Automotive Electric Power Steering Market Size and Market Trends: Complete Industry Overview (2024 to 2031

Automotive Electric Power Steering Market Trends, Growth Opportunities, and Forecast Scenarios

The automotive electric power steering market research reports indicate a growing demand for electric power steering systems due to their benefits such as improved fuel efficiency, enhanced handling, and ease of maintenance. The market is projected to witness significant growth in the coming years, driven by increasing vehicle production and technological advancements.

Key findings of the report include a shift towards electric power steering systems in place of traditional hydraulic systems, the rising preference for safety and comfort features in vehicles, and the increasing adoption of electric vehicles. Recommendations include investing in R&D to develop more advanced electric power steering systems, strengthening partnerships with OEMs, and expanding market presence in emerging economies.

The latest trends in the automotive electric power steering market include the integration of advanced driver assistance systems, the development of steer-by-wire technology, and the focus on lightweight and compact designs. Major challenges faced by the market include high initial costs, technical complexities, and concerns regarding cybersecurity.

Regulatory and legal factors specific to the market conditions include strict safety and emission regulations, increasing government initiatives to promote electric vehicles, and the need for compliance with industry standards and certifications. These factors are expected to drive innovation and drive market growth in the coming years.

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What is Automotive Electric Power Steering?

Automotive Electric Power Steering (EPS) is a significant technological advancement in the automotive industry, offering smoother, more precise steering control and increased fuel efficiency. This innovative system uses an electric motor to assist the driver in steering the vehicle, eliminating the need for hydraulic systems and reducing overall weight. The market for Automotive EPS has seen steady growth in recent years, driven by the rising demand for more environmentally friendly and fuel-efficient vehicles. The continuous advancements in technology and the increasing adoption of electric vehicles are expected to further fuel the growth of the Automotive EPS market in the coming years.

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Market Segmentation Analysis

Automotive Electric Power Steering market types include Column Assist EPS, Single-Pinion Assist EPS, Dual-Pinion Assist EPS, and Rack Assist EPS. Column Assist EPS provides steering assistance through a single motor attached to the steering column, while Single-Pinion, Dual-Pinion, and Rack Assist EPS utilize different pinion configurations to provide steering assistance. These systems cater to various vehicle types, including Passenger Cars and Commercial Vehicles, by offering improved maneuverability, steering control, and comfort for drivers, ultimately enhancing the overall driving experience.

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Country-level Intelligence Analysis 

The automotive electric power steering market is experiencing significant growth across multiple regions, with North America (NA), Asia Pacific (APAC), Europe, the United States (USA), and China leading the way. Among these regions, China is expected to dominate the market with the highest market share percent valuation. The increasing demand for fuel-efficient vehicles, advancements in electric power steering technology, and the growing automotive industry in China are driving this trend. As per market analysis, China is projected to hold a substantial market share percentage and remain a key player in the automotive electric power steering market in the foreseeable future.

Companies Covered: Automotive Electric Power Steering Market

JTEKToration, Robert Bosch Automotive Steering GmbH, NSK, Nexteer Automotive, ZF TRW Automotive Holdingsoration, Delphi Automotive, China Automotive Systems, Mandooration, and Showaoration are the key players in the Automotive Electric Power Steering market. Market leaders like Robert Bosch Automotive Steering GmbH and Nexteer Automotive have a strong presence and a wide range of product offerings, while newer entrants like China Automotive Systems are making strides with innovative technologies and competitive pricing.

These companies can help grow the Automotive Electric Power Steering market by investing in research and development to improve performance and efficiency, expanding distribution networks, and forming partnerships with automotive manufacturers to integrate their systems into new vehicles.

- Robert Bosch Automotive Steering GmbH: $ billion

- Nexteer Automotive: $3.7 billion

- ZF TRW Automotive Holdingsoration: $6.6 billion

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The Impact of Covid-19 and Russia-Ukraine War on Automotive Electric Power Steering Market 

The Russia-Ukraine War and Post Covid-19 Pandemic have significantly impacted the Automotive Electric Power Steering market. The ongoing geopolitical tensions have disrupted supply chains and increased raw material costs, leading to price hikes for electric power steering systems. Additionally, the global economic slowdown caused by the pandemic has dampened consumer demand for new vehicles, affecting the overall growth of the market.

Despite these challenges, the market is expected to experience moderate growth in the coming years as economies recover and demand for electric vehicles rises. Major benefactors of this growth are likely to be automotive manufacturers that have invested in developing electric power steering technology. Companies that can offer innovative and cost-effective solutions to meet increasing demand for fuel-efficient vehicles are expected to lead the market. Moreover, governments around the world are also likely to support the adoption of electric power steering systems as part of their efforts to reduce carbon emissions and promote sustainable transportation.

What is the Future Outlook of Automotive Electric Power Steering Market?

The present outlook of the Automotive Electric Power Steering market is promising, driven by the increasing demand for fuel-efficient vehicles and the growing trend towards electrification in the automotive industry. Additionally, advancements in technology, such as the integration of sensors and AI algorithms, are further driving market growth. In the future, the market is expected to witness a significant increase in adoption due to the benefits of improved fuel efficiency, enhanced driving experience, and reduced maintenance costs. The market is projected to experience steady growth as automotive manufacturers continue to innovate in the development of Electric Power Steering systems.

Market Segmentation 2024 - 2031

The worldwide Automotive Electric Power Steering market is categorized by Product Type: Column Assist EPS,Single-Pinion Assist EPS,Dual-Pinion Assist EPS,Rack Assist EPS and Product Application: Passenger Car,Commercial Vehicle.

In terms of Product Type, the Automotive Electric Power Steering market is segmented into:

• Column Assist EPS
• Single-Pinion Assist EPS
• Dual-Pinion Assist EPS
• Rack Assist EPS

In terms of Product Application, the Automotive Electric Power Steering market is segmented into:

• Passenger Car
• Commercial Vehicle

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What is the scope of the Automotive Electric Power Steering Market report?

• The scope of the Automotive Electric Power Steering market report is comprehensive and covers various aspects of the market. The report provides an in-depth analysis of the market size, growth, trends, challenges, and opportunities in the Automotive Electric Power Steering market. Here are some of the key highlights of the scope of the report:


• Market overview, including definitions, classifications, and applications of the Automotive Electric Power Steering market.


• Detailed analysis of market drivers, restraints, and opportunities in the Automotive Electric Power Steering market.


• Analysis of the competitive landscape, including key players and their strategies, partnerships, and collaborations.


• Regional analysis of the Automotive Electric Power Steering market, including market size, growth rate, and key players in each region.


• Market segmentation based on product type, application, and geography.

Frequently Asked Questions

• What is the market size, and what is the expected growth rate?


• What are the key drivers and challenges in the market?


• Who are the major players in the market, and what are their market shares?


• What are the major trends and opportunities in the market?


• What are the key customer segments and their buying behavior?

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