Europe 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: TIPRE00018152 | No. of Pages: 135 | Category: Automotive and Transportation | Status: Published
Covid

The electronic power steering market in Europe is expected to grow from US$ 12,256.23 million in 2019 to US$ 12387.43 million by 2027; it is estimated to grow at a CAGR of 3.2% from 2020 to 2027.

Germany, France, Italy, Russia and UK are major economies in Europe. Steer-by-Wire (SbW) technology being adopted is driving the Europe electronic power steering market in a positive way. Rising adoption of autonomous driving is one of the major factors boosting the adoption of steer-by-wire systems in the vehicles. SbW is enhancing the driving experience as well as safety. The SbW technology is currently experiencing a constant surge in development as well as demand. The higher levels of autonomous driving require uninterrupted communication, redundant power supply, and steering rack. Additionally, the OEMs are focusing on removing the mechanical components to have more flexibility in designing the vehicle interior and engine compartment. The vehicles can be steered from anywhere inside the vehicle with the help of SbW. In addition, there is no requirement of designing and producing the different versions for right and left-hand drive. With the integration of SbW, the direct mechanical link to the road is removed, and the vehicle interior is decoupled acoustically. Moreover, the SbW enhances the safety with the help of driver assistance systems. It also eliminates the intermediate steering shaft and thus, reduces the risk of injury to the driver from mechanical steering components by augmenting the passive safety in the vehicle.

 

Further, the ongoing COVID-19 pandemic is having a bad impact over the Europe region. Due to COVID-19 outbreak, Spain, Italy, Germany, UK, and France are some of the worst affected member states in the European region. Businesses in the region are facing severe financial difficulties as they either had to suspend their operations or reduce their activities in a substantial manner. Due to business lockdowns, travel bans, and supply chain disruptions, the region is anticipated to see an economic slowdown in 2020 and most likely in 2021 also. The entire region is heavily hit by the COVID-19 which has resulted into closure of tech giants and many industrial sector. This closure has obstructed the company’s investment decision on different software. The region is a major manufacturing and industrial hub for various sectors such as machinery equipment, manufacturing, and logistics. However, due to business lockdowns, travel bans, and supply chain disruptions, the region has witnessed decline in activities in above-mentioned industries. Decline in activities of above-mentioned industries has resulted into lesser development of 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 Europe electronic power steering market. The Europe electronic power steering market is expected to grow at a good CAGR during the forecast period.
   Europe Electronic power steering Market

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Europe Electronic power steering Market Segmentation   

 

Europe 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)

Europe Electronic power steering Market – By Application

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

Europe Electronic power steering Market, by Country

  • Germany
  • France
  • Italy
  • United Kingdom
  • Russia
  • Rest of Europe

Europe 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 

1.           Introduction. 14

1.1         Study Scope. 14

1.2         The Insight Partners Research Report Guidance. 14

1.3         Market Segmentation. 16

1.3.1        Europe Electronic Power Steering Market – By Type. 18

1.3.2        Europe Electronic Power Steering Market – By Application. 18

1.3.3        Europe Electronic Power Steering Market – By Country. 18

2.           Key Takeaways. 19

3.           Research Methodology. 24

3.1         Coverage. 26

3.2         Secondary Research. 26

3.3         Primary Research. 27

4.           Europe Electronic Power Steering (EPS) Market Landscape. 28

4.1         Market Overview.. 28

4.2         Europe PEST Analysis. 30

4.3         Ecosystem Analysis. 31

4.4         Expert Opinion. 32

5.           Europe Electronic Power Steering (EPS) –Market Dynamics. 34

5.1         Market Drivers. 34

5.1.1        Fuel-Efficient Vehicles at Huge Demand. 34

5.1.2        Steer-by-Wire (SbW) Technology Being Adopted. 34

5.2         Market Restraints. 35

5.2.1        Electronic Power Steering (EPS) Being Costly. 35

5.3         Market Opportunities. 36

5.3.1        Latest Trend of Electrification of Vehicles. 36

5.4         Future Trends. 36

5.4.1        Self-Driving Vehicles Developing Fast 36

5.5         Impact Analysis of Drivers and Restraints. 37

6.           Electronic Power Steering (EPS) – Europe Market Analysis. 38

6.1         Europe Electronic Power Steering (EPS) Market Overview.. 38

6.2         Europe Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 39

6.3         Market Positioning – Market Players Ranking. 40

7.           Europe Electronic Power Steering (EPS) Market Analysis– By Type. 41

7.1         Overview.. 41

7.2         Europe Electronic Power Steering (EPS) Market Breakdown, By Type, 2018 & 2027. 41

7.3         Column Assisted Electronic Power Steering(C-EPS) 43

7.3.1        Overview.. 43

7.3.2        Column Assisted Electronic Power Steering(C-EPS) Market Revenue and Forecasts to 2027 (US$ Mn) 43

7.4         Pinion Assisted Electronic Power Steering (P-EPS) 45

7.4.1        Overview.. 45

7.4.2        Pinion Assisted Electronic Power Steering (P-EPS) Market Revenue and Forecasts to 2027 (US$ Mn) 45

7.5         Rack Assisted Power Steering System (R-EPS) 47

7.5.1        Overview.. 47

7.5.2        Rack Assisted Power Steering System (R-EPS) Market Revenue and Forecasts to 2027 (US$ Mn) 47

7.6         Electronic Hydraulic Power Steering (E-HPS) 49

7.6.1        Overview.. 49

7.6.2        Electronic Hydraulic Power Steering (E-HPS) Market Revenue and Forecasts to 2027 (US$ Mn) 49

8.           Europe Electronic Power Steering (EPS) Market Analysis – By Application. 51

8.1         Overview.. 51

8.2         Europe Electronic Power Steering (EPS) Market Breakdown, By Application, 2019 & 2027 (%) 51

8.3         Light Commercial Vehicles (LCV) 53

8.3.1        Overview.. 53

8.3.2        Light Commercial Vehicles (LCV) Market Forecast and Analysis. 53

8.4         Passenger Cars. 54

8.4.1        Overview.. 54

8.4.2        Passenger Cars Market Forecast and Analysis. 54

8.5         Heavy Commercial Vehicles (HCV) 55

8.5.1        Overview.. 55

8.5.2        Heavy Commercial Vehicles (HCV) Market Forecast and Analysis. 55

9.           Europe Electronic Power Steering (EPS) Market –  Country Analysis. 56

9.1         Overview.. 56

9.1.1        Europe: Electronic Power Steering (EPS) Market, By Country. 57

9.1.1.1          Germany: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 58

9.1.1.1.1          Germany: Electronic Power Steering (EPS) Market, By Type. 59

9.1.1.1.2          Germany: Electronic Power Steering (EPS) Market, By Application. 59

9.1.1.2          France: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 60

9.1.1.2.1          France: Electronic Power Steering (EPS) Market, By Type. 61

9.1.1.2.2          France: Electronic Power Steering (EPS) Market, By Application. 62

9.1.1.3          Italy: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 63

9.1.1.3.1          Italy: Electronic Power Steering (EPS) Market, By Type. 64

9.1.1.3.2          Italy: Electronic Power Steering (EPS) Market, By Application. 64

9.1.1.4          UK: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 65

9.1.1.4.1          UK: Electronic Power Steering (EPS) Market, By Type. 66

9.1.1.4.2          UK: Electronic Power Steering (EPS) Market, By Application. 67

9.1.1.5          Russia: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 68

9.1.1.5.1          Russia: Electronic Power Steering (EPS) Market, By Type. 69

9.1.1.5.2          Russia: Electronic Power Steering (EPS) Market, By Application. 69

9.1.1.6          Rest of Europe: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 70

9.1.1.6.1          Rest of Europe: Electronic Power Steering (EPS) Market, By Type. 71

9.1.1.6.2          Rest of Europe: Electronic Power Steering (EPS) Market, By Application. 72

10.        Europe Electronic Power Steering (EPS) Market- COVID-19 Impact Analysis. 73

10.1      Europe: Impact Assessment of COVID-19 Pandemic. 73

11.        Industry Landscape. 75

11.1      Overview.. 75

11.2      Market Initiative. 75

11.3      New Product Development 76

12.        Company Profiles. 77

12.1      Hyundai Mobis. 77

12.1.1     Key Facts. 77

12.1.2     Business Description. 77

12.1.3     Products and Services. 78

12.1.4     Financial Overview.. 79

12.1.5     SWOT Analysis. 82

12.1.6     Key Developments. 83

12.2      JTEKT Corporation. 84

12.2.1     Key Facts. 84

12.2.2     Business Description. 84

12.2.3     Products and Services. 85

12.2.4     Financial Overview.. 86

12.2.5     SWOT Analysis. 89

12.2.6     Key Developments. 90

12.3      Mitsubishi Electric Corporation. 91

12.3.1     Key Facts. 91

12.3.2     Business Description. 91

12.3.3     Products and Services. 92

12.3.4     Financial Overview.. 92

12.3.5     SWOT Analysis. 95

12.3.6     Key Developments. 95

12.4      Nexteer Automotive. 96

12.4.1     Key Facts. 96

12.4.2     Business Description. 96

12.4.3     Products and Services. 97

12.4.4     inancial Overview.. 98

12.4.5     SWOT Analysis. 101

12.4.6     Key Developments. 102

12.5      NSK Ltd. 103

12.5.1     Key Facts. 103

12.5.2     Business Description. 103

12.5.3     Products and Services. 104

12.5.4     Financial Overview.. 104

12.5.5     SWOT Analysis. 107

12.5.6     Key Developments. 108

12.6      Robert Bosch GmbH.. 109

12.6.1     Key Facts. 109

12.6.2     Business Description. 109

12.6.3     Products and Services. 110

12.6.4     Financial Overview.. 110

12.6.5     SWOT Analysis. 113

12.6.6     Key Developments. 114

12.7      Showa Corporation. 115

12.7.1     Key Facts. 115

12.7.2     Business Description. 115

12.7.3     Products and Services. 116

12.7.4     Financial Overview.. 117

12.7.5     SWOT Analysis. 118

12.7.6     Key Developments. 118

12.8      The Mando Corporation. 119

12.8.1     Key Facts. 119

12.8.2     Business Description. 119

12.8.3     Products and Services. 120

12.8.4     Financial Overview.. 120

12.8.5     SWOT Analysis. 121

12.8.6     Key Developments. 121

12.9      ThyssenKrupp AG.. 122

12.9.1     Key Facts. 122

12.9.2     Business Description. 122

12.9.3     Products and Services. 123

12.9.4     Financial Overview.. 123

12.9.5     SWOT Analysis. 126

12.9.6     Key Developments. 126

12.10   ZF Friedrichshafen AG.. 127

12.10.1  Key Facts. 127

12.10.2  Business Description. 127

12.10.3  Products and Services. 128

12.10.4  Financial Overview.. 128

12.10.5  SWOT Analysis. 131

12.10.6  Key Developments. 132

13.        Appendix. 133

13.1      About The Insight Partners. 133

13.2      Word Index. 133

LIST OF TABLES

Table 1.             Europe Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 US$ Million) 39

Table 2.             Germany Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million) 59

Table 3.             Germany Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million) 59

Table 4.             France Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million) 61

Table 5.             France Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million) 62

Table 6.             Italy Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million) 64

Table 7.             Italy Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million) 64

Table 8.             UK Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million) 66

Table 9.             UK Electronic Power Steering (EPS) Market, By Application– Revenue and Forecast to 2027 (US$ Million) 67

Table 10.          Russia Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million) 69

Table 11.          Russia Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million) 69

Table 12.          Rest of Europe Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million) 71

Table 13.          Rest of Europe Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027  (US$ Million) 72

 

 

LIST OF FIGURES

Figure 1.           Europe Electronic Power Steering (EPS) Market Segmentation. 16

Figure 2.           Europe Electronic Power Steering (EPS) Market Segmentation – By Country. 17

Figure 3.           Europe Electronic Power Steering (EPS) – Country Analysis. 19

Figure 4.           Europe Electronic Power Steering (EPS) - Market Overview.. 20

Figure 5.           Europe Electronic Power Steering (EPS) Market by Type. 21

Figure 6.           Europe Electronic Power Steering (EPS) Market by Application. 22

Figure 7.           Europe Electronic Power Steering (EPS) Market by Country. 23

Figure 8.           Europe: PEST Analysis. 30

Figure 9.           Ecosystem Analysis. 31

Figure 10.        Expert Opinion. 33

Figure 11.        Europe Electronic Power Steering (EPS) Market Impact Analysis of Drivers and Restraints. 37

Figure 12.        Europe: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 39

Figure 13.        Europe Electronic Power Steering (EPS) Market Breakdown, By Type, 2018 & 2027 (%) 42

Figure 14.        Europe Column Assisted Electronic Power Steering(C-EPS) Market Revenue and Forecasts to 2027 (US$ Mn) 44

Figure 15.        Europe Pinion Assisted Electronic Power Steering (P-EPS) Market Revenue and Forecasts to 2027 (US$ Mn) 46

Figure 16.        Europe Rack Assisted Power Steering System (R-EPS) Market Revenue and Forecasts to 2027 (US$ Mn) 48

Figure 17.        Europe Electronic Hydraulic Power Steering (E-HPS) Market Revenue and Forecasts to 2027 (US$ Mn) 50

Figure 18.        Europe Electronic Power Steering (EPS) Market Breakdown, By Application, 2019 & 2027 (%) 52

Figure 19.        Europe Light Commercial Vehicles (LCV) Market Revenue and Forecast to 2027 (US$ Mn) 53

Figure 20.        Europe Passenger Cars Market Revenue and Forecast to 2027 (US$ Mn) 54

Figure 21.        Europe Heavy Commercial Vehicles (HCV) Market Revenue and Forecast to 2027 (US$ Mn) 55

Figure 22.        Europe: Electronic Power Steering (EPS) Market Revenue Share, By Country (2019 and 2027) 57

Figure 23.        Germany: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 58

Figure 24.        France: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 60

Figure 25.        Italy: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 63

Figure 26.        UK: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 65

Figure 27.        Russia: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 68

Figure 28.        Rest of Europe: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 70

Figure 29.        Impact of COVID-19 Pandemic in Europe Country Markets. 74

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 Europe 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 Europe 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 Europe 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
TIPRE00018152
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