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NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET FORECAST 2022-2030

The North America automotive electric power steering market is estimated to grow with a 3.18% CAGR by 2030, and is expected to be valued at $6810.89 million during the forecasted period, 2022-2030.

NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET FORECAST 2022-2030

North America Automotive Electric Power Steering Market by Vehicle Type (Passenger Cars, Commercial Vehicles (Light Commercial Vehicles, Medium & Heavy Commercial Vehicles) Market by Mechanism (Column Type, Pinion Assist, Rack Assist, Other Mechanisms) Market by Component (Steering Rack/column, Sensor, Steering Motor, Other Components) By Geography

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The North America automotive electric power steering market is estimated to grow with a 3.18% CAGR by 2030, and is expected to be valued at $6810.89 million during the forecasted period, 2022-2030.

Many countries in the region invest heavily in the research and development of innovative technologies. The presence of leading companies also drives the market growth in North America. Further, the growing adoption of electric vehicles and startups in the United States and Canada are boosting the sales of automotive electric-powered steering.

North America Automotive Electric Power Steering Market

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The North America automotive electric power steering market growth assessment entails the evaluation of the United States and Canada. As of 2021, the total value of the car and automobile manufacturing market in the United States is $82.6 billion. The country ranks as the 2nd largest manufacturer of automobile vehicles after China. Also, major automotive companies have manufacturing bases across the country.

Additionally, some leading electric power steering markets have a huge presence in the United States. The country is also home to electric vehicles that are expected to run by electric power steering. Thus, the adoption of EVs will likely rise in the coming years. Overall, a strong automobile manufacturing sector and high investments in automotive technologies are the major drivers of the automotive EPS market growth.

The North America automotive electric power steering market segmentation includes the mechanism, component, and vehicle type. Market by mechanism covers rack assist, pinion assist, column type, and other mechanisms.

The motor for column electric power steering (C-EPS) directly drives the steering shaft and is positioned at the steering column. The inexpensive price and the ease of construction are some of the advantages of column steerings. In addition, the cost of production could be further reduced because the motor is protected from water and severe temperatures by being housed inside the dashboard. Due to increased mechanical friction by the motor’s direct connection to the steering column, column EPS is known for having a numb feeling. Therefore, column EPS is usually reserved for cheap small cars.

On the other hand, rack-assisted EPS can steer full-size trucks to mid-sized vehicles. Steering rack housing is integrated with System electronics and is designed to withstand environmental exposure and high temperatures in the engine compartment. Also, rack-assisted EPS unitized motor controllers are easily fitted to different vehicle platforms, saving space in the engine compartments. They increase performance integrity and reduce assembly costs compared to remote electronic control systems.

Parallel axis EPS is comparatively more expensive than the other types of EPS but is more precise and powerful. These EPS systems are widely used in large, premium, and luxury cars to emphasize dynamics. The electric motor is connected parallel to the steering rack. It transmits power to the steering rack via a step-down gearbox and a toothed belt.

Some major players in the North America automotive electric power steering market include Robert Bosch GmbH, Nexteer Automotive Group, ZF Group, etc.

Nexteer Automotive Group Ltd is an automotive components manufacturer. The company manufactures, supplies, and designs driveline & steering systems and components for the global automotive manufacturing industry. Its product portfolio includes intermediate shafts, steering columns, advanced driver assistance systems, automated driving technologies, hydraulic power steering, and electric power steering. It has a presence across various geographical regions, including China, the United Kingdom, the United States, Singapore, France,  Germany, Japan, Australia, India, Italy, Mexico, Poland, South Korea, and Brazil. Nexteer is headquartered in Michigan, United States.

Nexteer Automotive’s column-assist EPS integrates the assist mechanism into the system electronics, that is, sensor, motor, and controller, with the steering column.

Report Synopsis

Report Scope Details
Market Forecast Years 2022-2030
Base Year 2021
Market Historical Years 2018-2021
Forecast Units Revenue ($ Million)
Segments Analyzed Vehicle Type, Component, Mechanism
Countries Analyzed The United States and Canada
Companies Analyzed

China Automotive Systems Inc, DENSO Corporation, Hitachi Astemo Ltd, Hyundai Mobis, Infineon Technologies, JTEKT Corporation, MAHLE GmbH, Mando Corporation, Mitsubishi Electric Corporation, Nexteer Automotive Group Ltd, Nidec Corporation, NSK Ltd, Robert Bosch GmbH, thyssenkrupp AG, ZF Group

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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • MARKET OVERVIEW
    3. MARKET DYNAMICS
      • KEY DRIVERS
        • INCREASED FUEL EFFICIENCY IN THE ELECTRIC POWER STEERING MECHANISM
        • LOW MAINTENANCE COMPARED TO THE CONVENTIONAL STEERING SYSTEM
      • KEY RESTRAINTS
        • LACK OF STEERING FEEL
    1. KEY ANALYTICS
      • IMPACT OF COVID-19 ON AUTOMOTIVE ELECTRIC POWER STEERING MARKET
      • KEY MARKET TRENDS
      • PORTER’S FIVE FORCES ANALYSIS
        • BUYERS POWER
        • SUPPLIERS POWER
        • SUBSTITUTION
        • NEW ENTRANTS
        • INDUSTRY RIVALRY
      • OPPORTUNITY MATRIX
      • VENDOR LANDSCAPE
    2. MARKET BY VEHICLE TYPE
      • PASSENGER CARS
      • COMMERCIAL VEHICLES
        • LIGHT COMMERCIAL VEHICLES (LCV)
        • MEDIUM & HEAVY COMMERCIAL VEHICLES (M&HCV)
    1. MARKET BY MECHANISM
      • COLUMN TYPE
      • PINION ASSIST
      • RACK ASSIST
      • OTHER MECHANISMS
    2. MARKET BY COMPONENT
      • STEERING RACK/COLUMN
      • SENSOR
      • STEERING MOTOR
      • OTHER COMPONENTS
    3. GEOGRAPHICAL ANALYSIS
      • NORTH AMERICA
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED STATES
          • CANADA
    1. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • MERGERS & ACQUISITIONS
        • PRODUCT LAUNCHES & DEVELOPMENTS
        • PARTNERSHIPS & AGREEMENTS
      • COMPANY PROFILES
        • CHINA AUTOMOTIVE SYSTEMS INC
        • DENSO CORPORATION
        • HITACHI ASTEMO LTD
        • HYUNDAI MOBIS
        • INFINEON TECHNOLOGIES
        • JTEKT CORPORATION
        • MAHLE GMBH
        • MANDO CORPORATION
        • MITSUBISHI ELECTRIC CORPORATION
        • NEXTEER AUTOMOTIVE GROUP LTD
        • NIDEC CORPORATION
        • NSK LTD
        • ROBERT BOSCH GMBH
        • THYSSENKRUPP AG
        • ZF GROUP

    LIST OF TABLES

    TABLE 1: MARKET SNAPSHOT – AUTOMOTIVE ELECTRIC POWER STEERING

    TABLE 2: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 3: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY VEHICLE TYPE, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 4: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMMERCIAL VEHICLES, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 5: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMMERCIAL VEHICLES, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 6: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY MECHANISM, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 7: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY MECHANISM, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 8: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 9: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMPONENT, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 10: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 11: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 12: LEADING PLAYERS OPERATING IN NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET

    TABLE 13: LIST OF MERGERS & ACQUISITIONS

    TABLE 14: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

    TABLE 15: LIST OF PARTNERSHIPS & AGREEMENTS          

    LIST OF FIGURES

    FIGURE 1: KEY MARKET TRENDS

    FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

    FIGURE 3: OPPORTUNITY MATRIX

    FIGURE 4: VENDOR LANDSCAPE

    FIGURE 5: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, GROWTH POTENTIAL, BY VEHICLE TYPE, IN 2021

    FIGURE 6: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PASSENGER CARS, 2022-2030 (IN $ MILLION)

    FIGURE 7: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COMMERCIAL VEHICLES, 2022-2030 (IN $ MILLION)

    FIGURE 8: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, GROWTH POTENTIAL, BY COMMERCIAL VEHICLES, IN 2021

    FIGURE 9: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY LIGHT COMMERCIAL VEHICLES (LCV), 2022-2030 (IN $ MILLION)

    FIGURE 10: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY MEDIUM & HEAVY COMMERCIAL VEHICLES (M&HCV), 2022-2030 (IN $ MILLION)

    FIGURE 11: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, GROWTH POTENTIAL, BY MECHANISM, IN 2021

    FIGURE 12: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY COLUMN TYPE, 2022-2030 (IN $ MILLION)

    FIGURE 13: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY PINION ASSIST, 2022-2030 (IN $ MILLION)

    FIGURE 14: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY RACK ASSIST, 2022-2030 (IN $ MILLION)

    FIGURE 15: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY OTHER MECHANISMS, 2022-2030 (IN $ MILLION)

    FIGURE 16: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, GROWTH POTENTIAL, BY COMPONENT, IN 2021

    FIGURE 17: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY STEERING RACK/COLUMN, 2022-2030 (IN $ MILLION)

    FIGURE 18: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY SENSOR, 2022-2030 (IN $ MILLION)

    FIGURE 19: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY STEERING MOTOR, 2022-2030 (IN $ MILLION)

    FIGURE 20: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, BY OTHER COMPONENTS, 2022-2030 (IN $ MILLION)

    FIGURE 21: NORTH AMERICA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

    FIGURE 22: UNITED STATES AUTOMOTIVE ELECTRIC POWER STEERING MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 23: CANADA AUTOMOTIVE ELECTRIC POWER STEERING MARKET, 2022-2030 (IN $ MILLION)       

    1. GEOGRAPHICAL ANALYSIS
      • NORTH AMERICA
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED STATES
          • CANADA
    1. MARKET BY VEHICLE TYPE
      • PASSENGER CARS
      • COMMERCIAL VEHICLES
        • LIGHT COMMERCIAL VEHICLES (LCV)
        • MEDIUM & HEAVY COMMERCIAL VEHICLES (M&HCV)
    1. MARKET BY MECHANISM
      • COLUMN TYPE
      • PINION ASSIST
      • RACK ASSIST
      • OTHER MECHANISMS
    2. MARKET BY COMPONENT
      • STEERING RACK/COLUMN
      • SENSOR
      • STEERING MOTOR
      • OTHER COMPONENTS

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