Africa and Middle-East Automotive Electric Power Steering Market Outlook 2031
The Africa and Middle-East automotive electric power steering market size was valued at USD XX Billion in 2022 and is likely reach to USD XX Billion by 2031, expanding at a CAGR of 4% during the forecast period, 2023–2031. Growth of the market is attributed to the increased personal car ownership and technology improvements.
Electric power steering (EPS) directs the wheel using an electric motor, whereas hydraulic power steering utilizes a pump that is integrated with an oil tank. The constant use of the pump in hydraulic power steering puts a strain on the vehicle's engine, affecting fuel consumption and performance. The torque that is delivered to the steering wheel to drive the vehicle is provided by power steering systems.
The pump, fluid, hoses, pulley, and drive belt are all removed from the hydraulic power system by the electric power system. As a result, electric steering systems are more lightweight and compact than hydraulic steering systems.
Electric power steering (EPS) is powered by a control unit, electric motor, and sensors such as torque sensors. The electric motor is powered by a battery and is used to aid the steering action when the driver moves the steering wheel.
The Covid-19 pandemic affected the demand and supply of advanced ceramics market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth.
Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Automotive Electric Power Steering Market Trends, Drivers, Restraints, and Opportunities
- Increasing popularity of self-driving automobiles is expected to fuel the market during the forecast period.
- Government laws requiring high fuel efficiency and safety measures are key factors propelling the market in the coming years.
- High cost of electric power steering systems is estimated to restrict the market growth.
- Lack of awareness act as major challenge that can impede the market expansion in the coming years.
- Technological advancement is estimated to create lucrative opportunities for the market players.
Scope of Automotive Electric Power Steering Market Report
The report on the Africa and Middle-East automotive electric power steering market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Automotive Electric Power Steering Market - Africa and Middle-East Industry Analysis, Growth, Share, Size, Trends, and Forecast
Component Type (Steering Wheel/Column, Sensors, Steering Motor, Others), Vehicle Type (Passenger Cars and Commercial vehicles)
Africa and Middle East
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
AST Automation Tooling Systems Inc., Hitachi Automotive Systems, Hyundai Mobis Co., Ltd, Delphi Automotive Systems, and GKN PLC.
Automotive Electric Power Steering Market Segment Insights
The sensors segment is projected to hold a major market share
On the basis of component type, the Africa and Middle-East automotive electric power steering market is segregated into steering wheel/column, sensors, steering motor, and others. The sensors segment is expected to represent a key share of the market during the forecast period. Torque sensor, steering wheel speed sensor, and position sensor are the three most common types of sensors.
Among all the sensors utilized in an electric power steering system, the torque sensor has become one of the most important. The hydraulic parts of the system, including as hoses, belts, and pumps, are replaced by digital sensors and motors in EPS systems, which is the most significant difference between standard power steering and electric power steering.
The torque sensor is based on the idea of non-contact magnetic measurement. The torque sensor has two wire coils that are independent of one another. The moment of the vehicle's wheel is controlled by these coils.
The passenger cars segment is expected to grow at a rapid pace
On the basis of vehicle type, the Africa and Middle-East automotive electric power steering market is bifurcated into passenger cars and commercial vehicles. The passenger cars segment is expected to represent a key share of the market during the forecast period.
The market is expected to be driven by rising use of passenger cars. In the current scenario, 30% of passenger vehicles are equipped with EPS technology, and this technology is expected to be used in budget passenger cars throughout the projection period.
EPS systems are anticipated to be replaced by brushless DC motors over the next few years. Brushless DC motors are more efficient, need less maintenance, and less electric noise than brushed DC motors. The passenger car segment is expected to increase at a CAGR of 6.20% during the forecast period.
- Steering Wheel/Column
- Steering Motor
- Passenger Cars
- Commercial vehicles
Key players competing in the Africa and Middle-East automotive electric power steering market include AST Automation Tooling Systems Inc., Hitachi Automotive Systems, Hyundai Mobis Co., Ltd, Delphi Automotive Systems, and GKN PLC.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
For instance, Morocco's first African plant opened in the city of Kenitra in June 2019. This plant is estimated to produce Group PSA's Electric Power Steering (EPS) systems, as well as FCA, Groupe PSA, and the Renault-Nissan-Mitsubishi Alliance's Driveline systems.