North America Electronic Power Steering Market Size and Competitive Analysis by 2027

Historic Data: 2017-2018 | Base Year: 2019 | Forecast Period: 2020-2027

North America Electronic Power Steering Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type (Column Assisted Electronic Power Steering(C-EPS), Pinion Assisted Electronic Power Steering (P-EPS), Rack Assisted Power Steering System (R-EPS), and Electronic Hydraulic Power Steering (EHPS)), and Application (Light Commercial Vehicles (LCV), Passenger Cars, and Heavy Commercial Vehicles (HCV))

Report Date : Jan 2021
Report Code : TIPRE00018169

Category : Automotive and Transportation
Status : Published

Available Report Formats :
No. of Pages : 122

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The electronic power steering market in North America is expected to grow from US$ 9,777.38 million in 2019 to US$ 9,580.34 million by 2027; it is estimated to grow at a CAGR of 2.8% from 2020 to 2027.

The US, Canada, and Mexico are major economies in North America. Rising need of fuel-efficient vehicles in North America is driving the North America electronic power steering market in a positive way. Growing demand for electronically assisted steering systems in vehicles, owing to the strict guideline announced by the governments for fuel efficiency is one of the major drivers for the market. Furthermore, growing production of vehicles as well as increasing preference for smooth driving experience and high comfort is boosting the demand for electronic steering systems across North America. Presently, the majority of light-duty vehicles are well equipped with gasoline-powered spark-ignition-engine powertrains, which tends to have higher fuel consumption. The diesel engines consume 10–20% less fuel as they have more efficient engine operations, whereas hybrid vehicles powered with the help of gasoline and have lower fuel consumption. The hybrid vehicle engine operates to its peak efficiency as well as accommodates an amount of energy from regenerative braking. The electric vehicles (EV) have the lowest energy consumption as they operate through battery that uses intrinsically higher efficiency of electric motors as compared with internal combustion engines. Therefore, growing implementation of standards by governments and mounting requirement of fuel-efficient vehicles is one of the significant factors driving the North America electronic power steering (EPS) market.

Further, the ongoing COVID-19 pandemic is having a very devastating impact on the countries across North America, especially, the US. The US is one of the largest markets for electronic power steering. The continuous growth in the COVID-19 confirmed cases has led the government to impose lockdown across the nation’s borders. Majority of the manufacturing plants are shut down, municipalities are functioning slowly as compared to past, and the automotive and semiconductor industries are at a halt, which is hindering the North America electronic power steering market. In terms of patient count and death toll, Canada and Mexico are still at a nascent stage than the US. The short-term effect of the pandemic would not affect the recovery of overall sales in the automotive industry in 2021, this is mainly because of the continued promotion of passenger vehicles by various companies in the region.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America electronic power steering market. The North America electronic power steering market is expected to grow at a good CAGR during the forecast period.

This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

North America Electronic power steering Market Segmentation

North America Electronic power steering Market – By Type

Column Assisted Electronic Power Steering(C-EPS)
Pinion Assisted Electronic Power Steering (P-EPS)
Rack Assisted Power Steering System (R-EPS)
Electronic Hydraulic Power Steering (EHPS)

North America Electronic power steering Market – By Application

Light Commercial Vehicles (LCV)
Passenger Cars
Heavy Commercial Vehicles (HCV)

North America Electronic power steering Market, by Country

US
Canada
Mexico

North America Electronic power steering Market - Companies Mentioned

HYUNDAI MOBIS
JTEKT Corporation
Mando Corporation
Mitsubishi Electric Corporation
Nexteer Automotive
NSK Ltd.
Robert Bosch GmbH
SHOWA CORPORATION
thyssenkrupp AG
ZF Friedrichshafen AG

North America Electronic Power Steering Report Scope

Report Attribute	Details
Market size in 2019	US$ 9,777.38 Million
Market Size by 2027	US$ 9,580.34 Million
Global CAGR (2020 - 2027)	2.8%
Historical Data	2017-2018
Forecast period	2020-2027
Segments Covered	By Type Column Assisted Electronic Power Steering Pinion Assisted Electronic Power Steering Rack Assisted Power Steering System Electronic Hydraulic Power Steering By Application Light Commercial Vehicles. Passenger Cars Heavy Commercial Vehicles
Regions and Countries Covered	North America US Canada Mexico
Market leaders and key company profiles	HYUNDAI MOBIS JTEKT Corporation Mando Corporation Mitsubishi Electric Corporation Nexteer Automotive NSK Ltd. Robert Bosch GmbH SHOWA CORPORATION thyssenkrupp AG

Research Manager

Naveen Chittaragi

Associate Vice President,
Market Research & Consulting

Naveen is an experienced market research and consulting professional with over 9 years of expertise across custom, syndicated, and consulting projects. Currently serving as Associate Vice President, he has successfully managed stakeholders across the project value chain and has authored over 100 research reports and 30+ consulting assignments. His work spans across industrial and government projects, contributing significantly to client success and data-driven decision-making.

Naveen holds an Engineering degree in Electronics & Communication from VTU, Karnataka, and an MBA in Marketing & Operations from Manipal University. He has been an active IEEE member for 9 years, participating in conferences, technical symposiums, and volunteering at both section and regional levels. Prior to his current role, he worked as an Associate Strategic Consultant at IndustryARC and as an Industrial Server Consultant at Hewlett Packard (HP Global).

What are the North America Electronic Power Steering Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

North America Electronic Power Steering Market Report Snapshots

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