Argentina Automotive EPS Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Medium |
Major Players_MAjor_player.webp)
*Disclaimer: Major Players sorted in no particular order |
Argentina Automotive EPS Market Analysis
The Europe Automotive Electric Power Steering (EPS) Market is projected to grow with a CAGR of more than 6% during the forecast period.
- The integration of numerous steering sensors in an electric power steering (EPS) helps provide additional safety benefits to the driver. Moreover, the enactment of stringent fuel economy norms, along with safety initiatives by the governments and international associations, are considered important drivers for the growth and development of the advanced steering systems.
- Electric power steering systems are fuel-efficient as compared to the other alternatives, which is due to the absence of belt-driven hydraulic or manual pumps, which run constantly, whether assistance is required or not. EPS provides fuel savings as high as 0.4 l for every 100 km, along with a reduction in CO2 emissions of up to 7 g/km.
- Major automakers have their own electric power steering systems such as Ford adaptive power steering. Adaptive steering systems of Ford utilize a precision-controlled actuator just inside the steering wheel, without making any changes to its traditional steering system. Adaptive steering makes the car more nimble and easier to turn.
- Large commercial vehicles, such as buses and trucksare different from passenger cars, as the large vehicles have the requirementof higher torque to provide steering assistance, additionally they have much higher mileages, heavier loads and more constant use than passenger cars, due to all the above reasons EPS is a much needed solution for commercial vehicles.
Argentina Automotive EPS Market Trends
This section covers the major market trends shaping the Argentina Automotive EPS Market according to our research experts:
Sensors are Expected to Grow at Rapid Pace in the Market
The major change between the traditional power steering to electric power steering is the hydraulic parts of the system such as hoses, belts, and pumps which are replaced by digital sensors and motors in the EPS systems. Sensors are one of the most critical parts in the EPS system, mainly the torque sensor, which collects steering direct and road resistance input and communicate the torque to the EPS module. The sensors produce a digital square wave signal with the frequency depending on the speed with which the wheel is turning. The signal is low when the wheel is kept straight and increases as the wheel is turned away from the center. Some of the recent advancements of the EPS sensors are
In 2018, Hella showcased its steering and braking solutions in which it displayed the steering angle sensor, Torque and Angle Sensor (TAS). These sensors are based on contactless inductive position sensor (CIPOSA) technology, which measures the torque and angle of the steering wheel with accuracy.
Whereas in 2019, Infineon Technologies AG has launched a linear Hall sensor. The XENSIV TLE4999I3 provides highest level of functional safety (ASIL D). These include various features such as electric steering systems, electric throttle control systems, and pedal applications.
Moreover, the stringency in government regulations regarding fuel efficiency and safety initiatives are important drivers for the growth and development of the advanced steering systems that comprehensively employ steering sensors.
Government Initiatives and Growing Emphasis on Safer Automotive Systems are Driving the Market
On an average, globally, about 1.24 million people die in road accidents each year, half of whom are vulnerable road users, such as pedestrians and motorcyclists, while the other half die because of side-impact accidents. According to the World Health Organization (WHO), 80% of cars sold in the world are not compliant with the main safety standards. Only 40 countries have adopted the full set of the seven most important regulations for car safety.
A significant increase in the number of accidents has also encouraged end-users to adopt better safety systems. Improvements in roadway and motor vehicle designs have steadily reduced injury and death rates in all the first world countries. However, the accident rates are still higher in some developing countries, and governments are focusing on implementing stringent safety norms and supporting the adoption of various subsystems in the vehicles.
Driven by these factors, automobile manufacturers are incorporating several systems in vehicles that enhance safety. Advanced safety and security features are no longer restricted to premium vehicles. Consumers are now more concerned about safety systems and technologies, and therefore, they are more interested in opting for vehicles that are equipped with better safety systems.
- For instance, Infiniti Q50 incorporated direct adaptive steering in vehicles, which involves sensors in the car that constantly monitor the position of the steering wheel. In addition, torque sensors are integrated into the EPS system. The torque sensors measure the effort applied by the driver to steer the vehicle.
Moreover, the stringency in government regulations regarding fuel efficiency and safety initiatives are important drivers for the growth and development of the advanced steering systems that comprehensively employ steering sensors.
Argentina Automotive EPS Industry Overview
The Argentina automotive steering sensor market is moderately consolidated. Some of the prominent companies in the automotive steering sensor market are Robert Bosch GmbH, Continental AG, and TE Connectivity. Companies are entering into partnership and collaboration holds the major share in the market and have an advantage over the rivals.
- In 2019, NSK Ltd. which was a leader in electric power steering and Volkswagen AG have entered into a formal cooperation agreement, both companies steering divisions have agreed on development cooperation.
Argentina Automotive EPS Market Leaders
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Robert Bosch GmbH
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NSK Ltd.
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ZF Friedrichshafen AG
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JTEKT Corporation
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Nexteer Automotive Group Ltd
*Disclaimer: Major Players sorted in no particular order
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Argentina Automotive EPS Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Industry Attractiveness - Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Column Type,
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5.1.2 Pinion Type
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5.1.3 Dual Pinion Type
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5.2 By Component Type
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5.2.1 Steering Rack/Column
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5.2.2 Sensor
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5.2.3 Steering Motor
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5.2.4 Other Components
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5.3 By Vehicle Type
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5.3.1 Passenger Cars
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5.3.2 Commercial Vehicles
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6. COMPETITIVE LANDSCAPE
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6.1 Vendor Market Share
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6.2 Company Profiles
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6.2.1 Hubei Henglong Auto System Group
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6.2.2 Denso Corporation
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6.2.3 GKN PLC
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6.2.4 JTEKT Corporation
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6.2.5 Mitsubishi Electric Corporation
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6.2.6 Nexteer Automotive
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6.2.7 NSK Ltd
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6.2.8 Robert Bosch GmbH
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6.2.9 Thyssenkrupp Presta AG
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6.2.10 ZF Friedrichshafen AG
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Argentina Automotive EPS Industry Segmentation
The Argentina automotive EPS market covers the latest trends and technological development and market demand by type, component type, vehicle type, country, and market share of major automotive EPS manufacturing companies across Argentina.
| By Type | |
| Column Type, | |
| Pinion Type | |
| Dual Pinion Type |
| By Component Type | |
| Steering Rack/Column | |
| Sensor | |
| Steering Motor | |
| Other Components |
| By Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
Argentina Automotive EPS Market Research FAQs
What is the current Argentina Automotive EPS Market size?
The Argentina Automotive EPS Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Argentina Automotive EPS Market?
Robert Bosch GmbH , NSK Ltd., ZF Friedrichshafen AG, JTEKT Corporation and Nexteer Automotive Group Ltd are the major companies operating in the Argentina Automotive EPS Market.
What years does this Argentina Automotive EPS Market cover?
The report covers the Argentina Automotive EPS Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Argentina Automotive EPS Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Argentina Automotive EPS Industry Report
Statistics for the 2024 Argentina Automotive EPS market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Argentina Automotive EPS analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
