Market Summary
The Electric Power Steering (EPS) Market is growing due to innovation, evolving demand, and industry shifts. This report offers insights into market size, value, trends, competitive analysis, and key company strategies. It supports strategic planning with data-driven forecasts and regional insights, helping stakeholders identify opportunities, assess performance, and navigate the changing landscape effectively.
Key Report Highlights:
- Market size and projections
- Recent strategic moves by companies
- Primary stakeholders
- Import and export trends
- Competitive landscape assessment
- Emerging opportunities
- Market trends and indicators
View Full Market Research Report – https://www.marknteladvisors.com/research-library/electric-power-steering-market.html
Market size and projections
The Global Electric Power Steering (EPS) Market size was valued at around USD 26.96 billion in 2024 and is projected to reach USD 38.78 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 6.2% during the forecast period, i.e., 2025-30.
Market Key Driver –
The demand for hybrid and electric vehicles has surged significantly with government support. The government is implementing numerous policies and schemes to promote the growth of electric vehicles worldwide. This is due to the low emissions produced by electric vehicles. The electric power steering is compact and lightweight, and is fuel-efficient as it reduces emissions over the traditional. The electric vehicle dynamics work on the electronic motors, thus raising the utility of electric power steering. Furthermore, the electric power steering is equipped with sensors and motors that conveniently reduce the load exerted by the driver while driving. Hence, providing an expensive premium experience to the driver.
Competitive Landscape:
The report profiles key players in the Electric Power Steering (EPS) market, including:
- Bosch
- Denso Corporation
- Hyundai Mobis
- JTEKT Corporation
- HL Mando
- Hitachi Astemo, LTD.
- Mitsubishi Electric Corporation
- Nexteer
- NSK Corporate
- Sensata Technologies, Inc.
- ZF Friedrichshafen AG
- Zhuzhou Elite Electro-Mechanical Co. Ltd.
- GKN Automotive Limited
- Thyssenkrupp Presta AG
These companies are adopting strategies such as mergers, acquisitions, and partnerships to strengthen their market position.
Download Free Sample PDF – https://www.marknteladvisors.com/query/request-sample/electric-power-steering-market.html
Electric Power Steering (EPS) Market Segmentation Analysis:
The market is segmented into the following categories:
By Components
- Steering Column
- Steering Gear
- Sensor
- Mechanical Pinion & Rack
- Electronic Control Unit (ECU)
- Electric Motor
- Bearing
- Others
By Type
- Column Assist Type (C-EPS)
- Pinion Assist Type (P-EPS)
- Rack Assist Type (R-EPS)
By Mechanism
- Collapsible
- Rigid
By Fuel
- Petrol
- Diesel
- Natural Gas
- Electric
- Others
By Vehicle Type
- Passenger Cars & SUVs
- Commercial Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Passenger Cars & SUVs hold the largest market share of approximately 75%. This is due to fuel efficiency, the dynamics of the vehicles, and the terrain of vehicle mobility.
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Regionally, the market is growing in multiple regions, however, Asia-Pacific is the fastest-growing region with approximately 43% market share.
📊 Looking for a Customized Market Research Report? Visit – https://www.marknteladvisors.com/query/request-customization/electric-power-steering-market.html
(Need global, regional or country-specific data? We can tailor research to your exact requirements)
Key Questions Covered in the Report:
- What is the current size and value of the Electric Power Steering (EPS) market?
- How is the Electric Power Steering (EPS) market expected to grow by 2030?
- What key trends are shaping the future of the Electric Power Steering (EPS) market?
- What factors are driving demand in the Electric Power Steering (EPS) industry?
- Which regions show the strongest growth in the Electric Power Steering (EPS) market?
- Who are the major players in the Electric Power Steering (EPS) market and their strategies?
- What segments are leading revenue generation in the Electric Power Steering (EPS) market?
- How are regulations influencing the Electric Power Steering (EPS) market outlook?
- What are the major challenges facing the Electric Power Steering (EPS) market?
- What new technologies are emerging in the Electric Power Steering (EPS) industry?
- How is consumer behavior evolving in the Electric Power Steering (EPS) market space?
- What opportunities exist for new entrants in the Electric Power Steering (EPS) market?
- How does pricing vary across regions in the Electric Power Steering (EPS) market?
- What investment trends are impacting the Electric Power Steering (EPS) market growth?
- What is the forecasted CAGR for the Electric Power Steering (EPS) market through 2030?
Others Report –
Who We Are:
MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative and quantitative research company, strive to deliver data to a substantial and varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
Get in Touch Today:
Office No.109, H-159, Sector 63, Noida, Uttar Pradesh-201301, India
Contact No: +91 8719999009
Email: sales@marknteladvisors.com
