Electrically Powered Hydraulic Steering Market Share

Market Share of Electrically Powered Hydraulic Steering Industry

Electrically-Powered Hydraulic Steering Market is dominated by several key players such as JTEKT Corporation, Nexteer Automotive Group Ltd, ZF Friedrichshafen AG, NSK Ltd, and Others. The rapid expansion of automotive component manufacturers across the globe is likely to witness major growth for the market during the forecast period. For instance,

• In May 2023, NSK Ltd. expanded its research and development facility in China. Through this expansion, the company expanded its product portfolio across the country.
• In January 2022, Bosch and the Volkswagen Group subsidiary Cariad are now collaborating to achieve this objective and agreed to form an extensive partnership. The companies want to make partially and highly automated driving suitable for volume production and thus available to the broad mass of consumers. For the vehicles sold under the Volkswagen Group brands, the alliance aims to make functions available that will allow drivers to temporarily take their hands off the steering wheel.

Electrically Powered Hydraulic Steering Market Leaders

1. Nexteer Automotive

2. JTEKT Corporation

3. NSK Ltd.

4. Robert Bosch GmbH

5. ZF Friedrichshafen AG

*Disclaimer: Major Players sorted in no particular order