Key Insights
The China Automotive Electric Power Steering (EPS) market is experiencing robust growth, projected to reach \$15.58 billion in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 14.98% from 2025 to 2033. This expansion is driven by several key factors. The increasing adoption of Advanced Driver-Assistance Systems (ADAS) and autonomous driving features in vehicles necessitates precise and responsive steering systems, bolstering the demand for EPS. Stringent government regulations promoting fuel efficiency and reduced emissions further incentivize the shift towards EPS, which improves fuel economy compared to hydraulic systems. Moreover, rising disposable incomes and a surge in vehicle sales within China are fueling the market's growth trajectory. The market segmentation reveals a strong preference for passenger car applications, with the Column Type EPS dominating the type segment. Major players like JTEKT Corporation, Denso Corporation, and ZF Friedrichshafen AG are strategically positioned to capitalize on this growth, investing in R&D to enhance technological advancements in EPS technology. Competition is fierce, driving innovation and price optimization within the market.
The market's growth is expected to be influenced by several factors throughout the forecast period. Technological advancements, such as the integration of electric power steering with other vehicle systems, will enhance functionality and open up new market opportunities. However, challenges remain, including potential supply chain disruptions, the need for advanced manufacturing capabilities, and the ongoing development of robust and reliable systems. The government's continued focus on emission standards and promoting electric vehicles (EVs) will be pivotal in sustaining the market's upward momentum. Regional analysis indicates China as a dominant force in the EPS market due to its large automotive manufacturing base and strong governmental support for the automotive sector. The market is segmented by type (Column, Pinion, Dual Pinion, Other), component (Steering Column, Sensor, Steering Motor, Other), and vehicle type (Passenger Cars, Commercial Vehicles), allowing for a targeted approach by market players.
China Automotive Electric Power Steering (EPS) Market Report: 2019-2033
This comprehensive report provides an in-depth analysis of the burgeoning China Automotive Electric Power Steering (EPS) market, offering invaluable insights for industry professionals, investors, and strategic decision-makers. Covering the period from 2019 to 2033, with a focus on 2025, this report dissects market dynamics, identifies key players, and forecasts future growth potential.
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China Automotive Electric Power Steering (EPS) Market Structure & Innovation Trends
The China Automotive Electric Power Steering (EPS) market exhibits a moderately concentrated structure, with key players such as JTEKT Corporation, Denso Corporation, and ZF Friedrichshafen AG holding significant market share. The market is driven by stringent emission regulations, increasing demand for advanced driver-assistance systems (ADAS), and a growing preference for fuel-efficient vehicles. Innovation is primarily focused on enhancing energy efficiency, improving steering feel, and integrating advanced functionalities like lane-keeping assist and automated parking. Regulatory frameworks, while supportive of electric vehicle adoption, also present challenges in terms of compliance and standardization. Product substitutes, such as hydraulic power steering systems, are gradually losing ground due to their lower efficiency. The end-user demographic primarily comprises automotive manufacturers and Tier-1 suppliers, with a significant focus on passenger car segments. M&A activity has been moderate, with deals primarily focused on expanding production capacity and acquiring technological expertise. Estimated M&A deal value in the last five years is approximately xx Million. Market share for the top three players is estimated at 45% collectively in 2025.
- Market Concentration: Moderately concentrated
- Key Innovation Drivers: Emission regulations, ADAS, fuel efficiency
- Regulatory Framework: Supportive but presents compliance challenges
- M&A Activity: Moderate, focused on capacity expansion and technology acquisition
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China Automotive Electric Power Steering (EPS) Market Dynamics & Trends
The China Automotive Electric Power Steering (EPS) market is experiencing robust growth, driven by the rapid expansion of the electric vehicle (EV) sector and increasing government support for the automotive industry. Technological disruptions, particularly in areas like sensor technology and motor control, are leading to improved EPS performance and functionality. Consumer preferences are shifting towards vehicles with enhanced safety and comfort features, boosting demand for advanced EPS systems. Competitive dynamics are characterized by intense rivalry among both domestic and international players, leading to continuous product innovation and price competition. The market is expected to exhibit a CAGR of xx% during the forecast period (2025-2033), with market penetration reaching xx% by 2033.
Dominant Regions & Segments in China Automotive Electric Power Steering (EPS) Market
The coastal regions of China, particularly those with established automotive manufacturing hubs, dominate the EPS market. Within the segmentation:
By Type: The Column Type EPS segment currently holds the largest market share due to its widespread adoption in various vehicle types. However, the Pinion Type and Dual Pinion Type segments are expected to witness significant growth driven by their superior performance capabilities.
By Component Type: The Steering Motor segment commands the highest market share, reflecting the crucial role of the motor in EPS functionality. The Sensor segment is also growing rapidly due to increasing demand for advanced safety features.
By Vehicle Type: Passenger cars constitute the largest segment, driven by high demand for new vehicles and strong consumer preference for advanced features. The commercial vehicle segment is also experiencing growth, albeit at a slower pace, as fleet operators seek to improve fuel efficiency and reduce operating costs.
Key drivers for these dominant segments include supportive government policies promoting electric vehicle adoption, extensive automotive infrastructure, and a rapidly expanding middle class with rising disposable income.
China Automotive Electric Power Steering (EPS) Market Product Innovations
Recent product developments in the China Automotive Electric Power Steering (EPS) market are focused on improving efficiency, reducing weight, and enhancing integration with ADAS features. New EPS systems are incorporating advanced sensors and control algorithms for improved steering responsiveness and precision. The market is witnessing a shift towards more compact and integrated EPS designs to optimize space utilization in modern vehicles. These innovations cater to the growing demand for fuel-efficient, technologically advanced, and feature-rich vehicles.
Report Scope & Segmentation Analysis
This report covers the China Automotive Electric Power Steering (EPS) market from 2019 to 2033, segmented by type (Column Type, Pinion Type, Dual Pinion Type, Other Types), component type (Steering Column, Sensor, Steering Motor, Other Component Types), and vehicle type (Passenger Cars, Commercial Vehicle). Each segment's growth projections, market sizes, and competitive dynamics are thoroughly analyzed. The Column Type segment is currently dominant, but the Pinion Type is experiencing faster growth. The Steering Motor is the largest component segment, while passenger cars represent the major vehicle type segment.
Key Drivers of China Automotive Electric Power Steering (EPS) Market Growth
The growth of the China Automotive Electric Power Steering (EPS) market is fueled by several key factors: the rapid expansion of the electric vehicle market, stringent government regulations promoting fuel efficiency and emission reduction, the increasing adoption of advanced driver-assistance systems (ADAS), and the rising demand for enhanced vehicle safety and comfort features. These factors collectively contribute to a robust and sustained market expansion.
Challenges in the China Automotive Electric Power Steering (EPS) Market Sector
The China Automotive Electric Power Steering (EPS) market faces challenges including intense competition from both domestic and international players, supply chain disruptions, and the need to comply with evolving safety and emission standards. These factors can impact production costs, timelines, and profitability. Additionally, fluctuating raw material prices and potential trade restrictions pose further challenges.
Emerging Opportunities in China Automotive Electric Power Steering (EPS) Market
Emerging opportunities exist in the development of more sophisticated EPS systems with integrated ADAS functionalities, the expansion into niche markets such as commercial vehicles and off-road vehicles, and the exploration of new technologies like steer-by-wire systems. These trends offer significant growth potential for innovative companies.
Leading Players in the China Automotive Electric Power Steering (EPS) Market Market
- JTEKT Corporation
- Denso Corporation
- Hyundai Mobis
- ZF Friedrichshafen AG
- NSK Ltd
- GKN PLC
- Mitsubishi Electric Corporation
- ATS Automation
- Hitachi Automotive Systems Ltd
- Nexteer Automotives
- Robert Bosch GmbH
- Thyssenkrupp Presta AG
Key Developments in China Automotive Electric Power Steering (EPS) Market Industry
- June 2023: Nidec Corporation announced the successful development of a new electric power steering motor power pack ('EPS-PP'). This signifies advancements in EPS technology and potential for improved market offerings.
- August 2022: ZF Friedrichshafen announced a CNY320 million (USD 47 million) investment to expand power steering system capacity in Shanghai, indicating confidence in the growing local demand and market potential.
Future Outlook for China Automotive Electric Power Steering (EPS) Market Market
The future of the China Automotive Electric Power Steering (EPS) market appears bright, driven by continued growth in the electric vehicle sector, the increasing demand for advanced safety and driver-assistance features, and ongoing technological advancements in EPS systems. Strategic partnerships and investments in R&D are expected to further fuel market growth and innovation, creating significant opportunities for market players.
China Automotive Electric Power Steering (EPS) Market Segmentation
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1. Type
- 1.1. Column Type
- 1.2. Pinion Type
- 1.3. Dual Pinion Type
- 1.4. Other Types
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2. Component Type
- 2.1. Steering Column
- 2.2. Sensor
- 2.3. Steering Motor
- 2.4. Other Component Types
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3. Vehicle Type
- 3.1. Passenger Cars
- 3.2. Commercial Vehicle
China Automotive Electric Power Steering (EPS) Market Segmentation By Geography
- 1. China
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China Automotive Electric Power Steering (EPS) Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2019-2033 |
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2025-2033 |
| Historical Period | 2019-2024 |
| Growth Rate | CAGR of 14.98% from 2019-2033 |
| Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Adoption of electric vehicles; Advancements in EPS technology
- 3.3. Market Restrains
- 3.3.1. Limited Retrofitting Options
- 3.4. Market Trends
- 3.4.1. Technological Advancement in Components of Electric Power Steering - Driving the Market
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. China Automotive Electric Power Steering (EPS) Market Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Type
- 5.1.1. Column Type
- 5.1.2. Pinion Type
- 5.1.3. Dual Pinion Type
- 5.1.4. Other Types
- 5.2. Market Analysis, Insights and Forecast - by Component Type
- 5.2.1. Steering Column
- 5.2.2. Sensor
- 5.2.3. Steering Motor
- 5.2.4. Other Component Types
- 5.3. Market Analysis, Insights and Forecast - by Vehicle Type
- 5.3.1. Passenger Cars
- 5.3.2. Commercial Vehicle
- 5.4. Market Analysis, Insights and Forecast - by Region
- 5.4.1. China
- 5.1. Market Analysis, Insights and Forecast - by Type
- 6. Competitive Analysis
- 6.1. Market Share Analysis 2024
- 6.2. Company Profiles
- 6.2.1 JTEKT Corporation
- 6.2.1.1. Overview
- 6.2.1.2. Products
- 6.2.1.3. SWOT Analysis
- 6.2.1.4. Recent Developments
- 6.2.1.5. Financials (Based on Availability)
- 6.2.2 Denso Corporation
- 6.2.2.1. Overview
- 6.2.2.2. Products
- 6.2.2.3. SWOT Analysis
- 6.2.2.4. Recent Developments
- 6.2.2.5. Financials (Based on Availability)
- 6.2.3 Hyundai Mobis
- 6.2.3.1. Overview
- 6.2.3.2. Products
- 6.2.3.3. SWOT Analysis
- 6.2.3.4. Recent Developments
- 6.2.3.5. Financials (Based on Availability)
- 6.2.4 ZF Friedrichshafen A
- 6.2.4.1. Overview
- 6.2.4.2. Products
- 6.2.4.3. SWOT Analysis
- 6.2.4.4. Recent Developments
- 6.2.4.5. Financials (Based on Availability)
- 6.2.5 NSK Ltd
- 6.2.5.1. Overview
- 6.2.5.2. Products
- 6.2.5.3. SWOT Analysis
- 6.2.5.4. Recent Developments
- 6.2.5.5. Financials (Based on Availability)
- 6.2.6 GKN PLC
- 6.2.6.1. Overview
- 6.2.6.2. Products
- 6.2.6.3. SWOT Analysis
- 6.2.6.4. Recent Developments
- 6.2.6.5. Financials (Based on Availability)
- 6.2.7 Mitsubishi Electric Corporation
- 6.2.7.1. Overview
- 6.2.7.2. Products
- 6.2.7.3. SWOT Analysis
- 6.2.7.4. Recent Developments
- 6.2.7.5. Financials (Based on Availability)
- 6.2.8 ATS Automation
- 6.2.8.1. Overview
- 6.2.8.2. Products
- 6.2.8.3. SWOT Analysis
- 6.2.8.4. Recent Developments
- 6.2.8.5. Financials (Based on Availability)
- 6.2.9 Hitachi Automotive Systems Ltd
- 6.2.9.1. Overview
- 6.2.9.2. Products
- 6.2.9.3. SWOT Analysis
- 6.2.9.4. Recent Developments
- 6.2.9.5. Financials (Based on Availability)
- 6.2.10 Nexteer Automotives
- 6.2.10.1. Overview
- 6.2.10.2. Products
- 6.2.10.3. SWOT Analysis
- 6.2.10.4. Recent Developments
- 6.2.10.5. Financials (Based on Availability)
- 6.2.11 Robert Bosch GmbH
- 6.2.11.1. Overview
- 6.2.11.2. Products
- 6.2.11.3. SWOT Analysis
- 6.2.11.4. Recent Developments
- 6.2.11.5. Financials (Based on Availability)
- 6.2.12 Thyssenkrupp Presta AG
- 6.2.12.1. Overview
- 6.2.12.2. Products
- 6.2.12.3. SWOT Analysis
- 6.2.12.4. Recent Developments
- 6.2.12.5. Financials (Based on Availability)
- 6.2.1 JTEKT Corporation
List of Figures
- Figure 1: China Automotive Electric Power Steering (EPS) Market Revenue Breakdown (Million, %) by Product 2024 & 2032
- Figure 2: China Automotive Electric Power Steering (EPS) Market Share (%) by Company 2024
List of Tables
- Table 1: China Automotive Electric Power Steering (EPS) Market Revenue Million Forecast, by Region 2019 & 2032
- Table 2: China Automotive Electric Power Steering (EPS) Market Revenue Million Forecast, by Type 2019 & 2032
- Table 3: China Automotive Electric Power Steering (EPS) Market Revenue Million Forecast, by Component Type 2019 & 2032
- Table 4: China Automotive Electric Power Steering (EPS) Market Revenue Million Forecast, by Vehicle Type 2019 & 2032
- Table 5: China Automotive Electric Power Steering (EPS) Market Revenue Million Forecast, by Region 2019 & 2032
- Table 6: China Automotive Electric Power Steering (EPS) Market Revenue Million Forecast, by Country 2019 & 2032
- Table 7: China Automotive Electric Power Steering (EPS) Market Revenue Million Forecast, by Type 2019 & 2032
- Table 8: China Automotive Electric Power Steering (EPS) Market Revenue Million Forecast, by Component Type 2019 & 2032
- Table 9: China Automotive Electric Power Steering (EPS) Market Revenue Million Forecast, by Vehicle Type 2019 & 2032
- Table 10: China Automotive Electric Power Steering (EPS) Market Revenue Million Forecast, by Country 2019 & 2032
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the China Automotive Electric Power Steering (EPS) Market?
The projected CAGR is approximately 14.98%.
2. Which companies are prominent players in the China Automotive Electric Power Steering (EPS) Market?
Key companies in the market include JTEKT Corporation, Denso Corporation, Hyundai Mobis, ZF Friedrichshafen A, NSK Ltd, GKN PLC, Mitsubishi Electric Corporation, ATS Automation, Hitachi Automotive Systems Ltd, Nexteer Automotives, Robert Bosch GmbH, Thyssenkrupp Presta AG.
3. What are the main segments of the China Automotive Electric Power Steering (EPS) Market?
The market segments include Type, Component Type, Vehicle Type.
4. Can you provide details about the market size?
The market size is estimated to be USD 15.58 Million as of 2022.
5. What are some drivers contributing to market growth?
Adoption of electric vehicles; Advancements in EPS technology.
6. What are the notable trends driving market growth?
Technological Advancement in Components of Electric Power Steering - Driving the Market.
7. Are there any restraints impacting market growth?
Limited Retrofitting Options.
8. Can you provide examples of recent developments in the market?
June 2023: Nidec Corporation announced it had successfully developed a new electric power steering motor power pack*1 ('EPS-PP').
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 3800, USD 4500, and USD 5800 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in Million.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "China Automotive Electric Power Steering (EPS) Market," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the China Automotive Electric Power Steering (EPS) Market report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the China Automotive Electric Power Steering (EPS) Market?
To stay informed about further developments, trends, and reports in the China Automotive Electric Power Steering (EPS) Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database
Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
