Russia Automotive EPS Market, By Region, Competition, Forecast and Opportunities, 2020-2030F

The Russia Automotive EPS Market was valued at USD 5.5 Billion in 2024, and is expected to reach USD 9.5 Billion by 2030, rising at a CAGR of 9.60%. Russia’s automotive electric power steering (EPS) market is positioned for growth between 2026 and 2030 as several key drivers propel demand for more advanced steering solutions. As the automotive industry continues to evolve, electric power steering systems, which offer improved efficiency, comfort, and safety over traditional hydraulic systems, are becoming increasingly popular. Automakers are seeking EPS technologies that reduce fuel consumption and increase overall vehicle performance. With an increasing emphasis on energy efficiency and sustainability in the automotive sector, EPS is expected to become the standard for steering systems in the coming years. According to the Association of European Businesses (AEB), the Russian car market grew by 58% in January-September 2024 and by 33% in September 2024 year-on-year.

The market growth will also be propelled by the increasing adoption of electric vehicles (EVs) and hybrid cars in Russia. These types of vehicles require steering systems that are more energy-efficient and align with their green technologies. Electric power steering is well-suited to meet these requirements as it consumes less energy compared to traditional hydraulic systems. As consumers continue to prioritize safety and convenience in their vehicle purchases, the demand for advanced EPS technologies, which include features like automatic lane-keeping assist and adaptive steering, is expected to rise, shaping the future of the market.

However, several challenges remain in the path of EPS growth in Russia’s automotive market. The adoption of electric power steering systems faces challenges such as high manufacturing costs, limited awareness, and concerns regarding system reliability. Despite these barriers, the long-term market outlook for EPS is positive due to continuous technological advancements and the increasing adoption of eco-friendly vehicle solutions.

Market Drivers

Technological Advancements in EPS Systems

The continuous development of advanced EPS technologies in Russia is a major driver. Integrating features such as adaptive steering and enhanced control systems improves vehicle handling and driving precision. These innovations not only reduce energy consumption but also offer customizable steering experiences, fueling the demand for EPS in modern vehicles across Russia.

Shift Toward Electric and Hybrid Vehicles

Russia's automotive market is witnessing a rise in the adoption of electric and hybrid vehicles, driving the need for efficient, energy-saving steering systems. EPS systems are ideally suited for these vehicles, offering lighter and more energy-efficient alternatives compared to traditional hydraulic systems. This trend is expected to further expand the EPS market, particularly in environmentally conscious vehicle segments.

In 2024, Russian electric vehicle (EV) sales surged, reaching over 20,500 units, marking a 350% increase from the previous year. This growth was mainly fueled by Chinese brands, especially Zeekr, despite challenges such as limited charging infrastructure and minimal government support.

Key Market Challenges

High Initial Costs of EPS Systems

The significant upfront investment required for manufacturing and installing EPS systems poses a challenge in Russia, where price sensitivity in the automotive market is high. While EPS offers long-term savings, the higher initial costs can limit its adoption, especially in budget-conscious consumer segments.

Limited Consumer Awareness

In Russia, many consumers still lack awareness of the benefits of EPS compared to traditional hydraulic steering systems. Despite its superior efficiency and handling characteristics, the unfamiliarity with EPS may delay its widespread adoption among vehicle buyers, particularly in regions where traditional systems are still dominant.

Key Market Trends

Rise in Autonomous Vehicle Adoption

With the global automotive industry moving toward greater autonomy, Russia is following suit, incorporating EPS systems into vehicles with autonomous driving capabilities. These systems offer the precision and adaptability necessary for autonomous steering, contributing to the rising demand for EPS as part of connected and self-driving vehicles.

Focus on Lightweight Materials

To enhance the efficiency of EPS systems, Russian automakers are increasingly using lightweight materials in their designs. Reducing the overall vehicle weight improves fuel efficiency and performance, making EPS an attractive option for electric and hybrid vehicle segments.

Key Market Players

• JTEKT Corporation
• Nexteer Automotive Corporation
• NSK Ltd.
• Friedrichshafen AG
• Robert Bosch GmbH
• Mitsubishi Electric Corporation
• GKN PLC
• Denso Corporation
• Hyundai Mobis Co. Ltd.
• Thyssenkrupp AG

Report Scope:

In this report, the Russia Automotive EPS Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Russia Automotive EPS Market, By Type:

• Rack Assist Type
• Colum Assist Type
• Pinion Assist Type

Russia Automotive EPS Market, By Vehicle Type:

• Passenger Cars
• Commercial Vehicles

Russia Automotive EPS Market, By Demand Category:

• Original Equipment Manufacturer (OEM)
• Aftermarket

Russia Automotive EPS Market, By Region:

• Far Eastern
• Siberian
• Ural
• Northwest
• Volga
• Central
• South

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Russia Automotive EPS Market.

Available Customizations:

With the given market data, the publisher offers customizations according to the 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).

This product will be delivered within 1-3 business days.