Global Electric Power Steering Market 2020-2024

Global Electric Power Steering Market 2020-2024

Technavio has been monitoring the electric power steering market and it is poised to grow by 2.34 mn units during 2020-2024 progressing at a CAGR of 1% during the forecast period. Our reports on electric power steering market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the stringent regulations to control emissions, sharing the increase in production cost to OEMs and end-users, and rising adoption of EPS in entry-level and mid-segment vehicles. In addition, stringent regulations to control emissions is anticipated to boost the growth of the market as well.

The electric power steering market analysis includes application segment and geographic landscapes

Technavio's electric power steering market is segmented as below:

By Application

  • Passenger cars
  • LCVs
By Geographic Landscapes
  • APAC
  • Europe
  • North America
  • South America
  • MEA
This study identifies the steer-by-wire technology gaining adoption in CVs as one of the prime reasons driving the electric power steering market growth during the next few years.

"Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our electric power steering market covers the following areas:
  • Electric power steering market sizing
  • Electric power steering market forecast
  • Electric power steering market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading electric power steering market vendors that include DENSO Corp., Hitachi Ltd., Hyundai Mobis Co. Ltd., JTEKT Corp., Mando Corp., Nexteer Automotive Corp., NSK Ltd., Robert Bosch GmbH, thyssenkrupp AG, and ZF Friedrichshafen AG. Also, the electric power steering market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.


  • Executive Summary
  • Market Landscape
    • Market ecosystem
      • Table Parent market
      • Table Market characteristics
    • Value chain analysis
      • Table Value chain analysis – Global automotive components and accessories market
      • Inputs
      • Inbound logistics
      • Operations
      • Distribution and logistics
      • Marketing and sales
      • Service
  • Market Sizing
    • Market definition
      • Table Offerings of vendors included in the market definition
    • Market segment analysis
      • Table Market segments
    • Market size 2019
    • Market outlook: Forecast for 2019 - 2024
      • Estimating growth rates for emerging and high-growth markets
      • Estimating growth rates for mature markets
        • Table Global - Market size and forecast 2019 - 2024 (million units)
        • Table Global electric power steering market 2019-2024 ($ billion)
        • Table Global electric power steering market 2019-2024 (million units), exclusive of COVID-19 impact
        • Table Global market: Year-over-year growth 2019 - 2024 (%)
  • Five Forces Analysis
    • Five forces summary
      • Table Five forces analysis 2019 & 2024
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2019
  • Market Segmentation by Application
    • Market segments
      • Table Application - Market share 2019-2024 (%)
    • Comparison by Application
      • Table Comparison by Application
    • Passenger cars - Market size and forecast 2019- 2024
      • Table Passenger cars - Market size and forecast 2019-2024 (million units)
      • Table Global electric power steering market in passenger cars segment 2019-2024 (million units), exclusive of COVID-19 impact
      • Table Passenger cars - Year-over-year growth 2019-2024 (%)
    • LCVs - Market size and forecast 2019-2024
      • Table LCVs - Market size and forecast 2019-2024 (million units)
      • Table Global electric power steering market in LCVs segment 2019-2024 (million units), exclusive of COVID-19 impact
      • Table LCVs - Year-over-year growth 2019-2024 (%)
    • Market opportunity by Application
      • Table Market opportunity by Application
  • Customer Landscape
    • Table Customer landscape
  • Geographic Landscape
    • Geographic segmentation
      • Table Market share by geography 2019-2024 (%)
    • Geographic comparison
      • Table Geographic comparison
    • APAC - Market size and forecast 2019-2024
      • Table APAC - Market size and forecast 2019-2024 (million units)
      • Table Electric power steering market in APAC 2019-2024 (million units), exclusive of COVID-19 impact
      • Table APAC - Year-over-year growth 2019-2024 (%)
    • Europe - Market size and forecast 2019-2024
      • Table Europe - Market size and forecast 2019-2024 (million units)
      • Table Electric power steering market in Europe 2019-2024 (million units), exclusive of COVID-19 impact
      • Table Europe - Year-over-year growth 2019-2024 (%)
    • North America - Market size and forecast 2019- 2024
      • Table North America - Market size and forecast 2019-2024 (million units)
      • Table Electric power steering market in North America 2019-2024 (million units), exclusive of COVID-19 impact
      • Table North America - Year-over-year growth 2019-2024 (%)
    • South America - Market size and forecast 2019- 2024
      • Table South America - Market size and forecast 2019-2024 (million units)
      • Table Electric power steering market in South America 2019-2024 (million units), exclusive of COVID-19 impact
      • Table South America - Year-over-year growth 2019-2024 (%)
    • MEA - Market size and forecast 2019-2024
      • Table MEA - Market size and forecast 2019-2024 (million units)
      • Table Electric power steering market in MEA 2019-2024 (million units), exclusive of COVID-19 impact
      • Table MEA - Year-over-year growth 2019-2024 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity by geography
      • Table Market opportunity by geography (million units)
  • Drivers, Challenges, and Trends
    • Market drivers
      • Stringent regulations to control emissions
      • Sharing the increase in production cost to OEMs and end-users
      • Rising adoption of EPS in entry-level and mid-segment vehicles
    • Market challenges
      • Sharp decline in automobile production and sales
      • Fluctuating costs of raw materials
      • Safety concerns due to faulty steering components in EPS
        • Table Impact of drivers and challenges
    • Market trends
      • Steer-by-wire technology gaining adoption in CVs
      • Development of portable steering wheel angle measurement sensors
      • Development of 3D magnetic steering sensors for EPS
  • Vendor Landscape
    • Overview
    • Vendor landscape
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
      • Table Industry risks
  • Vendor Analysis
    • Vendors covered
      • Table Vendors covered
    • Market positioning of vendors
      • Table Market positioning of vendors
    • DENSO Corp.
      • Table DENSO Corp. - Overview
      • Table DENSO Corp. - Business segments
      • Table DENSO Corp. - Key news
      • Table DENSO Corp. - Key offerings
      • Table DENSO Corp. - Segment focus
    • Hitachi Ltd.
      • Table Hitachi Ltd. - Overview
      • Table Hitachi Ltd. - Business segments
      • Table Hitachi Ltd. - Key news
      • Table Hitachi Ltd. - Key offerings
      • Table Hitachi Ltd. - Segment focus
    • Hyundai Mobis Co. Ltd.
      • Table Hyundai Mobis Co. Ltd. - Overview
      • Table Hyundai Mobis Co. Ltd. - Business segments
      • Table Hyundai Mobis Co. Ltd. - Key news
      • Table Hyundai Mobis Co. Ltd. - Key offerings
      • Table Hyundai Mobis Co. Ltd. - Segment focus
    • JTEKT Corp.
      • Table JTEKT Corp. - Overview
      • Table JTEKT Corp. - Business segments
      • Table JTEKT Corp. - Key news
      • Table JTEKT Corp. - Key offerings
      • Table JTEKT Corp. - Segment focus
    • Mando Corp.
      • Table Mando Corp. - Overview
      • Table Mando Corp. - Product and service
      • Table Mando Corp. - Key offerings
    • Nexteer Automotive Corp.
      • Table Nexteer Automotive Corp. - Overview
      • Table Nexteer Automotive Corp. - Business segments
      • Table Nexteer Automotive Corp. - Key news
      • Table Nexteer Automotive Corp. - Key offerings
      • Table Nexteer Automotive Corp. - Segment focus
    • NSK Ltd.
      • Table NSK Ltd. - Overview
      • Table NSK Ltd. - Business segments
      • Table NSK Ltd. - Key offerings
      • Table NSK Ltd. - Segment focus
    • Robert Bosch GmbH
      • Table Robert Bosch GmbH - Overview
      • Table Robert Bosch GmbH - Business segments
      • Table Robert Bosch GmbH - Key news
      • Table Robert Bosch GmbH - Key offerings
      • Table Robert Bosch GmbH - Segment focus
    • thyssenkrupp AG
      • Table thyssenkrupp AG - Overview
      • Table thyssenkrupp AG - Business segments
      • Table thyssenkrupp AG - Key news
      • Table thyssenkrupp AG - Key offerings
      • Table thyssenkrupp AG - Segment focus
    • ZF Friedrichshafen AG
      • Table ZF Friedrichshafen AG - Overview
      • Table ZF Friedrichshafen AG - Business segments
      • Table ZF Friedrichshafen AG - Key news
      • Table ZF Friedrichshafen AG - Key offerings
      • Table ZF Friedrichshafen AG - Segment focus
  • Appendix
    • Scope of the report
      • Market definition
      • Objectives
      • Notes and Caveats
    • Currency conversion rates for US$
      • Table Currency conversion rates for US$
    • Research methodology
      • Table Research Methodology
      • Table Validation techniques employed for market sizing
      • Table Information sources
    • List of abbreviations
      • Table List of abbreviations

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook