The global Automotive Power Steering market size was valued at US$ 12.78 billion in 2024 and is projected to reach US$ 16.54 billion by 2030, at a CAGR of 4.4% during the forecast period 2024-2030.
The United States Automotive Power Steering market size was valued at US$ 2.87 billion in 2024 and is projected to US$ 3.62 billion by 2030, at a CAGR of 4.0% during the forecast period 2024-2030.
Market Segmentation (by Type)
Hydraulic Power Steering
Electric Power Steering
Others
Market Segmentation (by Application)
Passenger Cars
Commercial Vehicles
Global Automotive Power Steering Market: Market Segmentation Analysis
The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.