India Electric Power Steering Market 2033

India Electric Power Steering Market Size, Share, Trends and Forecast by Type, Component, Vehicle Type, Mechanism, and Region, 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A31518

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India Electric Power Steering Market Overview:

The India electric power steering market size reached USD 1.04 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 1.87 Billion by 2033, exhibiting a growth rate (CAGR) of 6.27% during 2025-2033. The India electric power steering market share is expanding, driven by the rising shift towards modern steering systems that complement the efficiency of electric vehicle (EV) technology, along with innovations in artificial intelligence (AI), enabling real-time adjustments based on road conditions.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 1.04 Billion
Market Forecast in 2033	USD 1.87 Billion
Market Growth Rate 2025-2033	6.27%

India Electric Power Steering Market Trends:

Increasing demand for EVs

The rising demand for EVs is fueling the India electric power steering market growth. As per industry reports, in 2024, electric car sales in India rose by 20%, approaching 100,000 units, compared to 82,688 in 2023. Unlike hydraulic power steering, which relies on a fluid-based system, electric power steering operates using an electric motor, making it a perfect fit for EVs that aim to minimize energy loss and enhance overall vehicle efficiency. As India is supporting greener mobility solutions with government incentives, subsidies, and stricter emission norms, more people are opting for EVs, creating the need for modern steering systems that improve driving comfort and fuel optimization. Electric power steering offers better control, reduced maintenance, and a smoother driving experience, making it a preferred choice for electric two-wheelers, passenger cars, and commercial vehicles. The rise of domestic EV manufacturing and investments in local auto component production are further accelerating the usage of electric power steering. With automakers continuously innovating to refine battery performance and overall vehicle dynamics, the demand for electric power steering is growing rapidly, making it a crucial component in India's evolving EV ecosystem.

India Electric Power Steering Market Size

Advancements in technology

Innovations in technology are offering a favorable India electric power steering market outlook. Modern electric power steering systems are integrated with advanced driver assistance systems (ADAS), providing features like adaptive cruise control and automatic parking, making driving more convenient. The rise of hybrid vehicles is also encouraging automakers to adopt electric power steering, as it improves energy efficiency. Wireless connectivity and smart diagnostics help to fix issues faster, enhancing safety and reducing maintenance costs. Moreover, the ongoing employment of AI in electric power steering is revolutionizing the market, as modern algorithms enable real-time adjustments based on road conditions and driver behavior, making steering systems smarter and more adaptive for Indian road conditions. As per the IMARC Group, the India AI market size is set to attain USD 12,429.6 Million by 2033, showing a growth rate (CAGR) of 27.6% during 2025-2033. Predictive maintenance is another big advantage, as AI identifies potential issues early, preventing sudden failures. With automakers focusing on autonomous vehicle technology, electric power steering is becoming a key component in modern vehicle design.

India Electric Power Steering Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the regional level for 2025-2033. Our report has categorized the market based on type, component, vehicle type, and mechanism.

Type Insights:

C-EPS
P-EPS
R-EPS

The report has provided a detailed breakup and analysis of the market based on the type. This includes C-EPS, P-EPS, and R-EPS.

Component Insights:

Steering Column
Steering Wheel
Sensors
Electronic Control Unit
Electric Motor
Bearings

A detailed breakup and analysis of the market based on the component have also been provided in the report. This includes steering column, steering wheel, sensors, electronic control unit, electric motor, and bearings.

Vehicle Type Insights:

Passenger Cars
Medium and Heavy Commercial Vehicles
Light Commercial Vehicles
Off-the-Road Vehicles

The report has provided a detailed breakup and analysis of the market based on the vehicle type. This includes passenger cars, medium and heavy commercial vehicles, light commercial vehicles, and off-the-road vehicles.

Mechanism Insights:

Collapsible EPS
Rigid EPS

A detailed breakup and analysis of the market based on the mechanism have also been provided in the report. This includes collapsible EPS and rigid EPS.

Regional Insights:

North India
South India
East India
West India

The report has also provided a comprehensive analysis of all the major regional markets, which include North India, South India, East India, and West India.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

India Electric Power Steering Market News:

In January 2025, ZF Rane Automotive India Pvt Ltd, the partnership of Rane Group and ZF Group, intended to launch rack drive electric power steering system technologies in the Indian market. This alliance strengthened their dedication to providing cutting-edge technology options that aligned with customer needs.
In July 2024, Rane Holdings Limited (RHL) declared that its Board of Directors sanctioned the purchase of a 51% share from NSK Limited in Rane NSK Steering Systems Private Limited. The company was set to turn into a wholly-owned subsidiary of RHL and was to be renamed Rane Steering Systems Private Limited (RSSL). Rane NSK Steering Systems produced manual and electric power steering columns for leading commercial and passenger vehicle original equipment manufacturers (OEMs), as well as intermediate shafts for off-highway vehicles. This purchase aimed to enhance the firm’s knowledge about steering systems.

India Electric Power Steering Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Type Component Vehicle Type Mechanism Region
Types Covered	C-EPS, P-EPS, R-EPS
Components Covered	Steering Column, Steering Wheel, Sensors, Electronic Control Unit, Electric Motor, Bearings
Vehicle Types Covered	Passenger Cars, Medium and Heavy Commercial Vehicles, Light Commercial Vehicles, Off-the-Road Vehicles
Mechanisms Covered	Collapsible EPS, Rigid EPS
Regions Covered	North India, South India, East India, West India
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

How has the India electric power steering market performed so far and how will it perform in the coming years?
What is the breakup of the India electric power steering market on the basis of type?
What is the breakup of the India electric power steering market on the basis of component?
What is the breakup of the India electric power steering market on the basis of vehicle type?
What is the breakup of the India electric power steering market on the basis of mechanism?
What is the breakup of the India electric power steering market on the basis of region?
What are the various stages in the value chain of the India electric power steering market?
What are the key driving factors and challenges in the India electric power steering market?
What is the structure of the India electric power steering market and who are the key players?
What is the degree of competition in the India electric power steering market?

Key Benefits for Stakeholders:

IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India electric power steering market from 2019-2033.
The research report provides the latest information on the market drivers, challenges, and opportunities in the India electric power steering market.
Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India electric power steering industry and its attractiveness.
Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

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