Automotive Electric Power Steering Market: Futuristic Technologies Overview
Power steering is especially important for cars with engines in the front and a lot of weight on the front wheels. Sensors detect torque in the steering column while the computer module controls the electric motor, making EPS systems significantly reliable and convenient. Hence, they make an attractive proposition for the automotive industry, enabling growth for the EPS market. As per Inkwood Research, the global automotive electric power steering market is set to propel with a 4.26% CAGR by 2030 and is expected to generate a revenue of $57.18 billion during the forecast period, 2022-2030.
Electric power steering (EPS) is a system that helps steer the wheels with an additional power source other than the driver’s manual force with which he turns the steering. This feature adds to the driving comfort as less effort is needed to turn the steering. Additionally, EPS systems eliminate drive belts, pumps, and hoses connected to the engine with variable power intensity. The configuration of EPS systems allows power assist systems to be incorporated into the steering column or the rack and pinion steering gear.
Further, conventional hydraulic steering systems require frequent changing of hydraulic fuel. Other components such as the steering pump, hydraulic fluid, rotary valve, steering fluid reservoir, and hydraulic chamber must be monitored. Therefore, problems may arise in a hydraulic system because of multiple components and the complexity of the design.
Hydraulic v/s Electric: The New-Age Power Steering Solution
Electric power steering (EPS) provides an extra steering force to the passenger as well as commercial cars with an electrical motor. It is the latest steering system without conventional hydraulic power-assisted parts. Moreover, EPS systems offer more assistance compared to traditional electric motor hydraulic power steering coupled to the steering gear or column. Hydraulic power steering is a primitive technology used for decades and has improved significantly with time. Earlier, it did not have any difference in steering response with the car’s speed, but the new age of hydraulic power steering is speed-sensitive and works better than the older hydraulic power steering.
However, electric power steering is a comparatively new technology and comes under the advanced driver assistance system (ADAS) with a less complicated build & mechanism, space-saving, and durability. Electric power steering use sensors to sense the car speed and will take care of the different steering response required for different speeds. Electric power steering consumes power from a battery that is also charged by the engine, but it consumes less power than hydraulic power steering. Therefore, a car with an EPS system provides more mileage than one with hydraulic power steering.
Sensors detect steering column movements consecutively with a processor module that applies assistive power with an electric motor. This mechanism allows various assistance depending on driving conditions and requirements. With electronic systems becoming increasingly common in cars, they will use EPS as the future power steering system. Unlike its counterpart, EPS is consistently active during the steering process. It also eliminates maintenance on steering hydraulics and cuts fuel consumption by approximately 0.4 liters every 100 km.
How do EPS systems and sensors work in different vehicle types?
An electric power steering (EPS) sensor is a futuristic technology for highly automated driving. These sensors are primarily used in EPS systems to measure the torque on the steering wheels. The electronic control unit calculates the amount of steering assistance required by the electric motor based on the data collected by these sensors. The steering wheel angle and the amount of effort applied to the turn are the two key driver inputs that these steering sensors monitor.
After analyzing these input signals, motor electronics generate a responsive output algorithmically, resulting in intuitively responsive assisted steering. The assistance provided by the sensors to the vehicle enables the driver to have a better judgment of constraints and directions, thereby reducing accidents and collisions.
The application of electric power steering in passenger cars is surging, owing to its numerous advantages. Along with reducing the vehicle weight and rising production and sales of passenger cars, automobile manufacturers are proactively equipping their vehicles with EPS. This step aids in increasing fuel efficiency while further increasing a focus on safety and comfort. Thereby, the automobile manufacturers are now focusing on incorporating electric power steering technology in the entry-level segment cars, also, in turn, propelling the demand for electric power steering in passenger cars.
The adoption of electric power steering in commercial vehicles is still nascent as they majorly use hydraulic steering systems. However, with the increased restrictions from environmental regulations, the scope for electrically power steering is expected to become a standard feature in commercial vehicles. With the growing logistics sector and construction, vehicles’ demand for electric power steering has increased. Moreover, with the continually increasing restrictions and regulations on diesel-powered commercial trucks, truck manufacturers, such as Volvo, Mercedes, and Daimler, have started manufacturing and testing electric trucks, which is expected to drive the demand for electric power steering systems in commercial vehicles.
EPS Systems: Future Outlook
An industry study estimated that electric power steering (EPS) saves 4% more fuel than hydraulic steering. Also, it uses 1/10th power as that of hydraulic steering. This number is huge when emissions from millions of vehicles are calculated. In addition, with the advent of government regulations, global automakers have been forced to comply with the new environmental norms to develop cleaner and fuel-efficient vehicles, driving the global automotive electric power steering market.
Which country dominates in the Asia-Pacific automotive electric power steering market in terms of revenue?
India dominates the Asia-Pacific automotive electric power steering market in terms of revenue.
Which is the leading component in the global automotive electric power steering market?
Steering Motor is the leading component in the global automotive electric power steering market.