Italy Electric Power Steering Market Size (2024 - 2029)

The market size of the Italy Automotive Electric Power Steering sector is anticipated to expand significantly during the forecast period, driven by the integration of advanced steering sensors that enhance driver safety. The implementation of stringent fuel economy regulations and safety initiatives by governments and international bodies is propelling the development of these systems. 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 technology is particularly beneficial for large commercial vehicles, which require higher torque and experience more constant use compared to passenger cars.

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Market Size of Italy Electric Power Steering 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

Italy Electric Power Steering Market Major Players

*Disclaimer: Major Players sorted in no particular order

Italy Electric Power Steering 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.

Italy Electric Power Steering Industry Segmentation

The Italy 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 Italy.

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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Italy Electric Power Steering Market Size Summary

The Italy automotive electric power steering (EPS) market is experiencing significant growth, driven by the increasing integration of advanced steering sensors that enhance driver safety. The shift from traditional hydraulic systems to EPS, which utilizes digital sensors and motors, is a key factor in this expansion. This transition not only improves fuel efficiency by eliminating the need for constant power draw from hydraulic pumps but also aligns with stringent government regulations on fuel economy and safety. Major automotive manufacturers, such as Ford and Infiniti, are incorporating adaptive steering systems that utilize precision-controlled actuators and torque sensors to enhance vehicle maneuverability and safety. The demand for EPS is particularly strong in commercial vehicles, where higher torque and constant use necessitate more efficient steering solutions.

The market is also influenced by the growing emphasis on safety features in vehicles, as evidenced by the adoption of advanced safety systems across various vehicle segments. The increasing awareness of road safety, coupled with government initiatives to reduce accident rates, is prompting consumers to prefer vehicles equipped with superior safety technologies. Companies like Robert Bosch GmbH, Continental AG, and TE Connectivity are leading the market, with strategic partnerships and collaborations enhancing their competitive edge. The development of innovative steering sensors, such as those by Hella and Infineon Technologies, further supports the market's growth by offering enhanced functionality and safety compliance. As the market evolves, the focus on integrating advanced EPS systems in both passenger and commercial vehicles is expected to continue, driven by technological advancements and regulatory pressures.

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Italy Electric Power Steering 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

Italy Electric Power Steering Market Size FAQs

The Italy Electric Power Steering 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 Italy Electric Power Steering Market.

Italy Electric Power Steering Report Snapshots

Italy Automotive Electric Power Steering Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)