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Market Snapshot

CAGR:6.18

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	6.18

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Report Overview

Automotive Electric Power Steering (EPS) Market Analysis Report 2023-2032

The Automotive Electric Power Steering (EPS) Market is poised to experience a Compound Annual Growth Rate (CAGR) of 6.72% between 2022 and 2032. Over this period, the market size is expected to witness substantial growth, reaching USD 12.87 billion. The expansion of this market is driven by various factors, including advanced vehicle technologies, a shift toward electric vehicles, and a focus on improving driving experience and fuel efficiency.

Automotive Electric Power Steering (EPS) Market Overview

Drivers

One of the key drivers for the growth of the Automotive Electric Power Steering (EPS) Market is the integration of advanced vehicle technologies. Modern vehicles increasingly rely on electronic systems for improved control and safety. Electric Power Steering (EPS) offers more precise control, better responsiveness, and the potential for advanced driver-assistance features.

The shift toward electric vehicles (EVs) is another significant driver. Electric power steering systems are a natural fit for EVs due to their efficiency, precision, and compatibility with electric drivetrains. The growing popularity of EVs worldwide is boosting the demand for EPS systems.

Trends

A notable trend in the Automotive Electric Power Steering (EPS) Market is the development of steer-by-wire technology. This innovative approach eliminates the mechanical connection between the steering wheel and the wheels, allowing for more design flexibility and the potential for autonomous driving capabilities.

Additionally, there's a growing emphasis on fuel efficiency. EPS systems consume less power compared to traditional hydraulic systems, contributing to improved fuel efficiency. Automakers are increasingly adopting EPS as part of their strategy to meet stringent fuel economy and emissions standards.

Restraints

One of the challenges in the Automotive Electric Power Steering (EPS) Market is the cost associated with advanced EPS systems. These systems are typically more expensive to manufacture and install compared to traditional hydraulic steering systems, which can deter price-conscious consumers and automakers.

Moreover, concerns about system reliability are a potential restraint. The reliance on electronic components in EPS systems means they must be robust and dependable. Any issues with EPS can lead to significant safety concerns, making system reliability crucial.

Automotive Electric Power Steering (EPS) Market Segmentation By Type

EPS systems come in various types, each with its advantages. The segments in this category often include column-assist EPS, rack-assist EPS, and pinion-assist EPS.

Automotive Electric Power Steering (EPS) Market Segmentation By Vehicle Type

Different types of vehicles require varying EPS solutions. Market segments typically include passenger cars, light commercial vehicles, and heavy commercial vehicles.

Regional Overview:

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North America, including the United States and Canada, is expected to lead the global Automotive Electric Power Steering (EPS) Market. The region has a mature automotive industry, a strong focus on technology integration, and a growing market for electric vehicles.

Europe is also a significant market, characterized by strict emissions regulations and a well-established automotive industry. European automakers are increasingly adopting EPS systems to meet environmental standards and enhance the driving experience.

Automotive Electric Power Steering (EPS) Market Customer Landscape

Understanding customer preferences and needs is vital in this market. The report provides insights into what customers expect from EPS systems, from improved steering control to enhanced safety features. This understanding can guide manufacturers in developing customer-centric solutions.

Major Automotive Electric Power Steering (EPS) Market Companies

Prominent players in the Automotive Electric Power Steering (EPS) Market are investing in research and development to introduce more advanced and efficient EPS systems. Strategic collaborations and partnerships are also common strategies to expand market reach.

Sample list of major companies in the market:

Robert Bosch Automotive Steering GmbH
JTEKT Corporation
Nexteer Automotive
Thyssenkrupp Presta AG
Mitsubishi Electric Corporation

Qualitative and quantitative analyses of these companies offer valuable insights into the competitive landscape. This analysis enables stakeholders to understand market dynamics and assess the strengths and weaknesses of key players.

Segment Overview

The Automotive Electric Power Steering (EPS) Market report provides revenue forecasts at the global, regional, and country levels. The report includes an analysis of emerging trends and growth opportunities spanning from 2019 to 2032.

Type Outlook (USD Billion, 2019 - 2032)

Column-Assist EPS
Rack-Assist EPS
Pinion-Assist EPS

Vehicle Type Outlook (USD Billion, 2019 - 2032)

Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles

Geography Outlook (USD Billion, 2019 - 2032)

North America

United States
Canada

Europe

United Kingdom
Germany
France
Rest of Europe

Asia-Pacific (APAC)

China
Japan
India
Rest of APAC

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

United Arab Emirates
South Africa
Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL Russia Automotive Electric Power Steering (EPS) MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Russia Automotive Electric Power Steering (EPS) MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Russia Automotive Electric Power Steering (EPS) Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Power Of Suppliers

4.5.2. Power Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. Russia Automotive Electric Power Steering (EPS) MARKET BY type landscape

SIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 Column Type

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 Pinion Type

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.4 Dual Pinion Type

5.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Russia Automotive Electric Power Steering (EPS) MARKET BY vehicle type INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 Passenger Cars

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 Commercial vehicles

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Russia Automotive Electric Power Steering (EPS) MARKET REGIONAL OUTLOOK

7.1. Russia Automotive Electric Power Steering (EPS) Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.2. North America Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Russia Automotive Electric Power Steering (EPS) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 JTEKT Corporation

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2 Nexteer Automotive Group

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3 NSK Ltd

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4 ZF Friedrichshafen AG

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5 Robert Bosch GmbH

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6 Company 6

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7 Company 7

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8 Company 8

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9 Company 9

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiatives

9.10 Company 10

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Automotive Electric Power Steering Eps Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032