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North America Electric Power Steering Market Report and Forecast 2025-2034
Market Report I 2025-06-05 I 120 Pages I EMR Inc.
The North America electric power steering market value reached USD 6.26 Billion in 2024. The market is expected to grow at a CAGR of 4.10% between 2025 and 2034, reaching almost USD 9.36 Billion by 2034.
North America Electric Power Steering Market Growth
Electric power steering (EPS) is an advanced steering system in vehicles that replaces older hydraulic systems with an electric motor for steering assistance. Its primary goal is to enhance driver control by adjusting steering assistance based on driving conditions and speeds, offering smoother and more responsive handling. Unlike hydraulic systems, EPS functions without a hydraulic pump, which enhances fuel efficiency and drives the growth of the North America electric power steering market.
North America Electric Power Steering Market Analysis
Electric power steering (EPS) systems provide significant fuel efficiency gains by eliminating belt-driven hydraulic or manual pumps that run continuously, regardless of the need for steering assistance. EPS can save up to 0.4 litres of fuel per 100 kilometres travelled and reduce CO2 emissions by up to 7 grams per kilometre.
The North America electric power steering market dynamics and trends are being driven by its benefits in enhancing fuel efficiency, reducing weight, and improving steering feel. EPS also provides greater reliability, design flexibility, and speed-dependent assistance. Additionally, it reduces environmental impact, noise, and maintenance costs, while incorporating advanced safety features for an improved driving experience.
North America Electric Power Steering Industry Outlook
The American Automakers AAPC projects a steady rise in U.S. auto production from 2018 to 2028, reaching 12.2 million vehicles by 2028. Starting from 11.3 million vehicles in 2018, production saw a 52% increase since the recession. However, production was noted at 10.8 million in 2021 and further to 11.7 million in 2022. In 2023, production reached 12.1 million vehicles and is anticipated to rise to 12.3 million by 2025. It is anticipated that the number of vehicles will stabilise at 12.2 million by 2028. This increase is expected to boost the North America electric power steering market revenue, as EPS is a steering system designed to help drivers turn the wheel with less effort than conventional hydraulic systems.
According to the Alliance for Automotive Innovation, U.S. car sales, which were around 400,000 units in April 2019, experienced a decline to below 200,000 units in April 2020. Sales rebounded slightly to approximately 200,000 units by April 2021 and have maintained this level through April 2023. In terms of U.S. light truck sales, the figures reached around 1,000,000 units in April 2019, dipped to approximately 600,000 units in April 2020, and surged to nearly 1,200,000 units in April 2021. This stability is contributing to the growth of the North America electric power steering industry revenue, driven by rising automobile sales. The electric power steering systems offer electronically adjustable steering assistance, providing customisable driving experiences.
Continuous innovation in electric power steering (EPS) technology enhances vehicle safety, fuel efficiency, and driving comfort is driving the North America electric power steering industry revenue.
- Growing consumer preference for advanced automotive features, including improved handling and manoeuvrability, supports the adoption of EPS systems in North America.
- Supportive regulations promoting fuel efficiency and safety standards encourage the implementation of EPS technology in vehicles.
The cost of integrating EPS systems into vehicles can be high, potentially impacting overall vehicle pricing and consumer affordability.
- EPS systems are technologically complex, requiring significant R&D and precision manufacturing, which can lead to higher production costs.
- The market is becoming increasingly competitive with numerous players, which can lead to price pressure and reduced profit margins.
Increased vehicle production in North America creates a larger market for EPS systems, driving demand for innovative steering solutions.
- The rise of autonomous driving technology presents opportunities for integrating advanced EPS systems to enhance vehicle control and safety.
- The growth of electric vehicles (EVs) in North America provides an opportunity to expand EPS adoption, as EVs typically benefit from the efficiency of electric steering systems.
Economic downturns can affect consumer spending on new vehicles, impacting the North America electric power steering market demand.
- Rapid advancements in alternative steering technologies may challenge the dominance of current EPS solutions.
- Disruptions in the supply chain for critical components can impact the production and availability of EPS systems.
Key Players in the North America Electric Power Steering Market and Their Key Initiatives
Mitsubishi Electric Corporation
- Enhanced production capabilities for EPS systems to capture the North America electric power steering market opportunities.
- Developed next-generation EPS systems incorporating AI for improved vehicle safety.
Robert Bosch GmbH
- Launched ServoE, a fully electric steering system for automated driving.
- Introduced over-the-air updates for EPS systems.
Denso Corporation
- Partnered with Aeva to integrate LiDAR into electric power steering systems.
- Invested in advanced EPS technology to support autonomous driving to meet the growing demand of the North America electric power steering market.
JTEKT Corporation
- Began mass production of MCU with JFOPS4 for enhanced electric power steering systems.
- Signed a virtual Power Purchase Agreement with Greenalia for 142.8MW of renewable energy.
North America Electric Power Steering Industry Segmentation
"North America Electric Power Steering Market Report and Forecast 2025-2034" 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
Market Breakup by Region
- United States of America
- Canada
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.
Leading Companies in the North America Electric Power Steering Market
The companies offer electronics and electrical equipment, delivering innovative solutions across multiple sectors such as automotive, industrial automation, and energy.
- 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
- Others
North America Electric Power Steering MarketReport Snapshots
North America Electric Power SteeringMarket Size
North America Electric Power Steering Market Growth
North America Electric Power SteeringMarket Analysis
North America Electric Power SteeringMarket Share
North America Electric Power SteeringCompanies
1 Executive Summary
1.1 Market Size 2024-2025
1.2 Market Growth 2025(F)-2034(F)
1.3 Key Demand Drivers
1.4 Key Players and Competitive Structure
1.5 Industry Best Practices
1.6 Recent Trends and Developments
1.7 Industry Outlook
2 Market Overview and Stakeholder Insights
2.1 Market Trends
2.2 Key Verticals
2.3 Key Countries
2.4 Supplier Power
2.5 Buyer Power
2.6 Key Market Opportunities and Risks
2.7 Key Initiatives by Stakeholders
3 Economic Summary
3.1 GDP Outlook
3.2 GDP Per Capita Growth
3.3 Inflation Trends
3.4 Democracy Index
3.5 Gross Public Debt Ratios
3.6 Balance of Payment (BoP) Position
3.7 Population Outlook
3.8 Urbanisation Trends
4 Country Risk Profiles
4.1 Country Risk
4.2 Business Climate
5 Global Electric Power Steering Market Overview
5.1 Key Industry Highlights
5.2 Global Electric Power Steering Historical Market (2018-2024)
5.3 Global Electric Power Steering Market Forecast (2025-2034)
5.4 Global Electric Power Steering Market Share by Region
5.4.1 North America
5.4.2 Europe
5.4.3 Asia Pacific
5.4.4 Latin America
5.4.5 Middle East and Africa
6 North America Electric Power Steering Market Overview
6.1 Key Industry Highlights
6.2 North America Electric Power Steering Historical Market (2018-2024)
6.3 North America Electric Power Steering Market Forecast (2025-2034)
7 North America Electric Power Steering Market by Product Type
7.1 Rack Assist Type (REPS)
7.1.1 Historical Trend (2018-2024)
7.1.2 Forecast Trend (2025-2034)
7.2 Column Assist Type (CEPS)
7.2.1 Historical Trend (2018-2024)
7.2.2 Forecast Trend (2025-2034)
7.3 Pinion Assist Type (PEPS)
7.3.1 Historical Trend (2018-2024)
7.3.2 Forecast Trend (2025-2034)
8 North America Electric Power Steering Market by Component
8.1 Steering Rack/Column
8.1.1 Historical Trend (2018-2024)
8.1.2 Forecast Trend (2025-2034)
8.2 Sensors
8.2.1 Historical Trend (2018-2024)
8.2.2 Forecast Trend (2025-2034)
8.3 Electric Motor
8.3.1 Historical Trend (2018-2024)
8.3.2 Forecast Trend (2025-2034)
8.4 Others
9 North America Electric Power Steering Market by Vehicle Type
9.1 Passenger Car
9.1.1 Historical Trend (2018-2024)
9.1.2 Forecast Trend (2025-2034)
9.2 Commercial Vehicle
9.2.1 Historical Trend (2018-2024)
9.2.2 Forecast Trend (2025-2034)
10 North America Electric Power Steering Market by Sales Channel
10.1 Original Equipment Manufacturer (OEM)
10.1.1 Historical Trend (2018-2024)
10.1.2 Forecast Trend (2025-2034)
10.2 Aftermarket
10.2.1 Historical Trend (2018-2024)
10.2.2 Forecast Trend (2025-2034)
11 North America Electric Power Steering Market by Country
11.1 United States of America
11.1.1 Historical Trend (2018-2024)
11.1.2 Forecast Trend (2025-2034)
11.2 Canada
11.2.1 Historical Trend (2018-2024)
11.2.2 Forecast Trend (2025-2034)
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter's Five Forces Analysis
12.2.1 Supplier's Power
12.2.2 Buyer's Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators of Demand
12.4 Key Indicators of Price
13 Competitive Landscape
13.1 Supplier Selection
13.2 Key Global Players
13.3 Key Regional Players
13.4 Key Player Strategies
13.5 Company Profiles
13.5.1 Mitsubishi Electric Corporation
13.5.1.1 Company Overview
13.5.1.2 Product Portfolio
13.5.1.3 Demographic Reach and Achievements
13.5.1.4 Certifications
13.5.2 Robert Bosch GmbH
13.5.2.1 Company Overview
13.5.2.2 Product Portfolio
13.5.2.3 Demographic Reach and Achievements
13.5.2.4 Certifications
13.5.3 Denso Corporation
13.5.3.1 Company Overview
13.5.3.2 Product Portfolio
13.5.3.3 Demographic Reach and Achievements
13.5.3.4 Certifications
13.5.4 JTEKT Corporation
13.5.4.1 Company Overview
13.5.4.2 Product Portfolio
13.5.4.3 Demographic Reach and Achievements
13.5.4.4 Certifications
13.5.5 NSK Ltd.
13.5.5.1 Company Overview
13.5.5.2 Product Portfolio
13.5.5.3 Demographic Reach and Achievements
13.5.5.4 Certifications
13.5.6 thyssenkrupp AG
13.5.6.1 Company Overview
13.5.6.2 Product Portfolio
13.5.6.3 Demographic Reach and Achievements
13.5.6.4 Certifications
13.5.7 ZF Friedrichshafen AG
13.5.7.1 Company Overview
13.5.7.2 Product Portfolio
13.5.7.3 Demographic Reach and Achievements
13.5.7.4 Certifications
13.5.8 Knorr-Bremse AG
13.5.8.1 Company Overview
13.5.8.2 Product Portfolio
13.5.8.3 Demographic Reach and Achievements
13.5.8.4 Certifications
13.5.9 Dowlais Group Plc (GKN Automotive Ltd.)
13.5.9.1 Company Overview
13.5.9.2 Product Portfolio
13.5.9.3 Demographic Reach and Achievements
13.5.9.4 Certifications
13.5.10 Nexteer Automotive Corporation
13.5.10.1 Company Overview
13.5.10.2 Product Portfolio
13.5.10.3 Demographic Reach and Achievements
13.5.10.4 Certifications
13.5.11 Others
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