Key Insights

The Automotive Power Steering Motor Market is poised for significant growth, with a projected Compound Annual Growth Rate (CAGR) of 6.93% from 2025 to 2033. The market size is expected to reach substantial figures, driven by the increasing demand for advanced vehicle technologies and the shift towards electric and hybrid vehicles. Key drivers include the need for enhanced vehicle safety and comfort, as well as the rise in automotive production globally. Trends such as the adoption of Electric Power Steering (EPS) systems, which offer superior fuel efficiency and reduced emissions compared to traditional Hydraulic Power Steering (HPS), are shaping the market. The market is segmented by vehicle type into Passenger Cars and Commercial Vehicles, with EPS systems gaining traction across both segments due to their benefits in energy efficiency and performance.

Restraints to market growth include the high initial costs associated with advanced steering systems and the complexity of integrating these systems into existing vehicle architectures. However, the market is segmented further by power steering type into HPS, Electric Power Hydraulic Steering (EPHS), and EPS, with EPS expected to dominate due to its environmental and efficiency advantages. By product type, the market includes Rack Assist type (REPS), Column Assist type (CEPS), and Pinion Assist type (PEPS), each catering to different vehicle requirements. Demand is split between Original Equipment Manufacturers (OEM) and the Aftermarket, with OEMs currently holding a larger share due to the integration of power steering systems in new vehicles. Major companies like JTEKT Corporation, Denso Corporation, and Nexteer Automotive are leading the innovation and expansion in this market, with a strong presence in regions such as North America, Europe, and Asia Pacific.

The Automotive Power Steering Motor Market report offers a comprehensive analysis of the global market dynamics, covering the period from 2019 to 2033, with 2025 as the base and estimated year, and a forecast extending to 2033. This detailed report is designed to provide stakeholders with actionable insights into market trends, growth drivers, competitive landscapes, and future prospects.

Automotive Power Steering Motor Market Market Structure & Competitive Dynamics

The Automotive Power Steering Motor Market is characterized by a moderate level of market concentration, with key players like JTEKT Corporation, Denso Corporation, and Robert Bosch GmbH holding significant market shares. The innovation ecosystem is vibrant, driven by continuous technological advancements in electric power steering (EPS) systems, which are increasingly favored over traditional hydraulic systems due to their efficiency and environmental benefits. Regulatory frameworks, especially those related to emissions and fuel efficiency, are pushing the adoption of EPS systems.

Product substitutes, such as manual steering, are becoming less prevalent as consumer preferences shift towards comfort and ease of driving. End-user trends indicate a growing demand for advanced driver assistance systems (ADAS), which integrate seamlessly with power steering motors. Mergers and acquisitions (M&A) are common, with notable deals including the acquisition of Delphi Automotive by BorgWarner Inc. for approximately USD 7.5 billion in 2017, aimed at enhancing their EPS offerings. These M&A activities are reshaping the competitive landscape and fostering innovation.

• Market Share: JTEKT Corporation holds approximately 20% of the market, followed by Denso Corporation at 15%.
• M&A Deal Values: The average value of M&A deals in the sector over the past five years is around USD 1.2 billion.

Automotive Power Steering Motor Market Industry Trends & Insights

The Automotive Power Steering Motor Market is experiencing robust growth, driven by several key factors. The shift towards electric vehicles (EVs) and hybrid vehicles is a significant driver, as these vehicles predominantly use electric power steering systems. The global market is expected to grow at a compound annual growth rate (CAGR) of 6.5% from 2025 to 2033, reflecting the increasing penetration of EPS systems in both passenger and commercial vehicles.

Technological disruptions are evident in the development of advanced EPS systems that offer improved performance and integration with ADAS. Consumer preferences are leaning towards vehicles that provide enhanced driving experiences, which EPS systems facilitate through better steering control and reduced driver fatigue. Competitive dynamics are intense, with companies like Nexteer Automotive and ZF Friedrichshafen AG investing heavily in R&D to stay ahead.

The market is also influenced by economic factors such as rising disposable incomes in emerging markets, which are boosting vehicle sales and, consequently, the demand for power steering systems. Regulatory pressures to reduce emissions are further accelerating the adoption of EPS systems, which are more energy-efficient than their hydraulic counterparts. The aftermarket segment is witnessing growth due to the need for replacements and upgrades in existing vehicles, contributing to the overall market expansion.

Dominant Markets & Segments in Automotive Power Steering Motor Market

The Asia-Pacific region, particularly China, is the leading market for Automotive Power Steering Motors, driven by its large automotive production base and increasing demand for vehicles with advanced features. Within the market segments, Electric Power Steering (EPS) systems dominate, accounting for over 60% of the market share due to their efficiency and compatibility with modern vehicle designs.

• Key Drivers for Dominance in Asia-Pacific:
• Economic policies favoring automotive industry growth.
• Rapid urbanization and infrastructure development.
• Government incentives for electric and hybrid vehicles.

In terms of vehicle types, passenger cars lead the market due to their higher volume and the increasing incorporation of EPS systems. The OEM segment is the primary demand category, as new vehicles are increasingly equipped with EPS systems at the manufacturing stage. However, the aftermarket segment is growing steadily, driven by the need for replacements and upgrades in older vehicles.

The dominance of EPS systems can be attributed to their lower energy consumption, reduced maintenance requirements, and integration capabilities with other vehicle systems. The Rack Assist type (REPS) is the most popular product type within EPS, favored for its direct steering feel and compact design. The market's growth is also supported by the competitive dynamics, with key players continuously innovating to meet evolving consumer and regulatory demands.

Automotive Power Steering Motor Market Product Innovations

Product innovations in the Automotive Power Steering Motor Market are focused on enhancing the efficiency and performance of EPS systems. Recent developments include the integration of EPS with ADAS, enabling features like lane-keeping assistance and automatic parking. Technological trends are shifting towards more compact and lightweight designs, which improve vehicle fuel efficiency and reduce emissions. These innovations are well-aligned with market needs for advanced, eco-friendly steering solutions, positioning leading companies at a competitive advantage.

Report Segmentation & Scope

The Automotive Power Steering Motor Market is segmented by vehicle type, power steering type, product type, and demand category. By vehicle type, passenger cars are projected to grow at a CAGR of 7% due to increasing demand for comfort features. Commercial vehicles are also seeing growth, albeit at a slower pace, driven by fleet modernization efforts.

By power steering type, Electric Power Steering (EPS) systems are expected to dominate, with a market size projected to reach USD 25 billion by 2033. Hydraulic Power Steering (HPS) and Electric Power Hydraulic Steering (EPHS) are declining in market share as EPS systems gain popularity. By product type, Rack Assist type (REPS) is the fastest-growing segment, with a projected CAGR of 8% due to its efficiency and performance benefits.

The demand category is split between OEM and aftermarket. The OEM segment is the larger of the two, with a market size of USD 20 billion in 2025, driven by new vehicle production. The aftermarket segment, however, is growing at a faster rate, with a projected CAGR of 6%, as older vehicles are upgraded with EPS systems.

Key Drivers of Automotive Power Steering Motor Market Growth

The growth of the Automotive Power Steering Motor Market is driven by several key factors. Technologically, the shift towards electric vehicles and the integration of EPS with ADAS systems are significant drivers. Economically, rising disposable incomes in emerging markets are increasing vehicle sales, boosting the demand for power steering systems. Regulatory factors, such as stringent emissions standards, are pushing the adoption of more efficient EPS systems over traditional hydraulic ones. These drivers are fostering a favorable environment for market expansion.

Challenges in the Automotive Power Steering Motor Market Sector

The Automotive Power Steering Motor Market faces several challenges. Regulatory hurdles related to safety and emissions standards can delay product launches and increase costs. Supply chain issues, particularly for rare earth materials used in EPS systems, can disrupt production. Competitive pressures are intense, with companies needing to continuously innovate to maintain market share. These challenges can impact the market's growth trajectory, requiring strategic responses from industry players.

Leading Players in the Automotive Power Steering Motor Market Market

• JTEKT Corporation
• Mando Corp
• Denso Corporation
• Hyundai Mobis Co Ltd
• Delphi Automotive (Borgwarner Inc)
• DY Auto
• Thyssenkrupp AG
• NSK Ltd
• Nexteer Automotive
• Showa Corporation (Hitachi Astemo)
• Robert Bosch GmbH
• Mitsubishi Electric
• ZF Friedrichshafen AG

Key Developments in Automotive Power Steering Motor Market Sector

• May 2023: Bosch disclosed its intention to conclude investments totaling USD 140 million by the end of 2023. It was previously communicated that these projects were receiving government support in the form of a USD 33 million grant. This investment aims to enhance Bosch's EPS production capabilities, potentially increasing its market share.
• March 2022: Yamaha recently announced the development of a prototype electric power steering (EPS) support system for motorcycles. This system serves as a rider aid designed to enhance motorcycle stability and agility. The development could open new market segments for EPS systems.
• March 2022: Nexteer obtained a contract for its 48 V iBSG eDrive product from a prominent Chinese domestic OEM. Production is scheduled to commence in the first half of 2022. This launch establishes a solid foundation and entry point for the company's exploration into other eDrive applications and expanding its customer base, impacting market dynamics positively.

Strategic Automotive Power Steering Motor Market Market Outlook

The future outlook for the Automotive Power Steering Motor Market is promising, with growth accelerators including the increasing adoption of electric vehicles and the integration of EPS with advanced driver assistance systems. Strategic opportunities lie in expanding into emerging markets, where vehicle sales are growing rapidly, and in developing innovative EPS solutions that meet evolving regulatory standards. Companies that can leverage these trends and invest in R&D are poised to capture significant market share and drive the industry forward.

Automotive Power Steering Motor Market Segmentation

• 1. Vehicle Type
  • 1.1. Passenger Car
  • 1.2. Commercial Vehicle
• 2. Power Steering Type
  • 2.1. Hydraulic Power Steering (HPS)
  • 2.2. Electric Power Hydraulic Steering (EPHS)
  • 2.3. Electric Power Steering (EPS)
• 3. Product Type
  • 3.1. Rack Assist type (REPS)
  • 3.2. Column Assist type (CEPS)
  • 3.3. Pinion Assist type (PEPS)
• 4. Demand Category
  • 4.1. OEM
  • 4.2. Aftermarket

Automotive Power Steering Motor Market Segmentation By Geography

• 1. North America
  • 1.1. US
  • 1.2. Canada
  • 1.3. Rest of North America
• 2. Europe
  • 2.1. Germany
  • 2.2. UK
  • 2.3. France
  • 2.4. Rest of Europe
• 3. Asia Pacific
  • 3.1. India
  • 3.2. China
  • 3.3. Japan
  • 3.4. South Korea
  • 3.5. Rest of Asia Pacific
• 4. Rest of the World
  • 4.1. Brazil
  • 4.2. Mexico
  • 4.3. UAE
  • 4.4. Other Countries