Automotive Electric Power Steering Market Report- Understanding Market Size, Share, and Growth Factors [2029]
According to TechSci Research report, “ Global Automotive Electric Power Steering Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”, the Global Automotive Electric Power Steering Market stood at USD 22.75 Billion in 2023 and is anticipated to grow with a CAGR of 6.21% in the forecast period, 2025-2029. The global automotive electric power steering (EPS) market has witnessed significant growth in recent years, driven by several key factors including increasing vehicle production, technological advancements, and the growing demand for fuel-efficient and environmentally friendly vehicles. Automotive electric power steering systems replace traditional hydraulic power steering systems with electric motors to assist in steering, offering benefits such as improved fuel efficiency, reduced emissions, and enhanced driving dynamics. One of the primary drivers of the automotive electric power steering market is the increasi...