Future of Automotive Steering: Insights into the Electronic Power Steering (EPS) Market

According to The Insight Partners, the Global Electronic Power Steering (EPS) Market is on a significant growth path, driven by the automotive industry's transition to more fuel-efficient, safe, and technologically advanced vehicles. EPS systems, which substitute traditional hydraulic steering with electric motor assistance, enhance driving comfort, precision, and integration with advanced automotive technologies like ADAS and electric vehicles (EVs). This evolution is transforming driving experiences worldwide, positioning EPS as a critical technology for modern and future vehicles. The global EPS market was valued at approximately US$ 52.69 billion in 2019 and is forecasted to grow at a CAGR of 3.63% from 2020 to 2027, reflecting its expanding adoption and technological advancements across regions.

Key Market Insights & Trends by 2027:

Growing global adoption of electric and hybrid vehicles driving EPS demand due to better energy efficiency and integration possibilities.

Increasing focus on vehicle safety and precision steering systems fueled by government regulations and consumer preference.

Technological advancements in steer-by-wire and modular EPS platforms offering cost-effective, scalable solutions across vehicle segments.

Rising vehicle electrification and integration with ADAS pushing the market towards smarter steering functionalities.

Market expansion driven by Asia-Pacific as the largest and fastest-growing regional market, followed by North America and Europe.

OEM collaborations and regional manufacturing expansions, particularly in India and China, enhancing localized EPS supply chains.

Continued R&D investment leading to innovations in lightweight, high-performance EPS components optimized for electric vehicles.

Mounting consumer demand for driving comfort, reduced maintenance, and fuel efficiency boosting the adoption of EPS systems.

Growing government incentives and emission norms promoting electric vehicles contribute indirectly to EPS market growth.

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Regional and Global Analysis:

Asia-Pacific dominates the EPS market with significant infrastructure growth, increasing EV adoption, and rising consumer awareness.

North America and Europe remain hubs of technology and innovation, with early adoption of steer-by-wire technologies.

Emerging markets in Latin America, the Middle East, and Africa present new growth opportunities with expanding automotive sectors.

Localized manufacturing initiatives in India and China are strategically important to meet regional growing demand efficiently.

Market Size and Forecast Overview by 2027:

The global EPS market is expected to continue its robust CAGR growth nearing 7%, reaching substantial valuation by the end of 2027.

Asia-Pacific holds the largest market share with rapid penetration in passenger and commercial vehicles.

Continuous technological development in EPS and integration with electric vehicle architectures fuels consistent market expansion globally.

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Updated Market News

In 2025, notable expansions such as Nexteer Automotive’s Modular Pinion Assist EPS system and Rane NSK’s localized EPS solutions in India underline the shift toward scalable and efficient EPS designs tailored to diverse vehicle platforms. Industry leaders are focusing on reducing integration costs and improving system reliability, aligning with global trends in sustainability and vehicle electrification.

This evolving EPS landscape reflects the automotive sector's broader transition to smarter, greener, and safer vehicles, establishing Electronic Power Steering as an indispensable technology of the future.

Conclusion

The Global Electronic Power Steering (EPS) Market is set for steady growth, driven by the automotive industry's relentless pursuit of fuel efficiency, enhanced safety, and advanced technological integration. EPS technology, integral to modern and next-generation vehicles, continues to replace traditional hydraulic systems by providing improved driving comfort, precision, and compatibility with electric and autonomous vehicles. The Asia-Pacific region leads market adoption due to a growing preference for premium vehicles and escalating electric vehicle production.

About The Insight Partners

The Insight Partners provides comprehensive syndicated and tailored market research services in the healthcare, technology, and industrial domains. Renowned for delivering strategic intelligence and practical insights, the firm empowers businesses to remain competitive in ever-evolving global markets.

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