PUBLISHER: QYResearch | PRODUCT CODE: 1862421
PUBLISHER: QYResearch | PRODUCT CODE: 1862421
The global market for Automotive Electric Power Steering was estimated to be worth US$ 18321 million in 2024 and is forecast to a readjusted size of US$ 21663 million by 2031 with a CAGR of 2.2% during the forecast period 2025-2031.
This report provides a comprehensive assessment of recent tariff adjustments and international strategic countermeasures on Automotive Electric Power Steering cross-border industrial footprints, capital allocation patterns, regional economic interdependencies, and supply chain reconfigurations.
In 2024, global Automotive Electric Power Steering production reached approximately 74.32 million units, with an average global market price of around US$ 247 per unit.
Automotive Electric Power Steering (EPS) is a system that assists the driver in steering the vehicle by using an electric motor instead of a traditional hydraulic pump. It adjusts the level of steering assistance based on vehicle speed and driving conditions, enhancing both control and fuel efficiency. EPS systems typically include components such as an electric motor, control unit, torque sensors, and steering gear, allowing for more precise and responsive handling.
The automotive electric power steering market represents a key segment in the broader automotive components industry, closely linked to trends in vehicle electrification, safety regulations, and driver assistance technologies. As automotive manufacturers seek to reduce fuel consumption and emissions, EPS systems have increasingly replaced hydraulic systems due to their superior efficiency and ease of integration with electronic control units. EPS not only supports steering but also enables features such as lane-keeping assist, automatic parking, and advanced driver assistance systems (ADAS). The market is driven by the growing demand for intelligent steering solutions in both internal combustion engine vehicles and electric vehicles. In addition, the need for weight reduction, lower maintenance costs, and enhanced driving experience further promotes the adoption of EPS across various vehicle segments. With continuous advancements in sensor technology and software algorithms, EPS systems are expected to play an even more central role in the transition to autonomous and semi-autonomous vehicles.
This report aims to provide a comprehensive presentation of the global market for Automotive Electric Power Steering, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Automotive Electric Power Steering by region & country, by Type, and by Application.
The Automotive Electric Power Steering market size, estimations, and forecasts are provided in terms of sales volume (K Units) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Automotive Electric Power Steering.
Market Segmentation
By Company
Segment by Type
Segment by Application
By Region
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Automotive Electric Power Steering manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Automotive Electric Power Steering in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Automotive Electric Power Steering in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.