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Automotive Electric Power Steering ECU Market Size (2024 - 2029)

The automotive electric power steering ECU market is experiencing significant growth, driven by increasing demand for personal vehicles and technological advancements. The shift in consumer preferences from public transport to personal vehicles, accelerated by the recovery from the COVID-19 pandemic, is contributing to this expansion. The market's growth is further supported by the rising adoption of autonomous vehicles, which require electric power steering systems for enhanced fuel efficiency. Emerging markets, particularly in Asia, are witnessing a surge in demand due to increasing purchasing power and supportive government policies aimed at boosting the manufacturing sector.

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Market Size of Automotive Electric Power Steering ECU Industry

Automotive Electric Power Steering ECU Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 6.20 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Automotive Electric Power Steering ECU Market Key Players

*Disclaimer: Major Players sorted in no particular order

Automotive ECU Market Analysis

The automotive electric power steering ECU market was valued at USD 18.6 billion in 2020, and it is expected to reach USD 27 billion by 2026, registering a CAGR greater than 6.2% during the forecast period (2021 - 2026).

The outbreak of the COVID-19 pandemic hit the automobile industry adversely. Disruptions were caused in the supply chain as several major economies of the world were in lockdown. All the manufacturing units and OEM plants were forced to halt production and operations during this period. With the recovery of economies, the market witnessed a huge demand for passenger cars as the consumer preferences changed from public transport to personal vehicles. The trend is expected to continue and drive the market growth.

Automotive electric power steering ECU is an integral component needed to drive the electric motor in the EPS unit. Factors such as extensive ownership of personal vehicles and growing technological advancements may see the rise of the EPS ECU market.

With autonomous vehicles gaining traction, it is fueling the demand for the electric power steering market and ECUs across the world. Vehicles that are equipped with EPS tend to have a reduced overall weight, which further increases fuel efficiency.

The purchasing power of people is increasing and pushing the demand for personal vehicles. China and India are witnessing this surge as the affordability of people is clearly increasing in these countries. Growth can be seen among other emerging markets in Southeast Asian countries like Bangladesh and Vietnam.

In India, government policies, such as the 'Make in India' initiative to improve the manufacturing sector in the nation, may also lead to a bright future for the market.

Automotive ECU Industry Segmentation

The automotive electric power steering ECU market report provides an analysis of the various areas of the market demand by EPS type, application, and demand category. Detailed analysis and market share of major ECU manufacturing companies across the globe will be provided in the scope of the report.

The automotive electric power steering ECU market is segmented by vehicle type (passenger cars and commercial vehicles), product type (column type, pinion type, and dual pinion type), demand category (OEM and replacement), and geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers the market sizes and forecasts in value (USD billion) for all the above segments.

Vehicle Type
Passenger Car
Commercial Vehicle
Product Type
Column Type
Pinion Type
Dual Pinion Type
Demand Category
OEM
Replacement
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
Brazil
Mexico
United Arab Emirates
Other Countries
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Automotive Electric Power Steering ECU Market Size Summary

The automotive electric power steering ECU market is experiencing significant growth, driven by the increasing demand for personal vehicles and advancements in technology. The shift in consumer preference from public transport to personal vehicles, particularly in the wake of the COVID-19 pandemic, has bolstered the market. The electric power steering ECU, a crucial component for driving the electric motor in the EPS unit, is gaining traction due to its benefits such as reduced vehicle weight and improved fuel efficiency. The rise of autonomous vehicles further fuels the demand for EPS systems, as they enhance vehicle control and safety. Emerging economies, particularly in Asia-Pacific, are witnessing a surge in vehicle production and sales, with countries like China, India, Bangladesh, and Vietnam leading the charge. Government initiatives and policies, such as India's 'Make in India,' are expected to contribute positively to the market's future.

The market is characterized by a consolidated landscape, with key players like JTEKT, NSK Ltd, ZF TRW, Nexteer Automotive, and Sono Koyo Steering holding significant market shares. These companies are actively engaging in joint ventures, partnerships, and the launch of new products to maintain a competitive edge. Technological advancements in the ECU segment are being driven by the need to meet stringent government safety standards and emission norms. The implementation of EPS systems is also seen as a way to reduce maintenance costs and enhance driver control, thereby improving safety. Despite less than 40% of passenger cars currently utilizing EPS technology, regulatory pressures on fuel efficiency are anticipated to propel market growth. The ongoing development of advanced EPS systems, such as those by Nexteer and ZF, underscores the industry's commitment to innovation and improved vehicle performance.

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Automotive Electric Power Steering ECU Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Vehicle Type

      1. 2.1.1 Passenger Car

      2. 2.1.2 Commercial Vehicle

    2. 2.2 Product Type

      1. 2.2.1 Column Type

      2. 2.2.2 Pinion Type

      3. 2.2.3 Dual Pinion Type

    3. 2.3 Demand Category

      1. 2.3.1 OEM

      2. 2.3.2 Replacement

    4. 2.4 Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

        3. 2.4.1.3 Rest of North America

      2. 2.4.2 Europe

        1. 2.4.2.1 Germany

        2. 2.4.2.2 United Kingdom

        3. 2.4.2.3 France

        4. 2.4.2.4 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 India

        2. 2.4.3.2 China

        3. 2.4.3.3 Japan

        4. 2.4.3.4 South Korea

        5. 2.4.3.5 Rest of Asia-Pacific

      4. 2.4.4 Rest of the World

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Mexico

        3. 2.4.4.3 United Arab Emirates

        4. 2.4.4.4 Other Countries

Automotive Electric Power Steering ECU Market Size FAQs

The Automotive Electric Power Steering ECU Market is projected to register a CAGR of greater than 6.20% during the forecast period (2024-2029)

JTEKT , NSK Ltd. , ZF TRW , Nexteer Automotive and Bosch Corporation are the major companies operating in the Automotive Electric Power Steering ECU Market.

Automotive ECU Market Report Snapshots

Automotive Electric Power Steering ECU Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)