Electrohydraulic Power Steering Market
The market for Electrohydraulic Power Steering was estimated at $18.3 billion in 2024; it is anticipated to increase to $27.9 billion by 2030, with projections indicating growth to around $39.7 billion by 2035.
Global Electrohydraulic Power Steering Market Outlook
Revenue, 2024
Forecast, 2034
CAGR, 2025 - 2034
The Electrohydraulic Power Steering industry revenue is expected to be around $19.6 billion in 2025 and expected to showcase growth with 7.3% CAGR between 2025 and 2034. The changing landscape of the electrohydraulic power steering market mirrors its increasing importance and the key factors driving its expansion forward. The significant influences such as emission regulations and concerns about fuel efficiency have played a crucial role in shaping the market direction. Additionally the rising popularity of driver assistance systems (ADAS) and self driving cars has highlighted electrohydraulic power steering as a prominent feature in the automotive sector enforcing its continuous significance. At the juncture of advancements and adherence to regulations the presence of electrohydraulic power steering becomes inevitable and essential, with the passage of time.
Electrohydraulic power steering is a technology merging the advantages of hydraulic and electric steering systems to offer drivers better fuel economy and precise control while reducing emissions significantly. This unique blend of features has led to its use in heavy duty vehicles as well as sports cars and off road vehicles across various automotive sectors. Furthermore the growing shift towards driving and the emphasis, on improved vehicle safety have fueled the increasing popularity of electrohydraulic power steering technology.
Market Key Insights
- The Electrohydraulic Power Steering market is projected to grow from $18.3 billion in 2024 to $37.0 billion in 2034. This represents a CAGR of 7.3%, reflecting rising demand across Automotive Vehicles, Commercial Heavy-Duty Vehicles and Agricultural Equipment.
- Bosch Limited, JTEKT Corporation, ZF Friedrichshafen AG are among the leading players in this market, shaping its competitive landscape.
- U.S. and Germany are the top markets within the Electrohydraulic Power Steering market and are expected to observe the growth CAGR of 4.7% to 7.0% between 2024 and 2030.
- Emerging markets including India, South Korea and Turkey are expected to observe highest growth with CAGR ranging between 8.4% to 10.1%.
- Transition like New Efficiency Standards is expected to add $1 billion to the Electrohydraulic Power Steering market growth by 2030.
- The Electrohydraulic Power Steering market is set to add $18.7 billion between 2024 and 2034, with manufacturer targeting Control Module & Sensors System Components projected to gain a larger market share.
- With Enhanced fuel efficiency, and Automated systems integration, Electrohydraulic Power Steering market to expand 102% between 2024 and 2034.