Product Code: ETC13242687 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | Author: Bhawna Singh | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Automotive Electric Power Steering Market was valued at USD 22.3 Billion in 2024 and is expected to reach USD 47.6 Billion by 2031, growing at a compound annual growth rate of 15.87% during the forecast period (2025-2031).
The Global Automotive Electric Power Steering Market is experiencing significant growth, driven by factors such as increasing demand for fuel-efficient vehicles, technological advancements in the automotive industry, and the rising trend towards electric vehicles. Electric power steering systems offer improved fuel efficiency, enhanced driving experience, and reduced maintenance costs compared to traditional hydraulic power steering systems. Key players in the market are focused on developing advanced electric power steering systems that integrate features like lane-keeping assist, adaptive cruise control, and autonomous driving capabilities. Asia-Pacific region dominates the market due to the presence of major automotive manufacturers, while North America and Europe also hold substantial market shares. The market is expected to continue its growth trajectory in the coming years as automakers increasingly adopt electric power steering systems to meet consumer demand for more efficient and technologically advanced vehicles.
The Global Automotive Electric Power Steering Market is witnessing significant growth, driven by the increasing demand for fuel-efficient vehicles and the integration of advanced technologies in automobiles. Key trends include the rising popularity of electric power steering systems over traditional hydraulic systems due to their improved fuel efficiency and enhanced performance. The market is also experiencing a shift towards steer-by-wire technology, offering greater design flexibility and control customization. Opportunities in the market lie in the growing adoption of electric vehicles and autonomous driving technologies, which require advanced steering systems for optimal performance and safety. Additionally, the increasing focus on driver assistance features and vehicle connectivity is expected to drive further growth in the automotive electric power steering market.
The Global Automotive Electric Power Steering Market faces several challenges, including increasing competition from traditional hydraulic power steering systems, concerns over cybersecurity threats due to the integration of advanced technology, and the need for continuous innovation to meet evolving consumer demands for improved performance and efficiency. Additionally, the high initial cost of electric power steering systems compared to hydraulic systems poses a challenge for widespread adoption in certain regions. Furthermore, the complexity of these systems requires specialized training for maintenance and repair, which can be a barrier for smaller automotive service providers. Overall, the market must navigate these challenges while also addressing regulatory requirements and sustainability concerns to ensure long-term growth and success.
The Global Automotive Electric Power Steering Market is primarily driven by the increasing demand for fuel-efficient vehicles due to stringent emissions regulations worldwide. Electric power steering systems offer improved fuel efficiency compared to traditional hydraulic systems by reducing the power consumption from the engine. Additionally, the growing trend towards advanced driver assistance systems (ADAS) and autonomous vehicles is driving the adoption of electric power steering technology for its compatibility with these systems. The rising preference for electric vehicles further fuels the demand for electric power steering systems as they are more compatible with electric drivetrains. Moreover, the superior performance, enhanced safety features, and overall driving experience offered by electric power steering systems are also contributing to the market growth.
Government policies related to the Global Automotive Electric Power Steering Market focus on promoting the adoption of electric power steering systems to enhance fuel efficiency, reduce emissions, and improve overall vehicle safety. Regulations such as fuel economy standards and emission targets are driving automakers to implement electric power steering systems in their vehicles. Additionally, stringent safety regulations mandating the inclusion of advanced driver assistance systems (ADAS) are further stimulating the demand for electric power steering technology. Governments worldwide are also providing incentives and subsidies to encourage the development and deployment of electric vehicles, indirectly boosting the demand for electric power steering systems. Overall, government policies are playing a crucial role in shaping the growth of the Global Automotive Electric Power Steering Market by promoting sustainable and technologically advanced solutions in the automotive industry.
The Global Automotive Electric Power Steering Market is poised for significant growth in the coming years due to various factors such as increasing vehicle production, rising consumer demand for advanced safety features, and the shift towards electric vehicles. Electric power steering systems offer improved fuel efficiency, enhanced driving experience, and enable integration with advanced driver assistance systems. Additionally, stringent government regulations aimed at reducing emissions and improving fuel efficiency are driving the adoption of electric power steering systems in vehicles. As automotive manufacturers continue to focus on innovation and technology advancements, the market for automotive electric power steering is expected to expand further, with Asia Pacific emerging as a key growth region due to the rapid expansion of the automotive industry in countries like China and India.
In the Global Automotive Electric Power Steering Market, Asia is expected to witness significant growth due to the increasing production and sales of electric vehicles in countries like China and Japan. North America is also a key region, driven by the presence of major automotive manufacturers investing in advanced steering technologies. In Europe, stringent emission regulations are pushing automakers to adopt electric power steering systems to improve fuel efficiency. The Middle East and Africa region is experiencing a gradual shift towards electric power steering systems, influenced by rising awareness of the benefits of electric vehicles. Latin America is showing promising growth opportunities with a growing automotive industry and increasing consumer demand for vehicles equipped with advanced safety and technology features.
Global Automotive Electric Power Steering Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Automotive Electric Power Steering Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Automotive Electric Power Steering Market Revenues & Volume, 2021 & 2031F |
3.3 Global Automotive Electric Power Steering Market - Industry Life Cycle |
3.4 Global Automotive Electric Power Steering Market - Porter's Five Forces |
3.5 Global Automotive Electric Power Steering Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Automotive Electric Power Steering Market Revenues & Volume Share, By Motor Assist, 2021 & 2031F |
3.7 Global Automotive Electric Power Steering Market Revenues & Volume Share, By Technology, 2021 & 2031F |
3.8 Global Automotive Electric Power Steering Market Revenues & Volume Share, By Component, 2021 & 2031F |
3.9 Global Automotive Electric Power Steering Market Revenues & Volume Share, By Vehicle Type, 2021 & 2031F |
4 Global Automotive Electric Power Steering Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Automotive Electric Power Steering Market Trends |
6 Global Automotive Electric Power Steering Market, 2021 - 2031 |
6.1 Global Automotive Electric Power Steering Market, Revenues & Volume, By Motor Assist, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Automotive Electric Power Steering Market, Revenues & Volume, By Column Assist, 2021 - 2031 |
6.1.3 Global Automotive Electric Power Steering Market, Revenues & Volume, By Pinion Assist, 2021 - 2031 |
6.1.4 Global Automotive Electric Power Steering Market, Revenues & Volume, By Rack Assist, 2021 - 2031 |
6.2 Global Automotive Electric Power Steering Market, Revenues & Volume, By Technology, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Automotive Electric Power Steering Market, Revenues & Volume, By Conventional EPS, 2021 - 2031 |
6.2.3 Global Automotive Electric Power Steering Market, Revenues & Volume, By EPS with ADAS, 2021 - 2031 |
6.3 Global Automotive Electric Power Steering Market, Revenues & Volume, By Component, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Automotive Electric Power Steering Market, Revenues & Volume, By EPS Control Module, 2021 - 2031 |
6.3.3 Global Automotive Electric Power Steering Market, Revenues & Volume, By Electric Motor, 2021 - 2031 |
6.3.4 Global Automotive Electric Power Steering Market, Revenues & Volume, By Rack & Pinion, 2021 - 2031 |
6.3.5 Global Automotive Electric Power Steering Market, Revenues & Volume, By Steering Column, 2021 - 2031 |
6.4 Global Automotive Electric Power Steering Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Automotive Electric Power Steering Market, Revenues & Volume, By Passenger Vehicle, 2021 - 2031 |
6.4.3 Global Automotive Electric Power Steering Market, Revenues & Volume, By Utility Vehicles, 2021 - 2031 |
6.4.4 Global Automotive Electric Power Steering Market, Revenues & Volume, By Light Commercial Vehicles, 2021 - 2031 |
6.4.5 Global Automotive Electric Power Steering Market, Revenues & Volume, By Heavy Duty Trucks, 2021 - 2031 |
6.4.6 Global Automotive Electric Power Steering Market, Revenues & Volume, By Buses & Coaches, 2021 - 2031 |
7 North America Automotive Electric Power Steering Market, Overview & Analysis |
7.1 North America Automotive Electric Power Steering Market Revenues & Volume, 2021 - 2031 |
7.2 North America Automotive Electric Power Steering Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Automotive Electric Power Steering Market, Revenues & Volume, By Motor Assist, 2021 - 2031 |
7.4 North America Automotive Electric Power Steering Market, Revenues & Volume, By Technology, 2021 - 2031 |
7.5 North America Automotive Electric Power Steering Market, Revenues & Volume, By Component, 2021 - 2031 |
7.6 North America Automotive Electric Power Steering Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
8 Latin America (LATAM) Automotive Electric Power Steering Market, Overview & Analysis |
8.1 Latin America (LATAM) Automotive Electric Power Steering Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Automotive Electric Power Steering Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Automotive Electric Power Steering Market, Revenues & Volume, By Motor Assist, 2021 - 2031 |
8.4 Latin America (LATAM) Automotive Electric Power Steering Market, Revenues & Volume, By Technology, 2021 - 2031 |
8.5 Latin America (LATAM) Automotive Electric Power Steering Market, Revenues & Volume, By Component, 2021 - 2031 |
8.6 Latin America (LATAM) Automotive Electric Power Steering Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
9 Asia Automotive Electric Power Steering Market, Overview & Analysis |
9.1 Asia Automotive Electric Power Steering Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Automotive Electric Power Steering Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Automotive Electric Power Steering Market, Revenues & Volume, By Motor Assist, 2021 - 2031 |
9.4 Asia Automotive Electric Power Steering Market, Revenues & Volume, By Technology, 2021 - 2031 |
9.5 Asia Automotive Electric Power Steering Market, Revenues & Volume, By Component, 2021 - 2031 |
9.6 Asia Automotive Electric Power Steering Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
10 Africa Automotive Electric Power Steering Market, Overview & Analysis |
10.1 Africa Automotive Electric Power Steering Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Automotive Electric Power Steering Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Automotive Electric Power Steering Market, Revenues & Volume, By Motor Assist, 2021 - 2031 |
10.4 Africa Automotive Electric Power Steering Market, Revenues & Volume, By Technology, 2021 - 2031 |
10.5 Africa Automotive Electric Power Steering Market, Revenues & Volume, By Component, 2021 - 2031 |
10.6 Africa Automotive Electric Power Steering Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
11 Europe Automotive Electric Power Steering Market, Overview & Analysis |
11.1 Europe Automotive Electric Power Steering Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Automotive Electric Power Steering Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Automotive Electric Power Steering Market, Revenues & Volume, By Motor Assist, 2021 - 2031 |
11.4 Europe Automotive Electric Power Steering Market, Revenues & Volume, By Technology, 2021 - 2031 |
11.5 Europe Automotive Electric Power Steering Market, Revenues & Volume, By Component, 2021 - 2031 |
11.6 Europe Automotive Electric Power Steering Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
12 Middle East Automotive Electric Power Steering Market, Overview & Analysis |
12.1 Middle East Automotive Electric Power Steering Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Automotive Electric Power Steering Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Automotive Electric Power Steering Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Automotive Electric Power Steering Market, Revenues & Volume, By Motor Assist, 2021 - 2031 |
12.4 Middle East Automotive Electric Power Steering Market, Revenues & Volume, By Technology, 2021 - 2031 |
12.5 Middle East Automotive Electric Power Steering Market, Revenues & Volume, By Component, 2021 - 2031 |
12.6 Middle East Automotive Electric Power Steering Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
13 Global Automotive Electric Power Steering Market Key Performance Indicators |
14 Global Automotive Electric Power Steering Market - Export/Import By Countries Assessment |
15 Global Automotive Electric Power Steering Market - Opportunity Assessment |
15.1 Global Automotive Electric Power Steering Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Automotive Electric Power Steering Market Opportunity Assessment, By Motor Assist, 2021 & 2031F |
15.3 Global Automotive Electric Power Steering Market Opportunity Assessment, By Technology, 2021 & 2031F |
15.4 Global Automotive Electric Power Steering Market Opportunity Assessment, By Component, 2021 & 2031F |
15.5 Global Automotive Electric Power Steering Market Opportunity Assessment, By Vehicle Type, 2021 & 2031F |
16 Global Automotive Electric Power Steering Market - Competitive Landscape |
16.1 Global Automotive Electric Power Steering Market Revenue Share, By Companies, 2024 |
16.2 Global Automotive Electric Power Steering Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |