Europe Automotive EPS Market

Europe Automotive EPS Market Analysis

The Europe Automotive EPS Market is expected to register a CAGR of greater than 6% during the forecast period.

• The integration of numerous steering sensors in an electric power steering (EPS) helps provide additional safety benefits to the driver. Moreover, the enactment of stringent fuel economy norms, along with safety initiatives by the governments and international associations, are considered important drivers for the growth and development of the advanced steering systems.
• Electric power steering systems are fuel-efficient as compared to the other alternatives, which is due to the absence of belt-driven hydraulic or manual pumps, which run constantly, whether assistance is required or not. EPS provides fuel savings as high as 0.4 l for every 100 km, along with a reduction in CO2 emissions of up to 7 g/km.
• Major automakers have their own electric power steering systems such as Ford adaptive power steering. Adaptive steering systems of Ford utilize a precision-controlled actuator just inside the steering wheel, without making any changes to its traditional steering system. Adaptive steering makes the car more nimble and easier to turn.
• Large commercial vehicles, such as buses and trucksare different from passenger cars, as the large vehicles have the requirementof higher torque to provide steering assistance, additionally they have much higher mileages, heavier loads and more constant use than passenger cars, due to all the above reasons EPS is a much needed solution for commercial vehicles.

Europe Automotive EPS Market Trends

Sensors are expected to grow at rapid pace in the market

The major change between the traditional power steering to electric power steering is the hydraulic parts of the system such as hoses, belts, and pumps which are replaced by digital sensors and motors in the EPS systems. Sensors are one of the most critical parts in the EPS system, mainly the torque sensor, which collects steering direct and road resistance input and communicate the torque to the EPS module. The sensors produce a digital square wave signal with the frequency depending on the speed with which the wheel is turning. The signal is low when the wheel is kept straight and increases as the wheel is turned away from the center. Some of the recent advancements of the EPS sensors are

In 2018, Hella showcased its steering and braking solutions in which it displayed the steering angle sensor, Torque and Angle Sensor (TAS). These sensors are based on contactless inductive position sensor (CIPOSA) technology, which measures the torque and angle of the steering wheel with accuracy.

Whereas in 2019, Infineon Technologies AG has launched a linear Hall sensor. The XENSIV TLE4999I3 provides the highest level of functional safety (ASIL D). These include various features such as electric steering systems, electric throttle control systems, and pedal applications.

Moreover, the stringency in government regulations regarding fuel efficiency and safety initiatives are important drivers for the growth and development of the advanced steering systems that comprehensively employ steering sensors

Germany is Projected to hold Major Share in the Market

In 2019, the European Union's new-car registrations increased by 1.2%, reaching more than 15.3 million units. Due to the surge in car sales observed in various countries of Europe such as Germany, France, and Sweden, as the countries have made a significant alteration to the bonus-malus component of CO2-based taxation for 2020, on the other hand, the Netherlands is set to increase tax of electric cars from 4% to 8% as from January 2020.

In 2019 German automakers have manufactured over 4.6 million passenger cars which are 8.9% less as compared to the previous year, but due to the impact of COVID-19 most of the businesses in Europe were shut down in March and April, with some restrictions were lifted in mid-May in most countries. Whereas in Germany, car dealerships re-open in late April, and automakers such as Volkswagen restarted production at the starting of May.

Due to that German automotive industry has seen its lowest production figure of total 11,287 passenger cars produced in the month of April 2020, which is 97% less than that of April of 2018.

Europe Automotive EPS Industry Overview

The European automotive steering sensor market is moderately consolidated. Some of the prominent companies in the automotive steering sensor market are Robert Bosch GmbH, Continental AG, and TE Connectivity. Companies are entering into partnership and collaboration holds the major share in the market and have an advantage over the rivals.

• In 2019, NSK Ltd. which was a leader in electric power steering and Volkswagen AG have entered into a formal cooperation agreement, both companies steering divisions have agreed on development cooperation.

Europe Automotive EPS Market Leaders