Automotive Power Steering Motor Market Global Report 2026

The automotive power steering motor market size has grown strongly in recent years. It will grow from $19.98 billion in 2025 to $21.33 billion in 2026 at a compound annual growth rate (CAGR) of 6.8%. The growth during the historic period was driven by increasing adoption of electric power steering systems in passenger vehicles, rising demand for improved fuel efficiency compared to hydraulic steering systems, growing vehicle production and sales across emerging economies, increasing focus on enhanced driving comfort and steering control, and rising integration of electronic components in automotive steering systems.

The automotive power steering motor market size is expected to see strong growth in the next few years. It will grow to $27.3 billion in 2030 at a compound annual growth rate (CAGR) of 6.4%. The growth during the forecast period can be attributed to increasing adoption of electric and hybrid vehicles requiring advanced steering solutions, rising demand for autonomous driving technologies with precise steering control, growing development of high-efficiency brushless electric motors for automotive applications, increasing need for lightweight automotive components to improve vehicle performance, and growing deployment of advanced driver assistance systems requiring responsive steering systems. Key trends during the forecast period include increasing integration of advanced electric steering motors for improved vehicle handling and comfort, rising adoption of compact and lightweight steering motor designs for enhanced vehicle efficiency, growing development of high-performance steering motors with improved durability and reliability, increasing demand for energy-efficient steering assistance systems in modern vehicles, and rising focus on customized steering motor solutions for diverse vehicle platforms.

The rising adoption of electric and hybrid vehicles is expected to drive the growth of the automotive power steering motor market in the coming years. Electric and hybrid vehicles are vehicles that rely on electric motors either as the sole source of propulsion or in combination with internal combustion engines to enhance fuel efficiency and reduce emissions. The adoption of electric and hybrid vehicles is growing due to increasing environmental awareness, as consumers and governments are seeking cleaner transportation solutions that minimize greenhouse gas emissions, reduce air pollution, and promote sustainability initiatives. Automotive power steering motors support electric power steering (EPS) systems by replacing conventional hydraulic mechanisms with electric motors to provide accurate and energy-efficient steering assistance, improving vehicle efficiency, reducing weight, enhancing driving comfort and handling, and enabling advanced driver-assistance features in electric and hybrid vehicles. For instance, in January 2024, according to the U.S. Department of Energy, a US-based government agency, plug-in electric vehicles represented 9.8% of all light-duty vehicle sales in December 2023, compared to 7.8% in December 2022. During 2023, plug-in vehicles accounted for at least 8% of monthly vehicle sales consistently, while their share in 2022 ranged from 5.5% to 7.8%. Therefore, the rising adoption of electric and hybrid vehicles is driving the growth of the automotive power steering motor market.

Major companies operating in the automotive power steering motor market are concentrating on the development of advanced solutions, including high-torque column EPS, to improve steering performance, increase efficiency, and support heavier electric vehicles while maintaining compact and cost-effective designs. High-torque column EPS is an advanced electric power steering technology in which an electric motor positioned on the steering column delivers high steering assist torque to reduce driver effort, improving steering comfort, vehicle control, and energy efficiency, particularly in larger and heavier vehicles by replacing conventional hydraulic steering systems. For instance, in April 2025, Nexteer Automotive, a US-based motion control technology company, launched its High-Output Column-Assist Electric Power Steering (HO CEPS), an advanced EPS solution developed to expand column-assist capabilities into larger and heavier vehicle segments beyond traditional applications. The system provides steering assist capacity of up to approximately 110 Nm, enabling improved handling performance for heavier electric vehicles without requiring more complex rack-based architectures. It incorporates modular EPS components and optimized electronic control systems that enhance scalability, reduce development timelines, and enable flexible integration across vehicle platforms. The solution also enhances energy efficiency, packaging flexibility, and compatibility with automated driving functions such as lane-keeping assist and stability control, making it suitable for next-generation electrified and software-defined vehicle platforms.

In September 2024, Rane Holdings Limited, an India-based automotive components holding company, completed the acquisition of the remaining 51% stake in Rane NSK Steering Systems Private Limited for $188 million (INR 15.8 billion). Through this acquisition, Rane Holdings aimed to obtain complete ownership of Rane NSK Steering Systems, strengthen its presence in steering and mobility solutions, and streamline its corporate structure by transforming the former joint venture into a wholly owned subsidiary. Rane NSK Steering Systems Private Limited is an India-based manufacturer of electric power steering systems, manual steering columns, intermediate shafts, and steering-related components for the automotive industry.

Major companies operating in the automotive power steering motor market are JTEKT Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG, Nexteer Automotive Group Ltd., Hitachi Astemo Ltd., DENSO Corporation, Hyundai Mobis Co. Ltd., BorgWarner Inc., Magna International Inc., NSK Ltd., Mitsubishi Electric Corporation, Nidec Corporation, thyssenkrupp AG, Schaeffler AG, Valeo SE, HL Mando Corporation, Johnson Electric Holdings Limited, MAHLE GmbH, China Automotive Systems Inc., Mitsuba Corporation, MinebeaMitsumi Inc., Knorr-Bremse AG.

Asia-Pacific was the dominating region in the automotive power steering motor market in 2025. Asia-Pacific is expected to be the rapidly growing region in the forecast period. The regions covered in the automotive power steering motor market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the automotive power steering motor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

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