Press release
Automotive Electric Power Steering (EPS) Motor Market to Surpass USD 53.82 Billion by 2034
Automotive Electric Power Steering (EPS) Motor
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According to Exactitude Consultancy, the global Automotive EPS Motor Market was valued at USD 25.72 billion in 2024, and is projected to reach USD 53.82 billion by 2034, growing at a CAGR of 7.7% during the forecast period.
Market Overview
Key Highlights:
• Market Size in 2024: USD 25.72 Billion
• Projected Size by 2034: USD 53.82 Billion
• CAGR (2024-2034): 7.7%
• Top Players: Robert Bosch GmbH, Denso Corporation, ZF Friedrichshafen AG, NSK Ltd., Nidec Corporation
This growth is driven by surging global production of electric and hybrid vehicles, increasing integration of ADAS (Advanced Driver Assistance Systems), and growing consumer demand for improved fuel efficiency. EPS motors are becoming the new standard across vehicle segments-from passenger cars to light commercial vehicles-due to their precision and lower environmental impact.
Segmentation Analysis
By Motor Type:
• Brushless Motor
• Brushed Motor
By EPS Type:
• Column Assist EPS (C-EPS)
• Pinion Assist EPS (P-EPS)
• Rack Assist EPS (R-EPS)
By Vehicle Type:
• Passenger Cars
• Light Commercial Vehicles (LCVs)
• Heavy Commercial Vehicles (HCVs)
By Sales Channel:
• OEMs (Original Equipment Manufacturers)
• Aftermarket
Segmentation Summary:
Brushless motors dominate the EPS market due to their longer life, reduced noise, and higher energy efficiency. Rack Assist EPS (R-EPS) systems are gaining popularity, especially in mid- to high-end vehicles, for their higher torque support and suitability for integration with ADAS. Passenger cars continue to account for the largest share of EPS motor adoption.
Regional Analysis
North America:
• Strong presence of EPS system manufacturers and high EV penetration in the U.S. and Canada.
• Ongoing investments in autonomous vehicle R&D.
Europe:
• Leading the transition to electric mobility, with strict CO2 regulations pushing OEMs toward EPS adoption.
• Germany, France, and the UK are major hubs for EPS motor development.
Asia-Pacific:
• Fastest-growing region with a CAGR exceeding 9%.
• China, Japan, and South Korea dominate in both EPS production and consumption.
• Rising vehicle electrification in India and Southeast Asia further boosts market growth.
Middle East & Africa:
• Slow but steady adoption in commercial fleets and imported passenger vehicles.
• UAE and South Africa are key growth areas.
Latin America:
• Brazil and Mexico show growing interest in EPS integration as vehicle production modernizes.
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Regional Summary:
Asia-Pacific holds the largest market share, owing to high automotive output and EV adoption. Europe and North America follow closely due to their regulatory frameworks and technological innovations.
Market Dynamics
Growth Drivers:
• Surging EV and Hybrid Vehicle Production: EPS motors are a natural fit for electric drivetrains.
• Demand for Fuel Efficiency and Low Emissions: Replacing hydraulic steering with electric systems improves energy efficiency.
• Increased Integration with ADAS and Autonomous Driving: EPS motors enable lane keeping, auto-parking, and adaptive steering.
• OEM Shift Toward Lightweight, Efficient Components: EPS systems reduce overall vehicle weight and complexity.
Key Challenges:
• High Initial Cost of EPS Systems: Especially in price-sensitive developing markets.
• Complex Integration Requirements: Calibration and tuning of EPS with other systems require advanced software and controls.
• Reliability in Heavy-Duty Applications: EPS motors must deliver consistent performance under varying load conditions.
Emerging Trends:
• Software-Defined EPS Systems: Allowing real-time adjustment of steering feel and torque.
• Steer-by-Wire Technology: Eliminates mechanical linkage and paves the way for full automation.
• AI-Powered Predictive Maintenance: EPS systems embedded with sensors to detect wear or malfunction.
• Lightweight and Compact EPS Motors: Enabling better space utilization, especially in EV platforms.
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Competitor Analysis
Key Players:
• Robert Bosch GmbH
• Denso Corporation
• ZF Friedrichshafen AG
• NSK Ltd.
• Nidec Corporation
• Mitsubishi Electric Corporation
• Hyundai Mobis
• JTEKT Corporation
• Nexteer Automotive
• Mando Corporation
• Showa Corporation
• Valeo SA
• Thyssenkrupp AG
• Hitachi Astemo
• Schaeffler AG
• Continental AG
• Infineon Technologies
• GKN Automotive
• BorgWarner Inc.
• MAHLE Group
Summary:
The market is dominated by Bosch, Denso, and ZF, who offer integrated EPS systems and motors for a wide range of vehicle platforms. Companies are focusing on vertical integration, software capabilities, and regional expansion. Emerging players are innovating with lightweight brushless motors and AI-based EPS control systems.
Conclusion
The Automotive Electric Power Steering Motor Market is poised for significant growth as the automotive sector transitions to smarter, cleaner, and safer vehicles. From electrification to autonomy, EPS motors are central to the future of intelligent mobility.
With a CAGR of 7.7% and a market size projected to cross USD 53.82 billion by 2034, the market offers enormous opportunities for component suppliers, OEMs, and software providers alike.
Key Takeaways:
• EPS motors are becoming standard in modern vehicles, replacing hydraulic systems.
• Brushless and R-EPS systems lead in performance and adoption.
• Asia-Pacific is the largest and fastest-growing region.
• Integration with ADAS and steer-by-wire are the next frontiers.
This report is also available in the following languages : Japanese (自動車用電動パワーステアリング(EPS)モーター市場), Korean (자동차용 전기 파워 스티어링(EPS) 모터 시장), Chinese (汽车电动助力转向(EPS)电机市场), French (Marché des moteurs de direction assistée électrique (EPS) pour automobiles), German (Markt für elektrische Servolenkungen (EPS) in Kraftfahrzeugen), and Italian (Mercato dei motori servosterzo elettrico (EPS) per autoveicoli), etc.
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About Us
Exactitude Consultancy is a market research & consulting services firm which helps its client to address their most pressing strategic and business challenges. Our market research helps clients to address critical business challenges and also helps make optimized business decisions with our fact-based research insights, market intelligence, and accurate data.
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