPS), the direct drive type (D-EPS), and the rack assist type (R-EPS)
  • The R-EPS steering has a motor and controller usually located parallel to the rack or at the interface between rack and steering column in the engine compartment. R-EPS systems are best suited for use on mid to full-sized vehicles due to their relatively low inertia from high reduction gear ratio and high rack force, ranging between 9 and 16 kN.

Key Drivers of Automotive R-EPS Steering Market

  • Issues with C-EPS or P-EPS are because the motor is placed on the steering axis; vibrations from the motor are directly transmitted to the steering wheel, and the driver’s steering inputs are not linearly communicated to tires. This leads to vehicle accidents. National Highway Traffic Safety Administration (NHTSA) of the U.S. stated that in first nine months of 2020, traffic fatalities rose 4.6% as compared to the last year even though the miles driven per vehicle were less by 14.5%. These factors have raised concerns about vehicle safety. Automakers are consistently developing their vehicle models with safety as the major focus. The R-EPS provides improved steering performance for vehicles with higher axle loads and also optimizes space in the engine compartment due to its compactness and placement. Thus, growing safety concerns are fueling the global automotive R-EPS steering market.
  • Awareness about the environment is rising, as emission from vehicles are significantly degrading air quality worldwide. International Energy Agency states that transportation is responsible for 24% of direct CO2 emissions from fuel combustion. It also states that emissions from trucks and buses have risen by around 2.6% annually in the last decade. Regulatory agencies of various countries have imposed stringent emission norms due to these growing concerns about transportation emissions. Consequently, automakers are integrating new electrically powered steering systems in their vehicles, which reduce the load on engine, provide more ease in driving, and comply with emission standards. The R-EPS steering system, due to its high assist force, enables drivers of heavy vehicles to steer easily. Moreover, they reduce the load on engine as compared to hydraulic power steering, which in turn decreases pollution. Therefore, a rise in the need for emission reduction is boosting the global automotive R-EPS steering market.

Challenges in Automotive R-EPS Steering Market

  • The R-EPS steering system employs several additional components such as an electric hollow shaft motor and sensors. These additional components increase the cost of the steering system, which in turn reflects on the price of the vehicle. Furthermore, the maintenance and repair of such systems becomes complicated, which hampers the global automotive R-EPS steering market.

Impact of COVID-19 pandemic on Automotive R-EPS Steering Market

  • The COVID-19 pandemic disrupted automotive supply chains, thus creating a shortage of raw materials and components. This disruption has negatively impacted the global automotive R-EPS steering market. Chip shortage has also resulted in a reduction in production of vehicles, which further hampered the demand for R-EPS steering systems. However, as the COVID-19 pandemic is getting under control in the U.S., Canada, and many other countries, business activities are being restored to normal, which is boosting the sale of vehicles and consequently, driving the demand for automotive R-EPS steering systems.

North America and Europe to Hold Significant Share of Automotive R-EPS Steering Market

  • Governments in North America and Europe have strengthened their regulations related to safety of drivers and mandated some levels of advance driver assistance system (ADAS) in vehicles. This has boosted the adoption of electric power steering systems in all class of vehicles in these regions. Hence, North America and Europe account for a significant share of the global automotive R-EPS steering market.

Key Players Operating in Automotive R-EPS Steering Market

The global automotive R-EPS steering market is highly concentrated due to the presence of top manufacturers. A few of the key players operating in the automotive R-EPS steering market are:

  • Beijing Jingwei Hirain Technologies Co., Inc.
  • Deco Automotive CO., LTD
  • HEllA KgaA Hueck & Co.
  • Hitachi Automotive Systems Ltd.
  • JTEKT Corporation
  • Mando Corp.
  • Nexteer Automotive
  • Robert Bosch GmbH
  • SHOWA CORPORATION
  • thyssenkrupp AG
  • ZF Friedrichshafen AG

Global Automotive R-EPS Steering Market: Research Scope

Global Automotive R-EPS Steering Market, by Component

  • Controllers
  • Motor
  • Sensor
  • Others

Global Automotive R-EPS Steering Market, by Drive

  • Direct Drive
  • Belt Drive

Global Automotive R-EPS Steering Market, by Vehicle Type

  • Passenger Vehicle
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

Global Automotive R-EPS Steering Market, by Sales Channel

  • OEM
  • Aftermarket

Global Automotive R-EPS Steering Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Nordic Region
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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