Global Automotive Electro-hydraulic Power Steering System Industry Overview
Automotive systems undergoing radical changes are vehicle infotainment systems, automotive telematics, safety features, automotive driver assist systems, and various powertrain and drivetrain systems. This, in turn, is driving the replacement of mechanical systems with advanced electronic systems consisting of integrated chips, sensors, cameras, transistors, and wiring harness within the vehicle. An upswing in the number of electronic features within modern automotive is expected to further boost the demand for improved power management. An automotive EHPS system is a hybrid steering system that combines the positive features of hydraulic steering systems, such as the natural smooth feel, and the fuel-efficient operations of the power steering systems, which draw power from the vehicle battery instead of the engine. Hence, the rising penetration of 48V electrical architecture in modern vehicles is expected to drive the adoption of automotive EHPS system during the forecast period.
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Companies covered
The automotive electro-hydraulic power steering system market is fragmented since the market has a number of companies. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this automotive electro-hydraulic power steering system industry analysis report will aid clients identify new growth opportunities and design new growth strategies.
The report offers a complete analysis of automotive electro-hydraulic power steering system manufacturers including:
- Bosch
- Continental
- JTEKT
- Nexteer Automotive
- ZF Friedrichshafen
Automotive electro-hydraulic power steering system market growth based on geographic region:
- Americas
- APAC
- EMEA
With a complete study of the growth opportunities for the companies across the Americas, APAC, and EMEA, our industry research analysts have estimated that countries in the Americas will contribute to the maximum growth of this automotive electro-hydraulic power steering system market throughout the predicted period.
Automotive electro-hydraulic power steering system market growth based on application
- Commercial vehicles
- Passenger cars
According to our market research experts, the commercial vehicles segment will account for the highest share of the market. However, passenger cars segment will register the maximum growth rate during the forecast period. Additionally, the report also provides an accurate prediction of the contribution of the various application segments to the growth of the automotive electro-hydraulic power steering system market size.
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Key highlights of the global automotive electro-hydraulic power steering system market for the forecast years 2019-2023:
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the automotive electro-hydraulic power steering system market during the next five years
- Precise estimation of the global automotive electro-hydraulic power steering system market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- Growth of the automotive electro-hydraulic power steering system industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive information about factors that will challenge the growth of automotive electro-hydraulic power steering system companies
This market research report analyzes the market outlook and provides a list of key trends, drivers, and challenges that are anticipated to impact the global automotive electro-hydraulic power steering system market and its stakeholders over the forecast years. The global automotive electro-hydraulic power steering system market analysts at Technavio have also considered how the performance of other related markets in the vertical will impact automotive electro-hydraulic power steering system market size till 2023.
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