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Historical Year
Forecast Year
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.
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.
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.
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.
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.
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.
| 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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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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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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