Market Size of Africa Middle East Automotive Eps Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 10.95 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
MEA Automotive EPS Market Analysis
The Africa and Middle-East Automotive EPS Market was valued at USD 858.39 million in 2021, and it is projected to reach USD 1601.21 million by 2027, registering a CAGR of 10.95% during the forecast period (2022-2027).
During the outbreak of the COVID-19 pandemic, the market suffered from supply chain disruptions as several major economies around the world were forced into lockdown and economic activities were halted. To adhere to social distancing norms and limit the spread of the virus, all manufacturing units and OEM plants halted production. During this time, demand for passenger vehicles fell precipitously. The current trend is expected to continue throughout the Forecasts period.
Over the long term, reduction in complexity and an increase in efficiency, OEMs have shifted their focus from hydraulic to electric power steering systems. EPS systems provide steering assistance using an electric motor rather than a hydraulic pump, which helps to reduce vehicle weight. Additionally, due to the lack of belt-driven hydraulic or manual pumps, which run continuously whether assistance is required or not, electric systems are extremely fuel-efficient. The amount of steering force applied by the driver is calculated by electronic sensors and amplified by an electric motor to make steering easier.
Despite the high demand for electric power steering systems, this market still faces some challenges. The higher cost of EPS compared to traditional steering systems, as well as the lack of steering feel, may hamper market growth. However, today, second-hand vehicles in countries in Ethiopia are hugely limited due to high import duties and a limited supply of vehicles pushing for newer automotive and EPS manufacturing factories.
MEA Automotive EPS Industry Segmentation
Automotive EPS Motor is an integral component, due to its basic functionality of allowing the driver to steer the car by augmenting steering efforts needed to turn the steering wheel. Factors such as extensive ownership of personal vehicles and growing technological advancements will see the rise of the EPS market.
The Africa EPS market is segmented by component type, vehicle type, and country.
The Africa Middle East Automotive Power Steering Market is segmented by Component Type into Steering Wheel/Column, Sensors, Electronic control unit, and Others. By Vehicle Type, the market is segmented into Passenger Cars, Commercial Vehicles. By Country, the market is segmented into South Africa, Egypt, United Arab Emirates, Saudi Arabia, and Others. The report covers the market size and forecast in value (USD Billion) for all the above segments.
| Component Type | |
| Steering Wheel/Column | |
| Sensors | |
| Electronic Control Unit | |
| Others |
| Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
| Country | |
| South Africa | |
| Egypt | |
| United Arab Emirates | |
| Saudi Arabia | |
| Rest of Africa and Middle-East |
Africa Middle East Automotive Eps Market Size Summary
The Africa and Middle-East Automotive EPS market is experiencing significant growth, driven by a shift from traditional hydraulic systems to more efficient electric power steering systems. This transition is largely due to the benefits of reduced vehicle weight and improved fuel efficiency offered by EPS systems, which utilize electric motors instead of hydraulic pumps. The market is also benefiting from increased consumer demand for advanced vehicle features, such as enhanced driving comfort and integration of advanced driver-assistance systems. Despite challenges like higher costs and the need for better steering feel, the market is poised for expansion as automotive manufacturers in the region, including multinational companies and local producers, invest in new manufacturing facilities and technologies.
The market landscape is characterized by a consolidation of key players such as JTEKT, Bosch, NSK, and Nexteer Automotive, who are actively engaging in joint ventures and partnerships to maintain their competitive edge. The establishment of local assembly plants in countries like Nigeria, Kenya, and Ghana, supported by favorable government policies, is expected to further stimulate market growth. Additionally, regions like Ethiopia are emerging as potential automotive hubs, attracting interest from global automotive players due to state-driven industrialization efforts. As the demand for vehicles with better safety and comfort features continues to rise, the Africa and Middle-East Automotive EPS market is set to expand, supported by the region's robust automotive sector and increasing disposable incomes.
Africa Middle East Automotive Eps Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Component Type
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2.1.1 Steering Wheel/Column
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2.1.2 Sensors
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2.1.3 Electronic Control Unit
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2.1.4 Others
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2.2 Vehicle Type
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2.2.1 Passenger Cars
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2.2.2 Commercial Vehicles
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2.3 Country
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2.3.1 South Africa
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2.3.2 Egypt
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2.3.3 United Arab Emirates
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2.3.4 Saudi Arabia
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2.3.5 Rest of Africa and Middle-East
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Africa Middle East Automotive Eps Market Size FAQs
What is the current Africa Middle East Automotive Eps Market size?
The Africa Middle East Automotive Eps Market is projected to register a CAGR of 10.95% during the forecast period (2024-2029)
Who are the key players in Africa Middle East Automotive Eps Market?
Delphi Automotive Systems, ATS Automation Tooling Systems Inc., ZF Friedrichshafen AG, Robert Bosch GmbH. and NSK Ltd. are the major companies operating in the Africa Middle East Automotive Eps Market.
