Market Size of Brazil Electrically Powered Hydraulic Steering Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Brazil Electrically Powered Hydraulic Steering Market Analysis
The Brazil electrically-hydraulic power steering market is anticipated to register a CAGR of over 8% during the forecast period (2020-2025).
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.
Brazil Electrically Powered Hydraulic Steering Industry Segmentation
The Brazil Electro-Hydraulic Power Steering Market report covers a detailed study on the latest trends and innovations in the market which is Segmented by Vehicle Type (Passenger Vehicles and Commercial Vehicles), Component Type (Steering Motor, Sensors, and Others). Along with the major players, their strategies, innovations, technological advancements and financials are also covered in the report.
| Component Type | |
| Sensors | |
| Steering Motor | |
| Others |
| Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicle |
Brazil Electrically Powered Hydraulic Steering Market Size Summary
The Brazil electrically-powered hydraulic steering market is experiencing significant growth, driven by the increasing weight of vehicles and the shift towards front-wheel drive systems. This transition has necessitated the adoption of power-assisted steering systems to reduce the manual effort required to turn the steering wheel. Electro-hydraulic power steering systems, which utilize an electric motor pump unit to supply hydraulic pressure, are becoming more prevalent. These systems offer the advantage of adjustable speed characteristics, providing more assistance at low speeds and less at high speeds, thereby enhancing vehicle control. The development of hybrid systems, which eliminate the need for engine-driven hydraulic pumps, is particularly beneficial for hybrid-electric vehicles, allowing for improved efficiency and reduced energy consumption.
The market is also witnessing a shift towards electric power steering (EPS) systems, which operate entirely on electronic mechanisms without relying on hydraulic pressure. EPS systems are more efficient and less complex than traditional hydraulic systems, making them easier to manufacture and maintain. Major automotive manufacturers and OEMs, such as Bosch, Nexteer, Ford, and Nissan, are increasingly adopting EPS technology, which may impact the growth of electro-hydraulic systems. The market is dominated by a few key players, including JTEKT Corporation, Nexteer Automotive Group Ltd, ZF Friedrichshafen AG, NSK Ltd, and Robert Bosch GmbH, who maintain strong partnerships with major OEMs. These companies hold a significant share of the market, leveraging their expertise and established relationships to remain competitive.
Brazil Electrically Powered Hydraulic Steering Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porters Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Component Type
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2.1.1 Sensors
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2.1.2 Steering Motor
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2.1.3 Others
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2.2 Vehicle Type
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2.2.1 Passenger Cars
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2.2.2 Commercial Vehicle
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Brazil Electrically Powered Hydraulic Steering Market Size FAQs
What is the current Brazil Electrically Powered Hydraulic Steering Market size?
The Brazil Electrically Powered Hydraulic Steering Market is projected to register a CAGR of greater than 8% during the forecast period (2024-2029)
Who are the key players in Brazil Electrically Powered Hydraulic Steering Market?
JTEKT Corporation, Nexteer Automotive Group, ZF, NSK Group and Robert Bosch GmbH are the major companies operating in the Brazil Electrically Powered Hydraulic Steering Market.
