Car Electric Power Steering Market size was valued at USD 22.5 Billion in 2022 and is projected to reach USD 32.1 Billion by 2030, growing at a CAGR of 4.7% from 2024 to 2030.
The China car electric power steering (EPS) market is experiencing significant growth due to the rising demand for more efficient, fuel-saving, and environmentally friendly steering systems in the automotive industry. Electric power steering systems are replacing traditional hydraulic steering systems because they offer better fuel efficiency, reduced emissions, and increased steering precision. This market has been segmented by application into two primary categories: passenger vehicles and commercial vehicles. These segments are driving the market’s growth in distinct ways, with each application offering unique opportunities for manufacturers and end-users.
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The passenger vehicle segment holds the largest share of the China electric power steering market. This is primarily due to the growing consumer preference for vehicles that are more fuel-efficient and environmentally friendly, which electric power steering systems can provide. These systems require less energy compared to hydraulic systems, leading to improved fuel economy and lower carbon footprints. With the increasing demand for compact, electric, and hybrid vehicles, the need for advanced steering technologies that align with the green initiatives of manufacturers has surged. In addition, the shift toward more personalized driving experiences, along with advancements in steering feel and assist systems, further supports the growing demand for EPS in passenger vehicles.
As the automotive market in China continues to expand, the shift from traditional vehicles to electric and hybrid models is expected to increase, further driving the adoption of electric power steering systems. Furthermore, the rising disposable incomes of the middle-class population and the demand for higher-end vehicle features such as advanced driver-assistance systems (ADAS) and automated steering functions are contributing to the growth of EPS in passenger vehicles. Car manufacturers are increasingly incorporating EPS in their vehicle models to meet these consumer demands, which is expected to fuel continued market growth in this segment.
The commercial vehicle segment is another key application driving the growth of the China car electric power steering market. Commercial vehicles, including trucks, buses, and vans, have unique demands compared to passenger vehicles, and EPS offers specific benefits that align with these needs. Electric power steering systems in commercial vehicles can help reduce the overall weight of the vehicle and improve fuel efficiency, both of which are important factors for businesses aiming to lower operating costs. Additionally, the superior control and stability offered by EPS make it a highly attractive option for commercial vehicles that require precise handling, especially when carrying heavy loads or navigating complex urban environments.
As China’s logistics and transportation sectors continue to grow, the demand for commercial vehicles with enhanced fuel efficiency and lower maintenance costs is expected to drive further adoption of electric power steering systems. Moreover, the push towards electrification in public transportation, including electric buses and trucks, is contributing to the expansion of the EPS market in the commercial vehicle segment. In the coming years, manufacturers of commercial vehicles will likely continue to incorporate EPS to enhance the overall driving experience, reduce fuel consumption, and lower operational costs, creating significant opportunities within the market.
Several key trends are shaping the development of the China electric power steering market. The primary trend is the increasing adoption of electric vehicles (EVs) and hybrid vehicles, which require more energy-efficient steering systems to improve overall vehicle performance and sustainability. EPS systems, being highly compatible with electric and hybrid vehicles, are becoming a preferred choice. Additionally, the demand for driver-assistance systems, such as lane-keeping assist, automated steering, and adaptive steering, is accelerating the adoption of EPS in both passenger and commercial vehicles. These systems not only enhance driving comfort and safety but also provide a more efficient means of control.
Another significant trend is the ongoing advancements in technology, including the integration of artificial intelligence (AI) and machine learning in EPS systems. These technologies enable more precise and adaptive steering responses, improving the driving experience. Furthermore, as the Chinese government continues to push for green initiatives and environmental sustainability, automakers are increasingly incorporating EPS systems to meet regulatory requirements related to emissions and fuel efficiency. The continued growth of the smart transportation sector, as well as the evolution of autonomous vehicles, is also expected to drive the development and implementation of EPS systems.
The China car electric power steering market is rife with opportunities due to the ongoing demand for more energy-efficient, cost-effective, and environmentally friendly steering systems. Manufacturers have the chance to expand their market share by focusing on developing more advanced and innovative EPS solutions that integrate seamlessly with electric and hybrid vehicles. This includes exploring opportunities in autonomous driving technologies, where EPS can play a crucial role in providing precise and responsive steering. Furthermore, the rise in smart city infrastructure and increased public transportation electrification presents a growing opportunity for the commercial vehicle segment to integrate EPS in buses, trucks, and other forms of public transit.
Additionally, there is an opportunity for EPS systems to become a standard feature in mid-range and premium vehicle models, driven by the growing consumer preference for advanced driving features. The demand for EPS in electric vehicles (EVs) is also expected to continue expanding as the global shift toward EVs and environmentally friendly vehicles gains momentum. By focusing on providing high-quality, affordable, and adaptable EPS systems, manufacturers can position themselves for success in a rapidly evolving market driven by environmental concerns, technological advancements, and consumer preferences.
1. What is an electric power steering (EPS) system?
An EPS system uses an electric motor to assist with the steering mechanism, reducing the need for hydraulic fluids and offering more precise steering control.
2. How does EPS improve fuel efficiency in vehicles?
EPS systems consume less power compared to traditional hydraulic steering systems, leading to better fuel efficiency by reducing engine load.
3. What are the advantages of EPS over hydraulic power steering?
EPS systems are more energy-efficient, lighter, and require less maintenance compared to hydraulic systems, offering a more sustainable solution.
4. Why is EPS important for electric vehicles?
EPS helps reduce energy consumption, making it ideal for electric vehicles that prioritize energy efficiency and longer battery life.
5. Are EPS systems more expensive than hydraulic steering systems?
Initially, EPS systems may have higher upfront costs, but they offer long-term savings due to lower maintenance and fuel efficiency.
6. How does EPS enhance driving safety?
EPS can be integrated with advanced driver-assistance systems (ADAS), providing features like lane-keeping assist and automatic steering corrections for improved safety.
7. What are the future prospects of the EPS market in China?
The market is expected to grow significantly with the rise of electric and hybrid vehicles, government regulations on fuel efficiency, and increasing consumer demand for advanced steering systems.
8. Can EPS be installed in existing vehicles?
While it's technically possible, retrofitting a vehicle with EPS is not common and can be costly and complex, typically done in new vehicle models.
9. How does EPS contribute to the environmental sustainability of vehicles?
By reducing the weight of vehicles and improving fuel efficiency, EPS systems help decrease carbon emissions and reduce the overall environmental impact.
10. What is the role of EPS in commercial vehicles?
In commercial vehicles, EPS improves handling, reduces fuel consumption, and enhances driver comfort, especially for long-haul operations.
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Top Car Electric Power Steering Market Companies
JTEKT
Bosch
NSK
Nexteer
ZF
Mobis
Showa
Thyssenkrupp
Mando
Market Size & Growth
Strong market growth driven by innovation, demand, and investment.
USA leads, followed by Canada and Mexico.
Key Drivers
High consumer demand and purchasing power.
Technological advancements and digital transformation.
Government regulations and sustainability trends.
Challenges
Market saturation in mature industries.
Supply chain disruptions and geopolitical risks.
Competitive pricing pressures.
Industry Trends
Rise of e-commerce and digital platforms.
Increased focus on sustainability and ESG initiatives.
Growth in automation and AI adoption.
Competitive Landscape
Dominance of global and regional players.
Mergers, acquisitions, and strategic partnerships shaping the market.
Strong investment in R&D and innovation.
Asia-Pacific (China, Japan, India, etc.)
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