Market Size of Japan 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 | 6.00 % |
| Market Concentration | Medium |
Major Players_MAjor_player.webp "Japan Electrically Powered Hydraulic Steering Market Major Players")
*Disclaimer: Major Players sorted in no particular order |
Japan Electrically Powered Hydraulic Steering Market Analysis
The Japan electro-hydraulic power steering market is anticipated to register a CAGR of over 6% 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.
Japan Electrically Powered Hydraulic Steering Industry Segmentation
The Japan 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 electro-hydraulic power steering manufacturing companies across Japan.
| By Vehicle Type | |
| Passenger Vehicles | |
| Commercial Vehicles |
| By Component Type | |
| Steering Motor | |
| Sensors | |
| Other Components |
Japan Electrically Powered Hydraulic Steering Market Size Summary
The Japan electrically-powered hydraulic steering market is experiencing a notable growth trajectory, 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 ease the manual effort required for steering, particularly as tire sizes continue to expand. Among the various steering technologies, electro-hydraulic power steering (EHPS) stands out due to its ability to operate without an engine-driven hydraulic pump, utilizing an electric motor pump unit instead. This innovation is particularly beneficial for hybrid-electric vehicles, offering enhanced efficiency and control. The market is also witnessing advancements in electric power steering (EPS) technologies, which eliminate the need for hydraulic pressure altogether, resulting in simpler and more efficient systems that are easier to maintain.
The growing emphasis on energy savings in vehicle development, especially for heavy vehicles, is further propelling the adoption of EHPS systems, which offer significant fuel savings compared to conventional hydraulic systems. This is particularly advantageous for commercial vehicle owners, as it translates to cost benefits. The North American market, a significant hub for commercial vehicles, is a key area for the deployment of EHPS systems, with major players like JTEKT Corporation, Nexteer Automotive Group Ltd, ZF Friedrichshafen AG, NSK Ltd, and Robert Bosch GmbH leading the charge. These companies maintain strong partnerships with original equipment manufacturers (OEMs), positioning themselves as preferred suppliers in the steering systems market. As innovations continue to emerge, the EHPS market is expected to expand, particularly within the commercial vehicles segment.
Japan 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 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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Japan Electrically Powered Hydraulic Steering Market Size FAQs
What is the current Japan Electrically Powered Hydraulic Steering Market size?
The Japan Electrically Powered Hydraulic Steering Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Japan Electrically Powered Hydraulic Steering Market?
JTEKT Corporation, Nexteer Automotive Group Ltd, ZF Friedrichshafen AG, NSK Ltd and Robert Bosch GmbH are the major companies operating in the Japan Electrically Powered Hydraulic Steering Market.
