Automotive Steering Systems Market Future Growth Forecast 2025–2035
Dec 9
<p>The <a href="https://www.databridgemarketresearch.com/reports/global-automotive-steering-systems-market"><u>automotive steering systems industry</u></a> is undergoing a significant transformation, driven by the shift towards electrification, stringent safety regulations, and the rising demand for sophisticated vehicle control features. These systems, essential for vehicle maneuverability and safety, have evolved from basic manual linkages to highly advanced electronic power steering (EPS) and steer-by-wire technologies.</p><h3><strong>Market Overview and Key Data</strong></h3><p>The global market for automotive steering systems is positioned for steady growth in the coming years. According to Data Bridge Market Research, the market was valued at <strong>USD 35,832.98 million in 2021</strong> and is projected to reach <strong>USD 53,143.66 million by 2029</strong>. This robust expansion translates to a Compound Annual Growth Rate (CAGR) of <strong>5.05%</strong> during the forecast period of 2022 to 2029.</p><p>A key data point for the near-term forecast, based on projections from various industry reports, indicates that the global automotive steering systems market size is anticipated to be approximately <strong>USD 30.9 Billion by the end of 2025</strong>, reflecting the consistent adoption of new steering technologies across global vehicle platforms.</p><p><strong>Get a Sample Report of Automotive Steering Systems Forecast @</strong><a href="https://www.databridgemarketresearch.com/request-a-sample?dbmr=global-automotive-steering-systems-market"><u>https://www.databridgemarketresearch.com/request-a-sample?dbmr=global-automotive-steering-systems-market</u></a></p><h3><strong>Market Segmentation Analysis and Insights</strong></h3><p>The market is primarily segmented based on the following key criteria, which highlight the current technological landscape and demand drivers:</p><table><tbody><tr><td><p><strong>Segmentation Criterion</strong></p></td><td><p><strong>Key Segments</strong></p></td><td><p><strong>Market Insight</strong></p></td></tr><tr><td><p><strong>Technology</strong></p></td><td><p><strong>Electric Power Steering (EPS)</strong>, Hydraulic Power Steering (HPS), Electro-Hydraulic Power Steering (EHPS), Manual Steering.</p></td><td><p><strong>EPS</strong> is the dominant and fastest-growing segment due to its fuel efficiency, reduced weight, and compatibility with ADAS and autonomous driving features.</p></td></tr><tr><td><p><strong>Vehicle Type</strong></p></td><td><p><strong>Passenger Cars (PC)</strong>, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV).</p></td><td><p><strong>Passenger Cars</strong> hold the largest market share, fueled by high production volumes and the increasing demand for advanced steering-enabled comfort and safety features.</p></td></tr><tr><td><p><strong>Component</strong></p></td><td><p>Hydraulic Pump, Steering Column/Rack, <strong>Sensors</strong>, Electric Motor, Others.</p></td><td><p>The <strong>Sensors</strong> segment (e.g., torque sensors, angle sensors) is a high-growth area, driven by the integration of steering systems with sophisticated Advanced Driver-Assistance Systems (ADAS).</p></td></tr><tr><td><p><strong>Sales Channel</strong></p></td><td><p>Original Equipment Manufacturer (OEM), Aftermarket.</p></td><td><p><strong>OEM</strong> dominates the market due to the essential nature of steering components being fitted during initial vehicle manufacturing.</p></td></tr></tbody></table><h3><strong>Key Players in the Automotive Steering Systems</strong></h3><p>The global automotive steering systems market is highly competitive and dominated by a few established multinational corporations that invest heavily in research and development to drive innovation, particularly in the realm of electronic and steer-by-wire systems.</p><p>The prominent companies steering the market include:</p><p><strong>Mando Corp.</strong> (South Korea)</p><p><strong>ZF Friedrichshafen AG</strong> (Germany)</p><p><strong>Robert Bosch GmbH</strong> (Germany)</p><p><strong>JTEKT Corporation.</strong> (Japan)</p><p><strong>thyssenkrupp AG</strong> (Germany)</p><p><strong>NSK Ltd.</strong> (Japan)</p><p><strong>Schaeffler AG</strong> (Germany)</p><p><strong>MAHLE GmbH</strong> (Germany)</p><p><strong>Hanon Systems</strong> (South Korea)</p><p><strong>DENSO CORPORATION.</strong> (Japan)</p><p><strong>HELLA GmbH & Co. KGaA</strong> (Germany)</p><p><strong>Eaton.</strong> (Ireland)</p><p><strong>COBO</strong> (China)</p><p><strong>Kongsberg Automotive</strong> (Switzerland)</p><p><strong>Leopold Kostal GmbH & Co. KG</strong> (U.S.)</p><p><strong>Pailton Engineering</strong> (U.S.)</p><p><strong>Do you have any specific queries or need any Automotive Steering Systems Submit your inquiry here @</strong><a href="https://www.databridgemarketresearch.com/inquire-before-buying?dbmr=global-automotive-steering-systems-market"><u>https://www.databridgemarketresearch.com/inquire-before-buying?dbmr=global-automotive-steering-systems-market</u></a></p><p>These players are primarily focused on strategic acquisitions, technological collaborations, and product portfolio expansion to maintain their competitive edge in a rapidly evolving industry.</p><h3><strong>Driving Factors and Market Restraints</strong></h3><p>The market growth is robustly supported by several key factors:</p><p><strong>Vehicle Electrification:</strong> Electric Vehicles (EVs) universally adopt EPS systems due to their energy efficiency compared to traditional hydraulic systems, which is a major growth catalyst.</p><p><strong>Integration with ADAS:</strong> The widespread adoption of ADAS and the move towards autonomous vehicles necessitates highly precise and electronically controlled steering systems (EPS and eventually Steer-by-Wire), which directly propels demand.</p><p><strong>Fuel Efficiency and Emission Norms:</strong> Global regulations mandating lower fuel consumption and reduced CO2 emissions encourage automakers to switch to the lighter and more efficient EPS technology.</p><p><strong>Increased Vehicle Production:</strong> Rising disposable income and vehicle sales, especially in emerging economies like the Asia-Pacific region, contribute significantly to overall demand.</p><p>Conversely, the market faces certain restraining factors:</p><p><strong>High Initial Cost:</strong> The complexity and advanced technology of EPS and EHPS systems result in a higher initial cost compared to conventional HPS systems.</p><p><strong>System Reliability Concerns:</strong> The reliance on complex electronics and software in modern steering systems raises potential concerns regarding electronic failure and cybersecurity, which manufacturers must address through robust redundancy and safety protocols.</p><p><strong>Get A Buy Now Report Automotive Steering Systems Forecast @</strong><a href="https://www.databridgemarketresearch.com/checkout/buy/global-automotive-steering-systems-market/compare-licence"><u>https://www.databridgemarketresearch.com/checkout/buy/global-automotive-steering-systems-market/compare-licence</u></a></p><h3><strong>Future Outlook</strong></h3><p>The Automotive Steering Systems market is at the confluence of several major industry trends, most notably electrification and vehicle autonomy. The market's consistent growth, evidenced by the projected <strong>5.05% CAGR</strong> through 2029, is fundamentally rooted in the dominant shift towards <strong>Electric Power Steering (EPS)</strong>. This technology not only aligns with global mandates for fuel efficiency and reduced emissions but also serves as the foundational interface for next-generation ADAS features.</p><p>Geographically, the Asia-Pacific region is expected to lead market growth, driven by escalating vehicle production and increasing adoption of advanced features. The key players will continue to focus on developing lighter, more sophisticated, and cyber-secure steering solutions, with <strong>Steer-by-Wire (SbW)</strong> technology emerging as the ultimate future paradigm, promising complete integration with fully autonomous driving systems. The market is thus poised for continuous innovation and expansion, cementing its critical role in the future of mobility.</p><p><strong>About Us:</strong><br />Data Bridge is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. 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