Electric Power Steering Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Global Automotive Electric Power Steering Market is Segmented by Type (Column Type, Pinion Type, and Dual Pinion Type), by Component Type (Steering Rack/Column, Sensor, Steering Motor, and Other Components), by Vehicle Type (Passenger Cars and Commercial Vehicles), and by Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Market Size and Forecast of the Automotive Electric Power Steering (EPS) Market are provided in terms of value in (USD billion) for the above-mentioned segments.

Electric Power Steering Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Automotive Electric Power Steering System Market Size

Automotive Electric Power Steering Systems Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
CAGR 6.26 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Medium

Major Players

Automotive Electric Power Steering Systems Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Automotive Electric Power Steering Systems Market with other markets in Automotive Industry

Automotive Materials & Coatings

Automotive Technology

Vehicles

Automotive Services

Auto Parts

Automotive Equipment

Automotive Electric Power Steering System Market Analysis

The Automotive Electric Power Steering Systems Market is expected to register a CAGR of 6.26% during the forecast period.

During the outbreak of the COVID-19 pandemic, the market was hit adversely because of the disruption caused in the supply chain as several major economies of the world were forced into lockdown and economic activities were halted during this period. All the manufacturing units and OEM plants stopped their production to adhere to the social distancing norms and restrict the spread of the virus. The demand for passenger vehicles also fell drastically during this period. Yet with the gradual opening up of economies, the demand returned to the market, and markets like China and India witnessed huge demand for passenger cars as the consumer preference changed from public transport to personal vehicles. The trend is expected to continue during the forecast period.

Electric power steering (EPS) system is an alternative to traditional steering systems, such as hydraulic and electro-hydraulic systems. The rising popularity of self-driving vehicles is fueling the demand growth in the electric power steering system market across the world. Vehicles that are equipped with electric power steering tend to have a reduced overall weight, which further increases fuel efficiency. On the contrary, when compared to the conventional steering systems, the electric power steering systems are costly, and a rise in vehicle recalls, owing to malfunctioning of sensors or other components, may hinder the growth of the market.

Electric systems are highly fuel-efficient, due to the absence of belt-driven hydraulic or manual pumps, which run constantly, whether assistance is required or not. EPS provides fuel savings as high as 0.4 l for every 100 km, along with a reduction in CO2 emissions of up to 7 g/km.

The Asia-Pacific region is the largest market for automobiles in the world. Despite the Chinese market experiencing sluggish growth, which is the largest automobile market in the world, the region is expected to lead in the automotive electric power steering (EPS) market. In addition, region is flourished with widely spread automotive suppliers in China, India etc. which are amintaing global supply chain capabilities.

Automotive Electric Power Steering System Industry Overview

The automotive electric power steering market is consolidated, with approximately more than half of the market share held by few companies, such as JTEKT Corporation, ZF Friedrichshafen AG, NSK Ltd, Mitsubishi Electric Corporation, and Nexteer Automotive.

The companies are focusing on diversifying their product line and customers, by launching new EPS systems with upgraded technology. For instance, 

  • In Septmber 2022, The Tottori Plant received a capital investment worth JPY 500 million from NOK Corporation . Under the investment, over the span of three years, the company will look forward to increase the manufacturing of its anti-vibration and soundproofing devices utilised around electric power steering (EPS), brakes, and gears of electric vehicles.
  • In August 2021, Nexteer Automotive announced the expansion of its pinion electric steering (EPS) systems to meet the needs of heavier electric vehicles. The new high-output solutions benefit OEM customers to steer heavier electric vehicle loads without the need for treditional premium EPS technologies for heavy load vehicles.

Automotive Electric Power Steering System Market Leaders

  1. JTEKT Corporation

  2. Nexteer Automotive Group Ltd

  3. NSK Ltd

  4. ZF Friedrichshafen AG

  5. Robert Bosch GmbH

  6. *Disclaimer: Major Players sorted in no particular order
Automotive Electric Power Steering Systems Market Concentration
Need More Details on Market Players and Competiters?
Download PDF

Automotive Electric Power Steering System Market News

  • In August 2022, NSK Ltd. announced its plan to revamp the steering operations. The company received an order for electric power steering (EPS) from the Volkswagen (VW) Group and announced its plans to start volume production during the spring of 2023.
  • In June 2022, Robert Bosch announced its plans to strengthen production and development capabilities in the field of mobility in Japan. Under this plan, the company will transfer its assembly line for electric power steering (EPS) systems for Japanese automakers from Robert Bosch Group's plant outside Japan to its Musashi Plant located in Namegawa Town.

Automotive Electric Power Steering System Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Drivers
  • 4.2 Market Restraints
  • 4.3 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Type
    • 5.1.1 Column Type
    • 5.1.2 Pinion Type
    • 5.1.3 Dual Pinion Type
  • 5.2 Component Type
    • 5.2.1 Steering Rack/Column
    • 5.2.2 Sensor
    • 5.2.3 Steering Motor
    • 5.2.4 Other Component Types
  • 5.3 Vehicle Type
    • 5.3.1 Passenger Cars
    • 5.3.2 Commercial Vehicles
  • 5.4 Geography
    • 5.4.1 North America
    • 5.4.1.1 United States
    • 5.4.1.2 Canada
    • 5.4.1.3 Rest of North America
    • 5.4.2 Europe
    • 5.4.2.1 Germany
    • 5.4.2.2 United Kingdom
    • 5.4.2.3 France
    • 5.4.2.4 Italy
    • 5.4.2.5 Russia
    • 5.4.2.6 Rest of Europe
    • 5.4.3 Asia-Pacific
    • 5.4.3.1 China
    • 5.4.3.2 Japan
    • 5.4.3.3 India
    • 5.4.3.4 South Korea
    • 5.4.3.5 Rest of Asia-Pacific
    • 5.4.4 South America
    • 5.4.4.1 Brazil
    • 5.4.4.2 Argentina
    • 5.4.4.3 Rest of South America
    • 5.4.5 Middle-East and Africa
    • 5.4.5.1 South Africa
    • 5.4.5.2 Egypt
    • 5.4.5.3 United Arab Emirates
    • 5.4.5.4 Rest of Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Vendor Market Share
  • 6.2 Company Profiles*
    • 6.2.1 Hubei Henglong Auto System Group
    • 6.2.2 Denso Corporation
    • 6.2.3 GKN PLC
    • 6.2.4 Hitachi Automotive Systems Ltd
    • 6.2.5 Hyundai Mobis Co. Ltd
    • 6.2.6 JTEKT Corporation
    • 6.2.7 Mitsubishi Electric Corporation
    • 6.2.8 Nexteer Automotive
    • 6.2.9 NSK Ltd
    • 6.2.10 Robert Bosch GmbH
    • 6.2.11 Thyssenkrupp Presta AG
    • 6.2.12 ZF Friedrichshafen AG

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Automotive Electric Power Steering System Industry Segmentation

The electric power steering (EPS) system uses an electric motor, instead of a pump, to steer the wheel. The usage of the pump continually places a load on the engine, in turn, affecting the fuel consumption and performance of the vehicle.

The Automotive Electric Power Steering (EPS) Market is Segmented by Type (Column Type, Pinion Type, and Dual Pinion Type), by Component Type (Steering Rack/Column, Sensor, Steering Motor, and Other Components), by Vehicle Type (Passenger Cars and Commercial Vehicles), and by Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). 

Type Column Type
Pinion Type
Dual Pinion Type
Component Type Steering Rack/Column
Sensor
Steering Motor
Other Component Types
Vehicle Type Passenger Cars
Commercial Vehicles
Geography North America United States
Canada
Rest of North America
Europe Germany
United Kingdom
France
Italy
Russia
Rest of Europe
Asia-Pacific China
Japan
India
South Korea
Rest of Asia-Pacific
South America Brazil
Argentina
Rest of South America
Middle-East and Africa South Africa
Egypt
United Arab Emirates
Rest of Middle-East and Africa
Need A Different Region or Segment?
Customize Now

Automotive Electric Power Steering System Market Research FAQs

What is the current Automotive Electric Power Steering Systems Market size?

The Automotive Electric Power Steering Systems Market is projected to register a CAGR of 6.26% during the forecast period (2025-2030)

Who are the key players in Automotive Electric Power Steering Systems Market?

JTEKT Corporation, Nexteer Automotive Group Ltd, NSK Ltd, ZF Friedrichshafen AG and Robert Bosch GmbH are the major companies operating in the Automotive Electric Power Steering Systems Market.

Which is the fastest growing region in Automotive Electric Power Steering Systems Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Automotive Electric Power Steering Systems Market?

In 2025, the Asia-Pacific accounts for the largest market share in Automotive Electric Power Steering Systems Market.

What years does this Automotive Electric Power Steering Systems Market cover?

The report covers the Automotive Electric Power Steering Systems Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Automotive Electric Power Steering Systems Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Electric Power Steering (EPS) Industry Report

The Global Automotive Electric Power Steering Market is a crucial segment within the automotive industry, segmented by type, component type, vehicle type, and geography. The market size and forecast are provided in terms of value for these segments, offering a comprehensive industry overview. This market analysis includes a detailed market forecast outlook, historical overview, and insights into market growth.

The industry report highlights the importance of electric power steering (EPS) systems in modern vehicles, emphasizing their role in enhancing vehicle performance and safety. With the rise of advanced driver-assistance systems and the push for more fuel-efficient vehicles, the demand for EPS systems is expected to grow significantly.

Market research indicates that the industry size is expanding, driven by increasing adoption in passenger cars and commercial vehicles. The market segmentation by type includes column type, pinion type, and dual pinion type, each catering to different vehicle requirements. Component types such as steering rack/column, sensors, and steering motors are also crucial in this market.

Industry trends suggest a growing preference for EPS systems due to their advantages over traditional hydraulic systems, including lower energy consumption and better integration with electronic systems. The market value is projected to rise, supported by technological advancements and increasing vehicle production.

Market leaders in the EPS market are focusing on innovation and strategic partnerships to maintain their competitive edge. The industry outlook remains positive, with significant opportunities for growth in emerging markets. Industry statistics and market data support this optimistic view, highlighting the potential for substantial market growth.

The report example provided by Mordor Intelligence™ offers a detailed industry analysis, including market predictions and a market review. The report pdf is available for those interested in a deeper dive into the industry information and industry research.

In summary, the Global Automotive Electric Power Steering Market is poised for significant growth, driven by advancements in technology and increasing demand for efficient and safe steering systems. The market segmentation, market forecast, and industry trends all point towards a robust future for this market.