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The global Passenger Car Electric Power Steering System (EPS) market size was estimated at USD 4536 million in 2024 and is projected to reach USD 5790.85 million by 2032, exhibiting a CAGR of 3.10% during the forecast period.

North America Passenger Car Electric Power Steering System (EPS) market size was estimated at USD 1245.60 million in 2024, at a CAGR of 2.66% during the forecast period of 2024 through 2032.

Report Overview

Passenger Car Electric Power Steering System (EPS) is a steering system that uses electric motors to assist the driver in turning the steering wheel. Unlike hydraulic power steering systems, which rely on hydraulic fluid and a pump, EPS systems use electrical power to provide assistance. This system is becoming increasingly popular in modern vehicles due to its efficiency, environmental friendliness, and ability to integrate with advanced driver assistance systems

This report provides a deep insight into the global Passenger Car Electric Power Steering System (EPS) market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.

The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Passenger Car Electric Power Steering System (EPS) Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.

In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Passenger Car Electric Power Steering System (EPS) market in any manner.

Global Passenger Car Electric Power Steering System (EPS) Market: Market Segmentation Analysis
The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Key Company

• Bosch
• Nexteer Automotive
• ZF Friedrichshafen
• JTEKT Corporation
• Hyundai Mobis
• Denso
• Nidec

Market Segmentation (by Type)

• Column-Mounted EPS (CM-EPS)
• Dual-Pinion EPS
• Others

Market Segmentation (by Application)

• Electric Cars
• Fuel Cars
• Hybrid Cars

Geographic Segmentation

• North America (USA, Canada, Mexico)
• Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
• South America (Brazil, Argentina, Columbia, Rest of South America)
• The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Frequently Asked Questions (FAQs) on the Global Passenger Car Electric Power Steering System (EPS) Market

1. What is the market size of the Passenger Car Electric Power Steering System (EPS) market in 2024?

The global Passenger Car Electric Power Steering System (EPS) market size was estimated at USD 4,536 million in 2024.

2. What is the projected growth of the Passenger Car Electric Power Steering System (EPS) market by 2032?

The Passenger Car EPS market is projected to reach USD 5,790.85 million by 2032, growing at a CAGR of 3.10% during the forecast period.

3. What are the key factors driving the growth of the Passenger Car EPS market?

The growth is driven by increasing adoption of electric power steering systems in modern vehicles due to their efficiency, fuel-saving benefits, and advanced control features, as well as the rising demand for electric and autonomous vehicles.

4. What are the advantages of electric power steering systems over hydraulic systems?

Electric power steering (EPS) systems offer advantages such as improved fuel efficiency, reduced maintenance, compact design, and integration with advanced driver-assistance systems (ADAS) for better vehicle control.

5. Which region is expected to dominate the Passenger Car EPS market?

North America and Europe are significant markets due to high adoption rates of advanced automotive technologies, but Asia-Pacific is expected to witness robust growth due to the increasing production and sales of passenger cars.

Key Benefits of This Market Research:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Passenger Car Electric Power Steering System (EPS) Market
• Overview of the regional outlook of the Passenger Car Electric Power Steering System (EPS) Market:

Key Reasons to Buy this Report:

• Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change
• This enables you to anticipate market changes to remain ahead of your competitors
• You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations, or other strategic documents
• The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly
• Provision of market value data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market from various perspectives through Porter