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EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET FORECAST 2022-2030

The Europe automotive electric power steering market is anticipated to propel with a 3.95% CAGR by 2030, and generate $9582.57 million in revenue during the forecasted years 2022 and 2030.

EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET FORECAST 2022-2030

Europe Automotive Electric Power Steering Market by Vehicle Type (Passenger Cars, Commercial Vehicles (Light Commercial Vehicles, Medium & Heavy Commercial Vehicles) Market by Mechanism (Column Type, Pinion Assist, Rack Assist, Other Mechanisms) Market by Component (Steering Rack/column, Sensor, Steering Motor, Other Components) By Geography

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The Europe automotive electric power steering market is anticipated to propel with a 3.95% CAGR by 2030, and generate $9582.57 million in revenue during the forecasted years 2022 and 2030.

Europe homes various major global automakers and OEM (original equipment manufacturing) companies, supporting the growth of the studied market. The constant technological advancements in the automotive sector, high production of automobiles, and the surging demand for effective steering systems in fuel-efficient vehicles are expected to drive the market growth over the forecast period. Further, vehicular emissions and carbon tax regulations force companies to reduce emissions and fuel the automotive electric power steering market.

Europe Automotive Electric Power Steering Market

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The Europe automotive electric power steering market growth evaluation includes the analysis of the Czech Republic, Germany, United Kingdom, Spain, France, Italy, Slovakia, and Rest of Europe. According to the Organisation Internationale des Constructeurs d’Automobiles (OICA), an automotive industry body, the United Kingdom had a production volume of 932488 vehicles in 2021. It had committed to phasing out new diesel & petrol cars and vans by 2030. Furthermore, from 2035 all new vehicles must be at the tailpipe of zero-emission. As a result, the electrification of vehicles is taking on a large scale across the country.

Further, electric power steering is becoming more popular as automotive customers in the United Kingdom support the inclusion of electronic power steering (EPS) and related steering sensor features as standard equipment in cars, aiming to improve road safety and driving experience. There has been a huge increase in the number of pure-electric and plug-in hybrid models available in the United Kingdom. Several top manufacturers in the country are now offering several EVs as part of their model range. Thus, the growing electrification drive and strong automobile industry are the major factors for adopting electric power steering systems.

The Europe automotive electric power steering market segmentation includes the component, mechanism, and vehicle type. Market by mechanism covers column type, pinion assist, rack assist, and other mechanisms.

In pinion assist, the electric motor is mounted on the pinion. Additionally, in single-pinion EPS, the motor force is applied directly to the pinion gear’s steering rack. Even though it gives a better feel than column type, single-pinion EPS has a serious disadvantage as the motor is located just in front of the pedals. As a result, the motor is likely to cause injuries by pushing against the driver’s legs during a frontal collision. Therefore, many manufacturers have turned to the dual-pinion system due to safety concerns.

The dual pinion segment is anticipated to lead the market in demand and adoption by providing a better steering feel and fuel economy. Dual pinion provides additional design flexibility to locate the motor and controller. These ESPs also assist in opposite driver-side mechanisms, reducing the risks of leg injury in case of a collision. In addition, the increasing penetration of C and D vehicle segments is predicted to accelerate the dual pinion segment growth during the forecast period.

Key players in the Europe automotive electric power steering market include thyssenkrupp AG, Robert Bosch GmbH, ZF Group, etc.

Thyssenkrupp AG has businesses in automotive, engineering, energy and utilities, processing, trading, construction packaging, etc. The company’s offerings include marine systems, automotive OEMs, supply chain management, component technology solutions, and steel products. Thyssenkrupp also partners in engineering and construction and provides industrial plants and systems services. It operates in the United States, China, Germany, and other countries. Thyssenkrupp owns and operates manufacturing, R&D, and other facilities worldwide. The company is headquartered in Essen, Germany.

Column EPS from thyssenkrupp is mounted on the upper column (ColPAS) and provides steering assistance with an electromechanical power unit. The system is designed for the existing installation space and high acoustic requirements in the cockpit area.

Report Synopsis

Report Scope Details
Market Forecast Years 2022-2030
Base Year 2021
Market Historical Years 2018-2021
Forecast Units Revenue ($ Million)
Segments Analyzed Vehicle Type, Component, Mechanism
Countries Analyzed United Kingdom, Germany, France, Italy, Spain, Slovakia, Czech Republic, and Rest of Europe
Companies Analyzed

China Automotive Systems Inc, DENSO Corporation, Hitachi Astemo Ltd, Hyundai Mobis, Infineon Technologies, JTEKT Corporation, MAHLE GmbH, Mando Corporation, Mitsubishi Electric Corporation, Nexteer Automotive Group Ltd, Nidec Corporation, NSK Ltd, Robert Bosch GmbH, thyssenkrupp AG, ZF Group

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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • MARKET OVERVIEW
    3. MARKET DYNAMICS
      • KEY DRIVERS
        • INCREASED FUEL EFFICIENCY IN THE ELECTRIC POWER STEERING MECHANISM
        • LOW MAINTENANCE COMPARED TO THE CONVENTIONAL STEERING SYSTEM
      • KEY RESTRAINTS
        • LACK OF STEERING FEEL
    1. KEY ANALYTICS
      • IMPACT OF COVID-19 ON AUTOMOTIVE ELECTRIC POWER STEERING MARKET
      • KEY MARKET TRENDS
      • PORTER’S FIVE FORCES ANALYSIS
        • BUYERS POWER
        • SUPPLIERS POWER
        • SUBSTITUTION
        • NEW ENTRANTS
        • INDUSTRY RIVALRY
      • OPPORTUNITY MATRIX
      • VENDOR LANDSCAPE
    2. MARKET BY VEHICLE TYPE
      • PASSENGER CARS
      • COMMERCIAL VEHICLES
        • LIGHT COMMERCIAL VEHICLES (LCV)
        • MEDIUM & HEAVY COMMERCIAL VEHICLES (M&HCV)
    1. MARKET BY MECHANISM
      • COLUMN TYPE
      • PINION ASSIST
      • RACK ASSIST
      • OTHER MECHANISMS
    2. MARKET BY COMPONENT
      • STEERING RACK/COLUMN
      • SENSOR
      • STEERING MOTOR
      • OTHER COMPONENTS
    3. GEOGRAPHICAL ANALYSIS
      • EUROPE
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED KINGDOM
          • GERMANY
          • FRANCE
          • ITALY
          • SPAIN
          • SLOVAKIA
          • CZECH REPUBLIC
          • REST OF EUROPE
    1. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • MERGERS & ACQUISITIONS
        • PRODUCT LAUNCHES & DEVELOPMENTS
        • PARTNERSHIPS & AGREEMENTS
      • COMPANY PROFILES
        • CHINA AUTOMOTIVE SYSTEMS INC
        • DENSO CORPORATION
        • HITACHI ASTEMO LTD
        • HYUNDAI MOBIS
        • INFINEON TECHNOLOGIES
        • JTEKT CORPORATION
        • MAHLE GMBH
        • MANDO CORPORATION
        • MITSUBISHI ELECTRIC CORPORATION
        • NEXTEER AUTOMOTIVE GROUP LTD
        • NIDEC CORPORATION
        • NSK LTD
        • ROBERT BOSCH GMBH
        • THYSSENKRUPP AG
        • ZF GROUP

    LIST OF TABLES

    TABLE 1: MARKET SNAPSHOT – AUTOMOTIVE ELECTRIC POWER STEERING

    TABLE 2: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 3: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 4: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMMERCIAL VEHICLES, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 5: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMMERCIAL VEHICLES, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 6: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY MECHANISM, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 7: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY MECHANISM, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 8: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 9: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 10: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 11: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 12: LEADING PLAYERS OPERATING IN EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET

    TABLE 13: LIST OF MERGERS & ACQUISITIONS

    TABLE 14: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

    TABLE 15: LIST OF PARTNERSHIPS & AGREEMENTS          

    LIST OF FIGURES

    FIGURE 1: KEY MARKET TRENDS

    FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

    FIGURE 3: OPPORTUNITY MATRIX

    FIGURE 4: VENDOR LANDSCAPE

    FIGURE 5: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, GROWTH POTENTIAL, BY VEHICLE TYPE, IN 2021

    FIGURE 6: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PASSENGER CARS, 2022-2030 (IN $ MILLION)

    FIGURE 7: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMMERCIAL VEHICLES, 2022-2030 (IN $ MILLION)

    FIGURE 8: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, GROWTH POTENTIAL, BY COMMERCIAL VEHICLES, IN 2021

    FIGURE 9: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY LIGHT COMMERCIAL VEHICLES (LCV), 2022-2030 (IN $ MILLION)

    FIGURE 10: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY MEDIUM & HEAVY COMMERCIAL VEHICLES (M&HCV), 2022-2030 (IN $ MILLION)

    FIGURE 11: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, GROWTH POTENTIAL, BY MECHANISM, IN 2021

    FIGURE 12: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COLUMN TYPE, 2022-2030 (IN $ MILLION)

    FIGURE 13: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PINION ASSIST, 2022-2030 (IN $ MILLION)

    FIGURE 14: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY RACK ASSIST, 2022-2030 (IN $ MILLION)

    FIGURE 15: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY OTHER MECHANISMS, 2022-2030 (IN $ MILLION)

    FIGURE 16: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, GROWTH POTENTIAL, BY COMPONENT, IN 2021

    FIGURE 17: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY STEERING RACK/COLUMN, 2022-2030 (IN $ MILLION)

    FIGURE 18: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY SENSOR, 2022-2030 (IN $ MILLION)

    FIGURE 19: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY STEERING MOTOR, 2022-2030 (IN $ MILLION)

    FIGURE 20: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY OTHER COMPONENTS, 2022-2030 (IN $ MILLION)

    FIGURE 21: EUROPE AUTOMOTIVE ELECTRIC POWER STEERING MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

    FIGURE 22: UNITED KINGDOM ELECTRIC POWER STEERING MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 23: GERMANY ELECTRIC POWER STEERING MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 24: FRANCE ELECTRIC POWER STEERING MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 25: ITALY ELECTRIC POWER STEERING MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 26: SPAIN ELECTRIC POWER STEERING MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 27: SLOVAKIA ELECTRIC POWER STEERING MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 28: CZECH REPUBLIC ELECTRIC POWER STEERING MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 29: REST OF EUROPE ELECTRIC POWER STEERING MARKET, 2022-2030 (IN $ MILLION)       

    1. GEOGRAPHICAL ANALYSIS
      • EUROPE
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED KINGDOM
          • GERMANY
          • FRANCE
          • ITALY
          • SPAIN
          • SLOVAKIA
          • CZECH REPUBLIC
          • REST OF EUROPE
    1. MARKET BY VEHICLE TYPE
      • PASSENGER CARS
      • COMMERCIAL VEHICLES
        • LIGHT COMMERCIAL VEHICLES (LCV)
        • MEDIUM & HEAVY COMMERCIAL VEHICLES (M&HCV)
    1. MARKET BY MECHANISM
      • COLUMN TYPE
      • PINION ASSIST
      • RACK ASSIST
      • OTHER MECHANISMS
    2. MARKET BY COMPONENT
      • STEERING RACK/COLUMN
      • SENSOR
      • STEERING MOTOR
      • OTHER COMPONENTS

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    We offer 10% free customization including country-level data, niche applications and competitive landscape with every report.


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