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Electric Power Steering Market
Electric Power Steering Market Size, Share, Forecast, & Trends Analysis by Type (Rack-assist EPS, Column-assist EPS, Pinion-assist EPS), Application (Internal Combustion Engine Vehicle, Electric Vehicles), and Geography - Global Forecast to 2031
Report ID:MRAUTO - 1041185 Pages: 250 May-2024 Formats*: PDF Category: Automotive and Transportation Delivery: 24 to 72 HoursElectric Power Steering Market Size & Forecast
The Electric Power Steering Market is expected to reach $37.1 billion by 2031, at a CAGR of 5.3% from 2024 to 2031. The growth of the electric power steering market is driven by the increasing adoption of EPS to enhance driving experience and the growing use of EPS to reduce the complexity and weight of vehicles. Furthermore, the surging use of steer-by-wire technology and the growing adoption of electric vehicles are expected to generate growth opportunities for the players operating in this market.
Electric Power Steering Market Growth Drivers
Increasing Adoption of EPS to Enhance Driving Experience
Electric power steering (EPS) has become increasingly popular in modern vehicles due to its advantages over traditional hydraulic power steering systems. This technology significantly enhances the driving experience in several ways, such as by improving fuel efficiency, enhanced steering precision and control, and variable steering assistance. Additionally, EPS systems have increasingly been integrated with ADAS, which provides features like lane-keeping assistance, adaptive cruise control, and automatic parking.
Moreover, the adoption of EPS systems reduces the physical efforts required to steer, which is especially beneficial in city driving and parking situations. The increasing adoption of EPS over hydraulic power steering is because EPS systems are generally more lightweight compared to hydraulic systems. This helps to reduce mechanical complexity and leads to lower maintenance requirements. Thus, the increasing adoption of EPS systems to enhance the driving experience helps to increase the demand for EPS during the forecast period.
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Growing Use of EPS to Reduce Complexity and Weight of Vehicles
Electric power steering (EPS) reduces complexity and weight in vehicles by simplifying the steering system's design and eliminating the need for certain components used in traditional hydraulic power steering. An EPS system uses an electric motor to provide power steering assistance, which is directly mounted on the steering column or rack. Thus, this integration allows for a more straightforward design compared to the complex arrangement of hydraulic systems, which requires circulation and pressure management.
Moreover, EPS systems use lightweight materials in their construction, helping to reduce the weight of vehicles. Components such as electric motors, sensors, bearings, and electronic control units are designed to be compact and efficient, further minimizing the weight of vehicles. Thus, EPS helps reduce complexity and weight in vehicles by simplifying the steering system's design, eliminating hydraulic components, reducing maintenance requirements, and allowing for more flexible placement of parts.
Electric Power Steering Market Opportunity
Surging Use of Steer-by-Wire Technology
Steer-by-wire technology represents a significant evolution in electronic power steering (EPS). Steer-by-wire technology removes the physical connection between the steering wheel and the wheels, relying entirely on electronic signals to control steering. This technology uses sensors, electric actuators, and electronic control units (ECUs) to convey steering inputs. The adoption of steer-by-wire technology is used to reduce the weight and complexity of steering systems. Steer-by-wire systems automatically adjust steering response based on vehicle dynamics and safety requirements.
Moreover, the steer-by-wire technology is beneficial to advanced driver-assistance systems (ADAS) and autonomous driving features. It can enable lane-keeping assist, adaptive cruise control, and automated parking without the constraints of mechanical linkages. With the increasing adoption of this technology, several steering systems providers are launching EPS systems with steer-by-wire technology to offer benefits such as flexibility, weight reduction, integration with ADAS, and customization. For instance, in September 2023, Titan Motorsport & Automotive LIMITED (U.K.), a U.K.-based developer and manufacturer of electric vehicle steering systems, launched a new steer-by-wire system. The system can be used by a wide range of low-volume vehicles, from light commercial vehicles and trucks to supercars.
Electric Power Steering Analysis: Key Findings
By Type: In 2024, the Rack-assist Electric Power Steering Segment to Dominate the Electric Power Steering Market
Based on type, the electric power steering market is segmented into rack-assist electric power steering, column-assist electric power steering, and pinion-assist electric power steering. In 2024, the rack-assist electric power steering segment is expected to account for the largest share of above 40.0% of the electric power steering market. The segment's large market share is attributed to the increasing adoption of rack-assist EPS to enhance steering precision; the increasing need to adjust the level of steering assistance based on vehicle speed and driving condition; and the rack-assist EPS to enhance fuel efficiency, steering response, and maintenance.
Additionally, with the growing adoption of rack-assist EPS, several providers are increasingly launching (mREPS) systems to efficiently meet OEMs’ wide-ranging requirements for advanced steering systems. For instance, in April 2023, Nexteer Automotive Corporation (U.S.) launched the Modular Rack-Assist Electric Power Steering (mREPS) system and expanded the company’s cost-effective, modular EPS offerings. Nexteer’s mREPS provides flexibility to efficiently meet OEMs’ wide-ranging requirements for advanced steering systems of heavier vehicles, EVs, and light commercial vehicles.
However, the column-assist electric power steering segment is expected to register the highest CAGR during the forecast period. This segment's growth is attributed to the increasing adoption of column-assist EPS due to its compact design, the rising use of column-assist EPS to reduce vibration transmitted to the steering wheel, and the integration of column-assist EPS with advanced driver-assistance systems such as lane-keeping assist and adaptive cruise control.
By Application: In 2024, the Internal Combustion Engine Vehicle Segment to Dominate the Electric Power Steering Market
Based on application, the electric power steering market is segmented into internal combustion engine vehicles and electric vehicles. In 2024, the internal combustion engine vehicle segment is expected to account for the larger share of above 68.0% of the electric power steering market. The segment's large market share is attributed to the increasing adoption of EPS to enhance the driving experience in ICE vehicles; the rising use of EPS in ICE vehicles due to it being more energy-efficient compared to traditional hydraulic power steering systems; and the rising integration of EPS with various vehicle control systems such as stability control, lane-keeping assist, automatic parking.
However, the electric vehicles segment is expected to register the highest CAGR during the forecast period. This segment's growth is attributed to the increasing adoption of EPS in EVs to improve safety and redundancy, the rising use of EPS in electric vehicles for energy efficiency and to reduce vehicle complexity and weight, and the EPS's ability to provide variable steering assistance, enabling lighter steering at low speed and stronger steering at high speed.
Geographical Analysis
In 2024, Asia-Pacific Region to Dominate the Electric Power Steering Market
In 2024, Asia-Pacific is expected to account for the largest share of above 36.0% of the electric power steering market. Asia-Pacific’s significant market share can be attributed to the growing penetration of EPS systems in major countries such as India, China, and Japan; the increasing production of electric vehicles; the growing use of EPS to reduce the complexity and weight of vehicles; new technological advancements such as steer-by-wire technology in EPS systems; and the increasing need of EPS systems in commercial vehicles due to heavier steering loads.
Also, this market is expected to register the highest CAGR of above 7.0% during the forecast period.
Electric Power Steering Market: Key Companies
The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last 3–4 years. Some of the key players operating in the electric power steering market JTEKT Corporation (Japan), Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), Nidec Corporation (Japan), Magna International Inc. (Canada), ContiTech Deutschland GmbH (Germany), HYCET Technology Co., Ltd (China), HL Mando Corporation (South Korea), Mitsubishi Electric Mobility Corporation (Japan), Nexteer Automotive Corporation (U.S.), NSK Ltd. (Japan), thyssenkrupp AG (Germany), Hitachi Astemo Americas, Inc. (A Subsidiary of Hitachi America Ltd) (U.S), and MAHLE GmbH (A Subsidiary of Mahle Stiftung GmbH) (Germany).
Electric Power Steering Industry Overview: Latest Developments from Key Industry Players
- In June 2023, Nidec Corporation (Japan) launched an electric power steering motor power pack (EPS-PP). Nidec’s newly developed EPS-PP detects and corrects the motor’s and the EPS unit’s friction and torque ripple as they are generated to successfully solve the lingering issue of artificial steering feeling.
- In December 2022, China Automotive Systems, Inc. (China) launched a new series of electric power steering systems for BYD Company Limited (China), a Chinese EV producer.
Electric Power Steering Market Research Summary
|
Particulars |
Details |
|
Number of Pages |
250 |
|
Format |
|
|
Forecast Period |
2024–2031 |
|
Base Year |
2023 |
|
CAGR (Value) |
5.3% |
|
Market Size (Value) |
USD 37.1 Billion by 2031 |
|
Segments Covered |
By Type
By Application
|
|
Countries Covered |
North America (U.S., Canada), Europe (Germany, U.K., France, Italy, Netherlands, Spain, Sweden, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Singapore, Australia & New Zealand, Indonesia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa (Saudi Arabia, UAE, Israel, and Rest of the Middle East & Africa) |
|
Key Companies |
JTEKT Corporation (Japan), Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), Nidec Corporation (Japan), Magna International Inc. (Canada), ContiTech Deutschland GmbH (Germany), HYCET Technology Co., Ltd (China), HL Mando Corporation (South Korea), Mitsubishi Electric Mobility Corporation (Japan), Nexteer Automotive Corporation (U.S.), NSK Ltd. (Japan), thyssenkrupp AG (Germany), Hitachi Astemo Americas, Inc. (A Subsidiary of Hitachi America Ltd) (U.S), and MAHLE GmbH (A Subsidiary of Mahle Stiftung GmbH) (Germany). |
Key questions answered in the electric power steering market report:
The electric power steering market study focuses on market assessment and opportunity analysis through the sales of electric power steering across different regions and countries across different market segmentations. This study is also focused on competitive analysis for electric power steering based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies.
The electric power steering market is projected to reach $37.1 billion by 2031, at a CAGR of 5.3% from 2024 to 2031.
In 2024, the internal combustion engine vehicle segment is expected to account for the larger share of above 68.0% of the electric power steering market. The segment's large market share is attributed to the increasing adoption of EPS to enhance the driving experience in ICE vehicles; and the rising use of EPS in ICE vehicles due to being more energy-efficient compared to traditional hydraulic power steering systems.
The column-assist electric power steering segment is expected to register the highest CAGR during the forecast period. This segment's growth is attributed to the increasing adoption of column-assist EPS due to its compact design, the rising use of column-assist EPS to reduce vibration transmitted to the steering wheel, and the integration of column-assist EPS with advanced driver-assistance systems such as lane-keeping assist and adaptive cruise control.
The growth of the electric power steering market is driven by the increasing adoption of EPS to enhance driving experience and the growing use of EPS to reduce the complexity and weight of vehicles. Furthermore, the surging use of steer-by-wire technology and the growing adoption of electric vehicles are expected to generate growth opportunities for the players operating in this market.
The key players operating in the electric power steering market JTEKT Corporation (Japan), Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), Nidec Corporation (Japan), Magna International Inc. (Canada), ContiTech Deutschland GmbH (Germany), HYCET Technology Co., Ltd (China), HL Mando Corporation (South Korea), Mitsubishi Electric Mobility Corporation (Japan), Nexteer Automotive Corporation (U.S.), NSK Ltd. (Japan), thyssenkrupp AG (Germany), Hitachi Astemo Americas, Inc. (A Subsidiary of Hitachi America Ltd) (U.S), and MAHLE GmbH (A Subsidiary of Mahle Stiftung GmbH) (Germany).
The Asia-Pacific market is expected to register the highest CAGR of above 7.0% during the forecast period. The growth of this market is attributed to the growing penetration of EPS systems in major countries such as India, China, and Japan; the increasing production of electric vehicles; the growing use of EPS to reduce the complexity and weight of vehicles; the new technological advancements such as steer-by-wire technology in EPS systems; and the increasing need of EPS systems in commercial vehicles due to heavier steering loads.
1. Introduction
1.1. Market Definition & Scope
1.2. Currency & Limitations
1.2.1. Currency
1.2.2. Limitations
2. Research Methodology
2.1. Research Approach
2.2. Process of Data Collection and Validation
2.2.1. Secondary Research
2.2.2. Primary Research/Interviews with Key Opinion Leaders of the Industry
2.3. Market Sizing and Forecast
2.3.1. Market Size Estimation Approach
2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study
3. Executive Summary
3.1. Market Overview
3.2. Market Analysis, by Type
3.3. Market Analysis, by Application
3.4. Market Analysis, by Geography
3.5. Competitive Analysis
4. Market Insights
4.1. Overview
4.2. Factors Affecting Market Growth
4.2.1. Drivers
4.2.1.1. Increasing Adoption of EPS to Enhance Driving Experience
4.2.1.2. Growing Use of EPS to Reduce Complexity and Weight of Vehicles
4.2.2. Restraints
4.2.2.1. Limited Load-bearing Capacity of EPS Systems
4.2.3. Opportunities
4.2.3.1. Surging Use of Steer-by-Wire Technology
4.2.3.2. Growing Adoption of Electric Vehicles
4.2.4. Challenges
4.2.4.1. Complete Replacement for Any Malfunction
4.3. Key Trends
4.3.1. Market Trends
4.3.2. Technology Trends
4.4. Case Studies
4.4.1. Case Study A
4.4.2. Case Study B
4.4.3. Case Study C
4.5. Porter’s Five Forces Analysis
4.6. Value Chain Analysis
5. Global Electric Power Steering Market Assessment– by Type
5.1. Overview
5.2. Rack-assist Electric Power Steering
5.3. Column-assist Electric Power Steering
5.4. Pinion-assist Electric Power Steering
5.4.1. Single Pinion-assist EPS (SPEPS)
5.4.2. Dual Pinion-assist EPS (SPEPS)
6. Global Electric Power Steering Market Assessment—by Application
6.1. Overview
6.2. Internal Combustion Engine Vehicle
6.2.1. Commercial Vehicles
6.2.2. Passenger Vehicles
6.2.3. Industrial Vehicles
6.3. Electric Vehicles
6.3.1. Commercial Vehicles
6.3.2. Passenger Vehicles
7. Electric Power Steering Market Assessment–by Geography
7.1. North America
7.1.1. U.S.
7.1.2. Canada
7.2. Europe
7.2.1. Germany
7.2.2. U.K.
7.2.3. France
7.2.4. Italy
7.2.5. Netherlands
7.2.6. Spain
7.2.7. Sweden
7.2.8. Rest of Europe
7.3. Asia-Pacific
7.3.1. Japan
7.3.2. China
7.3.3. India
7.3.4. South Korea
7.3.5. Singapore
7.3.6. Australia & New Zealand
7.3.7. Indonesia
7.3.8. Rest of Asia-Pacific
7.4. Latin America
7.4.1. Mexico
7.4.2. Brazil
7.4.3. Rest of Latin America
7.5. Middle East & Africa
7.5.1. UAE
7.5.2. Saudi Arabia
7.5.3. Israel
7.5.4. Rest of Middle East & Africa
8. Competition Analysis
8.1. Overview
8.2. Key Growth Strategies
8.3. Competitive Benchmarking
8.4. Competitive Dashboard
8.4.1. Industry Leaders
8.4.2. Market Differentiators
8.4.3. Vanguards
8.4.4. Emerging Companies
8.5. Market Ranking, by Key Players
9. Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Development)
9.1. JTEKT Corporation
9.2. Robert Bosch GmbH
9.3. ZF Friedrichshafen AG
9.4. Nidec Corporation
9.5. Magna International Inc.
9.6. ContiTech Deutschland GmbH
9.7. HYCET Technology Co., Ltd
9.8. HL Mando Corporation
9.9. Mitsubishi Electric Mobility Corporation
9.10. Nexteer Automotive Corporation
9.11. NSK Ltd.
9.12. thyssenkrupp AG
9.13. Hitachi Astemo Americas, Inc.
9.14. MAHLE GmbH
(Note: SWOT analysis of the top 5 companies will be provided.)
10. Appendix
10.1. Available Customization
10.2. Related Reports
List of Tables
Table 1 Currency Conversion Rate (2018–2022)
Table 2 Global Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 3 Global Rack-assist Electric Power Steering Market, by Country/Region, 2022–2031 (USD Million)
Table 4 Global Column-assist Electric Power Steering Market, by Country/Region, 2022–2031 (USD Million)
Table 5 Global Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 6 Global Pinion-assist Electric Power Steering Market, by Country/Region, 2022–2031 (USD Million)
Table 7 Global Pinion-assist Electric Power Steering Market, by Country/Region, 2022–2031 (USD Million)
Table 8 Global Single Pinion-assist EPS Market, by Country/Region, 2022–2031 (USD Million)
Table 9 Global Dual Pinion-assist EPS Market, by Country/Region, 2022–2031 (USD Million)
Table 10 Global Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 11 Global Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 12 Global Electric Power Steering Market for Internal Combustion Engine Vehicle– by Country/Region, 2022–2031 (USD Million)
Table 13 Global Electric Power Steering Market for ICE Commercial Vehicles– by Country/Region, 2022–2031 (USD Million)
Table 14 Global Electric Power Steering Market for ICE Passenger Vehicles– by Country/Region, 2022–2031 (USD Million)
Table 15 Global Electric Power Steering Market for ICE Industrial Vehicles– by Country/Region, 2022–2031 (USD Million)
Table 16 Global Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 17 Global Electric Power Steering Market for Electric Vehicles– by Country/Region, 2022–2031 (USD Million)
Table 18 Global Electric Power Steering Market for EV Commercial Vehicles– by Country/Region, 2022–2031 (USD Million)
Table 19 Global Electric Power Steering Market for EV Passenger Vehicles– by Country/Region, 2022–2031 (USD Million)
Table 20 Global Electric Power Steering Market, by Country/Region, 2022–2031 (USD Million)
Table 21 North America: Electric Power Steering Market, by Country, 2022–2031 (USD Million)
Table 22 North America: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 23 North America: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 24 North America: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 25 North America: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 26 North America: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 27 U.S.: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 28 U.S.: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 29 U.S.: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 30 U.S.: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 31 U.S.: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 32 Canada: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 33 Canada: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 34 Canada: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 35 Canada: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 36 Canada: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 37 Europe: Electric Power Steering Market, by Country/Region, 2022–2031 (USD Million)
Table 38 Europe: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 39 Europe: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 40 Europe: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 41 Europe: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 42 Europe: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 43 Germany: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 44 Germany: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 45 Germany: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 46 Germany: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 47 Germany: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 48 U.K.: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 49 U.K.: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 50 U.K.: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 51 U.K.: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 52 U.K.: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 53 France: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 54 France: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 55 France: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 56 France: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 57 France: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 58 Italy: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 59 Italy: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 60 Italy: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 61 Italy: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 62 Italy: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 63 Netherlands: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 64 Netherlands: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 65 Netherlands: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 66 Netherlands: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 67 Netherlands: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 68 Spain: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 69 Spain: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 70 Spain: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 71 Spain: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 72 Spain: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 73 Sweden: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 74 Sweden: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 75 Sweden: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 76 Sweden: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 77 Sweden: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 78 Rest of Europe: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 79 Rest of Europe: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 80 Rest of Europe: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 81 Rest of Europe: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 82 Rest of Europe: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 83 Asia-Pacific: Electric Power Steering Market, by Country/Region, 2022–2031 (USD Million)
Table 84 Asia-Pacific: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 85 Asia-Pacific: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 86 Asia-Pacific: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 87 Asia-Pacific: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 88 Asia-Pacific: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 89 Japan: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 90 Japan: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 91 Japan: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 92 Japan: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 93 Japan: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 94 China: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 95 China: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 96 China: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 97 China: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 98 China: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 99 India: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 100 India: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 101 India: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 102 India: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 103 India: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 104 South Korea: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 105 South Korea: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 106 South Korea: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 107 South Korea: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 108 South Korea: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 109 Singapore: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 110 Singapore: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 111 Singapore: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 112 Singapore: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 113 Singapore: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 114 Australia & New Zealand: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 115 Australia & New Zealand: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 116 Australia & New Zealand: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 117 Australia & New Zealand: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 118 Australia & New Zealand: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 119 Indonesia: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 120 Indonesia: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 121 Indonesia: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 122 Indonesia: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 123 Indonesia: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 124 Rest of Asia-Pacific: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 125 Rest of Asia-Pacific: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 126 Rest of Asia-Pacific: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 127 Rest of Asia-Pacific: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 128 Rest of Asia-Pacific: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 129 Latin America: Electric Power Steering Market, by Country/Region, 2022–2031 (USD Million)
Table 130 Latin America: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 131 Latin America: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 132 Latin America: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 133 Latin America: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 134 Latin America: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 135 Mexico: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 136 Mexico: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 137 Mexico: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 138 Mexico: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 139 Mexico: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 140 Brazil: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 141 Brazil: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 142 Brazil: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 143 Brazil: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 144 Brazil: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 145 Rest of Latin America: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 146 Rest of Latin America: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 147 Rest of Latin America: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 148 Rest of Latin America: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 149 Rest of Latin America: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 150 Middle East & Africa: Electric Power Steering Market, by Country/Region, 2022–2031 (USD Million)
Table 151 Middle East & Africa: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 152 Middle East & Africa: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 153 Middle East & Africa: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 154 Middle East & Africa: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 155 Middle East & Africa: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 156 UAE: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 157 UAE: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 158 UAE: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 159 UAE: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 160 UAE: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 161 Saudi Arabia: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 162 Saudi Arabia: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 163 Saudi Arabia: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 164 Saudi Arabia: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 165 Saudi Arabia: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 166 Israel: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 167 Israel: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 168 Israel: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 169 Israel: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 170 Israel: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 171 Rest of Middle East & Africa: Electric Power Steering Market – by Type, 2022–2031 (USD Million)
Table 172 Rest of Middle East & Africa: Pinion-assist Electric Power Steering Market, by Type, 2022–2031 (USD Million)
Table 173 Rest of Middle East & Africa: Electric Power Steering Market – by Application, 2022–2031 (USD Million)
Table 174 Rest of Middle East & Africa: Electric Power Steering Market for Internal Combustion Engine Vehicle– by Type, 2022–2031 (USD Million)
Table 175 Rest of Middle East & Africa: Electric Power Steering Market for Electric Vehicles– by Type, 2022–2031 (USD Million)
Table 176 Recent Developments by Major Market Players (2021–2024)
Table 177 Market Ranking, by Key Players
List of Figures
Figure 1 Market Ecosystem
Figure 2 Key Stakeholders
Figure 3 Research Process
Figure 4 Key Secondary Sources
Figure 5 Primary Research Techniques
Figure 6 Key Executives Interviewed
Figure 7 Breakdown Of Primary Interviews (Supply-Side & Demand-Side)
Figure 8 Market Sizing And Growth Forecast Approach
Figure 9 Key Insights
Figure 10 In 2024, the Rack-assist Electric Power Steering Segment is Expected to Dominate The Global Electric Power Steering Market
Figure 11 In 2024, the Internal Combustion Engine Vehicle Segment is Expected to Dominate The Global Electric Power Steering Market
Figure 12 Global Electric Power Steering Market, by Region (2024 Vs. 2031)
Figure 13 Impact Analysis Of Market Dynamics
Figure 14 Global Electric Power Steering Market, by Type, 2024 Vs. 2031 (USD Million)
Figure 15 Global Electric Power Steering Market, by Application, 2024 Vs. 2031 (USD Million)
Figure 16 Global Electric Power Steering Market, by Geography, 2024 Vs. 2031 (USD Million)
Figure 17 Geographic Snapshot: Electric Power Steering Market In North America
Figure 18 Geographic Snapshot: Electric Power Steering Market In Europe
Figure 19 Geographic Snapshot: Electric Power Steering Market In Asia-Pacific
Figure 20 Geographic Snapshot: Electric Power Steering Market In Latin America
Figure 21 Geographic Snapshot: Electric Power Steering Market In Middle East & Africa
Figure 22 Growth Strategies Adopted by Leading Market Players (2021–2024)
Figure 23 Competitive Benchmarking Analysis (2021–2024)
Figure 24 Competitive Dashboard: Electric Power Steering Market
Figure 25 JTEKT Corporation: Financial Overview (2022)
Figure 26 Robert Bosch GmbH: Financial Overview (2022)
Figure 27 Nidec Corporation: Financial Overview (2022)
Figure 28 Magna International Inc.: Financial Overview (2022)
Figure 29 HL Mando Corporation: Financial Overview (2022)
Figure 30 Mitsubishi Electric Mobility Corporation: Financial Overview (2022)
Figure 31 Nexteer Automotive Corporation: Financial Overview (2022)
Figure 32 NSK Ltd.: Financial Overview (2022)
Figure 33 thyssenkrupp AG: Financial Overview (2022)
Figure 34 Hitachi America Ltd: Financial Overview (2022)
Figure 35 Mahle Stiftung GmbH: Financial Overview (2022)
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