Automotive EPS and EPB Systems Market Revenue was valued at USD 26.7 Billion in 2024 and is estimated to reach USD 41.2 Billion by 2033, growing at a CAGR of 5.1% from 2026 to 2033.
The global market for Automotive Electric Power Steering (EPS) and Electric Parking Brake (EPB) systems was valued at approximately USD 33.7 billion in 2022 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.8% from 2023 to 2030. The growth of the EPS market is primarily driven by the increasing adoption of advanced driver assistance systems (ADAS) and rising demand for fuel efficient vehicles. In addition, the EPB market is witnessing growth due to the shift towards lightweight components and improved vehicle safety features. By 2030, the market size for Automotive EPS and EPB systems is forecast to reach around USD 62.5 billion, propelled by the expanding automotive industry, technological advancements, and stricter government regulations on vehicle emissions. The rising popularity of electric vehicles (EVs) is also expected to boost the demand for EPS and EPB systems as they offer better performance and energy efficiency compared to conventional mechanical systems.
Regionally, the Asia Pacific region holds the largest share in the Automotive EPS and EPB systems market, contributing over 40% of the total market revenue in 2022. This can be attributed to the presence of key automotive manufacturing countries like China, Japan, and South Korea, as well as the growing demand for fuel efficient and electric vehicles. The North American market is expected to grow at a significant CAGR of 5.9% due to the increasing adoption of advanced steering and braking technologies and the growing number of EVs. Europe also plays a major role in the market, with increasing government regulations promoting the adoption of electric and hybrid vehicles, making it an essential region for market growth. The Latin American and Middle Eastern regions are forecast to experience moderate growth during the forecast period due to growing automotive infrastructure and increasing vehicle sales.
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Aisin
Mando
Bosch
NSK
Wuhu Bethel Automotive
Hitachi Astemo
Zhejiang Shibao
Thyssenkrupp
Nexteer
ZF
CAAS
Hyundai Mobis
Advics
Zhuzhou Elite
JTEKT
Küster
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.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Automotive EPS and EPB Systems Market
Column Assist EPS
Pinion Assist EPS
Rack Assist EPS
Electronic Control Unit (ECU)
Motor
Sensor
Gear Mechanism
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Steering
Braking
Drum Brake EPB
Disc Brake EPB
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)
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1. Introduction of the Global Automotive EPS and EPB Systems 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 Automotive EPS and EPB Systems Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Automotive EPS and EPB Systems Market, By Type
6. Global Automotive EPS and EPB Systems Market, By Application
7. Global Automotive EPS and EPB Systems Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Automotive EPS and EPB Systems Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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