Global Microcontroller for Electronic Power Steering Market, By Component (Microcontroller Unit (MCU), Power Management Integrated Circuit (PMIC), Sensors), Application (Passenger Cars, Commercial Vehicles), Technology (CAN Bus, LIN Bus), Vehicle Type (Conventional EPS, Electric EPS), Sales Channel (OEMs, Aftermarket) - Industry Trends and Forecast to 2031.
Microcontroller for Electronic Power Steering Market Analysis and Size
Microcontrollers for electronic power steering (EPS) systems are essential components in modern automotive vehicles, providing control and precision in steering mechanisms. The market for microcontrollers for EPS is driven by the increasing adoption of EPS systems in vehicles due to their efficiency, reliability, and safety features. As automotive technology advances, the demand for microcontrollers tailored for EPS applications is expected to rise significantly.
Data Bridge Market Research analyses that the global microcontroller for electronic power steering market which was USD 26.51 billion in 2023, expected to reach USD 39.76 billion by 2031, and is expected to undergo a CAGR of 5.20% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customized 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Microcontroller Unit (MCU), Power Management Integrated Circuit (PMIC), Sensors), Application (Passenger Cars, Commercial Vehicles), Technology (CAN Bus, LIN Bus), Vehicle Type (Conventional EPS, Electric EPS), Sales Channel (OEMs, Aftermarket)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of the Middle East and Africa
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Market Players Covered
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Infineon Technologies AG (Germany), STMicroelectronics (Switzerland), Texas Instruments Incorporated (U.S.), Renesas Electronics Corporation (Japan), NXP Semiconductors (Netherlands), Cypress Semiconductor Corporation (U.S.), Microchip Technology Inc. (U.S.), Semiconductor Components Industries, LLC (U.S.), ROHM CO., LTD. (Japan), Mitsubishi Electric Corporation (Japan), Maxim Integrated (U.S.), Analog Devices, Inc. (U.S.), TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION (Japan), Silicon Laboratories (U.S.)
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Market Opportunities
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Market Definition
Microcontrollers for EPS systems are specialized components designed to control and regulate the operation of EPS systems in automotive vehicles. These microcontrollers play a crucial role in ensuring smooth and responsive steering performance while enhancing vehicle safety and driving comfort.
Global Microcontroller for Electronic Power Steering Market Dynamics
Drivers
- Rapid Growth in Automotive Electronics Adoption
The automotive industry is experiencing a rapid increase in the adoption of electronic components and systems to enhance vehicle performance, safety, and comfort. Microcontrollers for EPS are integral to this trend, as they provide the necessary control and regulation for modern EPS systems. With advancements in automotive technology, including the rise of electric vehicles (EVs) and the integration of advanced driver assistance systems (ADAS), the demand for microcontrollers tailored for EPS applications is expected to grow significantly. This driver is fueled by consumers' preferences for vehicles equipped with advanced electronic features, driving manufacturers to incorporate EPS systems into their vehicle designs.
- Increasing Emphasis on Vehicle Safety and Comfort Features
Safety and comfort features have become key differentiators in the automotive market, influencing consumer purchasing decisions and regulatory standards. Microcontrollers play a crucial role in enhancing vehicle safety and comfort, particularly in EPS systems, where they ensure precise and responsive steering control. As automakers strive to meet stringent safety regulations and cater to consumer demands for enhanced driving experiences, the demand for microcontrollers for EPS applications is poised to rise. This driver is further bolstered by the growing focus on autonomous driving technologies, which require robust and reliable EPS systems to enable safe and smooth vehicle operation.
Opportunity
- Rapid Growth in Electric Vehicle Adoption
The global automotive industry is undergoing a significant transformation with the increasing adoption of electric vehicles (EVs) driven by environmental concerns, government incentives, and technological advancements. Microcontrollers EPS are essential components in both conventional and electric vehicles, facilitating precise steering control and responsiveness. As the EV market continues to expand, there is a growing need for microcontrollers optimized for EPS applications in electric vehicles. This presents a lucrative opportunity for manufacturers to develop innovative solutions tailored to the specific requirements of electric power steering systems, thereby capitalizing on the growing demand for EVs and associated automotive electronics.
Restraint/Challenge
- Complexity of Automotive Electronics Integration
The integration of advanced electronic systems, including microcontrollers for EPS, into modern vehicles poses challenges related to complexity, compatibility, and reliability. Automotive manufacturers must navigate intricate supply chains, stringent quality standards, and evolving industry regulations to ensure seamless integration of electronic components while maintaining vehicle performance and safety. The complexity of automotive electronics integration can lead to development delays, increased production costs, and potential reliability issues, posing a restraint to the widespread adoption of microcontrollers for EPS applications.
This global microcontroller for electronic power steering market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global microcontroller for electronic power steering market contact the Data Bridge Market Research for an analyst brief, our team will help you make an informed market decision to achieve market growth.
Recent developments
- In 2023, Infineon Technologies AG introduced a new family of microcontrollers optimized for electronic power steering applications, offering enhanced performance and reliability for next-generation automotive systems
- In 2023, STMicroelectronics announced the development of a new power management integrated circuit (PMIC) specifically designed for use in electric power steering systems, providing efficient power delivery and thermal management capabilities
Global Microcontroller For Electronic Power Steering Market Scope
The global microcontroller for electronic power steering market is segmented on the basis of components, application, technology, vehicle type, and sales channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
- Microcontroller Unit (MCU)
- Power Management Integrated Circuit (PMIC)
- Sensors
Application
- Passenger Cars
- Commercial Vehicles
Technology
- CAN Bus
- LIN Bus
Vehicle Type
- Conventional EPS
- Electric EPS
Sales Channel
- OEMs
- Aftermarket
- Others
Global Microcontroller For Electronic Power Steering Market Region Analysis/Insights
The global microcontroller for electronic power steering market is analyzed and market size insights and trends are provided by region, components, application, technology, vehicle type, and sales channel, as referenced above.
The regions covered in the global microcontroller for electronic power steering market are North America, South America, Europe, Asia-Pacific, and the Middle East and Africa. The countries covered in the global microcontroller for electronic power steering market report are U.S., Canada, Mexico, Brazil, Argentina, the Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of the Middle East and Africa.
North America region is currently dominates the global microcontroller for electronic power steering market due to the presence of key automotive manufacturers and the early adoption of advanced electronic power steering systems in the region.
Asia-Pacific region is the fastest-growing region in the global microcontroller for electronic power steering market. The growth is attributed to the increasing demand for automobiles, particularly in countries such as China and India, coupled with the rising adoption of electronic power steering systems to enhance vehicle performance and fuel efficiency. In addition, technological advancements and government initiatives promoting electric vehicles further boost the market growth in this region.
The region section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.
Competitive Landscape and Global Microcontroller For Electronic Power Steering Market Share Analysis
The global microcontroller for electronic power steering market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the global microcontroller for electronic power steering market.
Some of the major players operating in the global microcontroller for electronic power steering market are:
- Infineon Technologies AG (Germany)
- STMicroelectronics (Switzerland)
- Texas Instruments Incorporated (U.S.)
- Renesas Electronics Corporation (Japan)
- NXP Semiconductors (Netherlands)
- Cypress Semiconductor Corporation (U.S.)
- Microchip Technology Inc. (U.S.)
- Semiconductor Componants Industries, LLC (U.S.)
- ROHM CO., LTD. (Japan)
- Mitsubishi Electric Corporation (Japan)
- Maxim Integrated (U.S.)
- Analog Devices, Inc. (U.S.)
- TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION (Japan)
- Silicon Laboratories (U.S.)
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