Electric Power Steering Market - By Components (Steering Column, Steering Gear, Sensor, Mechanical Pinion & Rack, Electronic Control Unit {ECU}, Electric Motor, Bearing, Others), B......y Type (Column Assist Type {C-EPS}, Pinion Assist Type {P-EPS}, Rack Assist Type {R-EPS}), By Mechanism (Collapsible, Rigid), By Fuel (Petrol, Diesel, Natural Gas, Electric, Others), By Vehicle Type (Passenger Cars & SUVs, Commercial Vehicles [Light Commercial Vehicles, Heavy Commercial Vehicles]) and others Read more
- Automotive
- Apr 2025
- 199
- PDF, Excel, PPT
Market Definition
Electric Power Steering (EPS) is a specially designed system in which the steering is controlled by an electric motor, and an electronic control unit is attached to the steering. EPS aids in the swift handling of vehicles as it works on torque sensors, over conventional steering.
Market Insights & Analysis: Global Electric Power Steering (EPS) Market (2025-30):
The Global Electric Power Steering (EPS) Market size was valued at around USD 26.96 billion in 2024 and is projected to reach USD 38.78 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 6.2% during the forecast period, i.e., 2025-30. This market growth is observed due to the increase in the demand for electronic and hybrid vehicles, advancements in technology, rise in foreign direct investments (FDI) inflow, stringent regulations, and others.
| Report Coverage | Details |
|---|---|
| Historical Years | 2020-23 |
|
Base Years
|
2024
|
|
Forecast Years
|
2025-30
|
| Market Value in 2024 | USD 26.96 Billion |
| Market Value in 2030 | USD 38.78 Billion |
| CAGR (2025-30) | 6.2% |
| Leading Region | Asia-Pacific |
| Top Key Players | Bosch, Denso Corporation, Hyundai Mobis, JTEKT Corporation, HL Mando, Hitachi Astemo, LTD., Mitsubishi Electric Corporation, Nexteer, NSK Corporate, Sensata Technologies, Inc., ZF Friedrichshafen AG, Zhuzhou Elite Electro-Mechanical Co. Ltd., GKN Automotive Limited, Thyssenkrupp Presta AG, and others |
| Key Report Highlights |
|
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The demand for hybrid and electric vehicles has surged significantly with government support. The government is implementing numerous policies and schemes to promote the growth of electric vehicles worldwide. This is due to the low emissions produced by electric vehicles. The electric power steering is compact and lightweight, and is fuel-efficient as it reduces emissions over the traditional. The electric vehicle dynamics work on the electronic motors, thus raising the utility of electric power steering. Furthermore, the electric power steering is equipped with sensors and motors that conveniently reduce the load exerted by the driver while driving. Hence, providing an expensive premium experience to the driver.
Moreover, the Electric Power Steering (EPS) is enforced by the guidelines of the officials due to its safety features, such as collapsible EPS, which reduces the risk of injuries during an accident. Additionally, the Adaptive Driving-Assistance System (ADAS) aids in the automation of the vehicle, it changes lanes, helps in detecting barriers, and others. Thus, the implication of such advancements boosts the growth of vehicles across the globe.
- Market Segmentation
- Introduction
- Product Definition
- Research Process
- Assumptions
- Executive Summary
- Global Electric Power Steering Market Trends & Deployments
- Global Electric Power Steering Market Dynamics
- Growth Drivers
- Challenges
- Global Electric Power Steering Market Opportunities & Hotspots
- Global Electric Power Steering Market Value Chain Analysis
- Global Electric Power Steering Market Regulations and Policy
- Global Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Components
- Steering Column - Market Size & Forecast 2020-2030, USD Million
- Steering Gear - Market Size & Forecast 2020-2030, USD Million
- Sensor -Market Size & Forecast 2020-2030, USD Million
- Mechanical Pinion & Rack-Market Size & Forecast 2020-2030, USD Million
- Electronic Control Unit (ECU)-Market Size & Forecast 2020-2030, USD Million
- Electric Motor-Market Size & Forecast 2020-2030, USD Million
- Bearing-Market Size & Forecast 2020-2030, USD Million
- Others-Market Size & Forecast 2020-2030, USD Million
- By Type
- Column Assist Type (C-EPS)- Market Size & Forecast 2020-2030, USD Million
- Pinion Assist Type (P-EPS)- Market Size & Forecast 2020-2030, USD Million
- Rack Assist Type (R-EPS)- Market Size & Forecast 2020-2030, USD Million
- By Mechanism
- Collapsible- Market Size & Forecast 2020-2030, USD Million
- Rigid- Market Size & Forecast 2020-2030, USD Million
- By Fuel
- Petrol- Market Size & Forecast 2020-2030, USD Million
- Diesel- Market Size & Forecast 2020-2030, USD Million
- Natural Gas-Market Size & Forecast 2020-2030, USD Million
- Electric-Market Size & Forecast 2020-2030, USD Million
- Others-Market Size & Forecast 2020-2030, USD Million
- By Vehicle Type
- Passenger Cars & SUVs-Market Size & Forecast 2020-2030, USD Million
- Commercial Vehicles-Market Size & Forecast 2020-2030, USD Million
- Light Commercial Vehicles-Market Size & Forecast 2020-2030, USD Million
- Heavy Commercial Vehicles-Market Size & Forecast 2020-2030, USD Million
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
- By Company
- Competition Characteristics
- Market Share and Analysis
- By Components
- Market Size & Analysis
- North America Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- By Country
- The US
- Canada
- Mexico
- The US Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- Canada Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- Mexico Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- Market Size & Analysis
- South America Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- By Country
- Brazil
- Argentina
- Rest of South America
- Brazil Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- Argentina Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- Market Size & Analysis
- Europe Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- By Country
- Germany
- The UK
- France
- Italy
- Spain
- The Netherlands
- Scandinavia
- Rest of Europe
- Germany Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- The UK Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- France Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- Italy Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- Spain Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- The Netherlands Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- Scandinavia Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- The Middle East & Africa Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- By Country
- Saudi Arabia
- The UAE
- Turkey
- Israel
- South Africa
- Rest of Middle East & Africa
- Saudi Arabia Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- UAE Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- South Africa Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- Turkey Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- Israel Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- Market Size & Analysis
- Asia-Pacific Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- By Country
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- China Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- Japan Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- India Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- South Korea Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- Australia Electric Power Steering Market Outlook, 2020-2030
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Component- Market Size & Forecast 2020-2030, USD Million
- By Type-- Market Size & Forecast 2020-2030, USD Million
- By Mechanism-Market Size & Forecast 2020-2030, USD Million
- By Fuel- Market Size & Forecast 2020-2030, USD Million
- By Vehicle-Market Size & Forecast 2020-2030, USD Million
- Market Size & Analysis
- Market Size & Analysis
- Global Electric Power Steering Market Strategic Imperatives for Growth & Success
- Competition Outlook
- Company Profiles
- Bosch
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Deployments
- Financial Details
- Others
- Denso Corporation
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Deployments
- Financial Details
- Others
- Hyundai Mobis
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Deployments
- Financial Details
- Others
- JTEKT Corporation
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Deployments
- Financial Details
- Others
- HL Mando
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Deployments
- Financial Details
- Others
- Hitachi Astemo, LTD.
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Deployments
- Financial Details
- Others
- Mitsubishi Electric Corporation
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Deployments
- Financial Details
- Others
- Nexteer
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Deployments
- Financial Details
- Others
- NSK Corporate
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Deployments
- Financial Details
- Others
- Sensata Technologies, Inc.
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Deployments
- Financial Details
- Others
- ZF Friedrichshafen AG
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Deployments
- Financial Details
- Others
- Zhuzhou Elite Electro-Mechanical Co. Ltd.
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Deployments
- Financial Details
- Others
- GKN Automotive Limited
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Deployments
- Financial Details
- Others
- Thyssenkrupp Presta AG
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Deployments
- Financial Details
- Others
- Others
- Bosch
- Company Profiles
- Disclaimer
MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:
1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.
2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.
3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.
4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making
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