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Middle East and Africa 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))

Code: TIPRE00018164 | Pages: 119 | Industry: Automotive and Transportation | Date: Jan 2021
Covid

Market Introduction

The region is expected to see a rapid rise in marketing and industrialization, which would further boost the diverse industries. The Gulf countries are economically advanced, while the African countries still have to balance the economic conditions of the Gulf countries. Factors such as growing passenger and commercial vehicles on the road, and automated technologies integrated within the vehicles, are positively impacting the EPS market. In 2019, the production of vehicles in Africa accounted for 1,102,036 units. The growth in vehicle production, growing disposable income, and rising demand for the EPS are driving the market growth in the MEA. The governments of several countries in the region have realized the importance of the automotive industry and are taking initiatives to support and enhance the growth of the automotive manufacturing industry in the region. For instance, the Government of South Africa launched South African Automotive Master plan (SAAM) that aims to broaden and deepen the local value chains. Additionally, the automotive manufacturers in South Africa are focusing on strengthening their position in the country. Also, recent movement towards vehicle electrification is driving the MEA electronic power steering market.

Also the ongoing COVID-19 pandemic is affecting the MEA region very badly. Among the MEA countries, South Africa has faced the highest COVID-19 cases. Other significant countries facing the economic impact of COVID-19 include Iran, Turkey, Saudi Arabia, Israel, Morocco, UAE, Qatar, Kuwait, Oman, and Egypt. The region comprises many growing economies such as UAE and Saudi Arabia, among others, which are prospective markets for electronic power steering providers, owing to the huge presence of diverse customer base for the automotive and transportation sectors. The COVID-19 pandemic would have significant effects on economies, but the region has negatively impacted as there is already pressure on the economy of various oil-based countries due to falling oil prices. In addition to this, the factory lockdowns, business shutdowns, and travel bans are further aggravating the economic problems of the countries in the MEA. Hence, the estimated decline in the region’s economic condition and impact of COVID-19 on the growth of various industries in the region is expected to negatively impact the development of the electronic power steering market in 2020 and 2021.    

Market Overview and Dynamics

The electronic power steering market in MEA is expected to grow from US$ 1,599.45 million in 2019 to US$ 1,521.65 million by 2027; it is estimated to grow at a CAGR of 2.7% from 2020 to 2027. Rising adoption of autonomous driving worldwide is one of the major factors boosting the adoption of steer-by-wire systems in the vehicles. SbW is enhancing the driving experience as well as safety. The SbW technology is currently experiencing a constant surge in development as well as demand. The higher levels of autonomous driving require uninterrupted communication, redundant power supply, and steering rack. Additionally, the OEMs are focusing on removing the mechanical components to have more flexibility in designing the vehicle interior and engine compartment. The vehicles can be steered from anywhere inside the vehicle with the help of SbW. In addition, there is no requirement of designing and producing the different versions for right and left-hand drive. With the integration of SbW, the direct mechanical link to the road is removed, and the vehicle interior is decoupled acoustically. Moreover, the SbW enhances the safety with the help of driver assistance systems. It also eliminates the intermediate steering shaft and thus, reduces the risk of injury to the driver from mechanical steering components by augmenting the passive safety in the vehicle.

Key Market Segments

In terms of type, the R-EPS segment led the MEA electronic power steering market in 2019. In terms of application, passenger cars segment led the MEA 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 MEA are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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 MEA 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 MEA electronic power steering market
  • Efficiently plan M&A and partnership deals in MEA 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 MEA electronic power steering market
  • Obtain market revenue forecast for electronic power steering market by various segments from 2020-2027 in MEA region.

MEA Electronic Power Steering Market Segmentation

MEA 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)

MEA Electronic Power Steering Market - By Application

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

MEA Electronic Power Steering Market - By Country

  • South Africa
  • Rest of MEA

MEA Electronic Power Steering Market - Company Profiles

  • JTEKT Corporation
  • Mando Corporation
  • Mitsubishi Electric Corporation
  • Nexteer Automotive
  • NSK Ltd.
  • Robert Bosch GmbH
  • SHOWA CORPORATION
  • thyssenkrupp AG
  • ZF Friedrichshafen AG
 

TABLE OF CONTENTS

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

1.3.1        MEA Electronic Power Steering Market – By Type

1.3.2        MEA Electronic Power Steering Market – By Application

1.3.3        MEA Electronic Power Steering Market – By Country

2.           Key Takeaways

3.           Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           MEA Electronic Power Steering (EPS) Market Landscape

4.1         Market Overview

4.2         MEA PEST Analysis

4.3         Ecosystem Analysis

4.4         Expert Opinion

5.           MEA Electronic Power Steering (EPS) –Market Dynamics

5.1         Market Drivers

5.1.1        Soaring Fuel-efficient Vehicles Necessity

5.1.2        Propelling Steer-by-Wire (SbW) Technology Adoption

5.2         Market Restraints

5.2.1        Exorbitant Cost of Electronic Power Steering (EPS)

5.3         Market Opportunities

5.3.1        Movement Towards Vehicle Electrification

5.4         Future Trends

5.4.1        New innovation in self-driving vehicles

5.5         Impact Analysis of Drivers and Restraints

6.           Electronic Power Steering (EPS) –MEA Market Analysis

6.1         MEA Electronic Power Steering (EPS) Market Overview

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

6.3         Market Positioning – Market Players Ranking

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

7.1         Overview

7.2         MEA Electronic Power Steering (EPS) Market Breakdown, By Type, 2018 & 2027

7.3         Column Assisted Electronic Power Steering(C-EPS)

7.3.1        Overview

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

7.4         Pinion Assisted Electronic Power Steering (P-EPS)

7.4.1        Overview

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

7.5         Rack Assisted Power Steering System (R-EPS)

7.5.1        Overview

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

7.6         Electronic Hydraulic Power Steering (E-HPS)

7.6.1        Overview

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

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

8.1         Overview

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

8.3         Light Commercial Vehicles (LCV)

8.3.1        Overview

8.3.2        Light Commercial Vehicles (LCV) Market Forecast and Analysis

8.4         Passenger Cars

8.4.1        Overview

8.4.2        Passenger Cars Market Forecast and Analysis

8.5         Heavy Commercial Vehicles (HCV)

8.5.1        Overview

8.5.2        Heavy Commercial Vehicles (HCV) Market Forecast and Analysis

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

9.1         Overview

9.1.1        MEA: Electronic Power Steering (EPS) Market, By Country

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

9.1.1.1.1          South Africa: Electronic Power Steering (EPS) Market, By Type

9.1.1.1.2          South Africa: Electronic Power Steering (EPS) Market, By Application

9.1.1.2          Rest of MEA: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)

9.1.1.2.1          Rest of MEA: Electronic Power Steering (EPS) Market, By Type

9.1.1.2.2          Rest of MEA: Electronic Power Steering (EPS) Market, By Application

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

10.1      MEA : Impact Assessment of COVID-19 Pandemic

11.        Industry Landscape

11.1      Overview

11.2      New Product Development

12.        Company Profiles

12.1      JTEKT Corporation

12.1.1     Key Facts

12.1.2     Business Description

12.1.3     Products and Services

12.1.4     Financial Overview

12.1.5     SWOT Analysis

12.1.6     Key Developments

12.2      Mitsubishi Electric Corporation

12.2.1     Key Facts

12.2.2     Business Description

12.2.3     Products and Services

12.2.4     Financial Overview

12.2.5     SWOT Analysis

12.2.6     Key Developments

12.3      Nexteer Automotive

12.3.1     Key Facts

12.3.2     Business Description

12.3.3     Products and Services

12.3.4     Financial Overview

12.3.5     SWOT Analysis

12.3.6     Key Developments

12.4      NSK Ltd.

12.4.1     Key Facts

12.4.2     Business Description

12.4.3     Products and Services

12.4.4     Financial Overview

12.4.5     SWOT Analysis

12.4.6     Key Developments

12.5      Robert Bosch GmbH

12.5.1     Key Facts

12.5.2     Business Description

12.5.3     Products and Services

12.5.4     Financial Overview

12.5.5     SWOT Analysis

12.5.6     Key Developments

12.6      Showa Corporation

12.6.1     Key Facts

12.6.2     Business Description

12.6.3     Products and Services

12.6.4     Financial Overview

12.6.5     SWOT Analysis

12.6.6     Key Developments

12.7      The Mando Corporation

12.7.1     Key Facts

12.7.2     Business Description

12.7.3     Products and Services

12.7.4     Financial Overview

12.7.5     SWOT Analysis

12.7.6     Key Developments

12.8      ThyssenKrupp AG

12.8.1     Key Facts

12.8.2     Business Description

12.8.3     Products and Services

12.8.4     Financial Overview

12.8.5     SWOT Analysis

12.8.6     Key Developments

12.9      ZF Friedrichshafen AG

12.9.1     Key Facts

12.9.2     Business Description

12.9.3     Products and Services

12.9.4     Financial Overview

12.9.5     SWOT Analysis

12.9.6     Key Developments

13.        Appendix

13.1      About The Insight Partners

             13.2      Word Index

LIST OF TABLES

Table 1.             MEA Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 US$ Mn)

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

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

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

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

LIST OF FIGURES

Figure 1.           MEA Electronic Power Steering (EPS) Market Segmentation

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

Figure 3.           MEA Electronic Power Steering (EPS) - Market Overview

Figure 4.           MEA Electronic Power Steering (EPS) Market by Type

Figure 5.           MEA Electronic Power Steering (EPS) Market by Application

Figure 6.           MEA Electronic Power Steering (EPS) Market by Country

Figure 7.           MEA: PEST Analysis

Figure 8.           Ecosystem Analysis

Figure 9.           Expert Opinion

Figure 10.        MEA Electronic Power Steering (EPS) Market Impact Analysis of Drivers and Restraints

Figure 11.        MEA : Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)

Figure 12.        MEA Electronic Power Steering (EPS) Market Breakdown, By Type, 2018 & 2027 (%)

Figure 13.        MEA Column Assisted Electronic Power Steering(C-EPS) Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 14.        MEA Pinion Assisted Electronic Power Steering (P-EPS) Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 15.        MEA Rack Assisted Power Steering System (R-EPS) Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 16.        MEA Electronic Hydraulic Power Steering (E-HPS) Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 17.        MEA Electronic Power Steering (EPS) Market Breakdown, By Application, 2019 & 2027 (%)

Figure 18.        MEA Light Commercial Vehicles (LCV) Market Revenue and Forecast to 2027 (US$ Mn)

Figure 19.        MEA Passenger Cars Market Revenue and Forecast to 2027 (US$ Mn)

Figure 20.        MEA Heavy Commercial Vehicles (HCV) Market Revenue and Forecast to 2027 (US$ Mn)

Figure 21.        MEA: Electronic Power Steering (EPS) Market Revenue Share, By Country (2019 and 2027)

Figure 22.        South Africa: Electronic Power Steering (EPS) Market – Revenue and Forecast to 2027 (US$ Million)

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

Figure 24.          Impact of COVID-19 Pandemic in Middle East and Africa Country Markets

Some of the leading companies are:

  1. JTEKT Corporation
  2. Mando Corporation
  3. Mitsubishi Electric Corporation
  4. Nexteer Automotive
  5. NSK Ltd.
  6. Robert Bosch GmbH
  7. SHOWA CORPORATION
  8. thyssenkrupp AG
  9. ZF Friedrichshafen AG
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the MEA electronic power steering market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the MEA electronic power steering market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the electronic power steering market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

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