Electric Power Steering (EPS) Control Units Market Research Report, Its History and Forecast 2024 to 2031

Executive Summary

The Electric Power Steering (EPS) Control Units market research reports indicate that the market is experiencing significant growth due to the increasing demand for fuel-efficient vehicles and the rising adoption of electric power steering systems in modern vehicles. The market is expected to grow at a CAGR of % during the forecasted period.

One of the key trends in the Electric Power Steering (EPS) Control Units market is the growing preference for electronic power steering systems over traditional hydraulic systems. Electronic power steering systems offer improved fuel efficiency, better handling, and a smoother driving experience, driving their adoption among automakers.

In terms of geographical spread, North America (NA), Asia Pacific (APAC), Europe, the United States (USA), and China are key regions driving the growth of the Electric Power Steering (EPS) Control Units market. Each of these regions has a significant presence of leading automotive manufacturers who are actively incorporating EPS control units into their vehicles to meet consumer demands for advanced safety and convenience features.

In North America, the market is driven by the presence of key players in the automotive industry and the increasing focus on vehicle electrification. In Asia Pacific, the market growth is fueled by the growing automotive industry in countries like China and India. Europe is also a significant market for EPS control units due to the stringent regulations on vehicle emissions and the increasing adoption of electric vehicles, while the United States is witnessing a surge in demand for advanced automotive technologies.

Overall, the Electric Power Steering (EPS) Control Units market is poised for substantial growth in the coming years, driven by technological advancements, increasing consumer demand for fuel-efficient vehicles, and growing adoption of electric power steering systems in the automotive industry.

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Market Segmentation:

This Electric Power Steering (EPS) Control Units Market is further classified into Overview, Deployment, Application, and Region. 

In terms of Components, Electric Power Steering (EPS) Control Units Market is segmented into:

• Bosch
• JTEKT
• Nexteer
• ZF
• NSK
• Hitachi Astemo (Showa)
• Hyundai Mobis
• Thyssenkrupp
• Mando
• CAAS

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The Electric Power Steering (EPS) Control Units Market Analysis by types is segmented into:

• C-EPS
• P-EPS
• R-EPS
• DP-EPS

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The Electric Power Steering (EPS) Control Units Market Industry Research by Application is segmented into:

• Passenger Vehicle
• Commercial Vehicle

In terms of Region, the Electric Power Steering (EPS) Control Units Market Players available by Region are:

North America:

• United States


• Canada

Europe:

• Germany


• France


• U.K.


• Italy


• Russia

Asia-Pacific:

• China


• Japan


• South Korea


• India


• Australia


• China Taiwan


• Indonesia


• Thailand


• Malaysia

Latin America:

• Mexico


• Brazil


• Argentina Korea


• Colombia

Middle East & Africa:

• Turkey


• Saudi


• Arabia


• UAE


• Korea

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Key Drivers and Barriers in the Electric Power Steering (EPS) Control Units Market

Key drivers in the Electric Power Steering (EPS) Control Units market include the increasing demand for fuel-efficient vehicles, technological advancements in the automotive industry, and the growing focus on vehicle safety and driver assistance systems. However, barriers such as high initial costs, lack of infrastructure in emerging markets, and concerns about cybersecurity and data privacy may hinder market growth.

Challenges faced in the market include the integration of EPS control units with other vehicle systems, ensuring compatibility with different vehicle models, and the need for regular maintenance and software updates to ensure optimal performance and safety. Additionally, market competition and the pressure to continuously innovate and improve product offerings pose further challenges for companies operating in the EPS control units market.

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Competitive Landscape

Bosch is a leading player in the Electric Power Steering (EPS) Control Units market, offering a wide range of products and solutions. The company has a long history of innovation and excellence in the automotive industry. Bosch has achieved significant market growth over the years due to its focus on technology and quality. The company's market size is substantial, with a strong presence in both developed and emerging markets.

JTEKT is another key player in the EPS Control Units market, known for its high-quality products and cutting-edge technology. The company has a strong track record of growth and has established itself as a reliable partner for automotive manufacturers worldwide. JTEKT's market size is significant, with a global presence and a diverse customer base.

Nexteer is a prominent player in the EPS Control Units market, known for its advanced steering solutions and innovative products. The company has a successful history of growth and has expanded its market presence in recent years. Nexteer's market size is substantial, with a strong foothold in key regions around the world.

In terms of sales revenue, Bosch reported sales of over € billion in 2020, making it one of the largest players in the automotive industry. JTEKT reported sales of over ¥963.3 billion in the same year, indicating its strong position in the market. Nexteer reported sales of over $3.6 billion in 2020, showcasing its solid performance and market share. These companies continue to lead the EPS Control Units market with their innovative products and strong market presence.

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