Japan Vehicle Electric Power Steering (EPS) System Market was valued at USD 4 Billion in 2022 and is projected to reach USD 6 Billion by 2030, growing at a CAGR of 7% from 2024 to 2030.
The Japan Vehicle Electric Power Steering (EPS) System Market is experiencing significant growth, driven by increasing demand for fuel-efficient and eco-friendly vehicle technologies. The EPS system has gained widespread adoption due to its ability to improve vehicle handling, fuel economy, and reduce the overall weight of the steering mechanism. As more automakers strive to develop greener and more efficient vehicles, the role of EPS systems has become pivotal in the automotive industry. This shift towards electric systems is not only transforming the steering mechanism but also contributing to the evolution of smart driving technologies.
In Japan, a country at the forefront of automotive innovation, the Vehicle Electric Power Steering (EPS) System Market is particularly driven by a combination of government regulations, consumer demand for advanced safety features, and technological advancements. By eliminating the need for hydraulic fluids, EPS systems offer a more sustainable and cost-effective alternative. The automotive industry’s commitment to reducing carbon footprints has been a major catalyst for the widespread use of EPS systems, as it directly contributes to reducing vehicle weight and enhancing fuel efficiency.
Furthermore, industries such as the commercial vehicle and electric vehicle sectors are pushing the demand for EPS systems even higher. The growing adoption of electric vehicles (EVs) has created a need for more energy-efficient technologies that can maximize the performance of these vehicles while minimizing energy consumption. EPS systems are particularly well-suited for EVs due to their lightweight and energy-efficient nature, helping to extend the range of EVs without compromising on performance or handling.
Technologically, the shift to electric power steering also paves the way for more advanced driver assistance systems (ADAS), such as lane-keeping assist, automated parking, and self-driving capabilities. The demand for these systems has prompted major manufacturers in Japan to integrate EPS systems into their vehicles to improve safety and enhance the driving experience.
With growing competition among automakers, the future of the Vehicle Electric Power Steering (EPS) System Market looks promising. As industries continue to demand higher performance, reduced energy consumption, and greater sustainability, the EPS market in Japan is poised to experience significant expansion. Furthermore, ongoing research and development in EPS technologies promise to further refine steering systems, creating a competitive edge in the evolving automotive industry.
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Zhejiang Shibao
Elite
Yubei (Xinxiang) Power Steering System
JTEKT
Bosch
Nexteer Automobile
ZF
NSK
Hitachi Astemo (Showa )
Mobis
Thyssenkrupp
Mando
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Japan Vehicle Electric Power Steering (EPS) System Market
Column-assist EPS
Rack-assist EPS
Pinion-assist EPS
Passenger Vehicles
Commercial Vehicles
Electric Vehicles (EVs)
Steering Column
Electronic Control Unit (ECU)
Actuators
Sensors
OEMs (Original Equipment Manufacturers)
Aftermarket Providers
Torque Sensor Technology
Feedback Control Technology
Variable Gear Ratio Technology
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the Japan Vehicle Electric Power Steering (EPS) System Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Japan Vehicle Electric Power Steering (EPS) System Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Japan Vehicle Electric Power Steering (EPS) System Market, By Type
6. Japan Vehicle Electric Power Steering (EPS) System Market, By Application
7. Japan Vehicle Electric Power Steering (EPS) System Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. Japan Vehicle Electric Power Steering (EPS) System Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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