Global Electric Power Steering Market

Electric Power Steering Market Size, Share, Growth Analysis, By Components (Steering column, Sensors), By Electric Motor (Brush motor, Brushless motor), By Electric Vehicle (BEV, PHEV), By EV Gear Type, By Type, By Region - Industry Forecast 2026-2033

Report ID: SQMIG25C2115 | Region: Global | Published Date: February, 2025
Pages: 223 |Tables: 98 |Figures: 76

To request a free sample copy of this report, please complete the form below.

Our Clients

  • Schineder Electric
  • KSIA - Korea Semiconductor Industry Association
  • Hitachi Astemo Limited
  • Samsung Electronics
  • Halvo holdings
  • NTT corporation
  • AGC Inc
  • Siemens AG
  • Unilever
  • Merck Pharmaceuticals
  • Atlas Copco
  • Hologic - Medical Technology company
  • Novartis
  • Henkel
  • Reckitt
  • Schineder Electric
  • KSIA - Korea Semiconductor Industry Association
  • Hitachi Astemo Limited
  • Samsung Electronics
  • Halvo holdings
  • NTT corporation
  • AGC Inc
  • Siemens AG
  • Unilever
  • Merck Pharmaceuticals
  • Atlas Copco
  • Hologic - Medical Technology company
  • Novartis
  • Henkel
  • Reckitt

    • FAQs

    Electric Power Steering Market size was valued at USD 28.62 Billion in 2024 and is poised to grow from USD 30.22 Billion in 2025 to USD 46.73 Billion by 2033, growing at a CAGR of 5.6% during the forecast period (2026–2033).

    Electric power steering companies should focus on improving the steering feedback to make it feel more like conventional steering that people are used to. Collaborating and partnering with automotive companies will be a key strategy for all electric power steering companies. Launching new electric power steering systems with advanced features will also help market players stand out in the competitive landscape in the future.  'JTEKT Corporation (Japan)', 'Nexteer Automotive (United States) ', 'NSK Ltd. (Japan) ', 'Mitsubishi Electric Corporation (Japan) ', 'Hyundai Mobis Co., Ltd. (South Korea) ', 'Thyssenkrupp AG (Germany) ', 'Hitachi Astemo, Ltd. (Japan) ', 'Robert Bosch GmbH (Germany) ', 'ZF Friedrichshafen AG (Germany) ', 'Delphi Technologies (United Kingdom) ', 'Tenneco Inc. (United States) ', 'GKN Automotive (United Kingdom) ', 'Mando Corporation (South Korea) ', 'SHOWA Corporation (Japan) ', 'DENSO Corporation (Japan) ', 'Johnson Electric Holdings Limited (Hong Kong) ', 'FZB (Fujian Zhenyun Auto Parts Co., Ltd.) (China) ', 'China Automotive Systems, Inc. (China) ', 'KYB Corporation (Japan) ', 'BorgWarner Inc. (United States)'

    Consumers around the world are demanding a comfortable driving experience and this is why automotive companies are promoting the use of electric power steering systems. Smoother and more responsive steering characteristics of electric power steering systems are helping them become a popular choice among vehicle owners thereby driving market development potential as well.  

    Steer-by-Wire Technology: Electric power steering companies should focus on expanding their business scope by investing in the popular steer-by-wire technology. Steer-by-wire operates completely through electronic controls, allowing for more flexible and customizable steering responses. Steer-by-wire is expected to enhance vehicle design, reduce weight, and improve driving dynamics especially for autonomous and electric vehicles.  

    The presence of key automotive giants and a robust automotive manufacturing industry in the Asia Pacific region makes it the leading market for all electric power steering companies. The imposition of strict vehicle emission control mandates, rising sales of electric vehicles, growing disposable income of people, and evolving consumer preferences are all expected to drive up the demand for electric power steering in this region. China is slated to be the largest market for electric power steering companies in the Asia Pacific region owing to high sales of electric vehicles. India, South Korea, and Japan are other opportune markets for market players looking to make a mark in this region.  

    Related Reports

    Automotive Electric Power Steering Market
    Buy Now GET FREE SAMPLE
    Electric Steering System Market
    Buy Now GET FREE SAMPLE
    Power Assisted Steering Market
    Buy Now GET FREE SAMPLE
    Automotive Steering System Market
    Buy Now GET FREE SAMPLE
    Electric Vehicle (EV) Market
    Buy Now GET FREE SAMPLE
    Electric Vehicle (EV) Powertrain Market
    Buy Now GET FREE SAMPLE
    Electric Car Market
    Buy Now GET FREE SAMPLE
    Special Purpose Electric Vehicle (EV) Market
    Buy Now GET FREE SAMPLE

    Feedback From Our Clients

    Global Electric Power Steering Market

    Report ID: SQMIG25C2115

    $5,300
    BUY NOW