Brazil Automotive EPS Market Size (2024 - 2029)

The Brazil Automotive EPS Market is anticipated to experience growth driven by the integration of advanced steering sensors that enhance safety and comply with stringent fuel economy and safety regulations. Electric power steering systems are gaining traction due to their fuel efficiency and ability to reduce CO2 emissions, making them a preferred choice over traditional hydraulic or manual systems. This market expansion is further supported by the demand for EPS in large commercial vehicles, which require higher torque and offer greater mileage and load capacity compared to passenger cars.

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Market Size of Brazil 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 4.00 %
Market Concentration Medium

Major Players

Brazil Automotive EPS Market Major Players

*Disclaimer: Major Players sorted in no particular order

Brazil Automotive EPS Market Analysis

The Brazil Automotive EPS Market is projected to grow with a CAGR of more than 4% 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 trucks are different from passenger cars, as the large vehicles have the requirement of 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.

Brazil Automotive EPS Industry Segmentation

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

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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Brazil Automotive EPS Market Size Summary

The Brazil Automotive EPS Market is poised for significant 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 key trend, as EPS offers 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, are developing their own EPS solutions, like adaptive steering systems, which enhance vehicle maneuverability without altering the traditional steering mechanism. The demand for EPS is particularly strong in commercial vehicles, where higher torque and constant use necessitate more efficient steering solutions.

The market is characterized by moderate consolidation, with prominent players like Robert Bosch GmbH, Continental AG, and TE Connectivity leading the charge. These companies are actively engaging in partnerships and collaborations to strengthen their market positions. Technological advancements in steering sensors, such as those showcased by Hella and Infineon Technologies, are further propelling market growth. As consumers increasingly prioritize safety and fuel efficiency, the demand for vehicles equipped with advanced EPS systems is expected to rise. This trend is supported by ongoing improvements in vehicle safety standards and the growing awareness of the benefits of EPS technology in reducing road accidents and enhancing vehicle performance.

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Brazil 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

Brazil Automotive EPS Market Size FAQs

The Brazil Automotive EPS Market is projected to register a CAGR of greater than 4% 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 Brazil Automotive EPS Market.

Brazil Automotive EPS Report Snapshots

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