Electric Power Steering Market by Type, Component, Technology, Mechanism, Vehicle Type, Distribution Channel, Application, End-user

List of Tables

The Electric Power Steering Market was valued at USD 27.09 billion in 2024 and is projected to grow to USD 28.66 billion in 2025, with a CAGR of 5.92%, reaching USD 38.28 billion by 2030.

KEY MARKET STATISTICS
Base Year [2024]	USD 27.09 billion
Estimated Year [2025]	USD 28.66 billion
Forecast Year [2030]	USD 38.28 billion
CAGR (%)	5.92%

Electric power steering (EPS) has emerged as a critical technological advancement in the automotive industry, transforming vehicle dynamics and safety standards. Over the past decade, the integration of electronic control systems and advanced motor technologies has redefined the steering mechanism, offering improved maneuverability, reduced driver fatigue, and enhanced vehicle responsiveness. The evolution from conventional hydraulic systems to sophisticated electric-based solutions reflects an industry-wide shift towards greater efficiency and sustainability.

Recent developments in sensor technology and control units have expanded the possibilities for driver assistance features, paving the way for automated and connected mobility solutions. EPS systems not only address evolving regulatory standards related to emissions and fuel efficiency, but they also enhance the driving experience in both commercial and passenger vehicles. Innovations continue to emerge, driven by the need for precise steering control and the overall demand for energy-efficient transportation.

This summary provides an encompassing overview of the EPS market, outlining the transformative shifts, segmentation insights, global regional trends, and key company strategies. The content is designed to offer both a detailed analysis for experts and an accessible narrative for decision-makers poised to invest in or leverage the latest developments in the electric power steering domain.

Transformative Shifts in the Electric Power Steering Landscape

The electric power steering sector is at the forefront of a major technological revolution. Driven by advancements in microcontroller-based systems and brushless motor technologies, the market has witnessed substantial improvements in performance, safety, and energy efficiency. Shifts in consumer expectations along with stricter emissions regulations are forcing manufacturers to adopt more innovative approaches and re-engineer legacy systems.

Automotive design has evolved with the integration of electronic control units that enable real-time adjustments and enhanced vehicle dynamics. Manufacturers are increasingly investing in research and development to stay ahead of the curve by incorporating automated features and connectivity solutions. This transformation is evident in the adoption of more robust sensors and advanced algorithmic processing, which support adaptive steering responses under varying driving conditions.

Regulatory frameworks across major markets now emphasize sustainability and operational efficiency. As a result, production lines are undergoing digital overhauls, and collaborative partnerships between OEMs and technology providers are becoming common. The confluence of innovation, strict regulatory oversight, and growing market demand ensures that the electric power steering landscape continues to evolve at a rapid pace.

Key Segmentation Insights in the Electric Power Steering Market

A deep dive into market segmentation reveals a complex yet strategically segmented landscape that underscores the multifaceted nature of the electric power steering market. The analysis begins with the segmentation based on type which examines variations such as column-assist, pinion-assist, and rack-assist electric power steering systems, with the pinion-assist category further refined into dual pinion assist and single pinion assist configurations. This detailed breakdown allows stakeholders to target innovations tailored to specific operational requirements.

Further segmentation based on component dissects the market by analyzing critical parts including bearings, columns, electric motors-differentiated into brush and brushless motor types-electronic control units, intermediate shafts, mechanical racks & pinions, sensors, and steering gears. In the realm of technology, a pivotal differentiation is made between brushless motor technologies and microcontroller-based systems, both of which serve as the backbone for modern EPS solutions.

Additional segmentation analyzes the mechanism design, highlighting contrasts between collapsible and rigid mechanisms, while vehicle type segmentation distinguishes between commercial and passenger vehicles. The commercial segment itself is nuanced into heavy and light commercial vehicles, whereas the passenger category is further divided into sedans and SUVs. Distribution channels also offer distinct insights, comparing offline and online sales strategies. Finally, application and end-user segments examine automated mobility, connected mobility, and support for powertrain systems and electrified mobility, alongside the dichotomy between aftermarket and original equipment manufacturers. Each segmentation provides a layer of insight that collectively contributes to a holistic understanding of the market dynamics.

Based on Type, market is studied across Column-Assist Electric Power Steering, Pinion Assist Type Electric Power Steering, and Rack-Assist Electric Power Steering. The Pinion Assist Type Electric Power Steering is further studied across Dual Pinion Assist and Single Pinion Assist.

Based on Component, market is studied across Bearing, Column, Electric Motor, Electronic Control Unit, Intermediate Shaft, Mechanical Rack & Pinion, Sensors, and Steering Gear. The Electric Motor is further studied across Brush Motor and Brushless Motor.

Based on Technology, market is studied across Brushless Motor Technologies and Microcontroller-based Systems.

Based on Mechanism, market is studied across Collapsible Mechanism and Rigid Mechanism.

Based on Vehicle Type, market is studied across Commercial Vehicles and Passenger Vehicles. The Commercial Vehicles is further studied across Heavy Commercial Vehicles and Light Commercial Vehicles. The Passenger Vehicles is further studied across Sedans and SUVs.

Based on Distribution Channel, market is studied across Offline Sales and Online Sales.

Based on Application, market is studied across Automated Mobility, Connected Mobility, and Powertrain Systems & Electrified Mobility.

Based on End-user, market is studied across Aftermarket and Original Equipment Manufacturers.

Global Regional Insights into Electric Power Steering Trends

The electric power steering market displays significant regional diversity that is vital for stakeholders to consider. In the Americas, the market benefits from robust manufacturing infrastructure and a strong emphasis on innovative technologies. The presence of established industrial hubs combined with progressive regulatory policies has encouraged domestic as well as international investments in EPS solutions.

Across Europe, the Middle East, and Africa, the market is characterized by a blend of mature automotive industries and emerging regional players. Progressive government initiatives aimed at reducing carbon footprints, coupled with stringent safety regulations, have accelerated the adoption of advanced EPS systems. This region is now seen as a critical arena for testing state-of-the-art steering innovations, incorporating both legacy automotive expertise and modern design paradigms.

The Asia-Pacific region remains a dynamic and rapidly evolving market, with high volumes of vehicle production and an increasing emphasis on integrating digital technologies into automotive systems. Rapid urbanization and growing economies drive the demand for both passenger mobility solutions and commercial vehicle advancements. The heightened focus on research and development and favorable governmental policies further enhance the growth potential, making Asia-Pacific a key strategic market for future investments.

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

Notable Companies Driving the Electric Power Steering Market

Industry leaders are setting the pace with innovative solutions and strategic collaborations in the electric power steering market. The landscape features an array of global powerhouses such as BorgWarner Inc., Continental AG, and Denso Corporation, each leveraging their technical expertise and expansive product portfolios to meet evolving consumer demands. Georgsmarienhutte Holding GmbH and GKN Automotive Limited continue to redefine quality benchmarks through precise engineering and robust design philosophies, while Hitachi Astemo, Ltd. and Hubei Henglong Auto System Group Co., Ltd. push the envelope in integrating advanced electronic and mechanical systems.

Hyundai Mobis Co., Ltd., Infineon Technologies AG, and JTEKT Corporation have quickly become key players by investing heavily in R&D and acquiring niche players in the technology sphere. Companies like Magna International Inc., Mando Corporation, Mazda Motor Corporation, and Mitsubishi Electric Corporation are rapidly adapting to lean manufacturing and sustainability-focused design strategies. Moreover, Nexteer Automotive Corporation, Nissan Motor Co., Ltd., NSK Ltd., and Renesas Electronics Corporation exemplify the spirit of innovation in precision control and adaptive steering technologies.

Robert Bosch GmbH, Rollax GmbH & CO., ThyssenKrupp AG, Yubei Steering System Co., Ltd., and ZF Friedrichshafen AG further underscore the competitive nature of the sector. Their relentless pursuit of excellence combined with substantial investment in cutting edge production techniques has solidified their positions in a marketplace that rewards both innovation and operational efficiency.

The report delves into recent significant developments in the Electric Power Steering Market, highlighting leading vendors and their innovative profiles. These include BorgWarner Inc., Continental AG, Denso Corporation, Georgsmarienhutte Holding GmbH, GKN Automotive Limited, Hitachi Astemo, Ltd., Hubei Henglong Auto System Group Co., Ltd., Hyundai Mobis Co., Ltd., Infineon Technologies AG, JTEKT Corporation, Magna International Inc., Mando Corporation, Mazda Motor Corporation, Mitsubishi Electric Corporation, Nexteer Automotive Corporation, Nissan Motor Co., Ltd., NSK Ltd., Renesas Electronics Corporation, Robert Bosch GmbH, Rollax GmbH & CO., ThyssenKrupp AG, Yubei Steering System Co., Ltd., and ZF Friedrichshafen AG. Actionable Recommendations for Industry Leaders in EPS

Industry leaders must prioritize investment in next-generation technologies to remain competitive in the rapidly evolving electric power steering market. It is recommended that companies focus on expanding their research and development capabilities, particularly in areas such as microcontroller-based systems and brushless motor technologies. Integrating advanced sensor technology and leveraging data analytics can provide insights that drive continuous product innovation and help tailor solutions to meet diverse customer requirements.

Strategic collaborations and partnerships with technology firms can lead to the creation of more robust EPS systems, which not only enhance driver safety but also provide flexible and adaptive solutions for varying vehicle types. Furthermore, optimizing distribution channels to balance between traditional offline models and emerging online sales will ensure improved market penetration and customer engagement.

In addition to technology investment, it is crucial for industry stakeholders to monitor regulatory changes and adjust their strategies accordingly. Embracing sustainable practices, reducing material waste, and improving energy efficiency will not only meet legislative requirements but also cater to environmentally conscious consumers. A holistic approach that couples advanced engineering with proactive market strategies will position industry leaders to capture significant growth opportunities in the global market.

Conclusion: Charting the Future of Electric Power Steering

The electric power steering market is undergoing a period of unprecedented change driven by technological innovation, evolving consumer expectations, and a dynamic regulatory landscape. This comprehensive analysis has underscored the importance of detailed segmentation, regional insights, and notable company performances that collectively illuminate the state of the industry. The shift from traditional hydraulic systems towards more advanced electronic solutions represents not only a leap in technological performance but also a commitment to sustainable and efficient automotive design.

In summary, the trajectory of the EPS market is marked by strategic advancements in digital technologies, robust product enhancements, and expanding global demand. As manufacturers and technology providers continue to innovate, this persistent evolution promises to further redefine vehicle handling and safety standards in the coming years.

Product Code: MRR-732E7CFCB4F2

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising production and adoption of BEVs in the automotive sector
  - 5.1.1.2. Growing prevalence of electric and hybrid vehicles boosting the adoption of EPS systems
  - 5.1.1.3. Increasing popularity of energy efficient self-driven vehicles and hybrid cars
- 5.1.2. Restraints
  - 5.1.2.1. High cost of spare parts of the electric power steering wheel
- 5.1.3. Opportunities
  - 5.1.3.1. Investment in research and development to optimize EPS systems for BEVs
  - 5.1.3.2. Development of novel products in the electric power steering wheels
- 5.1.4. Challenges
  - 5.1.4.1. Rising concerns for vehicle recalls owing to EPS misfitting
5.2. Market Segmentation Analysis
- 5.2.1. Type: Growing usage of pinion assist type electric power steering in the automotive industry owing for precise steering control
- 5.2.2. Applications: Rising demand for EPS in autonomous vehicles for enhanced vehicle control
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Electric Power Steering Market, by Type

6.1. Introduction
6.2. Column-Assist Electric Power Steering
6.3. Pinion Assist Type Electric Power Steering
- 6.3.1. Dual Pinion Assist
- 6.3.2. Single Pinion Assist
6.4. Rack-Assist Electric Power Steering

7. Electric Power Steering Market, by Component

7.1. Introduction
7.2. Bearing
7.3. Column
7.4. Electric Motor
- 7.4.1. Brush Motor
- 7.4.2. Brushless Motor
7.5. Electronic Control Unit
7.6. Intermediate Shaft
7.7. Mechanical Rack & Pinion
7.8. Sensors
7.9. Steering Gear

8. Electric Power Steering Market, by Technology

8.1. Introduction
8.2. Brushless Motor Technologies
8.3. Microcontroller-based Systems

9. Electric Power Steering Market, by Mechanism

9.1. Introduction
9.2. Collapsible Mechanism
9.3. Rigid Mechanism

10. Electric Power Steering Market, by Vehicle Type

10.1. Introduction
10.2. Commercial Vehicles
- 10.2.1. Heavy Commercial Vehicles
- 10.2.2. Light Commercial Vehicles
10.3. Passenger Vehicles
- 10.3.1. Sedans
- 10.3.2. SUVs

11. Electric Power Steering Market, by Distribution Channel

11.1. Introduction
11.2. Offline Sales
11.3. Online Sales

12. Electric Power Steering Market, by Application

12.1. Introduction
12.2. Automated Mobility
12.3. Connected Mobility
12.4. Powertrain Systems & Electrified Mobility

13. Electric Power Steering Market, by End-user

13.1. Introduction
13.2. Aftermarket
13.3. Original Equipment Manufacturers

14. Americas Electric Power Steering Market

14.1. Introduction
14.2. Argentina
14.3. Brazil
14.4. Canada
14.5. Mexico
14.6. United States

15. Asia-Pacific Electric Power Steering Market

15.1. Introduction
15.2. Australia
15.3. China
15.4. India
15.5. Indonesia
15.6. Japan
15.7. Malaysia
15.8. Philippines
15.9. Singapore
15.10. South Korea
15.11. Taiwan
15.12. Thailand
15.13. Vietnam

16. Europe, Middle East & Africa Electric Power Steering Market

16.1. Introduction
16.2. Denmark
16.3. Egypt
16.4. Finland
16.5. France
16.6. Germany
16.7. Israel
16.8. Italy
16.9. Netherlands
16.10. Nigeria
16.11. Norway
16.12. Poland
16.13. Qatar
16.14. Russia
16.15. Saudi Arabia
16.16. South Africa
16.17. Spain
16.18. Sweden
16.19. Switzerland
16.20. Turkey
16.21. United Arab Emirates
16.22. United Kingdom

17. Competitive Landscape

17.1. Market Share Analysis, 2024
17.2. FPNV Positioning Matrix, 2024
17.3. Competitive Scenario Analysis
- 17.3.1. Cascade Drives introduced the TruEPS electric power steering system
- 17.3.2. Nexteer Automotive announced the expansion to introduce a Modular Pinion-Assist Electric Power Steering system
- 17.3.3. Strategic acquisition of Rane NSK enhances Rane Holdings' dominance
- 17.3.4. Volkswagen Group and mobileye partnered to enhance autonomous driving with advanced platform integration across luxury brands
17.4. Strategy Analysis & Recommendation

Companies Mentioned

1. BorgWarner Inc.
2. Continental AG
3. Denso Corporation
4. Georgsmarienhutte Holding GmbH
5. GKN Automotive Limited
6. Hitachi Astemo, Ltd.
7. Hubei Henglong Auto System Group Co., Ltd.
8. Hyundai Mobis Co., Ltd.
9. Infineon Technologies AG
10. JTEKT Corporation
11. Magna International Inc.
12. Mando Corporation
13. Mazda Motor Corporation
14. Mitsubishi Electric Corporation
15. Nexteer Automotive Corporation
16. Nissan Motor Co., Ltd.
17. NSK Ltd.
18. Renesas Electronics Corporation
19. Robert Bosch GmbH
20. Rollax GmbH & CO.
21. ThyssenKrupp AG
22. Yubei Steering System Co., Ltd.
23. ZF Friedrichshafen AG