The Electric Power Steering System Market size was valued at USD 19.4 Billion in 2023. The Electric Power Steering System industry is projected to grow from USD 20.42 Billion in 2024 to USD 29.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.65% during the forecast period (2024 - 2032). Government regulations and standards for fuel-efficient technologies, OEM initiatives worldwide to make their vehicles lighter and simpler, and rising vehicle production are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review
The increased focus on safer automotive systems drives Market CAGR for electric power steering systems. Approx. 1.24 million people lose their li in road accidents each year on average worldwide; half of them are vulnerable road users like walkers and motorcycle riders, and the other half are victims of side-impact collisions. 80% of cars sold worldwide, according to the World Health Organization (WHO), do not meet the essential safety requirements. Forty nations have only implemented the complete set of the seven most crucial standards for auto safety.
The incidence of incidents has significantly increased, which has prompted end users to adopt improved safety measures. In all first-world nations, accident and fatality rates have consistently decreased thanks to road and vehicle design advancements. Governments are focusing on enforcing strict safety regulations and encouraging the adoption of various car subsystems because accident rates are still higher in some developing nations.
OEMs are incorporating advanced sensors into EPS to enhance the system's overall functionality and vehicle safety. The electric power steering (EPS) system uses several steering sensors to give the driver additional safety advantages. Furthermore, the development of advanced steering systems (like EPS), which heavily rely on steering sensors, is considered to be greatly influenced by the adoption of strict fuel economy criteria by governments and international safety regulations. A new automotive R&D Competence Centre in Budapest has received a EUR 6.2 million investment from ThyssenKrupp to develop electromechanical power steering systems with various driver assistance and self-driving systems.
Several nations have implemented stringent regulations governing automobile emissions and fuel efficiency. Regulatory bodies include the US NHTSA, the European ICCT, and other organizations implementing fleet-level regulations. These specifications set a minimum emission level that automakers must follow. These regulations have compelled automakers to invest more in fuel-efficient steering systems, such as electric power steering. Players are working together and designing cutting-edge steering systems to meet these needs. Thus, driving the electric power steering system market revenue.
OEMs have recently moved their attention from hydraulic to electric power steering systems to simplify and boost efficiency. EPS systems assist in steering by using an electric motor rather than a hydraulic pump, which helps to lighten the car's weight. The amount of steering power being exerted by the driver is calculated by electronic sensors. With the aid of an electric motor, the force is amplified to simplify steering. Currently, hydraulic power steering (HPS), which has a complex structure, consumes a lot of power, leaks quickly, and is challenging to control, dominate the market for power steering in commercial vehicles. The benefits of EPS include customizable power, superb steering, minimal fuel usage, and zero pollution. As a result, commercial cars would eventually begin to use it.
Based on type, the Electric Power Steering System Market segmentation includes C-EPS, R-EPS and P-EPS. According to estimates, the R-EPS is the fastest-growing category by type. The rising rate of EPS installation in commercial vehicles is one of the factors boosting this market segment. Mostly found in huge commercial vehicles, rack EPS (R-EPS). Therefore, the rise of R-EPS systems would be prompted by the rising popularity of EPS in large commercial vehicles.
The Electric Power Steering System Market segmentation, based on vehicle type, includes Passenger Vehicles, Light Commercial Vehicles and Heavy Commercial Vehicles. The passenger vehicle segment held a market share of 55.61% in 2022 due to increased sales and production of passenger cars across major countries such as India, China and the US. Over the predicted period, it is also expected to grow at the fastest CAGR.
Figure 1: Electric Power Steering System Market by Vehicle Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review
Based on mechanism, the Electric Power Steering System Market segmentation includes collapsible and rigid EPS. The collapsible category led the market. The employment of a collapsible electric power steering system has grown as the age of modern technology has arrived. Both electric and conventional automobiles frequently employ collapsible electric power steering systems.
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The market is dominated by Asia-Pacific, with China dominating, followed by India and Japan. Over the forecast period, this dominance is anticipated to continue. Chinese passenger car production hit 996,000 units in April 2022 and sales at 965,000. Due to this, production and sales have decreased by 41.9% and 43.4%, respectively, from the previous year. The output of passenger cars fell 2.6% year over year from January through April 2022, totaling 6,494 million units. The presence of many local and international players distinguishes the nation.
Joint partnerships with local businesses are the most common way international enterprises enter the Chinese market. For instance, Dongfeng Nexteer Steering Systems (Wuhan) Co. Ltd. was established through an agreement between Nexteer Automotive and Dongfeng Motor Parts & Components Group. This new business will make single-pinion assist electric power steering (SPEPS) systems. Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Electric Power Steering System Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review
Europe's electric power steering system market accounts for the second-largest market share due to increasing demand of advanced steering assist mechanisms in premium passenger vehicles in the region. Further, the German electric power steering system market held the largest market share, and the UK electric power steering system market was the fastest growing market in the European region.
The North America Electric Power Steering System Market is expected to grow fastest from 2024 to 2032 as the sales of luxury cars equipped with advanced power steering system is expected to increase. Moreover, US electric power steering system market held the largest market share, and the Canadian electric power steering system market was the fastest growing market in the North American region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the electric power steering system market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global electric power steering system industry to benefit clients and increase the market sector. In recent years, the electric power steering system industry has offered some of the most significant advantages to medicine. Major players in the electric power steering system market include Showa Corporation (Japan), Nexteer Automotive (US), JTEKT Corporation (Japan), Thyssenkrupp AG (Germany), Hyundai Mobis (South Korea), ZF Friedrichshafen AG (Germany), and Robert Bosch GmbH, and others, are attempting to increase market demand by investing in research and development operations.
Auburn Hills, Michigan, serves as the corporate headquarters for the American automotive supplier BorgWarner Inc. As of June 6th, 2022, the corporation employs 49,000 people and operates production facilities and technical systems at 93 locations across 22 nations. One of the top 25 global suppliers to the automotive industry is BorgWarner. Since August 1st, 2018, Frédéric Lissalde has served as CEO of BorgWarner Inc. Delphi Technologies was purchased by BorgWarner in October 2020 for USD 3.3 billion in stock. A leader in electrified propulsion is projected to be created due to the purchase, which is anticipated to boost BorgWarner's electronics and power electronics product range, capabilities, and scale.
ZF is a leading chassis and driveline technology producer for cars and trucks, as well as specialized plant machinery like construction equipment. In addition to normal industrial applications, it is also involved in the rail, maritime, defense, and aviation industries. ZF employs over 165,000 people across 168 production sites in 32 nations. ZF Friedrichshafen AG purchased WABCO for USD 7 billion in May 2020.
The Commercial Vehicle Control Systems Division of WABCO has now been incorporated into ZF, and together with WABCO, ZF will create a globally integrated system for commercial vehicle technology. In the past, WABCO and ZF collaborated to create systems like Evasive Manoeuvre Assist for commercial trucks to reduce collisions. Additionally, ZF relied heavily on WABCO as a supplier of braking systems.
Toyota Motor Corporation (Toyota) sold Yutaka Seimitsu Kogyo Ltd. shares to JTEKT. Yutaka makes and distributes gears for various machinery as well as automotive components. The agreement aims to make Toyota and JTEKT's primary driveline operations more competitive. JTEKT will take over from Toyota for all Yutaka operations involving drive components.
In China's Liuzhou's Liudong New District, Nexteer inaugurated a new facility. Customers will receive C-EPS (column-assist electric power steering) systems, related technology, and services from this new 12,000-square-meter facility. To address the rising demand for electric power steering systems in the Chinese and Asia Pacific markets, opening the new plant will increase Nexteer's manufacturing capacity in the region.
To manufacture electric power steering (EPS) systems, NSK Ltd.'s joint venture Rane NSK Steering Systems Pvt. Ltd., built a new facility in Gujarat (India). The facility has a 5,200 square meter floor area and an 18,000 square meter plot of land. The investment is a component of the company's strategic expansion plan. The business will produce 250,000 electric power steering systems annually.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 19.4 Billion |
| Market Size 2024 | USD 20.42 Billion |
| Market Size 2032 | USD 29.4 Billion |
| Compound Annual Growth Rate (CAGR) | 4.65% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2023 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Showa Corporation (Japan), Nexteer Automotive (US), JTEKT Corporation (Japan), Thyssenkrupp AG (Germany), Hyundai Mobis (South Korea) and ZF Friedrichshafen AG (Germany) |
| Key Market Opportunities | Government programs and increased focus on safer automotive systems |
| Key Market Dynamics | OEMs took global steps to simplify and lighten cars |
Electric Power Steering System Market Highlights:
Frequently Asked Questions (FAQ):
The Electric Power Steering System Market size was valued at USD 19.4 Billion in 2023.
The global market is projected to grow at a CAGR of 4.65% during the forecast period, 2024-2032.
Asia Pacific had the largest share of the global market
The key players in the market are Showa Corporation (Japan), Nexteer Automotive (US), JTEKT Corporation (Japan), Thyssenkrupp AG (Germany), Hyundai Mobis (South Korea) and ZF Friedrichshafen AG (Germany).
The R-EPS dominated the market in 2022.
Passenger vehicles had the largest share of the global market.
Electric Power Steering System Market Segmentation
Electric Power Steering System Market Type Outlook (USD Billion, 2018-2032)
C-EPS
R-EPS
P-EPS
Electric Power Steering System Market Vehicle Type Outlook (USD Billion, 2018-2032)
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
Electric Power Steering System Market Mechanism Outlook (USD Billion, 2018-2032)
Collapsible EPS
Rigid EPS
Electric Power Steering System Market Regional Outlook (USD Billion, 2018-2032)
North America Electric Power Steering System Market Outlook (USD Billion, 2018-2032)
North America Market by Engine Type
C-EPS
R-EPS
P-EPS
North America Market by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
North America Market by Mechanism
Collapsible EPS
Rigid EPS
US Outlook (USD Billion, 2018-2032)
US Market by Engine Type
C-EPS
R-EPS
P-EPS
US Market by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
US Market by Mechanism
Collapsible EPS
Rigid EPS
CANADA Outlook (USD Billion, 2018-2032)
CANADA Market by Engine Type
C-EPS
R-EPS
P-EPS
CANADA Market by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
CANADA Market by Mechanism
Collapsible EPS
Rigid EPS
Europe Electric Power Steering System Market Outlook (USD Billion, 2018-2032)
Europe Market by Engine Type
C-EPS
R-EPS
P-EPS
Europe Market by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
Europe Market by Mechanism
Collapsible EPS
Rigid EPS
Germany Outlook (USD Billion, 2018-2032)
Germany Market by Engine Type
C-EPS
R-EPS
P-EPS
Germany Market by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
Germany Market by Mechanism
Collapsible EPS
Rigid EPS
France Outlook (USD Billion, 2018-2032)
France Market by Engine Type
C-EPS
R-EPS
P-EPS
France Market by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
France Market by Mechanism
Collapsible EPS
Rigid EPS
UK Outlook (USD Billion, 2018-2032)
UK Market by Engine Type
C-EPS
R-EPS
P-EPS
UK Market by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
UK Market by Mechanism
Collapsible EPS
Rigid EPS
ITALY Outlook (USD Billion, 2018-2032)
ITALY Market by Engine Type
C-EPS
R-EPS
P-EPS
ITALY Market by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
ITALY Market by Mechanism
Collapsible EPS
Rigid EPS
SPAIN Outlook (USD Billion, 2018-2032)
Spain Market by Engine Type
C-EPS
R-EPS
P-EPS
Spain Market by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
Spain Market by Mechanism
Collapsible EPS
Rigid EPS
Rest Of Europe Outlook (USD Billion, 2018-2032)
Rest of Europe Market by Engine Type
C-EPS
R-EPS
P-EPS
Rest of Europe Market by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
Rest of Europe Market by Mechanism
Collapsible EPS
Rigid EPS
Asia-Pacific Electric Power Steering System Market Outlook (USD Billion, 2018-2032)
Asia-Pacific Market by Engine Type
C-EPS
R-EPS
P-EPS
Asia-Pacific Market by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
Asia-Pacific Market by Mechanism
Collapsible EPS
Rigid EPS
China Outlook (USD Billion, 2018-2032)
China Market by Engine Type
C-EPS
R-EPS
P-EPS
China Market by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
China Market by Mechanism
Collapsible EPS
Rigid EPS
Japan Outlook (USD Billion, 2018-2032)
Japan Market by Engine Type
C-EPS
R-EPS
P-EPS
Japan Market by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
Japan Market by Mechanism
Collapsible EPS
Rigid EPS
India Outlook (USD Billion, 2018-2032)
India Market by Engine Type
C-EPS
R-EPS
P-EPS
India Market by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
India Market by Mechanism
Collapsible EPS
Rigid EPS
Australia Outlook (USD Billion, 2018-2032)
Australia Market by Engine Type
C-EPS
R-EPS
P-EPS
Australia Market by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
Australia Market by Mechanism
Collapsible EPS
Rigid EPS
Rest of Asia-Pacific Outlook (USD Billion, 2018-2032)
Rest of Asia-Pacific Market by Engine Type
C-EPS
R-EPS
P-EPS
Rest of Asia-Pacific Market by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
Rest of Asia-Pacific Market by Mechanism
Collapsible EPS
Rigid EPS
Rest of the World Electric Power Steering System Market Outlook (USD Billion, 2018-2032)
Rest of the World Market by Engine Type
C-EPS
R-EPS
P-EPS
Rest of the World Market by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
Rest of the World Market by Mechanism
Collapsible EPS
Rigid EPS
Middle East Outlook (USD Billion, 2018-2032)
Middle East Market by Engine Type
C-EPS
R-EPS
P-EPS
Middle East Market by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
Middle East Market by Mechanism
Collapsible EPS
Rigid EPS
Africa Outlook (USD Billion, 2018-2032)
Africa Market by Engine Type
C-EPS
R-EPS
P-EPS
Africa Market by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
Africa Market by Mechanism
Collapsible EPS
Rigid EPS
Latin America Outlook (USD Billion, 2018-2032)
Latin America Market by Engine Type
C-EPS
R-EPS
P-EPS
Latin America Market by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
Latin America Market by Mechanism
Collapsible EPS
Rigid EPS
1 EXECUTIVE SUMMARY
1.1 MARKET ATTRACTIVENESS ANALYSIS
1.1.1 GLOBAL ELECTRIC POWER STEERING MARKET, BY TYPE
1.1.2 GLOBAL ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE
1.1.3 GLOBAL ELECTRIC POWER STEERING MARKET, BY MECHANISM
1.1.4 GLOBAL ELECTRIC POWER STEERING MARKET, BY REGION
2 MARKET INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 TOP-DOWN AND BOTTOM-UP APPROACH
3.6 FORECAST MODEL
3.7 LIST OF ASSUMPTIONS
4 MARKET INSIGHTS
5 MARKET DYNAMICS
5.1 INTRODUCTION
5.2 DRIVERS
5.2.1 ROAD ACCIDENT DEATHS
5.2.2 INCREASE IN SALE OF EV AND LUXURY VEHICLES
5.2.3 DRIVER IMPACT ANALYSIS
5.3 RESTRAINTS
5.3.1 HIGH COST AS COMPARED TO OTHER STEERING SYSTEM
5.3.2 RESTRAINT IMPACT ANALYSIS
5.4 OPPORTUNITY
5.4.1 RISING ADOPTION IN DEVELOPED COUNTRIES
5.5 COVID-19 IMPACT ANALYSIS
5.5.1 ECONOMIC IMPACT ON AUTOMOTIVE INDUSTRY
5.5.2 IMPACT ON AUTOMOTIVE PRODUCTION
5.5.3 VARIED PRODUCTION RHYTHMS
5.5.4 IMPACT ON ELECTRIC POWER STEERING SYSTEMS INDUSTRY
6 MARKET FACTOR ANALYSIS
6.1 PORTER’S FIVE FORCES MODEL
6.1.1 THREAT OF NEW ENTRANTS
6.1.2 BARGAINING POWER OF SUPPLIERS
6.1.3 THREAT OF SUBSTITUTES
6.1.4 BARGAINING POWER OF BUYERS
6.1.5 INTENSITY OF RIVALRY
6.2 SUPPLY CHAIN ANALYSIS
6.2.1 DESIGN & DEVELOPMENT
6.2.2 COMPONENT SUPPLY
6.2.3 MANUFACTURE/ASSEMBLY
6.2.4 END USE
7 GLOBAL ELECTRIC POWER STEERING MARKET, BY TYPE
7.1 OVERVIEW
7.1.1 R-EPS
7.1.2 P-EPS
7.1.3 C-EPS
8 GLOBAL ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE
8.1 OVERVIEW
8.1.1 PASSENGER CARRYING VEHICLE (PCV)
8.1.2 LIGHT COMMERCIAL VEHICLE (LCV)
8.1.3 HEAVY COMMERCIAL VEHICLE (HCV)
9 GLOBAL ELECTRIC POWER STEERING MARKET, BY MECHANISM
9.1 OVERVIEW
9.1.1 COLLAPSIBLE-EPS
9.1.2 RIGID EPS
10 GLOBAL ELECTRIC POWER STEERING MARKET, BY REGION
10.1 OVERVIEW
10.1.1 GLOBAL ELECTRIC POWER STEERING MARKET, BY REGION, 2024-2032
10.2 EUROPE
10.2.1 EUROPE MARKET, BY COUNTRY, 2024-2032
10.2.2 EUROPE MARKET, BY TYPE, 2024-2032
10.2.3 EUROPE MARKET, BY VEHICLE TYPE, 2024-2032
10.2.4 EUROPE MARKET, BY MECHANISM, 2024-2032
10.2.5 GERMANY
10.2.6 UK
10.2.7 FRANCE
10.2.8 SPAIN
10.2.9 REST OF EUROPE
10.3 ASIA-PACIFIC
10.3.1 ASIA-PACIFIC MARKET, BY COUNTRY, 2024-2032
10.3.2 ASIA-PACIFIC MARKET, BY TYPE, 2024-2032
10.3.3 ASIA-PACIFIC MARKET, BY VEHICLE TYPE, 2024-2032
10.3.4 ASIA-PACIFIC MARKET, BY MECHANISM, 2024-2032
10.3.5 CHINA
10.3.6 JAPAN
10.3.7 INDIA
10.3.8 REST OF ASIA-PACIFIC
10.4 NORTH AMERICA
10.4.2 US
10.4.3 CANADA
10.4.4 MEXICO
10.5 REST OF WORLD
10.5.1 REST OF WORLD MARKET, BY COUNTRY, 2024-2032
10.5.2 REST OF WORLD MARKET, BY TYPE, 2024-2032
10.5.3 REST OF WORLD MARKET, BY VEHICLE TYPE, 2024-2032
10.5.4 REST OF WORLD MARKET, BY MECHANISM, 2024-2032
10.5.5 SOUTH AMERICA
10.5.6 MIDDLE EAST AND AFRICA
11 COMPETITIVE LANDSCAPE
11.1 COMPETITIVE OVERVIEW
11.2 COMPETITIVE BENCHMARKING
11.3 MARKET SHARE ANALYSIS
11.4 KEY DEVELOPMENTS IN THE GLOBAL ELECTRIC POWER STEERING SYSTEM MARKET
11.4.1 KEY DEVELOPMENTS: MERGERS & ACQUISITIONS
11.4.2 KEY DEVELOPMENTS: EXPANSION
11.4.3 KEY DEVELOPMENTS: PRODUCT DEVELOPMENTS
12 COMPANY PROFILES
12.1 JTEKT
12.1.1 COMPANY OVERVIEW
12.1.2 FINANCIAL OVERVIEW
12.1.3 PRODUCTS OFFERED
12.1.4 KEY DEVELOPMENTS
12.1.5 SWOT ANALYSIS
12.1.6 KEY STRATEGIES
12.2 ZF FRIEDRICHSHAFEN AG
12.2.1 COMPANY OVERVIEW
12.2.2 FINANCIAL OVERVIEW
12.2.3 PRODUCTS OFFERED
12.2.4 KEY DEVELOPMENTS
12.2.5 SWOT ANALYSIS
12.2.6 KEY STRATEGIES
12.3 NEXTEER AUTOMOTIVE
12.3.1 COMPANY OVERVIEW
12.3.2 FINANCIAL OVERVIEW
12.3.3 PRODUCTS OFFERED
12.3.4 KEY DEVELOPMENTS
12.3.5 SWOT ANALYSIS
12.3.6 KEY STRATEGIES
12.4 ROBERT BOSCH GMBH
12.4.1 COMPANY OVERVIEW
12.4.2 FINANCIAL OVERVIEW
12.4.3 PRODUCTS OFFERED
12.4.4 KEY DEVELOPMENTS
12.4.5 SWOT ANALYSIS
12.4.6 KEY STRATEGIES
12.5 MANDO CORP.
12.5.1 COMPANY OVERVIEW
12.5.2 FINANCIAL OVERVIEW
12.5.3 PRODUCTS OFFERED
12.5.4 SWOT ANALYSIS
12.5.5 KEY STRATEGIES
12.6 CONTINENTAL AG
12.6.1 COMPANY OVERVIEW
12.6.2 FINANCIAL OVERVIEW
12.6.3 PRODUCTS OFFERED
12.6.4 KEY DEVELOPMENTS
12.6.5 SWOT ANALYSIS
12.6.6 KEY STRATEGIES
12.7 DENSO CORPORATION
12.7.1 COMPANY OVERVIEW
12.7.2 FINANCIAL OVERVIEW
12.7.3 PRODUCTS OFFERED
12.7.4 KEY DEVELOPMENTS
12.7.5 SWOT ANALYSIS
12.7.6 KEY STRATEGIES
12.8 THYSSENKRUPP AG
12.8.1 COMPANY OVERVIEW
12.8.2 FINANCIAL OVERVIEW
12.8.3 PRODUCTS OFFERED
12.8.4 KEY DEVELOPMENTS
12.9 SHOWA CORPORATION
12.9.1 COMPANY OVERVIEW
12.9.2 FINANCIAL OVERVIEW
12.9.3 PRODUCTS OFFERED
12.9.4 KEY DEVELOPMENTS
12.10 HYUNDAI MOBIS
12.10.1 COMPANY OVERVIEW
12.10.2 FINANCIAL OVERVIEW
12.10.3 PRODUCTS OFFERED
12.10.4 KEY DEVELOPMENTS
13 APPENDIX
13.1 REFERENCES
13.2 RELATED REPORTS
14 LIST OF TABLES
TABLE 1 LIST OF ASSUMPTIONS
TABLE 2 GLOBAL ELECTRIC POWER STEERING MARKET, BY TYPE, 2024-2032 (USD MILLION)
TABLE 3 GLOBAL ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2024-2032 (USD MILLION)
TABLE 4 GLOBAL ELECTRIC POWER STEERING MARKET, BY MECHANISM, 2024-2032 (USD MILLION)
TABLE 5 GLOBAL ELECTRIC POWER STEERING MARKET, BY REGION, 2024-2032 (USD MILLION)
TABLE 6 EUROPE MARKET, BY COUNTRY, 2024-2032 (USD MILLION)
TABLE 7 EUROPE MARKET, BY TYPE, 2024-2032 (USD MILLION)
TABLE 8 EUROPE MARKET, BY VEHICLE TYPE, 2024-2032 (USD MILLION)
TABLE 9 EUROPE MARKET, BY MECHANISM, 2024-2032 (USD MILLION)
TABLE 10 GERMANY MARKET, BY TYPE, 2024-2032 (USD MILLION)
TABLE 11 GERMANY MARKET, BY VEHICLE TYPE, 2024-2032 (USD MILLION)
TABLE 12 GERMANY MARKET, BY MECHANISM, 2024-2032 (USD MILLION)
TABLE 13 UK MARKET, BY TYPE, 2024-2032 (USD MILLION)
TABLE 14 UK MARKET, BY VEHICLE TYPE, 2024-2032 (USD MILLION)
TABLE 15 UK MARKET, BY MECHANISM, 2024-2032 (USD MILLION)
TABLE 16 FRANCE MARKET, BY TYPE, 2024-2032 (USD MILLION)
TABLE 17 FRANCE MARKET, BY VEHICLE TYPE, 2024-2032 (USD MILLION)
TABLE 18 FRANCE MARKET, BY MECHANISM, 2024-2032 (USD MILLION)
TABLE 19 SPAIN MARKET, BY TYPE, 2024-2032 (USD MILLION)
TABLE 20 SPAIN MARKET, BY VEHICLE TYPE, 2024-2032 (USD MILLION)
TABLE 21 SPAIN MARKET, BY MECHANISM, 2024-2032 (USD MILLION)
TABLE 22 REST OF EUROPE MARKET, BY TYPE, 2024-2032 (USD MILLION)
TABLE 23 REST OF EUROPE MARKET, BY VEHICLE TYPE, 2024-2032 (USD MILLION)
TABLE 24 REST OF EUROPE MARKET, BY MECHANISM, 2024-2032 (USD MILLION)
TABLE 25 ASIA-PACIFIC MARKET, BY COUNTRY, 2024-2032 (USD MILLION)
TABLE 26 ASIA-PACIFIC MARKET, BY TYPE, 2024-2032 (USD MILLION)
TABLE 27 ASIA-PACIFIC MARKET, BY VEHICLE TYPE, 2024-2032 (USD MILLION)
TABLE 28 ASIA-PACIFIC MARKET, BY MECHANISM, 2024-2032 (USD MILLION)
TABLE 29 CHINA MARKET, BY TYPE, 2024-2032 (USD MILLION)
TABLE 30 CHINA MARKET, BY VEHICLE TYPE, 2024-2032 (USD MILLION)
TABLE 31 CHINA MARKET, BY MECHANISM, 2024-2032 (USD MILLION)
TABLE 32 JAPAN MARKET, BY TYPE, 2024-2032 (USD MILLION)
TABLE 33 JAPAN MARKET, BY VEHICLE TYPE, 2024-2032 (USD MILLION)
TABLE 34 JAPAN MARKET, BY MECHANISM, 2024-2032 (USD MILLION)
TABLE 35 INDIA MARKET, BY TYPE, 2024-2032 (USD MILLION)
TABLE 36 INDIA MARKET, BY VEHICLE TYPE, 2024-2032 (USD MILLION)
TABLE 37 INDIA MARKET, BY MECHANISM, 2024-2032 (USD MILLION)
TABLE 38 REST OF ASIA-PACIFIC MARKET, BY TYPE, 2024-2032 (USD MILLION)
TABLE 39 REST OF ASIA-PACIFIC MARKET, BY VEHICLE TYPE, 2024-2032 (USD MILLION)
TABLE 40 REST OF ASIA-PACIFIC MARKET, BY MECHANISM, 2024-2032 (USD MILLION)
TABLE 41 NORTH AMERICA: ELECTRIC POWER STEERING MARKET, BY COUNTRY, 2024-2032 (USD MILLION)
TABLE 42 NORTH AMERICA: ELECTRIC POWER STEERING MARKET, BY TYPE, 2024-2032 (USD MILLION)
TABLE 43 NORTH AMERICA: ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2024-2032 (USD MILLION)
TABLE 44 NORTH AMERICA: ELECTRIC POWER STEERING MARKET, BY MECHANISM, 2024-2032 (USD MILLION)
TABLE 45 US MARKET, BY TYPE, 2024-2032 (USD MILLION)
TABLE 46 US MARKET, BY VEHICLE TYPE, 2024-2032 (USD MILLION)
TABLE 47 US MARKET, BY MECHANISM, 2024-2032 (USD MILLION)
TABLE 48 CANADA MARKET, BY TYPE, 2024-2032 (USD MILLION)
TABLE 49 CANADA MARKET, BY VEHICLE TYPE, 2024-2032 (USD MILLION)
TABLE 50 CANADA MARKET, BY MECHANISM, 2024-2032 (USD MILLION)
TABLE 51 MEXICO MARKET, BY TYPE, 2024-2032 (USD MILLION)
TABLE 52 MEXICO MARKET, BY VEHICLE TYPE, 2024-2032 (USD MILLION)
TABLE 53 MEXICO MARKET, BY MECHANISM, 2024-2032 (USD MILLION)
TABLE 54 REST OF WORLD MARKET, BY COUNTRY, 2024-2032 (USD MILLION)
TABLE 55 REST OF WORLD MARKET, BY TYPE, 2024-2032 (USD MILLION)
TABLE 56 REST OF WORLD MARKET, BY VEHICLE TYPE, 2024-2032 (USD MILLION)
TABLE 57 REST OF WORLD MARKET, BY MECHANISM, 2024-2032 (USD MILLION)
TABLE 58 SOUTH AMERICA MARKET, BY TYPE, 2024-2032 (USD MILLION)
TABLE 59 SOUTH AMERICA MARKET, BY VEHICLE TYPE, 2024-2032 (USD MILLION)
TABLE 60 SOUTH AMERICA MARKET, BY MECHANISM, 2024-2032 (USD MILLION)
TABLE 61 MIDDLE EAST & AFRICA MARKET, BY TYPE, 2024-2032 (USD MILLION)
TABLE 62 MIDDLE EAST & AFRICA MARKET, BY VEHICLE TYPE, 2024-2032 (USD MILLION)
TABLE 63 MIDDLE EAST & AFRICA MARKET, BY MECHANISM, 2024-2032 (USD MILLION)
TABLE 64 KEY DEVELOPMENTS: MERGERS & ACQUISITIONS
TABLE 65 KEY DEVELOPMENTS: EXPANSION
TABLE 66 KEY DEVELOPMENTS: PRODUCT DEVELOPMENTS
TABLE 67 JTEKT: PRODUCTS OFFERED
TABLE 68 JTEKT: KEY DEVELOPMENTS
TABLE 69 ZF FRIEDRICHSHAFEN AG: PRODUCTS/ OFFERED
TABLE 70 ZF FRIEDRICHSHAFEN AG: KEY DEVELOPMENTS
TABLE 71 NEXTEER AUTOMOTIVE: PRODUCTS OFFERED
TABLE 72 NEXTEER AUTOMOTIVE: KEY DEVELOPMENTS
TABLE 73 ROBERT BOSCH GMBH: PRODUCTS OFFERED
TABLE 74 ROBERT BOSCH GMBH: KEY DEVELOPMENTS
TABLE 75 MANDO CORP: PRODUCTS OFFERED
TABLE 76 CONTINENTAL AG: PRODUCTS OFFERED
TABLE 77 DENSO CORPORATION: PRODUCTS OFFERED
TABLE 78 THYSSENKRUPP AG: PRODUCTS OFFERED
TABLE 79 THYSSENKRUPP AG: KEY DEVELOPMENTS
TABLE 80 SHOWA CORPORATION: PRODUCTS OFFERED
TABLE 81 SHOWA CORPORATION: KEY DEVELOPMENTS
TABLE 82 HYUNDAI MOBIS: PRODUCTS OFFERED
TABLE 83 HYUNDAI MOBIS: KEY DEVELOPMENTS
15 LIST OF FIGURES
FIGURE 1 MARKET SYNOPSIS
FIGURE 2 GLOBAL ELECTRIC POWER STEERING MARKET ANALYSIS, BY TYPE
FIGURE 3 GLOBAL ELECTRIC POWER STEERING MARKET ANALYSIS, BY VEHICLE TYPE
FIGURE 4 GLOBAL ELECTRIC POWER STEERING MARKET ANALYSIS, BY MECHANISM
FIGURE 5 GLOBAL ELECTRIC POWER STEERING MARKET ANALYSIS, BY REGION
FIGURE 6 GLOBAL ELECTRIC POWER STEERING MARKET: MARKET STRUCTURE
FIGURE 7 RESEARCH PROCESS OF MRFR
FIGURE 8 NORTH AMERICA MARKET SHARE, BY COUNTRY (2024-2032)
FIGURE 9 EUROPE MARKET SHARE, BY COUNTRY (2024-2032)
FIGURE 10 ASIA-PACIFIC MARKET SHARE, BY COUNTRY (2024-2032)
FIGURE 11 REST OF WORLD MARKET SHARE, BY COUNTRY (2024-2032)
FIGURE 12 MARKET DYNAMICS: GLOBAL ELECTRIC POWER STEERING SYSTEM MARKET
FIGURE 13 ROAD ACCIDENT DEATHS PER LAKH POPULATION (2024)
FIGURE 14 TOTAL NUMBER OF ELECTRIC VEHICLES ON ROAD, 2024-2032(MILLIONS)
FIGURE 15 EUROPE LUXURY VEHICLES REGISTRATIONS, 2024-2032 (MILLION)
FIGURE 16 DRIVER IMPACT ANALYSIS: GLOBAL ELECTRIC POWER STEERING SYSTEM MARKET
FIGURE 17 RESTRAINT IMPACT ANALYSIS: GLOBAL ELECTRIC POWER STEERING SYSTEM MARKET
FIGURE 18 PORTER’S FIVE FORCES ANALYSIS: GLOBAL ELECTRIC POWER STEERING SYSTEM MARKET
FIGURE 19 SUPPLY CHAIN ANALYSIS: GLOBAL ELECTRIC POWER STEERING SYSTEM MARKET
FIGURE 20 GLOBAL ELECTRIC POWER STEERING MARKET, BY TYPE, 2024(% SHARE)
FIGURE 21 GLOBAL ELECTRIC POWER STEERING MARKET, BY TYPE, 2024-2032 (USD MILLION)
FIGURE 22 GLOBAL ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2024(% SHARE)
FIGURE 23 GLOBAL ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, 2024-2032 (USD MILLION)
FIGURE 24 GLOBAL ELECTRIC POWER STEERING MARKET, BY MECHANISM, 2024(% SHARE)
FIGURE 25 GLOBAL ELECTRIC POWER STEERING MARKET, BY MECHANISM, 2024-2032 (USD MILLION)
FIGURE 26 GLOBAL ELECTRIC POWER STEERING MARKET, BY REGION, 2024-2032 (USD MILLION)
FIGURE 27 GLOBAL ELECTRIC POWER STEERING MARKET, BY REGION, 2024(% SHARE)
FIGURE 28 EUROPE MARKET SHARE, BY COUNTRY, 2024(% SHARE)
FIGURE 29 ASIA-PACIFIC MARKET SHARE, BY COUNTRY, 2024(% SHARE)
FIGURE 30 NORTH AMERICA: ELECTRIC POWER STEERING MARKET SHARE, BY COUNTRY, 2024(% SHARE)
FIGURE 31 REST OF WORLD MARKET SHARE, BY COUNTRY, 2024(% SHARE)
FIGURE 32 BENCHMARKING OF MAJOR COMPETITORS
FIGURE 33 GLOBAL ELECTRIC POWER STEERING SYSTEM MARKET SHARE ANALYSIS, 2024
FIGURE 34 JTEKT: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 35 JTEKT: SWOT ANALYSIS
FIGURE 36 ZF FRIEDRICHSHAFEN AG: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 37 ZF FRIEDRICHSHAFEN AG: SWOT ANALYSIS
FIGURE 38 NEXTEER AUTOMOTIVE: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 39 NEXTEER AUTOMOTIVE: SWOT ANALYSIS
FIGURE 40 ROBERT BOSCH GMBH: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 41 ROBERT BOSCH GMBH: SWOT ANALYSIS
FIGURE 42 MANDO CORP.: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 43 MANDO CORP: SWOT ANALYSIS
FIGURE 44 CONTINENTAL AG: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 45 CONTINENTAL AG: SWOT ANALYSIS
FIGURE 46 DENSO CORPORATION: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 47 DENSO CORPORATION: SWOT ANALYSIS
FIGURE 48 THYSSENKRUPP AG: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 49 SHOWA CORPORATION: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 50 HYUNDAI MOBIS: FINANCIAL OVERVIEW SNAPSHOT
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Team Lead - Research With a technical background as bachelor's in mechanical engineering, with mba in operations management , swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the automotive/a&d domain. swapnil has worked on major projects in verticals such as aerospace & defense, automotive and many other domain projects. he has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.
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