Market Size of Power Steering Fluids Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Power Steering Fluids Market Analysis
The global market for power steering fluids is expected to register a CAGR of about 3% during the forecast period. Light commercial vehicles application is expected to dominate the market studied 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.
