Drivers of Change in South Korea Electro Hydraulic Power Steering Market Market 2025-2033

South Korea Electro Hydraulic Power Steering Market by Component Type (Steering Column, Sensors, Steering Motor, Others), by Vehicle Type (Passenger Cars, Commercial Vehicle), by South Korea Forecast 2025-2033

Jun 28 2025
Base Year: 2024
197 Pages
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Drivers of Change in South Korea Electro Hydraulic Power Steering Market Market 2025-2033

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Key Insights

The South Korea electro-hydraulic power steering (EHPS) market exhibits robust growth, driven by increasing demand for advanced driver-assistance systems (ADAS) and the rising adoption of electric and hybrid vehicles. The market's Compound Annual Growth Rate (CAGR) exceeding 8.00% from 2019 to 2024 indicates significant expansion. This growth is fueled by several factors, including government regulations promoting fuel efficiency and enhanced safety features, and a burgeoning automotive industry in South Korea. The passenger car segment dominates the market share, contributing significantly to overall revenue, followed by commercial vehicles. Key components driving market value include steering columns, sensors, and steering motors. Leading market players like JTEKT, Denso, ZF, and NSK actively contribute to the market's development through technological advancements and strategic partnerships within the South Korean automotive ecosystem. The competitive landscape is characterized by both domestic and international players vying for market share, leading to innovation and price competitiveness.

Looking ahead to 2033, the market is projected to maintain its upward trajectory, driven by continued advancements in EHPS technology, particularly in areas like improved energy efficiency and enhanced responsiveness. The integration of EHPS with ADAS features will further fuel market growth, as these systems become increasingly sophisticated and indispensable in modern vehicles. The increasing focus on autonomous driving capabilities will also present substantial opportunities for EHPS manufacturers. While challenges such as high initial investment costs for advanced EHPS systems and potential supply chain disruptions might present some restraints, the overall outlook remains positive, indicating strong growth potential for the South Korean EHPS market in the coming years. This suggests a continuously evolving market landscape necessitating strategic adaptation and innovation from market players.

South Korea Electro Hydraulic Power Steering Market Research Report - Market Size, Growth & Forecast

South Korea Electro Hydraulic Power Steering Market Report: 2019-2033

This comprehensive report provides an in-depth analysis of the South Korea electro hydraulic power steering market, offering invaluable insights for industry professionals, investors, and strategic decision-makers. Covering the period 2019-2033, with a base year of 2025 and a forecast period of 2025-2033, this report unveils the market's structure, dynamics, and future trajectory. Key market segments, including Component Type (Steering Column, Sensors, Steering Motor, Others) and Vehicle Type (Passenger Cars, Commercial Vehicles), are meticulously analyzed, revealing growth projections and competitive landscapes.

South Korea Electro Hydraulic Power Steering Market Structure & Innovation Trends

This section analyzes the competitive landscape of the South Korean electro hydraulic power steering market. We examine market concentration, identifying key players and their respective market shares. Innovation drivers, such as advancements in sensor technology and the increasing demand for fuel-efficient vehicles, are explored. The regulatory framework impacting the market, including emission standards and safety regulations, is discussed. Furthermore, we assess the presence of substitute products and their potential impact on market growth. Finally, we examine end-user demographics and recent M&A activities, including deal values (e.g., a xx Million deal between Company A and Company B in 2024), to understand the market's consolidation trends. The analysis includes a detailed evaluation of market share distribution among key players, including:

  • JTEKT Corporation: xx% Market Share (Estimated 2025)
  • Denso Corporation: xx% Market Share (Estimated 2025)
  • ZF: xx% Market Share (Estimated 2025)
  • NSK Ltd: xx% Market Share (Estimated 2025)
  • GKN PLC: xx% Market Share (Estimated 2025)
  • Mitsubishi Electric Corporation: xx% Market Share (Estimated 2025)
  • ATS Automation: xx% Market Share (Estimated 2025)
  • Hitachi Automotive Systems Ltd: xx% Market Share (Estimated 2025)
  • Nexteer Automation: xx% Market Share (Estimated 2025)
  • Robert Bosch Gmb: xx% Market Share (Estimated 2025)
South Korea Electro Hydraulic Power Steering Market Growth

South Korea Electro Hydraulic Power Steering Market Dynamics & Trends

This section delves into the key drivers and trends shaping the South Korean electro hydraulic power steering market. We analyze market growth drivers, technological advancements (like the integration of advanced driver-assistance systems), changing consumer preferences towards enhanced safety and fuel efficiency, and the competitive dynamics among major players. We provide quantified insights, including the Compound Annual Growth Rate (CAGR) projected for the forecast period (2025-2033) and market penetration rates for different vehicle segments. Factors such as government initiatives promoting electric and hybrid vehicles significantly influence market dynamics. The anticipated CAGR is xx% for the period 2025-2033.

South Korea Electro Hydraulic Power Steering Market Growth

Dominant Regions & Segments in South Korea Electro Hydraulic Power Steering Market

This section identifies the leading regions and segments within the South Korean electro hydraulic power steering market. We provide a detailed dominance analysis, outlining the factors contributing to the superior performance of specific regions and segments.

Dominant Segment Analysis:

  • Component Type: The Steering Motor segment is expected to dominate due to its role in enhancing fuel efficiency and driving performance. Key drivers include increasing adoption of electric and hybrid vehicles, which benefit from the energy-saving aspects of electro hydraulic power steering systems.
  • Vehicle Type: The Passenger Cars segment is projected to hold the largest market share owing to the higher production volume of passenger cars compared to commercial vehicles in South Korea. The rising demand for passenger vehicles in the country significantly impacts the market.

Key Drivers (using bullet points):

  • Strong government support for the automotive industry.
  • Growing disposable income and vehicle ownership.
  • Increasing urbanization and improved road infrastructure.
  • Stringent emission regulations and safety standards.

South Korea Electro Hydraulic Power Steering Market Product Innovations

This section summarizes recent product developments in the South Korean electro hydraulic power steering market. We highlight technological advancements, such as improved sensor technology for enhanced precision and responsiveness, and discuss how these innovations are addressing market needs and providing competitive advantages to manufacturers. The focus is on trends like miniaturization, improved efficiency, and integration with ADAS (Advanced Driver-Assistance Systems).

Report Scope & Segmentation Analysis

This report comprehensively segments the South Korea electro hydraulic power steering market based on component type and vehicle type.

Component Type:

  • Steering Column: This segment's growth is linked to the overall growth of the automotive industry and the increasing demand for advanced steering systems.
  • Sensors: This segment is expected to witness significant growth driven by the demand for enhanced safety and driver assistance features.
  • Steering Motor: This segment benefits from advancements in electric and hybrid vehicle technology.
  • Others: This segment comprises other crucial components and is expected to grow alongside the overall market.

Vehicle Type:

  • Passenger Cars: This segment is expected to dominate due to high vehicle production and sales.
  • Commercial Vehicle: Growth in this segment is dependent on the development of the logistics and transportation sector.

Key Drivers of South Korea Electro Hydraulic Power Steering Market Growth

The South Korea electro hydraulic power steering market's growth is propelled by several factors, including the rising demand for fuel-efficient vehicles, stringent government regulations promoting eco-friendly transportation, advancements in sensor and motor technology, and the increasing integration of advanced driver-assistance systems (ADAS). The government's initiatives to support the domestic automotive industry further contribute to market expansion.

Challenges in the South Korea Electro Hydraulic Power Steering Market Sector

The South Korea electro hydraulic power steering market faces challenges such as intense competition from established and emerging players, fluctuations in raw material prices impacting production costs, and potential supply chain disruptions. Stringent regulatory requirements and evolving safety standards also pose challenges to manufacturers.

Emerging Opportunities in South Korea Electro Hydraulic Power Steering Market

Emerging opportunities arise from the increasing demand for electric and hybrid vehicles, the growing adoption of ADAS, and the development of advanced steering technologies. The potential for collaboration between automotive manufacturers and technology companies presents significant opportunities for market expansion.

Leading Players in the South Korea Electro Hydraulic Power Steering Market Market

  • JTEKT Corporation
  • Denso Corporation
  • ZF
  • NSK Ltd
  • GKN PLC
  • Mitsubishi Electric Corporation
  • ATS Automation
  • Hitachi Automotive Systems Ltd
  • Nexteer Automation
  • Robert Bosch Gmb

Key Developments in South Korea Electro Hydraulic Power Steering Market Industry

  • January 2023: Company X launches a new generation of electro hydraulic power steering system with enhanced fuel efficiency.
  • June 2024: Company Y and Company Z announce a strategic partnership to develop advanced sensor technology for electro hydraulic power steering.

Future Outlook for South Korea Electro Hydraulic Power Steering Market Market

The future of the South Korea electro hydraulic power steering market appears promising, driven by technological advancements, increasing vehicle production, and the rising adoption of electric and hybrid vehicles. Strategic collaborations and investments in research and development are expected to further fuel market growth, presenting lucrative opportunities for industry stakeholders.

South Korea Electro Hydraulic Power Steering Market Segmentation

  • 1. Component Type
    • 1.1. Steering Column
    • 1.2. Sensors
    • 1.3. Steering Motor
    • 1.4. Others
  • 2. Vehicle Type
    • 2.1. Passenger Cars
    • 2.2. Commercial Vehicle

South Korea Electro Hydraulic Power Steering Market Segmentation By Geography

  • 1. South Korea
South Korea Electro Hydraulic Power Steering Market Regional Share

South Korea Electro Hydraulic Power Steering Market REPORT HIGHLIGHTS

AspectsDetails
Study Period 2019-2033
Base Year 2024
Estimated Year 2025
Forecast Period2025-2033
Historical Period2019-2024
Growth RateCAGR of > 8.00% from 2019-2033
Segmentation
    • By Component Type
      • Steering Column
      • Sensors
      • Steering Motor
      • Others
    • By Vehicle Type
      • Passenger Cars
      • Commercial Vehicle
  • By Geography
    • South Korea

Table of Contents

  1. 1. Introduction
    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Methodology
    • 1.4. Definitions and Assumptions
  2. 2. Executive Summary
    • 2.1. Introduction
  3. 3. Market Dynamics
    • 3.1. Introduction
      • 3.2. Market Drivers
        • 3.2.1. Rise in demand for Luxury Cars Across the Country
      • 3.3. Market Restrains
        • 3.3.1. High Cost Associated with the Product
      • 3.4. Market Trends
        • 3.4.1. Advancements in Electric Power Steering (EPS) Technology Phasing Out the Electro-Hydraulic System
  4. 4. Market Factor Analysis
    • 4.1. Porters Five Forces
    • 4.2. Supply/Value Chain
    • 4.3. PESTEL analysis
    • 4.4. Market Entropy
    • 4.5. Patent/Trademark Analysis
  5. 5. South Korea Electro Hydraulic Power Steering Market Analysis, Insights and Forecast, 2019-2031
    • 5.1. Market Analysis, Insights and Forecast - by Component Type
      • 5.1.1. Steering Column
      • 5.1.2. Sensors
      • 5.1.3. Steering Motor
      • 5.1.4. Others
    • 5.2. Market Analysis, Insights and Forecast - by Vehicle Type
      • 5.2.1. Passenger Cars
      • 5.2.2. Commercial Vehicle
    • 5.3. Market Analysis, Insights and Forecast - by Region
      • 5.3.1. South Korea
  6. 6. Competitive Analysis
    • 6.1. Market Share Analysis 2024
      • 6.2. Company Profiles
        • 6.2.1 JTEKT Corporation
          • 6.2.1.1. Overview
          • 6.2.1.2. Products
          • 6.2.1.3. SWOT Analysis
          • 6.2.1.4. Recent Developments
          • 6.2.1.5. Financials (Based on Availability)
        • 6.2.2 Denso Corporation
          • 6.2.2.1. Overview
          • 6.2.2.2. Products
          • 6.2.2.3. SWOT Analysis
          • 6.2.2.4. Recent Developments
          • 6.2.2.5. Financials (Based on Availability)
        • 6.2.3 ZF
          • 6.2.3.1. Overview
          • 6.2.3.2. Products
          • 6.2.3.3. SWOT Analysis
          • 6.2.3.4. Recent Developments
          • 6.2.3.5. Financials (Based on Availability)
        • 6.2.4 NSK Ltd
          • 6.2.4.1. Overview
          • 6.2.4.2. Products
          • 6.2.4.3. SWOT Analysis
          • 6.2.4.4. Recent Developments
          • 6.2.4.5. Financials (Based on Availability)
        • 6.2.5 GKN PLC
          • 6.2.5.1. Overview
          • 6.2.5.2. Products
          • 6.2.5.3. SWOT Analysis
          • 6.2.5.4. Recent Developments
          • 6.2.5.5. Financials (Based on Availability)
        • 6.2.6 Mitsubishi Electric Corporation
          • 6.2.6.1. Overview
          • 6.2.6.2. Products
          • 6.2.6.3. SWOT Analysis
          • 6.2.6.4. Recent Developments
          • 6.2.6.5. Financials (Based on Availability)
        • 6.2.7 ATS Automation
          • 6.2.7.1. Overview
          • 6.2.7.2. Products
          • 6.2.7.3. SWOT Analysis
          • 6.2.7.4. Recent Developments
          • 6.2.7.5. Financials (Based on Availability)
        • 6.2.8 Hitachi Automotive Systems Ltd
          • 6.2.8.1. Overview
          • 6.2.8.2. Products
          • 6.2.8.3. SWOT Analysis
          • 6.2.8.4. Recent Developments
          • 6.2.8.5. Financials (Based on Availability)
        • 6.2.9 Nexteer Automation
          • 6.2.9.1. Overview
          • 6.2.9.2. Products
          • 6.2.9.3. SWOT Analysis
          • 6.2.9.4. Recent Developments
          • 6.2.9.5. Financials (Based on Availability)
        • 6.2.10 Robert Bosch Gmb
          • 6.2.10.1. Overview
          • 6.2.10.2. Products
          • 6.2.10.3. SWOT Analysis
          • 6.2.10.4. Recent Developments
          • 6.2.10.5. Financials (Based on Availability)

List of Figures

  1. Figure 1: South Korea Electro Hydraulic Power Steering Market Revenue Breakdown (Million, %) by Product 2024 & 2032
  2. Figure 2: South Korea Electro Hydraulic Power Steering Market Share (%) by Company 2024

List of Tables

  1. Table 1: South Korea Electro Hydraulic Power Steering Market Revenue Million Forecast, by Region 2019 & 2032
  2. Table 2: South Korea Electro Hydraulic Power Steering Market Revenue Million Forecast, by Component Type 2019 & 2032
  3. Table 3: South Korea Electro Hydraulic Power Steering Market Revenue Million Forecast, by Vehicle Type 2019 & 2032
  4. Table 4: South Korea Electro Hydraulic Power Steering Market Revenue Million Forecast, by Region 2019 & 2032
  5. Table 5: South Korea Electro Hydraulic Power Steering Market Revenue Million Forecast, by Country 2019 & 2032
  6. Table 6: South Korea Electro Hydraulic Power Steering Market Revenue Million Forecast, by Component Type 2019 & 2032
  7. Table 7: South Korea Electro Hydraulic Power Steering Market Revenue Million Forecast, by Vehicle Type 2019 & 2032
  8. Table 8: South Korea Electro Hydraulic Power Steering Market Revenue Million Forecast, by Country 2019 & 2032

Frequently Asked Questions

1. What is the projected Compound Annual Growth Rate (CAGR) of the South Korea Electro Hydraulic Power Steering Market?

The projected CAGR is approximately > 8.00%.

2. Which companies are prominent players in the South Korea Electro Hydraulic Power Steering Market?

Key companies in the market include JTEKT Corporation, Denso Corporation, ZF, NSK Ltd, GKN PLC, Mitsubishi Electric Corporation, ATS Automation, Hitachi Automotive Systems Ltd, Nexteer Automation, Robert Bosch Gmb.

3. What are the main segments of the South Korea Electro Hydraulic Power Steering Market?

The market segments include Component Type, Vehicle Type.

4. Can you provide details about the market size?

The market size is estimated to be USD XX Million as of 2022.

5. What are some drivers contributing to market growth?

Rise in demand for Luxury Cars Across the Country.

6. What are the notable trends driving market growth?

Advancements in Electric Power Steering (EPS) Technology Phasing Out the Electro-Hydraulic System.

7. Are there any restraints impacting market growth?

High Cost Associated with the Product.

8. Can you provide examples of recent developments in the market?

N/A

9. What pricing options are available for accessing the report?

Pricing options include single-user, multi-user, and enterprise licenses priced at USD 3800, USD 4500, and USD 5800 respectively.

10. Is the market size provided in terms of value or volume?

The market size is provided in terms of value, measured in Million.

11. Are there any specific market keywords associated with the report?

Yes, the market keyword associated with the report is "South Korea Electro Hydraulic Power Steering Market," which aids in identifying and referencing the specific market segment covered.

12. How do I determine which pricing option suits my needs best?

The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.

13. Are there any additional resources or data provided in the South Korea Electro Hydraulic Power Steering Market report?

While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.

14. How can I stay updated on further developments or reports in the South Korea Electro Hydraulic Power Steering Market?

To stay informed about further developments, trends, and reports in the South Korea Electro Hydraulic Power Steering Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.

Methodology

Step 1 - Identification of Relevant Samples Size from Population Database

Step Chart
Bar Chart
Method Chart

Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Approach Chart
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.

Note*: In applicable scenarios

Step 3 - Data Sources

Primary Research

  • Web Analytics
  • Survey Reports
  • Research Institute
  • Latest Research Reports
  • Opinion Leaders

Secondary Research

  • Annual Reports
  • White Paper
  • Latest Press Release
  • Industry Association
  • Paid Database
  • Investor Presentations
Analyst Chart

Step 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.

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+17162654855
[email protected]

+17162654855

[email protected]

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Office no. A 5010, fifth floor, Solitaire Business Hub, Near Phoenix mall, Pune, Maharashtra 411014

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Craig Francis

Business Development Head

+17162654855

[email protected]

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