South Korea Electric Power Steering Market Insight
Published: 01 June 2026 | Report Format: Electronic (PDF)
The electric power steering market in South Korea is expected to grow at 7.41% due to rising passenger vehicle production, increasing ADAS adoption, growing fuel-efficient vehicle demand, and electric steering technology integration.
South Korea Electric Power Steering Market Insights Forecasts to 2035
- The South Korea Electric Power Steering Market Size Was Estimated USD 1248.6Million in 2025
- The Market Size is Expected to Grow at a CAGR of around 7.41% from 2025 to 2035
- The South Korea Electric Power Steering Market Size is Expected to rise around USD 2552.9 Million by 2035
Notable Insights for the South Korea Electric Power Steering Market
- Based onthe Segmentation by Vehicle Type, it can be observed that Passenger Cars segment is leading the South Korea Electric Power Steering Market in 2025, holding nearly 66% market share due to rising passenger vehicle production.
- Based on the Segmentation by Application, automotive electronics, industrial automation & consumer electronics segment held nearly 61%market share in 2025, driven by rising demand for smart automotive systems, industrial automation technologies, and consumer electronic devices.
- The global revenue of BASF SE in fiscal year 2025 stood at nearly USD 78.6 billion backed by increasing demand for agricultural crop protection products, fungicide innovations, and sustainable farming solutions.
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- Increasing investments in bio-based fungicides, precision farming technologies, and integrated pest management practices will drive market growth, as advanced fungicide solutions improve crop protection efficiency by 31% and reduce fungal disease-related crop losses by 27%.
What Makes Decisions Advisors Research Unique?
- Intelligent Advanced Automotive Components & Mobility Market Intelligence
Decisions Advisors offers advanced market research covering automotive steering systems, vehicle electrification trends, mobility technologies, automotive supply chains, and intelligent transportation innovations. Our research identifies emerging opportunities, import-export trends, competitive benchmarking, and technology adoption patterns in South Korea Electric Power Steering Market. - Highly Effective Research Approaches with Accurate Forecast Analysis
The research methodology combines primary interviews, automotive trade analysis, vehicle production monitoring, component supply chain studies, and data triangulation to provide accurate market forecasting, pricing analysis, CAGR projections, and supply-demand evaluations. The study examines the use of electric power steering systems across passenger vehicles, commercial vehicles, hybrid vehicles, and electric mobility sectors in South Korea. - Highly Competitive Environment Analysis
In-depth report provides indepth analysis of major automotive steering manufacturers, component suppliers, electric mobility companies, automotive electronics firms, and vehicle technology providers. It also covers automotive regulations, safety compliance analysis, manufacturing innovations, vehicle electrification trends, and strategic partnerships shaping the South Korea Electric Power Steering Market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the South Korea Electric Power Steering Market, along with a comparative evaluation primarily based on their product of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
Top Companies in South Korea Electric Power Steering Market
- JTEKT Corporation
- Nexteer Automotive
- NSK Ltd.
- Hyundai Mobis Co., Ltd.
- Mando Corporation
- Robert Bosch GmbH
- ZF Friedrichshafen AG
- Hitachi Astemo Ltd.
- Thyssenkrupp AG
- Showa Corporation
Recent Developments:
- In October 2025,Hyundai Mobis Co., Ltd. expanded its next-generation electric power steering production capabilities for electric and autonomous vehicles in South Korea.
- In June 2025, Nexteer Automotive introduced advanced steer-by-wire and intelligent electric power steering technologies designed for enhanced vehicle safety and autonomous driving support systems.
Market Segmentation:
South Korea Electric Power Steering Market, By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Electric Vehicles
- Hybrid Vehicles
South Korea Electric Power Steering Market, By Steering Type
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- Column Assist Electric Power Steering
- Pinion Assist Electric Power Steering
- Rack Assist Electric Power Steering
South Korea Electric Power Steering Market, By Component Type
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- Steering Sensors
- Steering Columns
- Electronic Control Units
- Electric Motors
- Torque Sensors
Expert Views:
The South Korea electric power steering market is expected to witness significant growth due to increasing vehicle electrification, rising demand for intelligent mobility solutions, and expanding adoption of advanced automotive safety systems. The integration of autonomous driving technologies, steer-by-wire systems, and energy-efficient steering components will support market expansion across passenger vehicles, commercial transportation, hybrid vehicles, and electric mobility industries.
Author: Govind and Krishna By Spherical Insights and Consulting