“Mordor Intelligence” The global automotive electro-hydraulic power steering system market is segmented by vehicle type and geography. The commercial vehicle segment held the largest market share in 2018, accounting for nearly 75% of the market.
Electro Hydraulic Power Steering Market Overview
The global electro-hydraulic power steering market is anticipated to register a CAGR of over 8% during the forecast period (2020-2025). 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. Many auto manufactures and OEMs, such as Bosch, Nexteer, Ford, Nissan, etc., are increasingly researching and adopting EPS in their upcoming vehicles, which may deter the growth of electro-hydraulic systems.
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Electro Hydraulic Power Steering Market – Geographical Overview
India is a huge market for vehicles, such as heavy trucks, construction machinery, and agricultural machinery. Electro-hydraulic power steering systems are employed in the majority of these vehicles within the country. A hydraulic power-assist steering system proposed by Tata Motors from India features a magnetic clutch between the engine and steering pump so that the pump could work only on-demand, which reduces energy consumption. This simple strategy is now being implemented in heavy-duty vehicles.
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Key Highlights of the Electro Hydraulic Power Steering Market
- EHPS offers more fuel savings than an HPS system, which transitions to great cost benefits for commercial vehicle owners. For instance, an EHPS product from TRW has achieved fuel savings of 0.2 L/100 km, as compared to a conventional HPS system. EHPS system also has a significantly higher rack load than an HPS system.
- Some of the major players dominating the global market are JTEKT Corporation, Nexteer Automotive Group Ltd, ZF Friedrichshafen AG, NSK Ltd, and Robert Bosch GmbH. The top 5 players hold almost 75% of the market as of 2019.
Related Reports and Links
- Automotive Electric Power Steering ECU Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)
- Automotive Power Steering Motor Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)
List of Key Players in the Electro Hydraulic Power Steering Market
- JTEKT Corporation
- Nexteer Automotive
- NSK Ltd
- Robert Bosch GmbH
- ZF Friedrichshafen AG
- Showa Group
- Continental AG
- thyssenkrupp AG
- Mando Corporation
*List Not Exhaustive
Mordor Intelligence has segmented the global electro hydraulic power steering market on the basis of component type, vehicle type, and geography:
- Component Type (Market Size & Forecast based on Revenue (USD million), 2018-2026)
- Steering Motors
- Vehicle Type (Market Size & Forecast based on Revenue (USD million), 2018-2026)
- Passenger Vehicles
- Commercial Vehicles
- Geography (Market Size & Forecast based on Revenue (USD million), 2018-2026)
- Rest of Asia-Pacific
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of the World
- South Africa
- United Arab Emirates
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