| Product Code: ETC13273509 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Dhaval Chaurasia | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Electrically-Powered Hydraulic Steering Market was valued at USD 1.2 Billion in 2024 and is expected to reach USD 1.9 Billion by 2031, growing at a compound annual growth rate of 6.70% during the forecast period (2025-2031).
The Global Electrically-Powered Hydraulic Steering Market is experiencing significant growth driven by the increasing demand for advanced steering systems in automotive applications. This technology combines the efficiency of electric power steering with the reliability and performance of hydraulic steering systems, offering improved handling, fuel efficiency, and overall driving experience. Factors such as the rising production of electric vehicles, focus on vehicle safety and automation, and advancements in steering technology are fueling the market growth. Major players in the market are investing in research and development to introduce innovative products and expand their market presence. Geographically, Asia Pacific is expected to dominate the market due to the presence of key automotive manufacturers and the increasing adoption of electric vehicles in the region.
The Global Electrically-Powered Hydraulic Steering Market is witnessing a surge in demand due to increasing emphasis on fuel efficiency and vehicle safety. Electrically-powered hydraulic steering systems offer improved performance, precision control, and reduced energy consumption compared to traditional hydraulic systems. The market is also being driven by the rising adoption of electric vehicles and autonomous driving technologies, which require advanced steering solutions. Opportunities lie in the development of more compact and lightweight steering systems, integration of advanced sensors and control algorithms for improved response and safety, and expanding applications across commercial vehicles and off-road vehicles. Manufacturers are focusing on innovation and strategic partnerships to capitalize on the growing demand for electrically-powered hydraulic steering systems in the automotive industry.
In the Global Electrically-Powered Hydraulic Steering Market, some challenges include high initial costs associated with the installation and maintenance of electrically-powered systems, as well as the need for specialized technical expertise for installation and servicing. Additionally, the complexity of integrating electrically-powered hydraulic steering systems into existing vehicle platforms can pose a challenge for manufacturers and may require significant design modifications. Market acceptance and adoption may also be hindered by concerns over reliability and safety compared to traditional hydraulic steering systems. Furthermore, the transition towards electrically-powered steering systems may face resistance from consumers and manufacturers who are accustomed to conventional hydraulic systems, impacting the overall market growth and penetration of electrically-powered hydraulic steering technologies.
The Global Electrically-Powered Hydraulic Steering Market is primarily driven by the increasing demand for fuel-efficient vehicles and the growing focus on enhancing vehicle safety features. Electrically-powered hydraulic steering systems offer improved fuel efficiency compared to traditional hydraulic systems, making them an attractive option for automakers seeking to meet stricter emissions regulations. Additionally, the integration of advanced driver assistance systems (ADAS) and autonomous driving technologies has spurred the adoption of electrically-powered hydraulic steering systems due to their ability to support these advanced features effectively. The rising sales of electric vehicles and the expanding automotive industry in emerging markets are also contributing to the growth of the market as electrically-powered hydraulic steering systems are becoming a key component in modern vehicle designs.
Government policies related to the Global Electrically-Powered Hydraulic Steering Market primarily focus on promoting the adoption of electric vehicles (EVs) to reduce greenhouse gas emissions and combat climate change. Many governments around the world are offering incentives such as tax credits, subsidies, and rebates to encourage consumers to purchase EVs equipped with electrically-powered hydraulic steering systems. Additionally, regulations mandating stricter fuel efficiency standards are driving automotive manufacturers to incorporate more efficient steering technologies in their vehicles. Government policies also aim to support research and development in the electric vehicle industry, leading to advancements in electrically-powered hydraulic steering systems to enhance performance and sustainability. Overall, the regulatory environment is favorable for the growth of the Global Electrically-Powered Hydraulic Steering Market as countries prioritize sustainable transportation solutions.
The Global Electrically-Powered Hydraulic Steering Market is expected to witness steady growth in the coming years due to increasing demand for efficient and reliable steering systems in the automotive industry. The market is projected to be driven by advancements in electric power steering technology, which offer improved fuel efficiency and enhanced driving experience. Additionally, the rising trend towards autonomous vehicles and electric vehicles is anticipated to further boost the demand for electrically-powered hydraulic steering systems. However, challenges such as high initial costs and complex integration processes may hinder market growth to some extent. Overall, the market is poised for growth opportunities with increasing focus on technological innovations and the shift towards more sustainable and eco-friendly transportation solutions.
In the global Electrically-Powered Hydraulic Steering market, Asia Pacific is expected to witness significant growth due to the rising automotive industry and increasing demand for advanced steering systems in countries like China, Japan, and India. North America is projected to dominate the market, driven by the presence of key market players and the high adoption rate of advanced automotive technologies. Europe is also a key region in the market, with stringent regulations promoting the use of electrically-powered steering systems for improved fuel efficiency and reduced emissions. The Middle East and Africa region is anticipated to show steady growth, supported by the increasing automotive production and rising investment in technological advancements. Latin America is likely to experience moderate growth owing to the expanding automotive sector in countries like Brazil and Mexico.
Global Electrically-Powered Hydraulic Steering Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Electrically-Powered Hydraulic Steering Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Electrically-Powered Hydraulic Steering Market Revenues & Volume, 2021 & 2031F |
3.3 Global Electrically-Powered Hydraulic Steering Market - Industry Life Cycle |
3.4 Global Electrically-Powered Hydraulic Steering Market - Porter's Five Forces |
3.5 Global Electrically-Powered Hydraulic Steering Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Electrically-Powered Hydraulic Steering Market Revenues & Volume Share, By Component Type, 2021 & 2031F |
3.7 Global Electrically-Powered Hydraulic Steering Market Revenues & Volume Share, By Vehicle Type, 2021 & 2031F |
4 Global Electrically-Powered Hydraulic Steering Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Electrically-Powered Hydraulic Steering Market Trends |
6 Global Electrically-Powered Hydraulic Steering Market, 2021 - 2031 |
6.1 Global Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Component Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Steering Column, 2021 - 2031 |
6.1.3 Global Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Sensors, 2021 - 2031 |
6.1.4 Global Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Steering Motor, 2021 - 2031 |
6.2 Global Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Passenger Cars, 2021 - 2031 |
6.2.3 Global Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Commercial vehicles, 2021 - 2031 |
6.3.1 Overview & Analysis |
7 North America Electrically-Powered Hydraulic Steering Market, Overview & Analysis |
7.1 North America Electrically-Powered Hydraulic Steering Market Revenues & Volume, 2021 - 2031 |
7.2 North America Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Component Type, 2021 - 2031 |
7.4 North America Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
8 Latin America (LATAM) Electrically-Powered Hydraulic Steering Market, Overview & Analysis |
8.1 Latin America (LATAM) Electrically-Powered Hydraulic Steering Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Component Type, 2021 - 2031 |
8.4 Latin America (LATAM) Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
9 Asia Electrically-Powered Hydraulic Steering Market, Overview & Analysis |
9.1 Asia Electrically-Powered Hydraulic Steering Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Component Type, 2021 - 2031 |
9.4 Asia Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
10 Africa Electrically-Powered Hydraulic Steering Market, Overview & Analysis |
10.1 Africa Electrically-Powered Hydraulic Steering Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Component Type, 2021 - 2031 |
10.4 Africa Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
11 Europe Electrically-Powered Hydraulic Steering Market, Overview & Analysis |
11.1 Europe Electrically-Powered Hydraulic Steering Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Component Type, 2021 - 2031 |
11.4 Europe Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
12 Middle East Electrically-Powered Hydraulic Steering Market, Overview & Analysis |
12.1 Middle East Electrically-Powered Hydraulic Steering Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Electrically-Powered Hydraulic Steering Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Component Type, 2021 - 2031 |
12.4 Middle East Electrically-Powered Hydraulic Steering Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
13 Global Electrically-Powered Hydraulic Steering Market Key Performance Indicators |
14 Global Electrically-Powered Hydraulic Steering Market - Export/Import By Countries Assessment |
15 Global Electrically-Powered Hydraulic Steering Market - Opportunity Assessment |
15.1 Global Electrically-Powered Hydraulic Steering Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Electrically-Powered Hydraulic Steering Market Opportunity Assessment, By Component Type, 2021 & 2031F |
15.3 Global Electrically-Powered Hydraulic Steering Market Opportunity Assessment, By Vehicle Type, 2021 & 2031F |
16 Global Electrically-Powered Hydraulic Steering Market - Competitive Landscape |
16.1 Global Electrically-Powered Hydraulic Steering Market Revenue Share, By Companies, 2024 |
16.2 Global Electrically-Powered Hydraulic Steering Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |
Export potential enables firms to identify high-growth global markets with greater confidence by combining advanced trade intelligence with a structured quantitative methodology. The framework analyzes emerging demand trends and country-level import patterns while integrating macroeconomic and trade datasets such as GDP and population forecasts, bilateral import–export flows, tariff structures, elasticity differentials between developed and developing economies, geographic distance, and import demand projections. Using weighted trade values from 2020–2024 as the base period to project country-to-country export potential for 2030, these inputs are operationalized through calculated drivers such as gravity model parameters, tariff impact factors, and projected GDP per-capita growth. Through an analysis of hidden potentials, demand hotspots, and market conditions that are most favorable to success, this method enables firms to focus on target countries, maximize returns, and global expansion with data, backed by accuracy.
By factoring in the projected importer demand gap that is currently unmet and could be potential opportunity, it identifies the potential for the Exporter (Country) among 190 countries, against the general trade analysis, which identifies the biggest importer or exporter.
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