Last Updated: 23-07-2025 | Format: PDF | Report ID:1161 | Author: Sophia
| Key Market Question | Answer |
|---|---|
| What is the market size in 2025? | Revenue (USD Million) |
| What is the projected market size by 2035? | $12,300 Million |
| What is the market CAGR from 2025 to 2035? | 5.1% |
| Which region dominates the market? | Midwest (34%) |
| Which product/service type dominates the market? | Electric Power Steering (EPS) (47%) |
| Which application leads the market? | Passenger Cars (53%) |
| Who are the major buyers? | OEMs (62%), Aftermarket (26%) |
| What are the key market growth drivers? | Growing adoption of electric power steering (EPS) systems due to improved fuel efficiency and ease of integration with ADAS; Rising production and sales of electric vehicles (EVs) in the US |
| What are the major market challenges? |
Study period:
2020-2035
Base year:
2026
Historical data
2020-2024
NO OF PAGE:
167
What You Get:
| High initial costs and complexity associated with advanced steering systems; Ensuring system reliability and safety in new electro-mechanical and steer-by-wire technologies |
| What is the forecast period? | 2026–2035 |
| Who are the key market players? | JTEKT CorporationNexteer AutomotiveZF Friedrichshafen AGNSK Ltd.Robert Bosch GmbHThyssenkrupp AGHyundai MobisShowa CorporationMando CorporationSona BLW Precision Forgings Ltd.Hitachi Automotive SystemsATS Automation Tooling Systems Inc.China Automotive Systems Inc.Knorr-Bremse AGMagal Engineering Limited |
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