The Japan automotive electric power steering market size is expected to expand at a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the government requirements and regulations relating to fuel-efficient technology and rising demand for performance efficient vehicles.
The Japanese automobile sector is one of the most well-known in the world. Since the 1960s, Japan has been in the top three countries with the most vehicles produced, overtaking Germany.
The Japan economy is expanding, and middle-class consumers disposable income is rising along with it. This has a favorable impact on the increasing demand for automobiles. Vehicle production has increased dramatically in the last five years as a result of the countries cheap manufacturing prices.
Increasing presence of variety of firms in automobiles manufacturing, construction vehicles, motorbikes, ATVs, and engines in the nation some of these are Nissan, Suzuki, Toyota, Honda, Daihatsu, Mazda, Mitsubishi, Subaru, Isuzu, Kawasaki, Yamaha, and Mitsuoka are among the major Japanese automakers witnessing both domestically and globally increasing production and sales and some premium brands such as Infiniti, Acura, and Lexus are also leading in the country.
The EPS manages and supports vehicle steering with the use of an electric motor, resulting in a smooth and enjoyable steering experience. Furthermore, the new generation of control units offers security in the event of a malfunction.
The report on the Japan 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.
Attributes |
Details |
Report Title |
Japan Automotive Electric Power Steering Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Product Types (Rack assist type (REPS), Colum assist type (CEPS) and Pinion assist type (PEPS)), Vehicle Types (Passenger Car and Commercial Vehicle), Demand Categories (OEM and Replacement) |
Country Scope |
Japan |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
ZF / TRW; Bosch Corporation; NSK; JTEKT Corp.; Nexteer Automotive |
Based on product types, the Japan automotive electric power steering market is divided into rack assist type (REPS), Colum assist type (CEPS), and pinion assist type (PEPS). The pinion assist type (PEPS) segment is expected to represent a key share of the market during the forecast period due to its widely used for control and assist of the vehicle steering from mid-size to SUVs.
On the basis of vehicle types, the Japan automotive electric power steering market is segregated into passenger car and commercial vehicle. The passenger car segment is expected to account for a key share of the market in the coming years owing to its benefits, such as the lack of hoses or fluids in the steering system, it is less expensive to fix and maintain.
In terms of demand categories, the Japan automotive electric power steering market is segmented into OEM and replacement. The OEM segment is expected to represent a key share of the market during the forecast period owing to taking steps to minimize the weight and complexity of cars, while vehicle manufacturing is expanding internationally.
The Japan automotive electric power steering market has been segmented on the basis of
Japan
Key players competing in the Japan automotive electric power steering market include ZF / TRW; Bosch Corporation; NSK; JTEKT Corp.; Nexteer Automotive. Some of these players are coming up with several market such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase/enhance their market shares. For instance,
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