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.
During this period, several factors contributed to the rise in demand for power steering control valves. Manufacturers focused on creating more efficient, lighter, and cost-effective systems to enhance fuel efficiency and reduce emissions. The growing awareness of environmental issues also led to a demand for electric and hybrid vehicles, which further pushed the need for advanced steering systems. Moreover, the increase in vehicle production across emerging markets like India, China, and Brazil significantly bolstered the market during this phase.
Looking forward to 2023 to 2033, the automotive power steering control valve market is poised for substantial growth. Several trends are shaping this future demand. The move toward fully electric vehicles (EVs) is one of the main drivers, as EVs require power steering systems tailored to their unique needs. Additionally, advancements in steering technologies, such as steer-by-wire systems, are expected to revolutionize the market. These systems do not require traditional mechanical linkages, which could open up new possibilities for power steering valves.
The market will also be influenced by the rise in autonomous vehicles. As these vehicles become more commonplace, the requirement for precision and control in steering systems will grow, further increasing the demand for sophisticated automotive power steering control valves. Moreover, the growing focus on improving driving comfort and safety features is expected to contribute to the market's expansion.
With rising competition among automotive manufacturers to offer enhanced user experiences, the automotive power steering control valve market will likely see further innovation in materials, designs, and integration with other vehicle systems. The global push for sustainability and reduced carbon emissions will also continue to drive the demand for more efficient and environmentally friendly power steering solutions.
Get an In-Depth Research Analysis of the Global Automotive Power Steering Control Valve Market Size And Forecast [2025-2032]
The automotive power steering control valve market has seen significant developments from 2018 to 2022, and its trajectory in the coming years holds even more promise. This market is integral to the automotive industry, as power steering systems ensure ease of handling and safety for modern vehicles. From 2018 to 2022, the demand for automotive power steering control valves grew steadily, driven by the increasing adoption of advanced steering systems and the shift toward electric power steering (EPS) over traditional hydraulic systems.
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.
Get Discount On The Purchase of the Global Automotive Power Steering Control Valve Market Size And Forecast [2025-2032]
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)
For More Information or Query, Visit @ Automotive Power Steering Control Valve Market Research Analysis
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
About Us: Verified Market Reports
Verified Market Reports is a leading Global Research and Consulting firm servicing over 5000+ global clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/