Electric Power Assisted Steering (EPAS) Market by Type (Pinion Type EPAS, Rack Type EPAS, and Column Type EPAS), Application (Passenger Vehicle, Light Commercial Vehicle, and Heavy Commercial Vehicle)-Analysis & Forecast 2019-2030

Report ID : 263  |  Published Date : Jun 2020  |  Pages : 180  |  Region : Global  |  Report Code : AT-9

Electric Power Assisted Steering (EPAS) Market Introduction and Overview

Electric Power Assisted Steering (EPAS) is a vehicle driver assistance system that helps a driver to steer the vehicle easily by augmenting steering effort needed to turn steering wheels. The EPAS system mainly comprises of electric motor, torque & steering angle sensors, and Electronic Control Unit (ECU) that makes vehicle steering easy and effortless. The sensors of an EPAS system measure the position of steering wheels and the torque applied by the driver. This data is then fed to the ECU based on which, it commands electric motor to apply the desired torque and steers the vehicle in accordance with its speed. EPAS is an energy-efficient system that consumes energy only when the steering wheel is turned.

The global EPAS market is driven by factors, such as high demand for well-equipped vehicles, the growing overall automotive industry, advantages offered by EPAS over hydraulics-based steering systems, and increasing R&D activities of automakers aimed toward developing robust EPAS systems. Moreover, less energy consumption of EPAS system, a growing number of electric and auto-pilot enabled vehicles, and the increasing number of norms and mandates related to fuel-efficient technologies proposed by various governments are also contributing to growth of the EPAS market globally. However, the high cost of such mechanism, difficulties to diagnose failures in these systems, inability to rely on the system completely, and development of a substitute technology, Electro-Hydraulic Power Steering (EHPS) systems may affect the global market growth adversely.

The global EPAS market can be segmented into type, application, and regions.

Electric Power Assisted Steering (EPAS) Market By Type

Based on type, the global EPAS market can be segmented into pinion type EPAS, rack type EPAS, and column type EPAS. The column type EPAS segment dominated the market and is anticipated to dominate the market in the coming years. The surging growth of the segment is owing to low price of column type EPAS systems when compared with others, easy integration with the steering column, increased demand for electronic & fuel-efficient systems in passenger cars, and limited space requirements making this type ideal for compact vehicles.

Electric Power Assisted Steering (EPAS) Market By Application

Based on application, the EPAS market can be segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. The passenger vehicle segment dominated the global market and is expected to continue its dominance during the forecast period. The market growth can be attributed to the adoption of EPAS mechanism by passenger cars, increasing disposable income of middle-class consumers, and the growing number of electric cars across the globe.

Electric Power Assisted Steering (EPAS) Market By Region

Based on region, the global EPAS market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). Asia Pacific is expected to grow at the highest CAGR during the forecast period. The market growth in this region can be attributed to the growing automotive industry, especially in China and India. The high potential consumer base in the region is expected to further drive EPAS market growth during the forecast period.

Electric Power Assisted Steering (EPAS) Market Prominent Players

Some of the prominent players present in the EPAS market include Robert Bosch GmbH, JTEKT Corporation, DENSO CORPORATION, De Amertek Corporation, Nexteer, ZF Friedrichshafen AG, NSK Ltd, HYUNDAI MOBIS, SHOWA CORPORATION, and T