Market Size of UK Automotive Eps Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 10.95 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
UK Automotive EPS Market Analysis
UK Automotive Electric Power Steering Market is anticipated to register a CAGR of about 10.95% 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.
Among regions, the United Kingdom is one of the dominating nations in the automotive EPS market. The EPS market is primarily driven by the growing luxury vehicle production and sales, owing to the increasing preference for safety and comfort. Also, rapid electrification of vehicles and rising stringency of emission norms in developed economies such as the United Kingdom is expected to increase the demand for EPS installed cars.
The rising popularity of self-driving vehicles fueled demand for the electric power steering system market and the ECU worldwide. Vehicles that are equipped with EPS tend to have a reduced overall weight, which further increases fuel efficiency.
UK Automotive EPS Industry Segmentation
The UK Electric Power Steering Market 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 country-level analysis and market share of significant EPS manufacturing companies across United Kingdom will be provided in the report's scope.
| 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 |
UK Automotive Eps Market Size Summary
The UK automotive electric power steering (EPS) market is experiencing significant growth, driven by factors such as the increasing ownership of personal vehicles and advancements in technology. The EPS system, which enhances the driver's ability to steer by augmenting the necessary effort, is becoming increasingly popular due to the rising production and sales of luxury vehicles that prioritize safety and comfort. The rapid electrification of vehicles and the stringent emission norms in developed economies like the UK are further propelling the demand for EPS-equipped cars. The growing interest in self-driving vehicles is also contributing to the market's expansion, as EPS systems help reduce vehicle weight and improve fuel efficiency. Modern EPS systems, supported by advanced electronic control units (ECUs), offer enhanced driving experiences by automatically compensating for road irregularities, thereby making driving more comfortable and less stressful.
The UK automotive EPS market is characterized by a consolidated landscape with key players such as JTEKT Corporation, ZF Friedrichshafen AG, NSK Ltd, Mitsubishi Electric Corporation, and Nexteer Automotive holding significant market shares. These companies are actively engaging in joint ventures, partnerships, and the launch of new products with advanced technologies to maintain a competitive edge. The market is also influenced by the increasing consumer demand for vehicles equipped with advanced safety systems, as well as the government's stringent regulations on fuel efficiency and safety. As a result, automobile manufacturers are incorporating various systems to enhance vehicle safety, making advanced steering systems more accessible beyond premium vehicles. This trend is supported by the integration of sensors and torque measurement technologies in EPS systems, which contribute to improved vehicle control and safety.
UK Automotive Eps 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 Porters Five Force 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 Vehicle Type
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2.1.1 Passenger Car
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2.1.2 Commercial Vehicle
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2.2 Product Type
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2.2.1 By Rack assist type (REPS)
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2.2.2 Colum assist type (CEPS)
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2.2.3 Pinion assist type (PEPS)
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2.3 Demand Category
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2.3.1 OEM
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2.3.2 Replacement
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UK Automotive Eps Market Size FAQs
What is the current UK Automotive Eps Market size?
The UK Automotive Eps Market is projected to register a CAGR of 10.95% during the forecast period (2024-2029)
Who are the key players in UK Automotive Eps Market?
ATS Automation Tooling Systems Inc., Delphi Automotive Systems, GKN PLC, Hitachi and Hyundai Mobis are the major companies operating in the UK Automotive Eps Market.
