Mexico Automotive Electric Power Steering (EPS) Market

Mexico Automotive Electric Power Steering (EPS) Market by 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), and Country - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: AL-3146
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 1
  • No. Of Pages: 210
  • Format:
  • Pub. Date: Upcoming
  • Share:

The Mexico 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 increase in the frequency of incidents has also prompted end-users to implement improved safety systems.

Mexico Automotive Electric Power Steering (EPS) Market Key Takeaways

The Mexican automotive industry grew steadily from 2010 to 2016, with light vehicle sales rising from 803,222 in 2010 to 1,604,000 in 2016. This growth was accompanied by a massive expansion of local production, which boomed for new localization done by new manufacturers such as Mazda, Hyundai, Honda, and Kia, as well as expansion of already existing companies such as Ford and General Motors.

The United States–Mexico–Canada Agreement (USMCA), which took effect on July 1, 2020, contains many revisions to the automobile industry's rules of origin. The USMCA stipulates that a vehicle's content must be produced in North America to the tune of 75 percent (70 percent for heavy trucks) and that essential car parts must come from the United States, Canada, or Mexico.
Original equipment (OE) parts, aftermarket parts, electric and hybrid cars, specialist equipment, and remanufactured goods are the six primary sub-sectors of Mexico's automotive industry. OE components, aftermarket, and electric vehicle parts are among the sub-sectors where the US Commercial Service Mexico sees great prospects.

The Mexico 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.

Traffic congestion is a major concern in Mexico City. With traffic levels approaching unacceptably high levels, the city needed to make a substantial shift. As a result, the authorities started steps to restructure transportation and address the issue of on-street parking. The need for parking assist systems will increase as a result of this change.

Electric power steering systems are more fuel-efficient than other alternatives because they do not use belt-driven hydraulic or manual pumps, which operate continuously whether assistance is required or not.

For completely automated driving, electric power steering (EPS) is a crucial technology. Small, mid-range, sports automobiles, as well as light commercial vehicles, can all benefit from the EPS variations. The vehicle steering is controlled by an electric motor on the EPS.

 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.

In 2020, sales were down due to the COVID-19 pandemic. In actuality, 949,121 units were sold, a 28 percent decrease over the previous year. The Mexican market started the year badly in 2021, with 259,034 units sold in Q1, a 12.7 percent fall in sales compared to Q1 2020. In Q3, sales continued to climb, but at a slower pace, with 237,322 units sold, a gain of only 4.2 percent.

Market Trends, Drivers, Restraints, and Opportunities

  • Rapid demand for higher steering power, to improve driver comfort and feedback is major factors driving the market growth in the coming years.
  • Increase in the number of accidents trending the demand for better safety system are anticipated to surge the market.
  • Growing trend to owned a personal vehicle also high demand for advance technology with maximum safety features are estimated to fuel the market expansion during the forecast period.
  • Rising popularity of self-driving vehicles is expected to boost the market growth in the coming years.
  • Roadway and vehicle design advancements have gradually lowered injury and fatality rates is projected to propel the market.
  • High price of electric power steering (EPS) components is expected to hamper the market growth.
  • Semiconductor shortage act as key challenges that can hamper the market growth during the forecast period.

Scope of the Report

The report on the Mexico 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

Automotive Electric Power Steering Market - Mexico Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

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

Mexico

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Delphi Automotive Systems; GKN PLC; Hitachi Automotive Systems; Hyundai Mobis Co. Ltd; ATS Automation Tooling Systems Inc.

Mexico Automotive Electric Power Steering Market Segment Insights

The pinion assist type (PEPS) segment is projected to account for a large market share

Based on product types, the Mexico 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.

The Passenger Car segment is expected to register at a rapid pace

On the basis of Vehicle Types, the Mexico 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 less expensive and low maintenance cost.

Mexico Automotive Electric Power Steering (EPS) Market By Vehicle Types

The OEM segment is expected to grow at a rapid pace

In terms of demand categories, the Mexico 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 their cars, while vehicle manufacturing is expanding internationally.

Segments

The Mexico automotive electric power steering market has been segmented on the basis of

Product Types

  • Rack assist type (REPS)
  • Colum assist type (CEPS)
  • Pinion assist type (PEPS)

 Vehicle Types

  • Passenger Car
  • Commercial Vehicle

Demand Categories

  • OEM
  • Replacement

Country

  • Mexico

Key Players

  • Delphi Automotive Systems
  • GKN PLC
  • Hitachi Automotive Systems
  • Hyundai Mobis Co. Ltd
  • ATS Automation Tooling Systems Inc

Competitive Landscape

Key players competing in the Mexico automotive electric power steering market include Delphi Automotive Systems; GKN PLC; Hitachi Automotive Systems; Hyundai Mobis Co. Ltd; ATS Automation Tooling Systems Inc.

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.

Mexico Automotive Electric Power Steering (EPS) Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Automotive Electric Power Steering (EPS) Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Automotive Electric Power Steering (EPS) Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Automotive Electric Power Steering (EPS) Market - Supply Chain
  4.5. Global Automotive Electric Power Steering (EPS) Market Forecast
     4.5.1. Automotive Electric Power Steering (EPS) Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Automotive Electric Power Steering (EPS) Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Automotive Electric Power Steering (EPS) Market Absolute $ Opportunity
5. Global Automotive Electric Power Steering (EPS) Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Automotive Electric Power Steering (EPS) Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Automotive Electric Power Steering (EPS) Demand Share Forecast, 2019-2026
6. North America Automotive Electric Power Steering (EPS) Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Automotive Electric Power Steering (EPS) Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Automotive Electric Power Steering (EPS) Demand Share Forecast, 2019-2026
7. Latin America Automotive Electric Power Steering (EPS) Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Automotive Electric Power Steering (EPS) Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Automotive Electric Power Steering (EPS) Demand Share Forecast, 2019-2026
8. Europe Automotive Electric Power Steering (EPS) Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Automotive Electric Power Steering (EPS) Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Automotive Electric Power Steering (EPS) Demand Share Forecast, 2019-2026
9. Asia Pacific Automotive Electric Power Steering (EPS) Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Automotive Electric Power Steering (EPS) Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Automotive Electric Power Steering (EPS) Demand Share Forecast, 2019-2026
10. Middle East & Africa Automotive Electric Power Steering (EPS) Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Automotive Electric Power Steering (EPS) Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Automotive Electric Power Steering (EPS) Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Automotive Electric Power Steering (EPS) Market: Market Share Analysis
  11.2. Automotive Electric Power Steering (EPS) Distributors and Customers
  11.3. Automotive Electric Power Steering (EPS) Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Delphi Automotive Systems GKN PLC Hitachi Automotive Systems Hyundai Mobis Co. Ltd ATS Automation Tooling Systems Inc
The Mexico automotive electric power steering market has been segmented on the basis of

Product Types

  • Rack assist type (REPS)
  • Colum assist type (CEPS)
  • Pinion assist type (PEPS)

 Vehicle Types

  • Passenger Car
  • Commercial Vehicle

Demand Categories

  • OEM
  • Replacement

Country

  • Mexico

Key Players

  • Delphi Automotive Systems
  • GKN PLC
  • Hitachi Automotive Systems
  • Hyundai Mobis Co. Ltd
  • ATS Automation Tooling Systems Inc

Key players competing in the Mexico automotive electric power steering market include Delphi Automotive Systems; GKN PLC; Hitachi Automotive Systems; Hyundai Mobis Co. Ltd; ATS Automation Tooling Systems Inc.

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.

Mexico Automotive Electric Power Steering (EPS) Market By Key Players

Buy Report