The global automotive electric power steering market size was accounted for over USD 19 billion in 2019 and expected to grow at a significant CAGR of around 6% by 2030.

The growing trend of self-driving vehicles is a major factor to drive the market growth globally. The increasing number of accidents each year is moving people to adopt better safety systems which are emerging trends in the automotive EPS market. The global automotive electric power steering (EPS) market is segmented into type, component type, vehicle type, and geography. On the basis of vehicle type, the passenger vehicle segment held the largest market share in 2019 and accounted for around 75% of the market share in terms of revenue. On the basis of region, the Asia Pacific held the largest market share of the global automotive EPS market in 2019 and expected to grow at the same trend over the forecast period.

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According to the recent report published by Research Corridor, the Global Automotive Electric Power Steering Market is expected to provide sustainable growth opportunities during the forecast period from 2023 to 2030. This latest industry research study analyzes the automotive electric power steering market by various product segments, applications, regions and countries while assessing regional performances of numerous leading market participants. The report offers a holistic view of the automotive electric power steering industry encompassing numerous stakeholders including raw material suppliers, providers, distributors, consumers and government agencies, among others. Furthermore, the report includes detailed quantitative and qualitative analysis of the global automotive electric power steering market considering market history, product development, regional dynamics, competitive landscape, and key success factors (KSFs) in the industry.

Geographically, the automotive electric power steering market report comprises dedicated sections centering on the regional market revenue and trends. The automotive electric power steering market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Automotive electric power steering market estimates have also been provided for the historical years 2020 & 2021 along with forecast for the period from 2023 - 2030. The report includes a deep-dive analysis of key countries including the U.S., Canada, the U.K., Germany, France, Italy, China, Japan, India, Australia, Mexico, Brazil and South Africa, among others. Thereby, the report identifies unique growth opportunities across the world based on trends occurring in various developed and developing economies.

Automotive electric power steering market report summarizes the positive growth rate in upcoming years, and market size with competitive analysis. Our experts have analyzed the historical data to compare with the current market scenario to calculate the market growth in the coming years. The study provides an exhaustive report that includes an executive summary, scope, and forecast of the market.

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The Automotive Electric Power Steering Market Segmentation:

By Type:

Column Type
Pinion Type
Dual Pinion Type

By Component Type:

Steering Rack/Column
Sensor
Steering Motor
Others

By Vehicle Type:

Passenger Cars
Commercial Vehicles

By Region:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

List of Key companies:

Some of the major market players operating in the global Automotive Electric Power Steering market are JTEKT Corporation, Nexteer Automotive, NSK Ltd, Hubei Henglong Auto System Group, Denso Corporation, Hyundai Mobis Co. Ltd., Mitsubishi Electric Corporation, Robert Bosch GmbH, Denso Corporation, GKN PLC, and ZF Friedrichshafen AG.

Key Questions Answered by Automotive Electric Power Steering Market Report:

Product popularity and adoption based on various country-level dynamics
Regional presence and product development for leading market participants
Market forecasts and trend analysis based on ongoing investments and economic growth in key countries
Competitive landscape based on revenue, product offerings, years of presence, number of employees and market concentration, among others
number of employees and market concentration, among others

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Automotive Electric Power Steering Market Size & Growth to 2030