Italy Electric Power Steering Market Report and Forecast 2025-2034

Italy Electric Power Steering Market Outlook

The Italy electric power steering market size was valued at USD 277.36 million in 2023. The market is further projected to grow at a CAGR of 4.9% between 2024 and 2032, reaching a value of USD 430.19 million by 2032.

Key Takeaways

• The surge in demand for vehicles worldwide is a key driver fuelling the Italy electric power steering market growth, which is witnessing remarkable technological advancements, including Steer by Wire (SbW) and control technology.

• EPS systems are also playing a pivotal role in enabling autonomous driving, enhancing safety and reducing driver workload.

• As per industry reports, the passenger cars segment is anticipated to gain a larger share of the market due to advancements in technology in cars and the growing demand for connected cars across the world.

An electric power steering has benefits over traditional hydraulic power steering systems as it uses an electric motor, instead of a pump, to steer the wheel, which reduces the load on the engine, improves fuel efficiency, and reduces CO2 emissions. The electric power steering market in Italy is also expected to be driven by the increasing demand for fuel-efficient vehicles and the growing trend of autonomous driving.

Italian automaker, Fiat Chrysler Automobiles (FCA), has been incorporating electric power steering systems in their vehicles to improve fuel efficiency and reduce emissions. Companies like Waymo, a subsidiary of Alphabet Inc., are pioneering the development of self-driving vehicles that rely on sophisticated EPS systems for autonomous steering capabilities.

Moreover, electric vehicle manufacturers like Tesla have been at the forefront of vehicle electrification, utilising advanced EPS systems to enhance steering control and efficiency. Tesla's Model 3, Model S, and Model X showcase the integration of EPS technology in electric vehicles, contributing to their popularity and performance.

The column assist segment is expected to dominate the Italy electric power steering market share during the forecast period due to its high penetration in passenger vehicles. They enhance steering agility, stability, low-temperature resistance, and low power consumption, making them a preferred choice for vehicles in Italy.

The rack assist type (REPS) segment in the market is designed for heavier vehicles to handle higher front-axle loads. They also save valuable space in engine compartments, reduce assembly costs, and increase performance integrity compared to systems with remote electronic controls. On the other hand, PEPS systems are known for their good steering agility, stability, and low power consumption. They are favoured for their ease of integration and secondary development, showing strong vitality in the power steering systems of automobiles in Italy.

Market Segmentation

Italy Electric Power Steering Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

• Rack Assist Type (REPS)

• Column Assist Type (CEPS)

• Pinion Assist Type (PEPS)

Market Breakup by Component

• Steering Rack/Column

• Sensors

• Electric Motor

• Others

Market Breakup by Vehicle Type

• Passenger Car

• Commercial Vehicle

Market Breakup by Sales Channel

• Original Equipment Manufacturer (OEM)

• Aftermarket

Competitive Landscape

Market players are capitalising on the growing demand for advanced power-driven steering systems, coupled with regulations and initiatives towards decarbonisation.

• Mitsubishi Electric Corporation

• Denso Corporation

• Knorr-Bremse AG 

• thyssenkrupp AG 

• ZF Friedrichshafen AG 

• Nexteer Automotive Corporation 

• Dowlais Group Plc (GKN Automotive Ltd.)  

• NSK Ltd.

• GENERAL RICAMBI S.P.A 

• Others

Key Highlights of the Report