Electric Power Steering Global Market Report 2024

Global Electric Power Steering Market Report 2024

Electric Power Steering Global Market Report 2024 – By Type( R-EPS, P-EPS, C-EPS), By Component( Steering Column, Sensors, Steering Gear, Mechanical Rack and Pinion, Electronic Control Unit, Electric Motor, Bearing), By Electric Motor( Brush Motor, Brushless Motor), By Mechanism( Rigid, Collapsible), By Application( Passenger Cars (PC), Commercial Vehicles (CV)) – Market Size, Trends, And Global Forecast 2024-2033

Name: Electric Power Steering Global Market Report 2024
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Electric Power Steering Global Market Report 2024

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Electric Power Steering Global Market Report 2024

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Electric Power Steering Market Definition

Electric power steering refers to a mechanical system that uses an electric motor to draw energy from the vehicle's electric system to assist the steering wheel. It is used to provide steering assistance to the driver of a vehicle.

The main types of electric power steering market are R-EPS, P-EPS and C-EPS. R-EPS is an assisted unit that connects to the steering rack and these units are capable of steering mid-sized vehicles to full-size trucks and are designed to withstand high environmental exposure and temperature. The various components involve the steering column, sensors, steering gear, mechanical rack and pinion, electronic control unit, electric motor and bearing, which involve electric motor of various type such as brush motor and a brushless motor. The mechanisms are rigid and collapsible that are used in various applications such as passenger cars and commercial vehicles.

Electric Power Steering Market Segmentation

The electric power steering market covered in this report is segmented –

1) By Type: R-EPS, P-EPS, C-EPS

2) By Component: Steering Column, Sensors, Steering Gear, Mechanical Rack and Pinion, Electronic Control Unit, Electric Motor, Bearing

3) By Electric Motor: Brush Motor, Brushless Motor

3) By Mechanism: Rigid, Collapsible

4) By Application: Passenger Cars (PC), Commercial Vehicles (CV)

Global Electric Power Steering Market Size 2023 to 2028: Graph

Electric Power Steering Market Size 2024 And Growth Rate

The electric power steering market size has grown strongly in recent years. It will grow from $27.26 billion in 2023 to $29.25 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to fuel efficiency and emissions reduction, enhanced vehicle safety and control, regulatory standards and norms, consumer preference for comfortable driving experience, reduction in manufacturing costs.

Electric Power Steering Market Growth Forecast

The electric power steering market size is expected to see strong growth in the next few years. It will grow to $38.47 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to integration with autonomous driving systems, rise in electric and hybrid vehicle production, advancements in eps, consumer demand for enhanced driving experience, environmental regulations and fuel efficiency. Major trends in the forecast period include demand for noiseless and smooth steering, enhanced connectivity and data integration, focus on energy efficiency, development of dual pinion eps, adoption of steer-by-wire technology.

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Electric Power Steering Market Driver: The Surge In Electric Vehicle Demand Fuels Growth In The Electric Power Steering Market

The increasing demand for electric vehicles across the world is expected to propel the growth of the electric power steering market going forward. Electric vehicles are vehicles that consist of a motor that is powered by electricity stored in batteries. Additionally, with defense against COVID-19 and aspirations to achieve net-zero emissions, EVs and hybrid vehicles are suddenly adopted. With electric power steering being the primary component in electric vehicles, an increase in electric vehicles necessitates more electric power steering, which raises demand for the electric power steering market. For instance, according to the Global EV Outlook 2022 report, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million. Additionally, the sales of electric car vehicles worldwide in 2021 will have reached 6600000 units from 2980000 units. Therefore, the increasing demand for electric vehicles is driving the growth of the electric power steering market.

Electric Power Steering Market Driver: Role Of Electric Power Steering (EPS) In Driver Assistance Integration

The increasing adoption of driver assistance systems is expected to propel the growth of the electric power steering market going forward. Driver assistance systems refer to a group of electronic technologies that assist drivers in driving and parking functions. EPS integration with ADAS allows for precise and controlled steering responses, facilitating features such as lane-keeping assistance and automated lane centering for improved vehicle stability and safety. For instance, in April 2022, according to the Insurance Institute for Highway Safety and Highway Loss Data Institute, a US-based nonprofit research organization that conducts research related to automotive safety and insurance, the adoption of adaptive cruise control with lane centering, a specific type of driver assistance system, is projected to grow significantly from 7% in 2021 to 15% by 2026. Additionally, the deployment of rear parking sensors is expected to surpass 60% fleet penetration by 2026, compared to the 41% recorded in 2021. Therefore, increasing adoption of driver assistance systems will drive the growth of the electric power steering market.

Global Electric Power Steering Market Major Players

Major companies operating in the electric power steering market report are Robert Bosch GmbH, JTEKT Corporation, Nexteer Automotive Group Limited, ZF Friedrichshafen AG, NSK Steering Systems Pvt. Ltd., Mando Corporation, Guest, Keen and Nettlefolds Ltd., Federal-Mogul Corporation, Hyundai Mobis Co Ltd., Showa Corporation, Hitachi Astemo Ltd., Mitsubishi Motors Corporation, Denso Corporation, Renesas Electronics Corp., China Automotive System, KYB Corporation, Thyssenkrupp AG, Delphi Technologies, Tenneco Inc., Thompson Ramo Wooldridge Inc., GKN Driveline Service GmbH, Zhejiang Shibao Company Limited, Jilin Dongfeng Power Co. Ltd., Chongqing Jianshe Automobile Electric Co. Ltd., Hella GmbH & Co. KGaA, Valeo Group, Magna International Inc., Huayu Automotive Systems Co. Ltd., Sichuan Tianyi Timing Chain Co. Ltd., Jiangsu Dajiang Automotive Electric Motor Co. Ltd., Zhejiang Jiuli Hi-Tech Metals Co. Ltd.

Global Electric Power Steering Market Trend: Breakthrough Modular Column-Assist Eps System Sets New Standards In Electric Power Steering Market

Product innovations are a key trend gaining popularity in the electric power steering market. Major companies operating in the electric power steering market are focused on developing new technological solutions to strengthen their position. For instance, in October 2021, Nexteer Automotive, a US-based motion control technology company, launched a new modular column-assist EPS system. The unique feature of the new system is high-performance torque and angle sensors that make the steering feel more accurate to the driver. It is an innovative system that offers a cost-efficient, modular design to achieve scalability and flexibility. The system is expected to support various load capacities and will offer reconfigurable and customizable steering.

Global Electric Power Steering Market Trend: Column-Type Eps-Pp Revolutionizes Electric Power Steering Market With Enhanced Performance And Cost Efficiency

Major companies operating in the electric power steering market are focused on developing innovative electric power steering motor power pack (EPS-PP) products, such as the Column-Type EPS-PP, to meet larger customer bases and increase revenue. A Column-Type Electric Power Steering Motor Power Pack (EPS-PP) refers to an advanced system that specifically addresses the steering requirements of electric power steering units, ensuring smooth steering performance while emphasizing cost efficiency and reducing friction and torque ripple, particularly in the context of Advanced Driver Assistance Systems (ADAS). For instance, in June 2023, Nidec Corporation, a Japan-based automotive product manufacturing company, introduced column-type EPS units to deliver smooth steering equivalent to rack-type units, all while meeting market expectations for cost reduction. Nidec's EPS-PP not only detects but also corrects motor and EPS unit friction and torque ripple in real-time, effectively resolving concerns related to artificial steering sensations. This achievement allows Nidec to optimize cost-efficiency in addressing these issues and reduce costs while maintaining the power pack's high performance. Additionally, the new product facilitates cost savings on motor materials by utilizing lower-grade alternatives, such as replacing traditional electromagnetic steel sheets to mitigate friction-induced loss torque.

Electric Power Steering Market Merger And Acquisition: Faurecia's Strategic Acquisition Of Hella Gmbh & Co. Kgaa To Forge Automotive Technology Leadership

In January 2022, Faurecia S.E., a France-based automotive technology company, acquired Hella GmbH & Co. KGaA for an undisclosed amount. With this acquisition, Faurecia aims to combine and establish Hella as a global technology leader in the automotive sector, encompassing a diverse customer base in electric mobility, automated driving, future cockpit technologies, and lifecycle value management (including aftermarket and special applications). Hella GmbH & Co. KGaA is a Germany-based automotive technology company providing an electronic control unit for electrical power steering.

Regional Outlook For The Global Electric Power Steering Market

Asia-Pacific was the largest region in the electric power steering market share in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the electric power steering market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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

The electric power steering market consists of sales of hydroelectric steering, electric steering, and steer-by-wire steering. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The electric power steering market research report is one of a series of new reports from The Business Research Company that provides electric power steering market statistics, including the electric power steering industry global market size, regional shares, competitors with electric power steering market share, detailed electric power steering market segments, market trends and opportunities, and any further data you may need to thrive in the electric power steering industry. This electric power steering market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Electric Power Steering Market Report Forecast And Analysis

Report Attribute	Details
Market Size Value In 2024	$29.25 billion
Revenue Forecast In 2033	$38.47 billion
Growth Rate	CAGR of 7.1% from 2024 to 2033
Base Year For Estimation	2023
Actual Estimates/Historical Data	2018-2023
Forecast Period	2024 - 2028 - 2033
Market Representation	Revenue in USD Billion and CAGR from 2024 to 2033
Segments Covered	1) By Type: R-EPS, P-EPS, C-EPS 2) By Component: Steering Column, Sensors, Steering Gear, Mechanical Rack and Pinion, Electronic Control Unit, Electric Motor, Bearing 3) By Electric Motor: Brush Motor, Brushless Motor 3) By Mechanism: Rigid, Collapsible 4) By Application: Passenger Cars (PC), Commercial Vehicles (CV)
Regional Scope	Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Country Scope	The countries covered in the report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. Additional countries that can be covered in the report for an additional fee: Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, Mexico, Chile, Argentina, Colombia, Peru, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
Key Companies Profiled	Robert Bosch GmbH; JTEKT Corporation; Nexteer Automotive Group Limited; ZF Friedrichshafen AG; NSK Steering Systems Pvt. Ltd.; Mando Corporation; Guest, Keen and Nettlefolds Ltd.; Federal-Mogul Corporation; Hyundai Mobis Co Ltd.; Showa Corporation; Hitachi Astemo Ltd.; Mitsubishi Motors Corporation; Denso Corporation; Renesas Electronics Corp.; China Automotive System; KYB Corporation; Thyssenkrupp AG; Delphi Technologies; Tenneco Inc.; Thompson Ramo Wooldridge Inc.; GKN Driveline Service GmbH; Zhejiang Shibao Company Limited; Jilin Dongfeng Power Co. Ltd.; Chongqing Jianshe Automobile Electric Co. Ltd.; Hella GmbH & Co. KGaA; Valeo Group; Magna International Inc.; Huayu Automotive Systems Co. Ltd.; Sichuan Tianyi Timing Chain Co. Ltd.; Jiangsu Dajiang Automotive Electric Motor Co. Ltd.; Zhejiang Jiuli Hi-Tech Metals Co. Ltd.
Customization Scope	Request for Sample
Pricing And Purchase Options	Explore Purchase Options

1. Executive Summary

2. Electric Power Steering Market Characteristics

3. Electric Power Steering Market Trends And Strategies

4. Electric Power Steering Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market

4.2. Ukraine-Russia War Impact On the Market

4.3. COVID-19 Impact On the Market

5. Global Electric Power Steering Market Size and Growth

5.1. Global Electric Power Steering Market Drivers and Restraints

5.1.1. Drivers Of The Market

5.1.2. Restraints Of The Market

5.2. Global Electric Power Steering Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)

5.3. Global Electric Power Steering Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Electric Power Steering Market Segmentation

6.1. Global Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

R-EPS

P-EPS

C-EPS

6.2. Global Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Steering Column

Sensors

Steering Gear

Mechanical Rack and Pinion

Electronic Control Unit

Electric Motor

Bearing

6.3. Global Electric Power Steering Market, Segmentation By Electric Motor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Brush Motor

Brushless Motor

6.4. Global Electric Power Steering Market, Segmentation By Mechanism, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Rigid

Collapsible

6.5. Global Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Passenger Cars (PC)

Commercial Vehicles (CV)

7. Electric Power Steering Market Regional And Country Analysis

7.1. Global Electric Power Steering Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

7.2. Global Electric Power Steering Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Electric Power Steering Market

8.1. Asia-Pacific Electric Power Steering Market Overview

Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

8.2. Asia-Pacific Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8.3. Asia-Pacific Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8.4. Asia-Pacific Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Electric Power Steering Market

9.1. China Electric Power Steering Market Overview

9.2. China Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

9.3. China Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

9.4. China Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Electric Power Steering Market

10.1. India Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

10.2. India Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

10.3. India Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Electric Power Steering Market

11.1. Japan Electric Power Steering Market Overview

11.2. Japan Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11.3. Japan Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11.4. Japan Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Electric Power Steering Market

12.1. Australia Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12.2. Australia Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12.3. Australia Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Electric Power Steering Market

13.1. Indonesia Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13.2. Indonesia Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13.3. Indonesia Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Electric Power Steering Market

14.1. South Korea Electric Power Steering Market Overview

14.2. South Korea Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14.3. South Korea Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14.4. South Korea Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Electric Power Steering Market

15.1. Western Europe Electric Power Steering Market Overview

15.2. Western Europe Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15.3. Western Europe Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15.4. Western Europe Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Electric Power Steering Market

16.1. UK Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16.2. UK Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16.3. UK Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Electric Power Steering Market

17.1. Germany Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17.2. Germany Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17.3. Germany Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Electric Power Steering Market

18.5. France Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18.6. France Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18.7. France Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Electric Power Steering Market

19.9. Italy Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19.10. Italy Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19.11. Italy Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Electric Power Steering Market

20.13. Spain Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20.14. Spain Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20.15. Spain Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Electric Power Steering Market

21.1. Eastern Europe Electric Power Steering Market Overview

21.2. Eastern Europe Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21.3. Eastern Europe Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21.4. Eastern Europe Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Electric Power Steering Market

22.1. Russia Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22.2. Russia Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22.3. Russia Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Electric Power Steering Market

23.1. North America Electric Power Steering Market Overview

23.2. North America Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23.3. North America Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23.4. North America Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Electric Power Steering Market

24.1. USA Electric Power Steering Market Overview

24.2. USA Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24.3. USA Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24.4. USA Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Electric Power Steering Market

25.1. Canada Electric Power Steering Market Overview

25.2. Canada Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25.3. Canada Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25.4. Canada Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Electric Power Steering Market

26.1. South America Electric Power Steering Market Overview

26.2. South America Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26.3. South America Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26.4. South America Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Electric Power Steering Market

27.1. Brazil Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27.2. Brazil Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27.3. Brazil Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Electric Power Steering Market

28.1. Middle East Electric Power Steering Market Overview

28.2. Middle East Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28.3. Middle East Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28.4. Middle East Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Electric Power Steering Market

29.1. Africa Electric Power Steering Market Overview

29.2. Africa Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29.3. Africa Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29.4. Africa Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Electric Power Steering Market Competitive Landscape And Company Profiles

30.1. Electric Power Steering Market Competitive Landscape

30.2. Electric Power Steering Market Company Profiles

30.2.1. Robert Bosch GmbH

30.2.1.1. Overview

30.2.1.2. Products and Services

30.2.1.3. Strategy

30.2.1.4. Financial Performance

30.2.2. JTEKT Corporation

30.2.2.1. Overview

30.2.2.2. Products and Services

30.2.2.3. Strategy

30.2.2.4. Financial Performance

30.2.3. Nexteer Automotive Group Limited

30.2.3.1. Overview

30.2.3.2. Products and Services

30.2.3.3. Strategy

30.2.3.4. Financial Performance

30.2.4. ZF Friedrichshafen AG

30.2.4.1. Overview

30.2.4.2. Products and Services

30.2.4.3. Strategy

30.2.4.4. Financial Performance

30.2.5. NSK Steering Systems Pvt. Ltd.

30.2.5.1. Overview

30.2.5.2. Products and Services

30.2.5.3. Strategy

30.2.5.4. Financial Performance

31. Global Electric Power Steering Market Competitive Benchmarking

32. Global Electric Power Steering Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Electric Power Steering Market

34. Electric Power Steering Market Future Outlook and Potential Analysis

34.1 Electric Power Steering Market In 2028 - Countries Offering Most New Opportunities

34.2 Electric Power Steering Market In 2028 - Segments Offering Most New Opportunities

34.3 Electric Power Steering Market In 2028 - Growth Strategies

34.3.1 Market Trend Based Strategies

34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations

35.2. Currencies

35.3. Historic And Forecast Inflation Rates

35.4. Research Inquiries

35.5. The Business Research Company

35.6. Copyright And Disclaimer

List Of Tables

Table 1: Global Historic Market Growth, 2018-2023, $ Billion

Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Table 3: Global Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 4: Global Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 5: Global Electric Power Steering Market, Segmentation By Electric Motor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 6: Global Electric Power Steering Market, Segmentation By Mechanism, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 7: Global Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 8: Global Electric Power Steering Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 9: Global Electric Power Steering Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 10: Asia-Pacific, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 11: Asia-Pacific, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 12: Asia-Pacific, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 13: China, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 14: China, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 15: China, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 16: India, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 17: India, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 18: India, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 19: Japan, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 20: Japan, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 21: Japan, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 22: Australia, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 23: Australia, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 24: Australia, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 25: Indonesia, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 26: Indonesia, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 27: Indonesia, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 28: South Korea, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 29: South Korea, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 30: South Korea, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 31: Western Europe, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 32: Western Europe, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 33: Western Europe, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 34: UK, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 35: UK, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 36: UK, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 37: Germany, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 38: Germany, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 39: Germany, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 40: France, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 41: France, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 42: France, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 43: Italy, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 44: Italy, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 45: Italy, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 46: Spain, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 47: Spain, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 48: Spain, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 49: Eastern Europe, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 50: Eastern Europe, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 51: Eastern Europe, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 52: Russia, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 53: Russia, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 54: Russia, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 55: North America, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 56: North America, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 57: North America, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 58: USA, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 59: USA, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 60: USA, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 61: Canada, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 62: Canada, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 63: Canada, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 64: South America, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 65: South America, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 66: South America, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 67: Brazil, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 68: Brazil, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 69: Brazil, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 70: Middle East, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 71: Middle East, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 72: Middle East, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 73: Africa, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 74: Africa, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 75: Africa, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 76: Robert Bosch GmbH Financial Performance

Table 77: JTEKT Corporation Financial Performance

Table 78: Nexteer Automotive Group Limited Financial Performance

Table 79: ZF Friedrichshafen AG Financial Performance

Table 80: NSK Steering Systems Pvt. Ltd. Financial Performance

List Of Figures

Figure 1: Global Historic Market Growth, 2018-2023, $ Billion

Figure 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Figure 3: Global Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 4: Global Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 5: Global Electric Power Steering Market, Segmentation By Electric Motor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 6: Global Electric Power Steering Market, Segmentation By Mechanism, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 7: Global Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 8: Global Electric Power Steering Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 9: Global Electric Power Steering Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 10: Asia-Pacific, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 11: Asia-Pacific, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 12: Asia-Pacific, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 13: China, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 14: China, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 15: China, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 16: India, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 17: India, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 18: India, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 19: Japan, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 20: Japan, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 21: Japan, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 22: Australia, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 23: Australia, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 24: Australia, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 25: Indonesia, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 26: Indonesia, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 27: Indonesia, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 28: South Korea, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 29: South Korea, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 30: South Korea, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 31: Western Europe, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 32: Western Europe, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 33: Western Europe, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 34: UK, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 35: UK, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 36: UK, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 37: Germany, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 38: Germany, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 39: Germany, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 40: France, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 41: France, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 42: France, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 43: Italy, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 44: Italy, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 45: Italy, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 46: Spain, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 47: Spain, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 48: Spain, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 49: Eastern Europe, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 50: Eastern Europe, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 51: Eastern Europe, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 52: Russia, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 53: Russia, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 54: Russia, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 55: North America, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 56: North America, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 57: North America, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 58: USA, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 59: USA, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 60: USA, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 61: Canada, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 62: Canada, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 63: Canada, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 64: South America, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 65: South America, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 66: South America, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 67: Brazil, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 68: Brazil, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 69: Brazil, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 70: Middle East, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 71: Middle East, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 72: Middle East, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 73: Africa, Electric Power Steering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 74: Africa, Electric Power Steering Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 75: Africa, Electric Power Steering Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 76: Robert Bosch GmbH Financial Performance

Figure 77: JTEKT Corporation Financial Performance

Figure 78: Nexteer Automotive Group Limited Financial Performance

Figure 79: ZF Friedrichshafen AG Financial Performance

Figure 80: NSK Steering Systems Pvt. Ltd. Financial Performance

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Frequently Asked Questions

What is the definition of the electric power steering market?

How will the electric power steering market drivers and restraints affect the electric power steering market dynamics? What forces will shape the electric power steering industry going forward?

The electric power steering market major growth driver - the surge in electric vehicle demand fuels growth in the electric power steering market. For further insights on the electric power steering market, request a sample here

What is the forecast market size or the forecast market value of the electric power steering market ?

The electric power steering market size has grown strongly in recent years. It will grow from $27.26 billion in 2023 to $29.25 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to fuel efficiency and emissions reduction, enhanced vehicle safety and control, regulatory standards and norms, consumer preference for comfortable driving experience, reduction in manufacturing costs. The electric power steering market size is expected to see strong growth in the next few years. It will grow to $38.47 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to integration with autonomous driving systems, rise in electric and hybrid vehicle production, advancements in eps , consumer demand for enhanced driving experience, environmental regulations and fuel efficiency. Major trends in the forecast period include demand for noiseless and smooth steering, enhanced connectivity and data integration, focus on energy efficiency, development of dual pinion eps, adoption of steer-by-wire technology. For further insights on the electric power steering market, request a sample here

How is the electric power steering market segmented?

The electric power steering market is segmentedThe electric power steering market covered in this report is segmented –
1) By Type: R-EPS, P-EPS, C-EPS
2) By Component: Steering Column, Sensors, Steering Gear, Mechanical Rack and Pinion, Electronic Control Unit, Electric Motor, Bearing
3) By Electric Motor: Brush Motor, Brushless Motor
3) By Mechanism: Rigid, Collapsible
4) By Application: Passenger Cars (PC), Commercial Vehicles (CV)For further insights on the electric power steering market, request a sample here

Which region has the largest share of the electric power steering market? What are the other regions covered in the report?

Asia-Pacific was the largest region in the electric power steering market share in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the electric power steering market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. For further insights on the electric power steering market, request a sample here.

Who are the major players in the electric power steering market?

What are the key trends in the electric power steering market?

Major trend in the electric power steering market - breakthrough modular column-assist eps system sets new standards in electric power steering market. For further insights on the electric power steering market, request a sample here.

What are the major opportunities in the electric power steering market? What are the strategies for the electric power steering market?

For detailed insights on the major opportunities and strategies in the electric power steering market, request a sample here.

How does the electric power steering market relate to the overall economy and other similar markets?

For detailed insights on electric power steering market's relation to the overall economy and other similar markets, request a sample here.

What are the latest mergers and acquisitions in the electric power steering industry?

For detailed insights on the mergers and acquisitions in the electric power steering industry, request a sample here.

What are the key dynamics influencing the electric power steering market growth? SWOT analysis of the electric power steering market.

For detailed insights on the key dynamics influencing the electric power steering market growth and SWOT analysis of the electric power steering industry, request a sample here.