Argentina Automotive EPS Market Size (2024 - 2029)

The Argentina Automotive EPS market is experiencing growth driven by the integration of advanced steering sensors that enhance driver safety and comply with stringent fuel economy and safety regulations. The market size is influenced by the fuel efficiency of electric power steering systems, which eliminate the need for constantly running hydraulic or manual pumps, leading to significant fuel savings and reduced CO2 emissions. This technology is particularly crucial for large commercial vehicles, which require higher torque and have more demanding usage patterns compared to passenger cars.

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Market Size of Argentina Automotive EPS Industry

Market_Overview
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.00 %
Market Concentration Medium

Major Players

Argentina Automotive EPS Market Major Players

*Disclaimer: Major Players sorted in no particular order

Argentina Automotive EPS Market Analysis

The Europe Automotive Electric Power Steering (EPS) Market is projected to grow with a CAGR of more than 6% during the forecast period.

  • The integration of numerous steering sensors in an electric power steering (EPS) helps provide additional safety benefits to the driver. Moreover, the enactment of stringent fuel economy norms, along with safety initiatives by the governments and international associations, are considered important drivers for the growth and development of the advanced steering systems.
  • Electric power steering systems are fuel-efficient as compared to the other alternatives, which is due to the absence of belt-driven hydraulic or manual pumps, which run constantly, whether assistance is required or not. EPS provides fuel savings as high as 0.4 l for every 100 km, along with a reduction in CO2 emissions of up to 7 g/km.
  • Major automakers have their own electric power steering systems such as Ford adaptive power steering. Adaptive steering systems of Ford utilize a precision-controlled actuator just inside the steering wheel, without making any changes to its traditional steering system. Adaptive steering makes the car more nimble and easier to turn.
  • Large commercial vehicles, such as buses and trucksare different from passenger cars, as the large vehicles have the requirementof higher torque to provide steering assistance, additionally they have much higher mileages, heavier loads and more constant use than passenger cars, due to all the above reasons EPS is a much needed solution for commercial vehicles.

Argentina Automotive EPS Industry Segmentation

The Argentina automotive EPS market covers the latest trends and technological development and market demand by type, component type, vehicle type, country, and market share of major automotive EPS manufacturing companies across Argentina.

By Type
Column Type,
Pinion Type
Dual Pinion Type
By Component Type
Steering Rack/Column
Sensor
Steering Motor
Other Components
By Vehicle Type
Passenger Cars
Commercial Vehicles
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Argentina Automotive EPS Market Size Summary

The Argentina automotive EPS market is experiencing growth driven by the increasing integration of advanced steering sensors that enhance driver safety. The shift from traditional hydraulic power steering systems to electric power steering (EPS) systems is a significant trend, as EPS systems replace hydraulic components with digital sensors and motors, offering improved fuel efficiency and reduced CO2 emissions. This transition is supported by stringent government regulations on fuel economy and safety, which are encouraging the adoption of advanced steering systems. Major automotive manufacturers, such as Ford and Infiniti, are incorporating adaptive steering technologies that enhance vehicle maneuverability and safety. The market is moderately consolidated, with key players like Robert Bosch GmbH, Continental AG, and TE Connectivity leading the way through strategic partnerships and collaborations.

The demand for EPS systems is particularly strong in commercial vehicles, where the need for higher torque and constant use makes EPS a vital solution. The market is also influenced by advancements in sensor technology, such as Hella's Torque and Angle Sensor and Infineon Technologies' linear Hall sensor, which enhance the functionality and safety of EPS systems. As consumers become more safety-conscious, there is a growing interest in vehicles equipped with advanced safety features, which is further propelling the market's growth. The collaboration between companies like NSK Ltd. and Volkswagen AG highlights the importance of strategic alliances in maintaining a competitive edge in the market. Overall, the Argentina automotive EPS market is poised for continued expansion, driven by technological advancements and regulatory support.

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Argentina Automotive EPS Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Column Type,

      2. 2.1.2 Pinion Type

      3. 2.1.3 Dual Pinion Type

    2. 2.2 By Component Type

      1. 2.2.1 Steering Rack/Column

      2. 2.2.2 Sensor

      3. 2.2.3 Steering Motor

      4. 2.2.4 Other Components

    3. 2.3 By Vehicle Type

      1. 2.3.1 Passenger Cars

      2. 2.3.2 Commercial Vehicles

Argentina Automotive EPS Market Size FAQs

The Argentina Automotive EPS Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

Robert Bosch GmbH , NSK Ltd., ZF Friedrichshafen AG, JTEKT Corporation and Nexteer Automotive Group Ltd are the major companies operating in the Argentina Automotive EPS Market.

Argentina Automotive EPS Report Snapshots

Argentina Automotive EPS Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)