Philippines Electric Power Steering Market (2025-2031) Outlook | Revenue, Share, Size, Analysis, Trends, Companies, Forecast, Industry, Value, Growth
Market Forecast By Type (CEPS, PEPS, REPS), By Mechanism (Collapsible, Rigid), By Off-Highway (Construction, Agricultural), By Components (Steering column, Sensors, Steering gear, Mechanical rack and pinion, Electronic control unit, Electric motor, Bearing), By Electric Motor (Brush motor, Brushless motor), By Application (Passenger Cars (PC), Commercial Vehicles (CV)) And Competitive Landscape
| Product Code: ETC4576770 | Publication Date: Jul 2023 | Updated Date: Nov 2025 | Product Type: Report | |
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 |
Philippines Electric Power Steering Market Top 5 Importing Countries and Market Competition (HHI) Analysis
The Philippines saw a significant rise in electric power steering import shipments in 2024, with top exporters including China, Serbia, Germany, Vietnam, and Thailand. Despite the growing competition, the market remained moderately concentrated, indicating a healthy level of competition. The compound annual growth rate (CAGR) from 2020 to 2024 stood at 6.41%, reflecting a steady upward trend. Notably, the growth rate in 2024 surged to an impressive 97.11%, underlining the increasing demand and market potential for electric power steering in the Philippines.
Philippines Electric Power Steering Market Overview
Electric power steering (EPS) systems are replacing traditional hydraulic systems in many vehicles. The Philippines` EPS market is expected to grow, driven by the need for more efficient and fuel-saving steering systems, in addition to the growing demand
Drivers of the Markets
The growth of the Philippines Electric Power Steering (EPS) market can be attributed to several factors, with fuel efficiency and driving comfort topping the list. As more Filipinos are seeking vehicles that provide a smooth and effortless driving experie
Challenges of the Markets
A primary challenge for the electric power steering market is ensuring affordability and reliability. While electric power steering systems are more efficient and offer better control, their cost and maintenance can be barriers for entry, especially in a
COVID-19 Impact on the Market
Electric power steering systems are a crucial component of modern vehicles. The pandemic could have disrupted the production of these systems, impacting vehicle manufacturing. Consumer demand may also have been influenced by economic uncertainties, affect
Key Players of the market
In the Philippines electric power steering market, companies like Bosch Philippines, NSK Philippines, and JTEKT Philippines are prominent players. These firms excel in providing electric power steering systems that enhance steering precision and efficienc
Key Highlights of the Report:
- Philippines Electric Power Steering Market Outlook
- Market Size of Philippines Electric Power Steering Market, 2024
- Forecast of Philippines Electric Power Steering Market, 2031
- Historical Data and Forecast of Philippines Electric Power Steering Revenues & Volume for the Period 2021-2031
- Philippines Electric Power Steering Market Trend Evolution
- Philippines Electric Power Steering Market Drivers and Challenges
- Philippines Electric Power Steering Price Trends
- Philippines Electric Power Steering Porter's Five Forces
- Philippines Electric Power Steering Industry Life Cycle
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Type for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By CEPS for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By PEPS for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By REPS for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Mechanism for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Collapsible for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Rigid for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Off-Highway for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Construction for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Agricultural for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Components for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Steering column for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Sensors for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Steering gear for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Mechanical rack and pinion for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Electronic control unit for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Electric motor for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Bearing for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Electric Motor for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Brush motor for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Brushless motor for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Application for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Passenger Cars (PC) for the Period 2021-2031
- Historical Data and Forecast of Philippines Electric Power Steering Market Revenues & Volume By Commercial Vehicles (CV) for the Period 2021-2031
- Philippines Electric Power Steering Import Export Trade Statistics
- Market Opportunity Assessment By Type
- Market Opportunity Assessment By Mechanism
- Market Opportunity Assessment By Off-Highway
- Market Opportunity Assessment By Components
- Market Opportunity Assessment By Electric Motor
- Market Opportunity Assessment By Application
- Philippines Electric Power Steering Top Companies Market Share
- Philippines Electric Power Steering Competitive Benchmarking By Technical and Operational Parameters
- Philippines Electric Power Steering Company Profiles
- Philippines Electric Power Steering Key Strategic Recommendations
What are the market opportunities for electric power steering systems in the Philippines?
Electric power steering systems in the Philippines present significant growth opportunities for companies like Bosch, ZF Friedrichshafen AG, and NSK Ltd. due to increasing demand for fuel-efficient and technologically advanced vehicles in the region.
The Philippines electric power steering market is expected to witness significant growth in the coming years, driven by factors such as increasing demand for fuel-efficient vehicles and the adoption of advanced steering technologies by major automotive manufacturers like Toyota, Honda, and Mitsubishi.
Major players in the Philippines electric power steering market include companies like Bosch, JTEKT Corporation, and NSK Ltd. Bosch is known for its advanced electric power steering systems that focus on efficiency and precision. JTEKT Corporation offers a wide range of electric power steering solutions catering to various vehicle segments. NSK Ltd. emphasizes innovation and reliability in its electric power steering technologies, positioning itself as a trusted supplier in the market.
In the Philippines electric power steering market, consumers are increasingly demanding more advanced features such as lane-keeping assist and adaptive cruise control. Technology-wise, companies like Bosch and ZF are developing next-generation electric power steering systems that offer enhanced efficiency and performance. On the policy front, the government is encouraging the adoption of electric vehicles through incentives and regulations to reduce carbon emissions and promote sustainable transportation practices.
The increasing adoption of electric vehicles (EVs) in the Philippines, such as Nissan Leaf and Tesla Model 3, is driving the demand for electric power steering systems as they offer better fuel efficiency and performance compared to traditional hydraulic systems. Additionally, the growing focus on vehicle safety and the integration of advanced driver-assistance systems (ADAS) in modern cars, like those from Toyota and Honda, has further propelled the market growth as electric power steering plays a crucial role in enabling features such as lane-keeping assistance and automated parking.
6Wresearch actively monitors the Philippines Electric Power Steering Market and publishes its comprehensive annual report, highlighting emerging trends, growth drivers, revenue analysis, and forecast outlook. Our insights help businesses to make data-backed strategic decisions with ongoing market dynamics. Our analysts track relevent industries related to the Philippines Electric Power Steering Market, allowing our clients with actionable intelligence and reliable forecasts tailored to emerging regional needs.
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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 Philippines Electric Power Steering Market Overview |
3.1 Philippines Country Macro Economic Indicators |
3.2 Philippines Electric Power Steering Market Revenues & Volume, 2021 & 2031F |
3.3 Philippines Electric Power Steering Market - Industry Life Cycle |
3.4 Philippines Electric Power Steering Market - Porter's Five Forces |
3.5 Philippines Electric Power Steering Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.6 Philippines Electric Power Steering Market Revenues & Volume Share, By Mechanism, 2021 & 2031F |
3.7 Philippines Electric Power Steering Market Revenues & Volume Share, By Off-Highway, 2021 & 2031F |
3.8 Philippines Electric Power Steering Market Revenues & Volume Share, By Components, 2021 & 2031F |
3.9 Philippines Electric Power Steering Market Revenues & Volume Share, By Electric Motor , 2021 & 2031F |
3.10 Philippines Electric Power Steering Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 Philippines Electric Power Steering Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for fuel-efficient vehicles |
4.2.2 Growing automotive industry in the Philippines |
4.2.3 Rising consumer preference for advanced technology in vehicles |
4.3 Market Restraints |
4.3.1 High initial investment cost for electric power steering systems |
4.3.2 Limited infrastructure for electric vehicle charging stations |
4.3.3 Lack of awareness and understanding about electric power steering technology |
5 Philippines Electric Power Steering Market Trends |
6 Philippines Electric Power Steering Market, By Types |
6.1 Philippines Electric Power Steering Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Philippines Electric Power Steering Market Revenues & Volume, By Type, 2021-2031F |
6.1.3 Philippines Electric Power Steering Market Revenues & Volume, By CEPS, 2021-2031F |
6.1.4 Philippines Electric Power Steering Market Revenues & Volume, By PEPS, 2021-2031F |
6.1.5 Philippines Electric Power Steering Market Revenues & Volume, By REPS, 2021-2031F |
6.2 Philippines Electric Power Steering Market, By Mechanism |
6.2.1 Overview and Analysis |
6.2.2 Philippines Electric Power Steering Market Revenues & Volume, By Collapsible, 2021-2031F |
6.2.3 Philippines Electric Power Steering Market Revenues & Volume, By Rigid, 2021-2031F |
6.3 Philippines Electric Power Steering Market, By Off-Highway |
6.3.1 Overview and Analysis |
6.3.2 Philippines Electric Power Steering Market Revenues & Volume, By Construction, 2021-2031F |
6.3.3 Philippines Electric Power Steering Market Revenues & Volume, By Agricultural, 2021-2031F |
6.4 Philippines Electric Power Steering Market, By Components |
6.4.1 Overview and Analysis |
6.4.2 Philippines Electric Power Steering Market Revenues & Volume, By Steering column, 2021-2031F |
6.4.3 Philippines Electric Power Steering Market Revenues & Volume, By Sensors, 2021-2031F |
6.4.4 Philippines Electric Power Steering Market Revenues & Volume, By Steering gear, 2021-2031F |
6.4.5 Philippines Electric Power Steering Market Revenues & Volume, By Mechanical rack and pinion, 2021-2031F |
6.4.6 Philippines Electric Power Steering Market Revenues & Volume, By Electronic control unit, 2021-2031F |
6.4.7 Philippines Electric Power Steering Market Revenues & Volume, By Electric motor, 2021-2031F |
6.5 Philippines Electric Power Steering Market, By Electric Motor |
6.5.1 Overview and Analysis |
6.5.2 Philippines Electric Power Steering Market Revenues & Volume, By Brush motor, 2021-2031F |
6.5.3 Philippines Electric Power Steering Market Revenues & Volume, By Brushless motor, 2021-2031F |
6.6 Philippines Electric Power Steering Market, By Application |
6.6.1 Overview and Analysis |
6.6.2 Philippines Electric Power Steering Market Revenues & Volume, By Passenger Cars (PC), 2021-2031F |
6.6.3 Philippines Electric Power Steering Market Revenues & Volume, By Commercial Vehicles (CV), 2021-2031F |
7 Philippines Electric Power Steering Market Import-Export Trade Statistics |
7.1 Philippines Electric Power Steering Market Export to Major Countries |
7.2 Philippines Electric Power Steering Market Imports from Major Countries |
8 Philippines Electric Power Steering Market Key Performance Indicators |
8.1 Adoption rate of electric power steering systems in new vehicle models |
8.2 Number of electric power steering system manufacturers entering the Philippines market |
8.3 Average fuel efficiency improvement in vehicles equipped with electric power steering |
9 Philippines Electric Power Steering Market - Opportunity Assessment |
9.1 Philippines Electric Power Steering Market Opportunity Assessment, By Type, 2021 & 2031F |
9.2 Philippines Electric Power Steering Market Opportunity Assessment, By Mechanism, 2021 & 2031F |
9.3 Philippines Electric Power Steering Market Opportunity Assessment, By Off-Highway, 2021 & 2031F |
9.4 Philippines Electric Power Steering Market Opportunity Assessment, By Components, 2021 & 2031F |
9.5 Philippines Electric Power Steering Market Opportunity Assessment, By Electric Motor , 2021 & 2031F |
9.6 Philippines Electric Power Steering Market Opportunity Assessment, By Application, 2021 & 2031F |
10 Philippines Electric Power Steering Market - Competitive Landscape |
10.1 Philippines Electric Power Steering Market Revenue Share, By Companies, 2024 |
10.2 Philippines Electric Power Steering Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |
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