However, the technology mix is shifting decisively from hydraulic power steering (HPS) toward electric power steering (EPS) and electro-hydraulic systems, with steer-by-wire emerging as a longer-term frontier.
Currently, hydraulic power steering is the dominant technology, but there is a gradual shift toward electro-hydraulic and electric power steering systems, driven by the need for precision agriculture, automated guidance, and autonomous operation.
Electrification is beginning to emerge in compact construction equipment, such as mini-excavators and electric forklifts, creating opportunities for electric power steering systems.
The region is at the forefront of the shift to electric power steering, supported by government mandates for electric vehicles and ADAS.
The region is seeing high adoption of electric power steering and advanced safety features, driven by regulatory requirements and consumer preferences.