India Electronic Power Steering (EPS) Market - Segmented by Type, Component Type, and Vehicle Type - Growth, Trends, and Forecast (2018 - 2023)

  • ID: 4544748
  • Report
  • Region: India
  • 80 pages
  • Mordor Intelligence
UP TO OFF
until Dec 31st 2018
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FEATURED COMPANIES

  • Anand Group
  • Denso Corporation
  • JTEKT
  • Nexteer Corporation
  • Rane Group
  • Robert Bosch GmbH
  • MORE
Over the years, the demand for fuel-efficient vehicles has been growing, continually. Automotive manufacturers have always focused on the same by reducing weight wherever possible, which is considered to be a good technique in decreasing the fuel consumption. One such area where weight reduction is popular is steering system, in which bulky mechanical parts are replaced with light-weight electric parts (motors, sensors, etc.) that reduce the vehicle’s weight while providing a comfortable steering pleasure.

Emission Regulations in India are Expected to Drive the Market

Currently, India follows BS IV norms that allow emissions of 0.74 g/km of CO & 0.39 g/km of NOx for light-duty diesel vehicles and 2.27 g/km & 0.11 g/km for light-duty petrol vehicles. This has forced steering system manufacturers to introduce new technologies that can reduce the systems’ weight, which directly results in lesser emission. This requirement has pushed the market from hydraulic or mechanical steering systems to electric power steering systems which consists of lesser mechanical parts that reduce the weight and decrease emissions from vehicles.

Growing Demand for Electric Vehicles Is Expected to Drive the India Electric Power Steering Market

India is moving towards becoming an all-electric vehicle country and in support to this the government has introduced various schemes for faster adoption and manufacturing of electric and hybrid vehicles in India under the National Electric Mobility Mission 2020. This move by the government is expected to encourage the progressive induction of reliable, affordable, and efficient electric and hybrid vehicles in the country. Electric and hybrid vehicles have an extensive range of features, which include a mandatory electric power steering. Therefore, the growth of electric vehicles is expected to significantly help augment the growth of the electric power steering market. However, the substantial costs associated with these sensors and other electric parts might pose a threat in the adoption of these systems.

Rack-assisted Electric Power Steering is Expected to Grow at the Fastest pace, among all types of EPS

Rack-assisted EPS is projected to be the fastest growing market segment, due to the increasing installation rate of electric power steering in commercial vehicles, as R-EPS is mostly used in heavy commercial vehicles. A growth in the e-Commerce sector and other, such as movers and packers sectors, along with the growing population, has increased the pace of logistics in the country, which, in turn, has paved a way for public road transportation in, both, intra and inter cities. These factors have, consequently, driven the demand for commercial vehicles, like trucks and buses, which, in turn, is propelling the production of the same.

The market study on electric power steering or EPS is segmented by type of EPS (column type electric power steering, pinion type electric power steering, dual pinion type electric power steering, and others), component (steering wheel and column, sensors, and motors), and type of vehicle (passenger cars and commercial vehicles).

Major Players: JTEKT, RANE GROUP, NEXTEER, ROBERT BOSCH GMBH, AND ZF INDIA, amongst others.

Reasons to Purchase the Report:
  • Current and future market outlook in the developed and emerging markets
  • Various perspectives of the market, with the help of Porter’s five forces analysis
  • Segment that is expected to dominate the market
  • Regions that are expected to witness the fastest rates growth during the forecast period
  • The latest developments, market shares, and strategies that are employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in Excel)
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Anand Group
  • Denso Corporation
  • JTEKT
  • Nexteer Corporation
  • Rane Group
  • Robert Bosch GmbH
  • MORE
1. Introduction
1.1 Scope of the Market
1.2 Market Definition
1.3 Executive Summary

2. Research Methodology
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Analysis Methodology
2.4 Research Phases

3. Market Insights
3.1 Supply Chain Analysis
3.2 Industry Attractiveness - Porter's Five Force Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Competitive rivalry within the Industry
3.3 Government Regulations, Incentives, and Manufacturing Standards
3.4 Technology Trends

4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities

5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)
5.1 By Type
5.1.1 Column Type
5.1.2 Pinion Type
5.1.3 Dual Pinion Type
5.1.4 Others
5.2 By Component
5.2.1 Steering Wheel and Column
5.2.2 Sensors
5.2.3 Motor
5.2.4 Others
5.3 By Vehicle Type
5.3.1 Passenger Cars
5.3.2 Commercial Vehicles
5.3.2.1 Light Commercial Vehicles
5.3.2.2 Heavy Commercial Vehicles

6. Future of the Market

7. Competitive Landscape
7.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
7.4 Supplier Information

8. Company Profiles (Company Overview, Financials**, Products & Services, Recent Developments, And Analyst View)
8.1 JTEKT
8.2 Nexteer Corporation
8.3 Denso Corporation
8.4 ZF India
8.5 Anand Group
8.6 Sona Koyo Steering Systems Ltd
8.7 Robert Bosch GmbH
8.8 Rane Group
8.9 *List not Exhaustive

9. Disclaimer

10. **Subject to Availability on Public Domain
Note: Product cover images may vary from those shown
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  • JTEKT
  • Nexteer Corporation
  • Denso Corporation
  • ZF India
  • Anand Group
  • Sona Koyo Steering Systems Ltd
  • Robert Bosch GmbH
  • Rane Group
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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