Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

North America Electric Power Steering Market Share

Leading electric power steering manufacturers have a strong presence in the U.S., which is also home to electric vehicles expected to use EPS. The country's robust automobile manufacturing sector and investments in automotive technologies are driving the growth of the North America electric power steering market.

 

With a focus on innovation and safety, electric power steering systems are poised to play a pivotal role in shaping the future of vehicle steering and autonomy driving the North America electric power steering market development.

 

North America Electric Power Steering Market Report Snapshots

North America Electric Power Steering Market Size

North America Electric Power Steering Market Growth

North America Electric Power Steering Market Analysis

North America Electric Power Steering Market Share

North America Electric Power Steering Companies

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Outline the Scope

Key Questions Answered in the Report

The market is estimated to be valued at USD 6.26 billion in 2023.

The North America electric power steering market is assessed to grow at a CAGR of 4.1% between 2024 and 2032.

The electric power steering market is expected to grow significantly to reach USD 8.99 billion in 2032.

The market is categorised according to its product type, which includes rack assist type (REPS), column assist type (CEPS), and pinion assist type (PEPS).

The competitive landscape consists of Mitsubishi Electric Corporation, Robert Bosch GmbH, Denso Corporation, JTEKT Corporation, NSK Ltd., thyssenkrupp AG, ZF Friedrichshafen AG, Knorr-Bremse AG, Dowlais Group Plc (GKN Automotive Ltd.), Nexteer Automotive Corporation, and others.

The market is driven by factors that include evolving consumer preferences, leveraging digital platforms and natural ingredient trends, among others.

The market is categorised according to its component, which includes steering rack/column, sensors, electric motor, and others.

Direct Adaptive Steering employs electronic signals to transmit driver steering inputs more rapidly than traditional mechanical systems. Simultaneously, this innovative system swiftly communicates road surface information to the driver in a manner that is both faster and more intuitive.

The market is broken down into the United States of America and Canada.

The market is categorised according to its vehicle type, which includes passenger cars and commercial vehicles.

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