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United Kingdom Automotive EPS Market Size, Forecast: By Product Type: Rack Assist Type (REPS), Column Assist Type (CEPS), Pinion Assist Type (PEPS); By Component Type: Steering Rack/Column, Sensor, Steering Motor, Others; By Vehicle Type: Passenger Cars, Commercial Vehicles; By Sales Channel; Competitive Landscape; 2024-2032
United Kingdom Automotive EPS Market Outlook
The United Kingdom automotive EPS market size reached nearly USD 1.49 billion in 2023. The market is projected to grow at a CAGR of 6.10% between 2024 and 2032 to reach a value of around USD 2.53 billion by 2032.
Key Trends in the Market
Automotive EPS, variously known as an automotive electric power steering system, refers to a type of steering technology which uses electric motors to control the vehicle steering. EPS facilitates highly automated driving, smooth ride, enhanced accessibility, and improved driving performance.
- Automotive EPS system improves fuel efficiency, eradicates the hassle of hydraulic fluid maintenance, and can be automatically adjusted to a crosswind or uneven road surface. Such advantages offered by EPS systems are fuelling the United Kingdom automotive EPS market growth.
- The thriving automotive sector in the United Kingdom is further boosting the incorporation of automotive EPS in passenger and commercial vehicles. Moreover, the increasing trend of autonomous vehicles is likely to surge the adoption of EPS systems that can monitor and automate steering movements.
- The rapid transition from traditional hydraulic steering systems towards EPS systems, owing to their lower maintenance, is one of the crucial United Kingdom automotive EPS market trends.
Market Analysis
Based on product type, the market is segmented into rack assist type (REPS), column assist type (CEPS), and pinion assist type (PEPS). By component type, the market is divided into steering rack/column, sensor, and steering motor, among others. On the basis of vehicle type, the market is classified into passenger cars and commercial vehicles. Based on sales channel, the United Kingdom automotive EPS market segmentations include original equipment manufacturer (OEM) and aftermarket.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the United Kingdom automotive EPS market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Robert Bosch GmbH
- Hitachi Limited
- Infineon Technologies AG
- Mitsubishi Electric Corporation
- ZF Friedrichshafen AG
- BMW AG
- GKN Automotive Limited
- JTEKT Corporation
- NSK Ltd.
- Hyundai Motor Company
- Others
Market Share by Component Type
Sensors account for a significant portion of the United Kingdom automotive EPS market share. EPS sensors offer excellent adjustability while handling steering. The lightweight benefits of the sensors enable the drivers to attain greater control over driving. Sensors also reduce the load on engines, which leads to higher fuel efficiency. Moreover, in EPS sensors, electric current is used as per requirement, which is a major advantage that improves vehicle performance.
Market Share by Vehicle Type
As per the United Kingdom automotive EPS market analysis, passenger cars are expected to witness a healthy growth in the forecast period, owing to the increasing sales of electric and plug-in hybrid vehicles in the country. In addition, the development of advanced EPS systems with features such as crosswind compensation and lane keep assist, among others, is anticipated to fuel the segment’s growth in the coming years.
Competitive Landscape
Robert Bosch GmbH is a leading engineering company which manufactures home appliances, automotive components, power tools, garden tools, measuring tools, and smart home components, among others. The company was founded in 1886 and is headquartered in Gerlingen, Germany.
Hitachi Limited is a multinational corporation which develops and sells measurement and analytical systems, building systems, and automotive systems, among others. The automotive product portfolio of this company includes engine management, drive control, and car information systems, among others.
Infineon Technologies AG is a company which offers high-quality semiconductor and electronic systems for the automotive sector. The portfolio of the company includes connectivity, sensing, control, and power management systems, among others.
Other United Kingdom automotive EPS market players include Mitsubishi Electric Corporation, ZF Friedrichshafen AG, BMW AG, GKN Automotive Limited, JTEKT Corporation, NSK Ltd., and Hyundai Motor Company, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Component Type |
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| Breakup by Vehicle Type |
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| Breakup by Sales Channel |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Automotive EPS Market Overview
8.1 Key Industry Highlights
8.2 Global Automotive EPS Historical Market (2018-2023)
8.3 Global Automotive EPS Market Forecast (2024-2032)
8.4 Global Automotive EPS Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 United Kingdom Automotive EPS Market Overview
9.1 Key Industry Highlights
9.2 United Kingdom Automotive EPS Historical Market (2018-2023)
9.3 United Kingdom Automotive EPS Market Forecast (2024-2032)
10 United Kingdom Automotive EPS Market by Product Type
10.1 Rack Assist Type (REPS)
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Column Assist Type (CEPS)
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Pinion Assist Type (PEPS)
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 United Kingdom Automotive EPS Market by Component Type
11.1 Steering Rack/Column
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Sensor
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Steering Motor
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Others
12 United Kingdom Automotive EPS Market by Vehicle Type
12.1 Passenger Cars
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Commercial Vehicles
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 United Kingdom Automotive EPS Market by Sales Channel
13.1 Original Equipment Manufacturer (OEM)
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Aftermarket
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Robert Bosch GmbH
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Hitachi Limited
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Infineon Technologies AG
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Mitsubishi Electric Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 ZF Friedrichshafen AG
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 BMW AG
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 GKN Automotive Limited
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 JTEKT Corporation
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 NSK Ltd.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Hyundai Motor Company
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Automotive EPS Market: Key Industry Highlights, 2018 and 2032
2. United Kingdom Automotive EPS Market: Key Industry Highlights, 2018 and 2032
3. United Kingdom Automotive EPS Historical Market: Breakup by Product Type (USD Billion), 2018-2023
4. United Kingdom Automotive EPS Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
5. United Kingdom Automotive EPS Historical Market: Breakup by Component Type (USD Billion), 2018-2023
6. United Kingdom Automotive EPS Market Forecast: Breakup by Component Type (USD Billion), 2024-2032
7. United Kingdom Automotive EPS Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
8. United Kingdom Automotive EPS Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
9. United Kingdom Automotive EPS Historical Market: Breakup by Sales Channel (USD Billion), 2018-2023
10. United Kingdom Automotive EPS Market Forecast: Breakup by Sales Channel (USD Billion), 2024-2032
11. United Kingdom Automotive EPS Market Structure
Key Questions Answered in the Report
The market reached a value of nearly USD 1.49 billion in 2023.
The market is estimated to grow at a CAGR of 6.10% in the forecast period of 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 2.53 billion by 2032.
The improved fuel efficiency, the thriving automotive sector in the United Kingdom, and the rapid transition from traditional hydraulic steering systems towards automotive EPS are the major drivers of the market.
The key trends in the market include the growing focus on improving the safety of vehicles and increasing sales of electric and plug-in hybrid passenger vehicles in the country.
Rack assist type (REPS), column assist type (CEPS), and pinion assist type (PEPS) are the different product types included in the market report.
Steering rack/column, sensor, and steering motor, among others, are the major component types of the product.
Robert Bosch GmbH, Hitachi Limited, Infineon Technologies AG, Mitsubishi Electric Corporation, ZF Friedrichshafen AG, BMW AG, GKN Automotive Limited, JTEKT Corporation, NSK Ltd., and Hyundai Motor Company, among others, are the key market players.
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