Asia-Pacific Electrically-Powered Hydraulic Steering Market Latest Advancements and Growing Business Opportunities 2021 to 2025 | ATS Automation, Denso Corp, GKN PLC, Hitachi Automotive Systems Ltd., ZF, JTEKT Corporation, Mitsubishi Electric Corporation, Nexteer Automation, NSK Ltd., Robert Bosch GmbH

The Asia-Pacific Electrically-Powered Hydraulic Steering Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. We analyzed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.

The Asia-Pacific Electrically-Powered Hydraulic Steering market is anticipated to register a CAGR of over 8% during the forecast period (2020 – 2025).

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The 80 Pages report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Asia-Pacific Electrically-Powered Hydraulic Steering Market: ATS Automation, Denso Corp, GKN PLC, Hitachi Automotive Systems Ltd., ZF, JTEKT Corporation, Mitsubishi Electric Corporation, Nexteer Automation, NSK Ltd., Robert Bosch GmbH

Market Overview:

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. An advantage of power steering is 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.

Advancements in Electric Power Steering Technology Phasing Out the Electro-Hydraulic System

Failure of steering systems in vehicles, such as Ford Focus (2008) and Mercury Mariner SUV, helped in bringing about significant changes in electric power steering (EPS) technologies, driven by the improvements and advancements of steering sensors.

An electric power steering (EPS) does not use any form of hydraulic pressure to provide steering assistance. This technology is fully electronic and uses an electric motor to provide direct assistance. Since there is no power lost in generating and transmitting the hydraulic power, these systems are typically more efficient than the conventional hydraulic or electro-hydraulic steering systems. Furthermore, EPS systems are less complex than hydraulic systems. Hence, they are easier to manufacture. Moreover, car owners find it easier to maintain these systems, as there are fewer fluids and oils involved.

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. For instance, Ford has integrated a pull-drift steering compensation as an additional feature to its new EPS system. The company acknowledges EPS with pull-drift as an improvement in the sensor system, which helps to measure the driver’s steering torque constantly. It also helps in adapting to the changing road conditions, and adjustment to the slightest of steering changes.

Commercial Vehicles market expected to Witness High Growth

Energy saving is one of the most significant concerns in the development of new heavy vehicles, especially steering systems, as over 70% of the fuel consumed by a conventional hydraulic power steering (HPS) systems is unnecessary and can be avoided.

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.

Competitive Landscape

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.

There are few players in the market who hold a major share in the market. The players prefer a long-standing partnership with the major OEMs and are OEMs preferred suppliers for steering systems. The top 5 players hold almost 75% of the market as of 2019.

Influence Of The Asia-Pacific Electrically-Powered Hydraulic Steering Market Report:

-Comprehensive assessment of all opportunities and risk in the Asia-Pacific Electrically-Powered Hydraulic Steering market.

– Asia-Pacific Electrically-Powered Hydraulic Steering market recent innovations and major events.

-A detailed study of business strategies for growth of the Asia-Pacific Electrically-Powered Hydraulic Steering market-leading players.

-Conclusive study about the growth plot of Asia-Pacific Electrically-Powered Hydraulic Steering market for forthcoming years.

-In-depth understanding of Asia-Pacific Electrically-Powered Hydraulic Steering market-particular drivers, constraints and major micro markets.

-Favourable impression inside vital technological and market latest trends striking the Asia-Pacific Electrically-Powered Hydraulic Steering market.

What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on regional scale.

Analytical Tools: The Asia-Pacific Electrically-Powered Hydraulic Steering Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

The report has 150 tables and figures browse the report description and TOC:

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