Asia Pacific Active Power Steering Market Size & Outlook
The active power steering market in Asia Pacific is expected to reach a projected revenue of US$ 8,356.9 million by 2030. A compound annual growth rate of 16.5% is expected of Asia Pacific active power steering market from 2025 to 2030.
Revenue, 2024 (US$M)
$3,389.0
Forecast, 2030 (US$M)
$8,356.9
CAGR, 2025 - 2030
16.5%
Report Coverage
Asia Pacific
Asia Pacific active power steering market, 2018-2030 (US$M)
Asia Pacific active power steering market highlights
- The Asia Pacific active power steering market generated a revenue of USD 2,963.2 million in 2023.
- The market is expected to grow at a CAGR of 16% from 2024 to 2030.
- In terms of segment, electric power steering system was the largest revenue generating type in 2023.
- Electric Power Steering System is the most lucrative type segment registering the fastest growth during the forecast period.
Asia Pacific data book summary
| Market revenue in 2023 | USD 2,963.2 million |
| Market revenue in 2030 | USD 8,357.0 million |
| Growth rate | 16% (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 |
| Key market players worldwide | Ognibene Power, Robert Bosch Engineering & Business Solutions, Knorr-Bremse AG Bearer Shares, Volvo AB Class B, ZF Group, NSK Ltd, Nexteer Automotive Group Ltd, Volkswagen AG, JTEKT Corp, Thyssenkrupp AG |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 28.1% of the global active power steering market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 8,357.0 million by 2030.
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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 |
|---|
Asia Pacific active power steering market size, by country, 2018-2030 (US$M)
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