Market Size of North America Electro Hydraulic Power Steering Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 8.00 % |
| Market Concentration | Medium |
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*Disclaimer: Major Players sorted in no particular order |
North America Electro Hydraulic Power Steering Market Analysis
The North America electro-hydraulic power steering market is anticipated to register a CAGR of over 7% 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.
North America Electro Hydraulic Power Steering Industry Segmentation
The North America electro-hydraulic power teering market covers the latest trends and technological development and market demand by vehicle type, component, country, and market share of major automotive EPS manufacturing companies across North America.
| By Type | |
| Column Type | |
| Pinion Type | |
| Dual Pinion Type |
| By Component Type | |
| Steering Motor | |
| Sensors | |
| Other Components |
| By Vehicle Type | |
| Passenger Vehicles | |
| Commercial Vehicles |
| By Country | |
| United States | |
| Canada | |
| Rest of North America |
North America Electro Hydraulic Power Steering Market Size Summary
The North America 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 electric power steering (EPS) systems, which are more efficient and less complex, making them easier to manufacture and maintain.
The North American market for electro-hydraulic power steering is substantial, particularly in the commercial vehicle sector, which includes heavy trucks, construction, and agricultural machinery. EHPS systems are widely employed in these vehicles, offering significant fuel savings compared to conventional hydraulic power steering systems. Major players in the market, such as JTEKT Corporation, Nexteer Automotive Group Ltd, ZF Friedrichshafen AG, NSK Ltd, and Robert Bosch GmbH, dominate the landscape by forming long-term partnerships with original equipment manufacturers (OEMs). These companies are at the forefront of innovation in the EHPS segment, contributing to the anticipated growth of the market over the forecast period.
North America Electro Hydraulic Power Steering 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 By Type
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2.1.1 Column Type
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2.1.2 Pinion Type
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2.1.3 Dual Pinion Type
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2.2 By Component Type
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2.2.1 Steering Motor
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2.2.2 Sensors
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2.2.3 Other Components
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2.3 By Vehicle Type
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2.3.1 Passenger Vehicles
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2.3.2 Commercial Vehicles
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2.4 By Country
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2.4.1 United States
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2.4.2 Canada
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2.4.3 Rest of North America
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North America Electro Hydraulic Power Steering Market Size FAQs
What is the current North America Electro Hydraulic Power Steering Market size?
The North America Electro Hydraulic Power Steering Market is projected to register a CAGR of greater than 8% during the forecast period (2024-2029)
Who are the key players in North America Electro Hydraulic Power Steering Market?
JTEKT Corporation, Nexteer Automotive Group Ltd, ZF Friedrichshafen AG, NSK Ltd and Robert Bosch GmbH are the major companies operating in the North America Electro Hydraulic Power Steering Market.
