Electric Power Steering Market to be Worth $37.1 Billion by 2031

Electric power steering (EPS) has become increasingly popular in modern vehicles due to its advantages over traditional hydraulic power steering systems. This technology significantly enhances the driving experience in several ways, such as by improving fuel efficiency, enhanced steering precision and control, and variable steering assistance. Additionally, EPS systems have increasingly been integrated with ADAS, which provides features like lane-keeping assistance, adaptive cruise control, and automatic parking.