Strategic Insight of Electrically Actuated Power Steering for Light and Medium Commercial Vehicles in Europe
Executive Summary—Key Findings
With the proliferation of advanced safety solutions, it is only a matter of time before steering electrification is implemented to achieve the next level of safety.
Electrically Actuated Power Steering Market for LCV and MCV: Key Findings, Europe, 2014–2021
Market Size: Market size of steering electrification stands at about in 2014, comprising of % vehicles in the LCV and MCV segment.
Forecast: Steering electrification market for LCV and MCV is expected to register a compound annual growth rate (CAGR) of % during 2014–2021, surpassing 1 Million installed base as early as 2018.
Key Solutions: Apart from the standard off-the-shelf solutions such as electric power assisted steering (EPAS) and electro-hydraulic power steering (EHPS), plug-and-play solutions such as tedrive’s iHSA can also be used in heavier vehicles in the range of to tons.
Market Leading OEMs: Mercedes Benz Vans along with Volkswagen Commercial Vehicles and Fiat Professional held a combined market share of about % in electrified steering in 2014 in Europe for the LCV segment. However, the MCV segment is yet to see an electrified steering solution.
Application: Steering electrification will allow OEMs to offer higher number of safety and convenience features such as lane keeping assist (LKA), lane centring assist (LCA), active cruise control (ACC), and crosswind assist. These safety features will allow fleet managers to hire a less experienced driver, thereby cutting costs.
About this report
Most of the commercial vehicles operating in the light (LCV) and medium (MCV) range are predominantly steered by hydraulic power steering (HPS). Very few LCVs use an electrified steering solution, while none of the MCVs are able to use electrified steering because of the front axle. This research looks in the potential for steering electrification and the potential for add-on steering modules such as iHSA. This research is based on secondary and primary data collected from LCV and MCV OEMs active in the European market. The research covers market trends for steering electrification and OEM technology preferences as well as key conclusions, outlooks, and predictions. The base year of the study is 2014, with forecasts up to 2021.
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