Vietnam Electric Power Steering Market (2025-2031) Outlook | Share, Trends, Forecast, Revenue, Industry, Analysis, Size, Growth, Value & Companies
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: ETC4576771 | Publication Date: Jul 2023 | Updated Date: Sep 2025 | Product Type: Report | |
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 |
Vietnam Electric Power Steering Market Overview
The Vietnam Electric Power Steering (EPS) market is on an upward trajectory, driven by a growing emphasis on energy efficiency and advancements in automotive technology. Electric Power Steering systems are gaining preference over traditional hydraulic systems due to their fuel efficiency and responsive steering capabilities. As the automotive industry in Vietnam embraces eco-friendly solutions, the Electric Power Steering market is expected to witness continued growth, with automakers incorporating EPS technology in a range of vehicles.
Drivers of the Market
The Vietnam Electric Power Steering market is primarily driven by the quest for improved vehicle handling and fuel efficiency. Electric Power Steering (EPS) systems are known for their energy efficiency and the ability to adapt to different driving conditions. As environmental concerns grow, the demand for fuel-efficient vehicles equipped with EPS rises. Additionally, the convenience of EPS in parking and low-speed maneuvers contributes to its adoption. The increasing number of electric and hybrid vehicles in the market further amplifies the demand for EPS technology.
Challenges of the Market
The Vietnam electric power steering (EPS) market confronts challenges that shape its trajectory within the automotive sector. One significant hurdle is the high initial cost of integrating EPS systems into vehicles, impacting their affordability for a wide range of consumers. Moreover, concerns about the reliability and durability of EPS technology, especially in diverse driving conditions, pose challenges for market acceptance. The market also faces competition from traditional hydraulic power steering systems, which are perceived as more cost-effective by some consumers. Additionally, the need for skilled technicians for maintenance and repair of EPS systems creates challenges in aftermarket services. Striking a balance between cost, performance, and consumer trust is crucial for the sustained growth of the Vietnam electric power steering market.
COVID 19 Impact on the Market
The Electric Power Steering (EPS) market in Vietnam experienced notable disruptions due to the COVID-19 pandemic. The automotive sector faced challenges such as production halts, supply chain disruptions, and changes in consumer behavior, impacting the demand for EPS systems. With economic uncertainties and a cautious consumer base, the EPS market underwent changes in dynamics. Companies within the automotive industry adapted to the new normal, implementing strategies to recover from the setbacks and align with the evolving trends in the post-pandemic era.
Key Players in the Market
As the demand for electric power steering systems grows in Vietnam, key players have emerged as leaders in this sector. JTEKT Corporation, a global automotive components manufacturer, is recognized for its advanced electric power steering solutions. Nexteer Automotive, with a strong global presence, has been actively involved in supplying electric power steering systems to the Vietnamese market. Additionally, TRW Automotive Holdings Corp. has been a notable contributor to the adoption of electric power steering in Vietnam.
Key Highlights of the Report:
- Vietnam Electric Power Steering Market Outlook
- Market Size of Vietnam Electric Power Steering Market, 2024
- Forecast of Vietnam Electric Power Steering Market, 2031
- Historical Data and Forecast of Vietnam Electric Power Steering Revenues & Volume for the Period 2021-2031
- Vietnam Electric Power Steering Market Trend Evolution
- Vietnam Electric Power Steering Market Drivers and Challenges
- Vietnam Electric Power Steering Price Trends
- Vietnam Electric Power Steering Porter's Five Forces
- Vietnam Electric Power Steering Industry Life Cycle
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Type for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By CEPS for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By PEPS for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By REPS for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Mechanism for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Collapsible for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Rigid for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Off-Highway for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Construction for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Agricultural for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Components for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Steering column for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Sensors for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Steering gear for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Mechanical rack and pinion for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Electronic control unit for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Electric motor for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Bearing for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Electric Motor for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Brush motor for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Brushless motor for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Application for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Passenger Cars (PC) for the Period 2021-2031
- Historical Data and Forecast of Vietnam Electric Power Steering Market Revenues & Volume By Commercial Vehicles (CV) for the Period 2021-2031
- Vietnam 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
- Vietnam Electric Power Steering Top Companies Market Share
- Vietnam Electric Power Steering Competitive Benchmarking By Technical and Operational Parameters
- Vietnam Electric Power Steering Company Profiles
- Vietnam Electric Power Steering Key Strategic Recommendations
What are the key trends shaping the Vietnam electric power steering market?
One notable trend in the Vietnam electric power steering market is the increasing preference for advanced technologies such as Bosch's electric power steering system, which offers enhanced fuel efficiency and better performance compared to traditional hydraulic systems. Customers are increasingly opting for vehicles equipped with this technology due to its smoother handling and improved driving experience.
The long-term outlook for the Vietnam electric power steering market is highly positive, driven by factors such as increasing demand for fuel-efficient vehicles, advancements in electric vehicle technology, and the growing trend of connected and autonomous vehicles. Companies like Bosch, JTEKT Corporation, and Nexteer Automotive are investing in research and development to enhance their electric power steering systems, indicating a promising future direction for the market.
Consumers in Vietnam are increasingly valuing comfort and convenience in their vehicles, leading to a growing demand for electric power steering systems. Technologically, companies like Bosch and JTEKT Corporation are focusing on developing more advanced electric power steering solutions with features such as driver assistance and autonomous driving capabilities. On the policy front, the Vietnamese government has been promoting the adoption of electric vehicles to reduce emissions and dependence on fossil fuels, thus creating a favorable environment for the growth of the electric power steering market.
The Vietnam 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 advancements in automotive technologies. Companies like Bosch, JTEKT Corporation, and NSK Ltd. are actively innovating in this space to offer advanced electric power steering solutions that enhance vehicle performance and driving experience. Moreover, with the government's push towards promoting electric vehicles and reducing carbon emissions, the market is anticipated to expand further, creating opportunities for both local and international players to establish a strong presence in Vietnam's automotive sector.
The Vietnam electric power steering market is mainly driven by the increasing demand for fuel-efficient vehicles, technological advancements in electric power steering systems by major players like Bosch and JTEKT, and the growing trend towards autonomous driving. However, challenges such as high initial costs of electric power steering systems, limited awareness among consumers about the benefits, and the presence of traditional hydraulic power steering systems still pose barriers to wider adoption in the market. The dynamics shaping the market include regulatory initiatives promoting the adoption of electric power steering for environmental sustainability and the competitive landscape with companies like ZF Friedrichshafen AG and Nexteer Automotive focusing on innovation and partnerships to gain a competitive edge.
6Wresearch actively monitors the Vietnam 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 Vietnam Electric Power Steering Market, allowing our clients with actionable intelligence and reliable forecasts tailored to emerging regional needs.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
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 Vietnam Electric Power Steering Market Overview |
3.1 Vietnam Country Macro Economic Indicators |
3.2 Vietnam Electric Power Steering Market Revenues & Volume, 2021 & 2031F |
3.3 Vietnam Electric Power Steering Market - Industry Life Cycle |
3.4 Vietnam Electric Power Steering Market - Porter's Five Forces |
3.5 Vietnam Electric Power Steering Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.6 Vietnam Electric Power Steering Market Revenues & Volume Share, By Mechanism, 2021 & 2031F |
3.7 Vietnam Electric Power Steering Market Revenues & Volume Share, By Off-Highway, 2021 & 2031F |
3.8 Vietnam Electric Power Steering Market Revenues & Volume Share, By Components, 2021 & 2031F |
3.9 Vietnam Electric Power Steering Market Revenues & Volume Share, By Electric Motor , 2021 & 2031F |
3.10 Vietnam Electric Power Steering Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 Vietnam 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 Vietnam |
4.2.3 Shift towards electric vehicles |
4.2.4 Government initiatives promoting clean energy solutions |
4.3 Market Restraints |
4.3.1 High initial cost of electric power steering systems |
4.3.2 Limited infrastructure for electric vehicle charging |
4.3.3 Lack of consumer awareness about electric power steering benefits |
4.3.4 Dependence on imported technology and components |
5 Vietnam Electric Power Steering Market Trends |
6 Vietnam Electric Power Steering Market, By Types |
6.1 Vietnam Electric Power Steering Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Vietnam Electric Power Steering Market Revenues & Volume, By Type, 2021-2031F |
6.1.3 Vietnam Electric Power Steering Market Revenues & Volume, By CEPS, 2021-2031F |
6.1.4 Vietnam Electric Power Steering Market Revenues & Volume, By PEPS, 2021-2031F |
6.1.5 Vietnam Electric Power Steering Market Revenues & Volume, By REPS, 2021-2031F |
6.2 Vietnam Electric Power Steering Market, By Mechanism |
6.2.1 Overview and Analysis |
6.2.2 Vietnam Electric Power Steering Market Revenues & Volume, By Collapsible, 2021-2031F |
6.2.3 Vietnam Electric Power Steering Market Revenues & Volume, By Rigid, 2021-2031F |
6.3 Vietnam Electric Power Steering Market, By Off-Highway |
6.3.1 Overview and Analysis |
6.3.2 Vietnam Electric Power Steering Market Revenues & Volume, By Construction, 2021-2031F |
6.3.3 Vietnam Electric Power Steering Market Revenues & Volume, By Agricultural, 2021-2031F |
6.4 Vietnam Electric Power Steering Market, By Components |
6.4.1 Overview and Analysis |
6.4.2 Vietnam Electric Power Steering Market Revenues & Volume, By Steering column, 2021-2031F |
6.4.3 Vietnam Electric Power Steering Market Revenues & Volume, By Sensors, 2021-2031F |
6.4.4 Vietnam Electric Power Steering Market Revenues & Volume, By Steering gear, 2021-2031F |
6.4.5 Vietnam Electric Power Steering Market Revenues & Volume, By Mechanical rack and pinion, 2021-2031F |
6.4.6 Vietnam Electric Power Steering Market Revenues & Volume, By Electronic control unit, 2021-2031F |
6.4.7 Vietnam Electric Power Steering Market Revenues & Volume, By Electric motor, 2021-2031F |
6.5 Vietnam Electric Power Steering Market, By Electric Motor |
6.5.1 Overview and Analysis |
6.5.2 Vietnam Electric Power Steering Market Revenues & Volume, By Brush motor, 2021-2031F |
6.5.3 Vietnam Electric Power Steering Market Revenues & Volume, By Brushless motor, 2021-2031F |
6.6 Vietnam Electric Power Steering Market, By Application |
6.6.1 Overview and Analysis |
6.6.2 Vietnam Electric Power Steering Market Revenues & Volume, By Passenger Cars (PC), 2021-2031F |
6.6.3 Vietnam Electric Power Steering Market Revenues & Volume, By Commercial Vehicles (CV), 2021-2031F |
7 Vietnam Electric Power Steering Market Import-Export Trade Statistics |
7.1 Vietnam Electric Power Steering Market Export to Major Countries |
7.2 Vietnam Electric Power Steering Market Imports from Major Countries |
8 Vietnam Electric Power Steering Market Key Performance Indicators |
8.1 Adoption rate of electric power steering systems in new vehicle models |
8.2 Number of charging stations for electric vehicles in Vietnam |
8.3 Investment in research and development for electric power steering technology |
8.4 Average fuel efficiency improvement in vehicles equipped with electric power steering |
8.5 Percentage of government incentives and subsidies supporting the adoption of electric power steering |
9 Vietnam Electric Power Steering Market - Opportunity Assessment |
9.1 Vietnam Electric Power Steering Market Opportunity Assessment, By Type, 2021 & 2031F |
9.2 Vietnam Electric Power Steering Market Opportunity Assessment, By Mechanism, 2021 & 2031F |
9.3 Vietnam Electric Power Steering Market Opportunity Assessment, By Off-Highway, 2021 & 2031F |
9.4 Vietnam Electric Power Steering Market Opportunity Assessment, By Components, 2021 & 2031F |
9.5 Vietnam Electric Power Steering Market Opportunity Assessment, By Electric Motor , 2021 & 2031F |
9.6 Vietnam Electric Power Steering Market Opportunity Assessment, By Application, 2021 & 2031F |
10 Vietnam Electric Power Steering Market - Competitive Landscape |
10.1 Vietnam Electric Power Steering Market Revenue Share, By Companies, 2024 |
10.2 Vietnam Electric Power Steering Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |
Pricing
- Single User License$ 1,995
- Department License$ 2,400
- Site License$ 3,120
- Global License$ 3,795
Search
Thought Leadership and Analyst Meet
Our Clients
Related Reports
- Germany Breakfast Food Market (2026-2032) | Industry, Share, Growth, Size, Companies, Value, Analysis, Revenue, Trends, Forecast & Outlook
- Australia Briquette Market (2025-2031) | Growth, Size, Revenue, Forecast, Analysis, Trends, Value, Share, Industry & Companies
- Vietnam System Integrator Market (2025-2031) | Size, Companies, Analysis, Industry, Value, Forecast, Growth, Trends, Revenue & Share
- ASEAN and Thailand Brain Health Supplements Market (2025-2031) | Strategy, Consumer Insights, Analysis, Investment Trends, Opportunities, Growth, Size, Share, Industry, Revenue, Segments, Value, Segmentation, Supply, Forecast, Restraints, Outlook, Competition, Drivers, Trends, Demand, Pricing Analysis, Competitive, Strategic Insights, Companies, Challenges
- ASEAN Bearings Market (2025-2031) | Strategy, Consumer Insights, Analysis, Investment Trends, Opportunities, Growth, Size, Share, Industry, Revenue, Segments, Value, Segmentation, Supply, Forecast, Restraints, Outlook, Competition, Drivers, Trends, Demand, Pricing Analysis, Competitive, Strategic Insights, Companies, Challenges
- Europe Flooring Market (2025-2031) | Outlook, Share, Industry, Trends, Forecast, Companies, Revenue, Size, Analysis, Growth & Value
- Saudi Arabia Manlift Market (2025-2031) | Outlook, Size, Growth, Trends, Companies, Industry, Revenue, Value, Share, Forecast & Analysis
- Uganda Excavator, Crane, and Wheel Loaders Market (2025-2031) | Strategy, Consumer Insights, Analysis, Investment Trends, Opportunities, Growth, Size, Share, Industry, Revenue, Segments, Value, Segmentation, Supply, Forecast, Restraints, Outlook, Competition, Drivers, Trends, Demand, Pricing Analysis, Competitive, Strategic Insights, Companies, Challenges
- Rwanda Excavator, Crane, and Wheel Loaders Market (2025-2031) | Strategy, Consumer Insights, Analysis, Investment Trends, Opportunities, Growth, Size, Share, Industry, Revenue, Segments, Value, Segmentation, Supply, Forecast, Restraints, Outlook, Competition, Drivers, Trends, Demand, Pricing Analysis, Competitive, Strategic Insights, Companies, Challenges
- Kenya Excavator, Crane, and Wheel Loaders Market (2025-2031) | Strategy, Consumer Insights, Analysis, Investment Trends, Opportunities, Growth, Size, Share, Industry, Revenue, Segments, Value, Segmentation, Supply, Forecast, Restraints, Outlook, Competition, Drivers, Trends, Demand, Pricing Analysis, Competitive, Strategic Insights, Companies, Challenges
Industry Events and Analyst Meet
Startup Hub Expo 2025
Automechanika Dubai 2024
Mobile India Expo 2025
Media Expo New Delhi 2025
Consumer Electronics World Expo 2025
Whitepaper
- Middle East & Africa Commercial Security Market Click here to view more.
- Middle East & Africa Fire Safety Systems & Equipment Market Click here to view more.
- GCC Drone Market Click here to view more.
- Middle East Lighting Fixture Market Click here to view more.
- GCC Physical & Perimeter Security Market Click here to view more.
6WResearch In News
- Doha a strategic location for EV manufacturing hub: IPA Qatar
- Demand for luxury TVs surging in the GCC, says Samsung
- Empowering Growth: The Thriving Journey of Bangladesh’s Cable Industry
- Demand for luxury TVs surging in the GCC, says Samsung
- Video call with a traditional healer? Once unthinkable, it’s now common in South Africa
- Intelligent Buildings To Smooth GCC’s Path To Net Zero
