Global Active Power Steering Market Size & Outlook
The active power steering industry worldwide is expected to reach a projected revenue of US$ 25,146.8 million by 2030. A compound annual growth rate of 13.7% is expected of the worldwide active power steering industry 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)
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
Countries
U.S.
Canada
Mexico
UK
Germany
France
China
India
Japan
South Korea
Australia
Brazil
Saudi Arabia
UAE
South Africa
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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