Japan Electro Hydraulic Power Steering Market Insights Forecasts to 2033

• The Market is Growing at a CAGR of 5.72% from 2023 to 2033
• The Japan Electro Hydraulic Power Steering Market Size is Expected to Hold a Significant Share by 2033

The Japan Electro Hydraulic Power Steering Market Size is Anticipated to Hold a Significant Share by 2033, growing at a CAGR of 5.72% from 2023 to 2033.

Market Overview

Electro-hydraulic power steering is a continuation of the familiar hydraulic power steering system. The primary distinction lies in the method used to drive the hydraulic motor that provides the required pressure for the power steering system. In electric motor-driven hydraulic power steering, the motor is driven by an electric motor and adjusts based on the necessary steering assistance force. When the vehicle is moving slowly or not moving at all, the hydraulic motor delivers more power to increase steering capability. The benefit of electro-hydraulic power steering is the increased comfort. Steering feels easy to control during maneuvers. However, when traveling at fast velocities, the steering remains solid. This improves fuel efficiency overall by adjusting power uptake as needed. Significant growth in the Japan electro hydraulic power steering (EHPS) market is being fueled by advancements in automotive technology and a strong emphasis on improving vehicle performance and safety. EHPS systems merge the advantages of conventional hydraulic power steering and electric power steering, providing increased efficiency, decreased fuel usage, and improved control. The automotive industry highly values this technology for its capability to offer varying levels of steering assistance according to driving conditions, consequently enhancing the driving experience as a whole.

Report Coverage

This research report categorizes the market for the Japan electro hydraulic power steering market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan electro hydraulic power steering market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Japan electro hydraulic power steering market.

Driving Factors

The demand for improved vehicle performance and safety is what motivates the EHPS market in Japan. EHPS systems combine the advantages of both traditional hydraulic power steering (HPS) and electric power steering (EPS), providing adjustable assistance to enhance maneuverability at slow speeds and stability at fast speeds. They enhance energy efficiency, decreasing fuel usage in contrast to HPS, especially important with increasing fuel prices and emissions rules. Due to the transition to electric and hybrid vehicles in the automotive sector, EHPS systems are favored for their effectiveness and appropriateness in enhancing performance and range. Tough safety and emissions regulations continue to encourage the use of EHPS systems, solidifying their importance in ensuring vehicle safety and efficiency in Japan.

Restraining Factors

A major limitation is the expensive nature of EHPS systems. Combining hydraulic and electric parts raises the cost of these systems above that of standard power steering systems.

Market Segmentation

The Japan electro hydraulic power steering market share is classified into vehicle type and component type.

• The commercial vehicles segment is expected to hold the largest market share through the forecast period.   

The Japan electro hydraulic power steering market is segmented by vehicle type into passenger vehicles and commercial vehicles. Among them, the commercial vehicles segment is expected to hold the largest market share through the forecast period. The EHPS systems also have a significant market in the commercial vehicles sector, which includes trucks, buses, and vans. Commercial vehicles need strong and dependable power steering systems for handling tough driving conditions and heavy loads. EHPS systems, designed for commercial use, are ideal due to their adaptable assistance and enhanced management capabilities. The increasing focus on fleet management, fuel efficiency, and driver safety in the commercial vehicle industry is also contributing to the increased utilization of EHPS systems. Additionally, the transition to electric and hybrid commercial vehicles opens up more potential growth opportunities for EHPS manufacturers in this sector.

• The steering motor segment dominates the market with the largest market share over the predicted period.

The Japan electro hydraulic power steering market is segmented component types into steering motors, sensors, and others. Among them, the steering motor segment dominates the market with the largest market share over the predicted period. The steering motor plays a crucial role in the EHPS system, generating hydraulic pressure to aid in steering. In the EHPS market in Japan, there is a growing need for advanced steering motors that provide high efficiency, durability, and precise control. New advancements in steering motor technology, like variable displacement motors and electronically controlled motors, are improving the effectiveness and productivity of EHPS systems. Companies that prioritize the creation of high-quality steering motors can secure a large portion of the market.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan electro hydraulic power steering market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• JTEKT Corporation
• Nexteer Automotive
• NSK Ltd
• Robert Bosch GmbH
• ZF Friedrichshafen AG
• Showa Group
• Danfoss
• Continental AG
• Thyssenkrupp Presta AG
• Mando Corporation
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In June 2023, Nidec Corporation (Japan) has launched an electric power steering motor power pack (EPS-PP). Nidec's newly developed EPS-PP detects and corrects motor and EPS unit friction and torque ripple as they occur, successfully resolving the lingering issue of artificial steering feeling.

Market Segment

This study forecasts revenue at Japan, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Japan Electro Hydraulic Power Steering Market based on the below-mentioned segments:

Japan Electro Hydraulic Power Steering Market, By Vehicle Type

• Passenger Vehicles
• Commercial Vehicles

Japan Electro Hydraulic Power Steering Market, By Component Type

• Steering Motor
• Sensors
• Others