Electrically Powered Steering Column Drive Market size is estimated to be USD 3.1 Billion in 2024 and is expected to reach USD 5.8 Billion by 2033 at a CAGR of 7.1% from 2026 to 2033.
The South Korean Electrically Powered Steering Column Drive Market is experiencing significant growth, driven by the demand for improved vehicle safety, comfort, and overall driving experience. As electric vehicles (EVs) and advanced driver-assistance systems (ADAS) gain traction, the need for efficient, adaptable, and precise steering solutions has increased substantially. Electrically powered steering column drives (EPS) are becoming a preferred choice for automakers, offering reduced weight, lower energy consumption, and enhanced control over traditional mechanical systems.
Key players in the South Korean automotive sector are embracing EPS technology to meet both regulatory requirements and consumer expectations. Industry experts highlight that the shift towards electric power steering, especially in compact and mid-size vehicles, is a crucial development. The growing preference for EVs, which often require more compact and space-efficient solutions, has further boosted the adoption of EPS in South Korea.
The electrically powered steering column drive market is largely influenced by industry requirements for better energy efficiency and precise steering response. Automakers are focused on offering customizable solutions that meet varying consumer needs, from city commuters to high-performance vehicles. Notably, this market is also driven by the increasing demand for safety features such as lane-keeping assistance, automated parking, and other advanced safety features embedded in steering systems.
Technological advancements are another major factor contributing to the growth of the EPS market. South Korean manufacturers are at the forefront of developing smart, integrated steering systems that connect seamlessly with other vehicle systems. These systems not only enhance driver comfort but also offer vehicle manufacturers a competitive edge by incorporating features like variable steering ratios and improved torque feedback.
The adoption of EPS technology also aligns with South Korea's push for sustainability, as manufacturers seek to reduce emissions and optimize fuel efficiency. This trend is accelerating with government regulations encouraging automakers to adopt more energy-efficient and environmentally friendly technologies.
With continuous technological improvements and increased demand from the automotive industry, the South Korean Electrically Powered Steering Column Drive Market is poised for further expansion. The future of this market will largely depend on innovations that blend performance, energy efficiency, and consumer safety, setting new standards in automotive steering solutions.
Get an In-Depth Research Analysis of the South Korea Electrically Powered Steering Column Drive Market Size And Forecast [2025-2032]
TRW
Dayco
Herald Wheels
Motor Mechanic
ZF
Nexteer
NSK
JTEKT
Marimba Auto
Continental
Kostal Of America
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 Electrically Powered Steering Column Drive Market
Electric Power Steering (EPS)
Column Drive Units
Rack and Pinion Systems
Steer-by-Wire Systems
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Electric Vehicles (EVs)
Automotive Industry
Aerospace Industry
Marine Applications
Industrial Machinery
Conventional Electrical Systems
Intelligent Steering Control Systems
Feedback Control Mechanisms
Adaptive Steering Technologies
Electric Motors
Control Units
Sensors
Steering Columns
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Electrically Powered Steering Column Drive 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 Electrically Powered Steering Column Drive Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Electrically Powered Steering Column Drive Market, By Type
6. South Korea Electrically Powered Steering Column Drive Market, By Application
7. South Korea Electrically Powered Steering Column Drive Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Electrically Powered Steering Column Drive Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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