The global Electronic Power Steering Market size was USD 18.0 billion in 2022, and is expected to reach a value of USD 35.98 billion in 2032, and register a revenue CAGR of 8% during the forecast period.

Globally, there is a growing demand for fuel-efficient vehicles as people’s concerns about environmental deterioration and the depletion of natural resources grow. Because of this, automakers are consistently creating cutting-edge power steering systems to lower fuel usage and pollutants. Compared to conventional hydraulic power steering systems, electronic power steering systems use less engine power, improving fuel efficiency. Additionally, compared to hydraulic power steering systems, electric power steering systems offer improved precision and response times, giving drivers more control and safety on the road.

Get a sample of the report @ 

The rising demand for electric vehicles drives the Electronic Power Steering industry. (EVs). Due to its compatibility with electric powertrains, electronic power steering systems are projected to see a rise in demand as the EV market expands. Electronic power steering systems are perfect for electric vehicles because they weigh less and take up less room than hydraulic power steering systems. EV producers also favor electronic power steering systems due to their improved energy economy and ability to combine cutting-edge safety features.

The rising awareness of car safety features is a crucial factor for the growth of the Electronic Power Steering market. To decrease traffic accidents, governments worldwide require the installation of cutting-edge safety technologies like lane departure warnings, automatic parking, and collision avoidance systems in automobiles. Electronic power steering systems play a significant role in offering these safety features by enabling the integration of sensors and other cutting-edge electronics.

Due to the presence of significant automakers there and the rising demand for EVs, the Asia Pacific region is anticipated to dominate the global market for Electronic Power Steering over the forecast period. Furthermore, governments in nations like China, India, and Japan encourage using electric vehicles (EVs) and cutting-edge safety features, fueling the need for electronic power steering systems.

 Competitive Landscape:

  • JTEKT Corporation
  • Bosch Automotive Steering GmbH
  • ZF Friedrichshafen AG
  • Delphi Technologies
  • Mitsubishi Electric Corporation
  • Denso Corporation
  • Nexteer Automotive
  • Hyundai Mobis Co., Ltd.
  • Mobis Parts Europe NV.
  • Showa Corporation
  • Hitachi Automotive Systems, Ltd.

The global market is further segmented into type and application:

By Type Outlook  

  • Column Assist EPAS
  • Rack Assist EPAS
By Component Outlook  

  • Power Steering ECU
  • Steering Motor
  • Sensors
  • Others
By Vehicle Type Outlook  

  • Passenger Cars
  • Commercial Vehicles

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

To request customization of this report @ 

Thank you for reading our report. We also offer customized report as per client requirement. Kindly connect with us to know more about customization plan and our team will offer you the altered report.

Browse More Reports:

Cyber Insurance Market @

Personal Finance Software Market @

Cash Logistics Market @

High-Speed Optical Transceiver Market @

Dark Fiber Market @

Digital Banking Platform Market @

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help clients make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Contact Us:

John W

(Head of Business Development)

Reports and Data |

Direct Line:+1-212-710-1370

Blogs|Press Release|Industry News|Our competencies

Browse MoreUpcoming Reports @

Browse More Latest Reports @

Leave a Reply

Your email address will not be published. Required fields are marked *