EPS Motors Market size was valued at USD 8.2 Billion in 2024 and is forecasted to grow at a CAGR of 7.3% from 2026 to 2033, reaching USD 15.3 Billion by 2033.
The global Electric Power Steering (EPS) motors market was valued at approximately USD 13.9 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.8% from 2023 to 2030. The demand for EPS motors is driven by the growing adoption of electric vehicles (EVs) and advancements in automotive steering technologies. North America and Europe hold a significant share of the market, with North America accounting for about 32% of the global revenue in 2022. The increasing production of electric vehicles, coupled with stringent fuel efficiency and safety standards in these regions, is fueling the demand for EPS motors. Moreover, the Asia Pacific region, particularly China and Japan, is experiencing rapid growth due to the expansion of the automotive industry and rising automotive production in these countries. The EPS motors market in the Asia Pacific is expected to witness a growth rate of approximately 6.5% during the forecast period, driven by the increasing popularity of electric and hybrid vehicles, along with government initiatives aimed at reducing carbon emissions.
Regional growth opportunities are notable in emerging economies, where increasing disposable income and evolving automotive infrastructure are propelling the adoption of advanced steering technologies. The Latin American and Middle East & Africa regions are projected to experience a steady rise in EPS motor demand, with the Latin American market anticipated to grow at a CAGR of 4.2% over the forecast period. In contrast, the Middle East & Africa region may see a slight increase in EPS motor demand, primarily due to the automotive sectors growing investments in countries such as Saudi Arabia and the UAE. Rising consumer preference for comfort and safety, along with the adoption of next generation steering systems, continues to offer lucrative opportunities for the EPS motors market across various regional markets.
Get | Download Sample Copy with TOC, Graphs & List of Figures @ http://verifiedmarketreports.com/download-sample/?rid=593534&utm_source=Pulse_G_April&utm_medium=226
Nidec
Bosch
Mitsubishi Electric
Denso
ZF
LG Innotek
Mitsuba
Zhuzhou Elite Electro Mechanical Co.
Ltd
Fuxin Dare Automotive Parts Co.
Ltd
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
Get Discount On The Purchase Of This Report @ https://www.verifiedmarketreports.com/ask-for-discount/?rid=593534&utm_source=Pulse_G_April&utm_medium=226
Growing demand for below applications around the world has had a direct impact on the growth of the Global EPS Motors Market
Brushed DC Motors
Brushless DC Motors
Stepper Motors
Linear Motors
Automotive
Aerospace
Industrial Machinery
Consumer Electronics
Medical Devices
Traditional Electric Motors
Smart Motors
Hybrid Motors
Passenger Vehicles
Commercial Vehicles
Two-Wheelers
Heavy Machinery
Public Transportation
Low Voltage (up to 48V)
Medium Voltage (48V - 200V)
High Voltage (above 200V)
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
For More Information or Query, Visit @ https://www.verifiedmarketreports.com/product/eps-motors-market/
1. Introduction of the Global EPS Motors Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global EPS Motors Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global EPS Motors Market, By Type
6. Global EPS Motors Market, By Application
7. Global EPS Motors Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global EPS Motors Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Research and Consulting firm servicing over 5000+ US clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/