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Japan Electro Hydraulic Power Steering Market Size (2024 - 2029)

The Japan electro-hydraulic power steering market is experiencing growth due to the increasing weight of vehicles and the shift to front-wheel drive, which necessitates assistance in steering. This market's expansion is driven by the adoption of power-assisted steering systems, which enhance driving control by adjusting assistance based on speed. Electro-hydraulic power steering systems, in particular, are gaining traction as they offer a solution that does not rely on engine-driven hydraulic pumps, making them suitable for both conventional and hybrid-electric vehicles.

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Market Size of Japan Electro Hydraulic Power Steering Industry

Market_Overview
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

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*Disclaimer: Major Players sorted in no particular order

Japan Electro Hydraulic Power Steering Market Analysis

The Japan electro-hydraulic power steering market is anticipated to register a CAGR of over 6% during the forecast period (2020-2025).

  • As most vehicles nowadays have become heavier and switched to front-wheel drive, along with an increase in tire diameter and width, the effort needed to turn the steering wheel manually would also increase. To reduce the manual effort, power steering or rather power-assisted steering were introduced to assist the driver. 
  • Some of the advantages of power steering are its adjustable speed characteristic, where the steering is assisted more at low speed and assisted lightly at high speed to increase the control over the vehicle. This feature has gradually become a commonplace across all new vehicles. Of the different types of steering systems available nowadays, electro-hydraulic power steering is one of them.
  • Electro-hydraulic hybrid systems allow conventional hydraulic steering to run without the need of an engine-driven hydraulic pump. The hydraulic pressure instead is supplied by an electric motor pump unit that does not draw power from the engine. This concept is particularly helpful in vehicles that utilize conventional hydraulic steering as a basic technology but are also offered for hybrid-electric vehicle variants.

Japan Electro Hydraulic Power Steering Industry Segmentation

The Japan electro-hydraulic power steering market covers the latest trends and technological development and market demand by vehicle type, component, and market share of major electro-hydraulic power steering manufacturing companies across Japan.

By Component Type
Steering Motor
Sensors
Other Components
By Vehicle Type
Passenger Vehicles
Commercial Vehicles
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Japan Electro Hydraulic Power Steering Market Size Summary

The Japan electro-hydraulic power steering market is poised for significant growth, driven by the increasing weight of vehicles and the shift towards front-wheel drive systems. As vehicles become heavier and tire dimensions expand, the manual effort required for steering has risen, necessitating the adoption of power-assisted steering systems. Electro-hydraulic power steering (EHPS) systems, which utilize an electric motor pump unit to supply hydraulic pressure, offer advantages such as adjustable speed characteristics, enhancing vehicle control. This technology is particularly beneficial for hybrid-electric vehicles, allowing for improved efficiency by eliminating the need for engine-driven hydraulic pumps. Despite the advancements in EHPS, the market faces competition from fully electronic power steering systems, which are more efficient and less complex, making them easier to manufacture and maintain.

The market for electro-hydraulic power steering in Japan is further bolstered by the country's strong commercial vehicle sector, including heavy trucks and construction machinery, where EHPS systems are widely employed. The focus on energy savings and cost benefits, particularly in commercial vehicles, underscores the importance of EHPS systems, which offer significant fuel savings compared to conventional hydraulic systems. Key players in the market, such as JTEKT Corporation, Nexteer Automotive Group Ltd, ZF Friedrichshafen AG, NSK Ltd, and Robert Bosch GmbH, maintain a strong presence through partnerships with major OEMs, ensuring their continued dominance in the market. As innovations continue to emerge, the EHPS market is expected to expand, driven by the demand for more efficient and cost-effective steering solutions in the automotive industry.

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Japan Electro Hydraulic Power Steering Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Component Type

      1. 2.1.1 Steering Motor

      2. 2.1.2 Sensors

      3. 2.1.3 Other Components

    2. 2.2 By Vehicle Type

      1. 2.2.1 Passenger Vehicles

      2. 2.2.2 Commercial Vehicles

Japan Electro Hydraulic Power Steering Market Size FAQs

The Japan Electro Hydraulic Power Steering Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

JTEKT Corporation, Nexteer Automotive Group Ltd, ZF Friedrichshafen AG, NSK Ltd and Robert Bosch GmbH are the major companies operating in the Japan Electro Hydraulic Power Steering Market.

Japan Electro Hydraulic Power Steering Report Snapshots

Japan Electro-Hydraulic Power Steering Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)