Automotive Electronic Power Steering Market size was valued at USD 20.5 Billion in 2022 and is projected to reach USD 33.8 Billion by 2030, growing at a CAGR of 7.2% from 2024 to 2030.
The automotive electronic power steering (EPS) market is a growing segment within the automotive industry, focusing on innovations and technological advancements that enhance driving comfort and control. The increasing demand for fuel-efficient, lightweight, and safer vehicles has led automakers to invest in EPS systems that replace traditional hydraulic power steering systems with electronic counterparts. These systems offer a number of advantages, including improved fuel efficiency, reduced weight, and enhanced vehicle handling, which make them particularly appealing for both passenger and commercial vehicles. This report specifically explores the application of EPS in different vehicle categories, including passenger and commercial vehicles, to provide a detailed understanding of the market trends, opportunities, and key drivers in each subsegment.
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The passenger vehicle segment dominates the automotive electronic power steering market, driven by consumer demand for greater comfort, safety, and fuel efficiency. EPS systems in passenger vehicles provide variable steering assist based on driving conditions, offering smoother and more responsive steering, which significantly improves the driving experience. Additionally, the growing preference for electric vehicles (EVs) has further accelerated the adoption of EPS technology, as it helps in reducing energy consumption and enhancing vehicle performance. By eliminating the need for a hydraulic pump and fluids, EPS systems contribute to a reduction in the overall weight of the vehicle, which is a key factor in improving fuel efficiency and reducing CO2 emissions. As consumer awareness of sustainability and energy efficiency rises, automakers are increasingly incorporating EPS in a wide range of passenger vehicles, from compact cars to high-end luxury models. The integration of EPS systems is not only seen in conventional internal combustion engine (ICE) vehicles but is also becoming a standard feature in electric and hybrid vehicles. This transition aligns with the global shift towards more eco-friendly automotive solutions, with EPS helping to meet increasingly stringent fuel efficiency regulations and environmental standards. The segment is expected to witness continued growth as car manufacturers increasingly prioritize both performance and sustainability in their product offerings.
In the commercial vehicle segment, the adoption of automotive electronic power steering systems is also on the rise, albeit at a slower pace compared to passenger vehicles. EPS systems in commercial vehicles, such as trucks, buses, and vans, offer several operational advantages that contribute to the overall safety and performance of these vehicles. The primary benefit of EPS in commercial vehicles is the significant reduction in driver fatigue, as the system reduces the effort required to steer heavy vehicles, especially at low speeds or during parking maneuvers. This is crucial for commercial drivers who often spend long hours on the road, as it directly contributes to their comfort and reduces the physical strain associated with traditional hydraulic steering systems. Moreover, the increasing integration of advanced driver assistance systems (ADAS) and autonomous driving technologies in commercial vehicles has made EPS a key enabler of such innovations. EPS facilitates the precise control required for advanced safety features such as lane-keeping assist, automated parking, and collision avoidance. As logistics and transportation companies continue to embrace digitalization and automation, the commercial vehicle segment is expected to see a higher adoption rate of EPS systems, especially as the demand for fuel-efficient and environmentally friendly vehicles grows. The shift towards electric and hybrid commercial vehicles further boosts the market for EPS, as these vehicles require systems that are lighter and more energy-efficient, making EPS an ideal solution.
Several key trends are shaping the automotive electronic power steering market, including the increasing adoption of electric and hybrid vehicles, the push for lightweight materials, and the integration of advanced safety features. The shift towards electric vehicles (EVs) has significantly impacted the EPS market, as these vehicles require power steering systems that consume less energy and reduce overall vehicle weight. The EPS system’s ability to provide precise, responsive steering control makes it particularly suited for electric vehicles, as it helps to extend the range and improve driving performance while supporting the vehicle’s energy-efficient goals. This trend is expected to continue with the rise of new EV models and the increasing focus on achieving higher energy efficiency. Another notable trend is the growing focus on driver safety and comfort, especially in light of the ongoing development of ADAS and autonomous vehicle technologies. EPS plays a critical role in enabling features such as lane-keeping assist, automated parking, and other driver assistance functionalities, which require highly responsive and precise steering control. Additionally, the push for sustainability is driving the development of more lightweight steering systems, where EPS technology offers a significant advantage over traditional hydraulic systems due to its reduced weight and energy consumption. As automakers continue to prioritize both performance and environmental impact, these trends are likely to accelerate the adoption of EPS systems in both passenger and commercial vehicles.
The automotive electronic power steering market offers significant opportunities driven by technological advancements, changing consumer preferences, and regulatory pressures for more sustainable and energy-efficient solutions. One of the most promising opportunities is the integration of EPS in electric and hybrid vehicles, where the demand for energy-efficient components is particularly high. EPS technology’s ability to enhance vehicle performance while reducing weight and energy consumption makes it a critical component in the development of next-generation electric vehicles. As automakers continue to innovate in the EV space, the EPS market is expected to benefit from increased adoption across a range of vehicle types. Furthermore, the growing implementation of advanced driver assistance systems (ADAS) in both passenger and commercial vehicles presents another major opportunity for EPS technology. As these systems require precise and responsive steering, EPS becomes an essential enabler of features such as autonomous driving, collision avoidance, and lane-keeping assist. The continued evolution of connected and autonomous vehicles (CAVs) also presents new growth opportunities for the EPS market, as steering systems need to support higher levels of automation and vehicle control. Companies that focus on integrating EPS with emerging technologies like artificial intelligence (AI) and machine learning (ML) are likely to gain a competitive edge in this rapidly evolving market.
1. What is Automotive Electronic Power Steering (EPS)?
Automotive Electronic Power Steering (EPS) is a system that uses electric motors to assist the driver in steering a vehicle, replacing the traditional hydraulic power steering systems.
2. How does EPS improve fuel efficiency in vehicles?
EPS reduces the weight of the vehicle by eliminating hydraulic components, which helps improve fuel efficiency by decreasing the overall energy consumption of the vehicle.
3. What are the benefits of EPS for electric vehicles?
EPS enhances energy efficiency and driving performance in electric vehicles, contributing to longer range and improved handling, crucial for EVs with limited battery capacity.
4. Why are commercial vehicles adopting EPS technology?
Commercial vehicles benefit from EPS by reducing driver fatigue and enabling advanced features like lane-keeping assist and automated parking, all of which improve safety and comfort.
5. Is EPS technology common in all types of vehicles?
EPS technology is most commonly found in passenger vehicles and is increasingly being adopted in commercial vehicles, especially those that prioritize fuel efficiency and advanced driver assistance systems.
6. How does EPS contribute to vehicle safety?
EPS enhances vehicle safety by offering precise steering control, which is crucial for enabling advanced driver assistance features like collision avoidance and lane departure warnings.
7. What are the challenges faced by the EPS market?
Some challenges include the high initial cost of EPS systems, potential reliability concerns, and the complexity of integrating EPS with emerging autonomous and electric vehicle technologies.
8. How is the EPS market impacted by autonomous driving technologies?
Autonomous driving technologies rely heavily on EPS for precise steering control, making EPS an essential enabler of fully autonomous and semi-autonomous vehicles.
9. What future trends are expected in the EPS market?
The market is expected to see increased adoption of EPS in electric and hybrid vehicles, along with more advanced integrations of EPS with driver assistance systems and autonomous vehicle technologies.
10. How is EPS related to sustainability in the automotive industry?
EPS contributes to sustainability by reducing the weight of vehicles, improving fuel efficiency, and supporting the development of energy-efficient electric and hybrid vehicles.
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Top Automotive Electronic Power Steering Market Companies
JTEKT
Bosch
Nexteer Automobile
ZF
NSK
Mobis
Showa
Thyssenkrupp
Mando
CAAS
Regional Analysis of Automotive Electronic Power Steering Market
North America (United States, Canada, and Mexico, etc.)
Asia-Pacific (China, India, Japan, South Korea, and Australia, etc.)
Europe (Germany, United Kingdom, France, Italy, and Spain, etc.)
Latin America (Brazil, Argentina, and Colombia, etc.)
Middle East & Africa (Saudi Arabia, UAE, South Africa, and Egypt, etc.)
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Automotive Electronic Power Steering Market Insights Size And Forecast