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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.
  • 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

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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Electrohydraulic Steering System Market