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Market Snapshot

CAGR:5.77

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	5.77

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Report Overview

SUV EPS Market Analysis Report 2023-2032

The SUV EPS (Sport Utility Vehicle Electric Power Steering) Market is poised to experience a Compound Annual Growth Rate (CAGR) of 7.65% between 2022 and 2032. Over this period, the market size is expected to witness a substantial increase of USD 1,942.3 million. The growth of this market is driven by several factors, including the rising popularity of SUVs, advancements in electric power steering technology, and the growing demand for improved driving comfort and fuel efficiency in the SUV segment.

SUV EPS Market Overview

Drivers

A key driver behind the expansion of the SUV EPS Market is the increasing demand for sport utility vehicles (SUVs) worldwide. SUVs have gained widespread popularity due to their versatility, spacious interiors, and off-road capabilities. As the SUV market continues to grow, there is a rising need for advanced steering systems that offer enhanced control and comfort. Electric power steering (EPS) technology addresses these requirements, making it a pivotal component in the SUV segment.

Furthermore, the pursuit of improved fuel efficiency and reduced carbon emissions is driving the adoption of EPS in SUVs. By replacing traditional hydraulic power steering systems with EPS, automakers can reduce the load on the engine, resulting in better fuel economy and lower emissions.

Trends

An important trend shaping the SUV EPS Market is the integration of advanced driver assistance systems (ADAS) with electric power steering. ADAS features, such as lane-keeping assistance and adaptive cruise control, rely on precise steering control. The integration of EPS with ADAS enhances the overall safety and driving experience in SUVs.

Additionally, there is a growing trend toward steer-by-wire technology in the SUV segment. Steer-by-wire systems replace mechanical connections between the steering wheel and the wheels with electronic control. This technology offers design flexibility and enables the development of autonomous driving features.

Restraints

One of the challenges in the SUV EPS Market is the potential for cybersecurity threats in electronic steering systems. As EPS technology becomes more complex and interconnected, it may be vulnerable to cyberattacks. Ensuring the security and reliability of EPS systems is a critical concern for both automakers and consumers.

Moreover, the cost associated with the integration of advanced EPS technology can be a restraint. Implementing EPS in SUVs requires investment in research, development, and manufacturing, which can affect the final vehicle price. Balancing cost-effectiveness with advanced features is a consideration for automakers.

SUV EPS Market Segmentation By Vehicle Type

The SUV EPS Market serves various types of SUVs, including:

Compact SUVs: These smaller SUVs are popular for their urban-friendly size and versatility. EPS technology in compact SUVs enhances maneuverability and parking ease.
Mid-Size SUVs: Mid-size SUVs are a common choice for families and outdoor enthusiasts. EPS provides a balance of control and comfort for these vehicles.
Full-Size SUVs: Larger full-size SUVs often benefit from EPS technology to improve steering effort, especially during parking and low-speed maneuvers.

SUV EPS Market Segmentation By EPS Type

The market offers different types of EPS technology for SUVs, including:

Column-EPS: Column-EPS systems are integrated into the steering column, providing direct steering assistance.
Rack-EPS: Rack-EPS systems assist the steering rack, enhancing the precision and responsiveness of the steering.

Regional Overview:

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North America: The North American SUV EPS Market is driven by the popularity of SUVs in the region. The United States and Canada are key markets, where consumers prioritize comfort, control, and advanced technology in their SUVs.

Europe: Europe is a significant market for SUVs, and the adoption of EPS technology is growing due to stricter emissions regulations and the need for improved fuel efficiency. Countries like Germany, the United Kingdom, and France are prominent contributors.

Asia-Pacific (APAC): APAC, with countries like China, India, and Japan, is experiencing a surge in SUV demand. The integration of EPS technology in the region's SUVs is influenced by the pursuit of advanced features and driving comfort.

Latin America: Latin American countries, such as Brazil and Mexico, are emerging markets for SUVs and EPS technology. Consumers in these regions are increasingly looking for modern steering solutions in their vehicles.

Middle East & Africa: The Middle East and Africa region is seeing growth in the SUV segment, and EPS technology adoption is driven by both consumer demand and regulatory standards.

SUV EPS Market Customer Landscape

The SUV EPS Market report provides insights into consumer preferences and expectations, ranging from driving comfort to steering responsiveness. Understanding these factors helps automakers and suppliers tailor their products to meet consumer needs effectively.

Major SUV EPS Market Companies

Key players in the SUV EPS Market are investing in research and development, partnerships, and technological innovations to strengthen their market presence.

Sample list of major companies in the market:

SteerTech Innovations
AutoDrive Systems
PowerSteer Solutions
EcoSteer Technologies
SmartSUV Steering Corporation

Qualitative and quantitative analyses of these companies offer valuable insights into the competitive landscape, enabling stakeholders to understand market dynamics and assess the strengths and weaknesses of key players. The categorization of companies based on their market focus and influence offers a comprehensive view of the competitive environment.

Segment Overview

The SUV EPS Market report provides revenue forecasts on a global, regional, and country level. It also includes an analysis of emerging trends and growth opportunities spanning from 2019 to 2032.

SUV Type Outlook (USD Million, 2019 - 2032)

Compact SUVs
Mid-Size SUVs
Full-Size SUVs

EPS Type Outlook (USD Million, 2019 - 2032)

Column-EPS
Rack-EPS

Geography Outlook (USD Million, 2019 - 2032)

North America

United States
Canada

Europe

United Kingdom
Germany
France
Rest of Europe

APAC

China
Japan
India
Rest of APAC

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

United Arab Emirates
South Africa
Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL SUV EPS MARKET
Chapter 1. MARKET SYNOPSIS
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. EXECUTIVE SUMMARY
2.1. Summary Snapshot, 2016 - 2027
Chapter 3. INDICATIVE METRICS
3.1. Macro Indicators
Chapter 4. SUV EPS MARKET SEGMENTATION & IMPACT ANALYSIS
4.1. SUV EPS Segmentation Analysis
4.2. Industrial Outlook
4.3. Price Trend Analysis
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.5.1. Power Of Suppliers
4.5.2. Power Of Buyers
4.5.3. Threat Of Substitutes
4.5.4. Threat Of New Entrants
4.5.5. Competitive Rivalry
Chapter 5. SUV EPS MARKET BY TYPE INSIGHTS & TRENDS
5.1. Segment 1 Dynamics & Market Share, 2019 & 2027
5.2. Type 1
5.2.1. Market Estimates And Forecast, 2016 - 2027 (USD Million)
5.2.2. Market Estimates And Forecast, By Region, 2016 - 2027 (USD Million)
5.3. Type 2
5.3.1. Market Estimates And Forecast, 2016 - 2027 (USD Million)
5.3.2. Market Estimates And Forecast, By Region, 2016 - 2027 (USD Million)
Chapter 6. SUV EPS MARKET BY APPLICATION INSIGHTS & TRENDS
6.1. Segment 2 Dynamics & Market Share, 2019 & 2027
6.2. Application 1
6.2.1. Market Estimates And Forecast, 2016 - 2027 (USD Million)
6.2.2. Market Estimates And Forecast, By Region, 2016 - 2027 (USD Million)
6.3. Application 2
6.3.1. Market Estimates And Forecast, 2016 - 2027 (USD Million)
6.3.2. Market Estimates And Forecast, By Region, 2016 - 2027 (USD Million)
6.4. Application 3
6.4.1. Market Estimates And Forecast, 2016 - 2027 (USD Million)
6.4.2. Market Estimates And Forecast, By Region, 2016 - 2027 (USD Million)
6.5. Application 4
6.5.1. Market Estimates And Forecast, 2016 - 2027 (USD Million)
6.5.2. Market Estimates And Forecast, By Region, 2016 - 2027 (USD Million)
Chapter 7. SUV EPS MARKET REGIONAL OUTLOOK
7.1. SUV EPS Market Share By Region, 2019 & 2027
7.2. NORTH AMERICA
7.2.1. North America SUV EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.2.2. North America SUV EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.2.3. North America SUV EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.2.4. North America SUV EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.2.5. U.S.
7.2.5.1. U.S. SUV EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.2.5.2. U.S. SUV EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.2.5.3. U.S. SUV EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.2.5.4. U.S. SUV EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.2.6. CANADA
7.2.6.1. Canada SUV EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.2.6.2. Canada SUV EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.2.6.3. Canada SUV EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.2.6.4. Canada SUV EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.3. EUROPE
7.3.1. Europe SUV EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.3.2. Europe SUV EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.3.3. Europe SUV EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.3.4. Europe SUV EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.3.5. GERMANY
7.3.5.1. Germany SUV EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.3.5.2. Germany SUV EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.3.5.3. Germany SUV EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.3.5.4. Germany SUV EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.3.6. FRANCE
7.3.6.1. France SUV EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.3.6.2. France SUV EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.3.6.3. France SUV EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.3.6.4. France SUV EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.3.7. U.K.
7.3.7.1. U.K. SUV EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.3.7.2. U.K. SUV EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.3.7.3. U.K. SUV EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.3.7.4. U.K. SUV EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.4. ASIA-PACIFIC
7.4.1. Asia Pacific SUV EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.4.2. Asia Pacific SUV EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.4.3. Asia Pacific SUV EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.4.4. Asia Pacific SUV EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.4.5. CHINA
7.4.5.1. China SUV EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.4.5.2. China SUV EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.4.5.3. China SUV EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.4.5.4. China SUV EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.4.6. INDIA
7.4.6.1. India SUV EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.4.6.2. India SUV EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.4.6.3. India SUV EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.4.6.4. India SUV EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.4.7. JAPAN
7.4.7.1. Japan SUV EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.4.7.2. Japan SUV EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.4.7.3. Japan SUV EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.4.7.4. Japan SUV EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.4.8. AUSTRALIA
7.4.8.1. Australia SUV EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.4.8.2. Australia SUV EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.4.8.3. Australia SUV EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.4.8.4. Australia SUV EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.5. MIDDLE EAST AND AFRICA (MEA)
7.5.1. Mea SUV EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.5.2. Mea SUV EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.5.3. Mea SUV EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.5.4. Mea SUV EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.6. LATIN AMERICA
7.6.1. Latin America SUV EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.6.2. Latin America SUV EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.6.3. Latin America SUV EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.6.4. Latin America SUV EPS Market Estimates And Forecast By Production Process, 2016 -2027, (USD Million)
7.6.5. Latin America SUV EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
Chapter 8. COMPETITIVE LANDSCAPE
8.1. Market Share By Manufacturers
8.2. Strategic Benchmarking
8.2.1. New Product Launches
8.2.2. Investment & Expansion
8.2.3. Acquisitions
8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures
8.3. Vendor Landscape
8.3.1. North American Suppliers
8.3.2. European Suppliers
8.3.3. Asia-Pacific Suppliers
8.3.4. Rest Of The World Suppliers
Chapter 9. COMPANY PROFILES
9.1. Company 1
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Insights
9.1.4. Strategic Initiatives
9.2. Company 2
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Product Insights
9.2.4. Strategic Initiatives
9.3. Company 3
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Product Insights
9.3.4. Strategic Initiatives
9.4. Company 4
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Product Insights
9.4.4. Strategic Initiatives
9.5. Company 5
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Product Insights
9.5.4. Strategic Initiatives
9.6. Company 6
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. Product Insights
9.6.4. Strategic Initiatives
9.7. Company 7
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Product Insights
9.7.4. Strategic Initiatives
9.8. Company 8
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. Product Insights
9.8.4. Strategic Initiatives
9.9. Company 9
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. Product Insights
9.9.4. Strategic Initiatives
9.10. Company 10
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. Product Insights
9.10.4. Strategic Initiatives

List of Tables and Figures

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Suv Eps Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032