Global Electric Power Steering (EPS) Market Analysis and Forecast (2014 – 2020)
Electric power steering (EPS) uses an electric motor to assist during the driving of a vehicle. Sensors detect the position and torque of the steering column, and a computer module applies assistive torque via the motor, which connects to either the steering gear or steering column. Passenger, commercial, light commercial vehicle, sports cars are the different end-user segments of EPS. Manual, hydraulic and electric powered steering systems are the key electric power steering types present in the market currently. Electric steering systems are mechanically less complex with fewer moving parts and no fluids. It is, hence, more reliable as well as simpler for the OEMs and customers too. Fuel economy is the biggest benefit to the end customers due to EPS and is the major driver for this market growth. It is estimated that significant fuel savings of around 0.3-0.4 liters/100km along with reduction in CO2 emissions of 5-7g/km can be attained due to EPS. With electric cars growing in shipments and offering competition to fuel-based cars, EPS systems are the key factors, especially for traditional automotive OEMs to prolong their business.
Electric power steering (EPS) uses an electric motor to assist during the driving of a vehicle. Sensors detect the position and torque of the steering column, and a computer module applies assistive torque via the motor, which connects to either the steering gear or steering column. Passenger, commercial, light commercial vehicle, sports cars are the different end-user segments of EPS. Manual, hydraulic and electric powered steering systems are the key electric power steering types present in the market currently. Electric steering systems are mechanically less complex with fewer moving parts and no fluids. It is, hence, more reliable as well as simpler for the OEMs and customers too. Fuel economy is the biggest benefit to the end customers due to EPS and is the major driver for this market growth. It is estimated that significant fuel savings of around 0.3-0.4 liters/100km along with reduction in CO2 emissions of 5-7g/km can be attained due to EPS. With electric cars growing in shipments and offering competition to fuel-based cars, EPS systems are the key factors, especially for traditional automotive OEMs to prolong their business.
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REPORT SCOPE<br />
To provide a complete analysis of the global <strong>Electric</strong> <strong>Power</strong> <strong>Steering</strong> (<strong>EPS</strong>) market, it has been<br />
divided into sub-categories depending on the various end-user applications of these systems, the<br />
different types of <strong>EPS</strong> currently available, the passenger-vehicle <strong>and</strong> the commercial-vehicle<br />
segments of the market. This report attempts to analyze the current market trends in place as<br />
well as the future scope for development in this growing market <strong>and</strong> the challenges that need to<br />
be addressed.<br />
The global market for <strong>EPS</strong> is on the rise, so we have made an analysis on the current market<br />
players <strong>and</strong> their presence in the market. The dem<strong>and</strong> for <strong>EPS</strong> has shown a steady increase, all<br />
over the world, especially with an increased emphasis on safety <strong>and</strong> comfort nowadays.<br />
Traditionally, these systems were associated with the high-end automotive segment, but market<br />
trends off late have shown a marked rise in the use of these systems in the middle <strong>and</strong> lower<br />
level automotive segments as well.<br />
A geographical analysis has been done to put things into perspective about the global market.<br />
Competitive l<strong>and</strong>scape for each of the product types is highlighted <strong>and</strong> market players are<br />
profiled with attributes of company overview, financial overview, business strategies, product<br />
portfolio <strong>and</strong> recent developments. <strong>Market</strong> shares of the key players for <strong>2014</strong> are provided. The<br />
prominent players profiled in this report are TRW, Nexteer Automotive, Trelleborg, Mitsubishi<br />
<strong>and</strong> others.<br />
The report contains the most detailed <strong>and</strong> in-depth segmentation of the electric power steering<br />
market.<br />
STAKEHOLDERS<br />
Following are the key stakeholders in the global <strong>EPS</strong> market.<br />
Automotive OEMs<br />
<strong>EPS</strong> Manufacturers<br />
Sensor Manufacturers<br />
Contract manufacturer<br />
Electronics Providers<br />
Distributors
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