Europe Automotive Electric Power Steering System Motor Market was valued at USD 7.5 Billion in 2022 and is projected to reach USD 12.0 Billion by 2030, growing at a CAGR of 6.6% from 2024 to 2030.
The Automotive Electric Power Steering (EPS) System Motor Market in Europe has seen significant growth in recent years, driven by technological advancements, increasing consumer demand for fuel-efficient vehicles, and the push for sustainability. The evolution of this market is shaped by various industry requirements, innovations in automotive design, and the shift toward electric vehicles (EVs).
The primary drivers of the Automotive Electric Power Steering System Motor Market are the benefits that electric power steering (EPS) offers over traditional hydraulic steering systems. EPS systems are lighter, more energy-efficient, and require less maintenance, making them an attractive choice for automakers looking to reduce overall vehicle weight and improve fuel efficiency. In addition, these systems offer better performance by providing precise control and adaptability to different driving conditions.
Key industries driving the demand for EPS systems in Europe include the automotive sector, where the need for steering systems that align with EV technology and autonomous driving systems is becoming paramount. As automakers increasingly shift towards EV production, the requirement for lightweight, energy-efficient, and reliable steering motors becomes more critical. Industry standards also push for systems that improve driver safety and comfort, further boosting the growth of the Automotive Electric Power Steering System Motor Market.
Technological advancements in EPS motor design, such as the integration of sensors and advanced electronics, are meeting the specific needs of the automotive industry. These innovations help reduce steering effort, enhance road feel, and support automated steering for self-driving vehicles. Manufacturers are also focusing on reducing noise, vibration, and harshness (NVH), as well as improving the overall efficiency of EPS motors. Additionally, the increasing focus on reducing carbon footprints and meeting stringent emissions regulations are pushing for more widespread adoption of electric power steering systems across the automotive industry.
As the demand for electric vehicles continues to grow, the Automotive Electric Power Steering System Motor Market is expected to expand even further. With manufacturers continually innovating to meet both consumer preferences and regulatory requirements, the market is poised for substantial growth in the coming years. The evolving nature of automotive technology, combined with industry needs for efficiency and performance, makes this market an exciting space for future development.
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Nidec
Bosch
Mitsubishi Electric
Denso
ZF
LG Innotek
Mitsuba
Mahle
Elite
Dare Auto
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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 Europe Automotive Electric Power Steering System Motor Market
Brushless DC Motors
Brush Motors
Stepper Motors
Other Types
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Electric Vehicles
Hybrid Vehicles
Column Assist
Rack Assist
Pinion Assist
Other Applications
Single Shaft Motors
Double Shaft Motors
Low Voltage (<48V)
Medium Voltage (48V-120V)
High Voltage (>120V)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
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1. Introduction of the Europe Automotive Electric Power Steering System Motor 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. Europe Automotive Electric Power Steering System Motor Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Automotive Electric Power Steering System Motor Market, By Type
6. Europe Automotive Electric Power Steering System Motor Market, By Application
7. Europe Automotive Electric Power Steering System Motor Market, By Geography
Europe
Germany
UK
France
8. Europe Automotive Electric Power Steering System Motor Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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