Global Electric Power Steering Market size was valued at USD 27.37 Bn. in 2023 and the total Electric Power Steering revenue is expected to grow by 5.7 % from 2024 to 2030, reaching nearly USD 40.35 Bn.

Electric Power Steering Market Overview

Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the “Electric Power Steering Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The report provides the current state of the Electric Power Steering Market by thorough analysis, and projections are made up to 2030.

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Electric Power Steering Market Scope and Methodology:

The report analyzes the Electric Power Steering Market by dividing it into segments and conducting various regional analyses to offer a definition, description, and forecast. It necessitates thorough qualitative and quantitative research in addition to various key market attributes. The research involves examining competition, analyzing competitors, evaluating industries, studying financial effects, understanding viewpoints, tracking market trends, and estimating market size.

This report extensively analyzes the opportunities, challenges, drivers, and future trends in the market. It looks at past data and considers various possible market situations. The research meticulously analyzes the market's possibilities, market behavior, chances for growth, market divisions, geographical influences, examination of competitors, and predictions through suitable methods and hypotheses. The research also involves evaluating the value chain, studying impacts, conducting PESTLE analysis, and PORTER analysis.

Electric Power Steering Market Regional Insights

The report provides a more detailed analysis of the markets in Asia Pacific, Europe, North America, South America, and the Middle East. Having a good grasp of the intricate operations of the worldwide Electric Power Steering Market industry is crucial for the geographical analysis in the research. The report includes data on market size, growth rates, and commodity trade in every country. The report also outlines the latest progress in the worldwide Electric Power Steering Market in different countries and regions.

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Electric Power Steering Market Segmentation

by Type

Rack assist type (REPS)
Colum assist type (CEPS)
Pinion assist type (PEPS)

The Rack Assist Type (REPS) category of the Electric Power Steering Market held the highest market shear in 2023. An arrangement of rack and pinion gears connected to the front wheels is referred to as a "steering rack." When we spin the steering wheel, the rack and pinion gears engage, causing the wheels to move to the left or right and giving us control over the car. Power-assisted might be shortened to power. It offers extra support to help us turn the steering rack, which facilitates easier car handling. The word "electric" refers to the steering rack's use of electronics to provide extra power.

by Mechanism

Rigid
Collapsible

There are two segments in the electric power steering market: rigid and collapsible applications. In 2023, the Collapsible market had the most market share. The rapid technological advancements in the automotive industry have brought about significant changes in the market for automobile collapsible steering columns. The advancement of power steering has introduced steering technology to the public. This technology is not only more responsive and fuel-efficient than traditional manual steering systems, but it is also more sophisticated technologically.

by Application

Passenger Cars (PC)
Commercial Vehicles (CV)

In 2023, the electric power steering market share was highest among commercial vehicles. Within the application area are two types of vehicles: passenger cars (PC) and commercial vehicles (CV). Commercial vehicles are anticipated to grow at the quickest rate during the course of the prediction. The main driver of this segment's growth is the increase in construction and e-commerce activities worldwide. Rigid investments in rural and infrastructure development, along with stringent regulations governing vehicle weight and length restrictions, have propelled the demand for electric power steering in commercial vehicles.

by Components

Steering column
Sensors
Steering gear
Mechanical rack and pinion
Electronic control unit
Electric motor
Bearing

by Electric Motor

Brush motor
Brushless motor

Table of Content: Electric Power Steering Market :

Part 01: Executive Summary

Part 02: Scope of the Electric Power Steering Market Report

Part 03: Electric Power Steering Market Landscape

Part 04: Electric Power Steering Market Sizing

Part 05: Electric Power Steering Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Electric Power Steering Market Key Players

1. JTEKT Corporation (Japan)
2. DENSO Corporation (Japan)
3. Mitsubishi Electric Corporation (Japan)
4. NSK Ltd. (Japan)
5. Nissan Motor Corporation (Japan)
6. Hitachi Automotive Systems (Japan)
7. Renesas Electronics (Japan)
8. ZF Friedrichshafen AG (Germany)
9. Thyssenkrupp (Germany)
10. Robert Bosch GmbH (Germany)
11. TRIDEC (Germany)
12. Infineon Technologies (Germany)
13. GKN Automotive Limited (UK)
14. Delphi Technologies (UK)
15. China Automotive Systems, Inc. (China)
16. Zhejiang Shibao Company Limited (China)
17. Hyundai Mobis (South Korea)
18. Mando Corp. (South Korea)
19. Global Steering Systems (US)
20. Tenneco (US)
21. Nexteer Automotive (US)
22. Maval Industries LLC (US)
23. Danfoss (Denmark)
24. STMicroelectronics (Switzerland)

Key questions answered in the Electric Power Steering Market are:

What is Electric Power Steering Market?
What was the Electric Power Steering Market size in 2024?
What will be the CAGR at which the Electric Power Steering Market will grow?
What are the upcoming industry applications and trends for the Electric Power Steering Market?
What are the different segments of the Electric Power Steering Market?
What segments are covered in the Electric Power Steering Market?
Which are the factors expected to drive the Electric Power Steering Market growth?
What growth strategies are the players considering to increase their presence in Electric Power Steering Market?
Who are the key players in the Electric Power Steering Market?
Who are the leading companies and what are their portfolios in Electric Power Steering Market?
What is the growth rate of the Electric Power Steering Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Electric Power Steering Market?
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Key Offerings:

Past Market Size and Competitive Landscape (2024 to 2030)
Past Pricing and price curve by region (2024 to 2030)
Market Size, Share, Size & Forecast by different segment | (2024 to 2030)
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
Recommendations
About Maximize Market Research:

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