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Automotive Electric Power Steering Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F- Product Image
Automotive Electric Power Steering Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F- Product Image
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Automotive Electric Power Steering Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F

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    Report

  • 180 Pages
  • November 2025
  • Region: Global
  • TechSci Research
  • ID: 5941724
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Column Type is the fastest growing segment, Asia-Pacific is the largest regional market

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The Global Automotive Electric Power Steering Market, valued at USD 25.60 Billion in 2024, is projected to experience a CAGR of 7.29% to reach USD 39.05 Billion by 2030. Electric Power Steering (EPS) systems are electromechanical assemblies replacing traditional hydraulic power steering by using an electric motor to assist driver input, enhancing fuel efficiency and steering precision. Key market drivers include stringent global emissions regulations for improved vehicle fuel economy, increasing demand for advanced driver assistance systems requiring precise electronic control, and the rapid electrification of vehicles.

Key Market Drivers

The increasing production and adoption of electric and hybrid vehicles represents a substantial catalyst for the global automotive electric power steering market. Electric power steering systems are intrinsically more compatible with electric and hybrid powertrains compared to traditional hydraulic systems, as they eliminate the need for an engine-driven hydraulic pump, thereby reducing energy consumption and enabling more efficient energy regeneration. This inherent efficiency directly contributes to extended range for electric vehicles and improved fuel economy for hybrids, aligning with overarching industry goals for electrification.

Key Market Challenges

A significant challenge impeding the expansion of the Global Automotive Electric Power Steering market is the substantial initial investment required for the research, development, and integration of these complex electronic systems into vehicle architectures. This considerable financial outlay directly hampers market growth by imposing a heavy burden on automotive manufacturers and component suppliers. The extensive capital expenditure needed for advanced R&D, sophisticated testing protocols, and the retooling of production lines for these intricate electronic systems often restricts the capacity for rapid market penetration, particularly for smaller enterprises. The automotive industry consistently directs significant resources towards innovation.

Key Market Trends

Steer-by-Wire Technology Evolution fundamentally shifts to fully electronic steering, offering enhanced design flexibility and improved vehicle dynamics. These are crucial for advanced driver assistance and autonomous driving. According to the German Association of the Automotive Industry (VDA), German automotive companies invested €58.4 billion in research and development worldwide in 2023, reflecting commitment to innovation, including by-wire. Volvo Cars, in August 2024, highlighted redundancy and centralized electrical/electronic architecture for its steer-by-wire systems, enhancing functionality and steering maneuvers. This evolution, replacing physical linkages, facilitates features like variable steering ratios and active damping, aiding performance and safety.

Key Market Players Profiled:

  • JTEKT
  • NSK
  • Bosch
  • ZF
  • Nexteer
  • Mitsubishi Electric
  • Thyssenkrupp
  • Mando
  • Hyundai Mobis
  • Showa

Report Scope:

In this report, the Global Automotive Electric Power Steering Market has been segmented into the following categories:

By Type:

  • Column Type
  • Pinion Type
  • Dual Pinion Type

By Component Type:

  • Steering Rack/Column
  • Sensor
  • Steering Motor
  • Other

By Vehicle Type:

  • Passenger Cars
  • Commercial Vehicles

By Region:

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Automotive Electric Power Steering Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report.

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

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Table of Contents

1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
4. Voice of Customer
5. Global Automotive Electric Power Steering Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type (Column Type, Pinion Type, Dual Pinion Type)
5.2.2. By Component Type (Steering Rack/Column, Sensor, Steering Motor, Other)
5.2.3. By Vehicle Type (Passenger Cars, Commercial Vehicles)
5.2.4. By Region
5.2.5. By Company (2024)
5.3. Market Map
6. North America Automotive Electric Power Steering Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By Component Type
6.2.3. By Vehicle Type
6.2.4. By Country
6.3. North America: Country Analysis
6.3.1. United States Automotive Electric Power Steering Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Type
6.3.1.2.2. By Component Type
6.3.1.2.3. By Vehicle Type
6.3.2. Canada Automotive Electric Power Steering Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Type
6.3.2.2.2. By Component Type
6.3.2.2.3. By Vehicle Type
6.3.3. Mexico Automotive Electric Power Steering Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Type
6.3.3.2.2. By Component Type
6.3.3.2.3. By Vehicle Type
7. Europe Automotive Electric Power Steering Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Component Type
7.2.3. By Vehicle Type
7.2.4. By Country
7.3. Europe: Country Analysis
7.3.1. Germany Automotive Electric Power Steering Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Type
7.3.1.2.2. By Component Type
7.3.1.2.3. By Vehicle Type
7.3.2. France Automotive Electric Power Steering Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Type
7.3.2.2.2. By Component Type
7.3.2.2.3. By Vehicle Type
7.3.3. United Kingdom Automotive Electric Power Steering Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Type
7.3.3.2.2. By Component Type
7.3.3.2.3. By Vehicle Type
7.3.4. Italy Automotive Electric Power Steering Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Type
7.3.4.2.2. By Component Type
7.3.4.2.3. By Vehicle Type
7.3.5. Spain Automotive Electric Power Steering Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Type
7.3.5.2.2. By Component Type
7.3.5.2.3. By Vehicle Type
8. Asia-Pacific Automotive Electric Power Steering Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By Component Type
8.2.3. By Vehicle Type
8.2.4. By Country
8.3. Asia-Pacific: Country Analysis
8.3.1. China Automotive Electric Power Steering Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Type
8.3.1.2.2. By Component Type
8.3.1.2.3. By Vehicle Type
8.3.2. India Automotive Electric Power Steering Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Type
8.3.2.2.2. By Component Type
8.3.2.2.3. By Vehicle Type
8.3.3. Japan Automotive Electric Power Steering Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Type
8.3.3.2.2. By Component Type
8.3.3.2.3. By Vehicle Type
8.3.4. South Korea Automotive Electric Power Steering Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Type
8.3.4.2.2. By Component Type
8.3.4.2.3. By Vehicle Type
8.3.5. Australia Automotive Electric Power Steering Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Type
8.3.5.2.2. By Component Type
8.3.5.2.3. By Vehicle Type
9. Middle East & Africa Automotive Electric Power Steering Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By Component Type
9.2.3. By Vehicle Type
9.2.4. By Country
9.3. Middle East & Africa: Country Analysis
9.3.1. Saudi Arabia Automotive Electric Power Steering Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Type
9.3.1.2.2. By Component Type
9.3.1.2.3. By Vehicle Type
9.3.2. UAE Automotive Electric Power Steering Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Type
9.3.2.2.2. By Component Type
9.3.2.2.3. By Vehicle Type
9.3.3. South Africa Automotive Electric Power Steering Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Type
9.3.3.2.2. By Component Type
9.3.3.2.3. By Vehicle Type
10. South America Automotive Electric Power Steering Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Type
10.2.2. By Component Type
10.2.3. By Vehicle Type
10.2.4. By Country
10.3. South America: Country Analysis
10.3.1. Brazil Automotive Electric Power Steering Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Type
10.3.1.2.2. By Component Type
10.3.1.2.3. By Vehicle Type
10.3.2. Colombia Automotive Electric Power Steering Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Type
10.3.2.2.2. By Component Type
10.3.2.2.3. By Vehicle Type
10.3.3. Argentina Automotive Electric Power Steering Market Outlook
10.3.3.1. Market Size & Forecast
10.3.3.1.1. By Value
10.3.3.2. Market Share & Forecast
10.3.3.2.1. By Type
10.3.3.2.2. By Component Type
10.3.3.2.3. By Vehicle Type
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments
13. Global Automotive Electric Power Steering Market: SWOT Analysis
14. Porter's Five Forces Analysis
14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products
15. Competitive Landscape
15.1. JTEKT
15.1.1. Business Overview
15.1.2. Products & Services
15.1.3. Recent Developments
15.1.4. Key Personnel
15.1.5. SWOT Analysis
15.2. NSK
15.3. Bosch
15.4. ZF
15.5. Nexteer
15.6. Mitsubishi Electric
15.7. Thyssenkrupp
15.8. Mando
15.9. Hyundai Mobis
15.10. Showa
16. Strategic Recommendations17. About the Publisher & Disclaimer

Companies Mentioned

The companies profiled in this Automotive Electric Power Steering market report include:
  • JTEKT
  • NSK
  • Bosch
  • ZF
  • Nexteer
  • Mitsubishi Electric
  • Thyssenkrupp
  • Mando
  • Hyundai Mobis
  • Showa

Table Information

Report AttributeDetails
No. of Pages180
PublishedNovember 2025
Forecast Period2024 - 2030
Estimated Market Value ( USD ) in 2024 $ 25.6 Billion
Forecasted Market Value ( USD ) by 2030 $ 39.05 Billion
Compound Annual Growth Rate7.2%
Regions CoveredGlobal
No. of Companies Mentioned11

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