NEW YORK , Feb. 25, 2022 /PRNewswire/ -- The Automotive EPS Market Value in the UK is set to grow by 1.33 million units from 2021 to 2026, as per the latest report by Technavio.
Resulting in Y-O-Y growth rate of 7.79% in 2022, read additional information about the market, Get FREE sample report.
Vendor Landscape
The automotive EPS market in UK is fragmented and the vendors are deploying growth strategies such as technological developments to compete in the market.
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Latest Drivers & Trends of the Global Automotive EPS Market in UK
Several vehicle components are being replaced by lightweight materials, such as aluminum, to improve fuel efficiency and achieve superior performance. However, the governments of several countries have imposed sanctions on the suppliers of raw aluminum. For instance, on May 8, 2019, US President Trump issued Executive Order 13871 that imposed sanctions on transactions involving minerals and industrial commodities exported from Iran. These sanctions led to a steep hike in aluminum prices and created a supply-demand imbalance in the market. Owing to the rapid rise in the demand for advances in automotive EPS systems, the rise in the cost of raw materials such as aluminum and steel has a negligible impact on the market. Sharing the burden of the increased cost between OEMs and end-users is expected to positively impact the market growth during the forecast period.
The automotive EPS market growth in UK is also driven by the adoption of steer-by-wire technology to eliminate mechanical linkages between the steering and wheels of vehicles for enhancing driving comfort and improving fuel efficiency. Additionally, the steer-by-wire technology also provides improved performance, reliability, and safety, along with reduced manufacturing and operating costs and better fuel economy. This technology also eliminates the use of many mechanical components, such as the column, steering shaft, and gear reduction mechanism. Therefore, steer-by-wire technology will be beneficial for automotive OEMs that are constantly facing pressure to comply with the regulatory emission norms. Such factors are expected to positively impact the automotive EPS market in UK during the forecast period.
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Key Market Segmentation
The automotive EPS market share growth in UK by the column segment will be significant during the forecast period. The high demand for column EPS, as it offers cost-effectiveness and flexibility in order to meet the OEM's requirements, helps in reducing fuel consumption, and improves the overall driving experience, will drive the growth of the segment in focus in the coming years.
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Our Automotive EPS Market in UK Report Covers the Following Areas:
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Automotive EPS Market in UK 2022-2026: Key Highlights
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Automotive EPS Market In UK Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 7.59% |
Market growth 2022-2026 |
1.33 mn units |
Market structure |
Fragmented |
YoY growth (%) |
7.79 |
Performing market contribution |
UK at 100% |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
ATS Automation Tooling Systems Inc., BorgWarner Inc., Hitachi Ltd., Hyundai Motor Group, Infineon Technologies AG, JTEKT Corp., Mando Corp., Melrose Industries Plc, Mitsubishi Electric Corp., and NEXTEER AUTOMOTIVE GROUP LTD. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1. Executive Summary
1.1 Market Overview
Exhibit 01: Key Finding 1
Exhibit 02: Key finding 2
Exhibit 03: Key finding 5
Exhibit 04: Key finding 6
Exhibit 05: Key finding 7
2. Market Landscape
2.1 Market ecosystem
Exhibit 06: Parent market
Exhibit 07: Market characteristics
2.2 Value chain analysis
Exhibit 08: Value chain analysis: Automotive components and accessories
2.2.1 Inputs
2.2.2 Inbound logistics
2.2.3 Operations
2.2.4 Distribution and logistics
2.2.5 Marketing and sales
2.2.6 Service
2.2.7 Industry innovations
3. Market Sizing
3.1 Market definition
Exhibit 09: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 10: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021 - 2026
3.4.1 Estimating growth rates for emerging and high-growth markets
3.4.2 Estimating growth rates for mature markets
Exhibit 11: Global - Market size and forecast 2021 - 2026 (million units)
Exhibit 12: Global market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 13: Five forces analysis 2021 and 2026
4.2 Bargaining power of buyers
Exhibit 14: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 15: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 16: Threat of new entrants
4.5 Threat of substitutes
Exhibit 17: Threat of substitutes
4.6 Threat of rivalry
Exhibit 18: Threat of rivalry
4.7 Market condition
Exhibit 19: Market condition - Five forces 2021
5. Market Segmentation by Type
5.1 Market segments
The segments covered in this chapter are:
Exhibit 20: Type - Market share 2021-2026 (%)
Exhibit 21: Type - Market share 2021-2026 (%)
5.2 Comparison by Type
Exhibit 22: Comparison by Type
Exhibit 23: Comparison by Type
5.3 Column - Market size and forecast 2021-2026
Exhibit 24: Column - Market size and forecast 2021-2026 (million units)
Exhibit 25: Column - Year-over-year growth 2021-2026 (%)
Exhibit 26: Pinion - Market size and forecast 2021-2026 (million units)
Exhibit 27: Pinion - Year-over-year growth 2021-2026 (%)
5.5 Double pinion - Market size and forecast 2021-2026
Exhibit 28: Double pinion - Market size and forecast 2021-2026 (million units)
Exhibit 29: Double pinion - Year-over-year growth 2021-2026 (%)
56 Market opportunity by Material
Exhibit 30: Market opportunity by Material (million units)
6. Market Segmentation by Vehicle type
6.1 Market segments
The segments covered in this chapter are:
Exhibit 31: Vehicle type - Market share 2021-2026 (%)
6.2 Comparison by Vehicle type
Exhibit 32: Comparison by Vehicle type
6.3 Passenger cars - Market size and forecast 2021-2026
Exhibit 33: Passenger cars - Market size and forecast 2021-2026 (million units)
Exhibit 34: Passenger cars - Year-over-year growth 2021-2026 (%)
6.4 Commercial vehicles - Market size and forecast 2021-2026
Exhibit 35: Commercial vehicles - Market size and forecast 2021-2026 (million units)
Exhibit 34: Commercial vehicles - Year-over-year growth 2021-2026 (%)
6.5 Market opportunity by Vehicle type
Exhibit 35: Market opportunity by Vehicle type
7. Customer landscape
Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
7.1 Overview
Exhibit 36: Customer landscape
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Need to share the increase in production cost between OEMs and end-users
8.1.2 Increasing global automobile sales
8.1.3 Rising adoption of EPS in entry-level and mid-segment vehicles
8.2 Market challenges
8.2.1 Fluctuating costs of raw materials
8.2.2 Sharp decline in automobile production due to shortage of chips
8.2.3 Safety concerns due to faulty steering components in EPS
Exhibit 37: Impact of drivers and challenges
8.3 Market trends
8.3.1 Steer-by-wire technology gaining adoption
8.3.2 Development of portable steering wheel angle measurement sensors
8.3.3 Development of 3D magnetic steering sensors for EPS
9. Vendor Landscape
9.1 Overview
Exhibit 38: Vendor landscape
9.2 Landscape disruption
Exhibit 39: Landscape disruption
Exhibit 40: Industry risks
10. Vendor Analysis
10.1 Vendors covered
Exhibit 41: Vendors covered
10.2 Market positioning of vendors
Exhibit 42: Market positioning of vendors
10.3 ATS Automation Tooling Systems Inc.
Exhibit 43: ATS Automation Tooling Systems Inc. - Overview
Exhibit 44: ATS Automation Tooling Systems Inc. - Business segments
Exhibit 45: ATS Automation Tooling Systems Inc. - Key News
Exhibit 46: ATS Automation Tooling Systems Inc. - Key offerings
Exhibit 47: ATS Automation Tooling Systems Inc. - Segment focus
10.4 BorgWarner Inc.
Exhibit 48: BorgWarner Inc. - Overview
Exhibit 49: BorgWarner Inc. - Business segments
Exhibit 50: BorgWarner Inc. - Key News
Exhibit 51: BorgWarner Inc. - Key offerings
Exhibit 52: BorgWarner Inc. - Segment focus
10.5 Hitachi Ltd.
Exhibit 53: Hitachi Ltd. - Overview
Exhibit 54: Hitachi Ltd. - Business segments
Exhibit 55: Hitachi Ltd. - Key News
Exhibit 56: Hitachi Ltd. - Key offerings
Exhibit 57: Hitachi Ltd. - Segment focus
10.6 Hyundai Motor Group
Exhibit 58: Hyundai Motor Group - Overview
Exhibit 59: Hyundai Motor Group - Business segments
Exhibit 60: Hyundai Motor Group - Key News
Exhibit 61: Hyundai Motor Group - Key offerings
Exhibit 62: Hyundai Motor Group - Segment focus
10.7 Infineon Technologies AG
Exhibit 63: Infineon Technologies AG - Overview
Exhibit 64: Infineon Technologies AG - Business segments
Exhibit 65: Infineon Technologies AG - Key News
Exhibit 66: Infineon Technologies AG - Key offerings
Exhibit 67: Infineon Technologies AG - Segment focus
10.8 JTEKT Corp.
Exhibit 68: JTEKT Corp. - Overview
Exhibit 69: JTEKT Corp. - Business segments
Exhibit 70: JTEKT Corp. - Key offerings
Exhibit 71: JTEKT Corp. - Segment focus
10.9 Mando Corp.
Exhibit 72: Mando Corp. - Overview
Exhibit 73: Mando Corp. - Product and service
Exhibit 74: Mando Corp. - Key offerings
10.10 Melrose Industries Plc
Exhibit 75: Melrose Industries Plc - Overview
Exhibit 76: Melrose Industries Plc - Business segments
Exhibit 77: Melrose Industries Plc - Key News
Exhibit 78: Melrose Industries Plc - Key offerings
Exhibit 79: Melrose Industries Plc - Segment focus
10.11 Mitsubishi Electric Corp.
Exhibit 80: Mitsubishi Electric Corp. - Overview
Exhibit 81: Mitsubishi Electric Corp. - Business segments
Exhibit 82: Mitsubishi Electric Corp. - Key News
Exhibit 83: Mitsubishi Electric Corp. - Key offerings
Exhibit 84: Mitsubishi Electric Corp. - Segment focus
10.12 NEXTEER AUTOMOTIVE GROUP LTD.
Exhibit 85: NEXTEER AUTOMOTIVE GROUP LTD. - Overview
Exhibit 86: NEXTEER AUTOMOTIVE GROUP LTD. - Business segments
Exhibit 87: NEXTEER AUTOMOTIVE GROUP LTD. - Key News
Exhibit 88: NEXTEER AUTOMOTIVE GROUP LTD. - Key offerings
Exhibit 89: NEXTEER AUTOMOTIVE GROUP LTD. - Segment focus
11. Appendix
11.1 Scope of the report
11.1.1 Market definition
11.1.2 Objectives
11.1.3 Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 90: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 91: Research Methodology
Exhibit 92: Validation techniques employed for market sizing
Exhibit 93: Information sources
11.4 List of abbreviations
Exhibit 94: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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