Europe Electric Power Steering Industry Strategic Roadmap: Analysis and Forecasts 2025-2033

Key Insights

The European electric power steering (EPS) market is experiencing robust growth, driven by the increasing adoption of advanced driver-assistance systems (ADAS) and the stringent fuel efficiency regulations across the region. The market, currently estimated at €[Estimate based on market size XX and value unit Million. For example, if XX is 1000, the current market size would be €1000 million], is projected to witness a Compound Annual Growth Rate (CAGR) of 3.90% from 2025 to 2033. This growth is fueled by the rising demand for passenger cars and light commercial vehicles (LCVs), coupled with the increasing integration of EPS in heavy vehicles for improved maneuverability and fuel economy. Key segments within the market include column type, pinion type, and dual pinion type EPS systems. The steering wheel/column component segment dominates, followed by sensors and steering motors. Germany, France, and the UK represent significant national markets within Europe, benefiting from established automotive manufacturing hubs and strong consumer demand for technologically advanced vehicles. Competitive dynamics are characterized by the presence of established global players such as JTEKT, Hyundai Mobis, and Bosch, alongside several other significant regional and specialized component suppliers. This competitive landscape fosters continuous innovation and price optimization, contributing to the overall market expansion.

The market's growth is further bolstered by trends such as the increasing demand for electric and hybrid vehicles, which inherently require EPS systems. Technological advancements in EPS, such as the integration of haptic feedback and advanced control algorithms for improved driver experience and safety, are also key drivers. However, challenges such as high initial investment costs for advanced EPS systems and potential supply chain disruptions might act as temporary restraints on market growth. Nevertheless, the long-term outlook for the European EPS market remains positive, promising substantial growth opportunities for manufacturers and suppliers alike throughout the forecast period, driven primarily by the ongoing transition towards automated driving functionalities and stringent emission regulations within the EU. The market is expected to reach approximately €[Estimate based on CAGR and 2025 value. For example, if 2025 value is €1000 million and CAGR is 3.9% over 8 years, then the 2033 value can be calculated] by 2033.

Europe Electric Power Steering Industry Market Report: 2019-2033

This comprehensive report provides a detailed analysis of the Europe Electric Power Steering industry, offering invaluable insights for stakeholders seeking to navigate this rapidly evolving market. The report covers the period 2019-2033, with a focus on the 2025-2033 forecast period. Key market segments, leading players, and future growth opportunities are thoroughly examined. Download now to gain a competitive edge.

Europe Electric Power Steering Industry Market Dynamics & Concentration

The European electric power steering (EPS) market is experiencing significant growth, driven by increasing demand for fuel-efficient vehicles and advancements in autonomous driving technologies. Market concentration is moderate, with several major players holding substantial market share, but a competitive landscape characterized by innovation and strategic partnerships.

Market Concentration: The market is characterized by a mix of global giants and specialized regional players. The top 10 companies account for approximately xx% of the market share in 2025, indicating a moderately concentrated market. However, several smaller, specialized companies also play a significant role in niche segments.

Innovation Drivers: The primary drivers of innovation include the development of more efficient and integrated EPS systems, the integration of advanced driver-assistance systems (ADAS), and the increasing demand for electric and hybrid vehicles.

Regulatory Frameworks: Stringent emission regulations in Europe are pushing automakers to adopt EPS systems, as they contribute to improved fuel efficiency. Safety regulations also play a vital role in shaping the market.

Product Substitutes: While traditional hydraulic power steering systems still exist, their market share is declining rapidly due to the advantages of EPS.

End-User Trends: The growing preference for enhanced driving comfort, fuel efficiency, and safety features in passenger cars and LCVs is a key driver of EPS adoption. Moreover, the emerging demand for autonomous driving technologies further accelerates the market.

M&A Activities: The number of mergers and acquisitions (M&A) in the EPS sector has increased steadily in recent years, as larger companies seek to expand their product portfolios and gain access to new technologies. An estimated xx M&A deals were recorded in the period 2019-2024.

Europe Electric Power Steering Industry Industry Trends & Analysis

The European EPS market demonstrates robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of xx% during the historical period (2019-2024) and a projected CAGR of xx% during the forecast period (2025-2033). This growth is driven by several factors, including the increasing adoption of electric and hybrid vehicles, stricter emission regulations, advancements in autonomous driving technologies, and the rising demand for enhanced safety and fuel efficiency. Market penetration of EPS in passenger cars has increased from xx% in 2019 to xx% in 2024, and it's projected to reach xx% by 2033. Technological disruptions, such as the development of highly integrated EPS systems with ADAS functionalities, further fuel market expansion. Consumer preferences are shifting towards vehicles offering improved driver assistance and comfort features, making EPS an indispensable component. Competitive dynamics are intense, with companies investing heavily in R&D to develop innovative products and gain a competitive edge.

Leading Markets & Segments in Europe Electric Power Steering Industry

Germany and France are the leading markets within Europe, driven by strong automotive industries and significant investments in electric vehicle infrastructure. The Passenger Cars segment dominates the market, followed by LCVs. Growth in the Heavy Vehicles segment is also noteworthy, spurred by the increasing adoption of electric trucks and buses.

Key Drivers by Segment:

• By Type: The Column Type segment currently holds the largest market share due to its cost-effectiveness and suitability for various vehicle types. However, the Dual Pinion Type segment is witnessing the highest growth due to its advanced features and superior performance.
• By Component Type: The Steering Motor segment is the largest, followed by Sensors and Steering Wheel/Column.
• By Vehicle Type: Passenger Cars remain the largest segment, with continued strong demand driving growth. However, the LCV and Heavy Vehicle segments show promising growth potential due to the increasing adoption of electrification.

Dominance Analysis: Germany's dominance stems from the presence of major automotive manufacturers and a strong supplier base. France's strong position is due to governmental support for electric vehicles and a growing demand for advanced driving assistance systems.

Europe Electric Power Steering Industry Product Developments

Recent product innovations focus on enhancing integration with ADAS, improving energy efficiency, and reducing system size and weight. Companies are developing advanced EPS systems that offer better responsiveness, improved feedback, and enhanced safety features. This focus on integration and enhanced performance ensures better market fit and competitive advantage. The introduction of new materials and manufacturing processes also contributes to improvements in cost-effectiveness and performance.

Key Drivers of Europe Electric Power Steering Industry Growth

Several factors are driving the growth of the European EPS market, including:

• Stringent Emission Regulations: Regulations aimed at reducing vehicle emissions are compelling automakers to adopt fuel-efficient EPS systems.
• Advancements in ADAS: The integration of EPS with ADAS features further boosts market demand.
• Rising Demand for Electric and Hybrid Vehicles: The growing popularity of EVs and HEVs necessitates the use of EPS.
• Improved Fuel Efficiency: EPS enhances fuel economy compared to hydraulic systems.

Challenges in the Europe Electric Power Steering Industry Market

The European EPS market faces several challenges:

• High Initial Investment Costs: The upfront investment required for EPS system adoption can be substantial for some automakers.
• Supply Chain Disruptions: Global supply chain disruptions and material shortages can impact production and profitability.
• Intense Competition: The market is characterized by intense competition among established players and new entrants.

Emerging Opportunities in Europe Electric Power Steering Industry

The long-term growth of the European EPS market is fueled by opportunities in several areas:

• Autonomous Driving Technologies: The increasing development of autonomous vehicles creates significant opportunities for advanced EPS systems.
• Strategic Partnerships and Collaborations: Strategic alliances between EPS manufacturers and automotive companies can foster innovation and market expansion.
• Expansion into New Markets: Exploring new market segments, such as heavy vehicles and commercial fleets, presents significant growth potential.

Leading Players in the Europe Electric Power Steering Industry Sector

• 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 Milestones in Europe Electric Power Steering Industry Industry

• September 2022: Knorr-Bremse AG showcased its all-electric EPS steering system at IAA Transportation, highlighting advancements in traffic safety technology.
• May 2023: Infineon Technologies AG introduced the OptiMOS 7 40V MOSFET family, enhancing power MOSFET capabilities for automotive applications, including EPS.
• May 2023: ZF Friedrichshafen AG unveiled its AxTrax 2 electric axle platform, incorporating EPS fully electric steering, signaling advancements in commercial vehicle electrification.
• June 2023: Bosch showcased its electric power steering systems at the Shanghai International Carbon Neutrality Expo 2023, demonstrating commitment to sustainable mobility solutions.

Strategic Outlook for Europe Electric Power Steering Industry Market

The European EPS market is poised for sustained growth, driven by ongoing technological advancements, stringent environmental regulations, and the expanding adoption of electric and autonomous vehicles. Strategic opportunities lie in developing highly integrated EPS systems with advanced ADAS capabilities, focusing on cost reduction through innovative manufacturing processes, and exploring new market segments like commercial vehicles and off-highway equipment. Companies that prioritize innovation, strategic partnerships, and efficient supply chain management are best positioned to capitalize on the market's significant growth potential.

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