Middle East and Africa 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))
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
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 MEA Electronic Power Steering Market – By Type
1.3.2 MEA Electronic Power Steering Market – By Application
1.3.3 MEA Electronic Power Steering Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. MEA Electronic Power Steering (EPS) Market Landscape
4.1 Market Overview
4.2 MEA PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. MEA Electronic Power Steering (EPS) –Market Dynamics
5.1 Market Drivers
5.1.1 Soaring Fuel-efficient Vehicles Necessity
5.1.2 Propelling Steer-by-Wire (SbW) Technology Adoption
5.2 Market Restraints
5.2.1 Exorbitant Cost of Electronic Power Steering (EPS)
5.3 Market Opportunities
5.3.1 Movement Towards Vehicle Electrification
5.4 Future Trends
5.4.1 New innovation in self-driving vehicles
5.5 Impact Analysis of Drivers and Restraints
6. Electronic Power Steering (EPS) –MEA Market Analysis
6.1 MEA Electronic Power Steering (EPS) Market Overview
6.2 MEA Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Market Players Ranking
7. MEA Electronic Power Steering (EPS) Market Analysis– By Type
7.1 Overview
7.2 MEA 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. MEA Electronic Power Steering (EPS) Market Analysis – By Application
8.1 Overview
8.2 MEA 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. MEA Electronic Power Steering (EPS) Market – Country Analysis
9.1 Overview
9.1.1 MEA: Electronic Power Steering (EPS) Market, By Country
9.1.1.1 South Africa: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.1.1 South Africa: Electronic Power Steering (EPS) Market, By Type
9.1.1.1.2 South Africa: Electronic Power Steering (EPS) Market, By Application
9.1.1.2 Rest of MEA: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.2.1 Rest of MEA: Electronic Power Steering (EPS) Market, By Type
9.1.1.2.2 Rest of MEA: Electronic Power Steering (EPS) Market, By Application
10. MEA Electronic Power Steering (EPS) Market- COVID-19 Impact Analysis
10.1 MEA : Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 New Product Development
12. Company Profiles
12.1 JTEKT Corporation
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 Mitsubishi Electric 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 Nexteer Automotive
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 NSK Ltd.
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 Robert Bosch GmbH
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 Showa Corporation
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 The Mando 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 ThyssenKrupp AG
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 ZF Friedrichshafen 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
13. Appendix
13.1 About The Insight Partners
13.2 Word IndexLIST OF TABLES
Table 1. MEA Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 US$ Mn)
Table 2. South Africa Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 3. South Africa Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 4. Rest of MEA Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million)
Table 5. Rest Of MEA Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million)LIST OF FIGURES
Figure 1. MEA Electronic Power Steering (EPS) Market Segmentation
Figure 2. MEA Electronic Power Steering (EPS) Market Segmentation – By Country
Figure 3. MEA Electronic Power Steering (EPS) - Market Overview
Figure 4. MEA Electronic Power Steering (EPS) Market by Type
Figure 5. MEA Electronic Power Steering (EPS) Market by Application
Figure 6. MEA Electronic Power Steering (EPS) Market by Country
Figure 7. MEA: PEST Analysis
Figure 8. Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. MEA Electronic Power Steering (EPS) Market Impact Analysis of Drivers and Restraints
Figure 11. MEA : Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. MEA Electronic Power Steering (EPS) Market Breakdown, By Type, 2018 & 2027 (%)
Figure 13. MEA Column Assisted Electronic Power Steering(C-EPS) Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 14. MEA Pinion Assisted Electronic Power Steering (P-EPS) Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 15. MEA Rack Assisted Power Steering System (R-EPS) Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 16. MEA Electronic Hydraulic Power Steering (E-HPS) Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 17. MEA Electronic Power Steering (EPS) Market Breakdown, By Application, 2019 & 2027 (%)
Figure 18. MEA Light Commercial Vehicles (LCV) Market Revenue and Forecast to 2027 (US$ Mn)
Figure 19. MEA Passenger Cars Market Revenue and Forecast to 2027 (US$ Mn)
Figure 20. MEA Heavy Commercial Vehicles (HCV) Market Revenue and Forecast to 2027 (US$ Mn)
Figure 21. MEA: Electronic Power Steering (EPS) Market Revenue Share, By Country (2019 and 2027)
Figure 22. South Africa: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Rest of MEA: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Impact of COVID-19 Pandemic in Middle East and Africa Country MarketsSome of the leading companies are:
- JTEKT Corporation
- Mando Corporation
- Mitsubishi Electric Corporation
- Nexteer Automotive
- NSK Ltd.
- Robert Bosch GmbH
- SHOWA CORPORATION
- thyssenkrupp AG
- ZF Friedrichshafen AG
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the MEA electronic power steering market
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- Scrutinize in-depth MEA 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