Press release
Electric Power Assisted Steering Systems Market Growth Trends Size and Forecast 2032
Electric Power Assisted Steering Systems Market
Electric Power Assisted Steering (EPAS) Systems Market share was valued at 58.05 billion USD in 2023. The Electric Power Assisted Steering (EPAS) Systems Market Industry is projected 60.57 billion US$ in 2024 to 85.0 billion USD by 2032. The Electric Power Assisted Steering (EPAS) Systems Market growth register at a CAGR of 4.33% during the forecast period (2025 - 2032).
The Electric Power Assisted Steering (EPAS) systems market is growing rapidly, driven by advancements in automotive technology and increasing demand for fuel-efficient and safe vehicles. EPAS systems replace traditional hydraulic steering with electric motors, offering significant benefits such as reduced energy consumption, enhanced vehicle control, and improved safety features. These systems are becoming essential in modern vehicles, including electric and hybrid models, due to their efficiency and compatibility with advanced driver-assistance systems (ADAS).
Request Free Sample PDF Report: https://www.wiseguyreports.com/sample-request?id=614058
Market Segmentation
By Component
Electric Motor
Core component providing power assistance to the steering mechanism.
Sensors
Includes torque sensors, steering angle sensors, and position sensors for precise control.
Steering Column
Transfers driver input to the steering system.
Control Module
Processes sensor data to optimize steering performance.
By Type
Column Assist EPS (C-EPS)
Common in compact and subcompact vehicles.
Pinion Assist EPS (P-EPS)
Suitable for small and medium-sized vehicles.
Rack Assist EPS (R-EPS)
Designed for larger vehicles and SUVs.
By Vehicle Type
Passenger Cars
The dominant segment due to high production volumes.
Commercial Vehicles
Increasing adoption for enhanced maneuverability and driver comfort.
Electric and Hybrid Vehicles
Rising demand due to energy-saving benefits.
By Distribution Channel
OEMs (Original Equipment Manufacturers)
Majority share due to integration during vehicle production.
Aftermarket
Focuses on replacement and upgrades.
Browse Premium Research insights: https://www.wiseguyreports.com/reports/electric-power-assisted-steering-systems-market
Key Takeaways
Technological Advancements: EPAS systems are increasingly integrated with ADAS and autonomous driving features, offering improved vehicle control and safety.
Growth Drivers: Stringent emission regulations, rising demand for electric vehicles (EVs), and consumer preference for comfort and safety boost market growth.
Challenges: High initial costs and maintenance complexities may limit adoption in price-sensitive regions.
Future Outlook: The transition to autonomous vehicles and increasing electrification of automotive systems are expected to drive innovation and market expansion.
Regional Insights
North America: A mature market, driven by high adoption of advanced technologies and a focus on safety.
Europe: Dominated by stringent environmental regulations and the presence of leading automotive manufacturers.
Asia-Pacific: The fastest-growing region, fueled by the expansion of the automotive industry in countries like China, Japan, and India.
Latin America and Middle East & Africa: Emerging regions with increasing investments in automotive infrastructure.
Latest Industry News
Technological Innovations: Companies are developing next-generation EPAS systems compatible with electric and autonomous vehicles, featuring lightweight designs and enhanced efficiency.
Collaborations and Partnerships: Automotive manufacturers and component suppliers are working together to integrate EPAS systems with advanced safety technologies.
Focus on Sustainability: EPAS systems are gaining traction due to their role in improving fuel efficiency and reducing emissions.
Regional Expansions: Leading players are targeting emerging markets to capitalize on growing automotive production and modernization trends.
The Electric Power Assisted Steering systems market is set for robust growth, underpinned by the automotive industry's transition towards electrification, automation, and sustainability. With technological advancements and increasing consumer demand for energy-efficient and safe vehicles, EPAS systems are becoming an integral part of modern automotive design. The market offers vast opportunities for stakeholders, particularly in developing regions and the evolving EV segment.
Other Related Reports:
electronic expansion valves for new energy automobile Market: https://www.wiseguyreports.com/reports/electronic-expansion-valves-for-new-energy-automobile-market
Electronic Transmission Control Unit Market: https://www.wiseguyreports.com/reports/electronic-transmission-control-unit-market
Engine Mounts In Metal Market: https://www.wiseguyreports.com/reports/engine-mounts-in-metal-market
engineering project logistics Market: https://www.wiseguyreports.com/reports/engineering-project-logistics-market
environmental monitoring vehicle Market: https://www.wiseguyreports.com/reports/environmental-monitoring-vehicle-market
epdm automobile weather strip Market: https://www.wiseguyreports.com/reports/epdm-automobile-weather-strip-market
Evtol Air Taxi Market: https://www.wiseguyreports.com/reports/evtol-air-taxi-market
Floating Boat Lifts Market: https://www.wiseguyreports.com/reports/floating-boat-lifts-market
folding mobility scooters Market: https://www.wiseguyreports.com/reports/folding-mobility-scooters-market
Forklift Battery Stands Market: https://www.wiseguyreports.com/reports/forklift-battery-stands-market
About US:
Wise Guy Reports is pleased to introduce itself as a leading provider of insightful market research solutions that adapt to the ever-changing demands of businesses around the globe. We want our clients to have information that can be used to act upon their strategic initiatives. We, therefore, aim to be your trustworthy partner within dynamic business settings through excellence and innovation. By offering comprehensive market intelligence, our company enables corporate organizations to make informed choices, drive growth, and stay ahead in competitive markets.
WiseGuy Reports
Pune Maharashtra, India 411028
+91 20 6912 2998 | +162 825 80070 (US) | +44 203 500 2763 (UK)
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Electric Power Assisted Steering Systems Market Growth Trends Size and Forecast 2032 here
News-ID: 3744072 • Views: …
More Releases from WiseGuy Reports
Hair Transplant Market Anticipated to Reach USD 15.65 Billion, at a Notable 6.24 …
Rising Confidence: How the Hair Transplant Market Is Transforming Personal Aesthetics
The Hair Transplant Market is experiencing a significant boom as more individuals seek effective and permanent solutions to hair loss. Once considered a niche cosmetic procedure, hair transplantation has entered the mainstream, driven by technological advancements, changing perceptions around appearance, and growing awareness of treatment availability.
The Hair Transplant Market is on a remarkable growth path, reflecting the global rise in…
Cell Free In Vitro System Market Growth: Regional Insights and Emerging Business …
The Cell Free In Vitro System Market research report provides important information about the industry's evolution, emphasizing the primary growth drivers and revenue streams anticipated between 2024 and 2032. It aids companies in navigating the intricacies of the market by highlighting both the current state of affairs and the most recent advancements impacting its course, much like a compass. This report is a strategic ally for businesses, stakeholders, and industry…
Wound Care Adhesives Market Poised for Surprising Growth: Key Outlook and Region …
A New report from the WGR, titled Wound Care Adhesives Market Report 2024 Market Size, Trends, and Global Forecast 2024-2032, offers a thorough analysis of the market's changing trends, investment opportunities, and competitive landscape. By the end of 2032, the Wound Care Adhesives market trends will be valued at USD 35 Billion, per a WGR analysis. Furthermore, the report projects that the Wound Care Adhesives market trends will grow at…
Veterinary Healthcare For Livestock Animals Market Trends: Surprising Growth and …
The Veterinary Healthcare For Livestock Animals Market research report offers crucial insights into how the industry is evolving, highlighting key drivers of growth and the main revenue streams expected between 2024 and 2032. Similar to a compass, it helps businesses navigate the market's complexities by showcasing both the present situation and the newest developments influencing its direction. For businesses, stakeholders, and industry participants, this report serves as a strategic ally…
More Releases for Assist
Evolving Market Trends In The Left Ventricular Assist Devices Industry: Advancem …
The Left Ventricular Assist Devices Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Expected Left Ventricular Assist Devices Market Size During the Forecast Period?
In recent times, the market size for left ventricular assist devices has experienced considerable growth. The projections reveal an…
Comprehensive Financing Solutions from AutoFin Assist
AutoFin Assist, a leading financial services provider, is excited to share its comprehensive financial solutions tailored to meet the diverse needs of personal and commercial clients. Specialising in vehicle finance, balloon payments, debt consolidation, and commercial asset finance, AutoFin Assist is dedicated to empowering clients with the tools necessary for financial growth and stability.
"We are committed to delivering financial solutions that not only meet the immediate needs of our clients…
Respiratory Assist Devices Market - Breathing Uninterrupted: Innovating Respirat …
Newark, New Castle, USA - new report, titled Respiratory Assist Devices Market The report has been put together using primary and secondary research methodologies, which offer an accurate and precise understanding of the Respiratory Assist Devices market. Analysts have used a top-down and bottom-up approach to evaluate the segments and provide a fair assessment of their impact on the global Respiratory Assist Devices market. The report offers an overview of…
Ventricular Assist Device Market - Embracing Life, Empowering Hearts: Redefining …
Newark, New Castle, USA - new report, titled Ventricular Assist Device Market The report has been put together using primary and secondary research methodologies, which offer an accurate and precise understanding of the Ventricular Assist Device market. Analysts have used a top-down and bottom-up approach to evaluate the segments and provide a fair assessment of their impact on the global Ventricular Assist Device market. The report offers an overview of…
Ventricular Assist Device Market Forecast to 2032 - Covid-19 Impact and Global A …
Report Overview
The global ventricular assist device market size was valued at USD 1.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 17.6% from 2023 to 2032. The increased prevalence of chronic conditions such diabetes, neurological disorders, cardiovascular diseases, hypertension, and stroke, as well as the expanding worldwide elderly population, are some of the key drivers that are projected to fuel demand for…
Cardiac Assist Devices Market: Ventricular Assist Devices to Register the Fastes …
Global Cardiac Assist Devices Market: Snapshot
A cardiac assist device is an electromechanical device for assisting cardiac circulation, which is used either partially or to completely replace the function of a failing heart. A new research report by Future Market Insights highlights the changing scenario of the global cardiac assist devices market given the increase in cases of cardiovascular diseases across the world. The report is titled ‘Cardiac Assist Devices Market:…
