Middle East and Africa Electronic Power Steering Market Segments and Growth by 2027

The electronic power steering market in MEA is expected to grow from US$ 1,599.45 million in 2019 to US$ 1,521.65 million by 2027; it is estimated to grow at a CAGR of 2.7% from 2020 to 2027.

South Africa, Saudi Arabia, and UAE are major economies in MEA. Recent movement towards vehicle electrification is driving the MEA electronic power steering market in a positive way. The acceptance of buses and trucks, particularly for logistics and public transport purposes, is increasing across the MEA region. With the development of existing transport networks, the rising population of urban areas is demanding increasing public transport and proving to be inadequate. MEA-wide OEMs are now focused on reducing their carbon footprint, hence increasing the use of electric vehicles. Passenger cars and taxis are concentrating more on the implementation of greener technology with rising mobility on demand. The manufacturers primarily concentrate on the area of electrification of vehicles, in particular passenger cars. Several nations are strongly focused on developing green transport. The BYD K9, Mercedes Benz electric truck, and Tata Starbus Hybrid e-buses are some of the electric vehicle models. Electric buses have recently been announced by some commercial vehicle manufacturers, and some OEMs have announced plans to migrate full-size trucks or pickup trucks to EV battery platforms. All of these factors are expected to generate tremendous growth opportunities and accelerate the introduction of new technologies, such as EPS, across the MEA.

Also the ongoing COVID-19 pandemic is affecting the MEA region very badly. Among the MEA countries, South Africa has faced the highest COVID-19 cases. Other significant countries facing the economic impact of COVID-19 include Iran, Turkey, Saudi Arabia, Israel, Morocco, UAE, Qatar, Kuwait, Oman, and Egypt. The region comprises many growing economies such as UAE and Saudi Arabia, among others, which are prospective markets for electronic power steering providers, owing to the huge presence of diverse customer base for the automotive and transportation sectors. The COVID-19 pandemic would have significant effects on economies, but the region has negatively impacted as there is already pressure on the economy of various oil-based countries due to falling oil prices. In addition to this, the factory lockdowns, business shutdowns, and travel bans are further aggravating the economic problems of the countries in the MEA. Hence, the estimated decline in the region’s economic condition and impact of COVID-19 on the growth of various industries in the region is expected to negatively impact the development of the electronic power steering market in 2020 and 2021.    

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 MEA electronic power steering market. The MEA electronic power steering market is expected to grow at a good CAGR during the forecast period.

MEA Electronic power steering Market Segmentation    

MEA 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)

MEA Electronic power steering Market – By Application

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

MEA Electronic power steering Market, by Country

• South Africa
• Rest of MEA

MEA Electronic power steering Market - Companies Mentioned

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

Middle East and Africa Electronic Power Steering Report Scope