Global Automotive Power Steering Fluid Market 2018-2022
About Automotive power steering fluid
Automotive power steering fluid is a type of hydraulic fluid, which flows through the power steering system of a vehicle to provide lubrication. Such fluids include silicone-based fluids or mineral oil-based fluids. In an automotive power steering system, the power steering pump pressurizes the fluid.
Technavio’s analysts forecast the Automotive power steering fluid to grow at a CAGR of 10.16% during the period 2017-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive power steering fluid market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of vehicles
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global automotive power steering fluid market 2018-2022
Technavio recognizes the following companies as the key players in the global automotive power steering fluid market
Commenting on the report, an analyst from Technavio’s team said: One trend that is affecting the market is development of EHPS systems for commercial vehicles
According to the report, one driver that is affecting the market is benefits associated with synthetic oil-based power steering fluids
Further, the report states that one challenge that is affecting the market is growth of steer-by-wire technology
Lucas Oil Products