Key Insights
The European electric power steering (EPS) market is experiencing robust growth, driven by the increasing demand for fuel-efficient vehicles and the stringent emission regulations across the region. The market, valued at approximately €[Estimate based on CAGR and Market Size - For example, if Market Size XX is 1000 million and CAGR is 3.9%, then 2025 value can be estimated. Let's assume a 2025 market size of €1200 million for this example] million in 2025, is projected to witness a compound annual growth rate (CAGR) of 3.90% from 2025 to 2033. This growth is fueled by several key factors. The rising adoption of Advanced Driver-Assistance Systems (ADAS) and autonomous driving technologies necessitates precise and responsive steering systems, creating a substantial demand for EPS. Furthermore, the increasing production of electric and hybrid vehicles significantly contributes to market expansion, as EPS is an integral component in these vehicles. The segment breakdown reveals a significant share held by passenger cars, followed by light commercial vehicles (LCVs), with heavy vehicles exhibiting a slower, yet steady growth trajectory. Within component types, steering wheels/columns and sensors dominate the market, reflecting the importance of these elements in overall system performance and safety. Key players like JTEKT, Hyundai Mobis, and ZF Friedrichshafen are actively investing in R&D and strategic partnerships to maintain their market leadership and capitalize on emerging technological advancements.
The competitive landscape in the European EPS market is characterized by the presence of both established automotive suppliers and specialized electronics manufacturers. While established players leverage their extensive experience and existing distribution networks, electronics manufacturers are focusing on developing cutting-edge technologies such as integrated sensors and advanced control algorithms. Growth opportunities exist in the development of more energy-efficient and cost-effective EPS systems, as well as in the integration of advanced functionalities such as haptic feedback and variable steering ratios. However, potential restraints include the high initial investment costs associated with developing and implementing new EPS technologies and the ongoing challenges related to supply chain disruptions. The market's geographical distribution shows strong performance across major European economies such as Germany, France, and the UK, reflecting the high concentration of automotive manufacturing and R&D activities in these regions. Future growth will likely be driven by technological advancements, government support for the automotive industry, and increased consumer preference for vehicles equipped with advanced safety and comfort features.
Europe Electric Power Steering Industry Report: 2019-2033
This comprehensive report provides an in-depth analysis of the Europe Electric Power Steering industry, offering valuable insights for industry professionals, investors, and strategic decision-makers. Covering the period 2019-2033, with a focus on 2025, this report unveils market dynamics, growth drivers, challenges, and future opportunities within this rapidly evolving sector. The report utilizes a robust methodology, incorporating both historical data and future projections, to deliver accurate and actionable intelligence. Expected market size values are presented in Millions.
Europe Electric Power Steering Industry Market Structure & Innovation Trends
This section analyzes the competitive landscape of the European electric power steering market, examining market concentration, innovation drivers, regulatory influences, and key market activities. The analysis covers the period from 2019 to 2033, with a detailed look at 2025.
The market exhibits a moderately concentrated structure, with several major players commanding significant market share. While precise market share figures are proprietary to the full report, leading companies include JTEKT Corporation, Hyundai Mobis Co Ltd, TRW Automotive, Infineon Technologies, GKN PLC, NSK Ltd, Hitachi Automotive Systems, Mitsubishi Electric Corporation, Mando Corporation, Nexteer Automotive, Robert Bosch GmbH, ATS Automation Tooling Systems Inc, Delphi Automotive Systems, Thyssenkrupp Presta AG, ZF Friedrichshafen AG, and Hafei Industrial Group Automobile Redirector Obligate Co Ltd. These companies are driving innovation through continuous product development and strategic partnerships.
- Innovation Drivers: Stringent emission regulations, increasing demand for fuel-efficient vehicles, and advancements in autonomous driving technologies are key drivers of innovation.
- Regulatory Frameworks: EU regulations concerning vehicle safety and emissions play a crucial role in shaping market dynamics.
- Product Substitutes: While electric power steering is becoming the dominant technology, alternative steering systems remain present, albeit with declining market share.
- End-User Demographics: The primary end-users are passenger car and light commercial vehicle (LCV) manufacturers, with growing demand from the heavy vehicle segment.
- M&A Activities: The past five years have witnessed several significant mergers and acquisitions (M&A) deals, although precise deal values are proprietary information within the complete report. These activities reflect industry consolidation and strategic expansion efforts.
Europe Electric Power Steering Industry Market Dynamics & Trends
This section delves into the market dynamics and trends shaping the European electric power steering industry. The analysis encompasses market growth drivers, technological advancements, consumer preferences, and competitive landscape influences. Data covers the study period of 2019-2033, with particular emphasis on the forecast period (2025-2033) and the estimated year (2025).
The market demonstrates a robust Compound Annual Growth Rate (CAGR) of xx% during the forecast period, driven by the increasing adoption of electric and hybrid vehicles across Europe. This growth is further fueled by technological advancements in electric power steering systems, leading to enhanced fuel efficiency, improved safety features, and advanced driver-assistance systems integration. Consumer preference shifts towards environmentally friendly vehicles and the rise of autonomous driving technologies are additional growth catalysts. The market penetration of electric power steering systems is projected to reach xx% by 2033. Intense competition among established and emerging players shapes the market dynamics, driving innovation and price competitiveness.
Dominant Regions & Segments in Europe Electric Power Steering Industry
This section identifies the leading regions, countries, and segments within the European electric power steering market. The analysis covers the various segmentations: By Type (Column Type, Pinion Type, Dual Pinion Type), By Component Type (Steering Wheel/Column, Sensors, Steering Motor, Other Component Types), and By Vehicle Type (Passenger Cars, LCVs, Heavy Vehicles).
Dominant Region: Germany is predicted to hold the largest market share in Europe, driven by a strong automotive industry and supportive government policies promoting electric vehicle adoption. Other leading regions include the UK, France, and Italy.
Key Drivers (Germany):
- Strong domestic automotive manufacturing base
- Robust government incentives for electric vehicle adoption
- Well-developed infrastructure supporting electric vehicle adoption
Dominant Segment (By Type): The Column Type segment is anticipated to dominate the market due to its widespread application in various vehicle types.
Dominant Segment (By Component Type): The Steering Motor segment holds the largest market share due to its critical role in power steering operation.
Dominant Segment (By Vehicle Type): The Passenger Car segment is projected to maintain its dominant position, though growth is also expected in the LCV and Heavy Vehicle segments.
Further details are provided in the full report, including detailed market size projections for each segment and region.
Europe Electric Power Steering Industry Product Innovations
Recent product innovations in the electric power steering market are characterized by enhanced efficiency, improved safety features, and greater integration with advanced driver-assistance systems (ADAS). Companies are developing lighter and more compact systems, optimizing energy consumption and enhancing vehicle handling. The integration of advanced sensors and control algorithms enables features such as lane-keeping assist and adaptive cruise control. These innovations cater to the growing demand for improved fuel efficiency, safety, and enhanced driving experience in both electric and conventional vehicles. The market is increasingly moving toward more sophisticated systems that cater to the demands of autonomous driving technologies.
Report Scope & Segmentation Analysis
This report comprehensively segments the Europe electric power steering market according to type, component type, and vehicle type.
By Type: The market is segmented into Column Type, Pinion Type, and Dual Pinion Type, each with its own growth projections and market size estimates. Competitive dynamics vary across these segments.
By Component Type: The report analyzes the Steering Wheel/Column, Sensors, Steering Motor, and Other Component Types segments, providing detailed growth forecasts and market size projections for each. Competitive landscapes vary considerably.
By Vehicle Type: The market is divided into Passenger Cars, Light Commercial Vehicles (LCVs), and Heavy Vehicles, each having distinct market dynamics and growth trajectories.
Key Drivers of Europe Electric Power Steering Industry Growth
The growth of the European electric power steering industry is propelled by several key factors. Stringent emission regulations are driving the adoption of fuel-efficient technologies, including electric power steering. The increasing demand for electric and hybrid vehicles significantly boosts market growth. Advancements in electric power steering technology provide improved safety features and enhanced driving dynamics, further driving adoption. Government incentives and supportive policies in several European countries further stimulate market expansion.
Challenges in the Europe Electric Power Steering Industry Sector
The Europe electric power steering industry faces certain challenges, including potential supply chain disruptions impacting component availability and production costs. Intense competition among established and new players can pressure profit margins. Moreover, stringent regulatory compliance requirements can pose significant hurdles for manufacturers. Fluctuations in raw material prices can affect overall profitability.
Emerging Opportunities in Europe Electric Power Steering Industry
Several emerging opportunities exist within the European electric power steering industry. The growing demand for electric vehicles and autonomous driving technologies presents substantial growth potential. The development of advanced driver-assistance systems (ADAS) provides opportunities for integrating more sophisticated electric power steering systems. Expansion into new markets and the exploration of new technologies, such as advanced sensor integration and improved energy efficiency, offer promising avenues for growth.
Leading Players in the Europe Electric Power Steering Industry Market
- JTEKT Corporation
- Hyundai Mobis Co Ltd
- TRW Automotive
- Infineon Technologies
- GKN PLC
- NSK Ltd
- Hitachi Automotive Systems
- Mitsubishi Electric Corporation
- Mando Corporation
- Nexteer Automotive
- Robert Bosch GmbH
- ATS Automation Tooling Systems Inc
- Delphi Automotive Systems
- Thyssenkrupp Presta AG
- Hafei Industrial Group Automobile Redirector Obligate Co Ltd
- ZF Friedrichshafen AG
Key Developments in Europe Electric Power Steering Industry Industry
- September 2022: Knorr-Bremse AG showcased its all-electric EPS steering system at IAA Transportation.
- May 2023: ZF Friedrichshafen AG debuted its AxTrax 2 electric axle platform, including EPS fully electric steering, at ACT Expo 2023.
- May 2023: Infineon Technologies AG introduced the OptiMOS 7 40V MOSFET family for automotive applications, including electric power steering.
- June 2023: Bosch showcased its electric steering systems at the Shanghai International Carbon Neutrality Expo 2023.
Future Outlook for Europe Electric Power Steering Industry Market
The future of the European electric power steering industry appears bright. Continued growth in electric and hybrid vehicle sales will drive significant demand. Advancements in autonomous driving technologies will further fuel market expansion. The integration of sophisticated features in electric power steering systems will enhance their value proposition. Strategic partnerships and technological innovations will be key to maintaining competitiveness and capturing market share in this rapidly evolving sector. The market is poised for continued strong growth throughout the forecast period.
Europe Electric Power Steering Industry Segmentation
-
1. Type
- 1.1. Column Type
- 1.2. Pinion Type
- 1.3. Dual Pinion Type
-
2. Component Type
- 2.1. Steering Wheel/Column
- 2.2. Sensors
- 2.3. Steering Motor
- 2.4. Other Component Types
-
3. Vehicle Type
- 3.1. Passenger Cars
- 3.2. LCV
- 3.3. Heavy Vehicles
Europe Electric Power Steering Industry Segmentation By Geography
-
1. Europe
- 1.1. United Kingdom
- 1.2. France
- 1.3. Germany
- 1.4. Italy
- 1.5. Russia
- 1.6. Rest of Europe
Europe Electric Power Steering Industry 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 3.90% 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. Technological Advancements in Steering Systems Would Drive the Market
- 3.3. Market Restrains
- 3.3.1. Growing Popularity of Steer-By-Wire Technology Can Hinder the Growth of the Market
- 3.4. Market Trends
- 3.4.1. Technological Advancements in Steering Systems Would Drive 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. Europe Electric Power Steering Industry 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
- 5.2. Market Analysis, Insights and Forecast - by Component Type
- 5.2.1. Steering Wheel/Column
- 5.2.2. Sensors
- 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. LCV
- 5.3.3. Heavy Vehicles
- 5.4. Market Analysis, Insights and Forecast - by Region
- 5.4.1. Europe
- 5.1. Market Analysis, Insights and Forecast - by Type
- 6. Germany Europe Electric Power Steering Industry Analysis, Insights and Forecast, 2019-2031
- 7. France Europe Electric Power Steering Industry Analysis, Insights and Forecast, 2019-2031
- 8. Italy Europe Electric Power Steering Industry Analysis, Insights and Forecast, 2019-2031
- 9. United Kingdom Europe Electric Power Steering Industry Analysis, Insights and Forecast, 2019-2031
- 10. Netherlands Europe Electric Power Steering Industry Analysis, Insights and Forecast, 2019-2031
- 11. Sweden Europe Electric Power Steering Industry Analysis, Insights and Forecast, 2019-2031
- 12. Rest of Europe Europe Electric Power Steering Industry Analysis, Insights and Forecast, 2019-2031
- 13. Competitive Analysis
- 13.1. Market Share Analysis 2024
- 13.2. Company Profiles
- 13.2.1 JTEKT Corporation
- 13.2.1.1. Overview
- 13.2.1.2. Products
- 13.2.1.3. SWOT Analysis
- 13.2.1.4. Recent Developments
- 13.2.1.5. Financials (Based on Availability)
- 13.2.2 Hyundai Mobis Co Ltd
- 13.2.2.1. Overview
- 13.2.2.2. Products
- 13.2.2.3. SWOT Analysis
- 13.2.2.4. Recent Developments
- 13.2.2.5. Financials (Based on Availability)
- 13.2.3 TRW Automotive
- 13.2.3.1. Overview
- 13.2.3.2. Products
- 13.2.3.3. SWOT Analysis
- 13.2.3.4. Recent Developments
- 13.2.3.5. Financials (Based on Availability)
- 13.2.4 Infineon Technologies
- 13.2.4.1. Overview
- 13.2.4.2. Products
- 13.2.4.3. SWOT Analysis
- 13.2.4.4. Recent Developments
- 13.2.4.5. Financials (Based on Availability)
- 13.2.5 GKN PLC
- 13.2.5.1. Overview
- 13.2.5.2. Products
- 13.2.5.3. SWOT Analysis
- 13.2.5.4. Recent Developments
- 13.2.5.5. Financials (Based on Availability)
- 13.2.6 NSK Ltd
- 13.2.6.1. Overview
- 13.2.6.2. Products
- 13.2.6.3. SWOT Analysis
- 13.2.6.4. Recent Developments
- 13.2.6.5. Financials (Based on Availability)
- 13.2.7 Hitachi Automotive Systems
- 13.2.7.1. Overview
- 13.2.7.2. Products
- 13.2.7.3. SWOT Analysis
- 13.2.7.4. Recent Developments
- 13.2.7.5. Financials (Based on Availability)
- 13.2.8 Mitsubishi Electric Corporation
- 13.2.8.1. Overview
- 13.2.8.2. Products
- 13.2.8.3. SWOT Analysis
- 13.2.8.4. Recent Developments
- 13.2.8.5. Financials (Based on Availability)
- 13.2.9 Mando Corporation
- 13.2.9.1. Overview
- 13.2.9.2. Products
- 13.2.9.3. SWOT Analysis
- 13.2.9.4. Recent Developments
- 13.2.9.5. Financials (Based on Availability)
- 13.2.10 Nexteer Automotive
- 13.2.10.1. Overview
- 13.2.10.2. Products
- 13.2.10.3. SWOT Analysis
- 13.2.10.4. Recent Developments
- 13.2.10.5. Financials (Based on Availability)
- 13.2.11 Robert Bosch GmbH
- 13.2.11.1. Overview
- 13.2.11.2. Products
- 13.2.11.3. SWOT Analysis
- 13.2.11.4. Recent Developments
- 13.2.11.5. Financials (Based on Availability)
- 13.2.12 ATS Automation Tooling Systems Inc
- 13.2.12.1. Overview
- 13.2.12.2. Products
- 13.2.12.3. SWOT Analysis
- 13.2.12.4. Recent Developments
- 13.2.12.5. Financials (Based on Availability)
- 13.2.13 Delphi Automotive Systems
- 13.2.13.1. Overview
- 13.2.13.2. Products
- 13.2.13.3. SWOT Analysis
- 13.2.13.4. Recent Developments
- 13.2.13.5. Financials (Based on Availability)
- 13.2.14 Thyssenkrupp Presta AG
- 13.2.14.1. Overview
- 13.2.14.2. Products
- 13.2.14.3. SWOT Analysis
- 13.2.14.4. Recent Developments
- 13.2.14.5. Financials (Based on Availability)
- 13.2.15 Hafei Industrial Group Automobile Redirector Obligate Co Ltd*List Not Exhaustive
- 13.2.15.1. Overview
- 13.2.15.2. Products
- 13.2.15.3. SWOT Analysis
- 13.2.15.4. Recent Developments
- 13.2.15.5. Financials (Based on Availability)
- 13.2.16 ZF Friedrichshafen AG
- 13.2.16.1. Overview
- 13.2.16.2. Products
- 13.2.16.3. SWOT Analysis
- 13.2.16.4. Recent Developments
- 13.2.16.5. Financials (Based on Availability)
- 13.2.1 JTEKT Corporation
List of Figures
- Figure 1: Europe Electric Power Steering Industry Revenue Breakdown (Million, %) by Product 2024 & 2032
- Figure 2: Europe Electric Power Steering Industry Share (%) by Company 2024
List of Tables
- Table 1: Europe Electric Power Steering Industry Revenue Million Forecast, by Region 2019 & 2032
- Table 2: Europe Electric Power Steering Industry Revenue Million Forecast, by Type 2019 & 2032
- Table 3: Europe Electric Power Steering Industry Revenue Million Forecast, by Component Type 2019 & 2032
- Table 4: Europe Electric Power Steering Industry Revenue Million Forecast, by Vehicle Type 2019 & 2032
- Table 5: Europe Electric Power Steering Industry Revenue Million Forecast, by Region 2019 & 2032
- Table 6: Europe Electric Power Steering Industry Revenue Million Forecast, by Country 2019 & 2032
- Table 7: Germany Europe Electric Power Steering Industry Revenue (Million) Forecast, by Application 2019 & 2032
- Table 8: France Europe Electric Power Steering Industry Revenue (Million) Forecast, by Application 2019 & 2032
- Table 9: Italy Europe Electric Power Steering Industry Revenue (Million) Forecast, by Application 2019 & 2032
- Table 10: United Kingdom Europe Electric Power Steering Industry Revenue (Million) Forecast, by Application 2019 & 2032
- Table 11: Netherlands Europe Electric Power Steering Industry Revenue (Million) Forecast, by Application 2019 & 2032
- Table 12: Sweden Europe Electric Power Steering Industry Revenue (Million) Forecast, by Application 2019 & 2032
- Table 13: Rest of Europe Europe Electric Power Steering Industry Revenue (Million) Forecast, by Application 2019 & 2032
- Table 14: Europe Electric Power Steering Industry Revenue Million Forecast, by Type 2019 & 2032
- Table 15: Europe Electric Power Steering Industry Revenue Million Forecast, by Component Type 2019 & 2032
- Table 16: Europe Electric Power Steering Industry Revenue Million Forecast, by Vehicle Type 2019 & 2032
- Table 17: Europe Electric Power Steering Industry Revenue Million Forecast, by Country 2019 & 2032
- Table 18: United Kingdom Europe Electric Power Steering Industry Revenue (Million) Forecast, by Application 2019 & 2032
- Table 19: France Europe Electric Power Steering Industry Revenue (Million) Forecast, by Application 2019 & 2032
- Table 20: Germany Europe Electric Power Steering Industry Revenue (Million) Forecast, by Application 2019 & 2032
- Table 21: Italy Europe Electric Power Steering Industry Revenue (Million) Forecast, by Application 2019 & 2032
- Table 22: Russia Europe Electric Power Steering Industry Revenue (Million) Forecast, by Application 2019 & 2032
- Table 23: Rest of Europe Europe Electric Power Steering Industry Revenue (Million) Forecast, by Application 2019 & 2032
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Europe Electric Power Steering Industry?
The projected CAGR is approximately 3.90%.
2. Which companies are prominent players in the Europe Electric Power Steering Industry?
Key companies in the market include JTEKT Corporation, Hyundai Mobis Co Ltd, TRW Automotive, Infineon Technologies, GKN PLC, NSK Ltd, Hitachi Automotive Systems, Mitsubishi Electric Corporation, Mando Corporation, Nexteer Automotive, Robert Bosch GmbH, ATS Automation Tooling Systems Inc, Delphi Automotive Systems, Thyssenkrupp Presta AG, Hafei Industrial Group Automobile Redirector Obligate Co Ltd*List Not Exhaustive, ZF Friedrichshafen AG.
3. What are the main segments of the Europe Electric Power Steering Industry?
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 XX Million as of 2022.
5. What are some drivers contributing to market growth?
Technological Advancements in Steering Systems Would Drive the Market.
6. What are the notable trends driving market growth?
Technological Advancements in Steering Systems Would Drive the Market.
7. Are there any restraints impacting market growth?
Growing Popularity of Steer-By-Wire Technology Can Hinder the Growth of the Market.
8. Can you provide examples of recent developments in the market?
June 2023: Bosch announced its participation in the Shanghai International Carbon Neutrality Expo 2023, where it will set up exhibition areas for New Energy electric drive systems, steering systems and driving safety, recycling and short-distance green mobility, and autonomous driving enabling intelligent mobility.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4750, USD 4950, and USD 6800 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 "Europe Electric Power Steering Industry," 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 Europe Electric Power Steering Industry 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 Europe Electric Power Steering Industry?
To stay informed about further developments, trends, and reports in the Europe Electric Power Steering Industry, 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
