Japan Automotive EPS Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 12.95 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Japan Automotive EPS Market Analysis
Japan Automotive Electric Power Steering Market is anticipated to register a CAGR of about 12.95% during the forecast period (2020 - 2025).
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 Japanese economy is growing, and the disposable income of middle-class consumers is also increasing. This, in turn, reflects positively on the growing demand for vehicles. Over the past five years, vehicle production has gone up drastically due to the low production costs in the country. Due to the hike in vehicle production, the electric power steering component market is also gaining momentum. Moreover, the Japanese government has also cut down the taxes on cars, to increase cars' sales.
The rising popularity of self-driving vehicles is fueling the demand for the electric power steering system. Vehicles that are equipped with EPS tend to have a reduced overall weight, which further increases fuel efficiency.
Japan Automotive EPS Market Trends
This section covers the major market trends shaping the Japan Automotive EPS Market according to our research experts:
ECU is the fastest-growing component amongst all Electric Power Steering (EPS) components
The electric ECU provides a lower cogging torque for the better driving experience, improving the interaction between the permanent magnets of the rotor and the stator slots of the Permanent Magnet (PM) machine. Traditional steering systems required the driver to continually make minor steering corrections to compensate for irregularities, such as road camber or crosswinds. But modern Electric Power Steering automatically assists the driver in case they encounter such barriers. The ECU unit can register if the driver is continuously counter steering, and itself automatically compensate for the correction. This makes driving more comfortable and less stressful.
ECU consists of 3 significant components that are the control module, power module, and control software. The control module gives access to power the switches and performs diagnostics functions in the power module. While the power module consists of three half-bridges where each half-bridge powers one phase of the three-phase electric. Lastly, the control software is the algorithm that enables the control of the speed and torque of the electric of the EPS unit. However, designers face challenges such as meeting flexible but a cost-effective architecture that can be equipped in cars ranging from SUVs to compact vehicles by satisfying power requirements for different steering rack load.
However, there is a demand for higher steering power, to improve driver comfort and feedback without losing power assistance, especially at a slower pace. For instance, Nexteer uses three different sensor technologies. While each can be used with the same position sensor, torque sensor, and ECU. The company has introduced solutions that reduce the steering angle sensor, which provides active lighting, stability control, and ADAS. They will enable us to broadcast an absolute steering position based just on the EPS motor sensor.
Passenger Cars dominating the Japan Electric Power Steering Market
The Japanese vehicles market is the third in the World with an annual volume oscillating in the last decade between 4.9 and 5.5 million units, with 2019 ending at 5.18 million units.
Japan is a developed economy where the Electric Power Steering (EPS) implementation in passenger cars is overgrowing. This is due to its advantages, such as no hoses or fluids required in the steering system, thereby reducing the repair and maintenance costs. Automated driving will make the roads safer and more secure, as a result, Japan is aiming for Level 3 automated driving on expressways by 2020.
Currently, less than 60% of the passenger cars are running with EPS technology. However, stringent Japanese government regulations regarding fuel efficiency will drive the growth of the segment for the EPS segment.
Although the Government imposed restrictions on international travel and school closure, the Covid-19 impact on the Country has been relatively low – thanks to prevention and protection measures against the virus – avoiding business closures.
Japan Automotive EPS Industry Overview
The Japan Automotive Power Steering Market is consolidated with existing market players such as Denso, JTEKT, NSK Ltd., ZF TRW, Nexteer Automotive, Rane Group, and Sono Koyo Steering which hold the most significant shares. To have the edge over its competitors' companies are making joint-ventures, partnerships, launching new products with advanced technology.
For instance, DENSO received the Minister of Education, Culture, Sports, Science and Technology Award in Japan in April 2019 for developing the worldʼs first 2-Drive Electric Power Steering MCU
Japan Automotive EPS Market Leaders
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JTEKT Corp.
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Nexteer Automotive
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ZF / TRW
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Bosch Corporation
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NSK
*Disclaimer: Major Players sorted in no particular order
Japan 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 Porters Five Force 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 Vehicle Type
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5.1.1 Passenger Car
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5.1.2 Commercial Vehicle
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5.2 Product Type
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5.2.1 By Rack assist type (REPS)
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5.2.2 Colum assist type (CEPS)
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5.2.3 Pinion assist type (PEPS)
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5.3 Demand Category
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5.3.1 OEM
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5.3.2 Replacement
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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 ATS Automation Tooling Systems Inc.
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6.2.2 Delphi Automotive Systems
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6.2.3 GKN PLC
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6.2.4 Hitachi Automotiec Systems
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6.2.5 Hyundai Mobis Co
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6.2.6 Infineon Technologies
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6.2.7 JTEKT Corporation
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6.2.8 Mando Corporation
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6.2.9 Mitsubishi Electric Corporation
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6.2.10 Nexteer Automotive
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6.2.11 NSK Ltd.
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Japan Automotive EPS Industry Segmentation
The Japan Electric Power Steering EMarket report covers the latest technology trends and provides an analysis of various areas of the market demand by EPS type, application, and demand category. The market share of major EPS manufacturing companies in Japan will be provided in the report.
| Vehicle Type | |
| Passenger Car | |
| Commercial Vehicle |
| Product Type | |
| By Rack assist type (REPS) | |
| Colum assist type (CEPS) | |
| Pinion assist type (PEPS) |
| Demand Category | |
| OEM | |
| Replacement |
Japan Automotive EPS Market Research FAQs
What is the current Japan Automotive EPS Market size?
The Japan Automotive EPS Market is projected to register a CAGR of 12.95% during the forecast period (2024-2029)
Who are the key players in Japan Automotive EPS Market?
JTEKT Corp. , Nexteer Automotive , ZF / TRW , Bosch Corporation and NSK are the major companies operating in the Japan Automotive EPS Market.
What years does this Japan Automotive EPS Market cover?
The report covers the Japan Automotive EPS Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Japan Automotive EPS Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Japan Automotive EPS Industry Report
Statistics for the 2024 Japan Automotive EPS market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Japan 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.
