A study on the Electric Power Steering (EPS) Sensor Market has been conducted to understand the market situation in 2022.
Survey period: October 20-28, 2022
Survey Base: We surveyed 542 market players of all sizes.
Number of valid answers: 542
Survey method: 220 field surveys, 322 internet surveys
Survey Respondents: The survey was conducted among companies based on revenue. Survey results:
Q: What is the size of the global Electric Power Steering (EPS) sensor market? What is the projected revenue growth by the end of the forecast period?
The global electric power steering (EPS) sensor market will reach USD 16 billion in 2022. This market is estimated to generate USD 30 billion in revenue by 2035, at a CAGR of 8%.
Question: What are the main advantages of electric power steering sensors? Electric power steering (EPS) sensors are a key technology for achieving highly automated driving. These sensors are primarily used in electric power steering systems to measure the torque applied by the driver to the steering wheel. The data collected from these sensors help the electric control unit measure the necessary steering assistance that should be applied by the electric motor. Some of the main advantages of these EPS sensors are: –
Steering sensors assist drivers in parallel parking, which usually requires a lot of skill. These sensors are important in Perfect Lane for driving and parking assistance.
The EPS sensor improves driving performance by enhancing steering coordination. The main advantage of electric power steering with torque sensor is that the EPS sensor can more efficiently and quickly adapt to the gear variable driving mode compared to hydraulic power steering.
These sensors are very lightweight, which reduces the load on the engine and improves fuel economy.
Vehicles equipped with EPS sensors are inherently very environmentally friendly. These EPS sensors improve vehicle reliability and durability by minimizing safety-related incidents and failures.
Q: What are the factors driving the increasing demand in the electric power steering (EPS) sensor market?
Factors driving the growth of the market are: –
Rising Incidence of Road Traffic Accidents – The World Health Organization (WHO) reports that there are approximately 1.3 million road traffic deaths worldwide each year. Motorcyclists and pedestrians are half vulnerable and the other half are caused by side collisions. These accidents can be prevented by using electric power steering sensors in your vehicle.
Demand for Self-Driving Vehicles Soars- The development and deployment of electric, self-driving and connected cars has significantly boosted the EPS sensor market industry. Electronic vehicles are one of the fastest growing automotive segments, saving people time and increasing efficiency. The introduction of electric power steering sensors in vehicles has revolutionized the world of automation.
Strict Government Laws on Vehicle Safety – Governments are focused on enforcing strict safety laws and facilitating the deployment of various automotive subsystems such as EPS systems. As a result, automakers are incorporating several safety-enhancing elements into their vehicles, such as EPS systems. These developments are expected to increase the availability of EPS systems and the associated demand for EPS sensors.
EPS Sensor Provides Fuel Efficiency – The EPS sensor is lightweight, which reduces the load on the engine for better fuel economy. EPS System Innovation and Development – Key players in EPS technology are increasingly collaborating with academics and researchers who can provide guidance on various control theories to help improve EPS ergonomics.
Q: What are the challenges limiting the growth of the electric power steering (EPS) sensor market?
The challenges restraining the market are: :
Operational issues such as model uncertainty and external interference lead to malfunctions of EPS systems.
Electric motor problems can cause electronic power steering failure EPS systems cannot be modified using standard parts and labor like hydraulic systems. Specialized equipment and knowledge are required to diagnose and repair electrical problems that can be caused by failure of the on-board computer and various sensors.
Loss of mechanical feel and feedback.
Q: What are the classifications of the electric power steering (EPS) sensor market?
The electric power steering (EPS) sensor market is segmented into vehicle type, sensor type, and distribution channel.
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By vehicle type, the EPS sensor market is segmented into passenger vehicles and commercial vehicles. The passenger sub-segment of the EPS sensor market is projected to reach USD 11 billion in 2021 and surpass USD 21 billion by 2030. Rising popularity and demand for passenger cars as a preferred mode of transportation are driving the growth of this segment.
By sensor type, the market is segmented into speed sensors, steering torque sensors, and steering wheel position sensors. The steering torque sensor sub-segment is the fastest growing market. It will generate a revenue of USD 8,847.5 million by 2028, growing at a CAGR of 8.8% during the forecast period. Innovations in the steering torque sensor sub-segment, such as magnetostrictive sensors, magnetoelastic sensors, optical torque sensors, and non-contact torque sensors, are known to increase the efficiency of electric power steering (EPS). Therefore, this category presents a high growth potential.
Based on distribution channel, the market is segmented into original equipment manufacturer (OEM) and aftermarket. The aftermarket sub-segment is the fastest growing market. It will generate a revenue of USD 9 billion by 2028, growing at a CAGR of 8.6% over the next decade.
Q: Who are the key players in the electric power steering (EPS) sensor market and what are the recent developments?
Robert Bosch GmbH, DENSO Corporation, HELLA GmbH & Co. KgaA, Valeo SA, Continental AG, TT Electronics Plc, NXP Semiconductors, Asahi Kasei, Infineon Technology, Sensata Technologies, etc. are prominent players in the electric power steering (EPS) sensor market. Player.
Latest developments in this field
Robert Bosch has launched its latest MEMS sensor, the SMI230. The SMI230 helps ensure uninterrupted navigation and realistically portray vehicle movements.
DENSO Corporation has developed a new electric power steering motor control unit (EPS-MCU) that improves vehicle handling and safety and will soon be installed in vehicles from various automakers.
Valeo and the BMW Group are working together to launch advanced driver assistance systems. Valeo will provide ADAS domain controllers, sensors, parking and maneuvering software for BMW’s next-generation Neue Klasse platform, due to be launched in 2025.
Q: Which regions are expected to offer lucrative growth opportunities in the global electric power steering (EPS) sensors market?
The Asia-Pacific electric power steering (EPS) sensor market will account for the largest growth in 2021, with a revenue of US$5 billion in 2021 and is projected to reach US$12 billion by 2030. I’m here. The factors driving the significant growth of the market in this region are China, Japan and India being the leaders in the global automotive market. China will record strong growth in vehicle production and sales in 2022. Cumulative production and sales from January to November were 24.628 million units and 24.302 million units
respectively, making China the world’s largest automobile market. Japan and India were third and fourth respectively.
Asia Pacific is followed closely by North America and Europe. [Image 4
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