Electric Power Steering (EPS) Control Units Market was valued at USD 8.5 Billion in 2022 and is projected to reach USD 15.0 Billion by 2030, growing at a CAGR of 8.0% from 2024 to 2030.
The Electric Power Steering (EPS) Control Units market has witnessed substantial growth owing to the increasing demand for enhanced fuel efficiency, improved steering performance, and reduced vehicle weight. The EPS system utilizes electric motors to provide steering assistance, reducing the need for hydraulic systems, thus offering several advantages such as lower energy consumption, increased reliability, and reduced maintenance costs. These advantages make EPS a popular choice in modern vehicles, and the control units are essential for regulating and optimizing steering functions. The market is expanding rapidly, especially with the growing emphasis on electric vehicles (EVs) and advancements in automotive technology. As vehicle manufacturers are increasingly adopting EPS technology, the market is expected to continue its growth trajectory.
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Passenger vehicles represent a significant portion of the Electric Power Steering (EPS) Control Units market due to the increasing adoption of EPS systems in cars and light trucks. The demand for lightweight, fuel-efficient, and technologically advanced vehicles has led to widespread use of EPS systems. In passenger vehicles, EPS control units ensure that the steering performance is optimized to provide enhanced comfort, safety, and ease of driving. The ongoing trend of integrating advanced driver-assistance systems (ADAS) with EPS technology further boosts its adoption in passenger vehicles. With the shift toward autonomous and semi-autonomous vehicles, the need for precise control and adaptability in steering systems is increasing, which further drives the demand for EPS control units in this segment.
As consumers prioritize comfort, convenience, and energy efficiency, the trend toward electric power steering systems has gained significant traction in the passenger vehicle segment. The EPS control unit in these vehicles not only ensures efficient energy consumption but also contributes to the overall reduction in vehicle weight, enhancing fuel economy. Additionally, the increasing prevalence of compact, electric, and hybrid vehicles has resulted in higher demand for EPS systems that require sophisticated control units for precise steering management. This demand is expected to grow as more vehicle manufacturers incorporate EPS technology into their designs to meet regulatory requirements and consumer preferences for sustainable and high-performing vehicles.
In the commercial vehicle segment, the Electric Power Steering (EPS) Control Units are gaining importance as they help improve the efficiency and safety of larger vehicles like trucks, buses, and vans. EPS technology has become a critical component in commercial vehicles due to its ability to deliver superior steering performance, reduce driver fatigue, and enhance vehicle maneuverability, especially when carrying heavy loads. The shift from traditional hydraulic power steering (HPS) to EPS systems in commercial vehicles offers multiple benefits such as reduced fuel consumption, lower maintenance costs, and less environmental impact due to the absence of hydraulic fluids. Furthermore, EPS systems provide better precision and stability in steering, which is crucial for the safe operation of large vehicles in diverse driving conditions.
Commercial vehicle manufacturers are increasingly adopting EPS technology as part of their efforts to improve overall vehicle performance, reduce operating costs, and meet stringent emission standards. With the growing demand for fleet management and the integration of telematics in commercial vehicles, EPS control units are becoming vital in providing real-time data and enhancing the vehicle's operational efficiency. The market for EPS control units in the commercial vehicle segment is poised to expand as truck and bus manufacturers aim to meet the rising need for more fuel-efficient, environmentally friendly, and technologically advanced vehicles. As EPS technology evolves, the adoption rate in commercial vehicles will continue to rise, particularly as electric and autonomous commercial vehicles become more prevalent.
The Electric Power Steering (EPS) Control Units market is evolving rapidly with a number of key trends shaping its future. One of the primary trends is the shift towards electric and autonomous vehicles, which require more sophisticated EPS systems for enhanced steering precision and driver control. With electric vehicles (EVs) gaining popularity, there is an increased demand for lightweight and energy-efficient steering solutions, which EPS systems can provide. Additionally, the rise in safety-conscious consumer behavior and the increasing integration of advanced driver-assistance systems (ADAS) are driving the adoption of EPS control units, as they contribute to vehicle safety, handling, and performance. Furthermore, the trend toward reducing fuel consumption and vehicle emissions has led to the greater implementation of EPS systems, as they are more energy-efficient compared to hydraulic steering systems.
Another significant trend in the EPS control units market is the increasing use of digitalization and connectivity in steering systems. With advancements in Internet of Things (IoT) and telematics, EPS control units are becoming more integrated into vehicle systems, enabling real-time monitoring and data analytics. This not only enhances the performance of the steering system but also improves the overall driving experience. Additionally, advancements in artificial intelligence (AI) and machine learning (ML) are expected to further improve the capabilities of EPS systems, allowing for more adaptive and personalized steering adjustments based on road conditions and driver behavior. These trends point toward a future where EPS control units are even more intelligent, responsive, and efficient, contributing to the overall growth and transformation of the automotive industry.
The Electric Power Steering (EPS) Control Units market is full of growth opportunities, driven by several factors, including the increasing demand for electric and hybrid vehicles, advancements in autonomous driving technologies, and the growing emphasis on energy efficiency and sustainability. As the automotive industry transitions toward greener alternatives, the demand for EPS systems in electric vehicles (EVs) is expected to rise significantly. Additionally, the continued evolution of autonomous vehicles presents an opportunity for EPS control units to play a pivotal role in ensuring precise steering control, essential for safe and reliable autonomous driving. Manufacturers of EPS control units are also poised to benefit from the rise of advanced driver-assistance systems (ADAS) as EPS technology is integrated with other vehicle safety and performance systems.
The commercial vehicle sector presents another promising opportunity for EPS control units. As truck and bus manufacturers strive to improve fuel efficiency, reduce emissions, and enhance driver comfort, EPS systems offer a practical solution. The integration of EPS control units with telematics and fleet management systems presents new opportunities for vehicle tracking, performance monitoring, and predictive maintenance. Furthermore, the expansion of electric buses and trucks will drive demand for EPS systems, creating new avenues for growth in the commercial vehicle market. Overall, the increasing focus on sustainability, safety, and vehicle performance presents numerous opportunities for EPS control units in both passenger and commercial vehicle segments.
1. What is Electric Power Steering (EPS)?
Electric Power Steering (EPS) is a steering system that uses an electric motor to assist with steering, replacing traditional hydraulic power steering systems.
2. Why is EPS preferred over hydraulic steering?
EPS is preferred due to its higher energy efficiency, lighter weight, and lower maintenance costs compared to hydraulic steering systems.
3. How does EPS improve vehicle fuel efficiency?
EPS systems reduce the load on the engine by using electric motors, resulting in better fuel efficiency compared to hydraulic systems.
4. What role do EPS control units play in modern vehicles?
EPS control units regulate the electric motor's output to ensure optimal steering performance, safety, and driver comfort.
5. Are EPS systems used in electric vehicles?
Yes, EPS systems are commonly used in electric vehicles (EVs) as they contribute to energy efficiency and reduce the overall weight of the vehicle.
6. How do EPS systems enhance vehicle safety?
EPS systems offer better precision in steering, improving vehicle stability and response, especially in adverse road conditions, which enhances safety.
7. What are the key trends in the EPS control units market?
Key trends include the rise of electric and autonomous vehicles, integration with ADAS, and increased use of IoT and AI for smart steering systems.
8. How are EPS systems beneficial for commercial vehicles?
EPS systems in commercial vehicles reduce fuel consumption, improve maneuverability, and help reduce driver fatigue, making them more efficient and safer.
9. What opportunities exist in the EPS control units market?
Opportunities include the growing demand for EVs, advancements in autonomous driving, and the expansion of electric buses and trucks.
10. What is the future outlook for the EPS control units market?
The EPS control units market is expected to grow significantly, driven by trends in sustainability, safety, and technological advancements in the automotive industry.
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Bosch
JTEKT
Nexteer
ZF
NSK
Hitachi Astemo (Showa)
Hyundai Mobis
Thyssenkrupp
Mando
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. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. 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.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Electric Power Steering (EPS) Control Units Market
Passenger Vehicle
Commercial Vehicle
Based on Types the Market is categorized into Below types that held the largest Electric Power Steering (EPS) Control Units market share In 2023.
C-EPS
P-EPS
R-EPS
DP-EPS
Global (United States, Global 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)
1. Introduction of the Global Electric Power Steering (EPS) Control Units 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 Electric Power Steering (EPS) Control Units Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Electric Power Steering (EPS) Control Units Market, By Type
6. Global Electric Power Steering (EPS) Control Units Market, By Application
7. Global Electric Power Steering (EPS) Control Units Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Electric Power Steering (EPS) Control Units Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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