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Electrohydraulic Steering System Market

Electrohydraulic Steering System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

Electrohydraulic Steering System: Introduction

  • In a conventional hydraulic steering system, the hydraulic system is likely to extract power from the engine, further it lowers the total power output of the car and decreases the fuel mileages of the car marginally. On other hand, in the electrohydraulic steering system, the power to the hydraulic system is delivered by the electric motor and not by engine directly. The engine load does not change in case of electro hydraulic steering system, which is being delivered by motor and battery.
  • In an electrohydraulic steering system, an electric motor drives the pump, which is controlled by the ECU, according to the required assisting steering force from the driver and the motor is only activated only when the driver is steering. The system uses valves to control the flow of cylinder.

Key Drivers of Global Electrohydraulic Steering System Market:

  • Rise in production of vehicles in the automotive industry for safe and comfortable driving is rapidly boosting the usage of electro hydraulic steering system, which is likely to propel the electrohydraulic steering system market across the globe
  • A majority of vehicle owners are concerned about their vehicle’s comfort, safe driving, fuel consumption, and ease of steering. The electro hydraulic steering system enables easy steering at low speed, as compared to conventional hydraulic steering system. This is estimated to boost the demand for electrohydraulic steering systems among consumers, and subsequently, fuel the electrohydraulic steering system market across the globe.
  • Key players operating in electrohydraulic steering system market are funded by public or private investments. Investment from numerous sectors and players in the automotive industry is highly concentrated on product portfolios expansion. Key players are likely to focus on mergers and acquisitions in order to expand and consolidate their position in the electrohydraulic steering system market across the globe.

Electrohydraulic Steering System Market to Offer Attractive Opportunities:

  • Production of passenger and commercial vehicles is increasing at a rapid pace owing to high demand from consumers. Commercial vehicles provide better safety, security, and comfort, as they are equipped with several advanced technologies including electrohydraulic steering system, which offer significant opportunities for the electrohydraulic steering system market across the globe.
  • Increase in disposable income coupled with rise in urban population is prompting consumers to choose luxury vehicles owing to the comfort and safe driving they provide. This is estimated to offer considerable opportunities to key players to develop such technologies and subsequently, boost the electrohydraulic steering system market across the globe.

Electrohydraulic Steering System to Hamper Market:

  • Manufacturing of electrohydraulic steering system requires high initial investment and subsequent research and development activities are expensive, which restrains the entry of new players in the market. This is likely to hamper the electrohydraulic steering market across the globe.
  • High initial cost of development and manufacturing of electrohydraulic devices, such as pump, motor, ECU, and sensors, restrains the electrohydraulic steering system market across the globe

Asia Pacific to Hold Significant Share of Global Electrohydraulic Steering System Market

  • India is prominent market for vehicles, such as heavy trucks, construction machinery, and agriculture machinery. Electrohydraulic steering systems are employed in majority of these vehicles in the country.
  • Several OEMs in India, including Tata Motors are primarily focused on the development of new systems that provide comfort and enhance safe driving. These factors are likely to boost the share held by India in the global electrohydraulic steering system market.

Key Players Operating in Global Electrohydraulic Steering System Market:

The global electrohydraulic steering system market is highly fragmented with top manufacturers across the globe. A few potential players operating in the global electrohydraulic steering system market are:

  • Robert Bosch GmbH
  • JTEKT Corporation
  • Hitachi Automotive Systems Americas, Inc.
  • ZF Friedrichshafen AG
  • Danotek Motion Technologies
  • Eaton
  • Tecnosir s.r.l.Lear Corporation
  • Allied Motion Inc.
  • GENERAL RICAMBI
  • The Engineering Center Steyr GmbH & Co KG
  • Nexteer Automotive
  • Delphi Automotive Systems
  • Mando Corporation
  • Continental AG
  • Hyundai Mobis
  • GKN
  • ThyssenKrupp Presta

Global Electrohydraulic Steering System Market: Research Scope

Global Electrohydraulic Steering System Market, by Vehicle Type

  • Passenger Vehicle
    • Hatchback
    • Sedan
    • Utility Vehicles
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

Global Electrohydraulic Steering System Market, by Sales Channel

  • OEMs
  • Aftermarket

Global Electrohydraulic Steering System Market, by Component

  • Steering Motor
  • Sensor
  • Others

Global Electrohydraulic Steering System Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • 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
Electrohydraulic Steering System Market

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