Market New Research Automotive Power Steering Fluid Market Size, Share | Page 2

Synthetic oil-based fluids and mineral-based fluids are the types that could be explored in automotive power steering
fluid in the forecast period. Synthetic oil-based fluids sector accounted for the substantial market share of automotive
power steering fluid and is estimated to continue its dominance in the years to come. The reason behind the overall
market growth could be its superior properties like weather protection in an extremely cold climate, advanced thermal
management, and ensure vehicle efficacy and performance.
HCVs, passenger car, LCVs, and others are the vehicle types that could be explored in automotive power steering fluid
in the forecast period. The market may be categorized based on applications like power steering units, car and light
truck power steering systems, Toyota power steering system, and others could be explored in the forecast period.
Globally, Asia Pacific accounted for the substantial market share of automotive power steering fluid and is estimated
to lead the overall market in the years to come. The reason behind the overall market growth could be the presence
of key manufacturers in this region, increasing vehicle production, and growing disposable income. The developing
countries like India and China are the major consumers of automotive power steering fluid in this region.
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Europe and North America are also estimated to have a positive influence on future growth. North America is the
second largest region with significant market share. However, Europe is estimated to grow at the highest CAGR in the
forecast period. The key players of automotive power steering fluid market are Valvoline, AMSOIL, Shell, Exxon Mobil,
and Lucas Oil Products. These players are concentrating on inorganic growth to sustain themselves amidst fierce
competition.
Market Segment:
The following manufacturers are covered in this report:
• AMSOIL
• Exxon Mobil
• Lucas Oil Products
• Shell
• Valvoline
Automotive Power Steering Fluid Breakdown Data by Type