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Automotive Electric Power Steering (EPS) Market

Automotive Electric Power Steering (EPS) Market

Automotive Electric Power Steering (EPS) Market Global Industry Assessment & Forecast

# Pages:


Base Year:


Nov - 2021


Report Code:


Segments Covered
  • By Component Type Steering Rack/Column, Sensor, Steering Motor, Other Component Types
  • By Type Column Type, Pinion Type, Dual Pinion Type
  • By Vehicle Type Passenger Car, Commercial Vehicle
Forecast YearsForecast Years: 2021 - 2028
Historical YearsHistorical Years: 2016 - 2020
Revenue 2021Revenue 2021: 20.12 Billion
Revenue 2028Revenue 2028: 33.91 Billion
Revenue CAGRRevenue CAGR (2021 - 2028): 6.72%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Sr. No. Offering Report Coverage
1. Market Size In terms of Revenue (USD Million)
2. Historic Data 2015 to 2019
3. Forecast Data 2021 to 2028
4. Market Drivers, Restraints, Opportunities, & Regional Market Trends Yes
5. Market Attractiveness Analysis Yes
6. Segment Analysis Maximum Segments
7. Regional Coverage 5 Regions
8. Country Coverage Top 22 Countries
9. Competitive Landscape and Company Market Share Analysis Yes. Exhaustive information will be provided in two separate chapters of Competitive Landscape and Company Profiles.
10. Porter’s Five Forces Analysis Yes.
11. Value Chain Analysis Yes
12. PEST Analysis Yes
13. Regulatory Landscape Yes
14. Technology Landscape Yes
15. COVID-19 Impact Analysis Yes. Exhaustive information for Key Strategies Undertaken by Companies, Impact Assessment of the COVID-19 Pandemic by Region, along with Short-term and Long-term dynamics.
16. Top startups to watch out for Yes
17. Top 3 Trends to Watch Yes
18. Top 3 Strategies Followed by Major Players Yes
19. Top 3 Predictions by Vantage Market Research Yes
20. Discussion Guide Yes
21. Key Primary Respondents - VERBATIM Yes
22. Transcripts from the Primary Respondents Additional Cost USD 1,000
23. Others/Miscellaneous
Frequently Asked Question
  • The global Automotive Electric Power Steering (EPS) valued at 20.12 Billion in 2020 and is expected to reach 33.91 Billion in 2028 growing at a CAGR of 6.72%%.

  • The prominent players in the market are GKN PLC, Hyundai Mobis Co. Ltd., Thyssenkrupp Presta AG, Mitsubishi Electric Corporation, Nexteer Automotive, Hitachi Automotive Systems Ltd, ZF Friedrichshafen AG, Robert Bosch GmbH, Hubei Henglong Auto System Group, JTEKT Corporation, Denso Corporation, NSK Ltd..

  • The market is project to grow at a CAGR of 6.72%% between 2021 and 2028.

  • The driving factors of the Automotive Electric Power Steering (EPS) include

    • The increasing government initiatives for safer automotive systems are anticipated to augment the growth of the automotive electric power steering (EPS) market during the forecast period. This is owing to the increasing percentage of the road accidents taking place. About 1.24 million people die in road accidents each year on an average across the world, half of whom are vulnerable road users, such as pedestrians and motorcyclists, while the other half die because of side-impact accidents. According to the World Health Organization (WHO), 80% of cars sold in the world are not compliant with the main safety standards. Only 40 countries have adopted the full set of the seven most important regulations for car safety. The significant increase in the number of accidents has encouraged consumers to adopt for better safety systems in their vehicles. Several automobile manufacturers are incorporating new technologies like direct adaptive steering in vehicles, which involves sensors in the car that constantly monitor the position of the steering wheel are factors driving the market
    • The rising vehicle sale across the globe is anticipated to augment the growth of the automotive electric power steering (EPS) market during the forecast period. This is owing to the rapid urbanization, increasing industrialization, increasing disposable income of the consumers, and advancement in technologies. Furthermore, the increasing adoption of personal vehicles with luxurious features has also increased the global sales of automobiles and its production by the manufacturers which in turn is expected to support the growth of the automotive electric power steering (EPS) market in the forecast period.

  • Asia Pacific was the leading regional segment of the Automotive Electric Power Steering (EPS) in 2020.