Research and Markets: Major Change in Power Steering Technology

DUBLIN, Ireland, June 1 -- Research and Markets (http://www.researchandmarkets.com/reports/c18500 ) has announced the addition of A global market review of automotive steering systems - trends, companies and forecasts to 2010 - 2nd edition to their offering.

During the last 15 years, there has been a slow evolution in power steering but recent engine-independent electro-hydraulic power steering (EHPS) and electric power steering systems (EPS) have marked a major change in the technology. For many years, power steering technology was focused on hydraulic systems but demand is now favouring electric power steering mainly due to reduced fuel consumption and logistical benefits.

Although estimates of future penetration levels by region and worldwide vary, there is complete agreement that the trend is upwards. The only disagreements concern the slope of the trend and at what level it might plateau. Delphi anticipates that worldwide adoption rates of EPS will reach 20% of the light vehicle market by 2007. European penetration during that timeframe could reach as high as 33%, says Delphi. Koyo Seiko also anticipate exponential growth for EPS; predicting that it will be fitted to more than 30% of new cars built worldwide in 2005, equivalent to 20 million vehicles. Looking further ahead, TRW forecast that by 2010, 50% of cars produced worldwide will incorporate some form of electrical assistance integrated into the steering system.

The main reasons for strong growth in electric steering, as opposed to hydraulic, is that electric systems are more economical to run, lighter, recyclable and easier to package and install. Electric and electro-hydraulic power steering systems are typically lighter and more compact than conventional hydraulic systems. TRWs electrically assisted steering (EAS), for example, is a power-assist system that eliminates the connection between the engine and steering system. Its migratory product, EPHS (Electrically Powered Hydraulic Steering) replaces the customary belts and pulleys with a brushless motor that drives a hydraulic power steering pump in a conventional rack and pinion steering system. EPS takes EAS technology a step further, eliminating hydraulic fluid and the accompanying hardware completely. An EPS module includes the motor, torque sensor, electronic control unit (ECU) and control/diagnostic software. Although EPHS was initially considered a transitionary technology -- preceding the arrival of full EPS systems -- manufacturers now predict a strong growth path.

In this second edition reviewing the key market drivers for passenger car and light vehicle steering systems, the analysis is broadened from the popular 1st edition, providing forecasts of six types of steering system:

   - Rack Drive Electric Power Steering
   - Pinion Drive Electric Power Steering
   - Column Drive Electric Power Steering
   - Electrically Powered Hydraulic Steering
   - Power Rack & Pinion Steering
   - Recirculating Ball Systems

Although power rack and pinion steering systems look set to dominate the global vehicle market for some years to come -- currently accounting for 75% of the global market -- demand is gradually switching to electric power steering mainly due to fuel consumption and logistical benefits. Consequently, the main focus of this forward-looking report is on the current market and outlook for electrically-assisted steering systems.

Chapter two sets out forecasts for product trends, fitment levels and market wholesale values for all six types of steering in Western Europe, North America, Asia-Pacific and worldwide through 2008. It also identifies market shares for both electrically assisted steering and conventional hydraulic steering systems in Europe and North America. All in all, this report will give you 50 market volume and value forecasts by region and technology through 2008.

Chapter three sets out recent innovations and the forces driving those technical advances. The likelihood of a future dominated by electric steering systems is prompting some market participants to strengthen their presence in the market, investing in new plant and equipment and forming new joint ventures. For example, ThyssenKrupp recently acquired a 60% stake in the Mercedes-Benz Lenkungen steering system subsidiary from DaimlerChrysler, adding Euro 300 million a year in sales to its growing Presta steering system business. In 2002, Toyota and three of its partners have formed a new joint- venture, called Favess, to develop, manufacture and sell drive-by-wire electric power steering systems.

Chapter four provides profiles of the major steering system manufacturers, including Delphi, NSK, ThyssenKrupp, Toyoda Machine Works, TRW, Visteon, and ZF Lenksysteme.

For more information visit http://www.researchandmarkets.com/reports/c18500

   Laura Wood
   Senior Manager
   Research and Markets
   press@researchandmarkets.com
   Fax: +353 1 4100 980