In order to do what's best for your power steering business, it's sometimes necessary to make an investment in your team and your process. The future of power steering is undeniably in EPS and the autonomous technologies that will come with this shift in the industry, and in order for your business to stay in the game, you need to make the transition as well. While there are many changes that come with this transition, the associated costs are necessary to secure a future for your shop, and the sooner you create a plan for taking them on, the better. In this post, we'll discuss the types of expected costs of transitioning to EPS and how to plan for them.
Electronic power steering has introduced a whole new level of service into the power steering market. Not only are shops and rebuilders now faced with the challenge of learning to service these electronic systems that look and function completely different from old hydraulic systems with their mechanical parts, but EPS systems also require an entirely different approach to failure diagnosis. In order to stay in the electronic power steering game, your business has to have the right equipment to service and diagnose EPS-specific issues. In this post, we'll explain why your power steering business needs a diagnostic scan tool and how your investment will continue to benefit your business going forward.
The first iterations of electronic power steering (EPS) were introduced to the automotive market in the early- to mid- 1990s in the form of steer-by-wire, so why is EPS such a major topic of discussion in the steering industry today? As EPS technology and design continues to develop, the technology became much more widely adopted and installed by OEM vehicle manufacturers, meaning that rebuilders and shops are seeing more and more EPS-related business, and the numbers are still growing. In fact, By 2020, 92% of new vehicles will use EPS while only 6% will be hydraulic. That's a huge shift in the industry from just a few decades ago, but why is it happening now?
Electronic power steering has been around for years, but new automotive demands are fueling its near exponential growth in the market today. Manufacturers are adopting EPS for its wide range of benefits over its hydraulic power steering predecessors, and recent forecast data shows that EPS deployment is only predicted to grow over the next several years. In this post, we'll take a look at the predictions of EPS market forecast data as well as the reasons why EPS production is growing at such an unprecedented rate.
As a modern steering rebuilder, it's likely that you already have several measures in place to ensure you can serve as many customers as possible: an optimized shop process, well-trained technicians, and all the parts and knowledge you need for a successful rebuild. But as vehicle manufacturers continue to innovate designs and engineering to improve the driver experience, your capabilities and processes need to keep up. In today's automotive market, there's one major way to ensure that you're able to serve the most customers and vehicles possible — servicing EPS.