Electric Power Steering

Electric Power Steering Market by Components (Bearing, Electric Motor, Electronic Control Unit), Electric Motor (Brush Motor, Brushless Motor), Electric Vehicle, EV Gear Type, Type, Mechanism, Application, Off-Highway Application - Global Forecast 2024-2030

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[187 Pages Report] The Electric Power Steering Market size was estimated at USD 27.63 billion in 2023 and expected to reach USD 29.35 billion in 2024, at a CAGR 6.34% to reach USD 42.49 billion by 2030.

Electric Power Steering Market
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Electric power steering (EPS) is a cutting-edge steering system that utilizes an electric motor to provide steering assistance to the driver. It replaces the traditional hydraulic power steering systems, offering improved fuel efficiency, enhanced steering response, and lower emissions through its energy-saving design. The primary drivers of electric power steering utilization growth include stringent fuel efficiency standards, the global push for lower emissions, and the rising demand for vehicle safety and comfort. Additionally, the integration of advanced driver-assistance systems (ADAS) with EPS systems to facilitate features such as autonomous driving and parking assist technology is propelling the adoption of EPS in modern vehicles. However, the EPS sector faces several challenges. High initial costs, concerns over potential steering system failures, and the complexities involved in integrating EPS with existing vehicle designs are significant hurdles. Furthermore, the intense competition among automakers and component suppliers to develop innovative yet cost-effective EPS systems adds to the market’s challenges. The ongoing transition to electric and autonomous vehicles presents vast opportunities for the EPS market. The need for advanced steering systems that can integrate with autonomous technologies is expected to surge, providing ample growth avenues. Moreover, the expanding automotive sector in emerging economies and the development of next-generation steering systems that offer higher precision and reliability are anticipated to fuel the future expansion of EPS.
Electric Power Steering Market - Global Forecast 2024-2030
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FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Electric Power Steering Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Electric Power Steering Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Electric Power Steering Market, highlighting leading vendors and their innovative profiles. These include D S Auto Enterprise Sdn Bhd, Denso Corporation, Georgsmarienhütte Holding GmbH, GKN Automotive Limited, Honeycomb Yichuang Technology Co., Ltd., Infineon Technologies AG, JTEKT Corporation, Mando Corporation, Mitsubishi Electric Corporation, Mobis India Limited, Nexteer Automotive Corporation, Robert Bosch GmbH, Rollax GmbH & CO., Showa Corporation, ThyssenKrupp AG, and ZF Friedrichshafen AG.

Market Segmentation & Coverage

This research report categorizes the Electric Power Steering Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Components
    • Bearing
    • Electric Motor
    • Electronic Control Unit
    • Mechanical Rack & Pinion
    • Sensors
    • Steering Column
    • Steering Gear
  • Electric Motor
    • Brush Motor
    • Brushless Motor
  • Electric Vehicle
    • BEV
    • FCEV
    • PHEV
  • EV Gear Type
    • Ball Screw
    • Worm Gear
  • Type
    • CEPS
    • PEPS
    • REPS
  • Mechanism
    • Collapsible
    • Rigid
  • Application
    • Commercial Vehicles
    • Passenger Cars
  • Off-Highway Application
    • Agricultural Equipment
    • Construction Equipment

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

The report offers valuable insights on the following aspects:

  1. Market Penetration: It presents comprehensive information on the market provided by key players.
  2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
  3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
  4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
  5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

  1. What is the market size and forecast of the Electric Power Steering Market?
  2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Electric Power Steering Market?
  3. What are the technology trends and regulatory frameworks in the Electric Power Steering Market?
  4. What is the market share of the leading vendors in the Electric Power Steering Market?
  5. Which modes and strategic moves are suitable for entering the Electric Power Steering Market?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Electric Power Steering Market, by Components
  7. Electric Power Steering Market, by Electric Motor
  8. Electric Power Steering Market, by Electric Vehicle
  9. Electric Power Steering Market, by EV Gear Type
  10. Electric Power Steering Market, by Type
  11. Electric Power Steering Market, by Mechanism
  12. Electric Power Steering Market, by Application
  13. Electric Power Steering Market, by Off-Highway Application
  14. Americas Electric Power Steering Market
  15. Asia-Pacific Electric Power Steering Market
  16. Europe, Middle East & Africa Electric Power Steering Market
  17. Competitive Landscape
  18. Competitive Portfolio
  19. List of Figures [Total: 32]
  20. List of Tables [Total: 734]
  21. List of Companies Mentioned [Total: 16]
Frequently Asked Questions
  1. How big is the Electric Power Steering Market?
    Ans. The Global Electric Power Steering Market size was estimated at USD 27.63 billion in 2023 and expected to reach USD 29.35 billion in 2024.
  2. What is the Electric Power Steering Market growth?
    Ans. The Global Electric Power Steering Market to grow USD 42.49 billion by 2030, at a CAGR of 6.34%
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