| Product Code: ETC13217558 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Dhaval Chaurasia | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Automotive Power Steering Motor Market was valued at USD 5.7 Billion in 2024 and is expected to reach USD 8.5 Billion by 2031, growing at a compound annual growth rate of 6.10% during the forecast period (2025-2031).
The Global Automotive Power Steering Motor Market is experiencing steady growth, driven by increasing demand for advanced steering systems in vehicles. Factors such as improved vehicle handling, enhanced driving experience, and the growing trend towards electric power steering systems are fueling market expansion. The market is characterized by the presence of key players offering a wide range of power steering motor solutions to meet varying automotive requirements. Technological advancements, such as the integration of sensors and control units for better performance and efficiency, are further propelling market growth. With a focus on innovation and product development, key market players are investing in research and development activities to stay competitive in the evolving automotive industry landscape. The market is expected to continue its upward trajectory, supported by the increasing adoption of electric vehicles and the emphasis on driver-assist technologies.
The Global Automotive Power Steering Motor Market is witnessing a shift towards electric power steering systems due to their efficiency and improved fuel economy. With the increasing emphasis on vehicle electrification and automation, there is a growing demand for advanced power steering motors that offer better control and responsiveness. Additionally, the integration of sensors and advanced technology in power steering systems presents opportunities for enhancing driver assistance features and improving overall vehicle safety. As automotive manufacturers strive to meet stringent emissions regulations and consumer demand for enhanced driving experiences, the market is poised for further growth and innovation in the development of power steering motors that are energy-efficient, reliable, and capable of supporting future autonomous driving technologies.
The Global Automotive Power Steering Motor Market faces several challenges, including increasing competition among key players leading to pricing pressure, stringent government regulations focusing on reducing carbon emissions and increasing fuel efficiency, and the need for continuous technological advancements to meet evolving consumer demands for advanced driver assistance systems. Additionally, the rise of electric vehicles poses a challenge as it requires a shift towards electric power steering systems, which may impact the demand for traditional hydraulic power steering motors. Market volatility, supply chain disruptions, and the ongoing global semiconductor shortage further add to the challenges faced by the industry, requiring companies to adapt quickly and innovate to stay competitive in the market.
The Global Automotive Power Steering Motor Market is primarily driven by the increasing demand for electric power steering systems in modern vehicles due to their efficiency, reduced fuel consumption, and enhanced driving experience. Additionally, stringent government regulations focusing on fuel efficiency and emission reduction are pushing automakers to adopt electric power steering systems that are more environmentally friendly compared to traditional hydraulic systems. The growing trend towards autonomous and connected vehicles is also contributing to the market growth, as these advanced vehicles require sophisticated power steering systems for precise and responsive steering control. Moreover, the rising production of electric vehicles is creating significant opportunities for the automotive power steering motor market, as electric vehicles rely entirely on electric power steering systems for steering assistance.
Government policies related to the global automotive power steering motor market focus on promoting the adoption of electric power steering systems to improve fuel efficiency and reduce emissions. Many countries are implementing regulations and incentives to encourage the use of electric power steering motors in vehicles to meet environmental standards and enhance overall vehicle performance. Additionally, there are efforts to standardize safety requirements for power steering systems to ensure consumer protection and vehicle reliability. Governments are also investing in research and development initiatives to support innovation in the automotive power steering motor industry, aiming to drive technological advancements and sustainability in the market. Overall, government policies are geared towards fostering a shift towards more efficient and environmentally friendly power steering solutions in the automotive sector.
The Global Automotive Power Steering Motor Market is expected to witness steady growth in the coming years, driven by the increasing demand for vehicles equipped with advanced safety and driver assistance features. The growing trend towards electric vehicles and the development of autonomous driving technology are also contributing to the market expansion. Additionally, government regulations promoting fuel efficiency and emission reduction are encouraging automakers to adopt electric power steering systems, further fueling market growth. The market is also likely to benefit from the integration of advanced technologies such as steer-by-wire systems and electric power assist steering (EPAS) in modern vehicles. Overall, the Global Automotive Power Steering Motor Market is anticipated to experience sustained growth as automotive manufacturers continue to prioritize innovation and technological advancements in vehicle steering systems.
The global automotive power steering motor market is witnessing varying trends across different regions. In Asia, particularly in countries like China and India, the market is experiencing rapid growth due to the expanding automotive industry and increasing demand for electric vehicles. North America is also a significant market for automotive power steering motors, driven by the presence of key automotive manufacturers and technological advancements in the sector. In Europe, stringent regulations regarding vehicle emissions are boosting the adoption of electric power steering systems. The Middle East and Africa region is showing steady growth in the automotive power steering motor market, attributed to the rising disposable income levels and improving infrastructure. Latin America is witnessing moderate growth, with countries like Brazil and Mexico driving market expansion through increasing vehicle production and sales.
Global Automotive Power Steering Motor 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 Power Steering Motor Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Automotive Power Steering Motor Market Revenues & Volume, 2021 & 2031F |
3.3 Global Automotive Power Steering Motor Market - Industry Life Cycle |
3.4 Global Automotive Power Steering Motor Market - Porter's Five Forces |
3.5 Global Automotive Power Steering Motor Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Automotive Power Steering Motor Market Revenues & Volume Share, By Vehicle Type, 2021 & 2031F |
3.7 Global Automotive Power Steering Motor Market Revenues & Volume Share, By Power Steering Type, 2021 & 2031F |
3.8 Global Automotive Power Steering Motor Market Revenues & Volume Share, By Product Type, 2021 & 2031F |
3.9 Global Automotive Power Steering Motor Market Revenues & Volume Share, By Demand Category, 2021 & 2031F |
4 Global Automotive Power Steering Motor Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Automotive Power Steering Motor Market Trends |
6 Global Automotive Power Steering Motor Market, 2021 - 2031 |
6.1 Global Automotive Power Steering Motor Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Automotive Power Steering Motor Market, Revenues & Volume, By Passenger Car, 2021 - 2031 |
6.1.3 Global Automotive Power Steering Motor Market, Revenues & Volume, By Commercial Vehicle, 2021 - 2031 |
6.2 Global Automotive Power Steering Motor Market, Revenues & Volume, By Power Steering Type, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Automotive Power Steering Motor Market, Revenues & Volume, By Hydraulic Power Steering (HPS), 2021 - 2031 |
6.2.3 Global Automotive Power Steering Motor Market, Revenues & Volume, By Electric Power Hydraulic Steering (EPHS), 2021 - 2031 |
6.2.4 Global Automotive Power Steering Motor Market, Revenues & Volume, By Electric Power Steering (EPS), 2021 - 2031 |
6.3 Global Automotive Power Steering Motor Market, Revenues & Volume, By Product Type, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Automotive Power Steering Motor Market, Revenues & Volume, By Rack Assist type (REPS), 2021 - 2031 |
6.3.3 Global Automotive Power Steering Motor Market, Revenues & Volume, By Column Assist type (CEPS), 2021 - 2031 |
6.3.4 Global Automotive Power Steering Motor Market, Revenues & Volume, By Pinion Assist type (PEPS), 2021 - 2031 |
6.4 Global Automotive Power Steering Motor Market, Revenues & Volume, By Demand Category, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Automotive Power Steering Motor Market, Revenues & Volume, By OEM, 2021 - 2031 |
6.4.3 Global Automotive Power Steering Motor Market, Revenues & Volume, By Aftermarket, 2021 - 2031 |
7 North America Automotive Power Steering Motor Market, Overview & Analysis |
7.1 North America Automotive Power Steering Motor Market Revenues & Volume, 2021 - 2031 |
7.2 North America Automotive Power Steering Motor Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Automotive Power Steering Motor Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
7.4 North America Automotive Power Steering Motor Market, Revenues & Volume, By Power Steering Type, 2021 - 2031 |
7.5 North America Automotive Power Steering Motor Market, Revenues & Volume, By Product Type, 2021 - 2031 |
7.6 North America Automotive Power Steering Motor Market, Revenues & Volume, By Demand Category, 2021 - 2031 |
8 Latin America (LATAM) Automotive Power Steering Motor Market, Overview & Analysis |
8.1 Latin America (LATAM) Automotive Power Steering Motor Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Automotive Power Steering Motor Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Automotive Power Steering Motor Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
8.4 Latin America (LATAM) Automotive Power Steering Motor Market, Revenues & Volume, By Power Steering Type, 2021 - 2031 |
8.5 Latin America (LATAM) Automotive Power Steering Motor Market, Revenues & Volume, By Product Type, 2021 - 2031 |
8.6 Latin America (LATAM) Automotive Power Steering Motor Market, Revenues & Volume, By Demand Category, 2021 - 2031 |
9 Asia Automotive Power Steering Motor Market, Overview & Analysis |
9.1 Asia Automotive Power Steering Motor Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Automotive Power Steering Motor Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Automotive Power Steering Motor Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
9.4 Asia Automotive Power Steering Motor Market, Revenues & Volume, By Power Steering Type, 2021 - 2031 |
9.5 Asia Automotive Power Steering Motor Market, Revenues & Volume, By Product Type, 2021 - 2031 |
9.6 Asia Automotive Power Steering Motor Market, Revenues & Volume, By Demand Category, 2021 - 2031 |
10 Africa Automotive Power Steering Motor Market, Overview & Analysis |
10.1 Africa Automotive Power Steering Motor Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Automotive Power Steering Motor Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Automotive Power Steering Motor Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
10.4 Africa Automotive Power Steering Motor Market, Revenues & Volume, By Power Steering Type, 2021 - 2031 |
10.5 Africa Automotive Power Steering Motor Market, Revenues & Volume, By Product Type, 2021 - 2031 |
10.6 Africa Automotive Power Steering Motor Market, Revenues & Volume, By Demand Category, 2021 - 2031 |
11 Europe Automotive Power Steering Motor Market, Overview & Analysis |
11.1 Europe Automotive Power Steering Motor Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Automotive Power Steering Motor Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Automotive Power Steering Motor Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
11.4 Europe Automotive Power Steering Motor Market, Revenues & Volume, By Power Steering Type, 2021 - 2031 |
11.5 Europe Automotive Power Steering Motor Market, Revenues & Volume, By Product Type, 2021 - 2031 |
11.6 Europe Automotive Power Steering Motor Market, Revenues & Volume, By Demand Category, 2021 - 2031 |
12 Middle East Automotive Power Steering Motor Market, Overview & Analysis |
12.1 Middle East Automotive Power Steering Motor Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Automotive Power Steering Motor Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Automotive Power Steering Motor Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Automotive Power Steering Motor Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
12.4 Middle East Automotive Power Steering Motor Market, Revenues & Volume, By Power Steering Type, 2021 - 2031 |
12.5 Middle East Automotive Power Steering Motor Market, Revenues & Volume, By Product Type, 2021 - 2031 |
12.6 Middle East Automotive Power Steering Motor Market, Revenues & Volume, By Demand Category, 2021 - 2031 |
13 Global Automotive Power Steering Motor Market Key Performance Indicators |
14 Global Automotive Power Steering Motor Market - Export/Import By Countries Assessment |
15 Global Automotive Power Steering Motor Market - Opportunity Assessment |
15.1 Global Automotive Power Steering Motor Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Automotive Power Steering Motor Market Opportunity Assessment, By Vehicle Type, 2021 & 2031F |
15.3 Global Automotive Power Steering Motor Market Opportunity Assessment, By Power Steering Type, 2021 & 2031F |
15.4 Global Automotive Power Steering Motor Market Opportunity Assessment, By Product Type, 2021 & 2031F |
15.5 Global Automotive Power Steering Motor Market Opportunity Assessment, By Demand Category, 2021 & 2031F |
16 Global Automotive Power Steering Motor Market - Competitive Landscape |
16.1 Global Automotive Power Steering Motor Market Revenue Share, By Companies, 2024 |
16.2 Global Automotive Power Steering Motor Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |
Export potential enables firms to identify high-growth global markets with greater confidence by combining advanced trade intelligence with a structured quantitative methodology. The framework analyzes emerging demand trends and country-level import patterns while integrating macroeconomic and trade datasets such as GDP and population forecasts, bilateral import–export flows, tariff structures, elasticity differentials between developed and developing economies, geographic distance, and import demand projections. Using weighted trade values from 2020–2024 as the base period to project country-to-country export potential for 2030, these inputs are operationalized through calculated drivers such as gravity model parameters, tariff impact factors, and projected GDP per-capita growth. Through an analysis of hidden potentials, demand hotspots, and market conditions that are most favorable to success, this method enables firms to focus on target countries, maximize returns, and global expansion with data, backed by accuracy.
By factoring in the projected importer demand gap that is currently unmet and could be potential opportunity, it identifies the potential for the Exporter (Country) among 190 countries, against the general trade analysis, which identifies the biggest importer or exporter.
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