Global Active Power Steering Market Size & Outlook
The global active power steering market size was estimated at USD 11,775.1 million in 2024 and is projected to reach USD 25,146.8 million by 2030, growing at a CAGR of 13.7% from 2025 to 2030.
Revenue, 2024 (US$M)
$11,775.1
Forecast, 2030 (US$M)
$25,146.8
CAGR, 2025 - 2030
13.7%
Report Coverage
Worldwide
Global active power steering market, 2018-2030 (US$M)
Related Markets
Global active power steering market highlights
- The global active power steering market generated a revenue of USD 11,775.1 million in 2024 and is expected to reach USD 25,146.8 million by 2030.
- The market is expected to grow at a CAGR (2025 - 2030) of 13.7% by 2030.
- In terms of segment, hydraulic power steering system accounted for a revenue of USD 4,858.6 million in 2024.
- Electro-Hydraulic 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 2024.
- Country-wise, India is expected to register the highest CAGR from 2025 to 2030.
Global data book summary
| Market revenue in 2024 | USD 11,775.1 million |
| Market revenue in 2030 | USD 25,146.8 million |
| Growth rate | 13.7% (CAGR from 2025 to 2030) |
| Largest segment | Hydraulic power steering system |
| Fastest growing segment | Electro-Hydraulic Power Steering System |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Electric Power Steering System, Hydraulic Power Steering System, Electro-Hydraulic Power Steering System |
Other key industry trends
- In terms of revenue, the North America accounted for 31.3% of the global active power steering market in 2024.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, India is the fastest growing regional market and is projected to reach USD 1,879.2 million by 2030.
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Active Power Steering Market Scope
Active power steering market segmentation & scope
Active Power Steering Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Nexteer Automotive Group Ltd | View profile | 12900 | 1272 Doris Road, Auburn Hills, MI, United States, 48326 | https://www.nexteer.com |
| Knorr-Bremse AG Bearer Shares | View profile | 33319 | Moosacher Strasse 80, Munich, BY, Germany, 80809 | https://www.knorr-bremse.com |
| Ognibene Power | View profile | 501-1000 | Raggio, Emilia-Romagna, Italy, Europe | https://www.ognibene.com/ |
| ZF Group | View profile | 10001+ | Friedrichshafen, Baden-Wurttemberg, Germany, Europe | http://zf.com |
| Volvo AB Class B | View profile | 104905 | Gropegardsgatan 2, Gothenburg, Sweden, 417 15 | https://www.volvogroup.com |
| NSK Ltd | View profile | 32668 | Nissei Building, 1-6-3 Ohsaki, Shinagawa-ku, Tokyo, Japan, 141-8560 | http://www.jp.nsk.com |
| Robert Bosch Engineering & Business Solutions | View profile | 10001+ | Bangalore, Karnataka, India, Asia | http://www.bosch-india-software.com |
| JTEKT Corp | View profile | 51087 | No. 7-1, Meieki 4-chome, Nakamura-ku, 15th floor, Aichi Prefecture, Nagoya, Japan, 450-8515 | http://www.jtekt.co.jp |
| Volkswagen AG | View profile | 656134 | Berliner Ring 2, Wolfsburg, NI, Germany, 38440 | https://www.volkswagenag.com |
| Thyssenkrupp AG | View profile | 100202 | ThyssenKrupp Allee 1, Essen, NW, Germany, 45143 | https://www.thyssenkrupp.com |
Global active power steering market size, by regions, 2018-2030 (US$M)
Top 10 countries: Active power steering market size, 2024 (US$M)
Global active power steering market share, by type, 2024 & 2030 (%, US$M)
Active power steering market: Opportunity assessment by country
Global active power steering market, by region, 2024 (US$M)
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