South Africa Electric Power Steering Market Size

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

Market Size of South Africa Electric Power Steering Industry

South Africa Automotive EPS market market
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 7.90 %
Market Concentration Medium

Major Players

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*Disclaimer: Major Players sorted in no particular order

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South Africa Electric Power Steering Market Analysis

South Africa Automotive Electric Power Steering Market is anticipated to register a CAGR of about 7.9% during the forecast period (2020 - 2025).

Automotive EPS Motor is an integral component, due to its basic functionality of allowing the driver to steer the car by augmenting steering efforts needed to turn the steering wheel. Factors such as extensive ownership of personal vehicles and growing technological advancements will see the rise of the EPS market.

Among regions, the United Kingdom is one of the dominating nations in the automotive EPS market. The EPS market is primarily driven by the growing luxury vehicle production and sales, owing to the increasing preference for safety and comfort. Also, rapid electrification of vehicles and rising stringency of emission norms in developed economies such as the United Kingdom is expected to increase the demand for EPS installed cars.

The rising popularity of self-driving vehicles fueled demand for the electric power steering system market and the ECU worldwide. Vehicles that are equipped with EPS tend to have a reduced overall weight, which further increases fuel efficiency.

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