North America Electro Hydraulic Power Steering Market Size

Statistics for the 2023 & 2024 North America Electro Hydraulic Power Steering market size, created by Mordor Intelligence™ Industry Reports. North America Electro Hydraulic Power Steering size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of North America Electro Hydraulic Power Steering Industry

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Market_Overview
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR > 8.00 %
Market Concentration Medium

Major Players

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*Disclaimer: Major Players sorted in no particular order

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North America Electro Hydraulic Power Steering Market Analysis

The North America electro-hydraulic power steering market is anticipated to register a CAGR of over 7% 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 Electro-Hydraulic Power Steering Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)