Market Size of North America Electrically Powered Hydraulic Steering Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Medium |
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*Disclaimer: Major Players sorted in no particular order |
North America Electrically Powered Hydraulic Steering Market Analysis
The North America electro-hydraulic power steering market is anticipated to register a CAGR of over 6% during the forecast period (2020-2025).
- As most vehicles nowadays have become heavier and switched to front-wheel drive, along with an increase in tire diameter and width, the effort needed to turn the steering wheel manually would also increase. To reduce the manual effort, power steering or rather power-assisted steering were introduced to assist the driver.
- Some of the advantages of power steering are its adjustable speed characteristic, where the steering is assisted more at low speed and assisted lightly at high speed to increase the control over the vehicle. This feature has gradually become a commonplace across all new vehicles. Of the different types of steering systems available nowadays, electro-hydraulic power steering is one of them.
- Electro-hydraulic hybrid systems allow conventional hydraulic steering to run without the need of an engine-driven hydraulic pump. The hydraulic pressure instead is supplied by an electric motor pump unit that does not draw power from the engine. This concept is particularly helpful in vehicles that utilize conventional hydraulic steering as a basic technology but are also offered for hybrid-electric vehicle variants.
North America Electrically Powered Hydraulic Steering Industry Segmentation
The North America electro-hydraulic power steering market covers the latest trends and technological development and market demand by vehicle type, component, country, and market share of major automotive electro-hydraulic power steering market manufacturing companies across North America.
| By Type | |
| Column Type, | |
| Pinion Type | |
| Dual Pinion Type |
| By Component Type | |
| Steering Motor | |
| Sensor | |
| Other Components |
| By Vehicle Type | |
| Passenger Vehicles | |
| Commercial Vehicles |
| By Country | |
| United States | |
| Canada | |
| Mexico | |
| Rest of North America |
North America Electrically Powered Hydraulic Steering Market Size Summary
The North America electro-hydraulic power steering market is poised for significant growth, driven by the increasing weight of vehicles and the shift towards front-wheel drive systems. As vehicles become heavier and tire dimensions expand, the manual effort required for steering has increased, necessitating the adoption of power-assisted steering systems. Electro-hydraulic power steering, which utilizes an electric motor pump unit to supply hydraulic pressure without drawing power from the engine, offers advantages such as adjustable speed characteristics and improved fuel efficiency. This technology is particularly beneficial for hybrid-electric vehicles, allowing for enhanced control and reduced energy consumption compared to traditional hydraulic systems.
The market is characterized by the presence of major players like JTEKT Corporation, Nexteer Automotive Group Ltd, ZF Friedrichshafen AG, NSK Ltd, and Robert Bosch GmbH, who maintain strong partnerships with original equipment manufacturers (OEMs). Despite the growing interest in electric power steering systems, which are more efficient and less complex, electro-hydraulic systems continue to be widely used in commercial vehicles across North America. The region's substantial market for heavy trucks, construction, and agricultural machinery supports the demand for electro-hydraulic power steering systems, with ongoing innovations expected to drive market expansion over the forecast period.
North America Electrically Powered Hydraulic Steering Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Column Type,
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2.1.2 Pinion Type
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2.1.3 Dual Pinion Type
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2.2 By Component Type
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2.2.1 Steering Motor
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2.2.2 Sensor
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2.2.3 Other Components
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2.3 By Vehicle Type
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2.3.1 Passenger Vehicles
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2.3.2 Commercial Vehicles
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2.4 By Country
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2.4.1 United States
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2.4.2 Canada
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2.4.3 Mexico
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2.4.4 Rest of North America
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North America Electrically Powered Hydraulic Steering Market Size FAQs
What is the current North America Electrically Powered Hydraulic Steering Market size?
The North America Electrically Powered Hydraulic Steering Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
What years does this North America Electrically Powered Hydraulic Steering Market cover?
The report covers the North America Electrically Powered Hydraulic Steering Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Electrically Powered Hydraulic Steering Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
