Electric Power Steering (EPS) System Market, By Type, By Component, By Vehicle Type By Geography

Description

Global Electric Power Steering (EPS) System Market is estimated to be valued at USD 26.97 Bn in 2025 and is expected to reach USD 39.26 Bn by 2032, growing at a compound annual growth rate (CAGR) of 5.5% from 2025 to 2032.

Report Coverage		Report Details
Base Year:	2024	Market Size in 2025:	USD 26.97 Bn
Historical Data for:	2020 To 2024	Forecast Period:	2025 To 2032
Forecast Period 2025 to 2032 CAGR:	5.50%	2032 Value Projection:	USD 39.26 Bn

Figure. Electric Power Steering (EPS) System Market Share (%), By Region 2025

Electric Power Steering (EPS) System Market - IMG1

The Global Electric Power Steering (EPS) System market has been growing significantly over the past decade due to various factors such as rising demand for fuel-efficient and low emission vehicles along with growing acceptance of advanced driver assistance systems. An EPS system supports electric power instead of hydraulic power for steering assist, which enhances fuel efficiency. The integration of EPS with ADAS functions has further boosted their adoption across different vehicle classes. OEMs are increasingly focusing on integrating newer technologies to offer enhanced safety, comfort, and driving experience to customers. Additionally, stringent emissions norms by regulatory bodies worldwide are propelling automakers to adopt lightweight and efficient components like EPS systems.

Market Dynamics:

The global EPS system market is driven by various factors such as growing vehicle production and sales, stringent fuel efficiency norms, and increasing demand for advanced safety and autonomous driving technologies. However, high development costs associated with EPS systems, especially for autonomous driving functions, can hamper the market growth. Additionally, availability of cheaper alternatives like hydraulic power steering systems poses a challenge. The market provides opportunities for OEMs and tier 1 suppliers to offer customized and integrated solutions, enabling advanced driver-assistance capabilities. Adoption of 48V architecture for mild-hybrid vehicles also creates scope for EPS systems manufacturers.

Key features of the study:

This report provides in-depth analysis of the global electric power steering (EPS) system market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2025-2032), considering 2024 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global electric power steering (EPS) system market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include Alcatel-Lucent (Nokia Networks), Bosch, DENSO Corporation, Hitachi Astemo (Showa), Hyundai Mobis, JTEKT Corporation, Mando Corporation, Mitsubishi Electric Corporation, Nexteer Automotive, NSK Global, Robert Bosch GmbH, Thyssenkrupp Presta AG, Valeo S.A., ZF Friedrichshafen AG, and Zhuzhou Elite Electro-Mechanical Co. Ltd.

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The global electric power steering (EPS) system market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global Electric Power Steering (EPS) system market.

Detailed Segmentation:

By Type
- Column Assist Type (CEPS)
- Pinion Assist Type (PEPS)
- Rack Assist Type (REPS)
By Component
- Steering Rack/Column
- Sensor
- Steering Motor
- Others
By Vehicle Type
- Passenger Car
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Buses & Coaches
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
Key Players Insights
- Alcatel-Lucent (Nokia Networks)
- Bosch
- DENSO Corporation
- Hitachi Astemo (Showa)
- Hyundai Mobis
- JTEKT Corporation
- Mando Corporation
- Mitsubishi Electric Corporation
- Nexteer Automotive
- NSK Global
- Robert Bosch GmbH
- Thyssenkrupp Presta AG
- Valeo S.A.
- ZF Friedrichshafen AG
- Zhuzhou Elite Electro-Mechanical Co. Ltd.

Product Code: CMI4991

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Type
- Market Snippet, By Component
- Market Snippet, By Vehicle Type
- Market Snippet, By Region

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic

4. Global Electric Power Steering (EPS) System Market, By Type, 2020-2032, (US$ Bn)

Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021-2032
- Segment Trends
Column Assist Type (CEPS)
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Bn)
Pinion Assist Type (PEPS)
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Bn)
Rack Assist Type (REPS)
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Bn)

5. Global Electric Power Steering (EPS) System Market, By Component, 2020-2032, (US$ Bn)

Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021-2032
- Segment Trends
Steering Rack/Column
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Bn)
Sensor
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Bn)
Steering Motor
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Bn)
Others
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Bn)

6. Global Electric Power Steering (EPS) System Market, By Vehicle Type, 2020-2032, (US$ Bn)

Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021-2032
- Segment Trends
Passenger Car
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Bn)
Light Commercial Vehicles
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Bn)
Heavy Commercial Vehicles
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Bn)
Buses & Coaches
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Bn)

7. Global Electric Power Steering (EPS) System Market, By Region, 2020-2032, (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021-2032
North America
- Regional Trends
- Market Size and Forecast, By Type, 2020-2032, (US$ Bn)
- Market Size and Forecast, By Component, 2020-2032, (US$ Bn)
- Market Size and Forecast, By Vehicle Type, 2020-2032, (US$ Bn)
- Market Size and Forecast, By Country, 2020-2032, (US$ Bn)
  - U.S.
  - Canada
Europe
- Regional Trends
- Market Size and Forecast, By Type, 2020-2032, (US$ Bn)
- Market Size and Forecast, By Component, 2020-2032, (US$ Bn)
- Market Size and Forecast, By Vehicle Type, 2020-2032, (US$ Bn)
- Market Size and Forecast, By Country, 2020-2032, (US$ Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Type, 2020-2032, (US$ Bn)
- Market Size and Forecast, By Component, 2020-2032, (US$ Bn)
- Market Size and Forecast, By Vehicle Type, 2020-2032, (US$ Bn)
- Market Size and Forecast, By Country, 2020-2032, (US$ Bn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Type, 2020-2032, (US$ Bn)
- Market Size and Forecast, By Component, 2020-2032, (US$ Bn)
- Market Size and Forecast, By Vehicle Type, 2020-2032, (US$ Bn)
- Market Size and Forecast, By Country, 2020-2032, (US$ Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Type, 2020-2032, (US$ Bn)
- Market Size and Forecast, By Component, 2020-2032, (US$ Bn)
- Market Size and Forecast, By Vehicle Type, 2020-2032, (US$ Bn)
- Market Size and Forecast, By Country, 2020-2032, (US$ Bn)
  - South Africa
  - Israel
  - GCC Countries
  - Rest of the Middle East & Africa

8. Competitive Landscape

Company Profiles
- Alcatel-Lucent (Nokia Networks)
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Bosch
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- DENSO Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Hitachi Astemo (Showa)
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Hyundai Mobis
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- JTEKT Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Mando Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Mitsubishi Electric Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Nexteer Automotive
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- NSK Global
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Robert Bosch GmbH
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Thyssenkrupp Presta AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Valeo S.A.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- ZF Friedrichshafen AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Zhuzhou Elite Electro-Mechanical Co. Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Research Methodology

References
Research Methodology
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