The global electric power steering motor market is forecast to rise from $8,450 million in 2020 to $20,900 million by 2035, reflecting consistent demand from OEMs and aftermarket channels. This growth is propelled by electrification trends, ADAS integration, and the premium segment’s escalating EPS adoption. Asia-Pacific leads revenue expansion, followed by steady gains in North America and Europe, shaping a dynamic and competitive market landscape.
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In 2025, passenger cars represent the largest share of electric power steering motor deployment due to the segment’s vast production volumes and growing consumer preference for fuel efficiency and driving comfort. Light commercial vehicles make up a substantial portion, while heavy commercial vehicles and specialized vehicles, including electric and agricultural models, are witnessing accelerated adoption as OEMs expand their EPS applications portfolio.
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Who are the key players in Global Electric Power Steering Motor Market industry?
The top 5 players in the Global Electric Power Steering Motor Market include Robert Bosch GmbH, NSK Ltd., Nidec Corporation, Denso Corporation, and Mitsubishi Electric Corporation. These companies dominate the market owing to their advanced technology, global supply chain networks, and strategic partnerships with leading automotive manufacturers worldwide.
What is the Global Electric Power Steering Motor Market growth?
The Global Electric Power Steering Motor Market has exhibited robust growth, driven by rising demand for electric vehicles and fuel-efficient automotive solutions. For instance, Nidec Corporation reported increased orders in 2023 due to its innovative EPS motor solutions, significantly boosting its market presence and overall market expansion.
Which segment accounted for the largest Global Electric Power Steering Motor Market share?
Passenger vehicles segment accounted for the largest market share in the Global Electric Power Steering Motor Market. This dominance is attributed to the increasing adoption of electric power steering motors in passenger cars for enhanced safety and driving comfort, especially in Europe and Asia-Pacific regions.
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