Electro Hydraulic Power Steering Market

Europe Electro Hydraulic Power Steering Market by Component Types (Steering Motors, Sensors, and Others), Vehicle Types (Passenger Vehicles and Commercial Vehicles), and Geography (Germany, The UK, Italy, Spain, France, and Rest of Europe) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-3324
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 175
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The Europe electro hydraulic power steering market size is anticipated to expand at a significant CAGR during the forecast period, 2021-2028. The growth of the market is attributed to reduction in complexity and weight of vehicles.

Electro Hydraulic Power Steering Market key takeaways


Electro hydraulic power steering is also known as hydraulic power steering. In electro hydraulic power steering, an electric motor drives the pump that is controlled and assisted by steering force. Electro-hydraulic system uses an electric motor to pressure fluid. The main advantage of electro hydraulic power steering is to improve the comfort, as it is easy to handle and improves fuel economy.

During the COVID-19 pandemic, the automobile market was negatively impacted globally due to supply chain disruption. However, the reduction in activities in a substantial manner due to business lockdown.

Market Trends, Drivers, Restraints and Opportunities

  • Increasing research and adoption of EPS in vehicles is projected to drive the market growth during the forecast period.
  • Growing middle class income is expected to boost the market growth in the coming years.
  • Rising number of government norms and mandates related to fuel-efficient technologies is expected to spur the market growth during the forecast period.
  • Increasing focus on automotive safety is anticipated to drive the market growth during the forecast period.
  • High cost of vehicles is estimated to restrict the market growth in the coming years.
  • Rapid development of connected cars and penetration in commercial vehicles can create lucrative opportunities during the forecast period.

Scope of the Report

The report on the Europe electro hydraulic 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

Europe Electro Hydraulic Power Steering Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Component Types (Steering Motors, Sensors, and Others) and Vehicle Types (Passenger Vehicles and Commercial Vehicles)

Geography

Germany, The UK, Italy, Spain, France, and Rest of Europe

Report Coverage

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

Key Players Covered in the Report

TEKT Corporation; Nexteer Automotive Group Ltd; ZF Friedrichshafen AG; NSK Ltd; and Robert Bosch GmbH

 

Europe Electro Hydraulic Power Steering Market Segment Insights

Steering motors segment is expected to grow at a rapid pace

On the basis of component types, the market is segregated into steering motors, sensors, and others. The sensors segment is anticipated to hold a key share of the market in the coming years It helps in providing critical information and measuring steering wheel position angle and rate of turn. On the other hand, the steering motors segment is anticipated to hold a key share of the market in the coming years due to reduction in driver fatigue and prevents the wheel from transferring the loading to the steering column.

Electro Hydraulic Power Steering Market by component types

Commercial vehicles segment to hold a significant market share

On the basis of vehicle types, the market is segregated into passenger vehicles and commercial vehicles. The passenger vehicles segment is expected to represent a key share of the market in the coming years owing to increased demand for sedans, luxury sedans, and mid-range vehicles that have robust steering systems to ensure seamless drivability. However, the commercial vehicles segment is anticipated to expand at a rapid pace during the forecast period owing to improvement in fuel economy as compared to hydraulic power steering.

The UK is estimated to account a major market share

In terms of geography, the market is classified as Germany, The UK, Italy, Spain, France, and Rest of Europe. The Germany is expected to constitute a key share of the market during the projected period. Wide expansion in term of R&D investment for the development of electro hydraulic power steering acts as a major driver of the market growth in the country. However, the market in the UK is anticipated to expand at a rapid pace during the forecast period owing to increasing production of automobiles.

Segments

Segments Covered in the Report
The Europe electro hydraulic power steering market has been segmented on the basis of

Component Types

  • Steering Motors
  • Sensors
  • Others
Vehicle Types
  • Passenger Vehicles
  • Commercial Vehicles
Geography
  • Germany
  • United Kingdom
  • Italy
  • Spain
  • France
  • Rest of Europe
Key Players
  • TEKT Corporation
  • Nexteer Automotive Group Ltd
  • ZF Friedrichshafen AG
  • NSK Ltd
  • Robert Bosch GmbH

Competitive Landscape

Key players competing in the Europe electro hydraulic power steering market includes TEKT Corporation; Nexteer Automotive Group Ltd; ZF Friedrichshafen AG; NSK Ltd; and Robert Bosch GmbH.

Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.

Electro Hydraulic Power Steering Market by key players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Electro Hydraulic Power Steering 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. Electro Hydraulic Power Steering Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Electro Hydraulic Power Steering Market - Supply Chain
  4.5. Global Electro Hydraulic Power Steering Market Forecast
     4.5.1. Electro Hydraulic Power Steering Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Electro Hydraulic Power Steering Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Electro Hydraulic Power Steering Market Absolute $ Opportunity
5. Global Electro Hydraulic Power Steering 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. Electro Hydraulic Power Steering 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 Electro Hydraulic Power Steering Demand Share Forecast, 2019-2026
6. North America Electro Hydraulic Power Steering 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 Electro Hydraulic Power Steering 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 Electro Hydraulic Power Steering Demand Share Forecast, 2019-2026
7. Latin America Electro Hydraulic Power Steering 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 Electro Hydraulic Power Steering 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 Electro Hydraulic Power Steering Demand Share Forecast, 2019-2026
8. Europe Electro Hydraulic Power Steering 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 Electro Hydraulic Power Steering 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 Electro Hydraulic Power Steering Demand Share Forecast, 2019-2026
9. Asia Pacific Electro Hydraulic Power Steering 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 Electro Hydraulic Power Steering 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 Electro Hydraulic Power Steering Demand Share Forecast, 2019-2026
10. Middle East & Africa Electro Hydraulic Power Steering 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 Electro Hydraulic Power Steering 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 Electro Hydraulic Power Steering Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Electro Hydraulic Power Steering Market: Market Share Analysis
  11.2. Electro Hydraulic Power Steering Distributors and Customers
  11.3. Electro Hydraulic Power Steering Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. TEKT Corporation
     11.4.2. Nexteer Automotive Group Ltd
     11.4.3. ZF Friedrichshafen AG
     11.4.4. NSK Ltd
     11.4.5. Robert Bosch GmbH

Segments Covered in the Report
The Europe electro hydraulic power steering market has been segmented on the basis of

Component Types

  • Steering Motors
  • Sensors
  • Others
Vehicle Types
  • Passenger Vehicles
  • Commercial Vehicles
Geography
  • Germany
  • United Kingdom
  • Italy
  • Spain
  • France
  • Rest of Europe
Key Players
  • TEKT Corporation
  • Nexteer Automotive Group Ltd
  • ZF Friedrichshafen AG
  • NSK Ltd
  • Robert Bosch GmbH

Key players competing in the Europe electro hydraulic power steering market includes TEKT Corporation; Nexteer Automotive Group Ltd; ZF Friedrichshafen AG; NSK Ltd; and Robert Bosch GmbH.

Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.

Electro Hydraulic Power Steering Market by key players

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