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Global Electronic Power Steering Market Poised For Growth Amid Rising Demand For Fuel Efficiency & Safety Features
(MENAFN- EIN Presswire)
Market Outlook & Projections
The global electronic power steering market size reached USD 27,926.6 million in 2024. Worldwide demand for electronic power steering recorded Y-o-Y growth of 4.7% in 2024, and thus, the market is expected to reach USD 29,378.8 million in 2025. Over the projection period (2025 to 2035), global electronic power steering sales are predicted to rise swiftly at 5.2% CAGR and climb to a market size of USD 48,774.3 million by 2035-end.
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Unlock Key Insights: Must-Know Takeaways
The EPS market is experiencing rapid growth due to the rising demand for lightweight and energy-efficient steering systems. As automotive manufacturers strive to meet stringent fuel economy and emission regulations, EPS is emerging as a preferred steering solution. Additionally, the integration of EPS with ADAS technologies, such as lane-keeping assist and automated parking, is driving innovation in the market. Moreover, the growing trend of electrification in the automotive sector is further propelling the adoption of EPS systems, as they enhance battery efficiency and contribute to the overall vehicle performance.
Driving the Future: Essential Market Growth Drivers
. Increasing Demand for Fuel-Efficient Vehicles: EPS systems reduce fuel consumption by eliminating the need for a power-hungry hydraulic pump, making vehicles more energy-efficient.
. Growth in Electric and Hybrid Vehicles: As the adoption of EVs rises, the demand for EPS is increasing due to its compatibility with electric drivetrains and its ability to improve energy efficiency.
. Integration with ADAS & Autonomous Driving Technologies: Advanced driver assistance features rely on EPS for precise steering control, enhancing vehicle safety and automation capabilities.
. Stringent Emission Regulations: Governments worldwide are implementing stricter emission norms, encouraging automakers to adopt EPS for its contribution to fuel efficiency and reduced carbon emissions.
. Rise in Vehicle Production & Technological Advancements: Increasing vehicle production, especially in emerging markets, along with advancements in sensor technology, is fostering EPS market growth.
Comprehensive Industry Report: A Full Market Analysis
Key Applications
. Passenger Vehicles: EPS enhances driving comfort, fuel efficiency, and integration with ADAS features in modern cars.
. Commercial Vehicles: Trucks and buses benefit from EPS by improving maneuverability and reducing driver fatigue.
. Electric & Hybrid Vehicles: EPS plays a critical role in improving battery efficiency and optimizing steering control in EVs.
. Autonomous Vehicles: Self-driving vehicles require advanced EPS systems for precision steering and automated lane control.
Regional Outlook
. North America and Europe remain dominant markets for EPS, driven by stringent fuel efficiency regulations, a high adoption rate of ADAS technologies, and strong automotive manufacturing capabilities.
. Asia-Pacific is expected to witness the fastest growth, with increasing vehicle production in China, India, Japan, and South Korea, coupled with rising EV adoption.
. Latin America, the Middle East, and Africa are projected to experience steady growth due to expanding urbanization, infrastructure development, and growing demand for modern vehicles.
Unlock Key Insights: Automotive Chassis System Industry Analysis
Key Players
. JTEKT Corporation
. Nexteer Automotive Group Ltd.
. Robert Bosch GmbH
. ZF Friedrichshafen AG
. NSK Ltd.
. ThyssenKrupp AG
. Mando Corporation
. Hyundai Mobis Co., Ltd.
. Showa Corporation
. Delphi Technologies
Key Segmentations
By Vehicle Type:
. Passenger Vehicles
. Commercial Vehicles
. Electric & Hybrid Vehicles
By EPS Type:
. Column Assist EPS (C-EPS)
. Pinion Assist EPS (P-EPS)
. Rack Assist EPS (R-EPS)
. Integrated EPS (I-EPS)
By Component:
. Steering Column
. Steering Motor
. Sensors
. Electronic Control Unit (ECU)
. Others
By Application:
. Passenger Cars
. Light Commercial Vehicles (LCVs)
. Heavy Commercial Vehicles (HCVs)
By Sales Channel:
. OEM
. Aftermarket
By Region:
. North America
. Europe
. Asia-Pacific
. Latin America
. Middle East & Africa
Drive the Future: Trends & Innovations in Automotive Chassis Systems
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Electronic Power Steering (EPS) Market
Electronic Power Steering (EPS) Regional Market
The Electronic Power Steering Market is growing due to increasing demand for fuel efficiency, safety, and advanced driver assistance systems (ADAS).
NEWARK, DE, UNITED STATES, February 14, 2025 /EINPresswire / -- The global Electronic Power Steering (EPS) market is set for substantial expansion as the automotive industry shifts toward more fuel-efficient and technologically advanced vehicles. EPS systems, which replace traditional hydraulic steering with an electronically controlled system, are becoming a key component in modern vehicles due to their efficiency, lightweight design, and integration with advanced driver assistance systems (ADAS). The increasing adoption of electric and hybrid vehicles is further fueling the demand for EPS, given its crucial role in enhancing energy efficiency and vehicle performance.Market Outlook & Projections
The global electronic power steering market size reached USD 27,926.6 million in 2024. Worldwide demand for electronic power steering recorded Y-o-Y growth of 4.7% in 2024, and thus, the market is expected to reach USD 29,378.8 million in 2025. Over the projection period (2025 to 2035), global electronic power steering sales are predicted to rise swiftly at 5.2% CAGR and climb to a market size of USD 48,774.3 million by 2035-end.
Get Ahead with Our Report: Request Your Sample Now!
#5245502d47422d31393632
Unlock Key Insights: Must-Know Takeaways
The EPS market is experiencing rapid growth due to the rising demand for lightweight and energy-efficient steering systems. As automotive manufacturers strive to meet stringent fuel economy and emission regulations, EPS is emerging as a preferred steering solution. Additionally, the integration of EPS with ADAS technologies, such as lane-keeping assist and automated parking, is driving innovation in the market. Moreover, the growing trend of electrification in the automotive sector is further propelling the adoption of EPS systems, as they enhance battery efficiency and contribute to the overall vehicle performance.
Driving the Future: Essential Market Growth Drivers
. Increasing Demand for Fuel-Efficient Vehicles: EPS systems reduce fuel consumption by eliminating the need for a power-hungry hydraulic pump, making vehicles more energy-efficient.
. Growth in Electric and Hybrid Vehicles: As the adoption of EVs rises, the demand for EPS is increasing due to its compatibility with electric drivetrains and its ability to improve energy efficiency.
. Integration with ADAS & Autonomous Driving Technologies: Advanced driver assistance features rely on EPS for precise steering control, enhancing vehicle safety and automation capabilities.
. Stringent Emission Regulations: Governments worldwide are implementing stricter emission norms, encouraging automakers to adopt EPS for its contribution to fuel efficiency and reduced carbon emissions.
. Rise in Vehicle Production & Technological Advancements: Increasing vehicle production, especially in emerging markets, along with advancements in sensor technology, is fostering EPS market growth.
Comprehensive Industry Report: A Full Market Analysis
Key Applications
. Passenger Vehicles: EPS enhances driving comfort, fuel efficiency, and integration with ADAS features in modern cars.
. Commercial Vehicles: Trucks and buses benefit from EPS by improving maneuverability and reducing driver fatigue.
. Electric & Hybrid Vehicles: EPS plays a critical role in improving battery efficiency and optimizing steering control in EVs.
. Autonomous Vehicles: Self-driving vehicles require advanced EPS systems for precision steering and automated lane control.
Regional Outlook
. North America and Europe remain dominant markets for EPS, driven by stringent fuel efficiency regulations, a high adoption rate of ADAS technologies, and strong automotive manufacturing capabilities.
. Asia-Pacific is expected to witness the fastest growth, with increasing vehicle production in China, India, Japan, and South Korea, coupled with rising EV adoption.
. Latin America, the Middle East, and Africa are projected to experience steady growth due to expanding urbanization, infrastructure development, and growing demand for modern vehicles.
Unlock Key Insights: Automotive Chassis System Industry Analysis
Key Players
. JTEKT Corporation
. Nexteer Automotive Group Ltd.
. Robert Bosch GmbH
. ZF Friedrichshafen AG
. NSK Ltd.
. ThyssenKrupp AG
. Mando Corporation
. Hyundai Mobis Co., Ltd.
. Showa Corporation
. Delphi Technologies
Key Segmentations
By Vehicle Type:
. Passenger Vehicles
. Commercial Vehicles
. Electric & Hybrid Vehicles
By EPS Type:
. Column Assist EPS (C-EPS)
. Pinion Assist EPS (P-EPS)
. Rack Assist EPS (R-EPS)
. Integrated EPS (I-EPS)
By Component:
. Steering Column
. Steering Motor
. Sensors
. Electronic Control Unit (ECU)
. Others
By Application:
. Passenger Cars
. Light Commercial Vehicles (LCVs)
. Heavy Commercial Vehicles (HCVs)
By Sales Channel:
. OEM
. Aftermarket
By Region:
. North America
. Europe
. Asia-Pacific
. Latin America
. Middle East & Africa
Drive the Future: Trends & Innovations in Automotive Chassis Systems
Automotive Suspension System Market Size, Trends & Forecast 2025-2035
Fifth Wheel Coupling Market Size, Trends & Forecast 2025 to 2035
Automotive Composite Leaf Springs Market Size & Forecast 2025-2035
Automotive Connecting Rod Market Size & Forecast 2025-2035
Rail Wheel & Axle Market Size & Growth 2025-2035
Ankush Nikam
Future Market Insights, Inc.
+ +91 90966 84197
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Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
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