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.
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