Global Light-duty Truck Steering System Market Size & Outlook
The light-duty truck steering system industry worldwide is expected to reach a projected revenue of US$ 1,665.0 million by 2030. A compound annual growth rate of 2.3% is expected of the worldwide light-duty truck steering system industry from 2024 to 2030.
Revenue, 2023 (US$M)
$1,420.0
Forecast, 2030 (US$M)
$1,665.0
CAGR, 2024 - 2030
2.3%
Report Coverage
Worldwide
Global light-duty truck steering system market, 2018-2030 (US$M)
Related Markets
Global light-duty truck steering system market highlights
- The global light-duty truck steering system market generated a revenue of USD 1,420.0 million in 2023 and is expected to reach USD 1,665.0 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 2.3% by 2030.
- In terms of segment, hydraulic power steering (hps) accounted for a revenue of USD 1,420.0 million in 2023.
- Hydraulic Power Steering (HPS) is the most lucrative component segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
Global data book summary
| Market revenue in 2023 | USD 1,420.0 million |
| Market revenue in 2030 | USD 1,665.0 million |
| Growth rate | 2.3% (CAGR from 2023 to 2030) |
| Largest segment | Hydraulic power steering (hps) |
| Fastest growing segment | Hydraulic Power Steering (HPS) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hydraulic Power Steering (HPS) |
Other key industry trends
- In terms of revenue, the North America accounted for 19.5% of the global light-duty truck steering system market in 2023.
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Light-duty truck steering system market Scope
Light-duty truck steering system market segmentation & scope
Hydraulic Power Steering (HPS)
Electric Power Steering (EPS)
Electro-Hydraulic Power Steering (EHPS)
Light-duty truck steering system market
Vehicle Type
Pick-Up Truck
Vans
Sales Channel
OEM
Aftermarket
Countries
Argentina
Brazil
Denmark
France
Germany
Italy
Netherlands
Norway
Spain
Sweden
UK
Canada
Mexico
U.S.
Kuwait
Saudi Arabia
South Africa
UAE
Australia
China
India
Japan
South Korea
Light-duty truck steering system market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global light-duty truck steering system market size, by regions, 2018-2030 (US$M)
Related industry reports
Related regional statistics
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