PUBLISHER: IMARC | PRODUCT CODE: 1554523
PUBLISHER: IMARC | PRODUCT CODE: 1554523
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.
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.
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.
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.
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).
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.
The report has provided a detailed breakup and analysis of the market based on the demand category. This includes OEM and replacement.
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.
(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
Company names have not been provided here as this is a sample TOC. Complete list to be provided in the final report.