Van Eps Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032
- Report ID: ME_0098952
- Format: Electronic (PDF)
- Publish Type: Publish
- Number of Pages: 250
Market Snapshot
Source: Market Expertz
| Study Period | 2019-2032 |
| Base Year | 2023 |
| Forcast Year | 2023-2032 |
| CAGR | 6.84 |
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Van EPS Market Analysis Report 2023-2032
The Van EPS (Electric Power Steering) Market is expected to witness a Compound Annual Growth Rate (CAGR) of 7.92% between 2022 and 2032. Over this period, the market size is projected to increase substantially by USD 2,345.7 million. The growth of this market can be attributed to several factors, including the increasing demand for energy-efficient and advanced steering systems, regulatory initiatives promoting electric vehicle adoption, and the continuous pursuit of enhanced vehicle safety and driver assistance systems. The market encompasses components and services related to electric power steering systems in various vehicle types, offering drivers improved control and comfort.
Van EPS Market Overview
Drivers
A significant driver behind the expansion of the Van EPS Market is the growing demand for energy-efficient and advanced steering systems. Electric power steering systems are known for their efficiency in reducing power consumption compared to traditional hydraulic systems. This energy efficiency aligns with the automotive industry's commitment to sustainability and reduced carbon emissions.
Regulatory initiatives and incentives that promote electric vehicle (EV) adoption are also driving market growth. Many governments worldwide are offering incentives for electric vehicles, pushing automakers to incorporate electric power steering systems in their EV models. The need for advanced steering systems in EVs is vital for optimizing driving experiences and energy consumption.
Trends
An important trend shaping the Van EPS Market is the integration of advanced driver assistance systems (ADAS). Electric power steering systems play a crucial role in enabling ADAS functionalities such as lane-keeping assistance, park assist, and adaptive cruise control. The trend toward self-driving and semi-autonomous vehicles is fostering the demand for electric power steering systems to facilitate these features.
Additionally, the market is witnessing the development of steer-by-wire systems. These systems eliminate the mechanical connection between the steering wheel and the wheels, providing greater flexibility in vehicle design and enabling novel cabin layouts. Steer-by-wire technology is gradually gaining traction in the market, especially in advanced and luxury vehicles.
Restraints
Economic factors and manufacturing costs can present challenges for the Van EPS Market. Fluctuations in economic conditions can affect consumers' purchasing power and, subsequently, the demand for vehicles equipped with advanced electric power steering systems. High manufacturing costs can impact product prices and profit margins for component manufacturers.
Furthermore, cybersecurity concerns are emerging as potential restraints. As vehicles become more connected and rely on electronic control systems, the vulnerability to cyber threats increases. Ensuring the security and integrity of electric power steering systems is critical for market growth.
Van EPS Market Segmentation By Vehicle Type
Passenger vans represent a significant vehicle type segment within the Van EPS Market. These vehicles serve various purposes, including family transportation and shuttle services, and are increasingly adopting electric power steering systems to enhance comfort and safety.
Commercial vans and delivery vehicles constitute another vital segment. These vehicles are essential for logistics and transportation services, and electric power steering systems can improve maneuverability and driver comfort, leading to their growing adoption.
Van EPS Market Segmentation By Component
Electric power steering columns and torque sensors represent key component segments in the Van EPS Market. The steering column is responsible for translating driver input into wheel movement, and torque sensors provide critical feedback for precise control.
Control modules and software solutions are also essential components. They control the behavior of the electric power steering system, enabling advanced functionalities and facilitating integration with other vehicle systems.
Van EPS Market Segmentation By Region
North America is anticipated to be a key driver of global Van EPS Market growth. The region's automotive industry is characterized by a strong emphasis on innovation and the adoption of advanced vehicle technologies. Additionally, consumer preferences for larger vehicles like vans make North America a significant market.
Europe, particularly countries emphasizing environmental sustainability and advanced automotive technologies, is another substantial market. European regulations and consumer awareness are promoting the adoption of electric power steering systems.
The Asia-Pacific (APAC) region, experiencing rapid urbanization and increased commercial activities, is witnessing the growth of the commercial van segment. As a result, there is an increasing demand for electric power steering systems in APAC.
Van EPS Market Customer Landscape
The Van EPS Market report offers insights into the adoption patterns of the market, ranging from early adopters to laggards. It examines adoption rates across different regions based on penetration levels and delves into key criteria influencing purchase decisions and factors affecting price sensitivity. These insights assist component manufacturers and service providers in formulating effective strategies for market entry and growth.
Major Van EPS Market Companies
Prominent players in the Van EPS Market are implementing diverse strategies to bolster their market presence. These strategies include strategic collaborations, mergers and acquisitions, new product offerings, geographic expansion, and technological innovations.
Sample list of major companies in the market:
- Electric Steering Solutions
- VanSteer Technologies
- EPSPro Innovations
- VanMotion Controls
- AutoDrive EPS
Qualitative and quantitative analyses of these companies offer valuable insights into the competitive landscape. This analysis enables stakeholders to comprehend market dynamics and assess the strengths and weaknesses of key players.
Segment Overview
The Van EPS Market report provides revenue forecasts on a global, regional, and country level, including an analysis of emerging trends and growth opportunities spanning from 2019 to 2032.
- Vehicle Type Outlook (USD Million, 2019 - 2032)
- Passenger Vans
- Commercial Vans
- Component Outlook (USD Million, 2019 - 2032)
- Electric Power Steering Columns and Torque Sensors
- Control Modules and Software Solutions
- Others
- 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 Van 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. Van EPS MARKET SEGMENTATION & IMPACT ANALYSIS
4.1. Van 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. Van 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. Van 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. Van EPS MARKET REGIONAL OUTLOOK
7.1. Van EPS Market Share By Region, 2019 & 2027
7.2. NORTH AMERICA
7.2.1. North America Van EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.2.2. North America Van EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.2.3. North America Van EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.2.4. North America Van EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.2.5. U.S.
7.2.5.1. U.S. Van EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.2.5.2. U.S. Van EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.2.5.3. U.S. Van EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.2.5.4. U.S. Van EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.2.6. CANADA
7.2.6.1. Canada Van EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.2.6.2. Canada Van EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.2.6.3. Canada Van EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.2.6.4. Canada Van EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.3. EUROPE
7.3.1. Europe Van EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.3.2. Europe Van EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.3.3. Europe Van EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.3.4. Europe Van EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.3.5. GERMANY
7.3.5.1. Germany Van EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.3.5.2. Germany Van EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.3.5.3. Germany Van EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.3.5.4. Germany Van EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.3.6. FRANCE
7.3.6.1. France Van EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.3.6.2. France Van EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.3.6.3. France Van EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.3.6.4. France Van EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.3.7. U.K.
7.3.7.1. U.K. Van EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.3.7.2. U.K. Van EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.3.7.3. U.K. Van EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.3.7.4. U.K. Van EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.4. ASIA-PACIFIC
7.4.1. Asia Pacific Van EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.4.2. Asia Pacific Van EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.4.3. Asia Pacific Van EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.4.4. Asia Pacific Van EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.4.5. CHINA
7.4.5.1. China Van EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.4.5.2. China Van EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.4.5.3. China Van EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.4.5.4. China Van EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.4.6. INDIA
7.4.6.1. India Van EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.4.6.2. India Van EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.4.6.3. India Van EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.4.6.4. India Van EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.4.7. JAPAN
7.4.7.1. Japan Van EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.4.7.2. Japan Van EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.4.7.3. Japan Van EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.4.7.4. Japan Van EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.4.8. AUSTRALIA
7.4.8.1. Australia Van EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.4.8.2. Australia Van EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.4.8.3. Australia Van EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.4.8.4. Australia Van EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.5. MIDDLE EAST AND AFRICA (MEA)
7.5.1. Mea Van EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.5.2. Mea Van EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.5.3. Mea Van EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.5.4. Mea Van EPS Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.6. LATIN AMERICA
7.6.1. Latin America Van EPS Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.6.2. Latin America Van EPS Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.6.3. Latin America Van EPS Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.6.4. Latin America Van EPS Market Estimates And Forecast By Production Process, 2016 -2027, (USD Million)
7.6.5. Latin America Van 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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