Electric Power Steering Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027, Segmented By Type (C-EPS, P-EPS and R-EPS), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Medium & Heavy Commercial Vehicles, Off-the-Road Vehicles), By Mechanism (Collapsible, Rigid), By Region

  • Industry : Automotive
  • Pages : 189
  • Published Date : February, 2022
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Report Description

Report Description

Global electric power steering market is anticipated to grow at a CAGR of 4.40% during the forecast period to reach USD56.43 billion by 2027. Anticipated growth in the market can be attributed to increasing initiatives towards electrification of vehicles coupled with rising growth in vehicle production. Rapidly increasing development of road infrastructure, growing discretionary income are also driving the growth of the global electric power steering market in the upcoming five years.

The electric power steering system consists of an electronic control unit (ECU), electric motors, steering rack, steering wheel, torque sensors, etc. When the driver turns the steering wheel, an input is generated, which is read by the sensors on the steering column and is relayed to the electronic control unit (ECU) of the system. Electric power steering uses an electric motor that draws energy from the automobile’s electrical system to supply the steering assistance. The electric motor of the electric power steering is located directly on the steering rack. Traditionally hydraulic power steering was installed in an automobile, the trend of which has changed owing to the operational benefits of electric power steering. As a result, electric power steering has been in high demand among automotive manufacturers. To satisfy the expanding need of installing electric power steering in automobiles, original equipment manufacturers of electric power steering across the world have ramped up the pace of manufacturing electric power steering. Significant number of electric power steering manufacturers are investing heavily in the research and development sector to develop energy-efficient state-of-the-art electric power steering, driving the global electric power steering market in the forthcoming years. Moreover, factors such as travel convenience, design, comfort, efficiency, etc., have increased the demand for electric two-wheelers, which has further intensified the demand for electric power steering across the globe.

The spread of the COVID-19 pandemic generated both public health and economic crisis across the world. Many industries have faced a consequential decrease in the production of electric power steering due to full or partial lockdown restrictions across various countries to reduce the spread of the COVID-19 virus. Due to COVID-19, there has been interference in large-scale product manufacturing and shutdown of assembly plants amid lockdowns. Due to the declaration of lockdown to curtail the spread of the pandemic, almost all the automotive factories, showrooms and workshops were closed, witnessing a massive decline in production and sales of automobiles, consequently affecting the sales of electric power steering globally. Nevertheless, due to market opening and the growing focus on research and development, the market is showing positive signs of recovery and is anticipated to recover in around two years.

Better Fuel Efficiency Drives the Market Growth

Automakers all over the history of manufacturing automobiles have been continually putting efforts to bring down the overall weight of an automobile without compromising the performance of an automobile, since the reduced weight of an automobile induces performance benefits such as better fuel efficiency, etc. According to the US Department of Energy, if a person drives a flex fuel vehicle (FFV) for 54.717 Km per day for 5 days per week and does this for 49 weeks per year, where 25% of this driving is done under highway conditions and the rest is city driving, the lifetime running cost of fuel will come up around USD28,500. The lifespan running cost of most automobiles is more than the automobile cost itself, burning a hole in the pocket of customers. Traditionally, Hydraulic Power Steering has been installed as a power steering unit in the vehicles, but the Hydraulic Power Steering unit comes with a major disadvantage such as heavy weight, making the unit fuel inefficient. A better substitute to the traditional hydraulic power steering assembly is the Electric Power Steering unit that provides steering assistance using an electric motor. Electric power steering unit is extremely light in nature, reducing the overall weight of the vehicle and resulting in improved fuel efficiency of the automobile up to 30% when compared to its counterpart.

Reduced Complexity and Less Maintenance Drives the Market Growth

As electric power steering has fewer moving components as compared to hydraulic power steering, thus the installation of electric power steering units in vehicles reduces the overall complexity of the power steering, which in turn results in less maintenance of the electric power steering. Reduced complexity and less maintenance of electric power steering positively influence electric power steering sales worldwide.


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Market Segmentation

Global electric power steering market is segmented based on by type into C-EPS, P-EPS, and R-EPS, by vehicle type into passenger cars, light commercial vehicles, medium & heavy commercial vehicles, off-the-road vehicles, by mechanism into collapsible, rigid by company and by region into the Asia Pacific, North America, Europe, South America, Middle East and Africa. The global electric power steering market based on type of steering, is majorly dominated by P-EPS and R-EPS, both the type of splitting market sharing almost equivalently in 2021. The C-EPS units are majorly installed in medium to heavy-duty commercial vehicles. Growing road infrastructure, connecting remote regions is increasing the sales of commercial vehicles, which is consequently resulting in growth in the sales of Column type Electric Power Steering (C-EPS) sales across the globe. In terms of country, the United States electric power steering market is forecast to grow at a CAGR of 6.02% and is expected to reach around USD6.33 billion during the forecast period 2027.

Company Profiles

JTEKT Corporation, NSK Ltd, Nexteer Automotive Group Limited, Robert Bosch GMBH, ZF Friedrichshafen AG, Mando Corporation, Hitachi Astemo, Ltd., Hyundai Mobis Co., Ltd., BorgWarner Inc., Denso Corporation, etc. are among the major market players in the global platform that lead the market growth of the global electric power steering market.

Attribute

Details

Market Size Value in 2021

USD43.11 Billion

Revenue Forecast in 2027

USD56.43 Billion

US Revenue Forecast in 2027

USD6.33 Billion

Growth Rate

4.40%

Base Year

2021

Historical Years

2017 – 2021

Estimated Year

2022

Forecast Period

2023 – 2027

Quantitative Units

Revenue in USD Billion and CAGR for 2017-2021 and 2022-2027

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Type

·         Vehicle Type

·         Mechanism

·         Region

·         Company

Regional Scope

Asia-Pacific, Europe, North America, South America, Middle East and Africa

Country Scope

China, Japan, India, Indonesia, Australia, Germany, Spain, United Kingdom, Italy, United States, Mexico, Canada, Brazil, Argentina, Colombia, Chile, Iran, South Africa, Saudi Arabia, UAE

Key Companies Profiled

JTEKT Corporation, NSK Ltd, Nexteer Automotive Group Limited, Robert Bosch GMBH, ZF Friedrichshafen AG, Mando Corporation, Hitachi Astemo, Ltd., Hyundai Mobis Co., Ltd., BorgWarner Inc., Denso Corporation

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Report Scope:

In this report, global electric power steering market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Global Electric Power Steering Market, Type:
    • P-EPS
    • R-EPS
    • C-EPS
  • Global Electric Power Steering Market, Vehicle Type:
    • Passenger Car (PC)
    • Light Commercial Vehicle (LCV)
    • Medium & Heavy Commercial Vehicle (M&HCV)
    • Off the Road (OTR)
  • Global Electric Power Steering Market, By Mechanism:
    • Collapsible
    • Rigid
  • Global Electric Power Steering Market, By Region:
    • Asia-Pacific
      • China
      • Japan
      • India
      • Indonesia
      • Australia
    • Europe
      • Germany
      • Spain
      • United Kingdom
      • Italy
    • North America
      • United States
      • Mexico
      • Canada
    • South America
      • Brazil
      • Argentina
      • Colombia
      • Chile
    • Middle East and Africa

§  Iran

§  South Africa

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global electric power steering market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Table of content

Table of content

1.    Product Overview

2.    Research Methodology

3.    Executive Summary

4.    Impact of COVID-19 on Global Electric Power Steering Market

5.    Voice of Customer

5.1.  Factors Influencing Purchase Decision

5.2.  Brand Recall

5.3.  Brand Switching

5.4.  Brand Switching Attributes

5.5.  Brand Satisfaction Level

6.    Global Electric Power Steering Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Volume

6.1.2.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Type (C-EPS, P-EPS and R-EPS)

6.2.2.    By Vehicle Type (Passenger Car (PC), Medium & Heavy Commercial Vehicle (M&HCV), Light Commercial Vehicle (LCV) and Off-the-Road Vehicle (OTR))

6.2.3.    By Mechanism (Collapsible and Rigid)

6.2.4.    By Region

6.2.5.    By Company (2021)

6.3.  Market Map (By Vehicle Type, By Region)

7.    Asia-Pacific Electric Power Steering Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Volume

7.1.2.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Type

7.2.2.    By Vehicle Type

7.2.3.    By Mechanism

7.2.4.    By Country

7.3.  Market Map (By Vehicle Type, By Country)

7.4.   Asia-Pacific: Country Analysis

7.4.1.    China Electric Power Steering Market Outlook

7.4.1.1.        Market Size & Forecast

7.4.1.1.1.            By Volume

7.4.1.1.2.            By Value

7.4.1.2.        Market Share & Forecast

7.4.1.2.1.            By Type

7.4.1.2.2.            By Vehicle Type

7.4.1.2.3.            By Mechanism

7.4.2.    Japan Electric Power Steering Market Outlook

7.4.2.1.        Market Size & Forecast

7.4.2.1.1.            By Volume

7.4.2.1.2.            By Value

7.4.2.2.        Market Share & Forecast

7.4.2.2.1.            By Type

7.4.2.2.2.            By Vehicle Type

7.4.2.2.3.            By Mechanism

7.4.3.    India Electric Power Steering Market Outlook

7.4.3.1.        Market Size & Forecast

7.4.3.1.1.            By Volume

7.4.3.1.2.            By Value

7.4.3.2.        Market Share & Forecast

7.4.3.2.1.            By Type

7.4.3.2.2.            By Vehicle Type

7.4.3.2.3.            By Mechanism

7.4.4.    Indonesia Electric Power Steering Market Outlook

7.4.4.1.        Market Size & Forecast

7.4.4.1.1.            By Volume

7.4.4.1.2.            By Value

7.4.4.2.        Market Share & Forecast

7.4.4.2.1.            By Type

7.4.4.2.2.            By Vehicle Type

7.4.4.2.3.            By Mechanism

7.4.5.    Australia Electric Power Steering Market Outlook

7.4.5.1.        Market Size & Forecast

7.4.5.1.1.            By Volume

7.4.5.1.2.            By Value

7.4.5.2.        Market Share & Forecast

7.4.5.2.1.            By Type

7.4.5.2.2.            By Vehicle Type

7.4.5.2.3.            By Mechanism

8.    Europe Electric Power Steering Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Volume

8.1.2.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Type

8.2.2.    By Vehicle Type

8.2.3.    By Mechanism

8.2.4.    By Country

8.3.  Market Map (By Vehicle Type, By Country)

8.4.  Europe: Country Analysis

8.4.1.    Germany Electric Power Steering Market Outlook

8.4.1.1.        Market Size & Forecast

8.4.1.1.1.            By Volume

8.4.1.1.2.            By Value

8.4.1.2.        Market Share & Forecast

8.4.1.2.1.            By Type

8.4.1.2.2.            By Vehicle Type

8.4.1.2.3.            By Mechanism

8.4.2.    Spain Electric Power Steering Market Outlook

8.4.2.1.        Market Size & Forecast

8.4.2.1.1.            By Volume

8.4.2.1.2.            By Value

8.4.2.2.        Market Share & Forecast

8.4.2.2.1.            By Type

8.4.2.2.2.            By Vehicle Type

8.4.2.2.3.            By Mechanism

8.4.3.    United Kingdom Electric Power Steering Market Outlook

8.4.3.1.        Market Size & Forecast

8.4.3.1.1.            By Volume

8.4.3.1.2.            By Value

8.4.3.2.        Market Share & Forecast

8.4.3.2.1.            By Type

8.4.3.2.2.            By Vehicle Type

8.4.3.2.3.            By Mechanism

8.4.4.    Italy Electric Power Steering Market Outlook

8.4.4.1.        Market Size & Forecast

8.4.4.1.1.            By Volume

8.4.4.1.2.            By Value

8.4.4.2.        Market Share & Forecast

8.4.4.2.1.            By Type

8.4.4.2.2.            By Vehicle Type

8.4.4.2.3.            By Mechanism

9.    North America Electric Power Steering Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Volume

9.1.2.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Type

9.2.2.    By Vehicle Type

9.2.3.    By Mechanism

9.2.4.    By Country

9.3.  Market Map (By Vehicle Type, By Country)

9.4.  North America: Country Analysis

9.4.1.    United States Electric Power Steering Market Outlook

9.4.1.1.        Market Size & Forecast

9.4.1.1.1.            By Volume

9.4.1.1.2.            By Value

9.4.1.2.        Market Share & Forecast

9.4.1.2.1.            By Type

9.4.1.2.2.            By Vehicle Type

9.4.1.2.3.            By Mechanism

9.4.2.    Mexico Electric Power Steering Market Outlook

9.4.2.1.        Market Size & Forecast

9.4.2.1.1.            By Volume

9.4.2.1.2.            By Value

9.4.2.2.        Market Share & Forecast

9.4.2.2.1.            By Type

9.4.2.2.2.            By Vehicle Type

9.4.2.2.3.            By Mechanism

9.4.3.    Canada Kingdom Electric Power Steering Market Outlook

9.4.3.1.        Market Size & Forecast

9.4.3.1.1.            By Volume

9.4.3.1.2.            By Value

9.4.3.2.        Market Share & Forecast

9.4.3.2.1.            By Type

9.4.3.2.2.            By Vehicle Type

9.4.3.2.3.            By Mechanism

10.  South America Electric Power Steering Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Volume

10.1.2. By Value

10.2.             Market Share & Forecast

10.2.1. By Type

10.2.2. By Vehicle Type

10.2.3. By Mechanism

10.2.4. By Country

10.3.             Market Map (By Vehicle Type, By Country)

10.4.             South America: Country Analysis

10.4.1. Brazil Electric Power Steering Market Outlook

10.4.1.1.     Market Size & Forecast

10.4.1.1.1.         By Volume

10.4.1.1.2.         By Value

10.4.1.2.     Market Share & Forecast

10.4.1.2.1.         By Type

10.4.1.2.2.         By Vehicle Type

10.4.1.2.3.         By Mechanism

10.4.2. Argentina Electric Power Steering Market Outlook

10.4.2.1.     Market Size & Forecast

10.4.2.1.1.         By Volume

10.4.2.1.2.         By Value

10.4.2.2.     Market Share & Forecast

10.4.2.2.1.         By Type

10.4.2.2.2.         By Vehicle Type

10.4.2.2.3.         By Mechanism

10.4.3. Colombia Electric Power Steering Market Outlook

10.4.3.1.     Market Size & Forecast

10.4.3.1.1.         By Volume

10.4.3.1.2.         By Value

10.4.3.2.     Market Share & Forecast

10.4.3.2.1.         By Type

10.4.3.2.2.         By Vehicle Type

10.4.3.2.3.         By Mechanism

10.4.4. Chile Electric Power Steering Market Outlook

10.4.4.1.     Market Size & Forecast

10.4.4.1.1.         By Volume

10.4.4.1.2.         By Value

10.4.4.2.     Market Share & Forecast

10.4.4.2.1.         By Type

10.4.4.2.2.         By Vehicle Type

10.4.4.2.3.         By Mechanism

11.  Middle East and Africa Electric Power Steering Market Outlook

11.1.             Market Size & Forecast

11.1.1. By Volume

11.1.2. By Value

11.2.             Market Share & Forecast

11.2.1. By Type

11.2.2. By Vehicle Type

11.2.3. By Mechanism

11.2.4. By Country

11.3.             Market Map (By Vehicle Type, By Country)

11.4.             Middle East and Africa: Country Analysis

11.4.1. Iran Electric Power Steering Market Outlook

11.4.1.1.     Market Size & Forecast

11.4.1.1.1.         By Volume

11.4.1.1.2.         By Value

11.4.1.2.     Market Share & Forecast

11.4.1.2.1.         By Type

11.4.1.2.2.         By Vehicle Type

11.4.1.2.3.         By Mechanism

11.4.2. South Africa Electric Power Steering Market Outlook

11.4.2.1.     Market Size & Forecast

11.4.2.1.1.         By Volume

11.4.2.1.2.         By Value

11.4.2.2.     Market Share & Forecast

11.4.2.2.1.         By Type

11.4.2.2.2.         By Vehicle Type

11.4.2.2.3.         By Mechanism

11.4.3. Saudi Arabia Electric Power Steering Market Outlook

11.4.3.1.     Market Size & Forecast

11.4.3.1.1.         By Volume

11.4.3.1.2.         By Value

11.4.3.2.     Market Share & Forecast

11.4.3.2.1.         By Type

11.4.3.2.2.         By Vehicle Type

11.4.3.2.3.         By Mechanism

11.4.4. UAE Electric Power Steering Market Outlook

11.4.4.1.     Market Size & Forecast

11.4.4.1.1.         By Volume

11.4.4.1.2.         By Value

11.4.4.2.     Market Share & Forecast

11.4.4.2.1.         By Type

11.4.4.2.2.         By Vehicle Type

11.4.4.2.3.         By Mechanism

12.  Market Dynamics

12.1.Drivers

12.2.Challenges

13.  Market Trends and Developments

14.  Competitive Landscape

14.1.JTEKT Corporation

14.2.NSK Ltd

14.3.Nexteer Automotive Group Limited

14.4.BorgWarner Inc.

14.5.Mando Corporation

14.6.Hitachi Astemo, Ltd.

14.7.Denso Corporation

14.8.Robert Bosch GmbH.

14.9.ZF Friedrichshafen AG

14.10.   Hyundai Mobis Co., Ltd.

15. Strategic Recommendations

Figures and Tables

List of Figure:

Figure 1:       Global Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 2:      Global Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 3:      Global Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 4:      Global Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 5:      Global Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 6:      Global Electric Power Steering Market Share, By Region, By Volume, 2017-2027F

Figure 7:      Global Electric Power Steering Market Share, By Company, By Volume, 2021

Figure 8:      Global Electric Power Steering Market Map, By Vehicle Type, Market Size (Thousand Units) & Growth Rate (%)

Figure 9:      Global Electric Power Steering Market Map, By Region, Market Size (Thousand Units) & Growth Rate (%)

Figure 10:    Asia-Pacific Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 11:    Asia-Pacific Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 12:    Asia-Pacific Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 13:    Asia-Pacific Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 14:    Asia-Pacific Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 15:    Asia-Pacific Electric Power Steering Market Share, By Country, By Volume, 2017-2027F

Figure 16:    Asia-Pacific Electric Power Steering Market Map, By Vehicle Type, Market Size (Thousand Units) & Growth Rate (%)

Figure 17:    Asia-Pacific Electric Power Steering Market Map, By Country, Market Size (Thousand Units) & Growth Rate (%)

Figure 18:    China Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 19:    China Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 20:    China Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 21:    China Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 22:    China Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 23:    Japan Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 24:    Japan Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 25:    Japan Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 26:    Japan Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 27:    Japan Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 28:    India Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 29:    India Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 30:    India Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 31:    India Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 32:    India Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 33:    Indonesia Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 34:    Indonesia Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 35:    Indonesia Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 36:    Indonesia Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 37:    Indonesia Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 38:    Australia Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 39:    Australia Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 40:    Australia Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 41:    Australia Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 42:    Australia Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 43:    Europe Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 44:    Europe Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 45:    Europe Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 46:    Europe Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 47:    Europe Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 48:    Europe Electric Power Steering Market Share, By Country, By Volume, 2017-2027F

Figure 49:    Europe Electric Power Steering Market Map, By Vehicle Type, Market Size (Thousand Units) & Growth Rate (%)

Figure 50:    Europe Electric Power Steering Market Map, By Country, Market Size (Thousand Units) & Growth Rate (%)

Figure 51:    Germany Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 52:    Germany Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 53:    Germany Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 54:    Germany Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 55:    Germany Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 56:    Spain Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 57:    Spain Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 58:    Spain Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 59:    Spain Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 60:    Spain Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 61:    United Kingdom Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 62:    United Kingdom Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 63:    United Kingdom Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 64:    United Kingdom Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 65:    United Kingdom Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 66:    Italy Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 67:    Italy Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 68:    Italy Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 69:    Italy Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 70:    Italy Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 71:    North America Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 72:    North America Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 73:    North America Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 74:    North America Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 75:    North America Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 76:    North America Electric Power Steering Market Share, By Region, By Volume, 2017-2027F

Figure 77:    North America Electric Power Steering Market Map, By Vehicle Type, Market Size (Thousand Units) & Growth Rate (%)

Figure 78:    North America Electric Power Steering Market Map, By Country, Market Size (Thousand Units) & Growth Rate (%)

Figure 79:    United States Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 80:    United States Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 81:    United States Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 82:    United States Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 83:    United States Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 84:    Mexico Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 85:    Mexico Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 86:    Mexico Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 87:    Mexico Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 88:    Mexico Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 89:    Canada Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 90:    Canada Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 91:    Canada Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 92:    Canada Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 93:    Canada Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 94:    South America Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 95:    South America Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 96:    South America Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 97:    South America Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 98:    South America Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 99:    South America Electric Power Steering Market Share, By Region, By Volume, 2017-2027F

Figure 100:  South America Electric Power Steering Market Map, By Vehicle Type, Market Size (Thousand Units) & Growth Rate (%)

Figure 101:  South America Electric Power Steering Market Map, By Country, Market Size (Thousand Units) & Growth Rate (%)

Figure 102:  Brazil Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 103:  Brazil Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 104:  Brazil Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 105:  Brazil Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 106:  Brazil Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 107:  Argentina Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 108:  Argentina Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 109:  Argentina Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 110:  Argentina Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 111:  Argentina Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 112:  Colombia Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 113:  Colombia Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 114:  Colombia Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 115:  Colombia Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 116:  Colombia Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 117:  Chile Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 118:  Chile Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 119:  Chile Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 120:  Chile Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 121:  Chile Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 122:  Middle East and Africa Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 123:  Middle East and Africa Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 124:  Middle East and Africa Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 125:  Middle East and Africa Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 126:  Middle East and Africa Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 127:  Middle East and Africa Electric Power Steering Market Share, By Region, By Volume, 2017-2027F

Figure 128:  Middle East and Africa Electric Power Steering Market Map, By Vehicle Type, Market Size (Thousand Units) & Growth Rate (%)

Figure 129:  Middle East and Africa Electric Power Steering Market Map, By Country, Market Size (Thousand Units) & Growth Rate (%)

Figure 130:  Iran Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 131:  Iran Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 132:  Iran Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 133:  Iran Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 134:  Iran Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 135:  South Africa Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 136:  South Africa Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 137:  South Africa Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 138:  South Africa Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 139:  South Africa Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 140:  Saudi Arabia Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 141:  Saudi Arabia Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 142:  Saudi Arabia Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 143:  Saudi Arabia Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 144:  Saudi Arabia Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Figure 145:  UAE Electric Power Steering Market Size, By Volume (Thousand Units), 2017-2027F

Figure 146:  UAE Electric Power Steering Market Size, By Value (USD Billion), 2017-2027F

Figure 147:  UAE Electric Power Steering Market Share, By Type, By Volume, 2017-2027F

Figure 148:  UAE Electric Power Steering Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 149:  UAE Electric Power Steering Market Share, By Mechanism, By Volume, 2017-2027F

Frequently asked questions

Frequently asked questions

The Pinion type electric power steering generated the most demand among the different types of electric power steering in 2020, accounting for over 47% sales in terms of volume in 2020, owing to its increasing installments in passenger cars.

The collapsible electric power steering of mechanism type segment has operational and safety benefits over its counterpart. As a result, the segment accounted for 96.80% of electric power steering sales globally in 2020, and the trend is expected to continue in the forthcoming years.

Due to the growing demand for passenger cars in Asia Pacific, the region witnessed highest sales of electric power steering in 2021 in terms of volume and the same is expected in the forecast years as well.

The top 10 players in the global electric power steering market are JTEKT Corporation, NSK Ltd, Nexteer Automotive Group Limited, Robert Bosch GmbH, ZF Friedrichshafen AG, Mando Corporation, Hitachi Astemo, Ltd., Hyundai Mobis Co., Ltd., BorgWarner Inc., and Denso Corporation.

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