Latest Insights on Executive Summary Electric Power Steering Motors Market Share and Size

CAGR Value

The global electric power steering motors market size was valued at USD 33.91 billion in 2025 and is expected to reach USD 55.16 billion by 2033, at a CAGR of 6.27% during the forecast period

This quality Electric Power Steering Motors report is structured with full commitment and transparency in research. This market research report offers CAGR value fluctuation during the forecast period of for the market. This market report provides statistics on the current state of the industry as a valuable source of guidance and direction for companies and investors interested in this market. Market share analysis and key trend analysis are the two other major success factors of this market report. The competitive analysis covered in this Electric Power Steering Motors Market report helps to get ideas about the strategies of key players in the market.

The Electric Power Steering Motors business document is generated by performing high level market research analysis of key marketplace segments to identify opportunities, challenges, drivers, and market structures for the clients. This global market report lends a hand in determining and optimizing each stage in the lifecycle of industrial process that includes engagement, acquisition, retention, and monetization. Being a wide-ranging market research report, it is sure to help grow your business in several ways. Electric Power Steering Motors Market report potentially presents with the numerous insights and business solutions that will help you stay ahead of the competition.

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Electric Power Steering Motors Business Outlook

Segments

- By Component: Electric Motor, Steering Column, Sensors, Others
- By Electric Vehicle: Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV)
- By Aftermarket Component: Electric Motor, Steering Column, Sensors, Others
- By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket

The global electric power steering motors market is segmented based on different components, electric vehicle types, aftermarket components, and sales channels. The electric motors, steering columns, sensors, and other components form the primary segmentation based on the components used in the electric power steering systems. Further division can be seen in the electric vehicle types where the market caters to battery electric vehicles (BEV), hybrid electric vehicles (HEV), and plug-in hybrid electric vehicles (PHEV). Additionally, the market is segmented based on aftermarket components which include electric motors, steering columns, sensors, and others. Finally, the sales channels segment the market into original equipment manufacturers (OEM) and aftermarket providers.

Market Players

- Robert Bosch GmbH
- Mitsubishi Electric Corporation
- Nexteer Automotive
- NSK Ltd.
- JTEKT Corporation
- Delphi Technologies
- Hitachi Automotive Systems, Ltd.
- Mando Corporation
- ZF Friedrichshafen AG
- ThyssenKrupp AG

Various market players dominate the global electric power steering motors market, each contributing significantly to its growth and development. Companies like Robert Bosch GmbH, Mitsubishi Electric Corporation, Nexteer Automotive, NSK Ltd., and JTEKT Corporation are at the forefront of innovation and technology. Other key players such as Delphi Technologies, Hitachi Automotive Systems, Ltd., Mando Corporation, ZF Friedrichshafen AG, and ThyssenKrupp AG also play a crucial role in shaping the market dynamics and competitiveness. These market players are actively involved in research and development initiatives to enhance product offerings, expand their market presence, and gain a competitive edge in the global electric power steering motors market.

DDDDDThe global electric power steering motors market is experiencing significant growth due to the increasing demand for fuel-efficient and technologically advanced vehicles. Key market players are focused on developing innovative solutions to cater to the evolving needs of the automotive industry. As electric vehicles gain traction globally, the demand for electric power steering systems is expected to rise, driving the market growth. The shift towards electric power steering systems is primarily attributed to their improved performance, enhanced safety features, and lower maintenance requirements compared to traditional hydraulic steering systems.

Market players such as Robert Bosch GmbH, Mitsubishi Electric Corporation, Nexteer Automotive, NSK Ltd., and JTEKT Corporation are investing heavily in research and development activities to introduce cutting-edge technologies in electric power steering systems. These players are leveraging advancements in sensor technologies, control systems, and electric motors to enhance the efficiency and reliability of electric power steering systems. Additionally, collaborations and partnerships with automotive manufacturers are enabling market players to expand their product portfolios and strengthen their market presence.

Furthermore, the market segmentation based on electric vehicle types, including battery electric vehicles (BEV), hybrid electric vehicles (HEV), and plug-in hybrid electric vehicles (PHEV), reflects the diverse applications of electric power steering systems in the automotive industry. The increasing adoption of electric vehicles, fueled by stringent emission regulations and growing environmental concerns, is driving the demand for electric power steering systems across different vehicle segments. Market players are customizing their offerings to suit the specific requirements of electric vehicles, integrating advanced technologies to optimize performance and energy efficiency.

In the aftermarket component segment, market players are focusing on providing high-quality replacement components and repair services to meet the maintenance needs of electric power steering systems. The aftermarket segment presents lucrative opportunities for players to offer value-added services, such as customization options, product upgrades, and technical support. Original equipment manufacturers (OEMs) and aftermarket providers play a crucial role in ensuring the availability of electric power steering components and systems to meet the growing demand from automotive repair and maintenance workshops.

Overall, the global electric power steering motors market is poised for substantial growth, driven by technological advancements, increasing electric vehicle sales, and strategic collaborations among key market players. With a strong emphasis on innovation, quality, and customer satisfaction, market players are well-positioned to capitalize on the evolving trends in the automotive industry and maintain a competitive edge in the global market landscape.The global electric power steering motors market is witnessing significant growth driven by several key factors. The increasing demand for fuel-efficient and technologically advanced vehicles is a major driver propelling market growth. As consumers and regulatory bodies place a greater emphasis on sustainability and environmental consciousness, the adoption of electric vehicles continues to rise, consequently fueling the demand for electric power steering systems. These systems offer improved performance, enhanced safety features, and lower maintenance requirements compared to traditional hydraulic steering systems, making them an attractive choice for vehicle manufacturers and consumers alike.

Market players in the electric power steering motors sector are making substantial investments in research and development to introduce innovative solutions tailored to meet the evolving needs of the automotive industry. Companies like Robert Bosch GmbH, Mitsubishi Electric Corporation, Nexteer Automotive, and others are leveraging advancements in sensor technologies, control systems, and electric motors to enhance the efficiency and reliability of electric power steering systems. By focusing on cutting-edge technologies, these market players aim to stay ahead of the competition and cater effectively to the growing demand for electric power steering solutions.

The segmentation of the market based on electric vehicle types, such as battery electric vehicles (BEV), hybrid electric vehicles (HEV), and plug-in hybrid electric vehicles (PHEV), reflects the diverse applications of electric power steering systems across different vehicle segments. The increasing adoption of electric vehicles worldwide, driven by stringent emission regulations and environmental concerns, underscores the importance of electric power steering systems in the automotive industry. Market players are customizing their offerings to align with the unique requirements of electric vehicles, integrating advanced technologies to optimize performance and energy efficiency.

In the aftermarket component segment, market players are focusing on providing high-quality replacement components and repair services to address the maintenance needs of electric power steering systems. The aftermarket segment offers lucrative opportunities for players to offer value-added services, including customization options, product upgrades, and technical support. Original equipment manufacturers (OEMs) and aftermarket providers together play a crucial role in ensuring the availability of electric power steering components and systems to meet the increasing demand from automotive repair and maintenance workshops.

In conclusion, the global electric power steering motors market stands poised for substantial growth as key market players continue to drive innovation, focus on quality, and enhance customer satisfaction. Leveraging technological advancements and strategic collaborations, market players are well-positioned to capitalize on the evolving trends in the automotive industry and maintain a competitive edge in the global market landscape. As the demand for electric vehicles continues to surge, the electric power steering market is expected to experience sustained growth in the coming years, offering ample opportunities for innovation and expansion within the sector.

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Electric Power Steering Motors Market – Analyst-Ready Question Batches

• What is the current demand volume of the Electric Power Steering Motors Market?
• How is the market for Electric Power Steering Motors expected to evolve in the next decade?
• What segmentation criteria are applied in the Electric Power Steering Motors Market study?
• Which players have the highest market share in the Electric Power Steering Motors Market?
• What regions are assessed in the country-level analysisfor Electric Power Steering Motors Market?
• Who are the top-performing companies in the Electric Power Steering Motors Market?

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