Europe Light-duty Truck Steering System Market Size & Outlook
The light-duty truck steering system market in Europe is expected to reach a projected revenue of US$ 451.7 million by 2030. A compound annual growth rate of 2.3% is expected of Europe light-duty truck steering system market from 2024 to 2030.
Revenue, 2023 (US$M)
$386.2
Forecast, 2030 (US$M)
$451.7
CAGR, 2024 - 2030
2.3%
Report Coverage
Europe
Europe light-duty truck steering system market, 2018-2030 (US$M)
Related Markets
Europe light-duty truck steering system market highlights
- The Europe light-duty truck steering system market generated a revenue of USD 386.2 million in 2023.
- The market is expected to grow at a CAGR of 2.3% from 2024 to 2030.
- In terms of segment, hydraulic power steering (hps) was the largest revenue generating component in 2023.
- Hydraulic Power Steering (HPS) is the most lucrative component segment registering the fastest growth during the forecast period.
Europe data book summary
| Market revenue in 2023 | USD 386.2 million |
| Market revenue in 2030 | USD 451.7 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) |
| Key market players worldwide | Robert Bosch Engineering & Business Solutions, JTEKT Corp, Nexteer Automotive Group Ltd, Knorr-Bremse AG ADR, NSK Ltd, Thyssenkrupp AG, Showa, Mando Corporation, TRW Automotive Holdings |
Other key industry trends
- In terms of revenue, Europe region accounted for 27.2% of the global light-duty truck steering system 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 721.6 million by 2030.
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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 |
|---|
Europe light-duty truck steering system market
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