Global Electric Power Steering System (EPS) Market Growth 2025-2031

The global Electric Power Steering System (EPS) market size is predicted to grow from US$ 17450 million in 2025 to US$ 20530 million in 2031; it is expected to grow at a CAGR of 2.7% from 2025 to 2031.

Automotive Electronic Power Steering 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.

The global key producers of electric power steering system(EPS) are JTEKT, Bosch, Nexteer, ZF, NSK, Hitachi Astemo (Showa), Hyundai Mobis, and others. The top five producers have a total market share of 80%, with the largest producer being JTEKT with a 30% share. Global origins are mainly located in North America, Europe, China, Japan, etc., with China being the largest production region with a market share of 35%. In terms of product categories, C-EPS has the largest market share with 40%, followed by P-EPS and DP-EPS with 35% and 15% respectively. In terms of applications, passenger cars hold more than 90% of the market share, while commercial vehicles account for only 8%.

LP Information, Inc. (LPI) ' 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 2024, providing a comprehensive analysis by region and market sector of projected Electric Power Steering System (EPS) sales for 2025 through 2031. 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).

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.

Segmentation by Type:
C-EPS
P-EPS
DP-EPS
R-EPS

Segmentation by Application:
Passenger Car
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 analysing the company's coverage, product portfolio, its market penetration.
JTEKT
Bosch
Nexteer
ZF
NSK
Hitachi Astemo (Showa)
Hyundai Mobis
Thyssenkrupp
Mando
CAAS
Zhuzhou Elite
Yubei
Zhejiang Shibao

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 by Type, by Application?

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