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IndustryARC

Global Electric Power Steering (EPS) Market Analysis and

Forecast (2014 2020)

By Type (EPHS, HPS, C-EPAS, P-EPAS, R-EPAS etc.), By Vehicle Type

(Passenger, Sports, Commercial and Light Commercial) and By Geography

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TABLE OF CONTENTS
1. Global Electric Power Steering Market Overview
2. Executive Summary
3. Global Electric Power Steering Market Landscape
3.1. Market Share Analysis
3.2. Comparative Analysis
3.2.1.

Product Benchmarking

3.2.2.

End user profiling

3.2.3.

Patent Analysis

3.2.4.

Top 5 Financials Analysis

4. Global Electric Power Steering Market Forces

4.1. Market Drivers
4.2. Market Constraints
4.3. Market Challenges
4.4. Attractiveness of the Electric Power Steering Industry
4.4.1.

Power of Suppliers

4.4.2.

Power of Customers

4.4.3.

Threat of New entrants

4.4.4.

Threat of Substitution

4.4.5.

Degree of Competition

5. Global Electric Power Steering Market Strategic Analysis

5.1. Value Chain Analysis
5.2. Pricing Analysis
5.3. Opportunities Analysis
5.4. Product/Market Life Cycle Analysis

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5.5. Suppliers and Distributors

6. Electric Power Steering Market by Type
6.1. Introduction
6.2. Electric powered hydraulic steering
6.3. Electric powered steering systems
6.3.1.

Column drive electric power steering

6.3.2.

Pinion drive electric power steering

6.3.3.

Dual point pinion electric power steering

6.3.4.

Rack drive electric power steering

6.3.5.

Direct drive electric power steering

7. Electric Powered Steering Market by System Components

7.1. Steering wheel
7.2. Steering angle sensor
7.3. Steering column
7.4. Steering moment sensor
7.5. Steering gear
7.6. Steering motor
7.7. Steering hoses
7.8. Power steering control unit
8.

Electric Power Steering Market by Vehicle Type

8.1. Introduction
8.2. Passenger
8.3. Commercial
8.4. Light Commercial Vehicle
8.5. Sports Vehicles

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8.6. Others
9. Electric Power Steering Market - Geographic Analysis
9.1. Introduction
9.2. Americas
9.2.1.

North America

9.2.2.

Brazil

9.2.3.

Argentina

9.2.4.

Mexico

9.3. Europe
9.3.1.

UK

9.3.2.

France

9.3.3.

Germany

9.4. APAC
9.4.1.

China

9.4.2.

South Korea

9.4.3.

Japan

9.4.4.

Australia

9.5. ROW
10. Market Entropy
10.1.

New Product Launches

10.2.

M&As, Collaborations, JVs and Partnerships

11. Company Profiles (Overview, Financials, SWOT Analysis, Developments, Product Portfolio)
11.1.

Delphi Automotive LLP

11.2.

Federal Mogul Corporation

11.3.

Hitachi Automotive Systems

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11.4.

Hyundai Mobis Co., Ltd.

11.5.

Martinrea International Inc.

11.6.

Mitsubishi Electric Corporation

11.7.

Trelleborg

11.8.

Robert Bosch GmbH

11.9.

China Automotive Systems Inc.

11.10. JTEKT Corporation

11.11. Mando Corporation
11.12. Nexteer Automotive
11.13. NSK Ltd.
11.14. Showa Corporation
11.15. Sona Koyo Steering Systems
11.16. ThyssenKrupp AG
11.17. TRW Automotive
11.18. ZF Friedrichshafen AG
11.19.

Zhejiang Wanda Steering Gear Co., Ltd

11.20. Hubei Tri-Ring Motor Steering Gear Co., Ltd.

11.21. Guangzhou SHOWA Absorber Limited Company
11.22. Jiangmen Xingjiang Steering Gear Co., Ltd.
11.23. FAW Koyo Steering Systems Co., Ltd.
11.24. AVIC-Xihang Yubei Steering System Co., Ltd.
11.25. Tianjin Jinfeng Automobile Chassis Parts Co., Ltd.
11.26. Zhejiang Fulin Guorun Auto Parts Co., Ltd.
11.27. Golden Company
11.28. Chongqing Changfeng Machinery Co., Ltd.

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11.29. Anhui Finetech Machinery Co., Ltd

11.30. Hafei Industrial Group Automobile Redirector Obligate Co., Ltd.
12. Appendix
12.1.

Abbreviations

12.2.

Sources

12.3.

Research Methodology

12.4.

Bibliography

12.5.

Compilation of Expert Insights

12.6.

Disclaimer

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LIST OF TABLES
Table 1 Global EPS Market, List of Companies Covered
Table 2 Global EPS Market Competitive Share Analysis, 2014 (%)
Table 3 Top 5 Market Players Financials Analysis
Table 4 Global EPS Market Revenue, By Type, 2014 2020 ($M)
Table 5 Global EPS Market Volume, By Type, 2014 2020 (Units)
Table 6 Global EPS Market Revenue, By System Components, 2014 2020 ($M)
Table 7 Global EPS Market Volume, By System Components, 2014 2020 (Units)
Table 8 Global EPS Market Pricing Analysis, By Types, 2014 2020 ($M)
Table 9 Average Selling Price Analysis, By Sensors used in EPS, 2014 2020 ($)
Table 10 Global EPS Market Revenue, By Vehicle Type, 2014 2020 ($M)
Table 11 Global EPS Market Volume, By Vehicle Type, 2014 2020 (Units)
Table 12 Global Electric powered hydraulic steering Market Revenue, By Vehicle Type, 2014
2020 ($M)
Table 13 Global Electric powered hydraulic steering Market Volume, By Vehicle Type, 2014
2020 (Units)
Table 14 Global Column drive electric power steering Market Revenue, By Vehicle Type,
2014 2020 ($M)
Table 15 Global Column drive electric power steering Market Volume, By Vehicle Type,
2014 2020 (Units)
Table 16 Global Pinion drive electric power steering Market Revenue, By Vehicle Type, 2014
2020 ($M)
Table 17 Global Pinion drive electric power steering Market Volume, By Vehicle Type, 2014
2020 (Units)
Table 18 Global Dual point pinion electric power steering Market Revenue, By Vehicle Type,
2014 2020 ($M)
Table 19 Global Dual point pinion electric power steering Market Volume, By Vehicle Type,
2014 2020 (Units)
Table 20 Global Rack drive electric power steering Market Revenue, By Vehicle Type, 2014
2020 ($M)
Table 21 Global Rack drive electric power steering Market Volume, By Vehicle Type, 2014
2020 (Units)
Table 22 Global Direct drive electric power steering Market Revenue, By Vehicle Type, 2014
2020 ($M)
Table 23 Global Direct drive electric power steering Market Volume, By Vehicle Type, 2014
2020 (Units)
Table 24 Americas EPS Market Revenue, By Type, 2014 2020 ($M)
Table 25 Americas EPS Market Volume, By Type, 2014 2020 (Units)

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Table 26 Americas EPS Market Revenue, By System Components, 2014 2020 ($M)
Table 27 Americas EPS Market Volume, By System Components, 2014 2020 (Units)
Table 28 Americas EPS Market Volume, By Vehicle Type, 2014 2020 (Units)
Table 29 Americas EPS Market Revenue, By Vehicle Type, 2014 2020 ($M)
Table 30 Americas EPS Market Revenue, By Country, 2014 2020 ($M)
Table 31 Americas EPS Market Volume, By Country, 2014 2020 (Units)
Table 32 Europe EPS Market Revenue, By Type, 2014 2020 ($M)
Table 33 Europe EPS Market Volume, By Type, 2014 2020 (Units)
Table 34 Europe EPS Market Revenue, By System Components, 2014 2020 ($M)
Table 35 Europe EPS Market Volume, By System Components, 2014 2020 (Units)
Table 36 Europe EPS Market Revenue, By Vehicle Type, 2014 2020 ($M)
Table 37 Europe EPS Market Volume, By Vehicle Type, 2014 2020 (Units)
Table 38 Europe EPS Market Revenue, By Country, 2014 2020 ($M)
Table 39 Europe EPS Market Volume, By Country, 2014 2020 (Units)
Table 40 APAC EPS Market Revenue, By Type, 2014 2020 ($M)
Table 41 APAC EPS Market Volume, By Type, 2014 2020 (Units)
Table 42 APAC EPS Market Revenue, By System Components, 2014 2020 ($M)
Table 43 APAC EPS Market Volume, By System Components, 2014 2020 (Units)
Table 44 APAC EPS Market Revenue, By Vehicle Type, 2014 2020 ($M)
Table 45 APAC EPS Market Volume, By Vehicle Type, 2014 2020 (Units)
Table 46 APAC EPS Market Revenue, By Country, 2014 2020 ($M)
Table 47 APAC EPS Market Volume, By Country, 2014 2020 (Units)
Table 47 U.S. EPAS Market Revenue, By Vehicle Type, 2014 2020 ($M)
Table 48 U.S. EPAS Market Volume, By Vehicle Type, 2014 2020 (Units)
Table 49 U.S. HPAS Market Revenue, By Vehicle Type, 2014 2020 ($M)
Table 50 U.S. HPAS Market Volume, By Vehicle Type, 2014 2020 (Units)
Table 51 CANADA EPAS Market Revenue, By Vehicle Type, 2014 2020 ($M)
Table 52 CANADA EPAS Market Volume, By Vehicle Type, 2014 2020 (Units)
Table 53 CANADA HPAS Market Revenue, By Vehicle Type, 2014 2020 ($M)
Table 54 CANADA HPAS Market Volume, By Vehicle Type, 2014 2020 (Units)
Table 55 APAC EPAS Market Revenue, By Vehicle Type, 2014 2020 ($M)
Table 56 APAC EPAS Market Volume, By Vehicle Type, 2014 2020 (Units)
Table 57 APAC HPAS Market Revenue, By Vehicle Type, 2014 2020 ($M)
Table 58 APAC HPAS Market Volume, By Vehicle Type, 2014 2020 (Units)
Table 59 EUROPE EPAS Market Revenue, By Vehicle Type, 2014 2020 ($M)
Table 60 EUROPE EPAS Market Volume, By Vehicle Type, 2014 2020 (Units)

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Table 61 EUROPE HPAS Market Revenue, By Vehicle Type, 2014 2020 ($M)
Table 62 EUROPE HPAS Market Volume, By Vehicle Type, 2014 2020 (Units)
Table 63 M&A, JV, Agreements, EPS Industry

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REPORT SCOPE
To provide a complete analysis of the global Electric Power Steering (EPS) market, it has been
divided into sub-categories depending on the various end-user applications of these systems, the
different types of EPS currently available, the passenger-vehicle and the commercial-vehicle
segments of the market. This report attempts to analyze the current market trends in place as
well as the future scope for development in this growing market and the challenges that need to
be addressed.
The global market for EPS is on the rise, so we have made an analysis on the current market
players and their presence in the market. The demand for EPS has shown a steady increase, all
over the world, especially with an increased emphasis on safety and comfort nowadays.
Traditionally, these systems were associated with the high-end automotive segment, but market
trends off late have shown a marked rise in the use of these systems in the middle and lower
level automotive segments as well.
A geographical analysis has been done to put things into perspective about the global market.
Competitive landscape for each of the product types is highlighted and market players are
profiled with attributes of company overview, financial overview, business strategies, product
portfolio and recent developments. Market shares of the key players for 2014 are provided. The
prominent players profiled in this report are TRW, Nexteer Automotive, Trelleborg, Mitsubishi
and others.
The report contains the most detailed and in-depth segmentation of the electric power steering
market.

STAKEHOLDERS
Following are the key stakeholders in the global EPS market.
Automotive OEMs
EPS Manufacturers
Sensor Manufacturers
Contract manufacturer
Electronics Providers
Distributors

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Component suppliers
System integrators
IT and Automation Software Providers
Engineering and Designing companies

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EXECUTIVE SUMMARY
Electric power steering (EPS) uses an electric motor to assist during the driving of a vehicle.
Sensors detect the position and torque of the steering column, and a computer module applies
assistive torque via the motor, which connects to either the steering gear or steering column.
Passenger, commercial, light commercial vehicle, sports cars are the different end-user segments
of EPS. Manual, hydraulic and electric powered steering systems are the key electric power
steering types present in the market currently. Electric steering systems are mechanically less
complex with fewer moving parts and no fluids. It is, hence, more reliable as well as simpler for
the OEMs and customers too. Fuel economy is the biggest benefit to the end customers due to
EPS and is the major driver for this market growth. It is estimated that significant fuel savings of
around 0.3-0.4 liters/100km along with reduction in CO2 emissions of 5-7g/km can be attained
due to EPS. With electric cars growing in shipments and offering competition to fuel-based cars,
EPS systems are the key factors, especially for traditional automotive OEMs to prolong their
business. model.

SAMPLE TABLE: GLOBAL POWER STEERING MARKET REVENUE, BY

PRODUCT TYPES, 2014 2020 ($BN)
Product Type

2014

2015

2016

Manual Steering
xx
xx
Hydraulic Steering
xx
xx
Electrically Assisted
xx
xx
Powered Steering
Electric Powered
xx
xx
Hydraulic Steering
Total
xx
xx
Source: IndustryARC Analysis, Expert Insights

2017

2018

2019

2020

CAGR
(2015 2020)
%

xx
xx
xx

xx
xx
xx

xx
xx
xx

xx
xx
xx

xx
xx
xx

xx%
xx%
xx%

xx

xx

xx

xx

xx

xx%

xx

xx

xx

xx

xx

xx%

IndustryARC forecasts the overall shipments of EPS in automotives to double from around 41
million units in 2014 to around 91 million units in 2020. The combined automotive steering and
suspension systems market revenue was around $12 billion in the U.S. in 2013 and is estimated
to grow at a CAGR of 2.5% till 2020.

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SAMPLE GRAPH: GLOBAL ELECTRIC POWER STEERING (EPS) MARKET

SHIPMENTS, 2013 2018 (MILLION UNITS)
100
90
80
Million Units

70
60
50
40
30
20
10
0
2013

2014

2015

2016

2017

2018

Source: IndustryARC Analysis, Expert Insights

Power steering systems use ECUs, torque sensors, brushless motor position sensors, motors,
and steering angle sensors generally. The report describes the Electric Power Steering market by
product types, modules, fuel types, components, geography, and industry verticals. High level
analysis about the individual Electric Power Steering product costs, strategies, future
opportunities along with the business landscape analysis of key market players are focused in the
report.

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4. GLOBAL ELECTRIC POWER STEERING- MARKET FORCES

4.1. MARKET DRIVERS
4.1.1. Growth of Automotive Industry Natural Growth Driver for Electric Power Steering

Market
The production and order levels of the different types of steering systems and specifically EPS
are directly related to the automotive market demand. China, U.S. and Japan were the top three
regions in 2013 with highest car sales and by 2016 India is expected to replace Japan.

SAMPLE FIGURE: GLOBAL PASSENGER CAR SALES, 2013 2018 (MILLION

UNITS)
120

Million Units

100
80
60
40
20
0
2013

2014

2015

2016

2017

2018

Source: IndustryARC Analysis, OICA

Growth of the overall passenger car sales has been influenced by a variety of factors like
subsidies for electric cars, demand for compact cars and incorporation of connectivity and safety
solutions in the passenger cars by automotive OEMs. The overall market sales are estimated to
increase from around 80 million units in 2013 to cross 100 million units by 2018. Increasing car
sales coupled with the increasing amount of sensors and electronic components in the cars will
be the biggest growth driver for the global electric power steering market ecosystem according to
IndustryARC.

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KEY MARKET INSIGHTS

Ford to launch the new Ford F-150 on January 6, 2015 at CES. The F-150 is the
smartest and has the most capable pickup with electric power steering facility

The newly released Lexus LS460 is enabled with electric power steering

Hyundai launched a new wear app, where a car can be controlled using a smartwatch.
This new Android Wear version will be later upgraded with more features such as Tire
Pressure monitoring, Telematics unit and Electronic power steering

The latest supercar Broon F8 is designed for under 5 years old kids, which is fully
enabled with android features and also includes electric power steering feature

Shipments of EPS are expected to increase from around 40 million units in 2013 to
around 87 million units in 2018.

Significant fuel savings of around 0.3-0.4 liters/100km along with reduction in CO2
emissions of 5-7g/km can be realized due to EPS.

The combined automotive steering and suspension systems were $11.5 billion market in
the US for 2013 and is growing at a CAGR of 2.5% till 2020.

Nisaan to release Juke Nismo RS, which will feature an upgraded engine, retuned
suspension, revised electric power steering system, beefier brakes and Recaro sport seats

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RESEARCH METHODOLOGY
The quantitative and qualitative data collected for the global electric power steering systems is
from a combination of secondary and primary sources. Research interviews were conducted with
senior executives and/or managers of leading EPS and other steering system type manufacturers
& assembly companies. These Key Opinion Leaders (KOLs) were then provided with a
questionnaire to gather quantitative and qualitative inputs on their operations, performance,
strategies and views on the overall market, including key developments and technology trends.
Data from interviews is consolidated, checked for consistency and accuracy, and the final market
numbers are again validated by experts. The global market was split by products and geography
based on different factors like primary and secondary sources, understanding of the number of
companies operating in each segment and also KOL insights.
We have used various secondary sources such as directories, articles, white papers, newsletters,
annual reports and paid databases such as OneSource, Hoovers and Factiva to identify and
collect information for extensive technical and commercial study of the EPS market.
The key players in the market and its value chain were identified through secondary research and
their market opinions were also gathered in a similar way through telephonic interviews and
questionnaires. We have also studied the annual reports of these top market players. Interviews
with key opinion leaders such as directors, managers, marketing personnel were used extensively
in understanding the need and emergence of the global EPS market.
Some of the key public databases and sources used for this report are:
International Organization of Motor Vehicle Manufacturers (OICA)
Alliance of Automobile Manufacturers (AAM)
China Association of Automobile Manufacturers
Canadian Vehicle Manufacturers Association
Society of Motor Manufacturers and Traders (SMMT)

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THE ARC ADVANTAGE

An analytical model lies at the core of our process, ensuring logical consistency
throughout our research. We complement the model with secondary data and
interviews with industry experts to reflect the latest trends. With our final expert
validation, we provide you with only the most accurate and actionable intelligence.

THE ARC PROCESS

Analytical
Method
1. Granular
breakdown of
drivers into
factors
2. Validate all
factors in terms
of their present
impact on the
market
3. Assign weights
to these factors in
terms of their
relevance and
impact on the
market
4. Build the
Analytical Model
ANALYTICAL MODEL

Base Method

1. Get a topdown estimate of

the market
2. Follow it up
with a bottom-up
estimate of the
market
3. Check
forconsistency
and new growth
factors that are
relevant over the
next 10 Years

4. Build the Base

model
BASE MODEL

Consolidation
Method
1. Granular
breakdown of
drivers into
factors
2. Validate all
factors in terms
of their present
impact on the
market.
3. Assign weights
to these factors in
terms of their
relevance and
impact on the
market.
4. Build the
Consolidated
Model

Delphi
Verification
1. Verify the
findings of the
model with
experts from
across the value
chain
2. Verify the
findings with
players across
small and large
enterprises
3. Tweak the
model and add
new factors
4. Finalize the
ARC Model

CONSOLIDATED MODEL

ARC MODEL

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ABOUT US
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extensively experienced industry veterans across various business segments. Our focus and
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goal is to provide accurate and affordable research to our clients.
Our research team has expertise in diverse fields like Automotive, Chemicals, Consumer
Product & Services, Electronics, Food & Beverages, Healthcare etc., However diverse the
expertise maybe, everyone in our team shares one common trait - we love data and we love
providing solutions to clients using that data even more! Seeing your business flourish
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