India Electric Power Steering Market By Type (C-EPS, P-EPS and R-EPS), By Component (Steering Column, Steering Wheel, Sensors, Electronic Control Unit, Electric Motor and Bearings), By Vehicle Type (Passenger Cars, Medium & Heavy Commercial Vehicles, Light Commercial Vehicles and Off-the-Road Vehicles), By Mechanism (Collapsible EPS and Rigid EPS), Competition, Forecast & Opportunities, 2019-2029
Published Date: April - 2025 | Publisher: MIR | No of Pages: 320 | Industry: Automotive | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request Customization| Forecast Period | 2025-2029 |
| Market Size (2023) | USD 2.8 Billion |
| CAGR (2023-2029) | 6.24% |
| Fastest Growing Segment | C-EPS |
| Largest Market | West |
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Market Overview
The Global India Electric Power Steering Market has been valued at USD 2.8 Billion in 2023 and is expected to forecast strong growth in the forecast period with a CAGR of 6.24% during 2029.
Key Market Drivers
Fuel Efficiency and Emissions Regulations
One of the key drivers for the India Electric Power Steering Market is the growing emphasis on fuel efficiency and reducing emissions. As the environment is becoming a pressing concern and governments are enforcing tougher emissions standards, the automotive sector is being pushed to create more fuel-efficient cars. Electric power steering systems provide a benefit here as they use less energy than conventional hydraulic power steering. By implementing EPS, car manufacturers can lower the vehicle's overall weight, leading to better fuel efficiency and lower emissions. This driver is especially important in India, where fuel efficiency and air quality are major issues.
Growth of Electric and Hybrid Vehicles
The proliferation of electric and hybrid vehicles is a key driver of the India Electric Power Steering Market. With the global shift towards electric mobility and the development of electric vehicle (EV) infrastructure in India, there is a growing demand for EPS systems. Electric vehicles rely on EPS for steering assistance, as these systems are well-suited to work in tandem with electric powertrains. The adoption of EPS is integral to enhancing the driving experience in electric and hybrid cars while achieving energy efficiency.
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Enhanced Driver Assistance Systems (ADAS)
The integration of advanced driver assistance systems (ADAS) in vehicles is driving the demand for EPS in India. ADAS features, such as lane-keeping assist, adaptive cruise control, and parking assistance, depend on EPS technology to function effectively. As safety concerns grow and consumers seek vehicles equipped with these advanced features, automakers are increasingly incorporating EPS to enable ADAS functionalities. The demand for safer and more convenient driving experiences is boosting the market for EPS-equipped vehicles.
Improved Handling and Control
Electric Power Steering systems are favored for their ability to enhance vehicle handling and control. EPS provides variable assistance, adjusting steering effort based on driving conditions and speed. This feature makes parking and low-speed maneuvers easier while offering stability at higher speeds. Consumers appreciate the improved handling and driving comfort provided by EPS, leading to its higher adoption rate in new vehicles.
Reduction in Maintenance and Total Cost of Ownership
A notable driver for the India Electric Power Steering Market is the reduction in maintenance requirements and the total cost of ownership for vehicle owners. Compared to traditional hydraulic power steering systems, EPS is less prone to leaks, resulting in lower maintenance costs. The durability and longevity of EPS systems contribute to their overall cost-effectiveness. This appeal to both vehicle manufacturers and consumers has led to the widespread adoption of EPS technology.
Market Innovation and Competitive Advantage
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Key Market Challenges
Cost Implications and Price Sensitivity
One of the key challenges for the India Electric Power Steering Market is the cost implications of EPS technology. Although EPS systems provide many benefits such as improved fuel efficiency and added driver assistance features, the initial cost of adopting EPS may be higher than conventional hydraulic power steering. This cost consciousness is a vital consideration in the Indian market, where budget-sensitive consumers tend to favor affordability. EPS technology suppliers and manufacturers have to meet the challenge of harmonizing cost efficiency with the value proposition of EPS systems to attain market acceptability.
Maintenance and Repair Issues
Maintenance and repair issues represent a significant challenge in the India Electric Power Steering Market. Although EPS systems are typically more resistant to wear and need less maintenance than hydraulic systems, repairing and replacing EPS components can be time-consuming and costly. The lack of trained technicians who can properly diagnose and fix EPS systems can further aggravate this issue. Addressing these issues and making maintenance and repair services easily available at is essential to the mass implementation of EPS technology in India.
Power Supply and Electrical Infrastructure
The reliability of India's electrical infrastructure and power supply can greatly influence the performance and acceptance of EPS technology. Unreliable power supply in certain areas and limited electrical infrastructure for rural areas can create issues with the reliability of EPS systems. Vehicle owners are concerned with experiencing power-related problems, including EPS failure, when driving for daily purposes. Developing reliable electrical infrastructure and power supply reliability is the key to bridging this gap.
Educational and Awareness Gaps
There is a conspicuous educational and awareness deficit regarding EPS technology among car owners and auto technicians in India. Several owners and operators of vehicles might be unaware of the advantages and the way EPS systems work. Technicians who maintain vehicles also do not have sufficient training to repair and diagnose properly EPS-related faults. Closing these awareness and educational gaps is a challenge that necessitates efforts to educate and inform consumers, service technicians, and industry players on the benefits and maintenance needs of EPS technology.
Harsh Environmental Conditions
India's varied and frequently harsh environmental conditions can be a major challenge for EPS systems. Severe heat, heavy monsoon rains, and dusty conditions can impact the performance and lifespan of electrical components in vehicles. Shielding EPS systems against environmental exposures, making them resilient, and overcoming the problems of water ingress and overheating are some critical challenges in a nation with diverse climatic conditions. Suppliers and manufacturers need to come up with EPS systems that are resilient to the harshness of India's environment.
Economic Variability and Market Volatility
Market and economic instability in India might affect the India Electric Power Steering Market. Consumer buying power and demand for automobiles are impacted by economic volatility and market uncertainty. In uncertain times economically, people postpone or cut back on the purchase of autos, thus hitting demand for auto fitted with EPS. Manufacturers and producers have to contend with both economic situations and market swings, as well as ensuring the availability and competitiveness of EPS technology at all times despite tough economic scenarios.
Key Market Trends
Increasing Demand for Hybrid and Electric Cars
One of the strongest trends in the India Electric Power Steering Market is increasing demand for electric and hybrid cars. With fuel efficiency and environmental concerns taking front stage, customers and regulatory agencies are encouraging cleaner and greener forms of transport. Electric and hybrid cars have become very popular in India because they emit less and provide better fuel efficiency. EPS technology is very important in these cars, providing accurate steering control, lower energy consumption, and electric powertrain compatibility. With the increasing use of electric and hybrid cars, the demand for EPS systems will also increase, following the overall trend towards environmentally friendly transportation.
Advanced Driver Assistance Systems (ADAS)
The adoption of Advanced Driver Assistance Systems (ADAS) is one of the major trends propelling the India Electric Power Steering Market. ADAS features such as adaptive cruise control, lane-keeping assist, and automated parking are dependent on EPS technology for their smooth operation. These systems improve driver safety, convenience, and the overall driving experience. With safety emerging as a top priority in India's automotive sector, consumers are looking for vehicles with such advanced features. As a result, manufacturers are adopting EPS technology to support ADAS capabilities, leading to the increased usage of EPS systems in cars.
Fuel Efficiency and Lower Emissions
Striving for better fuel efficiency and lower emissions is a compelling factor for the uptake of EPS technology in India. While the nation struggles with air quality concerns and increasing environmental awareness, carmakers are forced to make their cars more fuel-efficient and eco-friendly. EPS systems have an upper hand in this situation because they are more energy-efficient in their operation than hydraulic power steering systems have been in the past. Its use lowers vehicle weight, which makes them more fuel efficient and less emitting. This path also goes hand in hand with India's effort to minimize its carbon footprint and improve air quality.
Consumer Preference for Better Driving Comfort
Indian consumers increasingly desire improved driving comfort and convenience. EPS technology is pivotal in addressing these desires. EPS systems deliver variable assistance, varying steering effort according to driving conditions and speed. This aspect simplifies parking and low-speed maneuvering, but also provides stability at high speeds. As consumers desire vehicles that provide comfort and pleasant driving, the trend of embracing EPS-equipped vehicles continues to strengthen.
Cost-Effective and Low-Maintenance Options
The demand for cost-effective and low-maintenance options is fueling the implementation of EPS technology. Although the upfront cost of putting EPS systems in place might be more than that of conventional hydraulic power steering, EPS presents long-term cost benefits. EPS systems are low-maintenance and more durable. The lower maintenance requirements and longer service life of EPS components result in lower total cost of ownership for vehicle owners. This cost savings makes EPS technology a winner with consumers and automakers alike.
Integration of Advanced Technologies and Connectivity
Segmental Insights
Component Insights
The Indian Electric Power Steering Market is currently experiencing a significant surge in automotive manufacturing, which can be attributed to the growing adoption of electric vehicles. This emerging trend is primarily driven by the government's proactive initiative towards promoting cleaner and more sustainable transport solutions, aiming to reduce carbon emissions and combat climate change.
The demand for electric power steering systems in the Indian market is steadily increasing, as consumers recognize the numerous advantages they offer. These advantages include improved fuel efficiency, which contributes to cost savings and environmental conservation, as well as a smoother and more comfortable driving experience. Electric power steering systems also provide enhanced maneuverability and responsiveness, ensuring a safer and more enjoyable driving experience for motorists.
In this dynamic and rapidly evolving landscape, key players in the sector are actively engaged in continuous research and development efforts. Their focus is on delivering technologically advanced, reliable, and cost-effective solutions that cater to the evolving needs of the market. By staying at the forefront of innovation and embracing cutting-edge technologies, these companies are well-positioned to drive the future of the Indian Electric Power Steering Market.
Type Insights
The Indian Electric Power Steering Market is poised for significant growth in the coming years. This growth is primarily driven by the increased production of automobiles in the country and the rising demand for fuel-efficient vehicles. As automakers strive to reduce the carbon footprint, electric power steering (EPS) systems have gained prominence due to their energy efficiency compared to traditional hydraulic systems.
Moreover, the adoption of EPS systems is also fueled by the enhanced driving comfort they offer to consumers. The smooth and responsive steering experience provided by EPS systems has been well-received by car owners. This positive feedback from consumers further contributes to the market growth.
However, it is important to acknowledge and address certain challenges that may arise. One such challenge is the relatively higher system costs associated with electric power steering. This can pose as a barrier for some consumers who may be deterred by the additional expenses. Additionally, there is also a need to address potential electric faults that could occur in EPS systems, ensuring their reliability and safety.
By overcoming these challenges and continuously improving the technology, the Indian Electric Power Steering Market is expected to witness a steady expansion in the foreseeable future. With the growing emphasis on fuel efficiency and driving comfort, EPS systems are set to play a crucial role in shaping the future of the automotive industry in India.
Regional Insights
The Indian electric power steering market is experiencing remarkable growth, fueled by the increasing demand for fuel-efficient vehicles and the rising environmental consciousness among consumers. With the government's aggressive push towards electric vehicles, including incentives and subsidies, coupled with a burgeoning middle-class population, the market's expansion is expected to accelerate even further.
Moreover, the influx of foreign direct investment in this sector, attracted by the country's potential as a market and manufacturing hub, is contributing to this growth trajectory. These investments are not only driving the development of advanced vehicle automation technologies, such as advanced driver assistance systems (ADAS), but also fostering collaborations between domestic and international players, leading to the transfer of knowledge and expertise.
However, it is important to note that despite the positive growth trends, the high cost of electric power steering systems remains a major challenge, hindering wider adoption in the market. Manufacturers and industry stakeholders are actively working towards developing cost-effective solutions that can bridge this gap.
Furthermore, the lack of a robust charging infrastructure across the country poses another hurdle, limiting the convenience and accessibility of electric vehicles. Efforts are being made to address this challenge, with initiatives to expand the charging infrastructure network, including the establishment of charging stations at strategic locations and the promotion of home-charging solutions.
As these obstacles are overcome, the Indian electric power steering market is poised for even greater growth and transformation in the coming years. The advancements in technology, combined with the government's continued support and the industry's commitment to innovation, will drive the adoption of electric power steering systems and contribute to a sustainable and eco-friendly transportation ecosystem in India.
Recent Developments
- Nexteer Automotive had announced that it hasreached the production milestone of 60 million electric power steering (EPS)systems globally. This EPS system increases the fuel efficiency up to 6% andCO2 emissions up to 8 grams per kilometer.
- Datsun India launched a remix edition of Datsun GOand GO+ models. Both the models featured speed-sensitive electric powersteering.
Key Market Players
- Bosch Limited
- JTEKTIndia Limited
- ZF IndiaPrivate Limited
- HyundaiMobis India Pvt. Ltd.
- NexteerAutomotive India Pvt. Ltd.
- MandoAutomotive India Limited
- ThyssenkruppPresta India Pvt. Ltd.
- ShowaIndia Pvt. Ltd.
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