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April 2025
The automotive electro-hydraulic power steering market is projected to reach USD 30.78 billion by 2034, expanding from USD 20.45 billion in 2025, at an annual growth rate of 4.65% during the forecast period from 2025 to 2034.
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In the long term, increased R&D investments of major industry players, increased sales of electric and hybrid vehicles, and increased demand for the automotive industry are due to the growth of e-commerce. It positively affects the growth in the automotive electro-hydraulic power sector by helping to create demand in the automotive and transportation sectors. Factors such as the high cost of electro-power steering systems and major manufacturers' focus on cost reduction may hinder the growth of the automobile electro-power steering system business.
Market players are expanding production capacity to meet the increasing demand for hydropower plants and conducting mergers and acquisitions to improve their products. For example, in August 2022, Kongsberg Automotive announced the sale of its Shawinigan business in Canada to Bombardier Recreational Products (BRP Inc.) for €104 million ($110 million). Shawinigan manufactures sensors, actuators, electric power steering, electrical wiring and instrument panel assemblies for sports and recreational vehicles. In addition, with the rapid changes in driver assistance systems (ADAS), autonomous driving and the Internet of Vehicles, there is a growing need to usher in a new era to improve fuel efficiency, which has a positive impact on growth. development of electric vehicles. - Hydraulic Assisted Steering Gear Market.
The Asia-Pacific region is the world's largest automotive electro-hydraulic power steering market due to the large number of electric vehicle manufacturers, high commercial vehicle sales and automotive parts industry. North America and Europe are the second largest markets due to major manufacturers such as ZF Friedrichshafen AG, where commercial vehicles such as long-distance buses and multi-purpose vehicles are also expected to be sold.
The shift in the motor segment leads to greater support, which over time leads to the growth of the global electric vehicle market. In this case, it has a positive effect on the steering demand needed for electric-hydraulic steering system.
For example:
Integrating electro-hydraulic steering systems into vehicle models requires hydraulic power produced by electric motors. The demand for advanced pedals that improve driving is increasing.
With the development and advancement of bicycle steering, major changes in electro-hydraulic steering technology have also contributed to the improvement of driving. Sales of electro-hydraulic steering systems. Many electronics manufacturers and suppliers, including Nissan, Bosch and ZF, are developing steps that can be used with electric motors. These OEMs have also introduced electric power steering systems specifically designed for the automotive industry. With the increasing use of transportation in the market, control equipment is also expected to grow faster than expected.
The steering motor sub-segment is expected to contribute a large portion of the total electric motor revenue. - Based on the steps used, the steering motor market is more expensive and easier to control than other products such as sensors. Following the previous steps will help simplify installation and reduce weight by managing fewer drives. New generation electro-hydraulic steering motors will increase the economy of the steering wheel in operation.
Increasing urban costs, increasing vehicle ownership and rising consumer per capita income are driving the automobile market in Asia Pacific. In turn, it has a positive impact on the demand for automotive electro-hydraulic assisted steering systems in the region. As more consumers migrate to cities in search of better jobs and money, the preference for private transportation is also increasing. It had a positive impact on passenger transportation in the region. In addition, the integration of electric vehicles as the government pays more for new energy use will contribute to the growth of the electric vehicle industry, affecting the demand for new electrical equipment such as electro-hydraulic. power steering systems.
The automotive electro-hydraulic power steering system industry is highly integrated and competitive. The market is characterized by the presence of large players with long-term contracts with major vehicle OEMs. These players are also involved in joint ventures, mergers and acquisitions, and product development activities to improve their products.
Some of the major global players include JTEKT Corporation, Nissan Motor Corporation, SEAT, Robert Bosch GmbH, ZF Friedrichshafen, Danfoss A/S, Mitsubishi Heavy Industries and Evamo. Elite companies introduce new products to secure their position in the market and maintain market leadership.
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The market is expected to witness the launch of many of the best electronic devices in the coming years.
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April 2025
April 2025
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April 2025
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