Product Code: A07236
The Automotive Electric Power Steering Market is likely to experience a significant growth rate of 5.8% from 2023-2032 owing to the stringent fuel efficiency & emission standards, the surge in demand for vehicle safety and enhanced vehicle handling, and the rise in demand for Advanced Driver Assistance Systems (ADAS) - Allied Market Research

EPS (Electric Power Steering System), utilized in ICE vehicles, employs an electric motor to aid the driver in steering by applying torque to either the steering column or the steering rack. This assistance reduces the effort required to turn the wheels. The adoption of an electric power steering system is gaining traction owing to the positive impact on fuel efficiency. By eliminating the need for a hydraulic pump driven by the engine, EPS decreases the load on the engine, leading to enhanced fuel economy. In addition, EPS systems in modern ICE vehicles often incorporate additional features such as variable assistance, speed-sensitive assistance, and advanced driver assistance system (ADAS) integration.
EPS (Electric Power Steering) plays a crucial role in electric vehicles (EVs) by providing steering assistance to drivers. The main purpose of EPS in electric vehicles is to help drivers steer by applying torque to the steering column or rack. This assistance reduces the effort required to turn the wheels, resulting in smoother and more responsive steering. Innovative advancements in EVs include the exploration of drive-by-wire systems, which eliminate the physical-mechanical connection between the steering wheel and the wheels. Instead, EPS works with other electronic systems to convert the driver's input into steering commands. This technology offers increased design flexibility and paves the way for advanced driver assistance features. Such factors are expected to drive the growth of the segment.
By component, the automotive electric power steering market is segmented into electric control unit, electric motor, rack and pinion, steering column, and others. The Electric Control Unit (ECU) is a crucial component within an Electric Power Steering (EPS) system. It acts as the central controller, responsible for monitoring and regulating the system's operation. The ECU receives inputs from various sensors and analyzes data such as steering input from the driver and vehicle speed. Using this information, it calculates the optimal amount of power assistance required for the steering system.
- Constantly monitoring the driver's steering input and relevant vehicle parameters, the ECU ensures that the appropriate level of power assistance is provided. A steering control module within the EPS system is a crucial component in electric power steering (EPS) systems that help manage the steering operation in vehicles. Manufacturers offer electronic control units to meet the increased demand for advanced steering control systems in the automotive industry. For instance, in July 2019, Hella, one of the leading automotive technology companies announced the expansion of its portfolio of steering control modules. Such developments to developing reliable and efficient steering control modules contribute to the advancement of electric power steering technology.
- The electric motor is a critical component in an Electric Power Steering (EPS) system as it provides power assistance to the steering mechanism. This motor is an electrically powered device that aids the driver in turning the steering wheel, making it easier to navigate the vehicle. It is usually integrated into the steering system, either positioned on the steering column (Column EPS) or in proximity to the steering rack (Rack EPS). The exact placement may vary depending on the specific design and setup of the EPS system.
- Numerous manufacturers provide advanced electric motors for electric power steering systems to enable the smooth and precise operation of EPS systems, enhancing the overall driving experience for vehicle occupants. For instance, MAHLE offers motors designed for electromechanical power steering systems (EPS). These motors are responsible for providing the necessary power assistance to the steering mechanism in vehicles. They exhibit extremely low cogging torque, which refers to the resistance felt when rotating the motor's rotor in small increments. This low-cogging torque contributes to smoother and more precise steering movements. Moreover, Nidec Corporation, a manufacturer and distributor of electric motors provides compact and high-precision power steering (EPS) motors. In addition, there is a rise in the focus on the development of compact and lightweight electric motors for Electric Power Steering (EPS) systems. This emphasis aims to facilitate seamless integration into the vehicle's steering system, minimize space requirements, and contribute to overall weight reduction. Therefore, such factors are expected to drive the growth of the segment in the market.
- The rack and pinion system offers accurate and responsive steering control that allows for precise handling of the vehicle. The rack and pinion gear translates the steering inputs of the driver into the smooth and direct motion of the wheels. Numerous manufacturers design rack and pinion systems that provide precise steering control, improved handling, and enhanced driver experience. For instance, Nexteer, a global motion control technology company offers Premium EPS Rack & Pinion Gears, high-quality components used in EPS systems. The rack and pinion gears are manufactured with advanced technology and undergo rigorous testing to ensure durability and performance.
- The automotive electric power steering market is segmented on the basis of type, vehicle type, propulsion type, component, and region. Based on type, it is segmented into column electric power steering, rack electric power steering, and pinion electric power steering. On the basis of vehicle type, it is classified into passenger cars and commercial vehicles. By propulsion type, it is categorized into ICE and electric. By component, it is categorized into electric control unit, electric motor, rack & pinion, steering column, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Some major companies operating in the market include JTEKT Corporation., HL Mando Corp., Nexteer Automotive, Robert Bosch GmbH, NSK Ltd., ZF Friedrichshafen AG, Hitachi Astemo, Ltd., ThyssenKrupp AG, Zhejiang Shibao Co., Ltd., and BBB Industries
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the automotive electric power steering market analysis from 2022 to 2032 to identify the prevailing automotive electric power steering market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the automotive electric power steering market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global automotive electric power steering market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Column Electric Power Steering
- Rack Electric Power Steering
- Pinion Electric Power Steering
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
By Propulsion Type
By Component
- Electric Control Unit
- Electric Motor
- Rack and Pinion
- Steering Column
- Others
By Region
- North America
- Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players:
- BBB Industries
- Hitachi, Ltd.
- HL Mando Corp.
- JTEKT Corporation
- Nexteer Automotive
- NSK Ltd.
- Robert Bosch GmbH
- ThyssenKrupp AG
- ZF Friedrichshafen AG
- Zhejiang Shibao Co., Ltd.
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research Methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.3.1. Low bargaining power of suppliers
- 3.3.2. Low threat of new entrants
- 3.3.3. Low threat of substitutes
- 3.3.4. Low intensity of rivalry
- 3.3.5. Low bargaining power of buyers
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.1.1. Stringent fuel efficiency and emission standards
- 3.4.1.2. Surge in demand for vehicle safety and enhanced vehicle handling
- 3.4.1.3. Rise in demand for Advanced Driver Assistance Systems (ADAS)
- 3.4.2. Restraints
- 3.4.2.1. High initial investment costs
- 3.4.2.2. Technical challenges and complexity
- 3.4.3. Opportunities
- 3.4.3.1. Development of autonomous driving technology
- 3.4.3.2. Rise in the development of compact and cost-effective motor control units for EPS
- 3.5. COVID-19 Impact Analysis on the market
CHAPTER 4: AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY TYPE
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Column Electric Power Steering
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Rack Electric Power Steering
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- 4.4. Pinion Electric Power Steering
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
CHAPTER 5: AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Passenger Cars
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Commercial Vehicles
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
CHAPTER 6: AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PROPULSION TYPE
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. ICE
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.3. Electric
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
CHAPTER 7: AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT
- 7.1. Overview
- 7.1.1. Market size and forecast
- 7.2. Electric Control Unit
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by region
- 7.2.3. Market share analysis by country
- 7.3. Electric Motor
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by region
- 7.3.3. Market share analysis by country
- 7.4. Rack and Pinion
- 7.4.1. Key market trends, growth factors and opportunities
- 7.4.2. Market size and forecast, by region
- 7.4.3. Market share analysis by country
- 7.5. Steering Column
- 7.5.1. Key market trends, growth factors and opportunities
- 7.5.2. Market size and forecast, by region
- 7.5.3. Market share analysis by country
- 7.6. Others
- 7.6.1. Key market trends, growth factors and opportunities
- 7.6.2. Market size and forecast, by region
- 7.6.3. Market share analysis by country
CHAPTER 8: AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY REGION
- 8.1. Overview
- 8.1.1. Market size and forecast By Region
- 8.2. North America
- 8.2.1. Key trends and opportunities
- 8.2.2. Market size and forecast, by Type
- 8.2.3. Market size and forecast, by Vehicle Type
- 8.2.4. Market size and forecast, by Propulsion Type
- 8.2.5. Market size and forecast, by Component
- 8.2.6. Market size and forecast, by country
- 8.2.6.1. U.S.
- 8.2.6.1.1. Key market trends, growth factors and opportunities
- 8.2.6.1.2. Market size and forecast, by Type
- 8.2.6.1.3. Market size and forecast, by Vehicle Type
- 8.2.6.1.4. Market size and forecast, by Propulsion Type
- 8.2.6.1.5. Market size and forecast, by Component
- 8.2.6.2. Canada
- 8.2.6.2.1. Key market trends, growth factors and opportunities
- 8.2.6.2.2. Market size and forecast, by Type
- 8.2.6.2.3. Market size and forecast, by Vehicle Type
- 8.2.6.2.4. Market size and forecast, by Propulsion Type
- 8.2.6.2.5. Market size and forecast, by Component
- 8.2.6.3. Mexico
- 8.2.6.3.1. Key market trends, growth factors and opportunities
- 8.2.6.3.2. Market size and forecast, by Type
- 8.2.6.3.3. Market size and forecast, by Vehicle Type
- 8.2.6.3.4. Market size and forecast, by Propulsion Type
- 8.2.6.3.5. Market size and forecast, by Component
- 8.3. Europe
- 8.3.1. Key trends and opportunities
- 8.3.2. Market size and forecast, by Type
- 8.3.3. Market size and forecast, by Vehicle Type
- 8.3.4. Market size and forecast, by Propulsion Type
- 8.3.5. Market size and forecast, by Component
- 8.3.6. Market size and forecast, by country
- 8.3.6.1. UK
- 8.3.6.1.1. Key market trends, growth factors and opportunities
- 8.3.6.1.2. Market size and forecast, by Type
- 8.3.6.1.3. Market size and forecast, by Vehicle Type
- 8.3.6.1.4. Market size and forecast, by Propulsion Type
- 8.3.6.1.5. Market size and forecast, by Component
- 8.3.6.2. Germany
- 8.3.6.2.1. Key market trends, growth factors and opportunities
- 8.3.6.2.2. Market size and forecast, by Type
- 8.3.6.2.3. Market size and forecast, by Vehicle Type
- 8.3.6.2.4. Market size and forecast, by Propulsion Type
- 8.3.6.2.5. Market size and forecast, by Component
- 8.3.6.3. France
- 8.3.6.3.1. Key market trends, growth factors and opportunities
- 8.3.6.3.2. Market size and forecast, by Type
- 8.3.6.3.3. Market size and forecast, by Vehicle Type
- 8.3.6.3.4. Market size and forecast, by Propulsion Type
- 8.3.6.3.5. Market size and forecast, by Component
- 8.3.6.4. Spain
- 8.3.6.4.1. Key market trends, growth factors and opportunities
- 8.3.6.4.2. Market size and forecast, by Type
- 8.3.6.4.3. Market size and forecast, by Vehicle Type
- 8.3.6.4.4. Market size and forecast, by Propulsion Type
- 8.3.6.4.5. Market size and forecast, by Component
- 8.3.6.5. Rest of Europe
- 8.3.6.5.1. Key market trends, growth factors and opportunities
- 8.3.6.5.2. Market size and forecast, by Type
- 8.3.6.5.3. Market size and forecast, by Vehicle Type
- 8.3.6.5.4. Market size and forecast, by Propulsion Type
- 8.3.6.5.5. Market size and forecast, by Component
- 8.4. Asia-Pacific
- 8.4.1. Key trends and opportunities
- 8.4.2. Market size and forecast, by Type
- 8.4.3. Market size and forecast, by Vehicle Type
- 8.4.4. Market size and forecast, by Propulsion Type
- 8.4.5. Market size and forecast, by Component
- 8.4.6. Market size and forecast, by country
- 8.4.6.1. China
- 8.4.6.1.1. Key market trends, growth factors and opportunities
- 8.4.6.1.2. Market size and forecast, by Type
- 8.4.6.1.3. Market size and forecast, by Vehicle Type
- 8.4.6.1.4. Market size and forecast, by Propulsion Type
- 8.4.6.1.5. Market size and forecast, by Component
- 8.4.6.2. Japan
- 8.4.6.2.1. Key market trends, growth factors and opportunities
- 8.4.6.2.2. Market size and forecast, by Type
- 8.4.6.2.3. Market size and forecast, by Vehicle Type
- 8.4.6.2.4. Market size and forecast, by Propulsion Type
- 8.4.6.2.5. Market size and forecast, by Component
- 8.4.6.3. India
- 8.4.6.3.1. Key market trends, growth factors and opportunities
- 8.4.6.3.2. Market size and forecast, by Type
- 8.4.6.3.3. Market size and forecast, by Vehicle Type
- 8.4.6.3.4. Market size and forecast, by Propulsion Type
- 8.4.6.3.5. Market size and forecast, by Component
- 8.4.6.4. South Korea
- 8.4.6.4.1. Key market trends, growth factors and opportunities
- 8.4.6.4.2. Market size and forecast, by Type
- 8.4.6.4.3. Market size and forecast, by Vehicle Type
- 8.4.6.4.4. Market size and forecast, by Propulsion Type
- 8.4.6.4.5. Market size and forecast, by Component
- 8.4.6.5. Rest of Asia-Pacific
- 8.4.6.5.1. Key market trends, growth factors and opportunities
- 8.4.6.5.2. Market size and forecast, by Type
- 8.4.6.5.3. Market size and forecast, by Vehicle Type
- 8.4.6.5.4. Market size and forecast, by Propulsion Type
- 8.4.6.5.5. Market size and forecast, by Component
- 8.5. LAMEA
- 8.5.1. Key trends and opportunities
- 8.5.2. Market size and forecast, by Type
- 8.5.3. Market size and forecast, by Vehicle Type
- 8.5.4. Market size and forecast, by Propulsion Type
- 8.5.5. Market size and forecast, by Component
- 8.5.6. Market size and forecast, by country
- 8.5.6.1. Latin America
- 8.5.6.1.1. Key market trends, growth factors and opportunities
- 8.5.6.1.2. Market size and forecast, by Type
- 8.5.6.1.3. Market size and forecast, by Vehicle Type
- 8.5.6.1.4. Market size and forecast, by Propulsion Type
- 8.5.6.1.5. Market size and forecast, by Component
- 8.5.6.2. Middle East
- 8.5.6.2.1. Key market trends, growth factors and opportunities
- 8.5.6.2.2. Market size and forecast, by Type
- 8.5.6.2.3. Market size and forecast, by Vehicle Type
- 8.5.6.2.4. Market size and forecast, by Propulsion Type
- 8.5.6.2.5. Market size and forecast, by Component
- 8.5.6.3. Africa
- 8.5.6.3.1. Key market trends, growth factors and opportunities
- 8.5.6.3.2. Market size and forecast, by Type
- 8.5.6.3.3. Market size and forecast, by Vehicle Type
- 8.5.6.3.4. Market size and forecast, by Propulsion Type
- 8.5.6.3.5. Market size and forecast, by Component
CHAPTER 9: COMPETITIVE LANDSCAPE
- 9.1. Introduction
- 9.2. Top winning strategies
- 9.3. Product Mapping of Top 10 Player
- 9.4. Competitive Dashboard
- 9.5. Competitive Heatmap
- 9.6. Top player positioning, 2022
CHAPTER 10: COMPANY PROFILES
- 10.1. JTEKT Corporation
- 10.1.1. Company overview
- 10.1.2. Key Executives
- 10.1.3. Company snapshot
- 10.1.4. Operating business segments
- 10.1.5. Product portfolio
- 10.1.6. Business performance
- 10.2. HL Mando Corp.
- 10.2.1. Company overview
- 10.2.2. Key Executives
- 10.2.3. Company snapshot
- 10.2.4. Operating business segments
- 10.2.5. Product portfolio
- 10.2.6. Business performance
- 10.2.7. Key strategic moves and developments
- 10.3. Nexteer Automotive
- 10.3.1. Company overview
- 10.3.2. Key Executives
- 10.3.3. Company snapshot
- 10.3.4. Operating business segments
- 10.3.5. Product portfolio
- 10.3.6. Business performance
- 10.3.7. Key strategic moves and developments
- 10.4. Robert Bosch GmbH
- 10.4.1. Company overview
- 10.4.2. Key Executives
- 10.4.3. Company snapshot
- 10.4.4. Operating business segments
- 10.4.5. Product portfolio
- 10.4.6. Business performance
- 10.5. NSK Ltd.
- 10.5.1. Company overview
- 10.5.2. Key Executives
- 10.5.3. Company snapshot
- 10.5.4. Operating business segments
- 10.5.5. Product portfolio
- 10.5.6. Business performance
- 10.5.7. Key strategic moves and developments
- 10.6. ZF Friedrichshafen AG
- 10.6.1. Company overview
- 10.6.2. Key Executives
- 10.6.3. Company snapshot
- 10.6.4. Operating business segments
- 10.6.5. Product portfolio
- 10.6.6. Business performance
- 10.6.7. Key strategic moves and developments
- 10.7. Hitachi, Ltd.
- 10.7.1. Company overview
- 10.7.2. Key Executives
- 10.7.3. Company snapshot
- 10.7.4. Operating business segments
- 10.7.5. Product portfolio
- 10.7.6. Business performance
- 10.8. ThyssenKrupp AG
- 10.8.1. Company overview
- 10.8.2. Key Executives
- 10.8.3. Company snapshot
- 10.8.4. Operating business segments
- 10.8.5. Product portfolio
- 10.8.6. Business performance
- 10.8.7. Key strategic moves and developments
- 10.9. Zhejiang Shibao Co., Ltd.
- 10.9.1. Company overview
- 10.9.2. Key Executives
- 10.9.3. Company snapshot
- 10.9.4. Operating business segments
- 10.9.5. Product portfolio
- 10.9.6. Business performance
- 10.10. BBB Industries
- 10.10.1. Company overview
- 10.10.2. Key Executives
- 10.10.3. Company snapshot
- 10.10.4. Operating business segments
- 10.10.5. Product portfolio