Market Share of Automotive Steering Systems in 2030

The global automotive industry is undergoing a radical transformation, and one of the areas witnessing profound evolution is the automotive steering systems market. As vehicles become smarter, safer, and more connected, steering technologies are no longer limited to basic directional control. They are now integral to enhancing driver comfort, boosting fuel efficiency, and supporting autonomous driving capabilities.

According to industry research, the global automotive steering systems market was valued at USD 24.33 billion in 2024 and is expected to surge to USD 37.68 billion by 2030, growing at a CAGR of 7.59% during the forecast period. This growth is primarily driven by the widespread adoption of electric power steering (EPS), increasing vehicle production, evolving safety norms, and technological advancements such as steer-by-wire and AI-enabled systems.

Emerging Trends in Automotive Steering Systems

1. Rise of Steer-by-Wire Technology

One of the most revolutionary trends in the steering systems market is steer-by-wire technology. This innovation eliminates mechanical linkages between the steering wheel and the wheels, replacing them with electronic systems. The benefits are substantial: reduced vehicle weight, precise steering control, improved interior design flexibility, and seamless integration with autonomous driving systems.

2. Integration of AI and Sensor-Based Systems

Modern steering solutions are increasingly incorporating artificial intelligence and advanced sensors. These systems help interpret road conditions, adjust steering sensitivity in real time, and support semi-autonomous or fully autonomous driving modes. Such capabilities are critical in modern vehicles, especially electric and luxury models.

3. Customization and Personalization

Automakers are also innovating by offering customizable steering modes—such as Comfort, Sport, or Eco—that alter the responsiveness of the steering system according to driver preferences or terrain conditions. This enhances the overall driving experience and contributes to brand differentiation.

4. Lightweight Materials and Compact Designs

With the global push toward fuel efficiency and sustainability, manufacturers are adopting lightweight materials like aluminum and carbon fiber in steering components. These materials maintain performance while reducing vehicle weight, supporting environmental and efficiency goals.

5. Smart Integration with Electric Vehicles (EVs)

As electric vehicles (EVs) continue to gain market share, steering systems are being tailored to meet their unique powertrain requirements. The absence of internal combustion engines enables more flexibility in steering design and promotes the adoption of steer-by-wire in EVs.

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Market Drivers

1. Surge in Global Vehicle Production

The steady increase in global vehicle production—both passenger and commercial vehicles—is directly influencing the demand for advanced steering systems. Every new vehicle requires a steering system, and as the automotive fleet expands, the market grows in tandem.

2. Demand for Safer, Smarter Vehicles

As consumers prioritize safety, automotive manufacturers are investing heavily in developing intelligent steering solutions that offer lane-keeping assistance, adaptive cruise control integration, and emergency avoidance capabilities. These systems support safer driving and are often standard in premium models.

3. Stringent Safety and Emission Regulations

Governments worldwide are introducing rigorous regulatory frameworks aimed at improving vehicle safety and reducing emissions. Steering systems like EPS not only contribute to better handling but also reduce fuel consumption, making them compliant with emission targets.

4. Growing Popularity of Electrification

The shift toward electric and hybrid vehicles is compelling manufacturers to develop compact, efficient, and lightweight steering systems that align with the EV architecture. EPS and steer-by-wire are particularly well-suited to these needs.

5. Technological Collaborations and OEM-Technology Partnerships

Strategic alliances between automakers and technology providers are accelerating the pace of innovation in steering systems. These collaborations are yielding integrated solutions that combine steering with braking, suspension, and ADAS features.

Industry Key Highlights

• Electrically Powered Steering (EPS) systems dominate the market due to their superior fuel efficiency and compatibility with autonomous technologies.
• The manual steering segment is shrinking but remains relevant in low-cost vehicles and specific commercial applications.
• Electro-hydraulic systems serve as a bridge between traditional and modern technologies, offering balanced performance.
• North America is the fastest-growing regional market, supported by innovations in autonomous driving, high vehicle ownership, and regulatory incentives.
• Asia-Pacific, especially countries like China, Japan, and India, continues to lead in production volume due to its vast automotive manufacturing base.
• The aftermarket segment remains strong, especially for component replacements in commercial fleets and older vehicles.

Future Outlook

The future of the automotive steering systems market is deeply interwoven with the evolution of mobility itself. With autonomous vehicles, shared mobility, and electrification shaping the next phase of automotive development, steering technologies will need to adapt rapidly. We anticipate:

• Wider deployment of steer-by-wire systems across vehicle classes, especially in EVs and autonomous vehicles.
• Deep integration with vehicle connectivity platforms, allowing remote diagnostics, updates, and real-time control.
• Advancements in fail-safe mechanisms for steer-by-wire systems to meet safety regulations.
• Rising adoption of modular steering architectures, enabling manufacturers to streamline production and enhance vehicle customization.

Segmentation Overview

By Steering System:

• Manual Steering
• Electrically Powered Steering
• Electro-Hydraulic Powered Steering
• Hydraulic Powered Steering

By Component:

• Hydraulic Pump
• Steering Sensor & Column
• Electric Motor
• Others

By Sales Channel:

• OEM (Original Equipment Manufacturer)
• Aftermarket

By Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

10 Benefits of the Research Report

1. Comprehensive Market Overview: Understand global trends, forecasts, and developments in steering technologies.
2. In-depth Segment Analysis: Gain insights into different types of steering systems and their market share.
3. Growth Forecasts through 2030: Make long-term strategic decisions based on market projections.
4. Technology Trends Insight: Stay ahead of innovations like steer-by-wire, AI integration, and EV compatibility.
5. Regional Opportunities: Discover emerging markets and high-growth regions like North America and Asia-Pacific.
6. Competitive Landscape Evaluation: Benchmark your position relative to top industry players.
7. Consumer Behavior Insights: Learn what drives demand for smart steering solutions.
8. Investment Opportunity Mapping: Identify sectors primed for investment, innovation, and expansion.
9. Customization Options: Get tailored analysis specific to your business goals.
10. Regulatory and Safety Compliance: Understand how changing policies will shape the steering systems market.

Competitive Analysis

The global automotive steering systems market is highly competitive, with both established conglomerates and specialized firms vying for market share. Innovation, cost efficiency, and strategic partnerships define the competitive edge.

Key Players Include:

• ZF Friedrichshafen AG
  A leader in driveline and chassis technologies, ZF has pioneered in steer-by-wire and EPS development.
• Mitsubishi Electric Corporation
  Focuses on intelligent EPS systems and power-saving steering solutions, particularly for EVs.
• HL Mando Corp.
  Delivers high-performance steering solutions, especially in the APAC region, backed by strong R&D.
• JTEKT Corporation
  Renowned for its compact, reliable steering systems integrated with AI and digital controls.
• Nexteer Automotive Corporation
  Specializes in motion control technologies and supplies to global automakers.
• thyssenkrupp AG
  Known for its electro-mechanical steering columns and steering technologies for high-end vehicles.
• Robert Bosch GmbH
  Offers intelligent steering modules, playing a pivotal role in connected and autonomous driving systems.
• Hitachi Astemo, Ltd.
  Contributes to lightweight and space-efficient steering units optimized for EVs.
• Magna International Inc.
  Innovates in driver-assistance integration and modular steering systems.
• Aisin Seiki Co., Ltd.
  Focuses on enhancing driver experience and integrating steering with ADAS features.

These companies compete across various fronts including pricing, quality, service, innovation, and sustainability. As the industry leans toward electrification and autonomy, companies with strong software integration capabilities and agile production models will gain a significant advantage.

Conclusion

The automotive steering systems market is at a pivotal crossroads where tradition meets transformation. From mechanical control to AI-guided precision, the steering wheel has become a central component in the journey toward safer, cleaner, and smarter mobility.

As OEMs innovate and consumers demand more intelligent, efficient, and personalized driving experiences, steering systems will remain a key battleground for differentiation and performance. With rising production, technological breakthroughs, and regulatory support, the market outlook through 2030 remains robust and promising for stakeholders across the value chain.

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