Electric Power Steering (EPS) System Market, By Type (Column Assist Type (CEPS), Pinion Assist Type (PEPS), and Rack Assist Type (REPS)), By Component (Steering Rack/Column, Sensor, Steering Motor, and Others), By Vehicle Type (Passenger Car, Light Commercial Vehicles, Heavy Commercial Vehicles, and Buses & Coaches) By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Jul 2024

Code : CMI4991

Pages :205

Formats :

Excel and PDF

Industry : Consumer Electronics

Key Developments

In September 2022, NOK Corporation, a leading Japan-based manufacturer specializing in oil seals and automotive components, announced a capital investment of US$ 500 million at its Tottori Plant. This investment aims to enhance the production of anti-vibration and soundproofing devices used in electric power steering (EPS), brakes, and gears for electric vehicles over the next three years. NOK Corporation holds a significant share of the oil-seal market, with a focus on developing products that align with the trends in electrification and autonomous driving.
In August 2022, NSK Ltd., a prominent Japan-based manufacturer specializing in precision machinery and automotive components, announced its plans to revamp its steering operations. The company received a significant order for electric power steering (EPS) systems from the Volkswagen (VW) Group and is set to begin volume production in the spring of 2023. This collaboration highlights NSK's commitment to advancing steering technologies for electric vehicles, further solidifying its position in the automotive market.
In June 2022, Robert Bosch GmbH, a leading global supplier of technology and services, announced plans to strengthen its production and development capabilities in the field of mobility in Japan. As part of this initiative, the company will transfer the assembly line for electric power steering (EPS) systems destined for Japanese automakers from its plant outside Japan to its Musashi Plant located in Namegawa Town, Saitama Prefecture.
In March 2022, Thyssenkrupp AG, a Germany-based multinational conglomerate specializing in industrial engineering and steel production, and NSK Ltd. signed a memorandum of understanding (MoU) to explore a potential joint venture between Thyssenkrupp Automotive and NSK's steering division. This collaboration aims to achieve technological and strategic alignment between Thyssenkrupp's automotive business and NSK's steering division, leveraging their complementary strengths to meet the evolving needs of the automotive industry.
In January 2022, as part of its strategy to consolidate operations in the Indian market, ZF Friedrichshafen AG, a leading global technology company specializing in mobility systems, acquired a majority 51% stake in the Rane TRW Steering Systems joint venture with the Rane Group, an established Indian automotive component manufacturer. The joint venture, which previously had equal shareholding between the two partners, will now operate under the name ZF Rane Automotive India.
In August 2021, Nexteer Automotive (HK 1316), a global leader in intuitive motion control and a multi-billion dollar global steering and driveline business, announced the expansion of its pinion electric power steering (EPS) systems to meet the needs of heavier electric vehicles (EVs) in segments B through D. Nexteer's new high-output options for Single Pinon-Assist EPS (SPEPS) and Dual Pinion-Assist EPS (DPEPS) systems increase the steering capability by 12 to 20% – up to 14.5 kilonewtons (kN) for DPEPS and up to 12.5kN for SPEPS. These high-output solutions benefit OEM customers by enabling them to steer heavier EV loads without the need to move up to more premium EPS technologies traditionally employed for larger segment vehicles.