Market Size of Italy Electro Hydraulic Power Steering Industry
| 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_MAjor_player.webp "Italy Electro Hydraulic Power Steering Market Major Players")
*Disclaimer: Major Players sorted in no particular order |
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Italy Electro Hydraulic Power Steering Market Analysis
The Italy electro-hydraulic power steering market is anticipated to register a CAGR of over 5% 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.
- Some of the advantages of power steering are 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.
Italy Electro Hydraulic Power Steering Industry Segmentation
The Italy electro-hydraulic power steering market covers the latest trends and technological development and market demand by vehicle type, component, country, and market share of major automotive EPS manufacturing companies across Italy.
| By Vehicle Type | |
| Passenger Vehicles | |
| Commercial Vehicles |
| By Component Type | |
| Steering Motor | |
| Sensors | |
| Other Components |
Italy Electro Hydraulic Power Steering Market Size Summary
The Italy electro-hydraulic power steering market is poised for significant growth, driven by the increasing weight of vehicles and the shift towards front-wheel drive systems. As vehicles become heavier and tire dimensions expand, the manual effort required for steering has risen, necessitating the adoption of power-assisted steering systems. Electro-hydraulic power steering (EHPS) systems, which utilize an electric motor pump unit to supply hydraulic pressure, offer advantages such as adjustable speed characteristics, enhancing vehicle control. This technology is particularly beneficial for hybrid-electric vehicles, allowing for improved efficiency by eliminating the need for engine-driven hydraulic pumps. Despite the advantages of EHPS, the market faces competition from fully electronic electric power steering (EPS) systems, which are more efficient and less complex, leading to increased adoption by major automotive manufacturers.
The market for electro-hydraulic power steering in Italy is supported by the growing demand for energy-efficient solutions in heavy vehicles, where traditional hydraulic power steering systems consume significant fuel. EHPS systems provide cost benefits through fuel savings, making them attractive to commercial vehicle owners. The presence of major players such as JTEKT Corporation, Nexteer Automotive Group Ltd, ZF Friedrichshafen AG, NSK Ltd, and Robert Bosch GmbH, who maintain strong partnerships with original equipment manufacturers (OEMs), further bolsters the market's growth prospects. As these companies continue to innovate, the EHPS market is expected to expand, particularly in the commercial vehicles segment, where it is widely employed.
Italy Electro Hydraulic Power 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 Industry Attractiveness - Porter's 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 By Vehicle Type
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2.1.1 Passenger Vehicles
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2.1.2 Commercial Vehicles
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2.2 By Component Type
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2.2.1 Steering Motor
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2.2.2 Sensors
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2.2.3 Other Components
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Italy Electro Hydraulic Power Steering Market Size FAQs
What is the current Italy Electro Hydraulic Power Steering Market size?
The Italy Electro Hydraulic Power Steering Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
What years does this Italy Electro Hydraulic Power Steering Market cover?
The report covers the Italy Electro Hydraulic Power Steering Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Italy Electro Hydraulic Power Steering Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
