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Electronic Power Steering System Market By Type (C-EPS, P-EPS, R-EPS), Component (Electric Motor, Speed Sensor, Torque Sensor, Rotational Angle Sensor, EPS Control Unit & Others), Vehicle Type and Region – Global Trends and Forecast To 2021

  • Report Code: EL 1001
  • Publish Date: Jul 2016
  • Number of Pages: 91
  
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The electric power steering (EPS) system market is projected to grow from 16.82 billion to 23.92 billion at a CAGR of 7.29% from 2016 to 2021, The Asia-Pacific region is estimated to lead in the market in terms of growth from 2016 till 2021. Increasing demand for comfort and fuel efficiency are key drivers for growth of electronic power steering (EPS) system market. In this study, 2015 has been considered as the base year, and 2016 to 2021, the forecast period for estimating the market size of EPS system. The study segments the EPS system on the basis of region, vehicle type, components type, and system type from 2016 to 2021. The EPS system market has been classified by system type. Column-EPS (C-EPS), Rack-EPS (R-EPS) and Pinion-EPS (P-EPS) are types of EPS system based on the position of the assist motor. The C-EPS segment is estimated to lead the EPS market but the market for P-EPS is estimated to grow at a higher CAGR, considering increasing production of mid-sized cars.

 
Objectives of the study


•    To define, describe, and project the electronic power steering (EPS) system market on the basis of EPS type, component, vehicle type, and region
•    To analyze the system and component-level markets for growth trends, future prospects, and their contribution to the overall component manufacturing industry
•    To provide the market size and forecast the EPS system market for four key regions—namely, Asia-Oceania, Europe, North America, and RoW (Rest of the World)
•    To strategically profile key EPS system manufacturers and comprehensively analyze their market shares
•    To analyze stakeholders in the market and provide a detailed competitive landscape
•    To analyze competitive developments such as joint ventures, mergers & acquisitions, new product launches, expansions, and other industry activities carried out by key industry participants

 

The research methodology used in the report involves various secondary sources, including paid databases and directories. A top-down approach has been followed to derive the market size, in terms of volume and value. The market size has been validated by in-depth interviews with industry experts, excerpts and secondary research.


The ecosystem of the EPS industry consists of EPS component manufacturing companies such as Mitsuba Corporation (Japan), Mitsubishi Corporation (Japan), Nidec Corporation (Japan), Hitachi Automotive Systems (Japan), JTEKT Corporation (Japan) and Infineon Technologies AG (Germany). All the major vehicle manufactures are also part of EPS ecosystem.


TARGET AUDIENCE

 

  • Steering system manufacturers
  • Electric  motor manufacturers
  • Speed sensor manufacturers
  • Torque Sensor manufacturers
  • Rotational angle sensor manufacturers
  • EPS control unit manufacturers
  • Investment firms.
  • Equity research firms.
  • Private equity firms.


SCOPE OF THE REPORT

 

  • By Vehicle Type
  • Passenger Car
  • LCV
  • HCV
  • By  Type
  • Food, Manufacturing C-EPS
  • P-EPS
  • R-EPS
  • By  components
  • Speed sensor
  • Torque Sensor
  • Rotational Angle Sensor
  • EPS Control Unit
  • Electric  motor
  • Other Components


AVAILABLE CUSTOMIZATIONS


MarketsandMarkets offers the following customizations for this market:
1.    C-EPS, R-EPS and P-EPS market, by type
2.    Detailed analysis and profiling of additional market players (up to 3)

 



1 Introduction
    1.1 Objectives Of The Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered For The Study
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders


2 Research Design
    2.1 Research Data
    2.2 Secondary Data
           2.2.1 Key Secondary Sources
           2.2.2 Key Data From Secondary Sources
    2.3 Primary Data
           2.3.1 Sampling Techniques & Data Collection Methods
           2.3.2 Primary Participants
    2.4 Factor Analysis
           2.4.1 Introduction
           2.4.2 Demand-Side Indicators
                    2.4.2.1 Increasing Demand For Fuel-Efficient Vehicles And Growing Focus On Comfort & Safety
           2.4.3 Supply-Side Indicators
                    2.4.3.1 Growing Trend Of Backward Integration
    2.5 Market Estimation
           2.5.1 Bottom-Up Approach
           2.5.2 Eps Market Size Data Triangulation
           2.5.3 Assumptions


3 Executive Summary


4 Market Overview
    4.1 Introduction
    4.2 Market Segmentation
           4.2.1 Electronic Power Steering System Market Segmentation

    4.3 Market Dynamics
           4.3.1 Drivers
                    4.3.1.1 Increased Demand For Fuel-Efficient Vehicles
                    4.3.1.2 Stringent Emissions Norms
                    4.3.1.3 Ease Of Maneuverability
           4.3.2 Restraints
                    4.3.2.1 Limited Load-Bearing Capacity Of Electronic Power Steering Systems
                    4.3.2.2 High Cost Of The Electronic Power Steering System
           4.3.3 Opportunities
                    4.3.3.1 Use Of Electronic Power Steering Systems In Commercial Vehicles
           4.3.4 Challenges
                    4.3.4.1 Complexities In Maintenance
                    4.3.4.2 Counterfeiting
    4.4 Porter’s Five Forces Analysis: Electronic Power Steering System
           4.4.1 Threat Of New Entrants
           4.4.2 Threat Of Substitutes
           4.4.3 Bargaining Power Of Buyers
           4.4.4 Bargaining Power Of Suppliers
           4.4.5 Intensity Of Competitive Rivalry


5 Electronic Power Steering System Market, By Region And Vehicle Type
    5.1 Introduction
    5.2 Asia-Pacific, By Vehicle Type
    5.3 Europe, By Vehicle Type
    5.4 North America, By Vehicle Type
    5.5 Row, By Vehicle Type


6 Electronic Power Steering System Market, By Region
    6.1 Introduction
    6.2 Automotive Electronic Power Steering System Market, By Region, 2014-2021
           6.2.1 Asia-Pacific, By Country
           6.2.2 Europe, By Country
           6.2.3 North America, By Country
           6.2.4 Row, By Country


7 Electronic Power Steering System Market, By Type
    7.1 Introduction
    7.2 Electronic Power Steering System Market, By Type
           7.2.1 Asia-Pacific, By Eps Type
           7.2.2 Europe, By Eps Type
           7.2.3 North America, By Eps Type
           7.2.4 Row, By Eps Type


8 Electronic Power Steering System Market, By Component
    8.1 Introduction
    8.2 Electronic Power Steering System Market, By Component
           8.2.1 Electric Motor Market, By Region
           8.2.2 Speed Sensor Market, By Region
           8.2.3 Torque Sensor Market, By Region
           8.2.4 Rotational Angle Sensor Market, By Region
           8.2.5 Electronic Control Unit Market, By Region
           8.2.6 Other Components Market, By Region


9 Competitive Landscape
    9.1 Competitive Situation & Trends
    9.2 New Product Development
    9.3 Expansions
    9.4 Mergers & Acquisitions
    9.5 Agreements/Joint Ventures/Supply Contracts/Partnerships


10 Company Profiles

     10.1 Mitsuba Corporation
     10.2 Nidec Corporation
     10.3 Mitsubishi Electric Corporation
     10.4 Hitachi Automotive Systems Ltd.
     10.5 Infineon Technologies Ag
     10.6 Jtekt Corporation


11 Appendix
     11.1 Discussion Guide
     11.2 Available Customization
             11.2.1 C-Eps Market, By Vehicle Type
                        11.2.1.1 Passenger Cars
                        11.2.1.2 Commercial Vehicles
             11.2.2 Speed Sensor Market, By Vehicle Type
                        11.2.2.1 Passenger Cars
                        11.2.2.2 Commercial Vehicles
             11.2.3 Additional Company Profiles
                        11.2.3.1 Business Overview
                        11.2.3.2 Recent Financials
                        11.2.3.3 Swot Analysis
                        11.2.3.4 Recent Developments


List Of Tables

 

Table 1 Cafe Standards (Miles Per Gallon), 2012–2025
Table 2 Global Vehicle Emission Norms (2005 To 2014)
Table 3 Steering Rack Force Limit By Passenger Car Segment
Table 4 Electronic Power Steering System Market Size, By Region, 2014–2021 (‘000 Units)
Table 5 Electronic Power Steering System Market Size, By Region, 2014–2021 (USD Million)
Table 6 Asia-Pacific: Electronic Power Steering System Market Size, By Vehicle Type, 2014–2021 (‘000 Units)
Table 7 Asia-Pacific: Electronic Power Steering System Market Size, By Vehicle Type, 2014–2021 (USD Million)
Table 8 Europe: Electronic Power Steering System Market Size, By Vehicle Type, 2014–2021 (‘000 Units)
Table 9 Europe: Electronic Power Steering System Market Size, By Vehicle Type, 2014–2021 (USD Million)
Table 10 North America: Electronic Power Steering System Market Size, By Vehicle Type, 2014–2021 (‘000 Units)
Table 11 North America: Electronic Power Steering System Market Size, By Vehicle Type, 2014–2021 (USD Million)
Table 12 Row: Electronic Power Steering System Market Size, By Vehicle Type, 2014–2021 (‘000 Units)
Table 13 Row: Electronic Power Steering System Market Size, By Vehicle Type, 2014–2021 (USD Million)
Table 14 Electronic Power Steering System Market Size, By Region, 2014–2021 ('000 Units)
Table 15 Electronic Power Steering System Market Size, By Region (USD Million)
Table 16 Asia-Pacific: Electronic Power Steering System Market Size, By Country, 2014–2021 ('000 Units)
Table 17 Asia-Pacific: Electronic Power Steering System Market Size, By Country (USD Million)
Table 18 Europe: Electronic Power Steering System Market Size, By Country, 2014–2021 ('000 Units)
Table 19 Europe: Electronic Power Steering System Market Size, By Country (USD Million)
Table 20 North America: Electronic Power Steering System Market Size, By Country, 2014–2021 ('000 Units)
Table 21 North America: Electronic Power Steering System Market Size, By Country (USD Million)
Table 22 Row: Electronic Power Steering System Market Size, By Country, 2014–2021 ('000 Units)
Table 23 Row: Electronic Power Steering System Market Size, By Country (USD Million)
Table 24 Electronic Power Steering System Market Size, By Type, 2014–2021 ('000 Units)
Table 25 Electronic Power Steering System Market Size, By Type, 2014–2021 (USD Million)
Table 26 Asia-Pacific: Electronic Power Steering System Market Size, By Type, 2014–2021 ('000 Units)
Table 27 Asia-Pacific: Electronic Power Steering System Market Size, By Type, 2014–2021 (USD Million)
Table 28 Europe: Electronic Power Steering System Market Size, By Type, 2014–2021 ('000 Units)
Table 29 Europe: Electronic Power Steering System Market Size, By Type, 2014–2021 (USD Million)
Table 30 North America: Electronic Power Steering System Market Size, By Type, 2014–2021 ('000 Units)
Table 31 North America: Electronic Power Steering System Market Size, By Type, 2014–2021 (USD Million)
Table 32 Row: Electronic Power Steering System Market Size, By Type, 2014–2021 ('000 Units)
Table 33 Row: Electronic Power Steering System Market Size, By Type, 2014–2021 (USD Million)
Table 34 Electronic Power Steering System Market Size, By Component, 2014–2021 (USD Million)
Table 35 Electric Motor Market Size, By Region, 2014–2021 (USD Million)
Table 36 Speed Sensor Market Size, By Region, 2014–2021 (USD Million)
Table 37 Torque Sensor Market Size, By Region, 2014–2021 (USD Million)
Table 38 Rotational Angle Sensor Market Size, By Region, 2014–2021 (USD Million)
Table 39 Electronic Control Unit Market Size, By Region, 2014–2021 (USD Million)
Table 40 Other Components Market Size, By Region, 2014–2021 (USD Million)
Table 41 New Product Developments, 2014–2016
Table 42 Expansions, 2013–2015
Table 43 Mergers & Acquisitions, 2015
Table 44 Agreements/Joint Ventures/Supply Contracts/Partnerships, 2012–2013
Table 45 Mitsuba Corporation: Key Financials, 2012–2015 (USD Million)
Table 46 Mitsuba Corporation: Revenue, By Regional Segment, 2012–2015 (USD Million)
Table 47 Mitsuba Corporation: Revenue, By Business Segment, 2012–2015 (USD Million)
Table 48 Nidec Corporation: Key Financials, 2012–2014 (USD Million)
Table 49 Nidec Corporation: Revenue, By Regional Segment, 2012–2014 (USD Million)
Table 50 Nidec Corporation: Revenue, By Business Segment, 2012–2015 (USD Million)
Table 51 Mitsubishi Electric Corporation: Key Financials, 2012–2015 (USD Million)
Table 52 Mitsubishi Electric Corporation: Revenue, By Regional Segment, 2012–2014 (USD Million)
Table 53 Mitsubishi Corporation: Revenue, By Business Segment, 2012–2014 (USD Million)
Table 54 Hitachi Automotive Systems Ltd. : Key Financials, 2012–2015 (USD Million)
Table 55 Infineon Technologies Ag: Key Financials, 2012–2015 (USD Million)
Table 56 Infineon Technologies Ag: Revenue, By Regional Segment, 2013–2015 (USD Million)
Table 57 Infineon Technologies Ag: Revenue, By Business Segment, 2013–2015 (USD Million)
Table 58 Jtekt Corporation: Key Financials, 2012–2014 (USD Million)
Table 59 Jtekt Corporation: Revenue, By Regional Segment, 2012–2014 (USD Million)
Table 60 Jtekt Corporation: Revenue, By Business Segment, 2013–2014 (USD Million)


List Of Figures

 

Figure 1 Electronic Power Steering System Market Segmentation
Figure 2 Research Design
Figure 3 Research Design Model
Figure 4 Breakdown Of Primary Interviews: By Company Type, Designation, & Region
Figure 5 Eps System Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Eps Market Size Data Triangulation
Figure 7 Electronic Power Steering System Market Share, By Type (Value), 2016
Figure 8 Electronic Power Steering System Market Share And Growth Trend (Value), By Region, 2016
Figure 9 Electronic Power Steering Systems Market: Market Dynamics
Figure 10 Emission Norms Comparative Analysis: U.S. Tier Ii Vs. Euro 5 Vs. Euro 6 (Nox Vs Pm)
Figure 11 Porter’s Five Forces Analysis: Electronic Power Steering System
Figure 12 Passenger Car Segment To Continue To Lead The Asia-Pacific Eps System Market
Figure 13 C-Eps Segment To Dominate The Eps System Market, By Value, From 2016 To 2021
Figure 14 P-Eps To Continue To Lead The North American Eps System Market, (Value), From 2016 To 2021
Figure 15 Electric Motor Segment To Lead The Eps System Market, By Component, (Value) From 2016 To 2021
Figure 16 Asia-Pacific To Dominate The Eps Control Unit Market, (Value), By 2021
Figure 17 Eps System Market: Company Product Coverage, By Component
Figure 18 Expansions Propelled The Growth Of The Electronic Power Steering System Market From 2014 To 2016
Figure 19 Battle For Market Share: Expansion Was The Key Strategy
Figure 20 Region-Wise Revenue Mix Of 5 Major Players
Figure 21 Mitsuba Corporation:Company Snapshot
Figure 22 Nidec Corporation: Company Snapshot
Figure 23 Mitsubishi Electric Corporation: Company Snapshot
Figure 24 Hitachi Automotive Systems Ltd.: Company Snapshot
Figure 25 Infineon Technologies Ag : Company Snapshot
Figure 26 Jtekt Corporation: Company Snapshot

The electric power steering (EPS) system market is projected to grow at a CAGR of 7.29% from 2016 to 2021, The Asia-Pacific region is estimated to lead in the market in terms of growth from 2016 till 2021. The Asia-Oceania region will see significant demand for automotive electronic power steering systems in the coming years, due to increasing vehicle production and economic growth as well as increased per capita income leading to enhanced purchasing power of consumers.


Increased demand for fuel efficient products and stringent emissions norms are drivers of EPS system market. EPS system completely eliminates the need for hydraulic pumps and belt-drive units. Additionally, the EPS system was found to positively influence the fuel efficiency, as the power source for the EPS system was the battery, unlike in HPS systems, which drew power from the engine. Additionally, EPS system offers the driver a greater level of comfort and enables more precise driving than conventional systems. These benefits of EPS systems has propelled the rate of adoption of this technology, especially in passenger car segment.


The EPS system market has been classified by system type. Column-EPS (C-EPS), Rack-EPS (R-EPS) and Pinion-EPS (P-EPS) are types of EPS system based on the position of the assist motor. The C-EPS segment is estimated to lead the EPS market but the market for P-EPS is estimated to grow at a higher CAGR, considering increasing production of mid-sized cars.


EPS systems are popular in the passenger car segment but it has a low load bearing capacity. Hence EPS system cannot be used in light and heavy commercial vehicles. As a result, EPS systems are only used for passenger cars. Higher cost of EPS system attributed to lack of economies of scale and requirement of expensive sensors. EPS system require electronic control unit (ECU) with high processing capabilities which adds up the cost. These are the restrains for EPS system market.


The EPS market has several global and local market players such as Hitachi Automotive Systems (Japan), Mitsuba Corporation (Japan), and Infineon Technologies (Germany) which makes it highly competitive. The requirements of the OEMs change according to the changing demands of their customers. Hence the companies are focused on introducing better products to the market to retain their market share.


The key strategy adopted by the major players in the market is expansion. Companies adopted this strategy to expand business primarily in emerging markets. For example, Mitsuba Corporation has established a new manufacturing subsidiary in Nuevo Leon, Mexico in February 2015. Companies are focused on new product launch in existing as well as emerging markets. This strategy is useful in increasing the market share in competitive EPS system market. Few companies have adopted merger and acquisition strategy for increasing global reach.

Figure 1: ELECTRONIC POWER STEERING market share, by region (value), 2016

 

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PRODUCT TITLE PUBLISHED
Asia and Oceania Steering System Asia and Oceania Steering System
In terms of market volume, the Asia-Oceania region is the leader in automobile steering systems across the globe. The growth in the emerging countries like China, India, Japan and South Korea, is on a rise and in turn growing the market for steering systems. This is mainly due to the increasing industrialization, rapid growth in infrastructure development and urbanization in the aforementioned countries. The Asia-Oceania Steering systems market was valued at $11.49 billion in 2013, and expected to grow at 7.8% annually. It is projected to reach $16.71 billion by the end of 2018.
Upcoming
North America Steering System North America Steering System
The need for technologies that increase the fuel efficiency and are also sophisticated and safe are in demand by the consumers in wake of the depleting oil reserves which are in turn increasing the oil prices has created a demand for the Electronic Power Steering (EPS). EPS is expected to dominate the North American market and will replace traditional manual, hydraulic, and electro-hydraulic steering systems in   due course of time.  The North American Steering systems market was valued at $5.11 billion in 2013, to grow at 7.7% annually. It is projected to reach $7.40 billion by the end of 2018.
Upcoming
Europe Steering System Europe Steering System
Europe is the second largest market for steering systems across all the major regions. The major driver for the European steering systems market is the stringent emission as well as fuel efficiency norms. The slow economic growth affects the vehicle production in the region to a great extent as the market for steering systems is co-related with the vehicle production and is one of the major restraints for the steering systems market in this region. The European steering systems market was valued at $5.24 billion in 2013, to grow at 4.3% annually. It is projected to reach $6.48 billion by the end of 2018.
Upcoming
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