PUBLISHER: Grand View Research | PRODUCT CODE: 1530209
PUBLISHER: Grand View Research | PRODUCT CODE: 1530209
Active Power Steering Market Size, Share & Trends Analysis Report By Type (Electric Power Steering System, Hydraulic Power Steering System), By Application (Passenger Car, Commercial Vehicle), By Region, And Segment Forecasts, 2024 - 2030
Active Power Steering Market Size & Trends
The global active power steering market size was estimated at USD 10.55 billion in 2023 and is expected to grow at a CAGR of 13.5% from 2024 to 2030. Active power steering is an advanced power steering technology that adjusts both the steering ratio and steering force based on driving speed and conditions. This growth of the market is driven by several factors, including the growing demand for advanced steering systems in commercial as well as passenger vehicles, technological innovations in automotive components, and the growing focus on vehicle safety and fuel efficiency. In addition, the integration of active power steering systems with advanced driver assistance systems (ADAS) and other automated driving technologies is anticipated to further drive market growth.
The active power steering system market is increasingly witnessing the integration of ADAS. This integration enhances safety features such as lane-keeping assist, automatic lane changes, and collision avoidance. Automotive manufacturers are leveraging this technology to provide a more intuitive and safer driving experience. As a result, the demand for vehicles equipped with ADAS and active power steering systems is on the rise.
Ongoing technological advancements are driving the growth of active power steering systems market. Innovations such as steer-by-wire technology, which eliminates the mechanical connection between the steering wheel and wheels, are gaining traction. These advancements offer greater design flexibility and improved performance. For instance, in September 2023, Titan, a UK-based company specializing in EV steering systems, launched a steer-by-wire system. This system is designed for an extensive range of low-volume vehicles, spanning from light commercial vehicles and trucks to supercars. Such initiatives by several manufacturers are expected to bode well for the market's growth.
Furthermore, the market is poised for substantial growth propelled by increasing demand for electric vehicles, and growing focus on the development of autonomous vehicles. Electric vehicles benefit from the efficiency and precision of active power steering, which is essential for optimal performance. Autonomous vehicles requiring advanced steering capabilities are driving further innovations in this technology. This trend is leading to increased investment and development within the active power steering sector.
The utilization of advanced technologies and materials in active power steering systems often results in higher costs, which may hinder their widespread adoption. In addition, integrating active power steering systems into commercial vehicles demands precise engineering and introduces complexities to vehicle design and manufacturing processes. These challenges can be particularly daunting for manufacturers managing a range of vehicle models and specifications. Thus, the high cost of active power steering systems, particularly in commercial vehicles, and the integration complexities of these systems could hamper the growth of the market.
Global Active Power Steering Market Report Segmentation
The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global active power steering market based on type, application, and region:
- Type Outlook (Revenue, USD Million, 2018 - 2030)
- Electric Power Steering System
- Hydraulic Power Steering System
- Electro-Hydraulic Power Steering System
- Application Outlook (Revenue, USD Million, 2018 - 2030)
- Passenger Car
- Commercial Vehicle
- Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
U.S.
Canada
Mexico
- Europe
Germany
UK
France
- Asia Pacific
China
India
Japan
Australia
South Korea
- Latin America
Brazil
- Middle East & Africa
UAE
Kingdom of Saudi Arabia
South Africa
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Segmentation & Scope
- 1.2 Market Definitions
- 1.3 Information Procurement
- 1.4 Information Analysis
- 1.4.1 Market Formulation & Data Visualization
- 1.4.2 Data Validation & Publishing
- 1.5 Research Scope and Assumptions
- 1.6 List of Data Sources
Chapter 2 Executive Summary
- 2.1 Market Outlook
- 2.2 Segmental Outlook
- 2.3 Competitive Landscape Snapshot
Chapter 3 Market Variables, Trends, and Scope
- 3.1 Market Lineage Outlook
- 3.2 Industry Value Chain Analysis
- 3.3 Market Dynamics
- 3.3.1 Market Driver Impact Analysis
- 3.3.2 Market Restraint Impact Analysis
- 3.3.3 Market Opportunity Impact Analysis
- 3.4 Industry Analysis Tools
- 3.4.1 Porter's Five Forces Analysis
- 3.4.2 PESTEL Analysis
Chapter 4 Active Power Steering Market: Type Estimates & Trend Analysis
- 4.1 Type Movement Analysis & Market Share, 2023 & 2030
- 4.2 Active Power Steering Market Estimates & Forecast, By Type
- 4.2.1 Electric Power Steering System
- 4.2.2 Hydraulic Power Steering System
- 4.2.3 Electro-Hydraulic Power Steering System
Chapter 5 Active Power Steering Market: Application Estimates & Trend Analysis
- 5.1 Application Movement Analysis & Market Share, 2023 & 2030
- 5.2 Active Power Steering Market Estimates & Forecast, By Application
- 5.2.1 Passenger Car
- 5.2.2 Commercial Vehicle
Chapter 6 Active Power Steering Market: Regional Estimates & Trend Analysis
- 6.1 Active Power Steering Market: Regional Outlook
- 6.2 North America
- 6.2.1 North America Active Power Steering market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.2.2 U.S.
- 6.2.2.1 U.S. Active Power Steering market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.2.3 Canada
- 6.2.3.1 Canada Active Power Steering market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.2.4 Mexico
- 6.2.4.1 Mexico Active Power Steering market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.3 Europe
- 6.3.1 Europe Active Power Steering market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.3.2 Germany
- 6.3.2.1 Germany Active Power Steering market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.3.3 UK
- 6.3.3.1 UK Active Power Steering market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.3.4 France
- 6.3.4.1 France Active Power Steering market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.4 Asia Pacific
- 6.4.1 Asia Pacific Active Power Steering market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.4.2 China
- 6.4.2.1 China Active Power Steering market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.4.3 India
- 6.4.3.1 India Active Power Steering market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.4.4 Japan
- 6.4.4.1 Japan Active Power Steering market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.4.5 Australia
- 6.4.5.1 Australia Active Power Steering market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.4.6 South Korea
- 6.4.6.1 South Korea Active Power Steering market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.5 Latin America
- 6.5.1 Latin America Active Power Steering market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.5.2 Brazil
- 6.5.2.1 Brazil Active Power Steering market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.6 MEA
- 6.6.1 MEA Active Power Steering market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.6.2 UAE
- 6.6.2.1 UAE Active Power Steering market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.6.3 Kingdom of Saudi Arabia (KSA)
- 6.6.3.1 Kingdom of Saudi Arabia (KSA) Active Power Steering market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.6.4 South Africa
- 6.6.4.1 South Africa Active Power Steering market estimates & forecasts, 2018 - 2030 (USD Million)
Chapter 7 Competitive Landscape
- 7.1 Company Categorization
- 7.2 Financial Performance
- 7.3 Product Benchmarking
- 7.4 Company Market Share Analysis, 2023
- 7.5 Company Heat Map Analysis
- 7.6 Strategy Mapping
- 7.6.1 Expansion
- 7.6.2 Collaborations
- 7.6.3 Mergers & Acquisitions
- 7.6.4 New Application Launches
- 7.6.5 Partnerships
- 7.6.6 Others
- 7.7 Company List
- 7.7.1 AB Volvo
- 7.7.2 JTEKT Corporation
- 7.7.3 Knorr-Bremse Commercial Vehicle Systems GmbH
- 7.7.4 MAN
- 7.7.5 Nexteer Automotive
- 7.7.6 NSK Ltd.
- 7.7.7 Ognibene Power SpA
- 7.7.8 Robert Bosch GmbH
- 7.7.9 thyssenkrupp AG
- 7.7.10 ZF Friedrichshafen AG
List of Tables
- Table 1 Active power teering market (USD Million) 2018 - 2030
- Table 2 Global market estimates and forecasts, by region, 2018 - 2030 (USD Million)
- Table 3 Global market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- Table 4 Global market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 5 Electric Power Steering System market, by region, 2018 - 2030 (USD Million)
- Table 6 Hydraulic Power Steering System market, by region, 2018 - 2030 (USD Million)
- Table 7 Electro-Hydraulic Power Steering System market, by region, 2018 - 2030 (USD Million)
- Table 8 Passenger Car active power steering market, by region, 2018 - 2030 (USD Million)
- Table 9 Commercial Vehicle active power steering market, by region, 2018 - 2030 (USD Million)
- Table 10 North America active power steering market, by type, 2018 - 2030 (USD Million)
- Table 11 North America active power steering market, by application, 2018 - 2030 (USD Million)
- Table 12 North America active power steering market, by application, 2018 - 2030 (USD Million)
- Table 13 U.S. active power steering market, by type, 2018 - 2030 (USD Million)
- Table 14 U.S. active power steering market, by application, 2018 - 2030 (USD Million)
- Table 15 Canada active power steering market, by type, 2018 - 2030 (USD Million)
- Table 16 Canada active power steering market, by application, 2018 - 2030 (USD Million)
- Table 17 Mexico active power steering market, by type, 2018 - 2030 (USD Million)
- Table 18 Mexico active power steering market, by application, 2018 - 2030 (USD Million)
- Table 19 Europe active power steering market, by type, 2018 - 2030 (USD Million)
- Table 20 Europe active power steering market, by application, 2018 - 2030 (USD Million)
- Table 21 Germany active power steering market, by type, 2018 - 2030 (USD Million)
- Table 22 Germany active power steering market, by application, 2018 - 2030 (USD Million)
- Table 23 UK active power steering market, by type, 2018 - 2030 (USD Million)
- Table 24 UK active power steering market, by application, 2018 - 2030 (USD Million)
- Table 25 France active power steering market, by type, 2018 - 2030 (USD Million)
- Table 26 France active power steering market, by application, 2018 - 2030 (USD Million)
- Table 27 Asia Pacific active power steering market, by type, 2018 - 2030 (USD Million)
- Table 28 Asia Pacific active power steering market, by application, 2018 - 2030 (USD Million)
- Table 29 China active power steering market, by type, 2018 - 2030 (USD Million)
- Table 30 China active power steering market, by application, 2018 - 2030 (USD Million)
- Table 31 India active power steering market, by type, 2018 - 2030 (USD Million)
- Table 32 India active power steering market, by application, 2018 - 2030 (USD Million)
- Table 33 Japan active power steering market, by type, 2018 - 2030 (USD Million)
- Table 34 Japan active power steering market, by application, 2018 - 2030 (USD Million)
- Table 35 Australia active power steering market, by type, 2018 - 2030 (USD Million)
- Table 36 Australia active power steering market, by application, 2018 - 2030 (USD Million)
- Table 37 South Korea active power steering market, by type, 2018 - 2030 (USD Million)
- Table 38 South Korea active power steering market, by application, 2018 - 2030 (USD Million)
- Table 39 Latin America active power steering market, by type, 2018 - 2030 (USD Million)
- Table 40 Latin America active power steering market, by application, 2018 - 2030 (USD Million)
- Table 41 Brazil active power steering market, by type, 2018 - 2030 (USD Million)
- Table 42 Brazil active power steering market, by application, 2018 - 2030 (USD Million)
- Table 43 Middle East & Africa active power steering market, by type, 2018 - 2030 (USD Million)
- Table 44 Middle East & Africa active power steering market, by application, 2018 - 2030 (USD Million)
- Table 45 UAE active power steering market, by type, 2018 - 2030 (USD Million)
- Table 46 UAE active power steering market, by application, 2018 - 2030 (USD Million)
- Table 47 Kingdom of Saudi Arabia (KSA) active power steering market, by type, 2018 - 2030 (USD Million)
- Table 48 Kingdom of Saudi Arabia (KSA) active power steering market, by application, 2018 - 2030 (USD Million)
- Table 49 South Africa active power steering market, by type, 2018 - 2030 (USD Million)
- Table 50 South Africa active power steering market, by application, 2018 - 2030 (USD Million)
- Table 51 Company Market Share, 2023
- Table 52 Company Heat Map Analysis
- Table 53 Key companies undergoing expansion
- Table 54 Key companies undergoing collaborations
- Table 55 Key companies undergoing new product launch
- Table 56 Key companies undergoing mergers & acquisitions
- Table 57 Key companies undergoing other strategies
List of Figures
- Fig. 1 Active Power Steering Market Segmentation
- Fig. 2 Information Procurement
- Fig. 3 Information Analysis
- Fig. 4 Market Formulation & Data Visualization
- Fig. 5 Data Validation & Publishing
- Fig. 6 Active Power Steering Market Snapshot
- Fig. 7 Segment Snapshot
- Fig. 8 Competitive Landscape Snapshot
- Fig. 9 Active Power Steering Market Value, 2023 & 2030 (USD Million)
- Fig. 10 Active Power Steering - Industry Value Chain Analysis
- Fig. 11 Active Power Steering Market - Market Dynamics
- Fig. 12 Active Power Steering Market: PORTER's Five Forces Analysis
- Fig. 13 Active Power Steering Market: PESTEL Analysis
- Fig. 14 Active Power Steering Market, by Type: Key Takeaways
- Fig. 15 Active Power Steering Market, by Type: Market Share, 2023 & 2030
- Fig. 16 Active Power Steering Market, by Application: Key Takeaways
- Fig. 17 Active Power Steering Market, by Application: Market Share, 2023 & 2030
- Fig. 18 Active Power Steering Market, by Region, 2023 & 2030 (USD Million)
- Fig. 19 Regional Marketplace: Key Takeaways
- Fig. 20 North America Active Power Steering Market Estimates & Forecast, 2018 - 2030 (USD Millions)
- Fig. 21 U.S. Active Power Steering Market Estimates & Forecast, 2018 - 2030 (USD Millions)
- Fig. 22 Canada Active Power Steering Market Estimates & Forecast, 2018 - 2030 (USD Millions)
- Fig. 23 Mexico Active Power Steering Market Estimates & Forecast, 2018 - 2030 (USD Millions)
- Fig. 24 Europe Active Power Steering Market Estimates & Forecast, 2018 - 2030 (USD Millions)
- Fig. 25 Germany Active Power Steering Market Estimates & Forecast, 2018 - 2030 (USD Millions)
- Fig. 26 UK Active Power Steering Market Estimates & Forecast, 2018 - 2030 (USD Millions)
- Fig. 27 France Active Power Steering Market Estimates & Forecast, 2018 - 2030 (USD Millions)
- Fig. 28 Asia Pacific Active Power Steering Market Estimates & Forecast, 2018 - 2030 (USD Millions)
- Fig. 29 China Active Power Steering Market Estimates & Forecast, 2018 - 2030 (USD Millions)
- Fig. 30 India Active Power Steering Market Estimates & Forecast, 2018 - 2030 (USD Millions)
- Fig. 31 Japan Active Power Steering Market Estimates & Forecast, 2018 - 2030 (USD Millions)
- Fig. 32 Australia Active Power Steering Market Estimates & Forecast, 2018 - 2030 (USD Millions)
- Fig. 33 South Korea Active Power Steering Market Estimates & Forecast, 2018 - 2030 (USD Millions)
- Fig. 34 Latin America Active Power Steering Market Estimates & Forecast, 2018 - 2030 (USD Millions)
- Fig. 35 Brazil Active Power Steering Market Estimates & Forecast, 2018 - 2030 (USD Millions)
- Fig. 36 MEA Active Power Steering Market Estimates & Forecast, 2018 - 2030 (USD Millions)
- Fig. 37 U.A.E. Active Power Steering Market Estimates & Forecast, 2018 - 2030 (USD Millions)
- Fig. 38 Kingdom of Saudi Arabia Active Power Steering Market Estimates & Forecast, 2018 - 2030 (USD Millions)
- Fig. 39 South Africa Active Power Steering Market Estimates & Forecast, 2018 - 2030 (USD Millions)
- Fig. 40 Company Market Share Analysis, 2023
- Fig. 41 Strategic Framework
