Market Share of Electro Hydraulic Power Steering Industry
The automotive electro-hydraulic power steering market is highly consolidated and competitive. The market is characterized by the presence of considerably large players who secured long-term supply contracts with major automotive OEMs. These players also engage in joint ventures, mergers and acquisitions, and product development to enhance their brand portfolio.
Some of the major players dominating the global market are JTEKT Corporation, Nissan Motor Corporation, SEAT, Robert Bosch GmbH, ZF Friedrichshafen, Danfoss A/S, Mitsubishi Heavy Industries, and Evamo, among others. Key players are launching new products to secure their market position and stay ahead of the market curve. For instance,
- In June 2023, Robert Bosch announced its partnership with Arnold NextG to introduce steer-by-wire steering systems to the automotive market in large-scale production. This partnership ensured its commitment to offering advanced steering systems, such as electro-hydraulic power steering systems, to its customers. The partnership aims to support the active development in the automated driving space by supplying automakers with essential new-age parts and components.
The market is anticipated to witness the launch of various advanced electro-hydraulic power steering systems in the coming years as these players try to gain a competitive edge with the diversification of their product portfolio.
Automotive Electro-hydraulic Power Steering Market Leaders
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JTEKT Corporation
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Nissan Motor Corporation
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SEAT
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Robert Bosch GmbH
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ZF Friedrichshafen
*Disclaimer: Major Players sorted in no particular order
