Automotive Electric Power Steering (EPS) Systems Market is estimated to be valued at USD 32.62 Bn in 2025 and is expected to reach USD 46.83 Bn by 2032, growing at a compound annual growth rate (CAGR) of 5.3% from 2025 to 2032.
Report Coverage
Report Details
Base Year:
2024
Market Size in 2025:
USD 32.62 Bn
Historical Data for:
2020 To 2024
Forecast Period:
2025 To 2032
Forecast Period 2025 to 2032 CAGR:
5.30%
2032 Value Projection:
USD 46.83 Bn
Electric power steering systems have become a standard in modern vehicles, adding to fuel efficiency and reduced emissions. These systems use electric motors and electronic control units to provide steering assistance. Automotive manufacturers are working on sustainability and regulatory compliance, and EPS systems are helping them meet strict fuel economy standards and environmental regulations. The market includes different EPS configurations including column-assist, pinion-assist, and rack-assist systems, each designed to optimize performance in different vehicle categories. The proliferation of advanced driver assistance systems (ADAS) and the growing demand for connected vehicle technologies also add to the importance of EPS systems.
Market Dynamics
The strict government regulations are pushing for improved fuel efficiency and reduced carbon emissions, making EPS systems essential components for automotive manufacturers. Modern consumers are looking for driving comfort, improved vehicle handling, and advanced safety features, which is creating demand for sophisticated EPS technologies across passenger and commercial vehicle segments. However, market growth faces notable constraints including high initial implementation costs, complex integration requirements with existing vehicle systems, and potential reliability concerns associated with electronic components in harsh automotive environments. The sophisticated nature of EPS systems necessitates substantial research and development investments, creating barriers for smaller manufacturers and potentially limiting market competition. Nevertheless, significant opportunities emerge from the accelerating development of autonomous driving technologies, which require precise electronic steering control for advanced maneuvering capabilities. The expanding global automotive production, particularly in emerging economies, presents lucrative growth prospects for EPS system manufacturers.
Key Features of the Study
This report provides in-depth analysis of the global Automotive Electric Power Steering (EPS) systems market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2025-2032), considering 2024 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global automotive electric power steering (EPS) systems market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include JTEKT, Nexteer Automotive, ZF Friedrichshafen, RobertBosch, NSK Ltd., Mando, Mobis, Showa Corporation, ThyssenKrupp, Hitachi Astemo, Zhejiang Shibao, BBB Industries, Denso, Aptiv, and Hitachi.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
The global automotive electric power steering (EPS) systems market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global automotive electric power steering (EPS) systems market.
Market Segmentation
Type Insights (Revenue, USD Bn, 2020 - 2032)
Column Assist Type
Rack Assist Type
Pinion Assist Type
Component Insights (Revenue, USD Bn, 2020 - 2032)
Gearbox
Electric Motor
ECU
Sensors
Steering Column
Others
Regional Insights (Revenue, USD Bn, 2020 - 2032)
North America
U.S.
Canada
Latin America
Brazil
Argentina
Mexico
Rest of Latin America
Europe
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
GCC Countries
Israel
Rest of Middle East
Africa
South Africa
North Africa
Central Africa
Key Players Insights
JTEKT
Nexteer Automotive
ZF Friedrichshafen
RobertBosch
NSK Ltd.
Mando
Mobis
Showa Corporation
ThyssenKrupp
Hitachi Astemo
Zhejiang Shibao
BBB Industries
Denso
Aptiv
Hitachi
Table of Contents
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Global Automotive Electric Power Steering (EPS) Systems Market, By Type
Global Automotive Electric Power Steering (EPS) Systems Market, By Component
Global Automotive Electric Power Steering (EPS) Systems Market, By Region
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Market Opportunities
Regulatory Scenario
Key Developments
Industry Trends
4. Global Automotive Electric Power Steering (EPS) Systems Market, By Type, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Column Assist Type
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Rack Assist Type
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Pinion Assist Type
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
5. Global Automotive Electric Power Steering (EPS) Systems Market, By Component, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Gearbox
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Electric Motor
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
ECU
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Sensors
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Steering Column
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Others
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
6. Global Automotive Electric Power Steering (EPS) Systems Market, By Region, 2020 - 2032, Value (USD Bn)