Japan automotive EPS market is projected to exhibit a growth rate (CAGR) of 5.3% during 2024-2032. The growing inclination towards electric and hybrid vehicles coupled with the rising demand for electric power steering systems, as they are more compatible with such vehicles compared to hydraulic systems, is primarily driving the market growth.
|Market Growth Rate (2024-2032)
Automotive electric power steering (EPS) is a crucial technology that has revolutionized the way vehicles handle and maneuver on the road. Unlike traditional hydraulic power steering systems, EPS relies on electric motors to assist the driver in steering the vehicle. This innovation brings several advantages to the automotive industry. It enhances fuel efficiency by eliminating the constant draw of power associated with hydraulic systems. It also operates only when needed, which can reduce energy consumption and emissions, thereby contributing to a greener and more sustainable future. Moreover, EPS provides a smoother and more responsive steering experience, improving overall driving comfort and control. Drivers can enjoy effortless parking and a more dynamic driving experience. Furthermore, EPS systems are highly adaptable and can be easily integrated with advanced driver assistance systems (ADAS) and autonomous driving technologies, making them a vital component in the evolution of the automotive industry.
Japan Automotive EPS Market Trends:
The automotive EPS market in Japan is witnessing exponential growth, significantly driven by the rising demand for fuel-efficient vehicles and the burgeoning progression toward the electrification of vehicles. In addition to this, numerous environmental concerns are propelling the advancements in automotive technology, providing impetus to the adoption of EPS systems that are lightweight, thus reducing fuel consumption and emissions. Additionally, the vigorous push from governments to promulgate stringent emission norms is further serving as a pivotal catalyst in accelerating the demand for automotive EPS. The emergence of autonomous vehicles also plays a pivotal role, given the imperative need for precise and efficient steering systems for these vehicles. Furthermore, consumers' escalating inclination toward enhanced driving experiences, underlined by seamless and responsive steering control, is substantially influencing the regional market. Apart from this, the integration of advanced driver-assistance systems (ADAS) with EPS, since they help in making vehicles safer and more reliable, is creating a conducive environment for the Japan automotive EPS market to flourish.
Japan Automotive EPS Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on product type, vehicle type, and demand category.
Product Type Insights:
- Rack Assist Type (REPS)
- Colum Assist Type (CEPS)
- Pinion Assist Type (PEPS)
The report has provided a detailed breakup and analysis of the market based on the product type. This includes rack assist type (REPS), colum assist type (CEPS), and pinion assist type (PEPS).
Vehicle Type Insights:
- Passenger Vehicle
- Commercial Vehicle
A detailed breakup and analysis of the market based on the vehicle type have also been provided in the report. This includes passenger vehicle and commercial vehicle.
Demand Category Insights:
The report has provided a detailed breakup and analysis of the market based on the demand category. This includes OEM and replacement.
- Kanto Region
- Kansai/Kinki Region
- Central/ Chubu Region
- Kyushu-Okinawa Region
- Tohoku Region
- Chugoku Region
- Hokkaido Region
- Shikoku Region
The report has also provided a comprehensive analysis of all the major regional markets, which include Kanto Region, Kansai/Kinki Region, Central/ Chubu Region, Kyushu-Okinawa Region, Tohoku Region, Chugoku Region, Hokkaido Region, and Shikoku Region.
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the key players include:
- JTEKT Corporation
- Mitsubishi Electric Corporation
- NSK Ltd.
(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
Japan Automotive EPS Market Report Coverage:
|Base Year of the Analysis
| Historical Period
|Scope of the Report
||Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
- Product Type
- Vehicle Type
- Demand Category
|Product Types Covered
||Rack Assist Type (REPS), Colum Assist Type (CEPS), Pinion Assist Type (PEPS)
|Vehicle Types Covered
||Passenger Vehicle, Commercial Vehicle
|Demand Categories Covered
||Kanto Region, Kansai/Kinki Region, Central/ Chubu Region, Kyushu-Okinawa Region, Tohoku Region, Chugoku Region, Hokkaido Region, Shikoku Region
||JTEKT Corporation, Mitsubishi Electric Corporation, NSK Ltd., etc. (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2999
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Corporate License: US$ 5499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report:
- How has the Japan automotive EPS market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the Japan automotive EPS market?
- What is the breakup of the Japan automotive EPS market on the basis of product type?
- What is the breakup of the Japan automotive EPS market on the basis of vehicle type?
- What is the breakup of the Japan automotive EPS market on the basis of demand category?
- What are the various stages in the value chain of the Japan automotive EPS market?
- What are the key driving factors and challenges in the Japan automotive EPS market?
- What is the structure of the Japan automotive EPS market and who are the key players?
- What is the degree of competition in the Japan automotive EPS market?
Key Benefits for Stakeholders:
- IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Japan automotive EPS market from 2018-2032.
- The research report provides the latest information on the market drivers, challenges, and opportunities in the Japan automotive EPS market.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Japan automotive EPS industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.