Electric Power Assisted Steering Systems Market size was valued at USD 10.12 Billion in 2024 and is projected to reach USD 16.45 Billion by 2033, exhibiting a CAGR of 5.7% from 2026 to 2033.
The Electric Power Assisted Steering (EPAS) Systems market was valued at approximately USD 25.5 billion in 2022, with a projected compound annual growth rate (CAGR) of 7.5% from 2023 to 2030. The market is primarily driven by the growing demand for fuel efficient vehicles, enhanced driving comfort, and the increasing adoption of electric vehicles. Additionally, the integration of advanced driver assistance systems (ADAS) and autonomous driving technologies has spurred the growth of EPAS, as these systems provide more precise control and are more energy efficient compared to traditional hydraulic steering. In terms of regional analysis, North America accounted for a significant share in 2022, holding about 30% of the market share, driven by the robust automotive industry in the U.S. and Canada. Europe is expected to see a steady rise in market share due to the increasing production of electric vehicles and stringent regulatory frameworks regarding vehicle emissions.
In Asia Pacific, the EPAS market is anticipated to grow rapidly, owing to the high production and demand for passenger and commercial vehicles in countries like China, India, and Japan. The region is expected to exhibit a CAGR of 8.2% from 2023 to 2030, contributing significantly to the global market. Furthermore, the increasing adoption of electric vehicles (EVs) and government incentives for sustainable transportation in countries like China are set to drive further demand for EPAS systems. The Middle East and Africa, along with Latin America, are anticipated to have moderate growth due to developing automotive industries, with a growing focus on fuel efficient technologies and expanding automotive production capacity. The EPAS market in these regions is expected to experience steady expansion in the coming years.
Get | Download Sample Copy with TOC, Graphs & List of Figures @ http://verifiedmarketreports.com/download-sample/?rid=617470&utm_source=Google_site_G_April&utm_medium=227
JTEKT
Bosch
NSK
Nexteer
ZF
Mobis
Showa
Thyssenkrupp
Mando
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.
Get Discount On The Purchase Of This Report @ https://www.verifiedmarketreports.com/ask-for-discount/?rid=617470&utm_source=Google_site_G_April&utm_medium=227
Growing demand for below applications around the world has had a direct impact on the growth of the Global Electric Power Assisted Steering Systems Market
Electric
Hydraulic
Electro-hydraulic
Column Assist
Rack Assist
Electric Motor
Electronic Control Unit (ECU)
Torque Sensor
Steering Gear
Passenger Cars
Commercial Vehicles
Electric Vehicles
Automobile
Motorcycles
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)
For More Information or Query, Visit @ https://www.verifiedmarketreports.com/product/electric-power-assisted-steering-systems-market/
1. Introduction of the Global Electric Power Assisted Steering 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 Electric Power Assisted Steering Systems Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Electric Power Assisted Steering Systems Market, By Type
6. Global Electric Power Assisted Steering Systems Market, By Application
7. Global Electric Power Assisted Steering Systems Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Electric Power Assisted Steering Systems Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Research and Consulting firm servicing over 5000+ US clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/