Electric Power Steering Control Device Market size was valued at USD 8.1 Billion in 2022 and is projected to reach USD 12.3 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The Electric Power Steering (EPS) control device market is growing rapidly due to the increasing demand for fuel-efficient, eco-friendly, and advanced steering technologies. EPS systems are designed to reduce fuel consumption and offer enhanced driver control by using an electric motor to assist in steering, rather than the traditional hydraulic system. These systems are more energy-efficient, reduce weight, and require less maintenance, leading to their growing popularity across various vehicle segments. The application of EPS control devices is diverse, with the primary segments being commercial vehicles and passenger cars. These segments are expected to dominate the market due to their extensive use of steering assistance systems to improve driver comfort, safety, and vehicle handling.
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In the commercial vehicles segment, EPS control devices are increasingly becoming standard in the design of trucks, buses, and delivery vehicles. These vehicles require robust and reliable steering systems that can handle heavy loads and long-distance travel. EPS technology helps reduce steering effort, making it easier for drivers to maneuver large vehicles. The systems are also designed to enhance safety by offering better stability and response, especially under varying road conditions. Additionally, EPS systems help improve fuel efficiency, which is critical for commercial fleets that operate on tight margins. As governments worldwide push for stricter emission regulations, commercial vehicle manufacturers are increasingly adopting electric power steering systems to meet these sustainability requirements, further driving market growth in this segment.
The demand for EPS in commercial vehicles is also being driven by consumer expectations for increased comfort and convenience. Steering systems that reduce driver fatigue, especially in long-haul operations, contribute to a more ergonomic driving experience. With the global trend towards automation and smart vehicle technologies, EPS control devices are also being integrated with other advanced driver assistance systems (ADAS) and autonomous driving features. This trend is likely to shape the future of commercial vehicle design, with EPS playing a key role in the transition towards electric and automated vehicles. Overall, the commercial vehicle segment is poised for substantial growth as EPS control devices become a critical component of modern transportation solutions.
The passenger car segment is one of the largest and most rapidly growing markets for EPS control devices. The increasing focus on improving fuel efficiency, reducing emissions, and enhancing vehicle handling performance is driving the adoption of electric power steering systems in this segment. EPS systems in passenger cars offer significant advantages over traditional hydraulic steering systems, such as weight reduction, better steering response, and reduced power consumption. These advantages contribute to overall improvements in vehicle performance, including better maneuverability at low speeds and enhanced stability at higher speeds. Furthermore, the flexibility of EPS systems allows automakers to incorporate additional features such as lane-keeping assist, parking assistance, and automatic steering correction, which significantly enhance safety and convenience for drivers.
As the automotive industry shifts towards electric vehicles (EVs) and hybrid vehicles, the demand for EPS control devices in passenger cars is expected to grow even further. EPS systems are particularly well-suited for EVs, as they can operate efficiently with electric power, reducing the reliance on traditional hydraulic systems that require engine power. Additionally, the growing trend toward autonomous driving technology is also boosting the demand for EPS systems, as they provide the precise and responsive control needed for automated steering functions. The passenger car segment is expected to see continued innovation in EPS technology, with features such as adaptive steering and integration with connected vehicle platforms becoming increasingly common.
One of the key trends in the electric power steering control device market is the increasing integration of EPS systems with advanced driver assistance systems (ADAS) and autonomous driving technologies. As vehicle manufacturers focus on enhancing safety, comfort, and convenience, EPS systems are evolving to support features such as lane-keeping assist, automatic steering correction, and hands-free driving. These systems enable a higher level of vehicle automation, creating a more seamless and efficient driving experience. The convergence of EPS with ADAS and autonomous systems is a major trend shaping the future of steering technologies across all vehicle segments.
Another important trend is the growing demand for lightweight and energy-efficient steering systems. EPS devices are significantly lighter than traditional hydraulic systems, contributing to fuel savings and improved vehicle performance. In electric and hybrid vehicles, where energy efficiency is paramount, the use of EPS systems is becoming more widespread. Additionally, as environmental regulations tighten, automakers are under pressure to reduce the carbon footprint of their vehicles, and EPS technology offers a viable solution by lowering energy consumption and reducing emissions. These factors are expected to drive the continued adoption of EPS control devices, especially in the commercial vehicle and passenger car segments.
One of the major opportunities in the EPS control device market lies in the rapid growth of electric vehicles (EVs) and hybrid vehicles. As these vehicles become more mainstream, the demand for EPS systems that are optimized for electric power is expected to surge. EVs, in particular, benefit from the weight savings and energy efficiency provided by EPS technology. Manufacturers that specialize in electric steering systems have the opportunity to tap into this growing market and contribute to the design and development of next-generation vehicles. As governments and consumers increasingly prioritize sustainability, EPS control devices are positioned to become a core component of future vehicle architectures.
Additionally, the increasing focus on autonomous vehicles presents a significant opportunity for EPS system manufacturers. Autonomous vehicles rely heavily on precise and responsive steering systems, and EPS technology is well-suited to meet these requirements. The integration of EPS with autonomous driving systems opens up new avenues for innovation and growth, particularly as vehicle automation continues to advance. Manufacturers can leverage this trend by developing EPS solutions that not only enhance the driving experience but also support the transition to fully autonomous vehicles. With the rise of smart cities and interconnected transportation networks, EPS systems will play a key role in shaping the future of mobility.
1. What is the purpose of an electric power steering control device?
An electric power steering control device assists in steering the vehicle by using an electric motor, improving handling and reducing fuel consumption.
2. How does electric power steering differ from hydraulic steering?
Electric power steering uses an electric motor to assist steering, while hydraulic systems rely on fluid pressure from the engine to provide steering assistance.
3. What are the advantages of electric power steering in vehicles?
EPS systems offer improved fuel efficiency, reduced weight, lower maintenance, and better steering performance compared to traditional hydraulic systems.
4. Are electric power steering systems used in all types of vehicles?
EPS systems are increasingly being adopted in both passenger cars and commercial vehicles, including trucks and buses, due to their benefits in performance and efficiency.
5. What role does electric power steering play in autonomous vehicles?
EPS is essential for autonomous vehicles as it provides precise, responsive control for automated steering, enhancing vehicle stability and safety.
6. What are the key factors driving the growth of the EPS market?
Growing demand for fuel-efficient, lightweight vehicles, and the adoption of advanced driver assistance systems (ADAS) are major drivers of the EPS market.
7. How does EPS contribute to fuel efficiency in vehicles?
EPS systems use less power than traditional hydraulic systems, leading to reduced engine load and, consequently, better fuel efficiency.
8. What is the market outlook for EPS control devices in commercial vehicles?
The market for EPS control devices in commercial vehicles is expected to grow significantly due to increased demand for safety, comfort, and fuel efficiency.
9. How are electric power steering systems integrated with other vehicle technologies?
EPS systems are often integrated with ADAS features, such as lane-keeping assist and automatic steering correction, to enhance driver safety and convenience.
10. What are the environmental benefits of using electric power steering?
EPS systems reduce fuel consumption and emissions by using electric motors instead of hydraulic systems, contributing to greener vehicle performance.
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Top Electric Power Steering Control Device Market Companies
Bosch
Hitachi
Hyundai Mobis
JTEKT
Mando
Nexteer
NSK
Thyssenkrupp
ZF
Regional Analysis of Electric Power Steering Control Device 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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Electric Power Steering Control Device Market Insights Size And Forecast