The Latin America, Middle East and Africa Automotive Electric Power Steering Market would witness market growth of 7.5% CAGR during the forecast period (2023-2030).
The electric power steering (EPS) system assists the driver in steering the vehicle with ease. The system employs an electric motor affixed to the steering rack or column. Motor-mounted sensors assess the driver's torque or rotational effort to the steering wheel. The information gathered by the sensors is used to determine how much steering assistance the front axles require from the driver. The vehicle's speed is the most important factor when assessing the output provided by EPS. Electric power steering (EPS) increases vehicle safety while improving handling and steering control by applying torque to vehicle speed and supplying active torque in hazardous driving situations.
OEMs are integrating advanced sensors into the EPS to enhance the vehicle's overall performance and safety. Using multiple steering sensors in electric power steering (EPS) contributes to the driver's enhanced protection. In addition, the government's adoption of stringent fuel efficiency standards and international safety measures are viewed as significant catalysts for the growth and advancement of advanced steering systems (like EPS) that employ steering sensors extensively.
The UAE’s commercial vehicle industry will continue to grow due to the massive infrastructural and planned housing projects. In contrast to heavy retail vehicle sales, which will continue to be bolstered by substantial infrastructure and other development projects, light commercial vehicle sales should continue to soar due to more excellent businesses and investments linked to growing migration from nearby nations. Additionally, the demand for buses and minibuses will continue to rise favorably to meet the needs of the UAE’s expanding tourism and hospitality industries and the increasing need for use by construction workers. With the burgeoning demand for automobiles, the need for electric power steering would also rise, resulting in market growth.
The Brazil market dominated the LAMEA Automotive Electric Power Steering Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $593.4 million by 2030. The Argentina market is showcasing a CAGR of 8.1% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 7.2% during (2023 - 2030).
Based on Propulsion Type, the market is segmented into ICE and Electric. Based on Component, the market is segmented into Steering Column, Electric Control Unit, Electric Motor, Rack & Pinion and Others. Based on Vehicle Type, the market is segmented into Passenger Cars and Commercial Vehicles. Based on Type, the market is segmented into Column Electric Power Steering, Rack Electric Power Steering and Pinion Electric Power Steering. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Automotive Electric Power Steering Market is Projected to reach USD 35.6 Billion by 2030, at a CAGR of 5.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include NSK Ltd., Robert Bosch GmbH, HL Mando Corporation, Hitachi, Ltd., JTEKT Corporation, ZF Friedrichshafen AG, Thyssenkrupp AG, BBB Industries (Clearlake Capital Group, L.P.), Nexteer Automotive (Pacific Century Motors) and Zhejiang Shibao Co., Ltd.
Scope of the Study
Market Segments Covered in the Report:
By Propulsion Type
By Component
- Steering Column
- Electric Control Unit
- Electric Motor
- Rack & Pinion
- Others
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
By Type
- Column Electric Power Steering
- Rack Electric Power Steering
- Pinion Electric Power Steering
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- NSK Ltd.
- Robert Bosch GmbH
- HL Mando Corporation
- Hitachi, Ltd.
- JTEKT Corporation
- ZF Friedrichshafen AG
- Thyssenkrupp AG
- BBB Industries (Clearlake Capital Group, L.P.)
- Nexteer Automotive (Pacific Century Motors)
- Zhejiang Shibao Co., Ltd.
TABLE 1 LAMEA Automotive Electric Power Steering Market, 2019 - 2022, USD Million
TABLE 2 LAMEA Automotive Electric Power Steering Market, 2023 - 2030, USD Million
TABLE 3 LAMEA Automotive Electric Power Steering Market by Propulsion Type, 2019 - 2022, USD Million
TABLE 4 LAMEA Automotive Electric Power Steering Market by Propulsion Type, 2023 - 2030, USD Million
TABLE 5 LAMEA ICE Market by Country, 2019 - 2022, USD Million
TABLE 6 LAMEA ICE Market by Country, 2023 - 2030, USD Million
TABLE 7 LAMEA Electric Market by Country, 2019 - 2022, USD Million
TABLE 8 LAMEA Electric Market by Country, 2023 - 2030, USD Million
TABLE 9 LAMEA Automotive Electric Power Steering Market by Component, 2019 - 2022, USD Million
TABLE 10 LAMEA Automotive Electric Power Steering Market by Component, 2023 - 2030, USD Million
TABLE 11 LAMEA Steering Column Market by Country, 2019 - 2022, USD Million
TABLE 12 LAMEA Steering Column Market by Country, 2023 - 2030, USD Million
TABLE 13 LAMEA Electric Control Unit Market by Country, 2019 - 2022, USD Million
TABLE 14 LAMEA Electric Control Unit Market by Country, 2023 - 2030, USD Million
TABLE 15 LAMEA Electric Motor Market by Country, 2019 - 2022, USD Million
TABLE 16 LAMEA Electric Motor Market by Country, 2023 - 2030, USD Million
TABLE 17 LAMEA Rack & Pinion Market by Country, 2019 - 2022, USD Million
TABLE 18 LAMEA Rack & Pinion Market by Country, 2023 - 2030, USD Million
TABLE 19 LAMEA Others Market by Country, 2019 - 2022, USD Million
TABLE 20 LAMEA Others Market by Country, 2023 - 2030, USD Million
TABLE 21 LAMEA Automotive Electric Power Steering Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 22 LAMEA Automotive Electric Power Steering Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 23 LAMEA Passenger Cars Market by Country, 2019 - 2022, USD Million
TABLE 24 LAMEA Passenger Cars Market by Country, 2023 - 2030, USD Million
TABLE 25 LAMEA Commercial Vehicles Market by Country, 2019 - 2022, USD Million
TABLE 26 LAMEA Commercial Vehicles Market by Country, 2023 - 2030, USD Million
TABLE 27 LAMEA Automotive Electric Power Steering Market by Type, 2019 - 2022, USD Million
TABLE 28 LAMEA Automotive Electric Power Steering Market by Type, 2023 - 2030, USD Million
TABLE 29 LAMEA Column Electric Power Steering Market by Country, 2019 - 2022, USD Million
TABLE 30 LAMEA Column Electric Power Steering Market by Country, 2023 - 2030, USD Million
TABLE 31 LAMEA Rack Electric Power Steering Market by Country, 2019 - 2022, USD Million
TABLE 32 LAMEA Rack Electric Power Steering Market by Country, 2023 - 2030, USD Million
TABLE 33 LAMEA Pinion Electric Power Steering Market by Country, 2019 - 2022, USD Million
TABLE 34 LAMEA Pinion Electric Power Steering Market by Country, 2023 - 2030, USD Million
TABLE 35 LAMEA Automotive Electric Power Steering Market by Country, 2019 - 2022, USD Million
TABLE 36 LAMEA Automotive Electric Power Steering Market by Country, 2023 - 2030, USD Million
TABLE 37 Brazil Automotive Electric Power Steering Market, 2019 - 2022, USD Million
TABLE 38 Brazil Automotive Electric Power Steering Market, 2023 - 2030, USD Million
TABLE 39 Brazil Automotive Electric Power Steering Market by Propulsion Type, 2019 - 2022, USD Million
TABLE 40 Brazil Automotive Electric Power Steering Market by Propulsion Type, 2023 - 2030, USD Million
TABLE 41 Brazil Automotive Electric Power Steering Market by Component, 2019 - 2022, USD Million
TABLE 42 Brazil Automotive Electric Power Steering Market by Component, 2023 - 2030, USD Million
TABLE 43 Brazil Automotive Electric Power Steering Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 44 Brazil Automotive Electric Power Steering Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 45 Brazil Automotive Electric Power Steering Market by Type, 2019 - 2022, USD Million
TABLE 46 Brazil Automotive Electric Power Steering Market by Type, 2023 - 2030, USD Million
TABLE 47 Argentina Automotive Electric Power Steering Market, 2019 - 2022, USD Million
TABLE 48 Argentina Automotive Electric Power Steering Market, 2023 - 2030, USD Million
TABLE 49 Argentina Automotive Electric Power Steering Market by Propulsion Type, 2019 - 2022, USD Million
TABLE 50 Argentina Automotive Electric Power Steering Market by Propulsion Type, 2023 - 2030, USD Million
TABLE 51 Argentina Automotive Electric Power Steering Market by Component, 2019 - 2022, USD Million
TABLE 52 Argentina Automotive Electric Power Steering Market by Component, 2023 - 2030, USD Million
TABLE 53 Argentina Automotive Electric Power Steering Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 54 Argentina Automotive Electric Power Steering Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 55 Argentina Automotive Electric Power Steering Market by Type, 2019 - 2022, USD Million
TABLE 56 Argentina Automotive Electric Power Steering Market by Type, 2023 - 2030, USD Million
TABLE 57 UAE Automotive Electric Power Steering Market, 2019 - 2022, USD Million
TABLE 58 UAE Automotive Electric Power Steering Market, 2023 - 2030, USD Million
TABLE 59 UAE Automotive Electric Power Steering Market by Propulsion Type, 2019 - 2022, USD Million
TABLE 60 UAE Automotive Electric Power Steering Market by Propulsion Type, 2023 - 2030, USD Million
TABLE 61 UAE Automotive Electric Power Steering Market by Component, 2019 - 2022, USD Million
TABLE 62 UAE Automotive Electric Power Steering Market by Component, 2023 - 2030, USD Million
TABLE 63 UAE Automotive Electric Power Steering Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 64 UAE Automotive Electric Power Steering Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 65 UAE Automotive Electric Power Steering Market by Type, 2019 - 2022, USD Million
TABLE 66 UAE Automotive Electric Power Steering Market by Type, 2023 - 2030, USD Million
TABLE 67 Saudi Arabia Automotive Electric Power Steering Market, 2019 - 2022, USD Million
TABLE 68 Saudi Arabia Automotive Electric Power Steering Market, 2023 - 2030, USD Million
TABLE 69 Saudi Arabia Automotive Electric Power Steering Market by Propulsion Type, 2019 - 2022, USD Million
TABLE 70 Saudi Arabia Automotive Electric Power Steering Market by Propulsion Type, 2023 - 2030, USD Million
TABLE 71 Saudi Arabia Automotive Electric Power Steering Market by Component, 2019 - 2022, USD Million
TABLE 72 Saudi Arabia Automotive Electric Power Steering Market by Component, 2023 - 2030, USD Million
TABLE 73 Saudi Arabia Automotive Electric Power Steering Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 74 Saudi Arabia Automotive Electric Power Steering Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 75 Saudi Arabia Automotive Electric Power Steering Market by Type, 2019 - 2022, USD Million
TABLE 76 Saudi Arabia Automotive Electric Power Steering Market by Type, 2023 - 2030, USD Million
TABLE 77 South Africa Automotive Electric Power Steering Market, 2019 - 2022, USD Million
TABLE 78 South Africa Automotive Electric Power Steering Market, 2023 - 2030, USD Million
TABLE 79 South Africa Automotive Electric Power Steering Market by Propulsion Type, 2019 - 2022, USD Million
TABLE 80 South Africa Automotive Electric Power Steering Market by Propulsion Type, 2023 - 2030, USD Million
TABLE 81 South Africa Automotive Electric Power Steering Market by Component, 2019 - 2022, USD Million
TABLE 82 South Africa Automotive Electric Power Steering Market by Component, 2023 - 2030, USD Million
TABLE 83 South Africa Automotive Electric Power Steering Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 84 South Africa Automotive Electric Power Steering Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 85 South Africa Automotive Electric Power Steering Market by Type, 2019 - 2022, USD Million
TABLE 86 South Africa Automotive Electric Power Steering Market by Type, 2023 - 2030, USD Million
TABLE 87 Nigeria Automotive Electric Power Steering Market, 2019 - 2022, USD Million
TABLE 88 Nigeria Automotive Electric Power Steering Market, 2023 - 2030, USD Million
TABLE 89 Nigeria Automotive Electric Power Steering Market by Propulsion Type, 2019 - 2022, USD Million
TABLE 90 Nigeria Automotive Electric Power Steering Market by Propulsion Type, 2023 - 2030, USD Million
TABLE 91 Nigeria Automotive Electric Power Steering Market by Component, 2019 - 2022, USD Million
TABLE 92 Nigeria Automotive Electric Power Steering Market by Component, 2023 - 2030, USD Million
TABLE 93 Nigeria Automotive Electric Power Steering Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 94 Nigeria Automotive Electric Power Steering Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 95 Nigeria Automotive Electric Power Steering Market by Type, 2019 - 2022, USD Million
TABLE 96 Nigeria Automotive Electric Power Steering Market by Type, 2023 - 2030, USD Million
TABLE 97 Rest of LAMEA Automotive Electric Power Steering Market, 2019 - 2022, USD Million
TABLE 98 Rest of LAMEA Automotive Electric Power Steering Market, 2023 - 2030, USD Million
TABLE 99 Rest of LAMEA Automotive Electric Power Steering Market by Propulsion Type, 2019 - 2022, USD Million
TABLE 100 Rest of LAMEA Automotive Electric Power Steering Market by Propulsion Type, 2023 - 2030, USD Million
TABLE 101 Rest of LAMEA Automotive Electric Power Steering Market by Component, 2019 - 2022, USD Million
TABLE 102 Rest of LAMEA Automotive Electric Power Steering Market by Component, 2023 - 2030, USD Million
TABLE 103 Rest of LAMEA Automotive Electric Power Steering Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 104 Rest of LAMEA Automotive Electric Power Steering Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 105 Rest of LAMEA Automotive Electric Power Steering Market by Type, 2019 - 2022, USD Million
TABLE 106 Rest of LAMEA Automotive Electric Power Steering Market by Type, 2023 - 2030, USD Million
TABLE 107 Key Information – Nsk ltd.
TABLE 108 Key Information – Robert Bosch GmbH
TABLE 109 Key Information – HL Mando Corporation
TABLE 110 Key Information – Hitachi, Ltd.
TABLE 111 Key information – JTEKT Corporation
TABLE 112 Key Information – ZF Friedrichshafen AG
TABLE 113 Key Information – ThyssenKrupp AG
TABLE 114 Key Information – BBB Industries
TABLE 115 Key Information – Nexteer Automotive
TABLE 116 Key Information – Zhejiang Shibao Co., Ltd.
List of Figures
FIG 1 Methodology for the research
FIG 2 LAMEA Automotive Electric Power Steering Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting Automotive Electric Power Steering Market
FIG 4 Porter’s Five Forces Analysis - Automotive Electric Power Steering Market
FIG 5 LAMEA Automotive Electric Power Steering Market share by Propulsion Type, 2022
FIG 6 LAMEA Automotive Electric Power Steering Market share by Propulsion Type, 2030
FIG 7 LAMEA Automotive Electric Power Steering Market by Propulsion Type, 2019 - 2030, USD Million
FIG 8 LAMEA Automotive Electric Power Steering Market share by Component, 2022
FIG 9 LAMEA Automotive Electric Power Steering Market share by Component, 2030
FIG 10 LAMEA Automotive Electric Power Steering Market by Component, 2019 - 2030, USD Million
FIG 11 LAMEA Automotive Electric Power Steering Market share by Vehicle Type, 2022
FIG 12 LAMEA Automotive Electric Power Steering Market share by Vehicle Type, 2030
FIG 13 LAMEA Automotive Electric Power Steering Market by Vehicle Type, 2019 - 2030, USD Million
FIG 14 LAMEA Automotive Electric Power Steering Market share by Type, 2022
FIG 15 LAMEA Automotive Electric Power Steering Market share by Type, 2030
FIG 16 LAMEA Automotive Electric Power Steering Market by Type, 2019 - 2030, USD Million
FIG 17 LAMEA Automotive Electric Power Steering Market share by Country, 2022
FIG 18 LAMEA Automotive Electric Power Steering Market share by Country, 2030
FIG 19 LAMEA Automotive Electric Power Steering Market by Country, 2019 - 2030, USD Million
FIG 20 Recent strategies and developments: NSK Ltd.
FIG 21 SWOT Analysis: NSK Ltd
FIG 22 SWOT Analysis: Robert Bosch GmbH
FIG 23 SWOT Analysis: HL Mando Corporation
FIG 24 Swot Analysis: Hitachi, Ltd.
FIG 25 Swot Analysis: JTEKT Corporation
FIG 26 Swot Analysis: ZF Friedrichshafen AG
FIG 27 Swot Analysis: Thyssenkrupp AG
FIG 28 Swot Analysis: BBB Industries
FIG 29 Swot Analysis: Nexteer Automotive