Electric Power Steering Market Study Top Key Players, Application, Growth Analysis 2021-2031

Automotive, Semicon Companies Collaborate to Allocate Inventory amid COVID-19

It is estimated that the coronavirus pandemic has slowed the automotive industry by nearly four years. The significant drop in the turnover between the years 2018-2019 and 2019-2020 is creating concerns for companies in the automotive electric power steering market. As such, business activities are gaining pace in certain regions of the world. For instance, Israel-based foundry Tower Semiconductor has announced to expand its manufacturing capacity for 200mm wafers that are in high demand for automotive and Internet of Things devices.

Companies in the automotive electric power steering market are collaborating with semiconductor companies to make decisions on whether to allocate their inventory to meet automotive demands amid supply chain uncertainties.

PID Control Method Holds Potentials in Overcoming Operational Issues of EPS

Electric power steering (EPS) systems are being associated with energy savings, lightweight attributes, and smart driving. However, operational issues in these systems such as model uncertainties and external interference are being addressed by manufacturers. Hence, companies in the automotive electric power steering market are anticipated to team up with scholars and researchers who offer guidance on various control theories, which are improving the ergonomics of EPS.

Companies in the automotive electric power steering market are gaining a strong research base in the flexible PID (Proportional-Integral-Derivative) control method that provides real-time tracking ability. PID control method is considered a gold standard for improving the steering stability and sensitivity. PID parameters can be adjusted in real-time according to the operating environment, which makes the response capability of EPS system more fast and accurate.

How automotive electric power steering market will recover after covid19 –

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Over-the-air Connected Tech, Control Units Revolutionizing EPS Systems

The automotive electric power steering market is projected to reach the revenue of US$ 30.2 Bn by 2031. The growing demand for highly automated driving is creating incremental opportunities for automakers. Bosch Mobility Solutions— a provider of vehicle technology with software solutions and services is gaining recognition for its over-the-air connected technology in EPS, along with ADAS (Advanced Driver-Assistance Systems).

Apart from passenger and light commercial vehicles, companies in the automotive electric power steering market are unlocking growth opportunities in small and mid-range sports cars. Next-gen control units are being incorporated in EPS systems to provide security in case of any errors.

Get More Press Releases by TMR:  https://www.globenewswire.com/news-release/2022/03/02/2395584/0/en/Autonomous-Car-Market-to-Cross-US-206-94-Bn-by-2031-Benefits-of-Superior-Safety-Features-in-Utility-Vehicles-to-Bolster-Sales-Revenues-Finds-TMR-Study.html

Next-gen Steer-by-Wire Systems Gain Popularity in U.S., India

Tesla is gaining popularity in the autonomous car sector, owing to its shift toward steer-by-wire systems that eliminate the need for mechanical linkages in a steering system. This helps to rely on electrical or electro-mechanical systems for steering. However, in many countries, it is still customary to have mechanical linkages in steering systems in order for a vehicle to be road legal. Hence, companies in the automotive electric power steering market are expanding their testing facilities in Washington D.C. and Los Angeles where governments have permitted driverless vehicles with EPS.

India holds lucrative opportunities for companies in the automotive electric power steering market due to the influx of electric vehicles.

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OEMs Reduce Development Lead Time by Reviewing Control Program in EPS

Innovations in motor control units are facilitating improved handling and safety of vehicles. Japan-based DENSO Corporation— a global automotive components manufacturer, announced that it has developed a new EPS motor control unit (EPS-MCU), which has featured in TOYOTA NEW HARRIER that was launched in June 2020. The decline in the size of EPS systems is enabling cost and fuel savings.

Companies in the automotive electric power steering market are increasing efforts to reduce development lead-time by reviewing and reforming how the control program is adapted in different vehicles. Software innovations in the EPS-MCU are becoming prominent so that it automatically integrates into the vehicle after the unit is installed at the vehicle factory.

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