Electric Power Steering Sensor Market: By Product Type, By Vehicle Type, By Distribution Channel and Region Forecast 2019-2030
Electric Power Steering Sensor Market: By Product Type, By Vehicle Type, By Distribution Channel and Region Forecast 2019-2030
Electric Power Steering (EPS) Sensor Market size was valued at US$ 16.2 billion in 2023 and is expected to grow at a CAGR of 7.3% over 2024-2030. The Electric Power Steering (EPS) sensors are appropriate for light commercial electric vehicles along with midsize, compact, and sports cars. It is a vital technology for fully independent driving enjoyment. The steering of the automobile is handled by an electric motor within the EPS. The EPS handles and supports vehicle steering with the usage of an electric motor, presenting the driver with a sustaining and perfect steering experience. The latest generation of control units also provides security in case of an accident. Electric power steering (EPS) utilizes an electric motor to support the driver in steering the car which outcomes in decreased stress on the engine and improves fuel efficiency which can lead to growth.
Moreover, the steep rise in fuel prices and demand for fuel-efficient cars are some primary factors that can boost the global market. Apart from these, the electric power steering sensor screens the behavior of the driver based on speed, steering movement, tire movement, and road condition which helps in avoiding accidents on roads and can also accelerate the market in the future. However, some factors such as the electric motor which is attached to the steering column may lead to electric power steering failure due to extreme heat and penetration of dirt, water, or any pollutants in the system can cause circuit failure or inappropriate functioning of moving parts can restrain the growth of the market. Electric power-assisted system (EPAS) invention in electric power steering (EPS) sensor can create an opportunity.
Study Period
2024-2030Base Year
2023CAGR
7.3%Largest Market
North-AmericaFastest Growing Market
Asia-Pacific
One of the major reasons for the global electric power steering (EPS) sensor market growth is decreased stress on the engine and growth in fuel efficiency due to electric power steering (EPS) sensor. The Electric Power Steering (EPS) used in cars has components like a motor, steering column, and sensor. In contrast to Hydraulic Power Steering (HPS), the EPS utilizes electric motor to support the driver to steer the car rather than drawing power from the engine to start the hydraulic system in order to steer the car. Hence, it decreases the stress on engine, rises the fuel efficacy of the engine.
Asia Pacific is dominating the global electric power steering (EPS) sensor market, due to the increasing penetration of EPS systems in its automobiles and the existence of leading producers. Japan has the presence of many other leading producers of steering systems, like NSK, and Mitsubishi Electric. Moreover, the increasing growth of automobile production has also been attributed to the growth of the market. The Asia Pacific market includes China, India, South Korea, and Japan.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 16.2 billion |
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Market CAGR |
7.3% |
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By Product Type |
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By Vehicle Type |
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By Distribution Channel |
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By Region |
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The electric power steering sensor market size was valued at US$ 16.2 billion in 2023 and is poised to grow at a CAGR of 7.3% from 2024-2030.
The key segments covered in the restless leg’s syndrome market are technology, components, application, and end-users.
The electric power steering (EPS) sensor market key players are Robert Bosch GmbH, HELLA GmbH & Co. KgaA, DENSO Corporation, Valeo, Continental AG, Infineon Technologies AG, Sensata Technologies, TT Electronics, NXP Semiconductors, Asahi Kasei Corporation
| 1.Executive Summary |
| 2.Global Electric Power Steering (EPS) Sensor Market Introduction |
| 2.1.Global Electric Power Steering (EPS) Sensor Market - Taxonomy |
| 2.2.Global Electric Power Steering (EPS) Sensor Market - Definitions |
| 2.2.1.Product Type |
| 2.2.2.Vehicle Type |
| 2.2.3.Distribution Channel |
| 2.2.4.Region |
| 3.Global Electric Power Steering (EPS) Sensor Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Electric Power Steering (EPS) Sensor Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Electric Power Steering (EPS) Sensor Market By Product Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Speed Sensor |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Steering Torque Sensor |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Steering Wheel Position Sensor |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6.Global Electric Power Steering (EPS) Sensor Market By Vehicle Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Passenger Vehicle |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Commercial Vehicle |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 7.Global Electric Power Steering (EPS) Sensor Market By Distribution Channel, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. OEM |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Aftermarket |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 8.Global Electric Power Steering (EPS) Sensor Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Electric Power Steering (EPS) Sensor Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Speed Sensor |
| 9.1.2.Steering Torque Sensor |
| 9.1.3.Steering Wheel Position Sensor |
| 9.2. Vehicle Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Passenger Vehicle |
| 9.2.2.Commercial Vehicle |
| 9.3. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.OEM |
| 9.3.2.Aftermarket |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Electric Power Steering (EPS) Sensor Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Speed Sensor |
| 10.1.2.Steering Torque Sensor |
| 10.1.3.Steering Wheel Position Sensor |
| 10.2. Vehicle Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Passenger Vehicle |
| 10.2.2.Commercial Vehicle |
| 10.3. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.OEM |
| 10.3.2.Aftermarket |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 10.4.6.Rest of EU |
| 11.Asia Pacific (APAC) Electric Power Steering (EPS) Sensor Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Speed Sensor |
| 11.1.2.Steering Torque Sensor |
| 11.1.3.Steering Wheel Position Sensor |
| 11.2. Vehicle Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Passenger Vehicle |
| 11.2.2.Commercial Vehicle |
| 11.3. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.OEM |
| 11.3.2.Aftermarket |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Electric Power Steering (EPS) Sensor Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Speed Sensor |
| 12.1.2.Steering Torque Sensor |
| 12.1.3.Steering Wheel Position Sensor |
| 12.2. Vehicle Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Passenger Vehicle |
| 12.2.2.Commercial Vehicle |
| 12.3. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.OEM |
| 12.3.2.Aftermarket |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Electric Power Steering (EPS) Sensor Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Speed Sensor |
| 13.1.2.Steering Torque Sensor |
| 13.1.3.Steering Wheel Position Sensor |
| 13.2. Vehicle Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Passenger Vehicle |
| 13.2.2.Commercial Vehicle |
| 13.3. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.OEM |
| 13.3.2.Aftermarket |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.Robert Bosch GmbH |
| 14.2.2.HELLA GmbH & Co. KgaA |
| 14.2.3.DENSO Corporation |
| 14.2.4.Valeo |
| 14.2.5.Continental AG |
| 14.2.6.Infineon Technologies AG |
| 14.2.7.Sensata Technologies |
| 14.2.8.TT Electronics |
| 14.2.9.NXP Semiconductors |
| 14.2.10.Asahi Kasei Corporation |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
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