The market size of power steering pump accessories will steadily increase in 2026, with new energy vehicles becoming the core growth engine

In 2026, driven by multiple trends of electrification, intelligence, and green manufacturing, the Chinese automotive power steering pump parts market will show a parallel development trend of structural upgrading and steady expansion in scale. Data shows that the market size of China's power steering pump accessories is expected to reach 7.28 billion yuan in 2026, a year-on-year increase of 8.2%. New energy vehicles have become the core growth engine, driving a surge in demand for new accessories and promoting the industry's transformation towards high-end and diversified products.

Looking back at the period from 2021 to 2025, the Chinese market for power steering pump accessories has experienced a dual driving force of structural adjustment and technological iteration, presenting an overall trend of stable and upward development. According to the "Annual Operating Report of the Automotive Parts Industry (2025 Edition)" jointly released by the China Association of Automobile Manufacturers (CAAM) and the National Bureau of Statistics, the market size was 4.87 billion yuan in 2021 and has grown to 6.73 billion yuan by 2025, with an average compound annual growth rate (CAGR) of 8.4%. After 2023, with the full implementation of China VI emission standards and the popularization of intelligent driving assistance systems (ADAS) in mid-range vehicle models, the installation probability of electronic hydraulic power steering (EHPS) and electric power steering (EPS) systems will significantly increase, directly driving the demand for core components such as pump bodies, seals, control valves, and oil pipe joints.

From the perspective of product structure, EPS related accessories have become the core driving force for market growth, while the market for traditional hydraulic pump accessories continues to shrink. By 2026, the EPS assembly rate in the Chinese passenger car market has reached 93.7%, with pure electric vehicles achieving 100% full coverage and plug-in hybrid models reaching 96.2%. Only some medium and heavy-duty commercial vehicles and low-end fuel micro vehicles still retain hydraulic power steering (HPS) systems. Affected by this, the market size of hydraulic pump accessories will shrink to 2.69 billion yuan in 2026, with a five-year compound growth rate of -4.3%; The market size of new accessories such as EPS related micro motors, reduction mechanisms, torque sensors, control units (ECUs), and specialized wiring harnesses has reached 4.59 billion yuan, a year-on-year increase of 12.6%, accounting for 63.1% of the total market for power steering accessories. It is worth noting that the value of single vehicle steering pump accessories for new energy vehicles is 18% -22% higher than that of traditional fuel vehicles, which has become an important support for driving market growth.