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

India Electric Power Steering Industry Overview

JTEKT, NSK Ltd., ZF TRW, Nexteer Automotive, Denso Corporation, Mando Automotive, are some of the major EPS manufacturers in India and plans to continue to expand their business to capture the growing demand for EPS in the country. The below instances are few strategies followed by above few companies in the country.

• In February 2019, Nexteer Automotive had announced that it has reached the production milestone of 60 million electric power steering (EPS) systems globally. This EPS system increases the fuel efficiency up to 6% and CO2 emissions up to 8 grams per kilometer.
• Rane NSK Steering Systems Private Limited (RNSS), is a joint venture of NSK Ltd. and Rane Group, and manufacturers electric power steering (EPS) and manual steering column (MSC) for passenger cars and commercial vehicles. RNSS has been continuously investing over past two years (2016-2017) to meet the increasing demand for EPS in India. In 2017, RNSS planned to invest INR 2 billion for expansion of seatbelt, airbag and electric power steering businesses in India.