Global Electric Power Steering System (EPS) Market Growth 2023-2029

Global Electric Power Steering System (EPS) Market Growth 2023-2029

Automotive Electronic Power Steering System is a very popular steering system, a power steering system that directly relies on the motor to provide auxiliary torque; Currently, most of the vehicle are installed the electronic power steering system, and the electronic power steering system can reduce about 5% fuel consumption.

LPI (LP Information)' newest research report, the “Electric Power Steering System (EPS) Industry Forecast” looks at past sales and reviews total world Electric Power Steering System (EPS) sales in 2022, providing a comprehensive analysis by region and market sector of projected Electric Power Steering System (EPS) sales for 2023 through 2029. With Electric Power Steering System (EPS) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Electric Power Steering System (EPS) industry.

This Insight Report provides a comprehensive analysis of the global Electric Power Steering System (EPS) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Electric Power Steering System (EPS) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Electric Power Steering System (EPS) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Electric Power Steering System (EPS) and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Electric Power Steering System (EPS).

The global Electric Power Steering System (EPS) market size is projected to grow from US$ 15550 million in 2022 to US$ 18230 million in 2029; it is expected to grow at a CAGR of 18230 from 2023 to 2029.

JTEKT, Bosch, NSK, Nexteer and ZF are the top 5 players of electric power steering system (EPS), with about 80% market shares.

China is the most important producing area for automotive electric power steering systems in the world, with a market share of more than 30%. In terms of type, P-EPS has a market share of about 40%. In the field of application, passenger vehicle accounts for more than 95% of the market.

This report presents a comprehensive overview, market shares, and growth opportunities of Electric Power Steering System (EPS) market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type

C-EPS

P-EPS

R-EPS

DP-EPS

Segmentation by application

Passenger Vehicle

Commercial Vehicle

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

JTEKT

Bosch

Nexteer Automobile

ZF

NSK

Hitachi Astemo (Showa )

Mobis

Thyssenkrupp

Mando

CAAS

Zhejiang Shibao

Elite

Yubei (Xinxiang) Power Steering System

Key Questions Addressed in this Report

What is the 10-year outlook for the global Electric Power Steering System (EPS) market?

What factors are driving Electric Power Steering System (EPS) market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Electric Power Steering System (EPS) market opportunities vary by end market size?

How does Electric Power Steering System (EPS) break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.