Global light vehicle steering market- forecasts to April 2015 SAMPLE

Transcription

1 Global light vehicle steering market- forecasts to 2029

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4 Table of contents 1: Introduction... 9 About this service : PESTER analysis Political Economic Social... 0 Technological... 0 Environmental... 0 Regulatory : Companies China Automotive Systems Inc Alliances Customers... 0 JTEKT Corporation... 0 Mando Corporation... 0 Nexteer Automotive... 0 Customers... 0 Merger and acquisition activity... 0 NSK Ltd... 0 Merger and acquisition activity... 0 Infrastructure... 0 Robert Bosch Automotive Steering GmbH... 0 Background information... 0 Showa Corporation... 0 Showa Corporation s steering businesses worldwide, ThyssenKrupp AG... 0 TRW Automotive... 0 Customers and contracts... 0 Infrastructure... 0 Poland... 0 Brazil... 0 Romania... 0 China... 0 India... 0 ZF Friedrichshafen AG... 0 Background... 0 Steering technologies... 0 Organisation... 0 Page 4

5 Others... 0 Federal Mogul Corporation... 0 Hitachi Automotive Systems... 0 Hyundai Mobis Co., Ltd KYB... 0 Mando Corp... 0 Martinrea International Inc... 0 Mitsubishi Electric Corporation... 0 Remy International... 0 Sona Koyo Steering Systems... 0 Trelleborg : Markets Electric steering systems Global manufacturer market shares of electrically powered steering systems for passenger cars and light vehicles, , % of volume... 0 European manufacturer market shares of electrically powered steering systems for passenger cars and light vehicles, , % of volume... 0 North American manufacturer market shares of electrically powered steering systems for passenger cars and light vehicles, , % of volume... 0 Where is the electric steering sector heading?... 0 Hydraulic steering systems... 0 Global manufacturer market shares of hydraulic steering systems for passenger cars and light vehicles, , % of volume... 0 European manufacturer market shares of hydraulic vehicle steering systems for passenger cars and light vehicles, , % of volume... 0 North American manufacturer market shares of hydraulic vehicle steering systems for passenger cars and light vehicles, , % of volume... 0 China... 0 Japan... 0 Emerging markets... 0 India... 0 Poland... 0 Slovakia... 0 Thailand : Technologies Defining the elements EPS... 0 China Automotive Systems' solutions... 0 JTEKT's solutions... 0 Nexteer's solutions... 0 NSK's solutions... 0 Showa Corp's solutions... 0 TRW's solutions... 0 ZF Lenksysteme's solutions... 0 Steering column... 0 Steering column module from TRW... 0 Nexteer enhances column-mounted steering systems... 0 Page 5

6 Active front steering... 0 Rear wheel steering... 0 Tomorrow s steering systems... 0 Nexteer... 0 TRW Automotive... 0 Nissan Motor... 0 NSK... 0 Steer-by-wire... 0 Other... 0 TRW's motor pump unit... 0 NSK's steering-wheel locking mechanism... 0 NTN's MCU for next-generation steering systems : Forecasts Manual steering Rack and pinion steering Market fitment/penetration rates of manual rack and pinion steering systems fitted to newly-assembled passenger cars and light vehicles, , (%)... 0 Market volumes of manual rack and pinion steering systems fitted to newly-assembled passenger cars and light vehicles, , ('000s units)... 0 Recirculating ball steering... 0 Market fitment/penetration rates of recirculating ball steering systems fitted to newly-assembled passenger cars and light vehicles, , (%)... 0 Market volumes of recirculating ball steering systems fitted to newly-assembled passenger cars and light vehicles, , ('000s units)... 0 Hydraulic powered steering... 0 Market fitment/penetration rates of power rack and pinion steering systems fitted to newly-assembled passenger cars and light vehicles, , (%)... 0 Market volumes of power rack and pinion steering systems fitted to newly-assembled passenger cars and light vehicles, , ('000s units)... 0 Electric powered hydraulic steering... 0 Overview... 0 Forecasts... 0 Market fitment/penetration rates of electric power hydraulic steering systems fitted to newly-assembled passenger cars and light vehicles, , (%)... 0 Market volumes of electric power hydraulic steering systems fitted to newly-assembled passenger cars and light vehicles, , ('000s units)... 0 Electric powered steering systems... 0 Column drive electric power steering... 0 Market fitment/penetration rates of column drive electric power steering systems fitted to newly-assembled passenger cars and light vehicles, , (%)... 0 Market volumes of column drive electric power steering systems fitted to newly-assembled passenger cars and light vehicles, , ('000s units)... 0 Pinion drive electric power steering... 0 Market fitment/penetration rates of pinion drive electric power steering systems fitted to newly-assembled passenger cars and light vehicles, , (%)... 0 Market volumes of pinion drive electric power steering systems fitted to newly-assembled passenger cars and light vehicles, , ('000s units)... 0 Rack drive electric power steering... 0 Market fitment/penetration rates of rack drive electric power steering systems fitted to newly-assembled passenger cars and light vehicles, , (%)... 0 Market volumes of rack drive electric power steering systems fitted to newly-assembled passenger cars and light vehicles, , ('000s units)... 0 Regional fitment rates... 0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles worldwide, , (% share)... 0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in North America, , (% share)... 0 Page 6

7 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Mercosur, , (% share)... 0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Western Europe, , (% share)... 0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Central Europe, , (% share)... 0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Russia, , (% share)... 0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Japan, , (% share)... 0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in China, , (% share)... 0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in India, , (% share)... 0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Korea, , (% share)... 0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Thailand, , (% share)... 0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Other Asia Pacific, , (% share)... 0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Iran, , (% share)... 0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in South Africa, , (% share)... 0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Australia, , (% share) : Archive Brazil Delphi Automotive LLP ThyssenKrupp Presta's modular steering column concept... 0 Page 7

8 Tables Showa Corporation s steering businesses worldwide, Global manufacturer market shares of electrically powered steering systems for passenger cars and light vehicles, , % of volume...0 European manufacturer market shares of electrically powered steering systems for passenger cars and light vehicles, , % of volume...0 North American manufacturer market shares of electrically powered steering systems for passenger cars and light vehicles, , % of volume...0 Global manufacturer market shares of hydraulic steering systems for passenger cars and light vehicles, , % of volume...0 European manufacturer market shares of hydraulic vehicle steering systems for passenger cars and light vehicles, , % of volume...0 North American manufacturer market shares of hydraulic vehicle steering systems for passenger cars and light vehicles, , % of volume...0 Market fitment/penetration rates of manual rack and pinion steering systems fitted to newly-assembled passenger cars and light vehicles, , (%)...0 Market volumes of manual rack and pinion steering systems fitted to newly-assembled passenger cars and light vehicles, , ('000s units)...0 Market fitment/penetration rates of recirculating ball steering systems fitted to newly-assembled passenger cars and light vehicles, , (%)...0 Market volumes of recirculating ball steering systems fitted to newly-assembled passenger cars and light vehicles, , ('000s units)...0 Market fitment/penetration rates of power rack and pinion steering systems fitted to newly-assembled passenger cars and light vehicles, , (%)...0 Market volumes of power rack and pinion steering systems fitted to newly-assembled passenger cars and light vehicles, , ('000s units)...0 Market fitment/penetration rates of electric power hydraulic steering systems fitted to newly-assembled passenger cars and light vehicles, , (%)...0 Market volumes of electric power hydraulic steering systems fitted to newly-assembled passenger cars and light vehicles, , ('000s units)...0 Market fitment/penetration rates of column drive electric power steering systems fitted to newly-assembled passenger cars and light vehicles, , (%)...0 Market volumes of column drive electric power steering systems fitted to newly-assembled passenger cars and light vehicles, , ('000s units)...0 Market fitment/penetration rates of pinion drive electric power steering systems fitted to newly-assembled passenger cars and light vehicles, , (%)...0 Market volumes of pinion drive electric power steering systems fitted to newly-assembled passenger cars and light vehicles, , ('000s units)...0 Market fitment/penetration rates of rack drive electric power steering systems fitted to newly-assembled passenger cars and light vehicles, , (%)...0 Market volumes of rack drive electric power steering systems fitted to newly-assembled passenger cars and light vehicles, , ('000s units)...0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles worldwide, , (% share)...0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in North America, , (% share)...0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Mercosur, , (% share)...0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Western Europe, , (% share)...0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Central Europe, , (% share)...0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Russia, , (% share)...0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Japan, , (% share)...0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in China, , (% share)...0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in India, , (% share)...0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Korea, , (% share)...0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Thailand, , (% share)...0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Other Asia Pacific, , (% share)...0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Iran, , (% share)...0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in South Africa, , (% share)...0 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Australia, , (% share)...17 Page 8

9 Introduction For many years, power steering technology was focused on hydraulic systems but demand is now favouring electric power steering mainly due to fuel consumption and logistical benefits. There are generally three types of electric power steering (EPS), depending on the positioning of the motor / reducer unit: column type, pinion type and rack type. The best type for any given vehicle model depends on that model s particular characteristics. EPS systems effectively eliminate the traditional hydraulic system s power steering pump, hoses, hydraulic fluid, and drive belt and pulley on the engine. More specifically, EPS offers significant fuel efficiency advantages and reduced CO2 and greenhouse gas emissions as steering assist is only supplied upon driver demand through an electric drive system that is independent of the engine. Because electric steering systems operate under computer control, steering feel can be tuned through software, enabling integration with other electronically controlled technologies such as electronic stability control braking systems. Electric steering systems are also suitable for supporting electric vehicle architectures. An EPS system can effectively change the assist force for steering operation depending on information such as steering angle, steering angle velocity, speed and acceleration of the vehicle and each wheel, and yaw rate. The EPS system can therefore not only reduce the steering load but also optimise the assist force depending on the driving situation. Frank Lubischer, vice president of engineering, TRW steering and suspension, believes that demand for electrically assisted steering systems is set to increase. He said: Pending proposals from a range of national governments including North America and China, in addition to established emissions targets for the European Union, will establish more stringent CO2 emissions legislation in line with consumers desire to protect the environment and with fuel prices reaching record highs globally the development and growth of EAS technology is likely to accelerate over the next several years. Page 9

10 PESTER analysis Political Over the past decade, fuel efficiency has been the main driving force to introduce electric power steering (EPS) into passenger cars and light vehicles.yet nowadays, the increasing use of EPS is also helping to integrate the steering with safety fun. More advanced software and electronics are allowing us to implement much more seamlessly, cost-effectively and with greater levels of optimisation. By their nature autonomous or even semi-autonomous driving will need to have all major systems electronically controlled in order to give the proper commands to get the vehicle from point A to point B. Full steer-by-wire systems could provide some advantage in an autonomous vehicle, but it may not be necessary to go to full steer-by-wire to get the desired performance. EPS therefore opens the door for many additional features that can be added via the steering system. Parallel park is one such feature and there are several others including lane keeping assistance, lane guidance, side wind compensation, nibble suppression and vehicle stability enhancements (in conjunction with the braking and in some cases passive restraints systems). The market for these features is expected to grow as EPS fitment becomes more standard and certainly as fitment reaches into the high end cars and SUV markets. Economic The market for EPS systems continues to blossom. By 2015, we estimate that XX percent of newly passenger cars and light vehicles worldwide will be equipped with electric power steering, rising to XX percent by Once regarded as a niche product for small cars, EPS has become the technology of choice for fuel-efficient vehicles as manufacturers strive to reduce their CO2 emissions, due to its lower energy consumption than traditional hydraulic systems. Page 10

11 Companies China Automotive Systems Inc. China Automotive Systems (CAS) produces power steering components and systems. CAS has been manufacturing power steering systems for the past ten years. Its product range includes rack and pinion power steering, integral power steering, electronic power steering and manual steering, steering columns, steering oil pumps and steering hoses. CAS currently offers four separate series of power steering with an annual production capacity of over X.Xm sets, steering columns, steering oil pumps and steering hoses In February 2007, CAS opened its first US base, in Troy, Michigan. The Troy office focuses on market development, R&D and aftersales service in North America. In addition, CAS employs XXX engineers at three R&D centres in China. The company, along with Tsinghua University, operates the Tsinghua Henglong Automobile Steering Research Institute. The centre carries out R&D into EPS. Alliances CAS is involved in a number of alliances and technology agreements in the steering area, including: Strategic partnership with Bishop Steering Technology Ltd, a leader in automotive steering gear technology innovation. Technology transfer agreement with Namyang Ind Co Ltd, a leading steering column maker. Technology license agreement with Korea Delphi Automotive Systems Corporation. CAS also has a joint venture to make EPS systems and parts. The venture, known as Wuhan Jielong Electric Power Steering Co Ltd, is based in Wuhan City, Hubei, China. The total registered capital of the joint venture is US$Xm, of which China Automotive Systems has an XX percent ownership and Hong Kong Tongda, the joint venture partner, has the remaining XX percent ownership. Other joint ventures include one with SAIC-IVECO Hongyan Company producing power steering units for commercial vehicles in China. Page 11

12 Markets Electric steering systems The major manufacturers of EPS include JTEKT, TRW, Nexteer, ZF Lenksysteme, Showa and NSK. JTEKT has a strong product portfolio centred on steering and a range of driveline products. Its formation from the merger of Japan-based Koyo Seiko and Toyoda Machine Works gave the new entity a large product and industrial base, especially in Japan. Over the past few years Nexteer has won a number of orders, including those from European carmakers for single pinion steering systems. The supplier points out those volumes for single pinion EPS are growing very fast with several carmakers. Premium steering feel requirements, packaging constraints or crashworthiness considerations are contributing to this trend. Single pinion EPS achieves this by mounting the electric motor next to the steering pinion in the engine compartment, instead of on the steering column. The migration from hydraulic to electrical power steering is being driven by the same pressure to reduce CO2 emissions that are also making smaller cars popular. A growing number of future vehicle platforms will fit EPS to help comply with CO2 reduction targets, says Nexteer. The company estimates that replacing a hydraulic system with an on-demand electrically powered system from Nexteer reduces fuel consumption by up to X percent, which corresponds to around Xg/km of CO2. Nexteer announced strong financial results for the first half of The company said that first half revenues increased by approximately XX.X% on last year to US$X,XXX.Xm, with gross profit up by approximately XX.X% to US$XXX.Xm. In a statement, the Hong Kong-based company said that its strong financial reports reflected the company's ability to capitalise on strong market conditions as well as a continued focus on cost optimisation. It said that the growing global automotive market continues to drive demand in steering and driveline systems. Page 12

13 Technologies Defining the elements The steering system has a significant influence on vehicle performance and reliability. Electric power steering systems and hydraulic power steering systems with motor-driven pumps are superior to conventional hydraulic power steering in regard to both efficiency and size. Power steering refers to the components added to assist steering effort and provide drivers with comfortable manoeuvrability. Power steering systems are classified into hydraulic power steering systems, which use the engine s power as a drive source, and electric power steering systems which use the vehicle s battery. In a hydraulic power steering system, part of the rack bar (output shaft) is contained in a hydraulic cylinder through which the system assists in the motion of the rack bar, with the hydraulic pressure generated by a pump driven by engine output. This type of steering system can save energy by using a variable-capacity pump to vary the delivery flow rate. It can be used on vehicles of all shapes and sizes, ranging from compacts to full-sized cars. There are basically three types of hydraulic power steering, namely: Rack and pinion hydraulic power steering a lightweight unit offering a smooth steering feel. It can be applied to a range of vehicles from small passenger cars to minivans. As the name suggests, this type of steering consists of a rack and a pinion. According to Bosch, the steering ratio is defined by the ratio of pinion revolutions, i.e. steering wheel revolutions, to rack travel. Suitable toothing of the rack allows the ratio to vary as a function of travel, says Bosch. This lowers the operating force and reduces the travel for steering adjustments. Electronically controlled hydraulic power steering the performance of this system corresponds to vehicle speed. Ball screw-type hydraulic power steering this system is typically applied to trucks and buses. Page 13

14 Forecasts This section sets out our estimates and forecasts of OE steering systems fitted to newly-assembled passenger cars and light vehicles across XX of the world s largest light vehicle markets - which collectively account for more than XX percent of world light vehicle production. Our forecasts range is from 2009 through to 2019 with spot forecasts for 2024 and Here, our forecasts are divided into the following groups: Manual steering Hydraulic powered steering Electric powered hydraulic steering Electric powered steering Each forecast group sets out first the market fitment/penetration percentage rates followed by market volumes ( XXXs). Our forecasts are not extrapolative but dependent on the underlying drivers of supply and demand. Each forecast is based on vehicle data prepared by our partner, LMC Automotive. The vehicle data (passenger cars and light commercial vehicles) includes: North America - US, Canada and Mexico; Mercosur Brazil and Argentina; Western Europe - Germany, Italy, France, UK, Spain, Portugal, Netherlands, Belgium, Sweden, Austria, Finland and Morocco; Central Europe - Turkey, Bulgaria, Czech Republic, Poland, Slovakia, Hungary, Romania, Serbia and Slovenia; Russia; Japan; China; India; Korea; Thailand; Other Asia Indonesia, Malaysia, Taiwan and Philippines; Iran; South Africa; Australia. These forecasts are updated quarterly or as and when major changes require assumptions to be amended. Full revision history for all of our forecast pages within this section allow you to see what has changed and when. Page 14

15 Manual steering Rack and pinion steering A rack and pinion steering system uses a gearset enclosed on a metal tube with each end protruding from the tube. Page 15

16 Archive Brazil During a Q&A session with analysts following the announcement of TRW s 2014 first quarter financials and recorded by Seeking Alpha - a question was put to John Plant, CEO about if TRW was thinking of taking any concrete actions in Brazil either restructuring or anything else to right size its footprint that will improve the company s profitability of the operations there? He said: The short answer would be to be no. We have not increased our footprint in Brazil over recent years. We have taken steps to increase the investment in some of the new product areas. For example, our investments to introduce airbag technology to Brazil in -- due to legislation plus some investments in electronics and antilock braking. And also we ve had the opportunity of increasing our steering business through electric power steering, so we ve actually had the opportunity of substantial content growth in Brazil, which enabled us to weather a lot of the storm in 2013, and we were -- I d say profitable. Maybe we would like it to be more profitable than it was and we are hoping for a better result in 2014 as soon as these investments reach a greater position in maturity. But it's specific as to restructuring in terms of closing plants. No, we will do our normal thrifting of, I would say for productivity because we need productivity in South America to improve the overall competitiveness of the region, but that is - that s just our normal way of doing business and it doesn t evolve any specific plant closures or restructuring. So, nothing to be announced in TRW on that front, that I can see at this point in time. Delphi Automotive LLP Delphi operates a joint venture with steering and suspension component producer Teknorot in Turkey to serve the aftermarket. Page 16

17 Market fitment/penetration rates of steering system types fitted to newly-assembled passenger cars and light vehicles in Australia, 2XXX-2XXX, (% share) Steering system type Rack drive electric power XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% X.XX% X.XX% X.XX% X.XX% Pinion drive electric power XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% X.XX% X.XX% X.XX% X.XX% Column drive electric power XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% X.XX% X.XX% X.XX% X.XX% Electric power hydraulic X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% Power rack and pinion XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% X.XX% X.XX% X.XX% X.XX% Manual rack and pinion X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% Recirculating ball X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% X.XX% Total XXX.XX% XXX.XX% XXX.XX% XXX.XX% XXX.XX% XXX.XX% XXX.XX% XXX.XX% XXX.XX% X.XX% X.XX% X.XX% X.XX% Source: just-auto, LMC Automotive and industry sources Page 17

18 2015 All content copyright Aroq Limited. All rights reserved. If you would like to find out about our online multi-user services for your team or organisation, please contact: Mike Chiswell Senior QUBE Business Manager Tel: +44 (0) Toll free from US: Page 18