Global Electric Power Steering Market 2024-2028

The electric power steering market is forecasted to grow by USD 7.33 bn during 2023-2028, accelerating at a CAGR of 5.05% during the forecast period. The report on the electric power steering market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by stringent regulations to control vehicular emissions, sharing of increase in production costs by OEMs and end-users, and rising adoption of EPS in entry-level and mid-segment vehicles.

Market Scope
Base Year	2023
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	4.73%
CAGR	5.05%
Incremental Value	$7.33bn

Technavio's electric power steering market is segmented as below:

By Type

Collapsible
Rigid

By Application

Passenger car
Commercial vehicle

By Geographical Landscape

APAC
North America
Europe
South America
Middle East and Africa

This study identifies the steer-by-wire technology gaining adoption in cvs as one of the prime reasons driving the electric power steering market growth during the next few years. Also, development of portable steering wheel angle measurement sensors and development of 3D magnetic steering sensors for EPS will lead to sizable demand in the market.

The report on the electric power steering market covers the following areas:

Electric power steering market sizing
Electric power steering market forecast
Electric power steering market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading electric power steering market vendors that include DENSO Corp., GKN Sinter Metals Engineering GmbH, HELLA GmbH and Co. KGaA, Hitachi Ltd., Infineon Technologies AG, JTEKT Corp., Knorr Bremse AG, Mando Aftermarket North America, Mitsubishi Electric Corp., Nexteer Automotive Group Ltd., Nissan Motor Co. Ltd., NSK Ltd., NXP Semiconductors NV, Robert Bosch GmbH, STMicroelectronics International N.V., TT Electronics Plc, Valeo SA, Zapi Group, and ZF Friedrichshafen AG. Also, the electric power steering market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR44716

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Global Market Characteristics
Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
Exhibit 05: Executive Summary - Chart on Market Segmentation by Type
Exhibit 06: Executive Summary - Chart on Market Segmentation by Application
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global electric power steering market 2018 - 2022
Exhibit 18: Historic Market Size - Data Table on global electric power steering market 2018 - 2022 ($ billion)
4.2 Type Segment Analysis 2018 - 2022
Exhibit 19: Historic Market Size - Type Segment 2018 - 2022 ($ billion)
4.3 Application Segment Analysis 2018 - 2022
Exhibit 20: Historic Market Size - Application Segment 2018 - 2022 ($ billion)
4.4 Geography Segment Analysis 2018 - 2022
Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ billion)
4.5 Country Segment Analysis 2018 - 2022
Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Type

6.1 Market segments
Exhibit 30: Chart on Type - Market share 2023-2028 (%)
Exhibit 31: Data Table on Type - Market share 2023-2028 (%)
6.2 Comparison by Type
Exhibit 32: Chart on Comparison by Type
Exhibit 33: Data Table on Comparison by Type
6.3 Collapsible - Market size and forecast 2023-2028
Exhibit 34: Chart on Collapsible - Market size and forecast 2023-2028 ($ billion)
Exhibit 35: Data Table on Collapsible - Market size and forecast 2023-2028 ($ billion)
Exhibit 36: Chart on Collapsible - Year-over-year growth 2023-2028 (%)
Exhibit 37: Data Table on Collapsible - Year-over-year growth 2023-2028 (%)
6.4 Rigid - Market size and forecast 2023-2028
Exhibit 38: Chart on Rigid - Market size and forecast 2023-2028 ($ billion)
Exhibit 39: Data Table on Rigid - Market size and forecast 2023-2028 ($ billion)
Exhibit 40: Chart on Rigid - Year-over-year growth 2023-2028 (%)
Exhibit 41: Data Table on Rigid - Year-over-year growth 2023-2028 (%)
6.5 Market opportunity by Type
Exhibit 42: Market opportunity by Type ($ billion)
Exhibit 43: Data Table on Market opportunity by Type ($ billion)

7 Market Segmentation by Application

7.1 Market segments
Exhibit 44: Chart on Application - Market share 2023-2028 (%)
Exhibit 45: Data Table on Application - Market share 2023-2028 (%)
7.2 Comparison by Application
Exhibit 46: Chart on Comparison by Application
Exhibit 47: Data Table on Comparison by Application
7.3 Passenger car - Market size and forecast 2023-2028
Exhibit 48: Chart on Passenger car - Market size and forecast 2023-2028 ($ billion)
Exhibit 49: Data Table on Passenger car - Market size and forecast 2023-2028 ($ billion)
Exhibit 50: Chart on Passenger car - Year-over-year growth 2023-2028 (%)
Exhibit 51: Data Table on Passenger car - Year-over-year growth 2023-2028 (%)
7.4 Commercial vehicle - Market size and forecast 2023-2028
Exhibit 52: Chart on Commercial vehicle - Market size and forecast 2023-2028 ($ billion)
Exhibit 53: Data Table on Commercial vehicle - Market size and forecast 2023-2028 ($ billion)
Exhibit 54: Chart on Commercial vehicle - Year-over-year growth 2023-2028 (%)
Exhibit 55: Data Table on Commercial vehicle - Year-over-year growth 2023-2028 (%)
7.5 Market opportunity by Application
Exhibit 56: Market opportunity by Application ($ billion)
Exhibit 57: Data Table on Market opportunity by Application ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
Exhibit 59: Chart on Market share By Geographical Landscape 2023-2028 (%)
Exhibit 60: Data Table on Market share By Geographical Landscape 2023-2028 (%)
9.2 Geographic comparison
Exhibit 61: Chart on Geographic comparison
Exhibit 62: Data Table on Geographic comparison
9.3 APAC - Market size and forecast 2023-2028
Exhibit 63: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
Exhibit 64: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
Exhibit 65: Chart on APAC - Year-over-year growth 2023-2028 (%)
Exhibit 66: Data Table on APAC - Year-over-year growth 2023-2028 (%)
9.4 North America - Market size and forecast 2023-2028
Exhibit 67: Chart on North America - Market size and forecast 2023-2028 ($ billion)
Exhibit 68: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
Exhibit 69: Chart on North America - Year-over-year growth 2023-2028 (%)
Exhibit 70: Data Table on North America - Year-over-year growth 2023-2028 (%)
9.5 Europe - Market size and forecast 2023-2028
Exhibit 71: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
Exhibit 72: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
Exhibit 73: Chart on Europe - Year-over-year growth 2023-2028 (%)
Exhibit 74: Data Table on Europe - Year-over-year growth 2023-2028 (%)
9.6 South America - Market size and forecast 2023-2028
Exhibit 75: Chart on South America - Market size and forecast 2023-2028 ($ billion)
Exhibit 76: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
Exhibit 77: Chart on South America - Year-over-year growth 2023-2028 (%)
Exhibit 78: Data Table on South America - Year-over-year growth 2023-2028 (%)
9.7 Middle East and Africa - Market size and forecast 2023-2028
Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
9.8 US - Market size and forecast 2023-2028
Exhibit 83: Chart on US - Market size and forecast 2023-2028 ($ billion)
Exhibit 84: Data Table on US - Market size and forecast 2023-2028 ($ billion)
Exhibit 85: Chart on US - Year-over-year growth 2023-2028 (%)
Exhibit 86: Data Table on US - Year-over-year growth 2023-2028 (%)
9.9 China - Market size and forecast 2023-2028
Exhibit 87: Chart on China - Market size and forecast 2023-2028 ($ billion)
Exhibit 88: Data Table on China - Market size and forecast 2023-2028 ($ billion)
Exhibit 89: Chart on China - Year-over-year growth 2023-2028 (%)
Exhibit 90: Data Table on China - Year-over-year growth 2023-2028 (%)
9.10 Japan - Market size and forecast 2023-2028
Exhibit 91: Chart on Japan - Market size and forecast 2023-2028 ($ billion)
Exhibit 92: Data Table on Japan - Market size and forecast 2023-2028 ($ billion)
Exhibit 93: Chart on Japan - Year-over-year growth 2023-2028 (%)
Exhibit 94: Data Table on Japan - Year-over-year growth 2023-2028 (%)
9.11 Germany - Market size and forecast 2023-2028
Exhibit 95: Chart on Germany - Market size and forecast 2023-2028 ($ billion)
Exhibit 96: Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
Exhibit 97: Chart on Germany - Year-over-year growth 2023-2028 (%)
Exhibit 98: Data Table on Germany - Year-over-year growth 2023-2028 (%)
9.12 South Korea - Market size and forecast 2023-2028
Exhibit 99: Chart on South Korea - Market size and forecast 2023-2028 ($ billion)
Exhibit 100: Data Table on South Korea - Market size and forecast 2023-2028 ($ billion)
Exhibit 101: Chart on South Korea - Year-over-year growth 2023-2028 (%)
Exhibit 102: Data Table on South Korea - Year-over-year growth 2023-2028 (%)
9.13 Market opportunity By Geographical Landscape
Exhibit 103: Market opportunity By Geographical Landscape ($ billion)
Exhibit 104: Data Tables on Market opportunity By Geographical Landscape ($ billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 105: Impact of drivers and challenges in 2023 and 2028
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 107: Overview on factors of disruption
11.4 Industry risks
Exhibit 108: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 109: Vendors covered
12.2 Market positioning of vendors
Exhibit 110: Matrix on vendor position and classification
12.3 DENSO Corp.
Exhibit 111: DENSO Corp. - Overview
Exhibit 112: DENSO Corp. - Business segments
Exhibit 113: DENSO Corp. - Key news
Exhibit 114: DENSO Corp. - Key offerings
Exhibit 115: DENSO Corp. - Segment focus
12.4 GKN Sinter Metals Engineering GmbH
Exhibit 116: GKN Sinter Metals Engineering GmbH - Overview
Exhibit 117: GKN Sinter Metals Engineering GmbH - Product / Service
Exhibit 118: GKN Sinter Metals Engineering GmbH - Key offerings
12.5 HELLA GmbH and Co. KGaA
Exhibit 119: HELLA GmbH and Co. KGaA - Overview
Exhibit 120: HELLA GmbH and Co. KGaA - Business segments
Exhibit 121: HELLA GmbH and Co. KGaA - Key news
Exhibit 122: HELLA GmbH and Co. KGaA - Key offerings
Exhibit 123: HELLA GmbH and Co. KGaA - Segment focus
12.6 Hitachi Ltd.
Exhibit 124: Hitachi Ltd. - Overview
Exhibit 125: Hitachi Ltd. - Business segments
Exhibit 126: Hitachi Ltd. - Key news
Exhibit 127: Hitachi Ltd. - Key offerings
Exhibit 128: Hitachi Ltd. - Segment focus
12.7 Infineon Technologies AG
Exhibit 129: Infineon Technologies AG - Overview
Exhibit 130: Infineon Technologies AG - Business segments
Exhibit 131: Infineon Technologies AG - Key news
Exhibit 132: Infineon Technologies AG - Key offerings
Exhibit 133: Infineon Technologies AG - Segment focus
12.8 Knorr Bremse AG
Exhibit 134: Knorr Bremse AG - Overview
Exhibit 135: Knorr Bremse AG - Business segments
Exhibit 136: Knorr Bremse AG - Key offerings
Exhibit 137: Knorr Bremse AG - Segment focus
12.9 Mando Aftermarket North America
Exhibit 138: Mando Aftermarket North America - Overview
Exhibit 139: Mando Aftermarket North America - Product / Service
Exhibit 140: Mando Aftermarket North America - Key offerings
12.10 Mitsubishi Electric Corp.
Exhibit 141: Mitsubishi Electric Corp. - Overview
Exhibit 142: Mitsubishi Electric Corp. - Business segments
Exhibit 143: Mitsubishi Electric Corp. - Key news
Exhibit 144: Mitsubishi Electric Corp. - Key offerings
Exhibit 145: Mitsubishi Electric Corp. - Segment focus
12.11 Nexteer Automotive Group Ltd.
Exhibit 146: Nexteer Automotive Group Ltd. - Overview
Exhibit 147: Nexteer Automotive Group Ltd. - Business segments
Exhibit 148: Nexteer Automotive Group Ltd. - Key news
Exhibit 149: Nexteer Automotive Group Ltd. - Key offerings
Exhibit 150: Nexteer Automotive Group Ltd. - Segment focus
12.12 NSK Ltd.
Exhibit 151: NSK Ltd. - Overview
Exhibit 152: NSK Ltd. - Product / Service
Exhibit 153: NSK Ltd. - Key offerings
12.13 NXP Semiconductors NV
Exhibit 154: NXP Semiconductors NV - Overview
Exhibit 155: NXP Semiconductors NV - Product / Service
Exhibit 156: NXP Semiconductors NV - Key news
Exhibit 157: NXP Semiconductors NV - Key offerings
12.14 Robert Bosch GmbH
Exhibit 158: Robert Bosch GmbH - Overview
Exhibit 159: Robert Bosch GmbH - Business segments
Exhibit 160: Robert Bosch GmbH - Key news
Exhibit 161: Robert Bosch GmbH - Key offerings
Exhibit 162: Robert Bosch GmbH - Segment focus
12.15 TT Electronics Plc
Exhibit 163: TT Electronics Plc - Overview
Exhibit 164: TT Electronics Plc - Business segments
Exhibit 165: TT Electronics Plc - Key offerings
Exhibit 166: TT Electronics Plc - Segment focus
12.16 Valeo SA
Exhibit 167: Valeo SA - Overview
Exhibit 168: Valeo SA - Business segments
Exhibit 169: Valeo SA - Key news
Exhibit 170: Valeo SA - Key offerings
Exhibit 171: Valeo SA - Segment focus
12.17 ZF Friedrichshafen AG
Exhibit 172: ZF Friedrichshafen AG - Overview
Exhibit 173: ZF Friedrichshafen AG - Business segments
Exhibit 174: ZF Friedrichshafen AG - Key news
Exhibit 175: ZF Friedrichshafen AG - Key offerings
Exhibit 176: ZF Friedrichshafen AG - Segment focus

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 177: Inclusions checklist
Exhibit 178: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 179: Currency conversion rates for US$
13.4 Research methodology
Exhibit 180: Research methodology
Exhibit 181: Validation techniques employed for market sizing
Exhibit 182: Information sources
13.5 List of abbreviations
Exhibit 183: List of abbreviations