Europe Active Power Steering Market Size & Outlook
The active power steering market in Europe is expected to reach a projected revenue of US$ 6,987.1 million by 2030. A compound annual growth rate of 15% is expected of Europe active power steering market from 2025 to 2030.
Revenue, 2024 (US$M)
$3,063.1
Forecast, 2030 (US$M)
$6,987.1
CAGR, 2025 - 2030
15%
Report Coverage
Europe
Europe active power steering market, 2018-2030 (US$M)
Europe active power steering market highlights
- The Europe active power steering market generated a revenue of USD 2,713.4 million in 2023.
- The market is expected to grow at a CAGR of 14.5% 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.
Europe data book summary
| Market revenue in 2023 | USD 2,713.4 million |
| Market revenue in 2030 | USD 6,987.1 million |
| Growth rate | 14.5% (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, Europe region accounted for 25.7% 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.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
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 |
|---|
Europe active power steering market size, by country, 2018-2030 (US$M)
Related industry reports
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
