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 South Korean automotive industry has seen significant growth in the adoption of advanced systems like Electronic Power Steering (EPS) and Electronic Parking Brake (EPB). These technologies are transforming the driving experience by enhancing safety, comfort, and efficiency. Automotive EPS and EPB systems are increasingly required by industries to meet the growing demand for smarter, more reliable vehicles.
Electronic Power Steering (EPS) offers a highly efficient alternative to traditional hydraulic steering systems. By replacing fluid with an electric motor, EPS reduces the vehicle’s weight and improves fuel efficiency. The demand for EPS systems in South Korea is driven by the country’s automotive manufacturers, which aim to enhance vehicle performance while complying with stringent environmental standards. As fuel efficiency becomes a key selling point for consumers, automakers are turning to EPS to deliver on this need. Furthermore, EPS systems provide better steering precision, contributing to the overall driving experience. As a result, the South Korean EPS market has seen rapid growth, with significant adoption in both compact and luxury vehicles.
On the other hand, the Electronic Parking Brake (EPB) system has gained traction due to its space-saving benefits and convenience. EPB eliminates the need for traditional mechanical parking brake systems, offering drivers the ease of one-touch parking. In South Korea, where urbanization and high-density traffic are common, the EPB system's compact size makes it ideal for smaller vehicles that require more interior space. Additionally, EPB enhances vehicle safety by automatically applying the brake when the car is parked, reducing the risk of unintended movement. As manufacturers continue to innovate, the demand for EPB systems in South Korea remains on the rise, driven by the need for more advanced, user-friendly vehicles.
South Korea’s automotive EPS and EPB systems market is influenced by a variety of factors, including technological advancements, regulatory requirements, and consumer expectations. Industries are increasingly focused on developing vehicles that prioritize safety, energy efficiency, and user convenience. As automakers in South Korea strive to stay competitive in the global market, the incorporation of EPS and EPB technologies is becoming a crucial component of modern vehicle design.
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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. 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 South Korea 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
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea 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. South Korea Automotive EPS and EPB Systems Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Automotive EPS and EPB Systems Market, By Type
6. South Korea Automotive EPS and EPB Systems Market, By Application
7. South Korea Automotive EPS and EPB Systems Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Automotive EPS and EPB Systems Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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