Market Size of India Electro Hydraulic Power Steering Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | < 10.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Electro Hydraulic Power Steering Market Analysis
The electro-hydraulic power steering market is anticipated to register a CAGR of over 6% during the forecast period.
- The Indian economy is growing, and the disposable incomes of the middle-class consumers are also increasing. This, in turn, reflects positively on the rising demand for vehicles. Over the past five years, owing to the low production costs in the country, vehicle production has gone up drastically. Due to the hike in vehicle production, the electro-hydraulic power steering market also experienced growth.
- Launch of new vehicles are also expected to drive the growth of the automotive electro-hydraulic power steering market in India. However, the introduction of electric power steering technology in luxury cars can result in a decrease in revenue generated from electro-hydraulic power steering systems in India, over the next decade.
