Europe Active Power Steering Market Size & Outlook
The active power steering market in Europe is expected to reach a projected revenue of US$ 6,987.1 million by 2030. A compound annual growth rate of 15% is expected of Europe active power steering market from 2025 to 2030.
Revenue, 2024 (US$M)
$3,063.1
Forecast, 2030 (US$M)
$6,987.1
CAGR, 2025 - 2030
15%
Report Coverage
Europe
Related Markets
Europe active power steering market highlights
- The Europe active power steering market generated a revenue of USD 3,063.1 million in 2024.
- The market is expected to grow at a CAGR of 15% from 2025 to 2030.
- In terms of segment, hydraulic power steering system was the largest revenue generating type in 2024.
- Electro-Hydraulic Power Steering System is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, UK is expected to register the highest CAGR from 2025 to 2030.
Europe data book summary
| Market revenue in 2024 | USD 3,063.1 million |
| Market revenue in 2030 | USD 6,987.1 million |
| Growth rate | 15% (CAGR from 2025 to 2030) |
| Largest segment | Hydraulic power steering system |
| Fastest growing segment | Electro-Hydraulic Power Steering System |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Electric Power Steering System, Hydraulic Power Steering System, Electro-Hydraulic Power Steering System |
| Key market players worldwide | Ognibene Power, Robert Bosch Engineering & Business Solutions, Knorr-Bremse AG Bearer Shares, Volvo AB Class B, ZF Group, NSK Ltd, Nexteer Automotive Group Ltd, Volkswagen AG, JTEKT Corp, Thyssenkrupp AG |
Other key industry trends
- In terms of revenue, Europe region accounted for 26.0% of the global active power steering market in 2024.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 8,356.9 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Active Power Steering Market Scope
Active power steering market segmentation & scope
Active Power Steering Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Nexteer Automotive Group Ltd | View profile | 12900 | 1272 Doris Road, Auburn Hills, MI, United States, 48326 | https://www.nexteer.com |
| Knorr-Bremse AG Bearer Shares | View profile | 33319 | Moosacher Strasse 80, Munich, BY, Germany, 80809 | https://www.knorr-bremse.com |
| Ognibene Power | View profile | 501-1000 | Raggio, Emilia-Romagna, Italy, Europe | https://www.ognibene.com/ |
| ZF Group | View profile | 10001+ | Friedrichshafen, Baden-Wurttemberg, Germany, Europe | http://zf.com |
| Volvo AB Class B | View profile | 104905 | Gropegardsgatan 2, Gothenburg, Sweden, 417 15 | https://www.volvogroup.com |
| NSK Ltd | View profile | 32668 | Nissei Building, 1-6-3 Ohsaki, Shinagawa-ku, Tokyo, Japan, 141-8560 | http://www.jp.nsk.com |
| Robert Bosch Engineering & Business Solutions | View profile | 10001+ | Bangalore, Karnataka, India, Asia | http://www.bosch-india-software.com |
| JTEKT Corp | View profile | 51087 | No. 7-1, Meieki 4-chome, Nakamura-ku, 15th floor, Aichi Prefecture, Nagoya, Japan, 450-8515 | http://www.jtekt.co.jp |
| Volkswagen AG | View profile | 656134 | Berliner Ring 2, Wolfsburg, NI, Germany, 38440 | https://www.volkswagenag.com |
| Thyssenkrupp AG | View profile | 100202 | ThyssenKrupp Allee 1, Essen, NW, Germany, 45143 | https://www.thyssenkrupp.com |
Europe active power steering market size, by country, 2018-2030 (US$M)
Europe Active Power Steering Market Outlook Share, 2024 & 2030 (US$M)
Related industry reports
Related statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
