Abstract
With increasing technical innovations, the steering industry in Europe is
expected to grow rapidly. The constant need for economical fuel options has led
to the development of electric power steering (EPS), which is boosting growth in
the European steering markets. Though price is expected to be a constraint, EPS
is fast gaining a strong foothold in the market. The North American market is
expected to enhance its existing hydraulic power steering (HPS) technology. This
technology is sustaining its market share fuelled by low costs and the sluggish
penetration of superior technologies.
This Frost & Sullivan Strategic Analysis studies the advanced steering
systems market in Europe and North America, giving end users a comprehensive
overview. In addition, it explores the hydraulic power steering, electro
hydraulic power steering, electric power steering, steer by wire and active
front steering segments. Market drivers and restraints, industry challenges and
relevant forecasts are offered to help participants enhance their tactical
planning. Besides information on technical trends, details on competition,
strategic recommendations and conclusions are also given.
Larger Vehicles Propel Adoption of HPS in North America
The American preference for HPS is expected to continue as most vehicles
manufactured there are heavier and larger as compared to Europe. The inability
of the EPS systems to take heavy loads is one of the factors restricting their
adoption in this region. "The high cost, in addition to design and
development expenditure for EPS also discourages uptake," explains the
analyst of this research. "HPS systems are expected to dominate due to
their ability to accommodate heavy front axle loads and achieve Corporate
Average Fuel Economy (CAFﾉ) norms."
On the other hand, in the European market, EPS is eating into the HPS market
share consistently. Besides gaining a stronghold in the lower and medium
segments, uptake of EPS is expected to increase due to optimum performance and
fuel friendly factor of the technology. It is expected to evolve further to
accommodate a heavier front axle load.
Rack EPS and AFS Vital Future Steering Technologies
Technical innovations such as the rack electric power steering (rack EPS) and
active front steering (AFS) are a boon to premium heavy vehicles in both Europe
and in North America. "With the ability to handle heavier front axle loads
and the presence of higher power output with 42 V, rack EPS penetration in North
America is expected to increase rapidly in the next decade," says the
analyst. "This adoption is driven largely by the systems ability to
support heavier front axle loads" Rack EPS systems also offer better
performance as compared to other steering systems.
AFS technology is likely to be used extensively in the near future by premium
vehicles. Soon to be launched in North America, it is anticipated to encroach
HPS markets. However, market potential for AFS is envisaged to be higher in
Europe in contrast to the American market. Superior driving comfort and agility
offered along with a variable steering ratio are factors working towards
boosting AFS deployment.
Frost & Sullivan Growth Partnership Service
Based on extensive and in-depth research, real-world consulting work, and new
theories tested in hundreds of companies across many industries, Frost &
Sullivan has evolved its Growth Partnership Services (GPS) program that provides
established and emerging firms with powerful growth visions. Moving beyond token
mission statements, GPS provides an actionable vision to growth consulting
partners by illustrating how key intelligence and strategic research based on
defined goals can guide day-to-day behavior and overall company direction. The
foundation of Frost & Sullivans GPS includes:
Assisting companies to reach their full potential in the core business
Providing growth strategies to help companies expand into related businesses
Preemptively redefining the core business during market turbulence Applying the
Frost & Sullivan framework to identify and address common mistakes resulting
from misaligned corporate strategies Recommending growth management strategies
through continuous partnership
To maximize the potential for growth within a firms internal and external
environment, Frost & Sullivan consultants can facilitate the creation of
strategic programs that deliver improved market success. Frost & Sullivans
strengths lie in combining strategic understanding with market expertise and
applying these with absolute commitment to its clients growth.
Table of Contents
1 EXECUTIVE SUMMARY
Market Overview
- Introduction and Overview
- Comparative Analysis of Steering Systems
Major Research Findings
- Total Market for Steering Systems
- Total Market Breakdown by Region
- Market Breakdown by Vehicle Segment
- Market Breakdown by Vehicle Manufacturer
- Steering Systems Pricing Analysis
Competitive Structure for Steering Systems
Strategic Findings and Conclusions
- Key Findings and Conclusions
2 TOTAL EUROPEAN AND NORTH AMERICAN MARKET FOR STEERING SYSTEMS
Overview
- Introduction and Definitions
Market Drivers, Market Restraints and Technology Comparison
- Market Drivers
- Market Restraints
- Comparison of Different Steering Technologies (Advantages versus
Disadvantages)
Steering Systems Analysis
- Steering Systems Life Cycle
- Total Steering Systems Technology Roadmap to 2010
Total steering Systems Market Size and Forecasts
- Total Market for Steering Systems in Units and Revenues
- Market Breakdown by Steering Technologies
- Market Breakdown by Region
- Market Breakdown by Vehicle Segments
- Steering System Pricing Analysis
- Analysis of Vehicle Manufacturers Penetration Rates
Competitive Analysis
- Competitive Structure
- Competitive Analysis Vehicle Manufacturers
- Competitive Analysis Suppliers
- Market Share Analysis for Suppliers
Impact of Technology and Legislative Trends
- Market Trends
- Technology Trends
- Legislative Trends
Market for Electric Motors for Advanced Steering Systems in Europe
- Introduction and Preference of Brushed over Brushless Motors
- Market Drivers Market Restraints and Trends for Electric Motors
- Total Market for Electric Steering Motors in Units and Revenues
- Total Market Split for Brushed and Brushless Motors
- Electric Motors Pricing Trends by Steering Technology
- Market Shares for Motor Suppliers
- Major Conclusions and Findings
Strategic Recommendations and Conclusions
- Conclusions and Recommendations
3 TOTAL EUROPEAN AND NORTH AMERICAN MARKET FOR HYDRAULIC POWER STEERING
SYSTEMS
Introduction
