Industry: Automobile & Transportation
Published Date: 2026-03-09
Pages: 99 Pages
Report ld: 6050557
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Electric Power Steering Market Size(US$)

CAGR 2026-2032
2.2%
Market Size,2032
USD 22,080
Million
Market Snapshot
Source: Secondary research, interviews with experts, and QYResearch analysis
The global Electric Power Steering market size was US$ 19070 million in 2025 and is forecast to reach a readjusted size of US$ 22080 million by 2032 with a CAGR of 2.2% during the forecast period 2026-2032.
In 2024, global Electric Power Steering production reached approximately 74.32 million units, with an average global market price of around US$ 247 per unit.
Electric Power Steering is a steering system that uses an electric motor to assist the driver in turning the steering wheel, replacing the traditional hydraulic pump and fluid. It operates based on input from sensors that detect steering torque and vehicle speed, and provides variable assistance accordingly. The system typically consists of an electric motor, torque sensor, steering gear, and an electronic control unit. It improves fuel efficiency, reduces maintenance needs, and integrates easily with advanced driver assistance systems, offering more precise control and a smoother driving experience.
The Electric Power Steering market has emerged as a vital segment of the automotive industry, reflecting a broader transition toward energy-efficient, smart, and electrified vehicle technologies. As global environmental regulations tighten and consumer demand shifts toward safer and more responsive driving systems, traditional hydraulic steering is being replaced by electric power steering across a wide range of vehicles. The adoption of electric systems not only reduces parasitic energy loss from the engine but also enables more compact designs and lower overall vehicle weight. This leads to improved fuel economy or, in the case of electric vehicles, longer battery range. Additionally, Electric Power Steering supports real-time adjustments based on road and speed conditions, which improves vehicle handling, driver comfort, and overall safety. Its compatibility with advanced technologies such as lane-keeping, collision avoidance, and autonomous driving systems makes it a foundational element in the development of next-generation vehicles. Major automotive manufacturers and suppliers continue to invest in innovation to improve steering responsiveness, software customization, and system redundancy. The market is expanding not just in passenger cars, but also in light commercial vehicles, where automation and fuel efficiency are becoming priorities. With the increasing penetration of electric and smart vehicles, Electric Power Steering is expected to remain a critical component, both as a standalone system and as part of more advanced steer-by-wire and intelligent chassis platforms.
The global Electric Power Steering market is strategically segmented by company, region (country), by Type, and by Application. This report empowers stakeholders to capitalize on emerging opportunities, optimize product strategies, and outperform competitors through data-driven insights on sales, revenue, and forecasts across regions, by Type, and by Application for 2021-2032.
MARKET SEGMENTATION
CHAPTER OUTLINE
Chapter 1: Report scope, segment-level executive summary (by Type, by Application) and market evolution across the short, mid and long term
Chapter 2: Quantitative analysis of Electric Power Steering sales and revenue at global, regional, and country levels, highlighting market size and growth potential by region
Chapter 3: Competitive landscape of Electric Power Steering manufacturers (sales, revenue, pricing, market share, industry rankings, and M&A / expansion plans)
Chapter 4: by Type-based segmentation analysis (sales, revenue, pricing, and growth potential) to identify blue-ocean product segments
Chapter 5: by Application-based segmentation analysis (sales, revenue, pricing, and growth potential) to uncover high-value downstream markets
Chapter 6: Regional breakdown by company, customer, by Type and by Application (sales, revenue, and pricing for each segment)
Chapter 7: Key manufacturer profiles –company overview, Electric Power Steering product descriptions and specifications, revenue, gross margins, and recent developments
Chapter 8: Industry chain analysis – upstream raw materials, manufacturing links, and downstream application sectors
Chapter 9: Sales channels and distributor analysis – routes to market and key customer interfaces
Chapter 10: Market dynamics – trends, drivers, restraints, risks for manufacturers, and the impact of relevant industry policies
Chapter 11: Key findings, main takeaways, and overall conclusions of the report.
WHY THIS REPORT
Beyond standard market data, this analysis provides a clear profitability roadmap, empowering you to:
Unlike generic global market reports, this study combines macro-level industry trends with hyper-local operational intelligence, empowering data-driven decisions across the Electric Power Steering value chain, addressing:
- Market entry risks/opportunities by region
- Product mix optimization based on local practices
- Competitor tactics in fragmented vs. consolidated markets
QYRESEARCH'S STRENGTHS
Unlike generic global market reports, this study combines macro-level industry trends with hyper-local operational intelligence, empowering data-driven decisions across the Compound Chocolate value chain, addressing:
We identify regional market threats and growth prospects to guide your overseas layout.
We adjust product portfolios in line with local consumption habits.
We unpack rivals’ operation strategies for scattered and highly concentrated industries.
We cover competition landscape, full supply chain and quantified market size data, and deliver tailor-made customized surveys to meet your unique business demands.
We own self-owned massive exclusive databases, backed by 19 years of global market research experience across thousands of sectors.
Our team operates 24 hours a day, 365 days a year, enabling ultra-fast report turnaround to respond to your research needs efficiently.
We integrate regional risk assessment, localized product optimization and competitor analysis to deliver actionable market strategies.
All data is cross-verified from multiple industry sources to deliver thorough, precise analysis that supports reliable corporate strategic decisions.
We provide responsive, dedicated after-sales support to resolve all follow-up inquiries about reports, data and industry interpretation.
TABLE OF CONTENTS
1 Market Overview
1.1 Electric Power Steering Product Scope
1.2 Electric Power Steering by Type
1.2.1 Global Electric Power Steering Sales by Type (2021, 2025 & 2032)
1.2.2 C-EPS
1.2.3 P-EPS
1.2.4 DP-EPS
1.2.5 R-EPS
1.3 Electric Power Steering by Application
1.3.1 Global Electric Power Steering Sales Comparison by Application (2021, 2025 & 2032)
1.3.2 Passenger Car
1.3.3 Commercial Vehicle
1.4 Global Electric Power Steering Market Estimates and Forecasts (2021-2032)
1.4.1 Global Electric Power Steering Market Size (Value) and Growth Rate (2021-2032)
1.4.2 Global Electric Power Steering Market Size (Volume) and Growth Rate (2021-2032)
1.4.3 Global Electric Power Steering Price Trends (2021-2032)
1.5 Assumptions and Limitations
2 Market Size and Prospects by Region
2.1 Global Electric Power Steering Market Size by Region: 2021 VS 2025 VS 2032
2.2 Global Electric Power Steering Historical Market Scenario by Region (2021-2026)
2.2.1 Global Electric Power Steering Sales Market Share by Region (2021-2026)
2.2.2 Global Electric Power Steering Revenue Market Share by Region (2021-2026)
2.3 Global Electric Power Steering Market Estimates and Forecasts by Region (2027-2032)
2.3.1 Global Electric Power Steering Sales Estimates and Forecasts by Region (2027-2032)
2.3.2 Global Electric Power Steering Revenue Forecast by Region (2027-2032)
2.4 Major Regions and Emerging Market Analysis
2.4.1 North America Electric Power Steering Market Size and Prospects (2021-2032)
2.4.2 Europe Electric Power Steering Market Size and Prospects (2021-2032)
2.4.3 China Electric Power Steering Market Size and Prospects (2021-2032)
2.4.4 Japan Electric Power Steering Market Size and Prospects (2021-2032)
2.4.5 South Korea Electric Power Steering Market Size and Prospects (2021-2032)
2.4.6 India Electric Power Steering Market Size and Prospects (2021-2032)
3 Global Market Size by Type
3.1 Global Electric Power Steering Historical Market Review by Type (2021-2026)
3.1.1 Global Electric Power Steering Sales by Type (2021-2026)
3.1.2 Global Electric Power Steering Revenue by Type (2021-2026)
3.1.3 Global Electric Power Steering Average Price by Type (2021-2026)
3.2 Global Electric Power Steering Market Estimates and Forecasts by Type (2027-2032)
3.2.1 Global Electric Power Steering Sales Forecast by Type (2027-2032)
3.2.2 Global Electric Power Steering Revenue Forecast by Type (2027-2032)
3.2.3 Global Electric Power Steering Price Forecast by Type (2027-2032)
3.3 Representative Players for Different Types of Electric Power Steering
4 Global Market Size by Application
4.1 Global Electric Power Steering Historical Market Review by Application (2021-2026)
4.1.1 Global Electric Power Steering Sales by Application (2021-2026)
4.1.2 Global Electric Power Steering Revenue by Application (2021-2026)
4.1.3 Global Electric Power Steering Average Price by Application (2021-2026)
4.2 Global Electric Power Steering Market Estimates and Forecasts by Application (2027-2032)
4.2.1 Global Electric Power Steering Sales Forecast by Application (2027-2032)
4.2.2 Global Electric Power Steering Revenue Forecast by Application (2027-2032)
4.2.3 Global Electric Power Steering Price Forecast by Application (2027-2032)
4.3 New Sources of Growth in Electric Power Steering Applications
5 Competition Landscape by Players
5.1 Global Electric Power Steering Sales by Player (2021-2026)
5.2 Global Top Electric Power Steering Players by Revenue (2021-2026)
5.3 Global Electric Power Steering Market Share by Company Type (Tier 1, Tier 2, and Tier 3), based on Electric Power Steering revenue as of 2025
5.4 Global Electric Power Steering Average Price by Company (2021-2026)
5.5 Global Key Manufacturers of Electric Power Steering, Manufacturing Sites & Headquarters
5.6 Global Key Manufacturers of Electric Power Steering, Product Type & Application
5.7 Global Key Manufacturers of Electric Power Steering, Date of Entry into This Industry
5.8 Manufacturers Mergers & Acquisitions, Expansion Plans
6 Regional Analysis
6.1 North America Market: Players, Segments, Downstream and Major Customers
6.1.1 North America Electric Power Steering Sales by Company
6.1.1.1 North America Electric Power Steering Sales by Company (2021-2026)
6.1.1.2 North America Electric Power Steering Revenue by Company (2021-2026)
6.1.2 North America Electric Power Steering Sales Breakdown by Type (2021-2026)
6.1.3 North America Electric Power Steering Sales Breakdown by Application (2021-2026)
6.1.4 North America Electric Power Steering Major Customers
6.1.5 North America Market Trends and Opportunities
6.2 Europe Market: Players, Segments, Downstream and Major Customers
6.2.1 Europe Electric Power Steering Sales by Company
6.2.1.1 Europe Electric Power Steering Sales by Company (2021-2026)
6.2.1.2 Europe Electric Power Steering Revenue by Company (2021-2026)
6.2.2 Europe Electric Power Steering Sales Breakdown by Type (2021-2026)
6.2.3 Europe Electric Power Steering Sales Breakdown by Application (2021-2026)
6.2.4 Europe Electric Power Steering Major Customers
6.2.5 Europe Market Trends and Opportunities
6.3 China Market: Players, Segments, Downstream and Major Customers
6.3.1 China Electric Power Steering Sales by Company
6.3.1.1 China Electric Power Steering Sales by Company (2021-2026)
6.3.1.2 China Electric Power Steering Revenue by Company (2021-2026)
6.3.2 China Electric Power Steering Sales Breakdown by Type (2021-2026)
6.3.3 China Electric Power Steering Sales Breakdown by Application (2021-2026)
6.3.4 China Electric Power Steering Major Customers
6.3.5 China Market Trends and Opportunities
6.4 Japan Market: Players, Segments, Downstream and Major Customers
6.4.1 Japan Electric Power Steering Sales by Company
6.4.1.1 Japan Electric Power Steering Sales by Company (2021-2026)
6.4.1.2 Japan Electric Power Steering Revenue by Company (2021-2026)
6.4.2 Japan Electric Power Steering Sales Breakdown by Type (2021-2026)
6.4.3 Japan Electric Power Steering Sales Breakdown by Application (2021-2026)
6.4.4 Japan Electric Power Steering Major Customers
6.4.5 Japan Market Trends and Opportunities
6.5 South Korea Market: Players, Segments, Downstream and Major Customers
6.5.1 South Korea Electric Power Steering Sales by Company
6.5.1.1 South Korea Electric Power Steering Sales by Company (2021-2026)
6.5.1.2 South Korea Electric Power Steering Revenue by Company (2021-2026)
6.5.2 South Korea Electric Power Steering Sales Breakdown by Type (2021-2026)
6.5.3 South Korea Electric Power Steering Sales Breakdown by Application (2021-2026)
6.5.4 South Korea Electric Power Steering Major Customers
6.5.5 South Korea Market Trends and Opportunities
6.6 India Market: Players, Segments, Downstream and Major Customers
6.6.1 India Electric Power Steering Sales by Company
6.6.1.1 India Electric Power Steering Sales by Company (2021-2026)
6.6.1.2 India Electric Power Steering Revenue by Company (2021-2026)
6.6.2 India Electric Power Steering Sales Breakdown by Type (2021-2026)
6.6.3 India Electric Power Steering Sales Breakdown by Application (2021-2026)
6.6.4 India Electric Power Steering Major Customers
6.6.5 India Market Trends and Opportunities
7 Company Profiles and Key Figures
7.1 JTEKT
7.1.1 JTEKT Company Information
7.1.2 JTEKT Business Overview
7.1.3 JTEKT Electric Power Steering Sales, Revenue and Gross Margin (2021-2026)
7.1.4 JTEKT Electric Power Steering Products Offered
7.1.5 JTEKT Recent Development
7.2 Bosch
7.2.1 Bosch Company Information
7.2.2 Bosch Business Overview
7.2.3 Bosch Electric Power Steering Sales, Revenue and Gross Margin (2021-2026)
7.2.4 Bosch Electric Power Steering Products Offered
7.2.5 Bosch Recent Development
7.3 Nexteer
7.3.1 Nexteer Company Information
7.3.2 Nexteer Business Overview
7.3.3 Nexteer Electric Power Steering Sales, Revenue and Gross Margin (2021-2026)
7.3.4 Nexteer Electric Power Steering Products Offered
7.3.5 Nexteer Recent Development
7.4 ZF
7.4.1 ZF Company Information
7.4.2 ZF Business Overview
7.4.3 ZF Electric Power Steering Sales, Revenue and Gross Margin (2021-2026)
7.4.4 ZF Electric Power Steering Products Offered
7.4.5 ZF Recent Development
7.5 NSK
7.5.1 NSK Company Information
7.5.2 NSK Business Overview
7.5.3 NSK Electric Power Steering Sales, Revenue and Gross Margin (2021-2026)
7.5.4 NSK Electric Power Steering Products Offered
7.5.5 NSK Recent Development
7.6 Hitachi Astemo
7.6.1 Hitachi Astemo Company Information
7.6.2 Hitachi Astemo Business Overview
7.6.3 Hitachi Astemo Electric Power Steering Sales, Revenue and Gross Margin (2021-2026)
7.6.4 Hitachi Astemo Electric Power Steering Products Offered
7.6.5 Hitachi Astemo Recent Development
7.7 Hyundai Mobis
7.7.1 Hyundai Mobis Company Information
7.7.2 Hyundai Mobis Business Overview
7.7.3 Hyundai Mobis Electric Power Steering Sales, Revenue and Gross Margin (2021-2026)
7.7.4 Hyundai Mobis Electric Power Steering Products Offered
7.7.5 Hyundai Mobis Recent Development
7.8 Thyssenkrupp
7.8.1 Thyssenkrupp Company Information
7.8.2 Thyssenkrupp Business Overview
7.8.3 Thyssenkrupp Electric Power Steering Sales, Revenue and Gross Margin (2021-2026)
7.8.4 Thyssenkrupp Electric Power Steering Products Offered
7.8.5 Thyssenkrupp Recent Development
7.9 HL Mando
7.9.1 HL Mando Company Information
7.9.2 HL Mando Business Overview
7.9.3 HL Mando Electric Power Steering Sales, Revenue and Gross Margin (2021-2026)
7.9.4 HL Mando Electric Power Steering Products Offered
7.9.5 HL Mando Recent Development
7.10 CAAS
7.10.1 CAAS Company Information
7.10.2 CAAS Business Overview
7.10.3 CAAS Electric Power Steering Sales, Revenue and Gross Margin (2021-2026)
7.10.4 CAAS Electric Power Steering Products Offered
7.10.5 CAAS Recent Development
7.11 Zhuzhou Elite
7.11.1 Zhuzhou Elite Company Information
7.11.2 Zhuzhou Elite Business Overview
7.11.3 Zhuzhou Elite Electric Power Steering Sales, Revenue and Gross Margin (2021-2026)
7.11.4 Zhuzhou Elite Electric Power Steering Products Offered
7.11.5 Zhuzhou Elite Recent Development
7.12 Yubei
7.12.1 Yubei Company Information
7.12.2 Yubei Business Overview
7.12.3 Yubei Electric Power Steering Sales, Revenue and Gross Margin (2021-2026)
7.12.4 Yubei Electric Power Steering Products Offered
7.12.5 Yubei Recent Development
7.13 Zhejiang Shibao
7.13.1 Zhejiang Shibao Company Information
7.13.2 Zhejiang Shibao Business Overview
7.13.3 Zhejiang Shibao Electric Power Steering Sales, Revenue and Gross Margin (2021-2026)
7.13.4 Zhejiang Shibao Electric Power Steering Products Offered
7.13.5 Zhejiang Shibao Recent Development
8 Electric Power Steering Manufacturing Cost Analysis
8.1 Electric Power Steering Key Raw Materials Analysis
8.1.1 Key Raw Materials
8.1.2 Key Suppliers of Raw Materials
8.2 Manufacturing Cost Structure
8.3 Manufacturing Process Analysis of Electric Power Steering
8.4 Electric Power Steering Industrial Chain Analysis
9 Marketing Channels, Distributors and Customers
9.1 Marketing Channels
9.2 Electric Power Steering Distributors List
9.3 Electric Power Steering Customers
10 Electric Power Steering Market Dynamics
10.1 Electric Power Steering Industry Trends
10.2 Electric Power Steering Market Drivers
10.3 Electric Power Steering Market Challenges
10.4 Electric Power Steering Market Restraints
11 Research Findings and Conclusion
12 Appendix
12.1 Research Methodology
12.1.1 Methodology/Research Approach
12.1.1.1 Research Programs/Design
12.1.1.2 Market Size Estimation
12.1.1.3 Market Breakdown and Data Triangulation
12.1.2 Data Source
12.1.2.1 Secondary Sources
12.1.2.2 Primary Sources
12.2 Author Details
12.3 Disclaimer
TABLE OF FIGURES
List of Tables
List of Figures
KEY QUESTIONS ADDRESSED BY THE REPORT
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REPORT COVERAGE
DESCRIPTION
OVERVIEW
MARKET SEGMENTATION
CHAPTER OUTLINE
WHY THIS REPORT
QYRESEARCH'S STRENGTHS
TABLE OF CONTENTS
TABLE OF FIGURES
RLEATED REPORTS
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