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

The Report Covers Global Automotive Power Steering Motor Market Trends and it is segmented by vehicle type (passenger car and commercial vehicle), power steering type (hydraulic power steering, electric power hydraulic steering (EPHS), and electric power steering (EPS)), product type (by rack assist type (REPS), column assist type (CEPS), and pinion assist type (PEPS)), demand category (OEM and aftermarket), and geography (North America, Europe, Asia-Pacific, and Rest of the World). The market size and forecast are provided in terms of value (USD billion) for all the above segments.

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

Automotive Power Steering Motor Industry Overview

The automotive power steering motor market is moderately consolidated, with existing market players holding the most significant shares and new players entering the market. For the edge over competitors, companies are entering joint venture partnerships and launching new products with advanced technology. For instance,

  • In the year 2022, Bosch Automotive Steering allocated USD 23 million towards investments and dedicated USD 18 million to research and development efforts. During the past 12 months, the company also welcomed over 200 new employees in production and support roles.
  • In October 2022, NIO entered into a strategic cooperation agreement with ZF outlining their collaboration in the development of steer-by-wire (SBW) products.

Automotive Power Steering Motor Market Leaders

  1. Denso Corporation

  2. Mitsubishi Electric

  3. Mitsuba Corporation

  4. Showa Corporation

  5. JTEKT Corporation

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

Automotive Power Steering Motor Market Report Snapshots

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