India Electric Power Steering Market by Type (C-EPS, P-EPS and R-EPS), by Component (Steering Column, Steering Wheel, Sensors, Electronic Control Unit, Electric Motor and Bearings), by Vehicle Type, by Mechanism, by Company and by Region, Forecast & Opportunities, 2025

The Indian Electric Power Steering Market is projected to grow at a robust CAGR over the next five years. The major factors contributing to the growth of the market include increasing vehicle production, growing vehicle sales and stringent government regulations in the country. Furthermore, measures taken by the automakers to reduce the weight and complexity, is positively influencing the electric power steering market of India.

The Indian Electric Power Steering Market is further segmented based on steering type, component type, vehicle type and mechanism type. Based on type, the market is segmented into C-EPS, P-EPS and R-EPS. Rack EPS is projected to be the fastest growing segment of the market due to increasing installation rate of electric power steering in commercial vehicles since R-EPS is mostly used in heavy commercial vehicles. Moreover, vehicle emission regulations in India will further drive the market growth in the country.

The major player operating in the Indian Electric Power Steering Market are Denso Corporation, Mando Corporation, Robert Bosch GMBH, Showa Corporation, JTEKT Corporation, Hyundai Mobis, NSK Ltd, Mitsubishi Corporation, Sona Koyo Steering System, Nexteer. Companies operating in the market are using inorganic strategies such as partnership, mergers & collaboration to increase their share in the market.

Years considered for this report:

• Historical Years: 2015-2018
• Base Year: 2019
• Estimated Year: 2020
• Forecast Period: 2021–2025

Objective of the Study:

• To analyse and forecast the market size of the Indian Electric Power Steering Market, in terms of value and volume.
• To classify and forecast the Indian Electric Power Steering Market based on type, vehicle type, component, mechanism and regional distribution.
• To identify drivers and challenges for the Indian Electric Power Steering Market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Indian Electric Power Steering Market.
• To conduct the pricing analysis for the Indian Electric Power Steering Market.
• To identify and analyse the profile of leading players involved in the manufacturing of the Indian Electric Power Steering Market.

The author performed both primary as well as exhaustive secondary research for this study. Initially, the author sourced a list of manufacturers across India. Subsequently, researchers conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the author could include the manufacturers which could not be identified due to the limitations of secondary research. The author analysed the service offerings, distribution channels and presence of all major collaboration manufacturers across India.

The author calculated the market size of the Indian Electric Power Steering Market by using a bottom-up approach, where the data for various end-user industries and its application across various product types were recorded and forecast for the future years. Researchers sourced these values from the industry experts and company representatives and externally validated through analysing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also used.

Key Target Audience:

• Electric Power Steering manufacturers
• Automobile manufacturers
• Raw material suppliers
• Electric power steering design companies
• Distributors and traders
• Research organizations and consulting companies.
• Research Institutes
• Industry associations
• Market research and consulting firm.

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as collaboration service providers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.

Report Scope:
In this report, the Indian Electric Power Steering Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

India Electric Power Steering Market, By Type:

• C-EPS
• P-EPS
• R-EPS

India Electric Power Steering Market, By Component:

• Steering Column
• Steering Wheel
• Sensors
• Electronic Control Unit
• Electric Motor
• Bearings Wheat

India Electric Power Steering Market, By Vehicle Type:

• Passenger Car
• Medium & Heavy Commercial Vehicles
• Light Commercial Vehicles
• Off-the-Road Vehicles

India Electric Power Steering Market, By Mechanism:

• Collapsible EPS
• Rigid EPS

India Electric Power Steering Market, By Region:

• North
• South
• East
• West

Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Indian Electric Power Steering Market.

Available Customizations:
With the given market data, the author offers customizations according the client’s specific needs.