Automotive Electric Power Steering Systems Market Share

Statistics for the 2023 & 2024 Automotive Electric Power Steering Systems market share, created by Mordor Intelligence™ Industry Reports. Automotive Electric Power Steering Systems share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

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Market Share of Automotive Electric Power Steering Systems Industry

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

*Disclaimer: Major Players sorted in no particular order

Automotive Electric Power Steering Systems Market Concentration

Electric Power Steering Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)