Product Code: ETC13410742 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | Author: Summon Dutta | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Automotive Steering System Market was valued at USD 38.2 Billion in 2024 and is expected to reach USD 52.3 Billion by 2031, growing at a compound annual growth rate of 4.28% during the forecast period (2025-2031).
The Global Automotive Steering System Market is witnessing steady growth due to increasing vehicle production, technological advancements, and rising demand for electric power steering systems. The market is segmented based on type into hydraulic power steering, electronic power steering, and electro-hydraulic power steering systems. Electric power steering systems are gaining popularity due to their efficiency, reduced weight, and enhanced fuel economy. Asia-Pacific region dominates the market, driven by the presence of key automotive manufacturers in countries like China, Japan, and India. North America and Europe are also significant markets due to the high adoption rate of advanced steering technologies. Key players in the industry include ZF Friedrichshafen AG, ThyssenKrupp AG, JTEKT Corporation, NSK Ltd., and Nexteer Automotive Group. The market is expected to continue its growth trajectory with a focus on developing autonomous driving technologies and enhancing driving comfort and safety features.
The Global Automotive Steering System Market is witnessing a shift towards advanced technologies such as steer-by-wire systems, electric power steering, and autonomous driving capabilities. These advancements are enhancing vehicle safety, efficiency, and driving experience. Additionally, there is a growing demand for eco-friendly electric power steering systems to meet stringent emission regulations. The market is also seeing opportunities in the development of integrated steering systems that cater to connected and autonomous vehicles. With the increasing focus on driver assistance systems and the rise of electric vehicles, the automotive steering system market is expected to continue growing. Key players in the market are investing in research and development to innovate and stay competitive in this rapidly evolving industry.
The Global Automotive Steering System Market faces several challenges, including increasing competition among key players leading to price wars, stringent government regulations related to safety and emissions standards, and the need for continuous technological advancements to meet consumer demands for more advanced steering capabilities. Additionally, the shift towards electric and autonomous vehicles presents a challenge as these technologies require innovative steering solutions. Moreover, the fluctuating prices of raw materials such as steel and aluminum impact manufacturing costs, while the complexity of integrating steering systems with other vehicle components adds to the overall challenge of ensuring seamless operation and reliability in modern vehicles. Overall, the industry must navigate these obstacles to remain competitive and meet the evolving needs of the automotive market.
The Global Automotive Steering System Market is primarily driven by the increasing demand for advanced driver assistance systems (ADAS) in vehicles, which require sophisticated steering systems for optimal performance. Additionally, stringent government regulations regarding vehicle safety and emissions are pushing automakers to develop more efficient and environmentally friendly steering systems. The growing trend towards electric vehicles is also a key driver, as electric power steering systems are becoming increasingly popular due to their energy efficiency and improved driving experience. Furthermore, the rise in disposable income levels and urbanization in emerging economies are fueling the demand for vehicles, thereby boosting the automotive steering system market. Overall, technological advancements, regulatory requirements, electric vehicle adoption, and economic growth are the main drivers shaping the growth of the global automotive steering system market.
Government policies related to the Global Automotive Steering System Market primarily focus on safety and emissions regulations. Various countries have implemented strict safety standards requiring automotive manufacturers to incorporate advanced steering technologies such as electronic stability control (ESC) and lane-keeping assist systems to enhance vehicle safety. Additionally, there is a growing emphasis on reducing emissions and improving fuel efficiency, leading to regulations promoting the adoption of electric power steering systems and other eco-friendly steering technologies. Government incentives and subsidies for electric vehicles and advancements in autonomous driving technology are also shaping the regulatory landscape in the automotive steering system market, driving innovation and sustainability in the industry.
The Global Automotive Steering System Market is expected to witness steady growth in the coming years due to factors such as increasing demand for advanced driver assistance systems (ADAS) and autonomous vehicles. The integration of technologies like electric power steering (EPS) and steer-by-wire systems is likely to drive market expansion as automakers focus on enhancing vehicle safety and performance. Additionally, the growing emphasis on fuel efficiency and reduced emissions is expected to propel the adoption of electric and hybrid vehicles with advanced steering systems. However, challenges such as high initial costs and the complexity of integrating these systems into vehicles may hinder market growth to some extent. Overall, the Global Automotive Steering System Market is poised for growth as technological advancements and shifting consumer preferences continue to shape the automotive industry.
In the Global Automotive Steering System Market, Asia Pacific is expected to witness significant growth due to the increasing demand for vehicles in emerging economies like China and India. North America is likely to maintain a strong position in the market with technological advancements and a focus on enhancing vehicle safety. Europe is projected to experience steady growth driven by stringent regulations promoting fuel efficiency and environmental sustainability. The Middle East and Africa region is anticipated to show moderate growth, supported by infrastructural developments and rising disposable incomes. Latin America is expected to see growth opportunities, primarily due to the increasing adoption of electric vehicles. Overall, the global automotive steering system market is set to expand across all regions, fueled by technological innovations and a shift towards connected and autonomous vehicles.
Global Automotive Steering System Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Automotive Steering System Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Automotive Steering System Market Revenues & Volume, 2021 & 2031F |
3.3 Global Automotive Steering System Market - Industry Life Cycle |
3.4 Global Automotive Steering System Market - Porter's Five Forces |
3.5 Global Automotive Steering System Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Automotive Steering System Market Revenues & Volume Share, By Technology, 2021 & 2031F |
3.7 Global Automotive Steering System Market Revenues & Volume Share, By EPS Type, 2021 & 2031F |
3.8 Global Automotive Steering System Market Revenues & Volume Share, By Pinion, 2021 & 2031F |
3.9 Global Automotive Steering System Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.10 Global Automotive Steering System Market Revenues & Volume Share, By Vehicle Type, 2021 & 2031F |
4 Global Automotive Steering System Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Automotive Steering System Market Trends |
6 Global Automotive Steering System Market, 2021 - 2031 |
6.1 Global Automotive Steering System Market, Revenues & Volume, By Technology, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Automotive Steering System Market, Revenues & Volume, By HPS, 2021 - 2031 |
6.1.3 Global Automotive Steering System Market, Revenues & Volume, By EHPS, 2021 - 2031 |
6.1.4 Global Automotive Steering System Market, Revenues & Volume, By EPS, 2021 - 2031 |
6.2 Global Automotive Steering System Market, Revenues & Volume, By EPS Type, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Automotive Steering System Market, Revenues & Volume, By R-EPS, 2021 - 2031 |
6.2.3 Global Automotive Steering System Market, Revenues & Volume, By C-EPS, 2021 - 2031 |
6.2.4 Global Automotive Steering System Market, Revenues & Volume, By P-EPS, 2021 - 2031 |
6.3 Global Automotive Steering System Market, Revenues & Volume, By Pinion, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Automotive Steering System Market, Revenues & Volume, By Single, 2021 - 2031 |
6.3.3 Global Automotive Steering System Market, Revenues & Volume, By Dual, 2021 - 2031 |
6.4 Global Automotive Steering System Market, Revenues & Volume, By Type, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Automotive Steering System Market, Revenues & Volume, By Electric Power Steering (EPS), 2021 - 2031 |
6.4.3 Global Automotive Steering System Market, Revenues & Volume, By Hydraulic Power Steering (HPS), 2021 - 2031 |
6.4.4 Global Automotive Steering System Market, Revenues & Volume, By Electro-Hydraulic Power Steering (EHPS), 2021 - 2031 |
6.4.5 Global Automotive Steering System Market, Revenues & Volume, By Manual Steering, 2021 - 2031 |
6.5 Global Automotive Steering System Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
6.5.1 Overview & Analysis |
6.5.2 Global Automotive Steering System Market, Revenues & Volume, By Passenger Cars, 2021 - 2031 |
6.5.3 Global Automotive Steering System Market, Revenues & Volume, By Light Commercial Vehicles, 2021 - 2031 |
6.5.4 Global Automotive Steering System Market, Revenues & Volume, By Heavy Commercial Vehicles, 2021 - 2031 |
7 North America Automotive Steering System Market, Overview & Analysis |
7.1 North America Automotive Steering System Market Revenues & Volume, 2021 - 2031 |
7.2 North America Automotive Steering System Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Automotive Steering System Market, Revenues & Volume, By Technology, 2021 - 2031 |
7.4 North America Automotive Steering System Market, Revenues & Volume, By EPS Type, 2021 - 2031 |
7.5 North America Automotive Steering System Market, Revenues & Volume, By Pinion, 2021 - 2031 |
7.6 North America Automotive Steering System Market, Revenues & Volume, By Type, 2021 - 2031 |
7.7 North America Automotive Steering System Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
8 Latin America (LATAM) Automotive Steering System Market, Overview & Analysis |
8.1 Latin America (LATAM) Automotive Steering System Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Automotive Steering System Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Automotive Steering System Market, Revenues & Volume, By Technology, 2021 - 2031 |
8.4 Latin America (LATAM) Automotive Steering System Market, Revenues & Volume, By EPS Type, 2021 - 2031 |
8.5 Latin America (LATAM) Automotive Steering System Market, Revenues & Volume, By Pinion, 2021 - 2031 |
8.6 Latin America (LATAM) Automotive Steering System Market, Revenues & Volume, By Type, 2021 - 2031 |
8.7 Latin America (LATAM) Automotive Steering System Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
9 Asia Automotive Steering System Market, Overview & Analysis |
9.1 Asia Automotive Steering System Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Automotive Steering System Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Automotive Steering System Market, Revenues & Volume, By Technology, 2021 - 2031 |
9.4 Asia Automotive Steering System Market, Revenues & Volume, By EPS Type, 2021 - 2031 |
9.5 Asia Automotive Steering System Market, Revenues & Volume, By Pinion, 2021 - 2031 |
9.6 Asia Automotive Steering System Market, Revenues & Volume, By Type, 2021 - 2031 |
9.7 Asia Automotive Steering System Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
10 Africa Automotive Steering System Market, Overview & Analysis |
10.1 Africa Automotive Steering System Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Automotive Steering System Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Automotive Steering System Market, Revenues & Volume, By Technology, 2021 - 2031 |
10.4 Africa Automotive Steering System Market, Revenues & Volume, By EPS Type, 2021 - 2031 |
10.5 Africa Automotive Steering System Market, Revenues & Volume, By Pinion, 2021 - 2031 |
10.6 Africa Automotive Steering System Market, Revenues & Volume, By Type, 2021 - 2031 |
10.7 Africa Automotive Steering System Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
11 Europe Automotive Steering System Market, Overview & Analysis |
11.1 Europe Automotive Steering System Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Automotive Steering System Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Automotive Steering System Market, Revenues & Volume, By Technology, 2021 - 2031 |
11.4 Europe Automotive Steering System Market, Revenues & Volume, By EPS Type, 2021 - 2031 |
11.5 Europe Automotive Steering System Market, Revenues & Volume, By Pinion, 2021 - 2031 |
11.6 Europe Automotive Steering System Market, Revenues & Volume, By Type, 2021 - 2031 |
11.7 Europe Automotive Steering System Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
12 Middle East Automotive Steering System Market, Overview & Analysis |
12.1 Middle East Automotive Steering System Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Automotive Steering System Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Automotive Steering System Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Automotive Steering System Market, Revenues & Volume, By Technology, 2021 - 2031 |
12.4 Middle East Automotive Steering System Market, Revenues & Volume, By EPS Type, 2021 - 2031 |
12.5 Middle East Automotive Steering System Market, Revenues & Volume, By Pinion, 2021 - 2031 |
12.6 Middle East Automotive Steering System Market, Revenues & Volume, By Type, 2021 - 2031 |
12.7 Middle East Automotive Steering System Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
13 Global Automotive Steering System Market Key Performance Indicators |
14 Global Automotive Steering System Market - Export/Import By Countries Assessment |
15 Global Automotive Steering System Market - Opportunity Assessment |
15.1 Global Automotive Steering System Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Automotive Steering System Market Opportunity Assessment, By Technology, 2021 & 2031F |
15.3 Global Automotive Steering System Market Opportunity Assessment, By EPS Type, 2021 & 2031F |
15.4 Global Automotive Steering System Market Opportunity Assessment, By Pinion, 2021 & 2031F |
15.5 Global Automotive Steering System Market Opportunity Assessment, By Type, 2021 & 2031F |
15.6 Global Automotive Steering System Market Opportunity Assessment, By Vehicle Type, 2021 & 2031F |
16 Global Automotive Steering System Market - Competitive Landscape |
16.1 Global Automotive Steering System Market Revenue Share, By Companies, 2024 |
16.2 Global Automotive Steering System Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |