Asia Pacific Electronic Power Steering Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type (Column Assisted Electronic Power Steering(C-EPS), Pinion Assisted Electronic Power Steering (P-EPS), Rack Assisted Power Steering System (R-EPS), and Electronic Hydraulic Power Steering (EHPS)), and Application (Light Commercial Vehicles (LCV), Passenger Cars, and Heavy Commercial Vehicles (HCV))

Publication Month: Jan 2021 | Report Code: TIPRE00018141 | No. of Pages: 137 | Category: Automotive and Transportation | Status: Published
Covid

The electronic power steering market in APAC is expected to grow from US$ 26,704.59 million in 2019 to US$ 28,933.30 million by 2027; it is estimated to grow at a CAGR of 4.1% from 2020 to 2027.

China, India, Japan, and South Korea are major economies in APAC. Rising interests for electrification of vehicles is driving the APAC electronic power steering market in a positive way. Several countries are highly focused on building green transportation. For instance, in May 2019, the Ministry of Transport in China and various other ministries mutually issued the Green Travel Action Plan for 2019–2022 that would promote application of green vehicles. The country would also continue to enhance public transportation facilities and information systems that are supporting green transportation. The governments across different countries are taking several initiatives to boost the adoption of electric vehicles in their public transportation—such as e-trucks and e-buses—so as to reduce CO2 emissions by offering tax rebates and incentives. Some of the electric vehicle models are the BYD K9, Mercedes Benz electric truck, and Tata Starbus Hybrid e-buses. Recently, some of the commercial vehicle manufacturers have announced electric buses and some OEMs have announced the plans for migrating full-size trucks or pickup trucks to battery EV platforms. All these factors are expected to create huge opportunities for the growth and the acceleration of new technology implementations, such as EPS, across APAC.

 

APAC is severely affected by the COVID-19 pandemic. The region comprises a large number of developing countries, positive economic outlook, high industrial presence, huge population, and rise in disposable income. All these factors make APAC a major growth driving region for various markets, electronic power steering market. Increasing online shoppers and growing e-commerce sector in this region offer lucrative opportunities for the growth of the APAC electronic power steering market. The consequence and impact of the COVID-19 pandemic can be even worse and totally depend on the spread of the virus. The government of countries in APAC is taking possible steps to reduce the effects of the outbreak by announcing lockdown, which negatively impacts the revenue generated by the market. India is one of the leading manufacturing sectors in the region, and the most affected country in APAC. Several markets in the region have witnessed negative growth in the past three months. The lockdown is hindering the automotive sector in India. Japan and South Korea are still combating the novel coronavirus, which is a critical factor toward the slowdown in the growth of the electronic power steering market. However, China has been able to stabilize the spread of COVID-19, and industries are up and running. This embarks a positive sign toward the stabilization of the electronic power steering market. 

 

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC electronic power steering market. The APAC electronic power steering market is expected to grow at a good CAGR during the forecast period.
APAC Electronic power steering Market

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APAC Electronic power steering Market Segmentation   

 

APAC Electronic power steering Market – By Type

  • Column Assisted Electronic Power Steering(C-EPS)
  • Pinion Assisted Electronic Power Steering (P-EPS)
  • Rack Assisted Power Steering System (R-EPS)
  • Electronic Hydraulic Power Steering (EHPS)

APAC Electronic power steering Market – By Application

  • Light Commercial Vehicles (LCV)
  • Passenger Cars
  • Heavy Commercial Vehicles (HCV)

APAC Electronic power steering Market, by Country

  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC

APAC Electronic power steering Market - Companies Mentioned

  • HYUNDAI MOBIS
  • JTEKT Corporation
  • Mando Corporation
  • Mitsubishi Electric Corporation
  • Nexteer Automotive
  • NSK Ltd.
  • Robert Bosch GmbH
  • SHOWA CORPORATION
  • thyssenkrupp AG
  • ZF Friedrichshafen AG

TABLE OF CONTENTS

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

1.3.1        APAC Electronic Power Steering Market – By Type

1.3.2        APAC Electronic Power Steering Market – By Application

1.3.3        APAC Electronic Power Steering Market – By Country

2.           Key Takeaways

3.           Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           APAC Electronic Power Steering (EPS) Market Landscape

4.1         Market Overview

4.2         APAC PEST Analysis

4.3         Ecosystem Analysis

4.4         Expert Opinion

5.           APAC Electronic Power Steering (EPS) –Market Dynamics

5.1         Market Drivers

5.1.1        Fuel-Efficient Automobiles Demand Rising Throughout APAC

5.1.2        Catalysing Usage of Steer-by-Wire (SbW) Technology

5.1.3        Growing Sales of Premium Cars in China

5.2         Market Restraints

5.2.1        Affordability Issues of Electronic Power Steering (EPS)

5.3         Market Opportunities

5.3.1        Rising Interests For Electrification of Vehicles

5.4         Future Trends

5.4.1        Technological Advancements in Self-Driving Vehicles

5.5         Impact Analysis of Drivers and Restraints

6.           Electronic Power Steering (EPS) – APAC Market Analysis

6.1         APAC Electronic Power Steering (EPS) Market Overview

6.2         APAC Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)

6.3         Market Positioning – Market Players Ranking

7.           APAC Electronic Power Steering (EPS) Market Analysis– By Type

7.1         Overview

7.2         APAC Electronic Power Steering (EPS) Market Breakdown, By Type, 2018 & 2027

7.3         Column Assisted Electronic Power Steering(C-EPS)

7.3.1        Overview

7.3.2        Column Assisted Electronic Power Steering(C-EPS) Market Revenue and Forecasts to 2027 (US$ Mn)

7.4         Pinion Assisted Electronic Power Steering (P-EPS)

7.4.1        Overview

7.4.2        Pinion Assisted Electronic Power Steering (P-EPS) Market Revenue and Forecasts to 2027 (US$ Mn)

7.5         Rack Assisted Power Steering System (R-EPS)

7.5.1        Overview

7.5.2        Rack Assisted Power Steering System (R-EPS) Market Revenue and Forecasts to 2027 (US$ Mn)

7.6         Electronic Hydraulic Power Steering (E-HPS)

7.6.1        Overview

7.6.2        Electronic Hydraulic Power Steering (E-HPS) Market Revenue and Forecasts to 2027 (US$ Mn)

8.           APAC Electronic Power Steering (EPS) Market Analysis – By Application

8.1         Overview

8.2         APAC Electronic Power Steering (EPS) Market Breakdown, By Application, 2019 & 2027 (%)

8.3         Light Commercial Vehicles (LCV)

8.3.1        Overview

8.3.2        Light Commercial Vehicles (LCV) Market Forecast and Analysis

8.4         Passenger Cars

8.4.1        Overview

8.4.2        Passenger Cars Market Forecast and Analysis

8.5         Heavy Commercial Vehicles (HCV)

8.5.1        Overview

8.5.2        Heavy Commercial Vehicles (HCV) Market Forecast and Analysis

9.           APAC Electronic Power Steering (EPS) Market – Country Analysis

9.1         Overview

9.1.1        APAC: Electronic Power Steering (EPS) Market, By Country

9.1.1.1          China: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)

9.1.1.1.1          China: Electronic Power Steering (EPS) Market, By Type

9.1.1.1.2          China: Electronic Power Steering (EPS) Market, By Application

9.1.1.2          India: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)

9.1.1.2.1          India: Electronic Power Steering (EPS) Market, By Type

9.1.1.2.2          India: Electronic Power Steering (EPS) Market, By Application

9.1.1.3          Japan: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)

9.1.1.3.1          Japan: Electronic Power Steering (EPS) Market, By Type

9.1.1.3.2          Japan: Electronic Power Steering (EPS) Market, By Application

9.1.1.4          South Korea: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)

9.1.1.4.1          South Korea: Electronic Power Steering (EPS) Market, By Type

9.1.1.4.2          South Korea: Electronic Power Steering (EPS) Market, By Application

9.1.1.5          Rest of APAC: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)

9.1.1.5.1          Rest of APAC: Electronic Power Steering (EPS) Market, By Type

9.1.1.5.2          Rest of APAC: Electronic Power Steering (EPS) Market, By Application

10.        APAC Electronic Power Steering (EPS) Market- COVID-19 Impact Analysis

10.1      APAC: Impact Assessment of COVID-19 Pandemic

11.        Industry Landscape

11.1      Overview

11.2      Market Initiative

11.3      New Product Development

12.        Company Profiles

12.1      Hyundai Mobis

12.1.1     Key Facts

12.1.2     Business Description

12.1.3     Products and Services

12.1.4     Financial Overview

12.1.5     SWOT Analysis

12.1.6     Key Developments

12.2      JTEKT Corporation

12.2.1     Key Facts

12.2.2     Business Description

12.2.3     Products and Services

12.2.4     Financial Overview

12.2.5     SWOT Analysis

12.2.6     Key Developments

12.3      Mitsubishi Electric Corporation

12.3.1     Key Facts

12.3.2     Business Description

12.3.3     Products and Services

12.3.4     Financial Overview

12.3.5     SWOT Analysis

12.3.6     Key Developments

12.4      Nexteer Automotive

12.4.1     Key Facts

12.4.2     Business Description

12.4.3     Products and Services

12.4.4     Financial Overview

12.4.5     SWOT Analysis

12.4.6     Key Developments

12.5      NSK Ltd.

12.5.1     Key Facts

12.5.2     Business Description

12.5.3     Products and Services

12.5.4     Financial Overview

12.5.5     SWOT Analysis

12.5.6     Key Developments

12.6      Robert Bosch GmbH

12.6.1     Key Facts

12.6.2     Business Description

12.6.3     Products and Services

12.6.4     Financial Overview

12.6.5     SWOT Analysis

12.6.6     Key Developments

12.7      Showa Corporation

12.7.1     Key Facts

12.7.2     Business Description

12.7.3     Products and Services

12.7.4     Financial Overview

12.7.5     SWOT Analysis

12.7.6     Key Developments

12.8      The Mando Corporation

12.8.1     Key Facts

12.8.2     Business Description

12.8.3     Products and Services

12.8.4     Financial Overview

12.8.5     SWOT Analysis

12.8.6     Key Developments

12.9      ThyssenKrupp AG

12.9.1     Key Facts

12.9.2     Business Description

12.9.3     Products and Services

12.9.4     Financial Overview

12.9.5     SWOT Analysis

12.9.6     Key Developments

12.10   ZF Friedrichshafen AG

12.10.1  Key Facts

12.10.2  Business Description

12.10.3  Products and Services

12.10.4  Financial Overview

12.10.5  SWOT Analysis

12.10.6  Key Developments

13.        Appendix

13.1      About The Insight Partners

             13.2      Word Index

LIST OF TABLES

Table 1.             APAC Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 US$ Million)

Table 2.             China Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)

Table 3.             China Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)

Table 4.             India Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)

Table 5.             India Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)

Table 6.             Japan Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)

Table 7.             Japan Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)

Table 8.             South Korea Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)

Table 9.             South Korea Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027  (US$ Million)

Table 10.          Rest of APAC Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)

Table 11.            Rest Of APAC Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027  (US$ Million)

LIST OF FIGURES

Figure 1.           APAC Electronic Power Steering (EPS) Market Segmentation

Figure 2.           APAC Electronic Power Steering (EPS) Market Segmentation – By Country

Figure 3.           APAC Electronic Power Steering (EPS) – Country Analysis

Figure 4.           APAC Electronic Power Steering (EPS) - Market Overview

Figure 5.           APAC Electronic Power Steering (EPS) Market by Type

Figure 6.           Electronic Power Steering (EPS) Market by Application

Figure 7.           APAC Electronic Power Steering (EPS) Market by Country

Figure 8.           APAC: PEST Analysis

Figure 9.           Ecosystem Analysis

Figure 10.        Expert Opinion

Figure 11.        APAC Electronic Power Steering (EPS) Market Impact Analysis of Drivers and Restraints

Figure 12.        APAC : Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)

Figure 13.        APAC Electronic Power Steering (EPS) Market Breakdown, By Type, 2018 & 2027 (%)

Figure 14.        APAC Column Assisted Electronic Power Steering(C-EPS) Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 15.        APAC Pinion Assisted Electronic Power Steering (P-EPS) Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 16.        APAC Rack Assisted Power Steering System (R-EPS) Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 17.        APAC Electronic Hydraulic Power Steering (E-HPS) Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 18.        APAC Electronic Power Steering (EPS) Market Breakdown, By Application, 2019 & 2027 (%)

Figure 19.        APAC Light Commercial Vehicles (LCV) Market Revenue and Forecast to 2027 (US$ Mn)

Figure 20.        APAC Passenger Cars Market Revenue and Forecast to 2027 (US$ Mn)

Figure 21.        APAC Heavy Commercial Vehicles (HCV) Market Revenue and Forecast to 2027 (US$ Mn)

Figure 22.        APAC: Electronic Power Steering (EPS) Market Revenue Share, By Country (2019 and 2027)

Figure 23.        China: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)

Figure 24.        India: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)

Figure 25.        Japan: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)

Figure 26.        South Korea: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)

Figure 27.        Rest of APAC: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)

Figure 28.          Impact of COVID-19 Pandemic in APAC Country Markets

Some of the leading companies are:

  1. HYUNDAI MOBIS
  2. JTEKT Corporation
  3. Mando Corporation
  4. Mitsubishi Electric Corporation
  5. Nexteer Automotive
  6. NSK Ltd.
  7. Robert Bosch GmbH
  8. SHOWA CORPORATION
  9. thyssenkrupp AG
  10. ZF Friedrichshafen AG
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the APAC electronic power steering market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the APAC electronic power steering market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the electronic power steering market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
TIPRE00018141
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