Global Automotive Steering Market Outlook, 2029

The Global automotive steering market is segmented by type of steering system (manual steering, power steering (hydraulic power steering, electric power steering), others (variable gear ratio steering, rack and pin steering, recirculating ball steering). By Vehicle Type (Passenger Vehicles (Cars, SUVs, Vans), Commercial Vehicles (Trucks, Buses), Off-road Vehicles (ATVs, UTVs, Dirt Bikes)),  By Component (Steering Column, Steering Wheel, Steering Gear, Steering Pump, Steering Sensor, Others), By End Use (OEMs (Original Equipment Manufacturers), Aftermarket).

The Global Automotive steering Market is anticipated to cross USD 45 Billion by 2029, increasing from USD 35.14 Billion in 2023 with 4.96% CAGR by 2024-29.

Automotive Steering Market Analysis

The automotive industry has seen remarkable advancements over the decades, and one critical aspect of vehicle functionality that has undergone significant evolution is the steering system. From the early days of manual steering to the sophisticated electronic systems of today, the mechanism responsible for directing a vehicle's movement has become more refined, responsive, and safer. The evolution of automotive steering systems can be traced back to the rudimentary manual systems used in the earliest automobiles. These early systems relied on direct mechanical linkage between the steering wheel and the front wheels, requiring significant effort from the driver to maneuver the vehicle, especially at low speeds. As automotive technology progressed, hydraulic power steering systems emerged, offering drivers assisted steering by using hydraulic pressure to reduce the effort required to turn the wheel. This innovation greatly enhanced driving comfort and control, particularly in heavier vehicles. In recent years, advancements in electronic technology have led to the widespread adoption of electric power steering (EPS) systems. EPS systems utilize electric motors to assist steering, offering more precise control and adaptability. Furthermore, EPS systems contribute to improved fuel efficiency by operating only when necessary, unlike hydraulic systems that continuously draw power from the engine. Modern automotive steering systems are increasingly integrating advanced technologies to enhance safety, efficiency, and convenience. Features such as adaptive steering, which adjust steering sensitivity based on vehicle speed, and lane-keeping assist, which helps keep the vehicle within its lane, are becoming standard in many vehicles. Furthermore, the rise of autonomous driving technology is reshaping the concept of automotive steering altogether. With self-driving cars becoming a reality, steering systems are evolving to accommodate not just human drivers but also automated driving modes, where the vehicle assumes control of steering tasks. According to the research report, “Global Automotive steering Market Outlook, 2029” published by Bonafide Research, the market is anticipated to cross USD 45 Billion by 2029, increasing from USD 35.14 Billion in 2023. The market is expected to grow with 4.96% CAGR by 2024-29. Safety remains a top priority for both consumers and regulatory bodies. Automotive steering systems play a crucial role in vehicle safety, and advancements in steering technology are enabling the integration of features such as lane-keeping assist, autonomous emergency braking, and collision avoidance systems. The demand for safer vehicles is fueling the adoption of advanced steering systems. Also, manufacturers are under pressure to meet increasingly stringent fuel efficiency and emissions standards. Electric power steering systems, compared to hydraulic systems, consume less energy as they only operate when steering assistance is required. This efficiency improvement contributes to overall fuel savings and aligns with the industry's push towards sustainability. Furthermore, global automotive production is on the rise, driven by increasing consumer demand, urbanization, and economic growth in emerging markets. As the number of vehicles on the road continues to grow, so does the demand for steering systems, creating opportunities for suppliers and manufacturers in the market. Consumers are increasingly seeking vehicles equipped with advanced comfort and convenience features. Smooth and responsive steering systems enhance the driving experience, leading to greater customer satisfaction. Features such as variable effort steering, adaptive steering and semi-autonomous driving capabilities are becoming standard offerings in many vehicles, driving market growth. The demand for smooth driving has increased owing to the usage of construction machinery and hybrid loader worldwide. Hence, this factor is expected to propel the automotive steering system market growth for commercial vehicles. The modern steering system uses a variety of other assistance systems to deliver a superior ride and better feedback. This effective steering system increases the vehicle’s fuel efficiency. Besides, growing demand for fuel-efficient vehicles by the consumers is expected to drive the automotive steering system market revenue. The persistent development in the steering system has led to drastic changes from the manual steering system to the power assist steering system.

What's Inside a Bonafide Research`s industry report?

Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

Download Sample

Market Dynamic

Market DriversConsumer Demand for Comfort and Convenience: Consumers are increasingly seeking vehicles equipped with advanced comfort and convenience features. Smooth and responsive steering systems enhance the driving experience, leading to greater customer satisfaction. Features such as variable effort steering, adaptive steering and semi-autonomous driving capabilities are becoming standard offerings in many vehicles, driving market growth. • Regulatory Standards and Emission Requirements: Regulatory bodies worldwide are imposing stricter standards on vehicle emissions and safety. Steering systems play a crucial role in meeting these standards by improving fuel efficiency, reducing emissions, and enhancing vehicle stability and control. Manufacturers are driven to innovate steering technologies to comply with regulations while meeting consumer demands. Market ChallengesGlobal Supply Chain Disruptions: The automotive industry relies heavily on complex global supply chains. Disruptions such as natural disasters, geopolitical tensions, and the COVID-19 pandemic can disrupt the supply of critical components, impacting production schedules and increasing costs for steering system manufacturers. • Cybersecurity Concerns: With the increasing integration of electronic components and connectivity features in steering systems, cybersecurity has become a significant concern. Hackers could potentially exploit vulnerabilities in steering system software to gain unauthorized access to vehicle controls, posing safety risks. Manufacturers must invest in robust cybersecurity measures to mitigate these threats. Market TrendsSteering System Personalization: As vehicles become more connected and digitally integrated, there is a growing trend towards personalized driving experiences. Steering systems are no exception, with manufacturers exploring ways to allow drivers to customize steering feel, responsiveness, and feedback according to their preferences. This trend caters to the desire for individualized driving experiences among consumers. • Environmental Sustainability: Environmental sustainability is becoming increasingly important in the automotive industry. Manufacturers are developing steering systems with eco-friendly materials and designs to reduce their environmental impact. Additionally, advancements in electric power steering and steer-by-wire technology contribute to overall vehicle efficiency and align with sustainability goals.

Make this report your own

Have queries/questions regarding a report?

Take advantage of intelligence tailored to your business objective

Manmayi Raval

Manmayi Raval

Research Consultant


Automotive Steering Segmentation

By Type of Steering System Manual Steering
Power Steering (Hydraulic Power Steering, Electric Power Steering)
Others(Variable Gear Ratio Steering,Rack and Pinion Steering, Recirculating Ball Steering)
By Vehicle Type Passenger Vehicles (Cars, SUVs, Vans)
Commercial Vehicles (Trucks, Buses)
Off-road Vehicles (ATVs, UTVs, Dirt Bikes)
By Component Steering Column
Steering Wheel
Steering Gear
Steering Pump
Steering Sensor
Others
By End User OEMs (Original Equipment Manufacturers)
Aftermarket
GeographyNorth AmericaUnited States
Canada
Mexico
EuropeGermany
United Kingdom
France
Italy
Spain
Russia
Asia-PacificChina
Japan
India
Australia
South Korea
South AmericaBrazil
Argentina
Colombia
MEAUnited Arab Emirates
Saudi Arabia
South Africa

The steering gear is leading in the automotive steering system market due to its versatility, reliability, and adaptability across various vehicle types and driving conditions. The steering gear is leading in the automotive steering system market primarily due to its versatility, reliability, and adaptability across various vehicle types and driving conditions. Unlike other steering systems, such as electronically controlled systems or steer-by-wire technology, steering gear systems have a long-established history of proven performance and durability in the automotive industry. Steering gear mechanisms, such as rack and pinion and recirculating ball systems, are renowned for their simplicity and mechanical efficiency. These systems can withstand a wide range of driving conditions, from city commuting to off-road terrain, making them suitable for various vehicle types, including passenger cars, SUVs, trucks, and commercial vehicles. Whether it's providing precise handling for sporty driving or offering enhanced durability for rugged environments, steering gear systems can be customized to meet specific performance requirements. Moreover, steering gear systems are preferred for their reliability and longevity. The mechanical nature of these systems reduces the risk of electronic malfunctions or sensor failures, ensuring consistent performance over the vehicle's lifespan. This reliability is particularly crucial for safety-critical components like steering, where any failure could have serious consequences. Additionally, steering gear systems are relatively simple to maintain and repair compared to more complex electronic steering systems, resulting in lower maintenance costs for vehicle owners. Cost-effectiveness is another key factor driving the widespread adoption of steering gear systems. Due to their mechanical design and widespread use in mass-produced vehicles, steering gear components are often more affordable compared to advanced electronic steering technologies. This makes steering gear systems an attractive option for automakers seeking to optimize production costs while maintaining high levels of quality and performance. Power steering, including both hydraulic power steering and electric power steering, is leading in the automotive steering system market due to its widespread adoption, providing drivers with enhanced comfort, ease of maneuverability, and improved driving experience. The dominance of power steering systems, encompassing both hydraulic and electric variants, in the automotive steering system market can be attributed to their transformative impact on the driving experience. These systems address the fundamental challenge of steering effort, particularly in heavier vehicles and at low speeds, by providing assistance to the driver, thereby reducing the amount of physical effort required to turn the steering wheel. Hydraulic power steering (HPS) was the first iteration of power steering to gain widespread adoption in the automotive industry. It operates by using hydraulic pressure generated by a pump driven by the engine to assist in turning the wheels. HPS systems offer smooth and responsive steering, enhancing driver comfort and control, especially in parking maneuvers and tight spaces. While hydraulic systems have been prevalent for decades and are known for their reliability and robustness, they are gradually being replaced by electric power steering (EPS) systems due to their more efficient operation and lower energy consumption. Electric power steering (EPS) systems have emerged as the leading choice in the automotive steering system market due to their numerous advantages over hydraulic systems. EPS systems utilize an electric motor to provide steering assistance, eliminating the need for hydraulic fluid and the associated pump, hoses, and reservoir. This result in simplified design, reduced weight, and improved fuel efficiency, aligning with the industry's focus on sustainability and environmental responsibility. Additionally, EPS systems offer greater flexibility in tuning steering feel and response, allowing for customizable driving experiences tailored to driver preferences and vehicle characteristics. Moreover, EPS systems pave the way for the integration of advanced driver assistance features such as lane-keeping assist and autonomous driving functionalities, further enhancing vehicle safety and convenience. Passenger vehicles, including cars, SUVs, and vans, are leading in the automotive steering system market due to their high production volume and widespread consumer demand, resulting in a significant market share for steering system manufacturers. The dominance of passenger vehicles in the automotive steering system market stems from several key factors that contribute to their high production volume and widespread consumer demand. Passenger vehicles, including cars, SUVs, and vans, represent the largest segment of the automotive market in terms of both sales volume and diversity of models offered by manufacturers. This broad range of vehicle types caters to various consumer preferences, lifestyles, and transportation needs, ranging from compact city cars to spacious family SUVs and versatile multi-purpose vans. Passenger vehicles are produced in vast quantities by automakers worldwide to meet the growing demand from consumers across different regions and demographics. This high production volume translates into a significant market share for steering system manufacturers, who supply steering components and systems to OEMs for integration into new vehicle models. Furthermore, passenger vehicles are at the forefront of technological innovation and feature development in the automotive industry. As consumers demand increasingly sophisticated safety, comfort, and convenience features in their vehicles, automakers are continuously investing in research and development to integrate advanced steering technologies into passenger vehicles. These technologies include electric power steering (EPS) systems, steer-by-wire technology, adaptive steering systems, and advanced driver assistance features such as lane-keeping assist and autonomous driving functionalities. The versatility and adaptability of passenger vehicles make them ideal platforms for testing and implementing new steering technologies. Automakers can leverage the diverse range of vehicle architectures and driving conditions offered by passenger vehicles to refine steering system performance, responsiveness, and durability. This continuous innovation drives further demand for steering systems in the passenger vehicle segment, reinforcing its leadership position in the automotive steering system market. Original Equipment Manufacturers (OEMs) are leading in the automotive steering system market due to their direct integration of steering systems into new vehicles during manufacturing, establishing a strong market presence and customer base. Original Equipment Manufacturers (OEMs) hold a dominant position in the automotive steering system market primarily because they are responsible for the direct integration of steering systems into new vehicles during the manufacturing process. As the entities responsible for producing vehicles for sale to consumers, OEMs have a direct influence on the selection, specification, and integration of steering components and systems into their vehicles. This direct involvement enables OEMs to establish strong partnerships with steering system manufacturers, ensuring the supply of high-quality, reliable, and technologically advanced steering systems for their vehicles. OEMs benefit from long-standing relationships with automakers, built on trust, reliability, and quality assurance. These relationships often span decades, with steering system manufacturers supplying components and systems to OEMs for multiple vehicle models across various segments. This continuity and stability in partnerships contribute to OEMs' leadership position in the market, as automakers rely on trusted suppliers to deliver steering systems that meet their stringent quality and performance standards. Furthermore, OEMs have a deep understanding of consumer preferences, market trends, and regulatory requirements, enabling them to drive innovation and technology adoption in steering systems. OEMs work closely with steering system manufacturers to develop customized solutions that meet specific vehicle requirements, whether it's precise handling for sports cars, enhanced stability for SUVs, or efficiency improvements for electric vehicles. This collaborative approach fosters innovation and differentiation, giving OEMs a competitive edge in the automotive steering system market. Additionally, OEMs have established distribution networks and sales channels that enable them to reach a wide range of customers across different regions and market segments. By incorporating steering systems into their vehicles as standard equipment, OEMs effectively leverage their brand reputation and marketing efforts to promote the value and benefits of their products, further solidifying their leadership position in the market.

Automotive Steering Market Regional Insights

Asia-Pacific is leading in the automotive steering system market due to its robust automotive manufacturing industry, significant production volume, and growing demand for vehicles across the region. Asia-Pacific's dominance in the automotive steering system market can be attributed to several key factors that contribute to its strong market position and growth trajectory. One of the primary reasons for Asia-Pacific's leadership is its robust automotive manufacturing industry, which encompasses a diverse range of countries, including China, Japan, South Korea, and India. These countries are home to some of the world's largest automakers, as well as numerous Tier 1 and Tier 2 suppliers specializing in steering system components and technologies. The significant production volume of vehicles in the Asia-Pacific region further reinforces its leadership in the automotive steering system market. With a rapidly expanding middle class, urbanization, and economic growth driving increased consumer spending power, there is a growing demand for passenger vehicles, commercial vehicles, and electric vehicles across the region. As a result, automakers in Asia-Pacific are ramping up production to meet this demand, leading to a surge in the installation of steering systems in new vehicles. Asia-Pacific's leading position in the automotive steering system market is fueled by its strategic partnerships and collaborations between automakers, steering system manufacturers, and government agencies. These partnerships facilitate technology transfer, knowledge sharing, and investment in research and development initiatives aimed at advancing steering system technologies and enhancing manufacturing capabilities. Asia-Pacific benefits from favorable government policies and incentives aimed at promoting the growth of the automotive industry and attracting foreign investment. Governments in countries like China and India have implemented policies to support domestic manufacturing, encourage innovation, and address environmental concerns, driving further expansion of the automotive sector and the adoption of advanced steering system technologies. Furthermore, Asia-Pacific's leadership in the automotive steering system market is supported by its focus on sustainability, efficiency, and innovation. Automakers in the region are investing in research and development to develop eco-friendly steering systems, such as electric power steering (EPS) and steer-by-wire technology, to meet stringent emissions standards and enhance vehicle performance.

Key Development

• In October 2022, Nexteer introduced a new EPS product with a platform design and an expandable electronic control system; mCEPS meets customers’ needs for an advanced, customizable, and cost-effective steering system that is flexible to customer packaging and other requirements. • In September 2022, Hyundai Mobis launched the Dual Actuator Rear Wheel Steering System. The system can reduce the turning radius by up to 25% and improve stability and comfort when the vehicle turns at high speed. It is expected to be useful, particularly on narrow roads and without parking spaces. Furthermore, the demand for rear-wheel steering systems is increasing in electric vehicles with an enlarged wheelbase. • In May 2022, NSK Ltd. and ThyssenKrupp AG signed a memorandum of understanding to explore a joint venture between NSK Steering and ThyssenKrupp Automotive. The steering businesses of both companies are highly complementary and synergetic in terms of product competencies, geographic footprints, and customer groups. It is expected the combined technological capabilities will enable the joint venture to meet the broad and highly technological needs better. • In December 2022, Robert Bosch Engineering and Business Solutions (RBEI) opened a new smart campus at HITEC City in Hyderabad to support its software-centric product innovations. The Centre of Excellence is a Technology and Innovation R&D center focusing on the Automotive Engineering domain, focusing on Classical Powertrain, Automotive Steering, and other components. • In November 2022, Continental AG announced the completion of the third expansion of its Timi?oara electronic components factory. Every year, the Timi?oara electronic components factory produces over 17 million units of various products, including control units for multiple technologies such as air suspension, power steering, and many other onboard instruments.

Don’t pay for what you don’t need. Save 30%

Customise your report by selecting specific countries or regions

Specify Scope Now
Discount offer

Companies Mentioned

  • Hitachi Group
  • Mitsubishi Electric Corporation
  • Thyssenkrupp Ag
  • Robert Bosch GmbH
  • JTEKT Corporation
  • HYUNDAI MOBIS
  • Jaguar International Corporation
  • ZF Friedrichshafen AG
  • Danfoss
  • Denso Corporation
  • Autoliv Inc.
  • The Rane Group
  • Hella KGaA Hueck & Co
  • NSK Ltd.,
  • Haldex AB
  • HL Mando Corporation
  • Sensata Technologies, Inc.
  • GKN Ltd
  • Nexteer Automotive
  • TT Electronics Plc
Company mentioned

Table of Contents

  • 1. Executive Summary
  • 2. Market Dynamics
  • 2.1. Market Drivers & Opportunities
  • 2.2. Market Restraints & Challenges
  • 2.3. Market Trends
  • 2.3.1. XXXX
  • 2.3.2. XXXX
  • 2.3.3. XXXX
  • 2.3.4. XXXX
  • 2.3.5. XXXX
  • 2.4. Covid-19 Effect
  • 2.5. Supply chain Analysis
  • 2.6. Policy & Regulatory Framework
  • 2.7. Industry Experts Views
  • 3. Research Methodology
  • 3.1. Secondary Research
  • 3.2. Primary Data Collection
  • 3.3. Market Formation & Validation
  • 3.4. Report Writing, Quality Check & Delivery
  • 4. Market Structure
  • 4.1. Market Considerate
  • 4.2. Assumptions
  • 4.3. Limitations
  • 4.4. Abbreviations
  • 4.5. Sources
  • 4.6. Definitions
  • 5. Economic /Demographic Snapshot
  • 6. Global Automotive Steering Market Outlook
  • 6.1. Market Size By Value
  • 6.2. Market Share By Region
  • 6.3. Market Size and Forecast, By Geography
  • 6.4. Market Size and Forecast, By Type of Steering System
  • 6.5. Market Size and Forecast, By Vehicle Type
  • 6.6. Market Size and Forecast, By Component
  • 7. North America Automotive Steering Market Outlook
  • 7.1. Market Size By Value
  • 7.2. Market Share By Country
  • 7.3. Market Size and Forecast, By Type of Steering System
  • 7.4. Market Size and Forecast, By Vehicle Type
  • 7.5. Market Size and Forecast, By Component
  • 7.6. United States Automotive Steering Market Outlook
  • 7.6.1. Market Size By Value
  • 7.6.2. Market Size and Forecast By Type of Steering System
  • 7.6.3. Market Size and Forecast By Vehicle Type
  • 7.6.4. Market Size and Forecast By Component
  • 7.7. Canada Automotive Steering Market Outlook
  • 7.7.1. Market Size By Value
  • 7.7.2. Market Size and Forecast By Type of Steering System
  • 7.7.3. Market Size and Forecast By Vehicle Type
  • 7.7.4. Market Size and Forecast By Component
  • 7.8. Mexico Automotive Steering Market Outlook
  • 7.8.1. Market Size By Value
  • 7.8.2. Market Size and Forecast By Type of Steering System
  • 7.8.3. Market Size and Forecast By Vehicle Type
  • 7.8.4. Market Size and Forecast By Component
  • 8. Europe Automotive Steering Market Outlook
  • 8.1. Market Size By Value
  • 8.2. Market Share By Country
  • 8.3. Market Size and Forecast, By Type of Steering System
  • 8.4. Market Size and Forecast, By Vehicle Type
  • 8.5. Market Size and Forecast, By Component
  • 8.6. Germany Automotive Steering Market Outlook
  • 8.6.1. Market Size By Value
  • 8.6.2. Market Size and Forecast By Type of Steering System
  • 8.6.3. Market Size and Forecast By Vehicle Type
  • 8.6.4. Market Size and Forecast By Component
  • 8.7. United Kingdom Automotive Steering Market Outlook
  • 8.7.1. Market Size By Value
  • 8.7.2. Market Size and Forecast By Type of Steering System
  • 8.7.3. Market Size and Forecast By Vehicle Type
  • 8.7.4. Market Size and Forecast By Component
  • 8.8. France Automotive Steering Market Outlook
  • 8.8.1. Market Size By Value
  • 8.8.2. Market Size and Forecast By Type of Steering System
  • 8.8.3. Market Size and Forecast By Vehicle Type
  • 8.8.4. Market Size and Forecast By Component
  • 8.9. Italy Automotive Steering Market Outlook
  • 8.9.1. Market Size By Value
  • 8.9.2. Market Size and Forecast By Type of Steering System
  • 8.9.3. Market Size and Forecast By Vehicle Type
  • 8.9.4. Market Size and Forecast By Component
  • 8.10. Spain Automotive Steering Market Outlook
  • 8.10.1. Market Size By Value
  • 8.10.2. Market Size and Forecast By Type of Steering System
  • 8.10.3. Market Size and Forecast By Vehicle Type
  • 8.10.4. Market Size and Forecast By Component
  • 8.11. Russia Automotive Steering Market Outlook
  • 8.11.1. Market Size By Value
  • 8.11.2. Market Size and Forecast By Type of Steering System
  • 8.11.3. Market Size and Forecast By Vehicle Type
  • 8.11.4. Market Size and Forecast By Component
  • 9. Asia-Pacific Automotive Steering Market Outlook
  • 9.1. Market Size By Value
  • 9.2. Market Share By Country
  • 9.3. Market Size and Forecast, By Type of Steering System
  • 9.4. Market Size and Forecast, By Vehicle Type
  • 9.5. Market Size and Forecast, By Component
  • 9.6. China Automotive Steering Market Outlook
  • 9.6.1. Market Size By Value
  • 9.6.2. Market Size and Forecast By Type of Steering System
  • 9.6.3. Market Size and Forecast By Vehicle Type
  • 9.6.4. Market Size and Forecast By Component
  • 9.7. Japan Automotive Steering Market Outlook
  • 9.7.1. Market Size By Value
  • 9.7.2. Market Size and Forecast By Type of Steering System
  • 9.7.3. Market Size and Forecast By Vehicle Type
  • 9.7.4. Market Size and Forecast By Component
  • 9.8. India Automotive Steering Market Outlook
  • 9.8.1. Market Size By Value
  • 9.8.2. Market Size and Forecast By Type of Steering System
  • 9.8.3. Market Size and Forecast By Vehicle Type
  • 9.8.4. Market Size and Forecast By Component
  • 9.9. Australia Automotive Steering Market Outlook
  • 9.9.1. Market Size By Value
  • 9.9.2. Market Size and Forecast By Type of Steering System
  • 9.9.3. Market Size and Forecast By Vehicle Type
  • 9.9.4. Market Size and Forecast By Component
  • 9.10. South Korea Automotive Steering Market Outlook
  • 9.10.1. Market Size By Value
  • 9.10.2. Market Size and Forecast By Type of Steering System
  • 9.10.3. Market Size and Forecast By Vehicle Type
  • 9.10.4. Market Size and Forecast By Component
  • 10. South America Automotive Steering Market Outlook
  • 10.1. Market Size By Value
  • 10.2. Market Share By Country
  • 10.3. Market Size and Forecast, By Type of Steering System
  • 10.4. Market Size and Forecast, By Vehicle Type
  • 10.5. Market Size and Forecast, By Component
  • 10.6. Brazil Automotive Steering Market Outlook
  • 10.6.1. Market Size By Value
  • 10.6.2. Market Size and Forecast By Type of Steering System
  • 10.6.3. Market Size and Forecast By Vehicle Type
  • 10.6.4. Market Size and Forecast By Component
  • 10.7. Argentina Automotive Steering Market Outlook
  • 10.7.1. Market Size By Value
  • 10.7.2. Market Size and Forecast By Type of Steering System
  • 10.7.3. Market Size and Forecast By Vehicle Type
  • 10.7.4. Market Size and Forecast By Component
  • 10.8. Columbia Automotive Steering Market Outlook
  • 10.8.1. Market Size By Value
  • 10.8.2. Market Size and Forecast By Type of Steering System
  • 10.8.3. Market Size and Forecast By Vehicle Type
  • 10.8.4. Market Size and Forecast By Component
  • 11. Middle East & Africa Automotive Steering Market Outlook
  • 11.1. Market Size By Value
  • 11.2. Market Share By Country
  • 11.3. Market Size and Forecast, By Type of Steering System
  • 11.4. Market Size and Forecast, By Vehicle Type
  • 11.5. Market Size and Forecast, By Component
  • 11.6. UAE Automotive Steering Market Outlook
  • 11.6.1. Market Size By Value
  • 11.6.2. Market Size and Forecast By Type of Steering System
  • 11.6.3. Market Size and Forecast By Vehicle Type
  • 11.6.4. Market Size and Forecast By Component
  • 11.7. Saudi Arabia Automotive Steering Market Outlook
  • 11.7.1. Market Size By Value
  • 11.7.2. Market Size and Forecast By Type of Steering System
  • 11.7.3. Market Size and Forecast By Vehicle Type
  • 11.7.4. Market Size and Forecast By Component
  • 11.8. South Africa Automotive Steering Market Outlook
  • 11.8.1. Market Size By Value
  • 11.8.2. Market Size and Forecast By Type of Steering System
  • 11.8.3. Market Size and Forecast By Vehicle Type
  • 11.8.4. Market Size and Forecast By Component
  • 12. Competitive Landscape
  • 12.1. Competitive Dashboard
  • 12.2. Business Strategies Adopted by Key Players
  • 12.3. Key Players Market Share Insights and Analysis, 2022
  • 12.4. Key Players Market Positioning Matrix
  • 12.5. Porter's Five Forces
  • 12.6. Company Profile
  • 12.6.1. Robert Bosch GmbH
  • 12.6.1.1. Company Snapshot
  • 12.6.1.2. Company Overview
  • 12.6.1.3. Financial Highlights
  • 12.6.1.4. Geographic Insights
  • 12.6.1.5. Business Segment & Performance
  • 12.6.1.6. Product Portfolio
  • 12.6.1.7. Key Executives
  • 12.6.1.8. Strategic Moves & Developments
  • 12.6.2. JTEKT Corporation
  • 12.6.3. Nexteer Automotive
  • 12.6.4. Hyundai Mobis
  • 12.6.5. NSK Ltd
  • 12.6.6. HL Mando Corporation
  • 12.6.7. ZF Friedrichshafen AG
  • 12.6.8. ThyssenKrupp AG
  • 12.6.9. DENSO Corporation
  • 12.6.10. GKN Ltd
  • 12.6.11. Hella GmbH & Co. KGaA
  • 12.6.12. Mitsubishi Electric Corporation
  • 12.6.13. Hitachi, Ltd.
  • 12.6.14. TT Electronics Plc
  • 12.6.15. Rane Group
  • 12.6.16. Haldex AB
  • 12.6.17. Danfoss A/S
  • 12.6.18. Autoliv, Inc.
  • 12.6.19. Aisin Corporation
  • 12.6.20. Sensata Technologies, Inc.
  • 13. Strategic Recommendations
  • 14. Annexure
  • 14.1. FAQ`s
  • 14.2. Notes
  • 14.3. Related Reports
  • 15. Disclaimer

Table 1: Global Automotive Steering Market Snapshot, By Segmentation (2023 & 2029) (in USD Billion)
Table 2: Influencing Factors for Automotive Steering Market, 2023
Table 3: Top 10 Counties Economic Snapshot 2022
Table 4: Economic Snapshot of Other Prominent Countries 2022
Table 5: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 6: Global Automotive Steering Market Size and Forecast, By Geography (2018 to 2029F) (In USD Billion)
Table 7: Global Automotive Steering Market Size and Forecast, By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 8: Global Automotive Steering Market Size and Forecast, By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 9: Global Automotive Steering Market Size and Forecast, By Component (2018 to 2029F) (In USD Billion)
Table 10: North America Automotive Steering Market Size and Forecast, By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 11: North America Automotive Steering Market Size and Forecast, By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 12: North America Automotive Steering Market Size and Forecast, By Component (2018 to 2029F) (In USD Billion)
Table 13: United States Automotive Steering Market Size and Forecast By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 14: United States Automotive Steering Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 15: United States Automotive Steering Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 16: Canada Automotive Steering Market Size and Forecast By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 17: Canada Automotive Steering Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 18: Canada Automotive Steering Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 19: Mexico Automotive Steering Market Size and Forecast By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 20: Mexico Automotive Steering Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 21: Mexico Automotive Steering Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 22: Europe Automotive Steering Market Size and Forecast, By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 23: Europe Automotive Steering Market Size and Forecast, By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 24: Europe Automotive Steering Market Size and Forecast, By Component (2018 to 2029F) (In USD Billion)
Table 25: Germany Automotive Steering Market Size and Forecast By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 26: Germany Automotive Steering Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 27: Germany Automotive Steering Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 28: United Kingdom Automotive Steering Market Size and Forecast By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 29: United Kingdom Automotive Steering Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 30: United Kingdom Automotive Steering Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 31: France Automotive Steering Market Size and Forecast By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 32: France Automotive Steering Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 33: France Automotive Steering Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 34: Italy Automotive Steering Market Size and Forecast By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 35: Italy Automotive Steering Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 36: Italy Automotive Steering Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 37: Spain Automotive Steering Market Size and Forecast By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 38: Spain Automotive Steering Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 39: Spain Automotive Steering Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 40: Russia Automotive Steering Market Size and Forecast By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 41: Russia Automotive Steering Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 42: Russia Automotive Steering Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 43: Asia-Pacific Automotive Steering Market Size and Forecast, By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 44: Asia-Pacific Automotive Steering Market Size and Forecast, By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 45: Asia-Pacific Automotive Steering Market Size and Forecast, By Component (2018 to 2029F) (In USD Billion)
Table 46: China Automotive Steering Market Size and Forecast By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 47: China Automotive Steering Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 48: China Automotive Steering Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 49: Japan Automotive Steering Market Size and Forecast By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 50: Japan Automotive Steering Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 51: Japan Automotive Steering Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 52: India Automotive Steering Market Size and Forecast By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 53: India Automotive Steering Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 54: India Automotive Steering Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 55: Australia Automotive Steering Market Size and Forecast By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 56: Australia Automotive Steering Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 57: Australia Automotive Steering Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 58: South Korea Automotive Steering Market Size and Forecast By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 59: South Korea Automotive Steering Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 60: South Korea Automotive Steering Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 61: South America Automotive Steering Market Size and Forecast, By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 62: South America Automotive Steering Market Size and Forecast, By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 63: South America Automotive Steering Market Size and Forecast, By Component (2018 to 2029F) (In USD Billion)
Table 64: Brazil Automotive Steering Market Size and Forecast By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 65: Brazil Automotive Steering Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 66: Brazil Automotive Steering Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 67: Argentina Automotive Steering Market Size and Forecast By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 68: Argentina Automotive Steering Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 69: Argentina Automotive Steering Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 70: Colombia Automotive Steering Market Size and Forecast By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 71: Colombia Automotive Steering Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 72: Colombia Automotive Steering Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 73: Middle East & Africa Automotive Steering Market Size and Forecast, By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 74: Middle East & Africa Automotive Steering Market Size and Forecast, By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 75: Middle East & Africa Automotive Steering Market Size and Forecast, By Component (2018 to 2029F) (In USD Billion)
Table 76: United Arab Emirates Automotive Steering Market Size and Forecast By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 77: United Arab Emirates Automotive Steering Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 78: United Arab Emirates Automotive Steering Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 79: Saudi Arabia Automotive Steering Market Size and Forecast By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 80: Saudi Arabia Automotive Steering Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 81: Saudi Arabia Automotive Steering Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 82: South Africa Automotive Steering Market Size and Forecast By Type of Steering System (2018 to 2029F) (In USD Billion)
Table 83: South Africa Automotive Steering Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 84: South Africa Automotive Steering Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)

Figure 1: Global Automotive Steering Market Size (USD Billion) By Region, 2023 & 2029
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global Automotive Steering Market Share By Region (2023)
Figure 6: North America Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: North America Automotive Steering Market Share By Country (2023)
Figure 8: US Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: Canada Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 10: Mexico Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Europe Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 12: Europe Automotive Steering Market Share By Country (2023)
Figure 13: Germany Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 14: UK Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 15: France Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 16: Italy Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 17: Spain Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 18: Russia Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 19: Asia-Pacific Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 20: Asia-Pacific Automotive Steering Market Share By Country (2023)
Figure 21: China Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 22: Japan Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 23: India Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 24: Australia Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 25: South Korea Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 26: South America Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 27: South America Automotive Steering Market Share By Country (2023)
Figure 28: Brazil Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 29: Argentina Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 30: Columbia Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 31: Middle East & Africa Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 32: Middle East & Africa Automotive Steering Market Share By Country (2023)
Figure 33: UAE Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 34: Saudi Arabia Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 35: South Africa Automotive Steering Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 36: Competitive Dashboard of top 5 players, 2023
Figure 37: Market Share insights of key players, 2023
Figure 38: Porter's Five Forces of Global Automotive Steering Market

Automotive Steering Market Research FAQs

Key factors include the increasing demand for vehicles, advancements in steering technologies such as electric power steering (EPS) and drive-by-wire, and the growing emphasis on vehicle safety and comfort.

Some of the major players include JTEKT Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG, Nexteer Automotive, and Mando Corporation.

The Asia-Pacific region, particularly countries like China and India, are expected to contribute significantly due to the growing automotive industry and increasing vehicle production.

Challenges include the high cost of advanced steering systems, stringent safety and emission regulations, and the potential impact of autonomous vehicles on the traditional steering market.

Trends include the shift towards electric power steering, integration of steering systems with advanced driver assistance systems (ADAS), and the development of steering systems for autonomous vehicles.
Logo

Global Automotive Steering Market Outlook, 2029

Contact usWe are friendly and approachable, give us a call.