Global Automotive Electro-Hydraulic Steering Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Component (Steering Gear, Pump, Hoses, Reservoir Tank), By Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle), By Sales Channel (OEMs, Aftermarket) And By Geography - Forecasts From 2019 To 2024

The global automotive electro-hydraulic steering market is expected to grow at a CAGR of 1.81% during the forecast period, reaching a total market size of US$8.372 billion in 2024 from US$7.519 billion in 2018. This growth is attributed to the growing demand for better and more convenient steering systems which make the driving experience safer and efficient.

Power Steering systems are systems that provide assistance in steering to the driver making it easier Electro-hydraulic power steering system is abbreviated as EHPS and also known as a hybrid system because they use the same mechanism as the hydraulic power steering system but instead of the power coming from a pump which is driven by the engine, the pump is driven by the electric motor whose speed varies the amount of hydraulic pressure and is controlled by the ECU. The system uses valves to control the flow to the cylinder. The force the driver applies to the steering column is equal to the amount of force exerted by the fluid through the valves on the steered wheels. To measure the torque applied to the wheels a torque sensor is used which is fixed on the steering column. When the steering wheel starts to rotate, in turn, the steering column also rotates thus rotating the torsion bar which then twists according to the torque provided to it, this torque sensor sends the information to the ECU which then according to the steering angles, vehicle speed and steering force controls and operates the electric motor, which provides the hydraulic power thus assisting in steering.

At low speeds, the power supplied by the hydraulic pump is increased to assist in turning and steering operations whereas at high speeds it is reduced as much assistance is not required. There are key players who are involved in making investments and improvements in electro-hydraulic steering to make them more efficient. For example, a company Bosch has launched ServoTwin electro-hydraulic power steering for heavy commercial vehicles which would make the steering easier efficient, and exertion free, also instead of the hydraulic pump being powered by the engine, it would be powered by an electric motor.

Due to exertion while driving, the need for more advanced and safer driving and steering systems is increasing, as technological advancements are happening the industry is moving towards making driving less tedious, these factors are driving the market for electro-hydraulic steering.

By Vehicle Type

On the basis of vehicle type, the global automotive electro-hydraulic steering market is segmented as passenger vehicles, light commercial vehicles, heavy commercial vehicles, and others. Passenger vehicles hold a significant share in the market owing to the fact that their production and demand are more than other vehicles.

By Sales Channel

On the basis of the sales channel, the global automotive electro-hydraulic steering market can be segmented as OEMs and aftermarket. OEMs hold a notable amount of share in the market due to many cars that are produced these days come with an electro-hydraulic power steering.

By Geography

By geography, the global automotive electro-hydraulic steering market is segmented as North America, Europe, Middle East & Africa, Asia-Pacific, and South America. Asia-Pacific is estimated to hold a good amount of share in the market. Regions like China and India are good producers of automobiles and as the demand for more automobiles is rising, the demand for electro-hydraulic power steering is also increasing due to the need for better steering systems.

Competitive Landscape

The global automotive electro-hydraulic steering market is competitive owing to the presence of well-diversified international, regional and local players. The competitive landscape details strategies, products, and investments being done by key players in different technologies and companies to boost their market presence.

Global Automotive Electro-Hydraulic Steering Market Scope:

Segmentation

The global automotive electro-hydraulic steering market has been segmented by component, vehicle type, Sales Channel, and geography.

By Component

Steering Gear

Pump

Hoses

Reservoir Tank

By Vehicle Type

Passenger Vehicle

Light Commercial Vehicle

Heavy Commercial Vehicle

By Sales Channel

OEMs

Aftermarket

By Geography

North America

USA

Canada

Mexico

South America

Brazil

Argentina

Others

Europe

Germany

France

United Kingdom

Spain

Others

Middle East and Africa

Saudi Arabia

Israel

UAE

Others

Asia Pacific

China

Japan

South Korea

India

Others

Frequently Asked Questions (FAQs)

Q1. What will be the automotive electro-hydraulic steering market size by 2024?
A1. The global automotive electro-hydraulic steering market is expected to reach a total market size of US$8.372 billion in 2024.

Q2. What are the growth prospects for the automotive electro-hydraulic steering market?
A2. The automotive electro-hydraulic steering market is expected to grow at a CAGR of 1.81% during the forecast period.

Q3. What is the size of the global automotive electro-hydraulic steering market?
A3. Automotive Electro-Hydraulic Steering Market was valued at US$7.519 billion in 2018.

Q4. Which region holds the maximum market share of the automotive electro-hydraulic steering market?
A4.  Asia-Pacific is estimated to hold a significant amount of share in the automotive electro-hydraulic steering market.

Q5. What factors are anticipated to drive the automotive electro-hydraulic steering market growth?
A5. The automotive electro-hydraulic steering market growth is attributed to the growing demand for better and more convenient steering systems which make the driving experience safer and efficient.