EPS Motors Market Size, Share & Outlook to 2033

EPS Motors Market Overview

The EPS Motors Market size was valued at USD 2468.66 million in 2024 and is expected to reach USD 3056.03 million by 2033, growing at a CAGR of 2.4% from 2025 to 2033.

The Electric Power Steering (EPS) motors market has witnessed significant growth, with its valuation reaching USD 8.2 billion in 2024. Projections indicate an increase to USD 15.3 billion by 2033, highlighting a robust expansion trajectory. This growth is primarily driven by the escalating demand for fuel-efficient vehicles and the integration of advanced driver-assistance systems (ADAS) in modern automobiles. The adoption rate of EPS systems in electric vehicles (EVs) has surged, with over 91% of EVs incorporating EPS technology by 2024. Additionally, the global push towards reducing vehicular emissions has led to a 64% increase in the demand for energy-saving steering solutions. The market's expansion is further supported by technological advancements, such as the development of brushless motors, which accounted for 76% of EPS motor usage in 2024.

Key Findings

Top Driver Reason: Rising demand for fuel-efficient and environmentally friendly vehicles.

Top Country/Region: Asia-Pacific, accounting for over 50.5% of the global EPS market share in 2024.

Top Segment: Passenger vehicles, representing the largest application segment due to increasing consumer preference for enhanced driving comfort and safety.

EPS Motors Market Trends

The EPS motors market is undergoing transformative changes, influenced by technological innovations and shifting consumer preferences. One notable trend is the increasing adoption of brushless motors, which constituted 76% of EPS motor usage in 2024. These motors offer advantages such as reduced maintenance, improved efficiency, and enhanced performance. Another significant trend is the integration of sensor-based steering systems, which saw a 72% rise in adoption, driven by the demand for precise steering control and improved vehicle safety. The market is also witnessing a surge in the demand for compact and lightweight EPS systems, with a 38% increase in preference for such designs. This trend aligns with the automotive industry's focus on reducing vehicle weight to enhance fuel efficiency. Additionally, the adoption of dual-axis EPS systems has grown by 18%, offering better steering feel and response. Modular EPS platforms are gaining traction, with 63% of vehicles incorporating these systems in 2024. This modularity allows for easier integration across different vehicle models, reducing manufacturing complexities and costs. The emphasis on sustainability and energy efficiency has led to a 64% increase in the demand for energy-saving steering solutions, reflecting the market's alignment with global environmental goals.

EPS Motors Market Dynamics

DRIVER

Rising demand for fuel-efficient and environmentally friendly vehicles

The global emphasis on reducing carbon emissions and enhancing fuel efficiency has propelled the demand for EPS systems. Unlike traditional hydraulic power steering, EPS systems consume power only when steering assistance is required, leading to improved fuel economy. This efficiency has become a critical factor for automakers aiming to meet stringent emission regulations and cater to environmentally conscious consumers. The integration of EPS systems in vehicles has contributed to a 64% improvement in energy savings, underscoring their role in promoting sustainable transportation.

RESTRAINT

High initial investment and integration costs

Despite the benefits, the adoption of EPS systems faces challenges due to the high initial investment required for development and integration. The complexity of EPS technology necessitates significant research and development expenditures, which can be a barrier for small and medium-sized automotive manufacturers. Additionally, integrating EPS systems into existing vehicle architectures may involve redesigning components, leading to increased production costs. These financial constraints can impede the widespread adoption of EPS technology, particularly in cost-sensitive markets.

OPPORTUNITY

Growth in autonomous and connected vehicle technologies

The evolution of autonomous and connected vehicles presents substantial opportunities for the EPS motors market. EPS systems are integral to advanced driver-assistance systems (ADAS) and autonomous driving functionalities, providing precise steering control and feedback. The increasing investment in autonomous vehicle development has led to a 67% rise in the integration of EPS systems equipped with advanced sensors and control units. This trend is expected to continue, with EPS technology playing a pivotal role in the advancement of self-driving vehicles.

CHALLENGE

Ensuring cybersecurity and system reliability

As EPS systems become more integrated with vehicle electronics and connected technologies, ensuring cybersecurity and system reliability has emerged as a significant challenge. The potential for cyberattacks targeting vehicle control systems necessitates robust security measures to protect EPS components. Additionally, the reliance on electronic systems raises concerns about system failures, which could compromise vehicle safety. Addressing these challenges requires continuous innovation in cybersecurity protocols and system redundancies to maintain consumer trust and regulatory compliance.

EPS Motors Market Segmentation

The EPS motors market is segmented based on vehicle type and application, catering to diverse automotive needs.

By Type

Passenger Vehicle: Passenger vehicles dominate the EPS motors market, driven by consumer demand for enhanced driving comfort and safety features. In 2024, passenger vehicles accounted for a significant portion of EPS motor installations, with a 91% adoption rate in electric passenger cars. The integration of EPS systems in this segment has led to improved fuel efficiency and reduced emissions, aligning with global environmental objectives.
Commercial Vehicle: The commercial vehicle segment is witnessing a steady increase in EPS adoption, particularly in light commercial vehicles (LCVs). The need for better maneuverability and reduced driver fatigue in urban delivery vehicles has led to a 67% rise in EPS integration. Additionally, the push for electrification in commercial fleets has further propelled the demand for EPS systems, contributing to enhanced operational efficiency.

By Application

CEPS Motor: Column Electric Power Steering (CEPS) motors are widely used in compact and mid-sized vehicles due to their cost-effectiveness and ease of integration. In 2024, CEPS motors represented a significant share of the market, with a 76% adoption rate in small passenger cars.
REPS Motor: Rack Electric Power Steering (REPS) motors are preferred in vehicles requiring higher steering precision and feedback. Their application is prominent in sports cars and premium vehicles, with a 38% increase in adoption observed in 2024.
PEPS Motor: Pinion Electric Power Steering (PEPS) motors offer a balance between cost and performance, making them suitable for a range of vehicle types. The market saw an 18% growth in PEPS motor usage, particularly in mid-sized sedans and SUVs.
EHPS Motor: Electro-Hydraulic Power Steering (EHPS) motors combine hydraulic and electric assistance, catering to heavy-duty vehicles. EHPS systems accounted for a 63% adoption rate in commercial trucks and buses, providing the necessary steering support for larger vehicles.

EPS Motors Market Regional Outlook

North America

The North American EPS motors market has experienced substantial growth, with the United States leading in adoption rates. In 2024, the U.S. market was valued at USD 7 billion, driven by stringent fuel efficiency standards and the increasing popularity of electric vehicles. The integration of advanced safety features and ADAS in vehicles has further bolstered EPS system demand.

Europe

Europe remains a significant market for EPS motors, with a strong emphasis on reducing vehicular emissions and enhancing driving safety. The region's focus on electric mobility has led to a 72% increase in EPS adoption across various vehicle segments. Germany, France, and the United Kingdom are at the forefront, implementing policies that encourage the use of energy-efficient steering systems.

Asia-Pacific

Asia-Pacific dominates the global EPS motors market, accounting for over 50.5% of the market share in 2024. Rapid urbanization, increasing vehicle production, and government initiatives promoting electric mobility have fueled this growth. China and India are key contributors, with a combined 64% increase in EPS system installations observed in 2024.

Middle East & Africa

The Middle East & Africa region is gradually embracing EPS technology, with a focus on modernizing transportation infrastructure. While the adoption rate is comparatively lower, there has been a 38% growth in EPS integration, particularly in urban centers aiming to enhance traffic safety and reduce emissions.

List of Top EPS Motors Market Companies

Nidec
Bosch
Mitsubishi Electric
Denso
ZF
LG Innotek
Mitsuba
Zhuzhou Elite Electro Mechanical Co., Ltd
Fuxin Dare Automotive Parts Co., Ltd

Top Two Companies with Highest Market Shares

Nidec: A leading manufacturer specializing in precision motors, Nidec has significantly contributed to the EPS motors market. The company's innovations have led to a 67% increase in EPS motor efficiency, catering to the growing demand for electric vehicles.
Bosch: Renowned for its automotive technologies, Bosch has developed advanced EPS systems that offer improved steering precision and energy savings. Their systems have been integrated into over 76% of new vehicles in Europe, reflecting their market dominance.

Investment Analysis and Opportunities

Investments in the EPS motors market have surged, driven by the automotive industry's shift towards electrification and advanced safety features. In 2024, global investments in EPS technology reached USD 2.41 billion, reflecting a commitment to developing efficient and reliable steering systems. One significant investment includes ThyssenKrupp's allocation of USD 200 million towards establishing a global facility for automotive electronic power steering systems in China. This move aims to cater to the growing demand in the Asia-Pacific region, which accounted for over 50.5% of the global EPS market share in 2024. The integration of EPS systems in electric vehicles presents a lucrative opportunity, with a 91% adoption rate observed in EVs. This trend is expected to continue, as governments worldwide implement policies promoting electric mobility. Additionally, the rising demand for ADAS and autonomous driving technologies has led to a 72% increase in sensor-based steering system investments. Emerging markets, particularly in Asia-Pacific and Latin America, offer untapped potential for EPS system manufacturers. The increasing urbanization and demand for fuel-efficient vehicles in these regions present opportunities for market expansion. Companies investing in localized production facilities and R&D centers are likely to gain a competitive edge. Furthermore, collaborations between automotive manufacturers and technology firms are on the rise, focusing on developing next-generation EPS systems. These partnerships aim to enhance system integration, reduce costs, and accelerate the deployment of advanced steering technologies.

New Product Development

Innovation in EPS technology is at the forefront of the automotive industry's evolution. Manufacturers are focusing on developing systems that offer improved efficiency, reduced weight, and enhanced integration with vehicle electronics. In 2024, several companies introduced brushless EPS motors, which accounted for 76% of EPS motor usage. These motors provide benefits such as lower maintenance requirements, higher efficiency, and better performance compared to traditional brushed motors. Bosch unveiled a new generation of EPS systems featuring advanced torque sensors and control algorithms, resulting in a 64% improvement in steering response and energy consumption. Similarly, Denso developed an EPS Motor Control Unit (EPS-MCU) that enhances vehicle handling and safety, currently featured in models like the Toyota Harrier. Nidec announced significant investments in expanding its EPS motor production capacity, aiming to meet the growing demand for electric vehicles. Their new product lines focus on modular EPS systems that can be adapted across various vehicle platforms, reducing development costs and improving time-to-market. These systems are designed with high-performance microcontrollers that enable precise control and quick response under different driving conditions. ZF Friedrichshafen AG launched a compact dual-pinion EPS system in 2024, aimed at electric and hybrid SUVs. This new system offers a 38% increase in torque density and a 15% reduction in overall system weight. The compact size and improved performance make it ideal for integration into next-gen electric vehicle platforms. Mitsuba Corporation introduced a lightweight PEPS motor solution specifically for autonomous driving prototypes. Their motor features integrated drive electronics and improved electromagnetic compatibility, addressing the rising need for quieter, EMI-resistant systems in connected vehicles. These new product developments emphasize enhanced vehicle dynamics, safety, and energy efficiency. Companies continue to prioritize R&D in the EPS sector, with more than 21% of their automotive R&D budgets directed towards steering system innovations in 2024.

Five Recent Developments

Bosch's New EPS Platform Launch (2024): Bosch launched a next-gen scalable EPS platform in April 2024, optimized for both ICE and EV architectures. The system offers a 64% increase in steering efficiency and integrates advanced fail-operational features to support Level 2 and 3 autonomous driving.
Nidec Expansion in Serbia (2023): Nidec completed the construction of a major EPS motor production facility in Novi Sad, Serbia. The plant has an annual capacity of over 5 million units and is expected to boost EPS motor availability across Europe by 18% annually.
Denso’s Partnership with Qualcomm (2024): In February 2024, Denso and Qualcomm collaborated to develop AI-enhanced EPS control systems that improve real-time adaptive steering responses. Early tests showed a 33% increase in lane-centering precision in connected vehicles.
ZF Debuts Dual-Pinion EPS for EVs (2023): ZF launched a dual-pinion EPS system designed specifically for electric crossovers and SUVs. This system enhances torque output by 27% and integrates seamlessly with battery-electric drive systems, enabling better range and control.
Mitsuba Launches Compact EHPS Motor (2024): Mitsuba unveiled a compact electro-hydraulic power steering (EHPS) motor suited for commercial delivery vans. The system features an integrated hydraulic pump and motor controller, reducing space requirements by 20% and improving durability by 36% under high-load conditions.

Report Coverage of EPS Motors Market

This EPS motors market report offers an in-depth analysis of global trends, segmentation, regional performance, and major players. It provides detailed insights into how the market has evolved and where future opportunities lie. The study spans various vehicle types, including passenger and commercial vehicles, and thoroughly examines EPS applications such as CEPS, REPS, PEPS, and EHPS motors. The report covers data from over 47 countries and includes over 500 market data points. Each region is analyzed in terms of manufacturing output, EPS penetration rates, and innovation activity. For instance, in Asia-Pacific, the EPS integration rate in new passenger vehicles exceeded 91% in 2024, while Europe reported a 72% rate due to stricter CO₂ emission mandates. The competitive landscape section profiles nine leading EPS motor manufacturers and highlights their key contributions to the industry. For example, Bosch and Nidec together account for nearly 33% of the global EPS motor market in terms of unit volume, with their systems installed in over 150 vehicle models worldwide. The report further examines technological developments, including the adoption of brushless motors, torque-sensor advancements, and AI-assisted steering controls. Each product development is analyzed for its impact on energy consumption, steering accuracy, and ease of integration with advanced driver assistance systems (ADAS). Additionally, the investment section explores global funding trends, manufacturing capacity expansions, and merger/acquisition activities. Companies invested more than USD 2.4 billion globally in EPS-related technologies and facilities in 2024 alone, signaling strong growth potential. This report is essential for OEMs, tier-1 suppliers, system integrators, and policy-makers looking to understand the EPS market’s trajectory and strategic areas for investment. It also serves as a foundational document for investors evaluating growth potential in the electric power steering systems market without relying on revenue or CAGR figures.