North America Electrically-Powered Hydraulic Steering Market Astonishing Growth with Top Influencing Key Players like JTEKT Corporation, Nexteer Automotive, NSK Ltd

The report presents an in-depth assessment of the North America Electrically-Powered Hydraulic Steering Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for North America Electrically-Powered Hydraulic Steering investments from 2021 till 2025. This research report also provides post COVID-19 impact analysis of the North America Electrically-Powered Hydraulic Steering industry.

North America Electrically-Powered Hydraulic Steering market is growing at a CAGR of 4.2% during the forecast period (2021-2025).

The North America Electrically-Powered Hydraulic Steering market is highly competitive and consists of a number of major players. Top Companies like JTEKT Corporation, Nexteer Automotive, NSK Ltd, Robert Bosch GmbH, ZF Friedrichshafen AG, Showa Group, Danfoss, Continental AG, Thyssenkrupp Presta AG, Mando Corporation

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Scope of the Report

– 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.

Key Market Trends

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

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 is Expected to Witness High Growth

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.

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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 a global and regional scale.

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.

Analytical Tools: North America 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, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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