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The automotive steering motor market size is estimated to grow by USD 456.2 million at a CAGR of 4.5% between 2023 and 2028. Electric Power Steering (EPS) systems have gained significant traction in modern vehicles due to their ability to improve fuel efficiency and reduce emissions. This technology, which replaces the traditional hydraulic steering system, relies on an electric motor to assist the driver in steering the vehicle. The increasing adoption of EPS is a key development in the automotive industry, as it contributes to reducing the overall weight of the vehicle and enhancing its driving dynamics. Another notable trend in the automotive sector is the increasing penetration of 48V electrical architectures in automobiles. This technology, which provides a more efficient and cost-effective power supply system, enables the integration of various electrical components, including EPS systems. The adoption of 48V electrical architectures is expected to further boost the growth of the Electric Power Steering market, as it allows for more advanced features and improved vehicle performance.
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The market is driven by the increasing adoption of Electrically Assisted Power Steering (EPS) systems in both passenger cars and commercial vehicles. With stricter emissions standards, the automotive industry is shifting towards electrification, leading to a significant increase in demand for electric components, including steering motors. OEMs are integrating steering-mounted electronics and automobile dashboard-based systems, such as radio and music, cruise control, and climate control, into their vehicles, further boosting the market. However, the market has been impacted by various challenges, including lockdowns and travel bans due to the COVID-19 pandemic, which led to the closure of manufacturing plants and disruptions in logistics and raw material shipments. Key players in the market include Infineon Technologies, among others. The steering motor market caters to various business areas, including passenger cars and commercial vehicles, with hydraulic power steering gradually being replaced by Electric Power Steering (EPS) systems. CO2 emissions reduction targets are also driving the shift towards EPS systems, as they offer better fuel efficiency and lower emissions compared to hydraulic systems. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key developments is notably driving market growth. The market is witnessing significant growth due to the increasing focus of manufacturers on enhancing vehicle features such as radio and music systems, cruise control, climate control, call answering, and steering-assisted safety. To cater to these requirements, automotive steering motor manufacturers are investing heavily in research and development. For instance, Nexteer's MCEPS, a modular motor for electric power steering systems, offers cost-effectiveness and flexibility to Original Equipment Manufacturers (OEMs). Similarly, Nissan's new Rogue is equipped with JTEKT's Electric Power Steering System featuring a Gen2 in-house microcontroller unit, which maximizes the system's performance. These advancements in steering motor technology will drive the growth of the market during the forecast period.
Furthermore, the market is also influenced by various factors such as emission norms, luxury vehicles, steering wheel speed and position sensors, non-contact sensors, and the adoption of hybrid systems in vehicle production. Key manufacturers in the market include ZF, AKC, Schaeffler, and LeddarTech, among others. The market scope also includes steering columns, steering boxes, and tractor applications, as well as lightweight steering systems for motor vehicles, pickups, heavy-duty vehicles, and electric vehicles. Government policies and incentives are also impacting the market's growth trajectory. Thus, such factors are driving the growth of the market during the forecast period.
Continuous advances in automotive steering technology is the key trend in the market. The market has witnessed significant advancements, driven by the integration of electronics and safety technologies. With increasing focus on reducing vehicle emissions, automotive steering system manufacturers are investing in R&D to improve engine efficiency and ensure compliance with emission norms. The integration of safety features such as cruise control, climate control, call answering, and steering-assisted safety systems has become a priority. Non-contact sensors, like those provided by LeddarTech, are being increasingly used in position sensors for improved accuracy and reliability.
Furthermore, manufacturers of Electric Power Steering (EPS) systems, such as ZF, AKC, and Schaeffler, are leading the market with their innovative hybrid systems. The shift towards electric and hybrid vehicles (EVs) and the growing popularity of luxury vehicles are key factors driving market growth. Steering columns and boxes are being redesigned for lightweight steering, which not only reduces fuel consumption but also enhances profitability by lowering the powertrain and suspension costs. The market for automotive steering systems includes vehicles ranging from pickups and heavy-duty vehicles to tractors and automobiles, making it a diverse and dynamic industry. Policies and incentives from governments and automobile industries are further fueling the growth of this market. Thus, such trends will shape the growth of the market during the forecast period.
Increasing cost pressure from demand-side is the major challenge that affects the growth of the market. In the present automotive industry landscape, automotive component manufacturers encounter challenges in meeting quality standards and coping with cost pressures from the buyer's end. Consequently, stakeholders need to formulate growth strategies to ensure profitability in the market. Intense competition among Original Equipment Manufacturers (OEMs) and escalating consumer demand compel OEMs to operate within stringent cost constraints to maintain profitability. They are compelled to provide features at affordable prices, leading to cost pressures throughout the value chain, particularly for electronic components. Automotive electronics can be categorized into three main sectors: functional electronics, regulatory compliance electronics, and differentiating electronics.
Moreover, functional electronics, which encompass electric power steering (EPS) systems, experience the most significant cost pressure from OEMs. EPS systems are crucial components in modern automobiles, providing features such as radio and music, cruise control, climate control, call answering, and steering-assisted safety. Advanced systems like Active Steering (ASR) and Dynamic Steering (DSR) are increasingly being integrated into vehicles, particularly luxury models, to enhance the driving experience. The market for automotive steering motors is influenced by several factors, including vehicle production and sales, emission norms, and policies and incentives. Hybrid systems, electric vehicles (EVs), pickups, heavy-duty vehicles, and even tractors are adopting steering motor technology. Manufacturers of EPS, such as ZF, AKC, Schaeffler, and others, are investing in research and development to create more lightweight steering systems. Steering columns and steering boxes are being replaced with advanced steering systems to reduce weight and improve fuel efficiency. Non-contact sensors, such as those from LeddarTech, are being employed in steering systems to ensure precise position sensing and accurate action. The cost and profitability of powertrains and suspension systems are significantly influenced by the steering motor market. In conclusion, the market is a dynamic and evolving sector that plays a vital role in the development of modern motor vehicles. Despite the cost pressures, the market offers significant opportunities for growth and innovation. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AMK Holding GmbH and Co. KG - The company offers automotive steering motor with highly-integrated, automatically producible, permanently-excited synchronous machines.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the passenger car segment will be significant during the forecast period. The market is experiencing significant growth due to the increasing focus on emissions standards and automotive electrification. Electric Vehicles (EVs) and Electrical Power Steering (EPS) systems are becoming increasingly popular, replacing traditional hydraulic power steering in both the passenger car segment and commercial vehicles.
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The passenger car segment showed a gradual increase in the market share of USD 1.05 billion in 2018. OEMs are integrating electric components, including motors and vehicle control units, into their designs to meet CO2 emissions targets and enhance fuel economy. Infineon Technologies and other key players are constructing operational plants to meet the rising demand for steering motor technology. However, lockdowns and travel bans have disrupted manufacturing plants and logistics, causing delays in the production of vehicles and raw material shipments. Steeringmounted electronics, such as torque sensors and ECUs, are essential for advanced driver-assistance systems (ADAS), including parallel parking, lanekeeping assist, highway assist, and autonomous mobility. Connected cars also require failsafe mechanisms and steering wheel feedback for optimal safety and steering feel. The dualpinion segment of the steering market is expected to grow significantly due to its ability to provide both hydraulic and electric power assistance. Overall, the market is poised for continued expansion as the industry embraces electrification and advanced technologies.
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APAC is estimated to contribute 57% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market is experiencing significant growth due to the increasing trend of automotive electrification and the need to comply with emissions standards. Electric Vehicles (EVs) and Electrically Assisted Steering (EAS) systems, which use electrical components such as motors and torque sensors, are becoming increasingly popular in both the passenger car segment and commercial vehicles. OEMs are integrating advanced driver-assistance systems (ADAS) like parallel parking, Lanekeeping assist, and Highway assist into their vehicles, which require precise steering control. Infineon Technologies and other key players are focusing on the development of failsafe mechanisms for steering systems to ensure vehicle safety. The construction and mining equipment industries are also adopting electric steering systems to improve fuel economy and steering feel. The steering market has been impacted by lockdowns, travel bans, and logistical challenges, affecting the production of vehicles and the shipment of raw materials to operational plants. Steering-mounted electronics and automobile dashboard-based systems are also gaining popularity in connected cars, further driving market growth.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
Automotive Steering Gearbox Market: Automotive Steering Gearbox Market Analysis APAC, Europe, North America, South America, Middle East and Africa - US, China, Japan, Germany, France - Size and Forecast
Automotive Steering Torque Sensor Market: Automotive Steering Torque Sensor Market Analysis APAC, Europe, North America, South America, Middle East and Africa - US, China, Japan, India, Germany - Size and Forecast
Electric Power Steering Market: Electric Power Steering Market Analysis APAC, Europe, North America, South America, Middle East and Africa - US, China, Japan, South Korea, Germany - Size and Forecast
The market is witnessing significant growth due to the increasing adoption of Electric Vehicles (EVs) and automotive electrification. Emissions standards are driving the shift towards Electrically Assisted Power Steering (EAPS) systems, which use electric components, including motors and vehicle control units, instead of hydraulic power steering. OEMs are focusing on the passenger car segment for the implementation of these systems to improve fuel economy and steering feel. Infineon Technologies and other key players are investing in the development of advanced steering systems for ADAS features such as parallel parking, lanekeeping assist, and highway assist.
Furthermore, the market is also witnessing the integration of steering-mounted electronics and automobile dashboard-based systems in autonomous mobility and connected cars. However, the market is facing challenges due to lockdowns, manufacturing plant closures, travel bans, and logistics disruptions. The production of vehicles and raw material shipments have been affected, leading to operational plants' operational issues. The market is also focusing on failsafe mechanisms and the integration of torque sensors, ECUs, and dual-pinion segments to enhance safety and performance. Overall, the market is expected to continue its growth trajectory, driven by the demand for advanced steering systems in the automotive industry.
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Market Scope |
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Report Coverage |
Details |
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Page number |
149 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
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Market growth 2024-2028 |
USD 456.2 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.23 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 57% |
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Key countries |
China, US, Japan, Germany, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Allied Motion Technologies Inc., AMK Holding GmbH and Co. KG, BorgWarner Inc., Brose Fahrzeugteile SE and Co. KG, DENSO Corp., Hitachi Ltd., HL Mando Co. Ltd., Hyundai Motor Group, Johnson Electric Holdings Ltd., LG Innotek Co. Ltd., MAHLE GmbH, Melrose Industries Plc, Mitsuba Corp., Nexteer Automotive Group Ltd., Nidec Corp., NSK Ltd., Robert Bosch GmbH, thyssenkrupp AG, Toyota Motor Corp., and ZF Friedrichshafen AG |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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