Views: 0 Author: Site Editor Publish Time: 2026-06-18 Origin: Site
Published: June 12, 2026
Category: Industry News, EV Steering Parts
Global automotive research institutions released the latest electric power steering (EPS) industry forecast in early June 2026. Data shows the worldwide EPS market size hit USD 26.36 billion in 2023, and it is expected to exceed USD 42.57 billion by 2032, maintaining a compound annual growth rate of 5.47%. The core growth momentum fully comes from the rapid popularization of new energy passenger vehicles and commercial EVs.
Statistics indicate that EPS penetration rate among pure electric vehicles has reached 96% globally in 2026, completely replacing old hydraulic power steering systems. Unlike hydraulic steering that continuously consumes vehicle power, rack-assist electric steering rack only activates the motor when turning the wheel, cutting energy loss by 15%-22% and effectively boosting EV cruising range. Among all EPS categories, R-EPS rack assist steering assemblies occupy 38% market share, widely matched to Volkswagen, Audi, Skoda, Subaru and mainstream EV brands, making it the most in-demand aftermarket replacement component.
Regional market performance differs clearly: Europe and North America maintain steady demand for replacement EPS racks as used EV stock expands; Southeast Asia, Australia and the Middle East see explosive growth of EV maintenance spare parts. Auto repair garages and spare parts distributors face tight supply of OE-matching EPS steering gears, creating huge opportunities for aftermarket steering rack suppliers.
Our factory has upgraded production lines targeting mainstream OE models including 1K1423055M, 34110-SC030 full complete electric steering racks. Every unit adopts high-efficiency brushless motors, sealed anti-dust structure and passes strict sealing, noise and load aging testing, meeting OEM standard replacement demands for global EV and fuel vehicle repair markets.
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