Power Assisted Steering Market Size

Power Assisted Steering Market size was valued at around USD 14.89 billion in 2020 and is estimated to exhibit over 4.6% CAGR from 2021 to 2027. Power assisted steering decreases the energy required for the driver to turn the vehicle, mainly during low-speed maneuvers such as turning a 90-degree corner, pulling into a parking spot, and maneuvering in a traffic area. Power assisted steering also improves the fuel efficiency of the vehicles, lowering 90% of energy and saving fuel of up to 0.8 liters per 100 Kms compared to manual steering. Power assisted steering also provides the basic functions of driver assistance systems, which include lane-departure warning systems, automatic elusion in hazardous situations, and traffic jam assist.

The power assisted steering are steering systems that utilize engine power. It provides the reduction in input effort on the steering wheel by utilizing the hydraulic pump or electric motor. It can reduce the drivers’ input by 25 - 30%, which results in making it easier for the vehicle to maneuver or turn. In addition, the electric or hydraulic actuators are installed to controlled power of the steering system, because of that driver required less effort to turn the steered wheels while driving at higher speeds, and it also decreases the significantly the physical effort required to turn the wheels when a vehicle running at a lower speed.

Power assisted steering also be engineered to offer the artificial feedback of forces acting on the steered wheels to control the car steering while driving. Several automotive manufacturers are adopting the electric power steering system in commercial vehicles since it improves safety features, fuel efficiency, and also enables ADAS feature since EPS interprets data from the automotive vehicle ECU into precise mechanical steering functions.