Electric Power Steering Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Global Automotive Electric Power Steering Market is Segmented by Type (Column Type, Pinion Type, and Dual Pinion Type), by Component Type (Steering Rack/Column, Sensor, Steering Motor, and Other Components), by Vehicle Type (Passenger Cars and Commercial Vehicles), and by Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Market Size and Forecast of the Automotive Electric Power Steering (EPS) Market are provided in terms of value in (USD billion) for the above-mentioned segments.

Electric Power Steering Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Automotive Electric Power Steering System Industry Overview

The automotive electric power steering market is consolidated, with approximately more than half of the market share held by few companies, such as JTEKT Corporation, ZF Friedrichshafen AG, NSK Ltd, Mitsubishi Electric Corporation, and Nexteer Automotive.

The companies are focusing on diversifying their product line and customers, by launching new EPS systems with upgraded technology. For instance, 

  • In Septmber 2022, The Tottori Plant received a capital investment worth JPY 500 million from NOK Corporation . Under the investment, over the span of three years, the company will look forward to increase the manufacturing of its anti-vibration and soundproofing devices utilised around electric power steering (EPS), brakes, and gears of electric vehicles.
  • In August 2021, Nexteer Automotive announced the expansion of its pinion electric steering (EPS) systems to meet the needs of heavier electric vehicles. The new high-output solutions benefit OEM customers to steer heavier electric vehicle loads without the need for treditional premium EPS technologies for heavy load vehicles.

Automotive Electric Power Steering System Market Leaders

  1. JTEKT Corporation

  2. Nexteer Automotive Group Ltd

  3. NSK Ltd

  4. ZF Friedrichshafen AG

  5. Robert Bosch GmbH

  6. *Disclaimer: Major Players sorted in no particular order
Automotive Electric Power Steering Systems Market Concentration

Electric Power Steering (EPS) Market Report Snapshots

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