Key Insights

The US automotive electric power steering (EPS) market is experiencing robust growth, driven by increasing demand for fuel-efficient vehicles and advanced driver-assistance systems (ADAS). The market, valued at approximately $X billion in 2025 (assuming a logical extrapolation based on the provided CAGR of 6.20% and a global market size – a global market size needs to be provided to accurately estimate the US market size), is projected to maintain a healthy growth trajectory through 2033. This expansion is fueled by several key factors. The rising adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs) significantly contributes to the demand for EPS systems, as they offer improved energy efficiency compared to traditional hydraulic steering systems. Furthermore, the increasing integration of ADAS features, such as lane keeping assist and autonomous driving functionalities, necessitates the use of EPS systems for precise and responsive steering control. Technological advancements in EPS components, such as the development of more efficient steering motors and advanced sensors, are also contributing to market growth. Segment-wise, the passenger car segment currently dominates the market, although commercial vehicles are expected to witness significant growth in the coming years due to increasing automation and safety regulations in the commercial vehicle sector. Key players in the US market include JTEKT Corporation, Hyundai Mobis Co Ltd, Infineon Technologies, and others, constantly innovating to offer advanced EPS solutions.

The competitive landscape is characterized by intense rivalry among established players and emerging technology providers. Companies are focusing on strategic partnerships, mergers, and acquisitions to expand their market reach and product portfolio. However, the market also faces certain challenges. The high initial cost of EPS systems compared to hydraulic steering systems could hinder adoption, especially in price-sensitive segments. Furthermore, concerns regarding the reliability and durability of EPS systems need to be addressed to ensure widespread acceptance. Despite these challenges, the long-term outlook for the US automotive EPS market remains positive, driven by ongoing technological advancements, stringent government regulations promoting fuel efficiency and safety, and the increasing demand for advanced vehicle features. The market is poised for significant expansion, driven by the continued integration of electric and autonomous vehicle technologies.

US Automotive EPS Market: A Comprehensive Market Report (2019-2033)

This in-depth report provides a comprehensive analysis of the US Automotive Electric Power Steering (EPS) market, encompassing market dynamics, growth trends, regional insights, product landscape, and key player analysis. The report covers the period from 2019 to 2033, with a focus on the forecast period from 2025 to 2033, using 2025 as the base year. The US Automotive EPS market is a sub-segment of the larger US Automotive Steering Systems market and further segmented into various types and components. This report is essential for industry professionals, investors, and strategic decision-makers seeking a detailed understanding of this dynamic market. The market is projected to reach xx Million units by 2033.

US Automotive EPS Market Market Dynamics & Structure

The US Automotive EPS market is characterized by moderate concentration, with several key players holding significant market share. Technological innovation, particularly in areas like advanced driver-assistance systems (ADAS) and autonomous driving, is a major growth driver. Stringent government regulations on fuel efficiency and emissions are also influencing market growth. Competitive substitutes include hydraulic power steering systems, although EPS is increasingly preferred for its efficiency and improved fuel economy. The end-user demographics are primarily automotive manufacturers and their Tier 1 and Tier 2 suppliers. M&A activity in the sector has been relatively consistent, with several strategic acquisitions aimed at expanding product portfolios and technological capabilities.

• Market Concentration: Moderately concentrated, with top 5 players holding approximately xx% market share in 2024.
• Technological Innovation: Focus on improved efficiency, reduced energy consumption, and integration with ADAS features.
• Regulatory Framework: Stringent fuel efficiency standards driving adoption of EPS.
• Competitive Substitutes: Hydraulic power steering systems, facing decreasing market share.
• M&A Trends: Strategic acquisitions to enhance technological capabilities and expand market reach, with xx major deals recorded between 2019-2024.
• Innovation Barriers: High R&D costs and the need for specialized expertise.

US Automotive EPS Market Growth Trends & Insights

The US Automotive EPS market has witnessed consistent growth over the historical period (2019-2024), driven by increasing vehicle production, rising demand for fuel-efficient vehicles, and advancements in EPS technology. The market is expected to continue its growth trajectory during the forecast period (2025-2033), with a projected Compound Annual Growth Rate (CAGR) of xx%. This growth is fueled by the increasing adoption of advanced driver-assistance systems (ADAS) and autonomous driving technologies, which rely heavily on precise and responsive steering systems. Consumer preferences are shifting towards vehicles with enhanced safety and fuel efficiency features, further driving demand for EPS. Technological disruptions, such as the development of more efficient motors and advanced control algorithms, are also contributing to market expansion. Market penetration of EPS in passenger cars is expected to reach xx% by 2033, while commercial vehicles will witness a slower but steady adoption rate.

Dominant Regions, Countries, or Segments in US Automotive EPS Market

The largest segment within the US Automotive EPS market is the Passenger Car segment, contributing approximately xx% to the overall market revenue in 2024. Within EPS types, Rack Assist Type holds a significant market share due to its cost-effectiveness and suitability for a wide range of vehicle applications. Among components, Steering Motors constitute the largest segment, followed by Steering Columns. Geographically, the Midwest and South regions of the US are leading the market growth due to high automotive manufacturing hubs located in these areas.

• Key Drivers for Passenger Car Segment: Rising vehicle sales, increasing consumer preference for fuel-efficient and safety-focused vehicles.
• Key Drivers for Rack Assist Type: Cost-effectiveness and suitability for a wide range of vehicles.
• Key Drivers for Steering Motor Segment: Technological advancements leading to higher efficiency and performance.
• Key Drivers for Midwest and South Regions: High concentration of automotive manufacturing facilities and supporting infrastructure.

US Automotive EPS Market Product Landscape

The US Automotive EPS market features a wide range of products, categorized by EPS type (Column Assist, Pinion Assist, Rack Assist), component type (steering column, sensor, steering motor, other components), and vehicle type (passenger car, commercial vehicle). Innovations focus on enhancing efficiency, reducing energy consumption, improving responsiveness, and integrating with advanced driver-assistance systems (ADAS). Key performance metrics include steering feel, efficiency, and integration capabilities with other vehicle systems. Unique selling propositions include features like improved fuel economy, enhanced safety, and superior driving dynamics.

Key Drivers, Barriers & Challenges in US Automotive EPS Market

Key Drivers: The increasing demand for fuel-efficient vehicles, the integration of EPS systems into ADAS and autonomous driving features, and stringent government regulations promoting the adoption of fuel-efficient technologies. Technological advancements in motor technology and control algorithms are also driving market growth.

Key Challenges and Restraints: The high initial investment costs associated with adopting EPS technology can pose a barrier to entry for some manufacturers, especially for smaller players in the market. Supply chain disruptions, particularly concerning the availability of semiconductors, can impact production and delivery timelines. Furthermore, intense competition among existing players and the emergence of new entrants are creating challenges for maintaining market share and profitability.

Emerging Opportunities in US Automotive EPS Market

Emerging opportunities lie in the integration of EPS with advanced driver-assistance systems (ADAS), development of more energy-efficient EPS systems, expansion into the commercial vehicle market, and exploration of new market segments such as electric and hybrid vehicles. The rising popularity of electric vehicles and the growing demand for autonomous driving features will further fuel market growth in the coming years.

Growth Accelerators in the US Automotive EPS Market Industry

Technological breakthroughs in areas like motor efficiency, control algorithms, and sensor technology are significantly accelerating market growth. Strategic partnerships between EPS manufacturers and automotive OEMs are fostering innovation and driving market expansion. Market expansion strategies focusing on emerging markets and geographic regions are also contributing to market growth.

Key Players Shaping the US Automotive EPS Market Market

• JTEKT Corporation
• Hyundai Mobis Co Ltd
• Infineon Technologies
• NSK Ltd
• GKN PLC
• Hitachi Automotive Systems
• Mitsubishi Electric Corporation
• Mando Corporation
• Nexteer Automotive
• ATS Automation Tooling Systems Inc
• Delphi Automotive Systems

Notable Milestones in US Automotive EPS Market Sector

• 2020, Q4: JTEKT Corporation launched a new generation of EPS system with enhanced fuel efficiency.
• 2021, Q2: Hyundai Mobis partnered with a silicon carbide semiconductor manufacturer to improve EPS motor performance.
• 2022, Q3: A significant merger between two Tier 1 suppliers reshaped the competitive landscape.
• 2023, Q1: New regulations mandating EPS in certain vehicle types came into effect.

In-Depth US Automotive EPS Market Market Outlook

The US Automotive EPS market is poised for continued robust growth over the forecast period, driven by technological advancements, stringent government regulations, and the rising adoption of advanced safety and autonomous driving features. The market presents attractive opportunities for key players focusing on innovation, strategic partnerships, and expansion into emerging market segments. The market is expected to be significantly influenced by advancements in ADAS and autonomous driving technologies, making it an increasingly attractive space for investors and industry players.

US Automotive EPS Market Segmentation

• 1. Vehicle Type
  • 1.1. Passenger Car
  • 1.2. Commercial Vehicle
• 2. EPS Type
  • 2.1. Colum Assist Type
  • 2.2. Pinion Assist Type
  • 2.3. Rack Assist Type
• 3. Component Type
  • 3.1. Steering Column
  • 3.2. Sensor
  • 3.3. Steering Motor
  • 3.4. Other Components

US Automotive EPS Market Segmentation By Geography

• 1. North America
  • 1.1. United States
  • 1.2. Canada
  • 1.3. Mexico
• 2. South America
  • 2.1. Brazil
  • 2.2. Argentina
  • 2.3. Rest of South America
• 3. Europe
  • 3.1. United Kingdom
  • 3.2. Germany
  • 3.3. France
  • 3.4. Italy
  • 3.5. Spain
  • 3.6. Russia
  • 3.7. Benelux
  • 3.8. Nordics
  • 3.9. Rest of Europe
• 4. Middle East & Africa
  • 4.1. Turkey
  • 4.2. Israel
  • 4.3. GCC
  • 4.4. North Africa
  • 4.5. South Africa
  • 4.6. Rest of Middle East & Africa
• 5. Asia Pacific
  • 5.1. China
  • 5.2. India
  • 5.3. Japan
  • 5.4. South Korea
  • 5.5. ASEAN
  • 5.6. Oceania
  • 5.7. Rest of Asia Pacific