Market Size of United States 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 "United States Electro Hydraulic Power Steering Market Major Players")
*Disclaimer: Major Players sorted in no particular order |
US Electro Hydraulic Power Steering Market Analysis
The United States 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.
US Electro Hydraulic Power Steering Industry Segmentation
The United States 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 the United States.
| By Vehicle Type | |
| Passenger Vehicles | |
| Commercial Vehicles |
| By Component Type | |
| Steering Motor | |
| Sensors | |
| Other Components |
United States Electro Hydraulic Power Steering Market Size Summary
The United States 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 without drawing power from the engine, offer advantages such as adjustable speed characteristics and improved fuel efficiency compared to conventional hydraulic systems. This technology is particularly beneficial for hybrid-electric vehicles, enhancing their performance and energy savings.
The market landscape is influenced by advancements in steering technologies, with electric power steering (EPS) systems gaining traction due to their efficiency and simplicity. EPS systems, which rely entirely on electric motors for assistance, are easier to manufacture and maintain, making them attractive to manufacturers and consumers alike. Major automotive players like Bosch, Nexteer, and Ford are investing in EPS technologies, potentially impacting the growth of EHPS systems. However, the demand for EHPS remains strong in North America, particularly in commercial vehicles such as heavy trucks and construction machinery, where fuel savings and cost benefits are critical. Key industry players, including JTEKT Corporation and ZF Friedrichshafen AG, maintain significant market shares through strategic partnerships with original equipment manufacturers (OEMs), ensuring their continued dominance in the electro-hydraulic power steering segment.
United States 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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United States Electro Hydraulic Power Steering Market Size FAQs
What is the current United States Electro Hydraulic Power Steering Market size?
The United States Electro Hydraulic Power Steering Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in United States Electro Hydraulic Power Steering Market?
JTEKT Corporation, Nexteer Automotive Group Ltd, ZF Friedrichshafen AG, NSK Ltd and Robert Bosch GmbH are the major companies operating in the United States Electro Hydraulic Power Steering Market.
