North America Electric Power Steering Controller Market was valued at USD 0.87 Billion in 2022 and is projected to reach USD 1.34 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The North American electric power steering (EPS) controller market is witnessing rapid growth due to increased demand for fuel-efficient vehicles, technological advancements in automotive systems, and growing environmental concerns. EPS controllers are an essential component of modern electric power steering systems, offering benefits such as improved fuel efficiency, reduced vehicle weight, and enhanced driving comfort. These systems use electric motors instead of hydraulic systems to assist steering, making them a more sustainable option compared to traditional power steering systems.
One of the primary drivers of the North American market is the ongoing shift toward electric and hybrid vehicles. Manufacturers are increasingly adopting EPS systems to improve the overall efficiency and performance of these vehicles. This trend is being driven by the need for reduced carbon emissions, fuel savings, and regulatory compliance. According to recent reports, the electric vehicle (EV) market is expected to grow significantly, directly boosting the demand for advanced EPS controllers.
Industries in North America are also focusing on improving driver safety and comfort, which has led to the integration of more advanced EPS systems with features like lane-keeping assistance, automatic parking, and collision avoidance. These technologies, enabled by electric power steering controllers, enhance the overall driving experience and help automakers meet consumer expectations for safety and convenience. As autonomous driving technologies continue to evolve, EPS controllers are becoming a critical component for providing responsive, precise, and automated steering capabilities.
The automotive industry is not the only sector benefiting from EPS technology. Aerospace and robotics industries are also exploring EPS controllers for use in specialized applications. This expansion across multiple sectors highlights the versatility and importance of EPS systems in modern mechanical systems.
In summary, the North American electric power steering controller market is poised for significant growth, driven by innovations in automotive technologies, a shift to eco-friendly vehicles, and increased demand for advanced driver assistance systems. As industries continue to evolve, the role of EPS controllers will become more critical in delivering high-performance, efficient, and safe driving experiences, further solidifying the importance of the North America Electric Power Steering Controller Market.
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JINGWEI HIRAIN
Bosch
Continental AG
Denso Corporation
ZF Friedrichshafen AG
Aisin Seiki Co.
Ltd.
Hitachi Automotive Systems Ltd.
Valeo
Magna International Inc.
Hella KGaA Hueck & Co.
Koito Manufacturing Co.
Ltd.
Stanley Electric Co.
Ltd.
JTEKT Corporation
Nexteer Automotive
NSK Ltd
Sensata Technologies
NXP Semiconductors
TT Electronics
Mitsubishi Electric Corporation
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 North America Electric Power Steering Controller Market
Commercial Vehicles
Passenger Vehicles
Based on Types the Market is categorized into Below types that held the largest Electric Power Steering Controller market share In 2023.
Front-Mounted Electric Power Steering Controller
Central Electric Power Steering Controller
Rear-Mounted Electric Power Steering Controller
North America (United States, North America 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)
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1. Introduction of the North America Electric Power Steering Controller 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. North America Electric Power Steering Controller Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. North America Electric Power Steering Controller Market, By Type
6. North America Electric Power Steering Controller Market, By Application
7. North America Electric Power Steering Controller Market, By Geography
North America
Europe
Asia Pacific
Rest of the World
8. North America Electric Power Steering Controller Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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