Electric Power Steering (EPS) Sensor Market Share, Growth Report 2023-2029

The global electric power steering (eps) sensor market size was valued at USD 15.2 billion in 2021 and is poised to grow at a significant CAGR of 7.3% during the forecast period 2023-29. The primary factors that drive the market are the increase in vehicle production and a rise in the number of accidents. The global electric power steering (EPS) sensor market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share. In October 2020, BorgWarner acquired Delphi Technologies to strengthen power electronics product portfolio. In May 2020, ZF Friedrichshafen AG acquired WABCO to form global integrated systems for commercial vehicle technology.