Global Electronic Power Steering Market Poised for Growth Amid Rising Demand for Fuel Efficiency & Safety Features

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.com/ -- 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!
https://www.futuremarketinsights.com/report-sample#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
https://www.futuremarketinsights.com/reports/electronic-power-steering-market

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
https://www.futuremarketinsights.com/industry-analysis/automotive-chassis-system

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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Ankush Nikam
Future Market Insights, Inc.
+ +91 90966 84197
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