The Global Car Electric Power Steering Market was valued at USD 16.62 Billion in 2023 and is projected to reach USD 21.12 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 2.70% during the forecast period (2023–2032). This growth is being driven by the rising demand for fuel-efficient and electric vehicles, increasing integration with advanced driver assistance systems (ADAS), and the shift toward autonomous driving technologies across passenger and commercial vehicle segments.
As the automotive sector evolves with electrification and enhanced vehicle safety features, attention turns to the major suppliers pioneering electric power steering (EPS) solutions. These systems replace traditional hydraulic setups with efficient, electronically controlled mechanisms that improve handling and reduce energy consumption. In this blog, we profile the Top 10 Companies in the Car Electric Power Steering Industry—a blend of established tier-1 suppliers and innovative manufacturers steering the future of mobility.
🔟 1. Zhejiang Shibao
Headquarters: Hangzhou, China
Key Offering: C-EPS, R-EPS for Passenger Vehicles
Zhejiang Shibao stands as a prominent player in the Asian market, specializing in cost-effective EPS systems that cater to mid-range passenger cars. The company has expanded its production capacity to meet the surging demand from domestic automakers, focusing on lightweight designs that enhance fuel efficiency without compromising on steering precision.
Innovation Initiatives:
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Development of integrated EPS modules for electric vehicles
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Partnerships with Chinese OEMs for localized manufacturing
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Investment in sensor technology for better road feedback
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9️⃣ 2. Yubei
Headquarters: Jilin, China
Key Offering: P-EPS, R-EPS for Commercial Vehicles
Yubei has carved a niche in heavy-duty applications, supplying robust EPS systems to commercial truck manufacturers across Asia. Its products are known for durability in harsh conditions, supporting the growing fleet electrification in logistics and transportation sectors. The company continues to refine its offerings to align with global emission standards.
Innovation Initiatives:
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Enhancements in torque sensors for improved stability
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Expansion into hybrid vehicle steering solutions
8️⃣ 3. Zhuzhou Elite
Headquarters: Zhuzhou, China
Key Offering: C-EPS, Integrated EPS Systems
Zhuzhou Elite focuses on high-precision EPS components, serving both passenger and emerging electric vehicle markets. With a strong emphasis on R&D, the company integrates advanced electronics to enable seamless compatibility with autonomous features, positioning itself as a key supplier in China’s booming auto industry.
Innovation Initiatives:
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Advanced EPS for ADAS integration
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Lightweight materials to reduce vehicle weight
7️⃣ 4. CAAS
Headquarters: Tokyo, Japan
Key Offering: R-EPS, P-EPS for Passenger Vehicles
CAAS delivers reliable EPS solutions tailored for compact and mid-size cars, with a focus on smooth steering assist. Operating primarily in Japan and exporting to Southeast Asia, it emphasizes energy-efficient designs that contribute to better overall vehicle performance and lower operational costs for drivers.
Innovation Initiatives:
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Collaborations with Japanese automakers for next-gen EVs
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Steering systems with adaptive damping control
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6️⃣ 5. Mando
Headquarters: Seoul, South Korea
Key Offering: C-EPS, R-EPS for Passenger and Commercial Vehicles
Mando provides comprehensive EPS portfolios, including systems that support advanced safety features like lane-keeping assist. As a major supplier to Hyundai and Kia, it has scaled production to address the global push for smarter vehicles, incorporating real-time adjustments for varying driving conditions.
Innovation Initiatives:
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EPS with built-in fail-safe mechanisms
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Focus on reducing power consumption in EVs
5️⃣ 6. Thyssenkrupp
Headquarters: Essen, Germany
Key Offering: P-EPS, Active Steering Systems
Thyssenkrupp excels in innovative steering technologies, offering EPS that enhances vehicle dynamics for European premium brands. Its solutions integrate with chassis systems for superior handling, and the company is actively developing software-updatable modules to keep pace with evolving regulations and consumer demands.
Innovation Initiatives:
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Steer-by-wire technologies for autonomous vehicles
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Current production: Over 5 million units annually
4️⃣ 7. Hyundai Mobis
Headquarters: Seoul, South Korea
Key Offering: Integrated EPS, MDPS (Motor Driven Power Steering)
Hyundai Mobis leads in modular EPS designs, supplying in-house for Hyundai Motor Group while expanding globally. Its systems are optimized for electric and hybrid platforms, providing precise control that improves safety and comfort, especially in urban driving scenarios where maneuverability is crucial.
Innovation Initiatives:
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MDPS adoption in over 80% of Hyundai EVs
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R&D in haptic feedback for steering wheels
Download FREE Sample Report: Car Electric Power Steering Market – View in Detailed Research Report
3️⃣ 8. Hitachi Astemo (formerly Showa)
Headquarters: Tokyo, Japan
Key Offering: C-EPS, R-EPS for Passenger Vehicles
Hitachi Astemo combines expertise in electronics and mechanics to deliver EPS systems that support high-speed stability and low-speed agility. Serving major Japanese and international OEMs, it invests heavily in simulation technologies to predict and enhance steering performance under diverse conditions.
Innovation Initiatives:
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Integration with vehicle-to-everything (V2X) communication
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Expansion in North American market through partnerships
2️⃣ 9. NSK
Headquarters: Tokyo, Japan
Key Offering: C-EPS, Compact EPS Modules
NSK is renowned for its precision engineering in EPS, focusing on compact, high-torque motors that fit seamlessly into modern vehicle architectures. The company supplies to luxury and mass-market segments alike, emphasizing reliability that has earned it a strong foothold in Europe and Asia-Pacific regions.
Innovation Initiatives:
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Noise-vibration-harshness (NVH) reduction technologies
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Target: 20% increase in EPS efficiency by 2025
1️⃣ 10. ZF
Headquarters: Friedrichshafen, Germany
Key Offering: R-EPS, Steer-by-Wire Systems for All Vehicle Types
ZF dominates the EPS landscape with advanced systems that enable semi-autonomous driving, supporting over 50 million vehicles worldwide. Its portfolio includes rack-assist and column-assist variants, with ongoing developments in fully electronic steering for future Level 4 autonomy, making it indispensable for global automakers transitioning to smart mobility.
Innovation Initiatives:
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Steer-by-wire prototypes tested in production vehicles
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Strategic alliances with tech firms for AI-enhanced steering
Read Full Report: Car Electric Power Steering Market – View in Detailed Research Report
🌍 Outlook: The Future of Car Electric Power Steering Is Smarter and More Efficient
The Car Electric Power Steering market is experiencing steady evolution. Traditional hydraulic systems are giving way to EPS, which offers up to 80% energy savings and better integration with digital ecosystems. Industry players are channeling resources into software-defined steering, connectivity, and sustainability to meet stringent safety and emission norms.
Because of the push toward electric vehicles, EPS adoption is accelerating, particularly in Asia-Pacific where manufacturing hubs are expanding. However, challenges like supply chain disruptions and cybersecurity in connected systems persist. Furthermore, regulatory mandates for ADAS in new vehicles are propelling innovation, ensuring safer roads worldwide.
Market segmentation reveals strong growth in R-EPS for passenger cars, while P-EPS gains traction in commercial applications. Geographically, North America holds a significant share due to high EV penetration, but Asia-Pacific is poised to lead with its vast production scale. The report highlights that by 2032, over 70% of new vehicles will feature EPS, driven by cost reductions and technological maturity.
Key drivers include the need for precise control in autonomous setups and fuel efficiency gains, with restraints like high initial costs for premium systems. Opportunities lie in emerging markets and aftermarket retrofits. SWOT analyses of top players show strengths in R&D but vulnerabilities to raw material fluctuations.
Value chain insights point to upstream suppliers of motors and sensors as critical, with downstream OEM integrations dominating. Porter’s Five Forces indicate moderate supplier power but intense rivalry among incumbents. Overall, the market’s trajectory supports sustained investment, with projections aligning to the 2.70% CAGR.
📈 Key Trends Shaping the Market:
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Integration of EPS with ADAS and autonomous driving features
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Rise of steer-by-wire eliminating mechanical linkages
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Focus on lightweight, recyclable materials for sustainability
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Expansion in EV and hybrid vehicle platforms globally
Market Trends Affecting Car Electric Power Steering Innovation
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Electrification of vehicle fleets — As EVs proliferate, EPS systems are adapting to battery-powered architectures, reducing dependency on engine-driven hydraulics and enabling regenerative energy features. Companies like ZF are leading with all-electric designs.
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ADAS and autonomy advancements — EPS now incorporates sensors for lane centering and emergency maneuvers, complying with regulations like Euro NCAP. Bosch’s modular platforms exemplify this shift toward software-centric control.
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Supply chain localization — Geopolitical tensions are prompting regional manufacturing hubs, especially in Asia, to secure semiconductor and rare-earth supplies. JTEKT’s expansions in China illustrate efforts to mitigate risks.
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Sustainability and efficiency drives — Lighter EPS components lower vehicle weight, aiding CO2 reductions. Nexteer’s focus on eco-friendly materials aligns with OEM goals for green certifications.
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Connectivity and over-the-air updates — Cloud-enabled EPS allows remote tuning for personalized driving, with Hyundai Mobis pioneering secure firmware updates to enhance safety and user experience.
In-depth regional analysis shows Europe emphasizing safety innovations, while North America’s USD 4.53 billion valuation in 2023 underscores tech leadership. Asia-Pacific’s growth is fueled by volume production, with projections for China to dominate by 2030. Chapter outlines from the report detail competitive shares, where JTEKT and Bosch command over 40% combined, alongside forecasts for type-specific expansions like R-EPS surging 3% annually.
The competitive landscape features mergers, such as Hyundai Mobis’s integrations, and new launches like ZF’s cubic EPS. Historical data from 2018-2023 shows steady penetration, with current trends pointing to blue-ocean opportunities in commercial EVs. For stakeholders, this means navigating restraints like chip shortages while capitalizing on post-pandemic recovery.
Businesses can leverage segmentation by type (C-EPS holding 45% share) and application (passenger vehicles at 70%) to target niches. Geographic breakdowns reveal South America’s potential in affordable EPS for emerging fleets, and MEA’s growth via infrastructure investments. Company profiles include SWOTs, benchmarking JTEKT’s precision against ZF’s breadth.
Future outlook incorporates drivers like 5G integration for real-time steering adjustments and challenges from legacy system inertia. Porter’s analysis rates buyer power high due to OEM consolidations, while value chains highlight downstream dominance. With 6-month analyst support, the full report equips readers for strategic decisions in this vital automotive subdomain.
Read Full Report: Car Electric Power Steering Market – View in Detailed Research Report
The companies listed above are not only powering vehicle control—they’re accelerating the era of intelligent mobility.