Automotive Rack and Pinion Steering System Market Insights Video

According to Cognitive Market Research, the global automotive rack and pinion steering system market size will grow at a compound annual growth rate (CAGR) of 5.30% from 2023 to 2030.

• The global automotive rack and pinion steering system market will expand significantly by 5.30% CAGR between 2023 and 2030.
• Electric power steering (EPS) only uses the rack and pinion kind of steering system. As a result, demand for automotive rack and pinion steering systems rises as EPS is utilized in more cars.
• Demand for passenger cars is still stronger in the market for automotive rack and pinion steering systems.
• The hydraulic category held the highest share in the automotive rack and pinion steering system market in 2023.
• While Europe will continue to develop fastest through 2030, Asia Pacific will continue to dominate the automotive rack and pinion steering system market.