Active Power Steering Market Size, Share, Trends, Growth Outlook

Active Power Steering Market is estimated to increase at a growth rate of 7.2% CAGR over the forecast period from 2024 to 2030.

The global Active Power Steering Market study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments including By Type (Combined with Electric Steering Systems, Combined with Hydraulic Power Steering Systems), By Application (Light Trucks, Medium Trucks, Heavy Trucks, Buses, Others), By Sensor (Torque Sensor, Rotational Angle Sensor, Vehicle Speed Sensor), By Vehicle (Light Commercial Vehicle (LCV), Medium Commercial Vehicles (MCV), Heavy Commercial Vehicle (HCV)).

An Introduction to Global Active Power Steering Market, 2024

Active Power Steering (APS) systems represent a significant advancement in automotive steering technology, offering dynamic control and responsiveness to enhance vehicle handling, stability, and maneuverability. Unlike conventional hydraulic power steering systems, APS utilizes electric motors and sensors to adjust steering assistance in real-time, based on driving conditions, speed, and driver input. The market for APS is witnessing rapid growth, driven by the escalating demand for fuel-efficient and autonomous vehicles, as well as the increasing focus on enhancing driving dynamics and safety. Manufacturers are investing in research and development to develop advanced APS systems capable of integrating with other vehicle systems, such as adaptive cruise control and lane-keeping assist, to provide seamless driving experiences. Moreover, the rising trend of steer-by-wire technology and the transition towards electric and hybrid vehicles are expected to further propel the adoption of APS systems, reshaping the automotive steering landscape.

Active Power Steering Competitive Landscape

The global Active Power Steering market is highly competitive with a large number of companies focusing on niche market segments. Amidst intense competitive conditions, Active Power Steering Companies are investing in new product launches and strengthening distribution channels. Key companies operating in the Active Power Steering Market Industry include- AB Volvo, ABSKF, activepowersteering.com.au, BMW AG, Knorr-Bremse AG, Nexteer Automotive Corp, NSK Ltd, Ognibene Power SPA, Robert Bosch GmbH, Volkswagen AG.

Active Power Steering Market Trend: Integration of Advanced Driver Assistance Systems (ADAS)

The Active Power Steering Market is witnessing a prominent trend driven by the integration of advanced driver assistance systems (ADAS) in modern vehicles. With the automotive industry undergoing a significant transformation towards autonomous driving and enhanced safety features, there is a growing demand for intelligent steering systems capable of seamlessly integrating with ADAS technologies. Active power steering systems are increasingly being equipped with sensors, actuators, and control algorithms to enable functionalities such as lane-keeping assistance, adaptive cruise control, and automated parking. This trend reflects the industry's shift towards smarter, more intuitive steering solutions that enhance vehicle maneuverability, stability, and safety in various driving scenarios.

Active Power Steering Market Driver: Demand for Fuel Efficiency and Vehicle Performance

The demand for fuel efficiency and vehicle performance is a major driver fueling the growth of the Active Power Steering Market. As consumers become more conscious of environmental concerns and fuel costs, automakers are under pressure to develop vehicles that offer both superior fuel economy and dynamic driving experiences. Active power steering systems play a crucial role in optimizing vehicle efficiency by reducing parasitic losses associated with traditional hydraulic steering systems and improving overall vehicle handling and responsiveness. Additionally, advancements in electric power steering (EPS) technology have led to the development of more efficient and precise steering systems that enhance fuel economy while delivering a smoother and more engaging driving experience. This driver underscores the importance of active power steering solutions in meeting the evolving demands of modern vehicle performance and efficiency standards.

Active Power Steering Market Opportunity: Expansion in Autonomous Vehicle Market

An opportunity for significant expansion in the Active Power Steering Market lies within the autonomous vehicle segment. As the automotive industry moves towards full autonomy, there is a growing need for advanced steering systems capable of supporting self-driving functionalities. Active power steering systems equipped with sophisticated control algorithms and redundant safety mechanisms are essential components in autonomous vehicle platforms, providing precise control and maneuverability in various driving conditions. Moreover, these steering systems play a critical role in enhancing the safety and reliability of autonomous vehicles by ensuring accurate trajectory control and obstacle avoidance. As automakers and technology companies continue to invest in the development of autonomous driving technologies, there exists a significant opportunity for active power steering manufacturers to innovate and collaborate in this rapidly evolving market segment, shaping the future of mobility.

Active Power Steering Market Segmentation

By Type
Combined with Electric Steering Systems
Combined with Hydraulic Power Steering Systems
By Application
Light Trucks
Medium Trucks
Heavy Trucks
Buses
Others
By Sensor
Torque Sensor
Rotational Angle Sensor
Vehicle Speed Sensor
By Vehicle
Light Commercial Vehicle (LCV)
Medium Commercial Vehicles (MCV)
Heavy Commercial Vehicle (HCV)Geographical Analysis
North America (United States, Canada, Mexico)
Europe (Germany, France, United Kingdom, Spain, Italy, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa

Active Power Steering Companies

AB Volvo
ABSKF
activepowersteering.com.au
BMW AG
Knorr-Bremse AG
Nexteer Automotive Corp
NSK Ltd
Ognibene Power SPA
Robert Bosch GmbH
Volkswagen AG
*- List not Exhaustive

TABLE OF CONTENTS

1 Introduction to 2024 Active Power Steering Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Analyzed
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain

2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations

3 Executive Summary
3.1 Global Active Power Steering Market Size Outlook, $ Million, 2021 to 2030
3.2 Active Power Steering Market Outlook by Type, $ Million, 2021 to 2030
3.3 Active Power Steering Market Outlook by Product, $ Million, 2021 to 2030
3.4 Active Power Steering Market Outlook by Application, $ Million, 2021 to 2030
3.5 Active Power Steering Market Outlook by Key Countries, $ Million, 2021 to 2030

4 Market Dynamics
4.1 Key Driving Forces of Active Power Steering Industry
4.2 Key Market Trends in Active Power Steering Industry
4.3 Potential Opportunities in Active Power Steering Industry
4.4 Key Challenges in Active Power Steering Industry

5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Active Power Steering Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook

6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts

7 Global Active Power Steering Market Outlook by Segments
7.1 Active Power Steering Market Outlook by Segments, $ Million, 2021- 2030
By Type
Combined with Electric Steering Systems
Combined with Hydraulic Power Steering Systems
By Application
Light Trucks
Medium Trucks
Heavy Trucks
Buses
Others
By Sensor
Torque Sensor
Rotational Angle Sensor
Vehicle Speed Sensor
By Vehicle
Light Commercial Vehicle (LCV)
Medium Commercial Vehicles (MCV)
Heavy Commercial Vehicle (HCV)

8 North America Active Power Steering Market Analysis and Outlook To 2030
8.1 Introduction to North America Active Power Steering Markets in 2024
8.2 North America Active Power Steering Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Active Power Steering Market size Outlook by Segments, 2021-2030
By Type
Combined with Electric Steering Systems
Combined with Hydraulic Power Steering Systems
By Application
Light Trucks
Medium Trucks
Heavy Trucks
Buses
Others
By Sensor
Torque Sensor
Rotational Angle Sensor
Vehicle Speed Sensor
By Vehicle
Light Commercial Vehicle (LCV)
Medium Commercial Vehicles (MCV)
Heavy Commercial Vehicle (HCV)

9 Europe Active Power Steering Market Analysis and Outlook To 2030
9.1 Introduction to Europe Active Power Steering Markets in 2024
9.2 Europe Active Power Steering Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Active Power Steering Market Size Outlook by Segments, 2021-2030
By Type
Combined with Electric Steering Systems
Combined with Hydraulic Power Steering Systems
By Application
Light Trucks
Medium Trucks
Heavy Trucks
Buses
Others
By Sensor
Torque Sensor
Rotational Angle Sensor
Vehicle Speed Sensor
By Vehicle
Light Commercial Vehicle (LCV)
Medium Commercial Vehicles (MCV)
Heavy Commercial Vehicle (HCV)

10 Asia Pacific Active Power Steering Market Analysis and Outlook To 2030
10.1 Introduction to Asia Pacific Active Power Steering Markets in 2024
10.2 Asia Pacific Active Power Steering Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Active Power Steering Market size Outlook by Segments, 2021-2030
By Type
Combined with Electric Steering Systems
Combined with Hydraulic Power Steering Systems
By Application
Light Trucks
Medium Trucks
Heavy Trucks
Buses
Others
By Sensor
Torque Sensor
Rotational Angle Sensor
Vehicle Speed Sensor
By Vehicle
Light Commercial Vehicle (LCV)
Medium Commercial Vehicles (MCV)
Heavy Commercial Vehicle (HCV)

11 South America Active Power Steering Market Analysis and Outlook To 2030
11.1 Introduction to South America Active Power Steering Markets in 2024
11.2 South America Active Power Steering Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Active Power Steering Market size Outlook by Segments, 2021-2030
By Type
Combined with Electric Steering Systems
Combined with Hydraulic Power Steering Systems
By Application
Light Trucks
Medium Trucks
Heavy Trucks
Buses
Others
By Sensor
Torque Sensor
Rotational Angle Sensor
Vehicle Speed Sensor
By Vehicle
Light Commercial Vehicle (LCV)
Medium Commercial Vehicles (MCV)
Heavy Commercial Vehicle (HCV)

12 Middle East and Africa Active Power Steering Market Analysis and Outlook To 2030
12.1 Introduction to Middle East and Africa Active Power Steering Markets in 2024
12.2 Middle East and Africa Active Power Steering Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Active Power Steering Market size Outlook by Segments, 2021-2030
By Type
Combined with Electric Steering Systems
Combined with Hydraulic Power Steering Systems
By Application
Light Trucks
Medium Trucks
Heavy Trucks
Buses
Others
By Sensor
Torque Sensor
Rotational Angle Sensor
Vehicle Speed Sensor
By Vehicle
Light Commercial Vehicle (LCV)
Medium Commercial Vehicles (MCV)
Heavy Commercial Vehicle (HCV)

13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
List of Companies
AB Volvo
ABSKF
activepowersteering.com.au
BMW AG
Knorr-Bremse AG
Nexteer Automotive Corp
NSK Ltd
Ognibene Power SPA
Robert Bosch GmbH
Volkswagen AG

14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise

By Type
Combined with Electric Steering Systems
Combined with Hydraulic Power Steering Systems
By Application
Light Trucks
Medium Trucks
Heavy Trucks
Buses
Others
By Sensor
Torque Sensor
Rotational Angle Sensor
Vehicle Speed Sensor
By Vehicle
Light Commercial Vehicle (LCV)
Medium Commercial Vehicles (MCV)
Heavy Commercial Vehicle (HCV)