Global Active Power Steering Market Size & Outlook
The active power steering industry worldwide is expected to reach a projected revenue of US$ 25,146.9 million by 2030. A compound annual growth rate of 13.2% is expected of the worldwide active power steering industry from 2024 to 2030.
Revenue, 2023 (US$M)
$10,545.8
Forecast, 2030 (US$M)
$25,146.9
CAGR, 2024 - 2030
13.2%
Report Coverage
Worldwide
Global active power steering market, 2018-2030 (US$M)
Global active power steering market highlights
- The global active power steering market generated a revenue of USD 10,545.8 million in 2023 and is expected to reach USD 25,146.9 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 13.2% by 2030.
- In terms of segment, electric power steering system accounted for a revenue of USD 10,545.8 million in 2023.
- Electric Power Steering System is the most lucrative type segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
Global data book summary
| Market revenue in 2023 | USD 10,545.8 million |
| Market revenue in 2030 | USD 25,146.9 million |
| Growth rate | 13.2% (CAGR from 2023 to 2030) |
| Largest segment | Electric power steering system |
| Fastest growing segment | Electric Power Steering System |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Electric Power Steering System |
Other key industry trends
- In terms of revenue, the North America accounted for 32.6% of the global active power steering market in 2023.
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Active Power Steering Market Scope
Active power steering market segmentation & scope
Electric Power Steering System
Hydraulic Power Steering System
Electro-Hydraulic Power Steering System
Application
Passenger Car
Commercial Car
Countries
U.S.
Canada
Mexico
Germany
UK
France
Italy
Spain
Denmark
Sweden
Norway
China
Japan
India
Australia
South Korea
Thailand
Brazil
Argentina
South Africa
Saudi Arabia
UAE
Kuwait
Active Power Steering Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global active power steering market size, by regions, 2018-2030 (US$M)
Related industry reports
Related regional statistics
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