Power Steering Fluids Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Market is Segmented by Type (Synthetic Oil, Mineral Oil, and Other), Application (Light Commercial Vehicles, Passenger Car, and Heavy Commercial Vehicles), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

Power Steering Fluids Market Size

Power Steering Fluids Market - Summary

Compare market size and growth of Power Steering Fluids Market with other markets in Chemicals & Materials Industry

Power Steering Fluids Market Analysis

The Power Steering Fluids Market is expected to register a CAGR of greater than 3% during the forecast period.

  • The slowdown in global automotive production and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
  • The Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period, owing to the huge consumption from countries, such as China, India, and Japan.

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to account for the largest market for power steering fluids during the forecast period.
  • China is the largest manufacturer of automobiles in the world. The automotive sector in China has been shaping up for product evolution, with the country focusing on manufacturing products, to ensure fuel economy and minimize emissions, owing to the increasing environmental concerns due to mounting pollution in the country.
  • However, the market witnessed a shrink in 2018, as the production decreased in 2019. According to the Chinese Association of Automobile Manufacturers (CAAM), after nearly 20 years of growth, the automotive sector in the country has been decreasing in recent times.
  • The Indian automotive sector faced a crisis, owing to several problems. Factors, like the increased costs of ownership, and overall weak economy affecting the demand, and severe floods in some states, worsened the industry's prospects.
  • Moreover, lower-income growth and slow job creation have led to weak demand for automotive in the country. This weak demand has slowed down the production, and in turn, is expected to hinder the demand for the market studied during the short term.
  • Therefore, the slowdown in the automotive industry in countries of the Asia-Pacific region is expected to hamper the growth of the market studied during the forecast period.
Power Steering Fluids Market Regional Trends

Power Steering Fluids Industry Overview

The global power steering fluids market is partially fragmented. The major companies of the market studied include Lucas Oil Products Inc., BARDAHL, Exxon Mobil Corporation, Energizer Auto, and FUCHS, among others.

Power Steering Fluids Market Leaders

  1. Lucas Oil Products, Inc.

  2. BARDAHL

  3. Exxon Mobil Corporation

  4. Energizer Auto

  5. FUCHS

  6. *Disclaimer: Major Players sorted in no particular order
Market Concentration - Power Steering Fluids Market.png
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Power Steering Fluids Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Drivers
  • 4.2 Restraints
    • 4.2.1 Slowdown in the Global Automotive Production
    • 4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
  • 4.3 Industry Value Chain Analysis
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Consumers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products and Services
    • 4.4.5 Degree of Competition

5. MARKET SEGMENTATION

  • 5.1 Product Type
    • 5.1.1 Synthetic Oil
    • 5.1.2 Mineral Oil
    • 5.1.3 Others
  • 5.2 Application
    • 5.2.1 Light Commercial Vehicles
    • 5.2.2 Passenger Cars
    • 5.2.3 Heavy Commercial Vehicles
  • 5.3 Geography
    • 5.3.1 Asia-Pacific
    • 5.3.1.1 China
    • 5.3.1.2 India
    • 5.3.1.3 Japan
    • 5.3.1.4 South Korea
    • 5.3.1.5 ASEAN Countries
    • 5.3.1.6 Rest of Asia-Pacific
    • 5.3.2 North America
    • 5.3.2.1 United States
    • 5.3.2.2 Canada
    • 5.3.2.3 Mexico
    • 5.3.3 Europe
    • 5.3.3.1 Germany
    • 5.3.3.2 United Kingdom
    • 5.3.3.3 Italy
    • 5.3.3.4 France
    • 5.3.3.5 Russia
    • 5.3.3.6 Spain
    • 5.3.3.7 Turkey
    • 5.3.3.8 Czech Republic
    • 5.3.3.9 Rest of Europe
    • 5.3.4 South America
    • 5.3.4.1 Brazil
    • 5.3.4.2 Argentina
    • 5.3.4.3 Rest of South America
    • 5.3.5 Middle-East and Africa
    • 5.3.5.1 Iran
    • 5.3.5.2 South Africa
    • 5.3.5.3 Rest of Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Market Share (%)/Ranking Analysis**
  • 6.3 Strategies Adopted by Leading Players
  • 6.4 Company Profiles
    • 6.4.1 AIROSOL COMPANY INC.
    • 6.4.2 AMSOIL INC.
    • 6.4.3 BARDAHL
    • 6.4.4 Energizer Auto
    • 6.4.5 Exxon Mobil Corporation
    • 6.4.6 FUCHS
    • 6.4.7 Gulf Oil Lubricants India Ltd
    • 6.4.8 Lucas Oil Products Inc.
    • 6.4.9 Penrite Oil
    • 6.4.10 Recochem Inc.
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Power Steering Fluids Industry Segmentation

The Power Steering Fluids market report includes:

Product Type Synthetic Oil
Mineral Oil
Others
Application Light Commercial Vehicles
Passenger Cars
Heavy Commercial Vehicles
Geography Asia-Pacific China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America United States
Canada
Mexico
Europe Germany
United Kingdom
Italy
France
Russia
Spain
Turkey
Czech Republic
Rest of Europe
South America Brazil
Argentina
Rest of South America
Middle-East and Africa Iran
South Africa
Rest of Middle-East and Africa
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Power Steering Fluids Market Research FAQs

What is the current Power Steering Fluids Market size?

The Power Steering Fluids Market is projected to register a CAGR of greater than 3% during the forecast period (2025-2030)

Who are the key players in Power Steering Fluids Market?

Lucas Oil Products, Inc., BARDAHL, Exxon Mobil Corporation, Energizer Auto and FUCHS are the major companies operating in the Power Steering Fluids Market.

Which is the fastest growing region in Power Steering Fluids Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Power Steering Fluids Market?

In 2025, the Asia Pacific accounts for the largest market share in Power Steering Fluids Market.

What years does this Power Steering Fluids Market cover?

The report covers the Power Steering Fluids Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Power Steering Fluids Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

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Power Steering Fluids Industry Report

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Power Steering Fluids Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)