Europe Electronic Power Steering Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type (Column Assisted Electronic Power Steering(C-EPS), Pinion Assisted Electronic Power Steering (P-EPS), Rack Assisted Power Steering System (R-EPS), and Electronic Hydraulic Power Steering (EHPS)), and Application (Light Commercial Vehicles (LCV), Passenger Cars, and Heavy Commercial Vehicles (HCV))

Name: Europe Electronic Power Steering Market
SKU: Automotive and Transportation
Rating: 4.9 (15 reviews)

Market Introduction

The integration of IoT in the cars is the next big digital development that persists in the automotive industry. This fact will result in bringing another revolution via the introduction of autonomous vehicles. The self-driving cars/autonomous vehicles that integrates an EPS system to further boost the driving experience of the driver. The quick development of connected cars offers opportunities to both the automotive industry and tech companies. The factor described above of autonomous vehicles is projected to contribute towards the use of EPS in the vehicles. Furthermore, the growing middle-class income group, especially in several fast-growing economies, also has impacted the market growth and provide various profitable business opportunities for the market players. Thus, the EPS market is poised to offer several profitable business market opportunities for market players during the coming years. The growth of the automotive sales continues to play a substantial crucial role in the growth of the Europe market during the past years and is projected to remain significant factor in powering the system demand in the coming years. In addition to this, the significant presence of existing number of passenger vehicles and commercial vehicles across Europe is also expected to provide a steady business growth opportunity for the market players across the developed economies through aftermarket sales and distribution networks. Also, as the economic conditions as well as several automotive OEMs witnessed a disruption in their business conditions following the outbreak of COVID-19 during the early months of 2020. Also, Steer-by-Wire (SbW) technology being adopted in Europe is driving the Europe electronic power steering market.

Also, the ongoing COVID-19 pandemic is having a bad impact over the Europe region. Due to COVID-19 outbreak, Spain, Italy, Germany, UK, and France are some of the worst affected member states in the European region. Businesses in the region are facing severe financial difficulties as they either had to suspend their operations or reduce their activities in a substantial manner. Due to business lockdowns, travel bans, and supply chain disruptions, the region is anticipated to see an economic slowdown in 2020 and most likely in 2021 also. The entire region is heavily hit by the COVID-19 which has resulted into closure of tech giants and many industrial sector. This closure has obstructed the company’s investment decision on different software. The region is a major manufacturing and industrial hub for various sectors such as machinery equipment, manufacturing, and logistics. However, due to business lockdowns, travel bans, and supply chain disruptions, the region has witnessed decline in activities in above-mentioned industries. Decline in activities of above-mentioned industries has resulted into lesser development of electronic power steering market.

The electronic power steering market in Europe is expected to grow from US$ 12,256.23 million in 2019 to US$ 12387.43 million by 2027; it is estimated to grow at a CAGR of 3.2% from 2020 to 2027. The automotive manufacturers, along with tech companies, are robustly focusing on the development of sophisticated technologies that permit the automobiles to drive themselves. In the race of testing self-driving vehicles, Google is among the leading players, followed by Toyota, Audi, and Mercedes-Benz. Additionally, the Institute of Electrical and Electronics Engineers forecasts that the self-driving vehicles are anticipated to account for up to 75% of vehicles on the road by 2040. The self-driving car industry is projected to benefit the car-sharing services, such as taxi services, Zipcar, public transportation, and rental car companies. Self-driving vehicles are robustly demanding the integration of electronic power steering (EPS) and creating huge opportunity for the EPS manufacturers to develop advanced systems.

Key Market Segments

In terms of type, the C-EPS segment led the Europe electronic power steering market in 2019. In terms of application, passenger cars segment led the Europe electronic power steering market in 2019.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the electronic power steering market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are HYUNDAI MOBIS, JTEKT Corporation, Mando Corporation, Mitsubishi Electric Corporation, Nexteer Automotive, NSK Ltd., Robert Bosch GmbH, SHOWA CORPORATION, thyssenkrupp AG, ZF Friedrichshafen AG.

Reasons to buy report

To understand the Europe electronic power steering market landscape and identify market segments that are most likely to guarantee a strong return
Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe electronic power steering market
Efficiently plan M&A and partnership deals in Europe electronic power steering market by identifying market segments with the most promising probable sales
Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe electronic power steering market
Obtain market revenue forecast for electronic power steering market by various segments from 2020-2027 in Europe region.

Europe Electronic Power Steering Market Segmentation

Europe Electronic Power Steering Market - By Type

Column Assisted Electronic Power Steering(C-EPS)
Pinion Assisted Electronic Power Steering (P-EPS)
Rack Assisted Power Steering System (R-EPS)
Electronic Hydraulic Power Steering (EHPS)

Europe Electronic Power Steering Market - By Application

Light Commercial Vehicles (LCV)
Passenger Cars
Heavy Commercial Vehicles (HCV)

Europe Electronic Power Steering Market - By Country

Europe Electronic Power Steering Market - Company Profiles

1. Introduction. 14

1.1 Study Scope. 14

1.2 The Insight Partners Research Report Guidance. 14

1.3 Market Segmentation. 16

1.3.1 Europe Electronic Power Steering Market – By Type. 18

1.3.2 Europe Electronic Power Steering Market – By Application. 18

1.3.3 Europe Electronic Power Steering Market – By Country. 18

2. Key Takeaways. 19

3. Research Methodology. 24

3.1 Coverage. 26

3.2 Secondary Research. 26

3.3 Primary Research. 27

4. Europe Electronic Power Steering (EPS) Market Landscape. 28

4.1 Market Overview.. 28

4.2 Europe PEST Analysis. 30

4.3 Ecosystem Analysis. 31

4.4 Expert Opinion. 32

5. Europe Electronic Power Steering (EPS) –Market Dynamics. 34

5.1 Market Drivers. 34

5.1.1 Fuel-Efficient Vehicles at Huge Demand. 34

5.1.2 Steer-by-Wire (SbW) Technology Being Adopted. 34

5.2 Market Restraints. 35

5.2.1 Electronic Power Steering (EPS) Being Costly. 35

5.3 Market Opportunities. 36

5.3.1 Latest Trend of Electrification of Vehicles. 36

5.4 Future Trends. 36

5.4.1 Self-Driving Vehicles Developing Fast 36

5.5 Impact Analysis of Drivers and Restraints. 37

6. Electronic Power Steering (EPS) – Europe Market Analysis. 38

6.1 Europe Electronic Power Steering (EPS) Market Overview.. 38

6.2 Europe Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 39

6.3 Market Positioning – Market Players Ranking. 40

7. Europe Electronic Power Steering (EPS) Market Analysis– By Type. 41

7.1 Overview.. 41

7.2 Europe Electronic Power Steering (EPS) Market Breakdown, By Type, 2018 & 2027. 41

7.3 Column Assisted Electronic Power Steering(C-EPS) 43

7.3.1 Overview.. 43

7.3.2 Column Assisted Electronic Power Steering(C-EPS) Market Revenue and Forecasts to 2027 (US$ Mn) 43

7.4 Pinion Assisted Electronic Power Steering (P-EPS) 45

7.4.1 Overview.. 45

7.4.2 Pinion Assisted Electronic Power Steering (P-EPS) Market Revenue and Forecasts to 2027 (US$ Mn) 45

7.5 Rack Assisted Power Steering System (R-EPS) 47

7.5.1 Overview.. 47

7.5.2 Rack Assisted Power Steering System (R-EPS) Market Revenue and Forecasts to 2027 (US$ Mn) 47

7.6 Electronic Hydraulic Power Steering (E-HPS) 49

7.6.1 Overview.. 49

7.6.2 Electronic Hydraulic Power Steering (E-HPS) Market Revenue and Forecasts to 2027 (US$ Mn) 49

8. Europe Electronic Power Steering (EPS) Market Analysis – By Application. 51

8.1 Overview.. 51

8.2 Europe Electronic Power Steering (EPS) Market Breakdown, By Application, 2019 & 2027 (%) 51

8.3 Light Commercial Vehicles (LCV) 53

8.3.1 Overview.. 53

8.3.2 Light Commercial Vehicles (LCV) Market Forecast and Analysis. 53

8.4 Passenger Cars. 54

8.4.1 Overview.. 54

8.4.2 Passenger Cars Market Forecast and Analysis. 54

8.5 Heavy Commercial Vehicles (HCV) 55

8.5.1 Overview.. 55

8.5.2 Heavy Commercial Vehicles (HCV) Market Forecast and Analysis. 55

9. Europe Electronic Power Steering (EPS) Market – Country Analysis. 56

9.1 Overview.. 56

9.1.1 Europe: Electronic Power Steering (EPS) Market, By Country. 57

9.1.1.1 Germany: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 58

9.1.1.1.1 Germany: Electronic Power Steering (EPS) Market, By Type. 59

9.1.1.1.2 Germany: Electronic Power Steering (EPS) Market, By Application. 59

9.1.1.2 France: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 60

9.1.1.2.1 France: Electronic Power Steering (EPS) Market, By Type. 61

9.1.1.2.2 France: Electronic Power Steering (EPS) Market, By Application. 62

9.1.1.3 Italy: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 63

9.1.1.3.1 Italy: Electronic Power Steering (EPS) Market, By Type. 64

9.1.1.3.2 Italy: Electronic Power Steering (EPS) Market, By Application. 64

9.1.1.4 UK: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 65

9.1.1.4.1 UK: Electronic Power Steering (EPS) Market, By Type. 66

9.1.1.4.2 UK: Electronic Power Steering (EPS) Market, By Application. 67

9.1.1.5 Russia: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 68

9.1.1.5.1 Russia: Electronic Power Steering (EPS) Market, By Type. 69

9.1.1.5.2 Russia: Electronic Power Steering (EPS) Market, By Application. 69

9.1.1.6 Rest of Europe: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 70

9.1.1.6.1 Rest of Europe: Electronic Power Steering (EPS) Market, By Type. 71

9.1.1.6.2 Rest of Europe: Electronic Power Steering (EPS) Market, By Application. 72

10. Europe Electronic Power Steering (EPS) Market- COVID-19 Impact Analysis. 73

10.1 Europe: Impact Assessment of COVID-19 Pandemic. 73

11. Industry Landscape. 75

11.1 Overview.. 75

11.2 Market Initiative. 75

11.3 New Product Development 76

12. Company Profiles. 77

12.1 Hyundai Mobis. 77

12.1.1 Key Facts. 77

12.1.2 Business Description. 77

12.1.3 Products and Services. 78

12.1.4 Financial Overview.. 79

12.1.5 SWOT Analysis. 82

12.1.6 Key Developments. 83

12.2 JTEKT Corporation. 84

12.2.1 Key Facts. 84

12.2.2 Business Description. 84

12.2.3 Products and Services. 85

12.2.4 Financial Overview.. 86

12.2.5 SWOT Analysis. 89

12.2.6 Key Developments. 90

12.3 Mitsubishi Electric Corporation. 91

12.3.1 Key Facts. 91

12.3.2 Business Description. 91

12.3.3 Products and Services. 92

12.3.4 Financial Overview.. 92

12.3.5 SWOT Analysis. 95

12.3.6 Key Developments. 95

12.4 Nexteer Automotive. 96

12.4.1 Key Facts. 96

12.4.2 Business Description. 96

12.4.3 Products and Services. 97

12.4.4 inancial Overview.. 98

12.4.5 SWOT Analysis. 101

12.4.6 Key Developments. 102

12.5 NSK Ltd. 103

12.5.1 Key Facts. 103

12.5.2 Business Description. 103

12.5.3 Products and Services. 104

12.5.4 Financial Overview.. 104

12.5.5 SWOT Analysis. 107

12.5.6 Key Developments. 108

12.6 Robert Bosch GmbH.. 109

12.6.1 Key Facts. 109

12.6.2 Business Description. 109

12.6.3 Products and Services. 110

12.6.4 Financial Overview.. 110

12.6.5 SWOT Analysis. 113

12.6.6 Key Developments. 114

12.7 Showa Corporation. 115

12.7.1 Key Facts. 115

12.7.2 Business Description. 115

12.7.3 Products and Services. 116

12.7.4 Financial Overview.. 117

12.7.5 SWOT Analysis. 118

12.7.6 Key Developments. 118

12.8 The Mando Corporation. 119

12.8.1 Key Facts. 119

12.8.2 Business Description. 119

12.8.3 Products and Services. 120

12.8.4 Financial Overview.. 120

12.8.5 SWOT Analysis. 121

12.8.6 Key Developments. 121

12.9 ThyssenKrupp AG.. 122

12.9.1 Key Facts. 122

12.9.2 Business Description. 122

12.9.3 Products and Services. 123

12.9.4 Financial Overview.. 123

12.9.5 SWOT Analysis. 126

12.9.6 Key Developments. 126

12.10 ZF Friedrichshafen AG.. 127

12.10.1 Key Facts. 127

12.10.2 Business Description. 127

12.10.3 Products and Services. 128

12.10.4 Financial Overview.. 128

12.10.5 SWOT Analysis. 131

12.10.6 Key Developments. 132

13. Appendix. 133

13.1 About The Insight Partners. 133

13.2 Word Index. 133

LIST OF TABLES

Table 1. Europe Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 US$ Million) 39

Table 2. Germany Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million) 59

Table 3. Germany Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million) 59

Table 4. France Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million) 61

Table 5. France Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million) 62

Table 6. Italy Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million) 64

Table 7. Italy Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million) 64

Table 8. UK Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million) 66

Table 9. UK Electronic Power Steering (EPS) Market, By Application– Revenue and Forecast to 2027 (US$ Million) 67

Table 10. Russia Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million) 69

Table 11. Russia Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million) 69

Table 12. Rest of Europe Electronic Power Steering (EPS) Market, By Type– Revenue and Forecast to 2027 (US$ Million) 71

Table 13. Rest of Europe Electronic Power Steering (EPS) Market, By Application – Revenue and Forecast to 2027 (US$ Million) 72

LIST OF FIGURES

Figure 1. Europe Electronic Power Steering (EPS) Market Segmentation. 16

Figure 2. Europe Electronic Power Steering (EPS) Market Segmentation – By Country. 17

Figure 3. Europe Electronic Power Steering (EPS) – Country Analysis. 19

Figure 4. Europe Electronic Power Steering (EPS) - Market Overview.. 20

Figure 5. Europe Electronic Power Steering (EPS) Market by Type. 21

Figure 6. Europe Electronic Power Steering (EPS) Market by Application. 22

Figure 7. Europe Electronic Power Steering (EPS) Market by Country. 23

Figure 8. Europe: PEST Analysis. 30

Figure 9. Ecosystem Analysis. 31

Figure 10. Expert Opinion. 33

Figure 11. Europe Electronic Power Steering (EPS) Market Impact Analysis of Drivers and Restraints. 37

Figure 12. Europe: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 39

Figure 13. Europe Electronic Power Steering (EPS) Market Breakdown, By Type, 2018 & 2027 (%) 42

Figure 14. Europe Column Assisted Electronic Power Steering(C-EPS) Market Revenue and Forecasts to 2027 (US$ Mn) 44

Figure 15. Europe Pinion Assisted Electronic Power Steering (P-EPS) Market Revenue and Forecasts to 2027 (US$ Mn) 46

Figure 16. Europe Rack Assisted Power Steering System (R-EPS) Market Revenue and Forecasts to 2027 (US$ Mn) 48

Figure 17. Europe Electronic Hydraulic Power Steering (E-HPS) Market Revenue and Forecasts to 2027 (US$ Mn) 50

Figure 18. Europe Electronic Power Steering (EPS) Market Breakdown, By Application, 2019 & 2027 (%) 52

Figure 19. Europe Light Commercial Vehicles (LCV) Market Revenue and Forecast to 2027 (US$ Mn) 53

Figure 20. Europe Passenger Cars Market Revenue and Forecast to 2027 (US$ Mn) 54

Figure 21. Europe Heavy Commercial Vehicles (HCV) Market Revenue and Forecast to 2027 (US$ Mn) 55

Figure 22. Europe: Electronic Power Steering (EPS) Market Revenue Share, By Country (2019 and 2027) 57

Figure 23. Germany: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 58

Figure 24. France: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 60

Figure 25. Italy: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 63

Figure 26. UK: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 65

Figure 27. Russia: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 68

Figure 28. Rest of Europe: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million) 70

Figure 29. Impact of COVID-19 Pandemic in Europe Country Markets. 74

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