Automotive Power Steering Control Valve Market was valued at USD 4.5 Billion in 2022 and is projected to reach USD 7.2 Billion by 2030, growing at a CAGR of 7.5% from 2024 to 2030.
The global automotive power steering control valve market was valued at approximately USD 8.5 billion in 2022. It is projected to grow at a compound annual growth rate (CAGR) of 6.3% from 2023 to 2028, reflecting a robust demand for enhanced steering solutions and technological advancements in the automotive sector. The increase in vehicle production and the rising adoption of advanced power steering systems are major factors contributing to this growth. The market is expanding due to the continuous development of electric power steering (EPS) systems and the growing emphasis on vehicle safety and comfort, which drive the need for more efficient and responsive control valves.
Opportunities in the automotive power steering control valve market are driven by several factors. The burgeoning trend of integrating advanced driver assistance systems (ADAS) and autonomous driving technologies is expected to boost the demand for sophisticated power steering solutions. Emerging markets in Asia-Pacific, particularly China and India, present significant growth potential due to their rapidly expanding automotive industries and increasing consumer demand for modern vehicles. Additionally, advancements in steering technologies and the shift towards electric vehicles (EVs) are likely to create new avenues for market players, enhancing their growth prospects and market reach.
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General Motors
Eaton
Bosch
Danfoss
Sleipner Group
CARDONE Industries
Kawasaki
Parker
Walvoil
SMC Corporation
Hangzhou Shibao Auto Steering Gear
Curtiss-Wright Valve Group
Aeroflow Performance
BBB Industries
Corvette Central
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Automotive Power Steering Control Valve Market
Passenger Vehicles
Commercial Vehicles
Based on Types the Market is categorized into Below types that held the largest Automotive Power Steering Control Valve market share In 2023.
Spool Valve
Rotary Valve
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Automotive Power Steering Control Valve Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Automotive Power Steering Control Valve Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Automotive Power Steering Control Valve Market, By Type
6. Global Automotive Power Steering Control Valve Market, By Application
7. Global Automotive Power Steering Control Valve Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Automotive Power Steering Control Valve Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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