Global Electrically-Powered Hydraulic Steering Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

• In October 2020, BorgWarner acquired Delphi Technologies in a USD 3.3 billion stock deal. The deal is expected to strengthen BorgWarner’s electronics and power electronics product portfolio, capabilities, and scale, creating a leader in electrified propulsion.

• In May 2020, ZF Friedrichshafen AG acquired WABCO in a USD 7 billion deal. WABCO is now integrated into ZF as its Commercial Vehicle Control Systems Division, and ZF and WABCO will form global integrated systems for commercial vehicle technology. WABCO and ZF had earlier partnered for developing systems such as Evasive Maneuver Assist for collision mitigation in commercial vehicles. WABCO had also been a critical supplier of braking systems to ZF.

The Global Electrically-Powered Hydraulic Steering Market encompasses a variety of components and systems that contribute to its functionality and application across different vehicle types. The segmentation by type includes steering wheel/column, sensors, steering motor, and other related components. The steering wheel/column serves as the interface between the driver and the vehicle's steering system, providing control and feedback during driving maneuvers. Sensors play a crucial role in detecting steering input, vehicle dynamics, and environmental conditions, providing essential data for the steering system to adjust accordingly. The steering motor is the heart of the electrically-powered hydraulic steering system, delivering power assistance to the steering mechanism based on sensor inputs and driver commands. Other components, such as hydraulic pumps, fluid reservoirs, and electronic control units, complement the core steering components, ensuring smooth and efficient operation of the system.

The segmentation by system distinguishes between passenger cars and commercial vehicles, reflecting the diverse applications and requirements across different vehicle segments. In passenger cars, electrically-powered hydraulic steering systems are widely utilized to enhance driving comfort, precision, and safety. These systems offer drivers responsive steering feel and improved maneuverability, contributing to a more enjoyable and confidence-inspiring driving experience. Additionally, electrically-powered hydraulic steering systems enable automakers to incorporate advanced driver assistance features, such as lane-keeping assistance and automated parking, further enhancing vehicle safety and convenience.

In commercial vehicles, electrically-powered hydraulic steering systems play a critical role in ensuring reliable and efficient operation, particularly in demanding applications such as trucks, buses, and heavy-duty vehicles. These systems provide drivers with the necessary power assistance to maneuver large and heavy vehicles safely and effectively, reducing driver fatigue and improving productivity. Furthermore, electrically-powered hydraulic steering systems in commercial vehicles are designed to withstand harsh operating conditions, including heavy loads, rough terrain, and frequent stops, ensuring durability and reliability in demanding environments.

The segmentation of the Global Electrically-Powered Hydraulic Steering Market by type and system underscores the diverse applications and functionalities of electrically-powered hydraulic steering systems across different vehicle types. From steering wheel/columns to sensors, steering motors, and beyond, each component plays a vital role in delivering precise and responsive steering control, enhancing vehicle performance, safety, and driver satisfaction. By catering to the unique requirements of passenger cars and commercial vehicles, electrically-powered hydraulic steering systems continue to drive innovation and advancement in the automotive industry, shaping the future of vehicle dynamics and driving experiences.

Global Electrically-Powered Hydraulic Steering Segment Analysis

In this report, the Global Electrically-Powered Hydraulic Steering Market has been segmented by Type, System and Geography.

Global Electrically-Powered Hydraulic Steering Market, Segmentation by Type

The Global Electrically-Powered Hydraulic Steering Market has been segmented by Type into Steering Wheel/Column, Sensors, Steering Motor and Others.

The Global Electrically-Powered Hydraulic Steering Market is segmented by type, encompassing various components that contribute to the functionality and performance of electrically-powered hydraulic steering systems. One crucial component is the steering wheel/column, serving as the primary interface between the driver and the vehicle's steering system. It facilitates steering input and feedback, allowing drivers to control the direction of the vehicle with precision and ease. Additionally, sensors play a pivotal role in electrically-powered hydraulic steering systems by detecting steering input, vehicle dynamics, and environmental conditions.

These sensors provide essential data to the steering system, enabling it to adjust power assistance levels and enhance vehicle stability and control. Another key component is the steering motor, which serves as the power source for the hydraulic system. The motor delivers power assistance to the steering mechanism based on sensor inputs and driver commands, ensuring smooth and responsive steering performance. Other components, such as hydraulic pumps, fluid reservoirs, and electronic control units, complement the core steering components, contributing to the overall functionality and reliability of electrically-powered hydraulic steering systems. Collectively, these components form a comprehensive system that delivers precise, reliable, and efficient steering control, enhancing vehicle handling, safety, and driver satisfaction across various automotive applications.

Global Electrically-Powered Hydraulic Steering Market, Segmentation by System

The Global Electrically-Powered Hydraulic Steering Market has been segmented by System into Passenger Cars and Commercial Vehicle.

The Global Electrically-Powered Hydraulic Steering Market is segmented by system, distinguishing between passenger cars and commercial vehicles, each with unique requirements and applications. In passenger cars, electrically-powered hydraulic steering systems are prevalent, providing drivers with responsive and precise steering control for enhanced driving comfort and safety. These systems utilize electric power assistance to augment hydraulic steering mechanisms, offering drivers a balance between effortless maneuverability and tactile feedback. Moreover, electrically-powered hydraulic steering systems in passenger cars often incorporate advanced driver assistance features, such as lane-keeping assistance and automated parking, further enhancing vehicle safety and convenience.

On the other hand, commercial vehicles rely on electrically-powered hydraulic steering systems to meet the demands of heavy-duty operation. Trucks, buses, and other commercial vehicles require robust steering systems capable of withstanding rigorous conditions, including heavy loads, rough terrain, and frequent stops. Electrically-powered hydraulic steering systems in commercial vehicles provide drivers with the necessary power assistance to maneuver large and heavy vehicles safely and effectively, reducing driver fatigue and improving productivity. These systems are engineered for durability and reliability, ensuring consistent performance in demanding environments. Overall, the segmentation of the Global Electrically-Powered Hydraulic Steering Market by system reflects the diverse applications and requirements across different vehicle segments, highlighting the significance of electrically-powered hydraulic steering systems in enhancing vehicle dynamics and driving experiences across the automotive industry.

Global Electrically-Powered Hydraulic Steering Market, Segmentation by Geography

In this report, the Global Electrically-Powered Hydraulic Steering Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Global Electrically-Powered Hydraulic Steering Market Share (%), by Geographical Region, 2023

In Europe, electrically-powered hydraulic steering systems are widely adopted, supported by a robust automotive manufacturing base and a growing emphasis on vehicle safety and environmental sustainability. European automotive manufacturers prioritize steering systems that integrate seamlessly with advanced driver assistance systems (ADAS) and contribute to overall vehicle efficiency and emissions reduction.

The Asia-Pacific region is experiencing rapid growth in the electrically-powered hydraulic steering market, fueled by expanding automotive production, rising consumer demand, and increasing investments in research and development. Countries such as China, Japan, and South Korea are at the forefront of steering system innovation, leveraging advanced technologies to enhance vehicle performance and driver comfort.

Latin America and the Middle East & Africa regions also present opportunities for market growth, driven by evolving consumer preferences, infrastructure development, and economic growth. While adoption rates may vary across countries within these regions, electrically-powered hydraulic steering systems offer advantages in terms of vehicle dynamics, safety, and driver satisfaction, contributing to their increasing popularity in the automotive market.

The geographic segmentation of the Global Electrically-Powered Hydraulic Steering Market underscores the diverse opportunities and challenges across different regions, reflecting the global automotive industry's dynamic and evolving nature. By understanding regional market trends, regulatory requirements, and consumer preferences, stakeholders can capitalize on opportunities and drive innovation in electrically-powered hydraulic steering systems to meet the needs of diverse markets worldwide.

This report provides an in depth analysis of various factors that impact the dynamics of Global Electrically-Powered Hydraulic Steering Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers, Restraints and Opportunity Analysis

Drivers :

• Demand for Enhanced Driving Dynamics
• Integration with Advanced Driver Assistance Systems (ADAS)
• Regulatory Mandates for Vehicle Safety

• Rising Demand for Electric Vehicles (EVs) - The rising demand for Electric Vehicles (EVs) is a significant driver reshaping the automotive industry and consequently impacting the electrically-powered hydraulic steering market. EVs have garnered increasing attention globally due to growing concerns over climate change, air pollution, and dependence on fossil fuels. As governments worldwide implement stricter emissions regulations and offer incentives to promote electric vehicle adoption, consumers are increasingly turning to EVs as a cleaner and more sustainable alternative to traditional internal combustion engine vehicles.

  This surge in EV demand presents both opportunities and challenges for the electrically-powered hydraulic steering market. EV manufacturers seek steering systems that offer efficient power assistance while minimizing energy consumption to maximize driving range. Electrically-powered hydraulic steering systems provide a compelling solution, delivering precise steering control and comfort while ensuring energy-efficient operation. By integrating electric power assistance with hydraulic steering mechanisms, these systems offer EV drivers a balance between responsiveness and energy efficiency, enhancing overall driving dynamics and user experience.

  The transition to EVs is driving innovation in steering system technology, with a focus on lightweighting, compact design, and integration with advanced driver assistance features. Electrically-powered hydraulic steering systems tailored specifically for EV applications incorporate lightweight materials, compact components, and advanced control algorithms to optimize performance and efficiency. These systems play a crucial role in enhancing vehicle safety, stability, and maneuverability, contributing to the broader adoption and acceptance of EVs among consumers.

  The growing demand for EVs also poses challenges for the electrically-powered hydraulic steering market, particularly in terms of compatibility and integration with electric propulsion systems and autonomous driving technologies. As EV architectures evolve to accommodate electrification and autonomy, steering systems must adapt to meet the unique requirements of electric and autonomous vehicles. Manufacturers must invest in research and development to develop steering solutions that seamlessly integrate with EV platforms, offering the performance, reliability, and efficiency demanded by EV drivers and automakers.

Restraints :

• High Cost of Implementation
• Limited Compatibility with Electric and Autonomous Vehicles
• Complexity and Maintenance Requirements

• Weight and Packaging Constraints - Weight and packaging constraints represent significant challenges for electrically-powered hydraulic steering systems, particularly in the context of modern automotive design and engineering. As vehicles continue to evolve to meet increasingly stringent efficiency and performance standards, reducing weight and optimizing packaging become paramount considerations for automotive manufacturers. Electrically-powered hydraulic steering systems must navigate these constraints to remain competitive and viable in the market.

  One of the primary concerns related to weight constraints is the overall impact on vehicle efficiency and fuel economy. As automotive manufacturers strive to improve fuel efficiency and reduce emissions, every kilogram added to the vehicle's weight can have a tangible impact on its performance and environmental footprint. Electrically-powered hydraulic steering systems, which incorporate additional components such as hydraulic pumps and fluid reservoirs, can contribute to overall vehicle weight, potentially compromising fuel efficiency and driving dynamics.

  Packaging constraints pose challenges for integrating electrically-powered hydraulic steering systems into modern vehicle architectures. As vehicles become more compact and streamlined, there is limited space available within the engine compartment for accommodating steering components. Electrically-powered hydraulic steering systems must be designed with compact dimensions and flexible mounting options to fit seamlessly into tight spaces while ensuring optimal functionality and accessibility for maintenance and servicing.

  To address these challenges, automotive manufacturers and suppliers are investing in lightweight materials, advanced manufacturing techniques, and innovative design solutions to optimize the weight and packaging of electrically-powered hydraulic steering systems. Lightweight materials such as aluminum and composite materials are increasingly used to reduce the weight of steering components without compromising strength or durability. Advanced manufacturing processes, such as additive manufacturing and precision machining, enable the production of complex geometries and optimized designs that minimize material usage and weight.

  Innovative design solutions, such as integrated component assemblies and modular architectures, help optimize packaging and maximize space utilization within the vehicle. By streamlining component layouts and minimizing redundant features, automotive engineers can reduce the overall footprint of electrically-powered hydraulic steering systems while enhancing performance and reliability.

  Addressing weight and packaging constraints is essential for ensuring the continued viability and competitiveness of electrically-powered hydraulic steering systems in the automotive market. By leveraging lightweight materials, advanced manufacturing techniques, and innovative design solutions, stakeholders can overcome these challenges and deliver steering systems that meet the evolving needs of modern vehicles for efficiency, performance, and sustainability.

Opportunities :

• Integration with Advanced Driver Assistance Systems (ADAS)
• Development of Lightweight and Compact Solutions
• Expansion in Electric and Autonomous Vehicle Segments

• Enhanced Vehicle Customization and Personalization - Enhanced vehicle customization and personalization present significant opportunities for electrically-powered hydraulic steering systems to cater to the diverse preferences and needs of drivers. In today's automotive market, consumers increasingly seek vehicles that reflect their individual tastes and lifestyles, driving demand for customizable features and options. Electrically-powered hydraulic steering systems, as integral components of the vehicle's steering mechanism, can contribute to enhanced customization and personalization experiences in several ways.

  One way in which electrically-powered hydraulic steering systems contribute to vehicle customization is through adjustable steering modes and settings. Modern vehicles equipped with these systems often offer drivers the ability to customize steering characteristics such as steering effort, responsiveness, and feedback. By adjusting parameters through the vehicle's infotainment system or dedicated controls, drivers can tailor the steering feel to their preferences, whether they prefer a sporty, dynamic driving experience or a more relaxed, comfort-oriented feel.

  Electrically-powered hydraulic steering systems can be integrated with driver profile settings, allowing multiple users to store and recall their preferred steering configurations. This feature enables seamless transition between different drivers, ensuring that each driver's personalized steering settings are automatically applied when they enter the vehicle. Whether it's adjusting steering sensitivity, damping characteristics, or assist levels, personalized steering profiles enhance the overall driving experience and comfort for each driver.

  Electrically-powered hydraulic steering systems can be paired with other customizable vehicle features to create cohesive and personalized driving environments. For example, steering settings can be synchronized with seat adjustments, ambient lighting colors, and audio system presets to create personalized driving profiles tailored to individual driver preferences. This holistic approach to vehicle customization enhances driver satisfaction and fosters a deeper emotional connection between drivers and their vehicles.

  Beyond individual driver preferences, electrically-powered hydraulic steering systems also offer opportunities for customization in specialized vehicle applications. For performance-oriented vehicles, steering systems can be tuned for enhanced feedback and precision, catering to enthusiasts seeking an exhilarating driving experience. In contrast, luxury vehicles may prioritize comfort and refinement, with steering systems optimized for smoothness and ease of operation.

  Enhanced vehicle customization and personalization represent an exciting opportunity for electrically-powered hydraulic steering systems to differentiate vehicles and create compelling value propositions for consumers. By offering adjustable steering settings, personalized profiles, and tailored driving experiences, these systems contribute to a more engaging, enjoyable, and individualized driving experience, driving customer satisfaction and loyalty in the competitive automotive market.

Key players in Global Electrically-Powered Hydraulic Steering Market include :

• ATS Automation Tooling Systems Inc.
• Delphi Automotive Systems
• GKN PLC
• Hafei Industrial Group Automobile Redirector Obligate Co., Ltd
• Infineon Technologies
• Denso Corporation
• JTEKT Corporation
• Robert Bosch GmbH

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis