Global Electric Power Steering (EPS) System Market Size, Share, Trends, Growth, and Industry Analysis, By Type (Column Assist Type (CEPS), Pinion Assist Type (PEPS), Rack Assist Type (REPS)), By Vehicle Type (Passenger Car, Light Commercial Vehicles, Heavy Commercial Vehicles, Buses & Coaches), By Mechanism (Collapsible EPS, Rigid EPS), Regional Analysis, Competitor Analysis and Forecast 2024-2032
Global Electric Power Steering (EPS) System market size was USD 25.33 billion in 2023 and the market is projected to touch USD 43.25 billion by 2032, at a CAGR of 6.6 % during the forecast period. Electric power steering systems grow becoming increasingly popular as a contemporary substitute for antiquated steering systems like hydraulic and electro-hydraulic ones, driven by the increasing popularity of…