South Korea Electro-Hydraulic Power Steering Market Growth, Demand and Challenges of the Key Industry Players 2024-32
                     South Korea Electro-
Hydraulic Power Steering 
Market Research and 
Forecast Report 2024-
2032
Format: PDF+EXCEL
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A c c o r d i n g  t o  t h e  l a t e s t  r e p o r t  b y  I M A R C  G r o u p ,  t i t l e d  " S o u t h  K o r e a  E l e c t r o - H y d r a u l i c  P o w e r  
S t e e r i n g  M a r k e t :  I n d u s t r y  T r e n d s ,  S h a r e ,  S i z e ,  G r o w t h ,  O p p o r t u n i t y  a n d  F o r e c a s t  2 0 2 4 -
2 0 3 2 , "  t h e  S o u t h  K o r e a  e l e c t r o - h y d r a u l i c  p o w e r  s t e e r i n g  m a r k e t  s i z e  i s  p r o j e c t e d  t o  e x h i b i t  a  
g r o w t h  r a t e  ( C A G R )  o f  8 . 3 0 %  d u r i n g  2 0 2 4 - 2 0 3 2 .
T h e  i n c r e a s i n g  e m p h a s i s  o n  v e h i c l e  p e r f o r m a n c e  a l o n g  w i t h  t h e  i n c r e a s i n g  i m p o r t a n c e  o f  
Report a d v a n c e d  s a f e t y  f e a t u r e s  i s  o n e  o f  t h e  k e y  f a c t o r s  d r i v i n g  t h e  g r o w t h  o f  t h e  S o u t h  K o r e a n  
m a r k e t .  P e o p l e  p r e f e r  v e h i c l e s  e q u i p p e d  w i t h  e l e c t r o - h y d r a u l i c  p o w e r  s t e e r i n g  s y s t e m s  a s  
t h e y  o f f e r  i m p r o v e d  h a n d l i n g  a n d  e n h a n c e d  c o n t r o l .  M a n u f a c t u r e r s  a r e  i n c o r p o r a t i n g  t h e s e  
Highlight and s y s t e m s  t o  e n h a n c e  s t e e r i n g  r e s p o n s e  a n d  c o n t r o l ,  t h e r e b y  f a c i l i t a t i n g  a  s a f e r  a n d  m o r e  
p r e c i s e  d r i v i n g  e x p e r i e n c e ,  w h i c h  i s  a t t r a c t i v e  t o  s a f e t y - c o n s c i o u s  d r i v e r s .  
I n  a d d i t i o n ,  a u t o m a k e r s  a r e  l o o k i n g  f o r  w a y s  t o  r e d u c e  v e h i c l e  w e i g h t  a n d  i m p r o v e  f u e l  
Description e f f i c i e n c y .  E l e c t r o - h y d r a u l i c  p o w e r  s t e e r i n g  s y s t e m s  o f f e r  a  l i g h t e r  a l t e r n a t i v e  t h a t  e f f e c t i v e l y  
r e d u c e s  o v e r a l l  v e h i c l e  w e i g h t  w h i l e  o p t i m i z i n g  e n e r g y  c o n s u m p t i o n  i n  l i n e  w i t h  t h e  g l o b a l  
t r e n d  t o w a r d  s u s t a i n a b i l i t y .  I n n o v a t i o n s  i n  s t e e r i n g  t e c h n o l o g y ,  s u c h  a s  t h e  i n t e g r a t i o n  o f  
e l e c t r o n i c  c o n t r o l  u n i t s  a n d  s e n s o r s ,  a r e  a l s o  i m p r o v i n g  t h e  p e r f o r m a n c e  a n d  r e l i a b i l i t y  o f  
t h e s e  s y s t e m s .
R e q u e s t  f o r  a  P D F  s a m p l e  o f  t h i s  r e p o r t :  
h t t p s : / / w w w . i m a r c g r o u p . c o m / s o u t h - k o r e a - e l e c t r o - h y d r a u l i c - p o w e r - s t e e r i n g - m a r k e t / r e q u e s t s a m
p l e
Report Description
S o u t h  K o r e a  E le c t r o - H y d r a u l i c  P o w e r  S t e e r in g  M a r k e t  T r e n d s :
M a n u f a c t u r e r s  a r e  i n v e s t i n g  i n  r e s e a r c h  a n d  d e v e l o p m e n t  ( R & D )  a c t i v i t i e s  t o  c r e a t e  m o r e  s o p h i s t i c a te d  s t e e r i n g  s o l u t i o n s  t h a t  
a d a p t  t o  d i f f e r e n t  d r i v i n g  c o n d i t i o n s ,  t h e r e b y  e n h a n c i n g  t h e  g r o w t h  o f  t h e  d o m e s t i c  m a r k e t .  T h e  g r o w i n g  p r e f e r e n c e  f o r  e c o -
f r i e n d l y  t r a n s p o r t a t i o n  i s  l e a d i n g  t o  t h e  i n c r e a s i n g  a d o p t i o n  o f  e l e c t r i c  a n d  h y b r i d  v e h i c l e s ,  w h i c h  i s  d r i v i n g  t h e  d e m a n d  f o r  
e l e c t r o h y d r a u l i c  p o w e r  s t e e r i n g  s y s te m s  t o  s u p p o r t  a d v a n c e d  d r i v e r  a s s i s t a n c e  s y s te m s  ( A D A S )  a n d  i m p r o v e  v e h i c l e  d y n a m i c s .  
T h i s  t r e n d  i s  e n c o u r a g i n g  m a n u f a c tu r e r s  t o  i n t e g r a t e  e l e c t r o - h y d r a u l i c  s y s te m s  i n t o  t h e i r  v e h i c l e  m o d e l s ,  w h i c h  i s  h a v i n g  a  
p o s i t i v e  i m p a c t  o n  t h e  d o m e s t i c  m a r k e t .  I n  a d d i t i o n ,  r e g u l a t o r y  s t a n d a r d s  r e g a r d i n g  e x h a u s t  e m i s s i o n s  a n d  f u e l  e f f i c i e n c y  a r e  
f o r c i n g  a u t o m a k e r s  t o  a d o p t  mo r e  a d v a n c e d  s t e e r i n g  t e c h n o l o g i e s .  
G o v e r n m e n t  a g e n c i e s  i n  c o u n t r i e s  a r e  i n t r o d u c i n g  i n i t i a t i v e s  t o  r e d u c e  g r e e n h o u s e  g a s  e m i s s i o n s  a n d  i m p r o v e  v e h i c l e  e f f i c i e n c y .  
A s  a  r e s u l t ,  a u t o m o b i l e  m a n u f a c t u r e r s  a r e  e x p l o r i n g  i n n o v a t i v e  s o l u t i o n s ,  i n c l u d i n g  e l e c t r o - h y d r a u l i c  p o w e r  s t e e r i n g ,  t o  m e e t  
t h e s e  s t a n d a r d s  w h i l e  i m p r o v i n g  v e h i c l e  p e r f o r m a n c e .  I n  a d d i t i o n ,  c h a n g i n g  u s e r  p r e f e r e n c e s  i n  K o r e a  a r e  a l s o  c o n t r i b u t i n g  t o  t h e  
m a r k e t  g r o w th ,  a s  m a n y  d r i v e r s  a r e  l o o k i n g  f o r  e n h a n c e d  c o m fo r t  a n d  c o n v e n i e n c e  f e a t u r e s  i n  t h e i r  v e h i c l e s .  I n  r e s p o n s e ,  
m a n u f a c t u r e r s  a r e  i n t e g r a t i n g  t h e s e  s y s t e m s  i n t o  a  w i d e r  r a n g e  o f  v e h i c l e  m o d e l s ,  i n c l u d i n g  s e d a n s ,  S U V s ,  a n d  c o m m e r c i a l  
v e h i c l e s ,  t h e r e b y  p r o v i d i n g  f a v o r a b l e  m a r k e t  p r o s p e c t s  i n  K o r e a .
V ie w  R e p o r t  T O C ,  F i g u r e s  a n d  T a b l e s :  h t t p s : / / w w w . i m a r c g r o u p . c o m / s o u t h - k o r e a - e le c t r o - h y d r a u l i c - p o w e r - s t e e r i n g - m a r k e t
Component Type Insights:
• Steer ing Column
• Sensors
• Steer ing Motor
• Others
Vehicle Type Insights:
Report 
• Passenger Cars
Segmentation • Commercial Vehicle
Regional Insights:
• Seoul Capital  Area
• Yeongnam (Southeastern Region)
• Honam (Southwestern Region)
• Hoseo (Central  Region)
• Others
How has the South Korea electro-hydraulic power steering market 
performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the South Korea electro-
hydraulic power steering market?
What is the breakup of the South Korea electro-hydraulic power 
Key steering market on the basis of component type?
Questions What is the breakup of the South Korea electro-hydraulic power 
steering market on the basis of vehicle type?
Answered in 
What are the various stages in the value chain of the South Korea 
electro-hydraulic power steering market? 
the Report
What are the key driving factors and challenges in the South Korea 
electro-hydraulic power steering?
What is the structure of the South Korea electro-hydraulic power 
steering market and who are the key players?
What is the degree of competition in the South Korea electro-
hydraulic power steering market? 
1     P r e f a c e
2     S c o p e  a n d  M e t h o d o l o g y
    2 . 1     O b j e c t i v e s  o f  t h e  S t u d y
    2 . 2     S t a k e h o l d e r s
    2 . 3     D a t a  S o u r c e s
        2 . 3 . 1     P r i m a r y  S o u r c e s
        2 . 3 . 2     S e c o n d a r y  S o u r c e s
    2 . 4     M a r k e t  E s t i m a t i o n
Table of         2 . 4 . 1     B o t t o m - U p  A p p r o a c h        2 . 4 . 2     T o p - D o w n  A p p r o a c h
    2 . 5     F o r e c a s t i n g  M e t h o d o l o g y
3     E x e c u t i v e  S u m m a r y
4    S o u t h  K o r e a  E l e c t r o - H y d r a u l i c  P o w e r  S t e e r i n g  M a r k e t  -  I n t r o d u c t i o n
Contents     4 . 1     O v e r v i e w    4 . 2     M a r k e t  D y n a m i c s    4 . 3     I n d u s t r y  T r e n d s
    4 . 4     C o m p e t i t i v e  I n t e l l i g e n c e
5    S o u t h  K o r e a  E l e c t r o - H y d r a u l i c  P o w e r  S t e e r i n g  M a r k e t  L a n d s c a p e
    5 . 1     H i s t o r i c a l  a n d  C u r r e n t  M a r k e t  T r e n d s  ( 2 0 1 8 - 2 0 2 3 )
    5 . 2     M a r k e t  F o r e c a s t  ( 2 0 2 4 - 2 0 3 2 )
6    S o u t h  K o r e a  E l e c t r o - H y d r a u l i c  P o w e r  S t e e r i n g  M a r k e t  -  B r e a k u p  b y  C o m p o n e n t  
T y p e
    6 . 1     S t e e r i n g  C o l u m n
        6 . 1 . 1  O v e r v i e w
        6 . 1 . 2  H i s t o r i c a l  a n d  C u r r e n t  M a r k e t  T r e n d s  ( 2 0 1 8 - 2 0 2 3 )
        6 . 1 . 3  M a r k e t  F o r e c a s t  ( 2 0 2 4 - 2 0 3 2 )
    6 . 2     S e n s o r s
        6 . 2 . 1  O v e r v i e w
        6 . 2 . 2  H i s t o r i c a l  a n d  C u r r e n t  M a r k e t  T r e n d s  ( 2 0 1 8 - 2 0 2 3 )
        6 . 2 . 3  M a r k e t  F o r e c a s t  ( 2 0 2 4 - 2 0 3 2 )
       
    6 . 3     S t e e r i ng  M o t o r
        6 . 3 .1  O ve r v i e w
        6 . 3 .2  H i s t o r i c a l  a nd  C u r r e n t  Ma r k e t  T r e n ds  ( 2 0 18 - 2 0 2 3 )
        6 . 3 .3  M a rk e t  F o r e c a s t  ( 2 02 4 - 2 0 32 )
    6 . 4     O t h e rs
        6 . 4 .1  H i s t o r i c a l  a nd  C u r r e n t  Ma r k e t  T r e n ds  ( 2 0 18 - 2 0 2 3 )
        6 . 4 .2  M a rk e t  F o r e c a s t  ( 2 02 4 - 2 0 32 )
7    S o u t h  K o r e a  E le c t r o -H y d ra u l i c  P o w e r  S t e e r i n g  Ma r k e t  -  
B r e a k u p  b y  V e h i c l e  T y p e
    7 . 1     P a s s e ng e r  C a r s
Table of         7 . 1 .1  O ve r v i e w
        7 . 1 .2  H i s t o r i c a l  a nd  C u r r e n t  Ma r k e t  T r e n ds  ( 2 0 18 - 2 0 2 3 )
        7 . 1 .3  M a rk e t  F o r e c a s t  ( 2 02 4 - 2 0 32 )
Contents     7 . 2     C o m me r c i a l  V e h i c l e        7 . 2 .1  O ve r v i e w
        7 . 2 .2  H i s t o r i c a l  a nd  C u r r e n t  Ma r k e t  T r e n ds  ( 2 0 18 - 2 0 2 3 )
        7 . 2 .3  M a rk e t  F o r e c a s t  ( 2 02 4 - 2 0 32 )
8    S o u t h  K o r e a  E le c t r o -H y d ra u l i c  P o w e r  S t e e r i n g  Ma r k e t  –  
B r e a k u p  b y  R eg i o n
    8 . 1     S e o u l  C a p i t a l  A r e a
        8 . 1 .1  O ve r v i e w
        8 . 1 .2  H i s t o r i c a l  a nd  C u r r e n t  Ma r k e t  T r e n ds  ( 2 0 18 - 2 0 2 3 )
        8 . 1 .3  M a rk e t  B r e a k u p  b y  C om p o ne n t  T yp e
        8 . 1 .4  M a rk e t  B r e a k u p  b y  V e h i c l e  T yp e
        8 . 1 .5  K e y  P l a y e r s
        8 . 1 .6  M a rk e t  F o r e c a s t  ( 2 02 4 - 2 0 32 )
F o r  m o r e  i n f o r m a t i o n ,  v i s i t :  
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c -power-s teer ing -market / toc
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