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Automotive Steering System Market Market Disruption Trends and Insights

Automotive Steering System Market by Component (Hydraulic Pump, Steering/Coloumn/Rack, Sensors, Electric Motor, Other Components), by Vehicle Type (Passenger Cars, Commercial Vehicles), by Mechanism (Electronic Power Steering (EPS), Hydraulic Power Steering (HPS), Electrically Assisted Hydraulic Power Steering), by North America (United States, Canada, Rest of North America), by Europe (Germany, United Kingdom, France, Russia, Rest of Europe), by Asia Pacific (India, China, Japan, South Korea, Rest of Asia Pacific), by South America (Brazil, Argentina, Rest of South America), by Middle East and Africa (United Arab Emirates, Saudi Arabia, Rest of Middle East and Africa) Forecast 2026-2034

Base Year: 2025
234 Pages
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Automotive Steering System Market Market Disruption Trends and Insights

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Geographic Coverage of Automotive Steering System Market

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Automotive Steering System Market REPORT HIGHLIGHTS

AspectsDetails
Study Period 2020-2034
Base Year 2025
Estimated Year 2026
Forecast Period2026-2034
Historical Period2020-2025
Growth RateCAGR of 2.3% from 2020-2034
Segmentation
    • By Component
      • Hydraulic Pump
      • Steering/Coloumn/Rack
      • Sensors
      • Electric Motor
      • Other Components
    • By Vehicle Type
      • Passenger Cars
      • Commercial Vehicles
    • By Mechanism
      • Electronic Power Steering (EPS)
      • Hydraulic Power Steering (HPS)
      • Electrically Assisted Hydraulic Power Steering
  • By Geography
    • North America
      • United States
      • Canada
      • Rest of North America
    • Europe
      • Germany
      • United Kingdom
      • France
      • Russia
      • Rest of Europe
    • Asia Pacific
      • India
      • China
      • Japan
      • South Korea
      • Rest of Asia Pacific
    • South America
      • Brazil
      • Argentina
      • Rest of South America
    • Middle East and Africa
      • United Arab Emirates
      • Saudi Arabia
      • Rest of Middle East and Africa

Table of Contents

  1. 1. Introduction
    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Objective
    • 1.4. Definitions and Assumptions
  2. 2. Executive Summary
    • 2.1. Market Snapshot
  3. 3. Market Dynamics
    • 3.1. Market Drivers
    • 3.2. Market Restrains
    • 3.3. Market Trends
    • 3.4. Market Opportunities
  4. 4. Market Factor Analysis
    • 4.1. Porters Five Forces
      • 4.1.1. Bargaining Power of Suppliers
      • 4.1.2. Bargaining Power of Buyers
      • 4.1.3. Threat of New Entrants
      • 4.1.4. Threat of Substitutes
      • 4.1.5. Competitive Rivalry
    • 4.2. PESTEL analysis
    • 4.3. BCG Analysis
      • 4.3.1. Stars (High Growth, High Market Share)
      • 4.3.2. Cash Cows (Low Growth, High Market Share)
      • 4.3.3. Question Mark (High Growth, Low Market Share)
      • 4.3.4. Dogs (Low Growth, Low Market Share)
    • 4.4. Ansoff Matrix Analysis
    • 4.5. Supply Chain Analysis
    • 4.6. Regulatory Landscape
    • 4.7. Current Market Potential and Opportunity Assessment (TAM–SAM–SOM Framework)
    • 4.8. PMV Analyst Note
  5. 5. Market Analysis, Insights and Forecast 2021-2033
    • 5.1. Market Analysis, Insights and Forecast - by Component
      • 5.1.1. Hydraulic Pump
      • 5.1.2. Steering/Coloumn/Rack
      • 5.1.3. Sensors
      • 5.1.4. Electric Motor
      • 5.1.5. Other Components
    • 5.2. Market Analysis, Insights and Forecast - by Vehicle Type
      • 5.2.1. Passenger Cars
      • 5.2.2. Commercial Vehicles
    • 5.3. Market Analysis, Insights and Forecast - by Mechanism
      • 5.3.1. Electronic Power Steering (EPS)
      • 5.3.2. Hydraulic Power Steering (HPS)
      • 5.3.3. Electrically Assisted Hydraulic Power Steering
    • 5.4. Market Analysis, Insights and Forecast - by Region
      • 5.4.1. North America
      • 5.4.2. Europe
      • 5.4.3. Asia Pacific
      • 5.4.4. South America
      • 5.4.5. Middle East and Africa
  6. 6. Global Automotive Steering System Market Analysis, Insights and Forecast, 2021-2033
    • 6.1. Market Analysis, Insights and Forecast - by Component
      • 6.1.1. Hydraulic Pump
      • 6.1.2. Steering/Coloumn/Rack
      • 6.1.3. Sensors
      • 6.1.4. Electric Motor
      • 6.1.5. Other Components
    • 6.2. Market Analysis, Insights and Forecast - by Vehicle Type
      • 6.2.1. Passenger Cars
      • 6.2.2. Commercial Vehicles
    • 6.3. Market Analysis, Insights and Forecast - by Mechanism
      • 6.3.1. Electronic Power Steering (EPS)
      • 6.3.2. Hydraulic Power Steering (HPS)
      • 6.3.3. Electrically Assisted Hydraulic Power Steering
  7. 7. North America Automotive Steering System Market Analysis, Insights and Forecast, 2020-2032
    • 7.1. Market Analysis, Insights and Forecast - by Component
      • 7.1.1. Hydraulic Pump
      • 7.1.2. Steering/Coloumn/Rack
      • 7.1.3. Sensors
      • 7.1.4. Electric Motor
      • 7.1.5. Other Components
    • 7.2. Market Analysis, Insights and Forecast - by Vehicle Type
      • 7.2.1. Passenger Cars
      • 7.2.2. Commercial Vehicles
    • 7.3. Market Analysis, Insights and Forecast - by Mechanism
      • 7.3.1. Electronic Power Steering (EPS)
      • 7.3.2. Hydraulic Power Steering (HPS)
      • 7.3.3. Electrically Assisted Hydraulic Power Steering
  8. 8. Europe Automotive Steering System Market Analysis, Insights and Forecast, 2020-2032
    • 8.1. Market Analysis, Insights and Forecast - by Component
      • 8.1.1. Hydraulic Pump
      • 8.1.2. Steering/Coloumn/Rack
      • 8.1.3. Sensors
      • 8.1.4. Electric Motor
      • 8.1.5. Other Components
    • 8.2. Market Analysis, Insights and Forecast - by Vehicle Type
      • 8.2.1. Passenger Cars
      • 8.2.2. Commercial Vehicles
    • 8.3. Market Analysis, Insights and Forecast - by Mechanism
      • 8.3.1. Electronic Power Steering (EPS)
      • 8.3.2. Hydraulic Power Steering (HPS)
      • 8.3.3. Electrically Assisted Hydraulic Power Steering
  9. 9. Asia Pacific Automotive Steering System Market Analysis, Insights and Forecast, 2020-2032
    • 9.1. Market Analysis, Insights and Forecast - by Component
      • 9.1.1. Hydraulic Pump
      • 9.1.2. Steering/Coloumn/Rack
      • 9.1.3. Sensors
      • 9.1.4. Electric Motor
      • 9.1.5. Other Components
    • 9.2. Market Analysis, Insights and Forecast - by Vehicle Type
      • 9.2.1. Passenger Cars
      • 9.2.2. Commercial Vehicles
    • 9.3. Market Analysis, Insights and Forecast - by Mechanism
      • 9.3.1. Electronic Power Steering (EPS)
      • 9.3.2. Hydraulic Power Steering (HPS)
      • 9.3.3. Electrically Assisted Hydraulic Power Steering
  10. 10. South America Automotive Steering System Market Analysis, Insights and Forecast, 2020-2032
    • 10.1. Market Analysis, Insights and Forecast - by Component
      • 10.1.1. Hydraulic Pump
      • 10.1.2. Steering/Coloumn/Rack
      • 10.1.3. Sensors
      • 10.1.4. Electric Motor
      • 10.1.5. Other Components
    • 10.2. Market Analysis, Insights and Forecast - by Vehicle Type
      • 10.2.1. Passenger Cars
      • 10.2.2. Commercial Vehicles
    • 10.3. Market Analysis, Insights and Forecast - by Mechanism
      • 10.3.1. Electronic Power Steering (EPS)
      • 10.3.2. Hydraulic Power Steering (HPS)
      • 10.3.3. Electrically Assisted Hydraulic Power Steering
  11. 11. Middle East and Africa Automotive Steering System Market Analysis, Insights and Forecast, 2020-2032
    • 11.1. Market Analysis, Insights and Forecast - by Component
      • 11.1.1. Hydraulic Pump
      • 11.1.2. Steering/Coloumn/Rack
      • 11.1.3. Sensors
      • 11.1.4. Electric Motor
      • 11.1.5. Other Components
    • 11.2. Market Analysis, Insights and Forecast - by Vehicle Type
      • 11.2.1. Passenger Cars
      • 11.2.2. Commercial Vehicles
    • 11.3. Market Analysis, Insights and Forecast - by Mechanism
      • 11.3.1. Electronic Power Steering (EPS)
      • 11.3.2. Hydraulic Power Steering (HPS)
      • 11.3.3. Electrically Assisted Hydraulic Power Steering
  12. 12. Competitive Analysis
      • 12.1. Company Profiles
        • 12.1.1 JTEKT Corporation
          • 12.1.1.1. Company Overview
          • 12.1.1.2. Products
          • 12.1.1.3. Company Financials
          • 12.1.1.4. SWOT Analysis
        • 12.1.2 Sona Corporation
          • 12.1.2.1. Company Overview
          • 12.1.2.2. Products
          • 12.1.2.3. Company Financials
          • 12.1.2.4. SWOT Analysis
        • 12.1.3 Showa Corporation
          • 12.1.3.1. Company Overview
          • 12.1.3.2. Products
          • 12.1.3.3. Company Financials
          • 12.1.3.4. SWOT Analysis
        • 12.1.4 NSK Ltd
          • 12.1.4.1. Company Overview
          • 12.1.4.2. Products
          • 12.1.4.3. Company Financials
          • 12.1.4.4. SWOT Analysis
        • 12.1.5 Mando Corporation
          • 12.1.5.1. Company Overview
          • 12.1.5.2. Products
          • 12.1.5.3. Company Financials
          • 12.1.5.4. SWOT Analysis
        • 12.1.6 Robert Bosch GmbH
          • 12.1.6.1. Company Overview
          • 12.1.6.2. Products
          • 12.1.6.3. Company Financials
          • 12.1.6.4. SWOT Analysis
        • 12.1.7 Hitachi Automotive Systems Limited*List Not Exhaustive
          • 12.1.7.1. Company Overview
          • 12.1.7.2. Products
          • 12.1.7.3. Company Financials
          • 12.1.7.4. SWOT Analysis
        • 12.1.8 Nexteer Automotive Corporation
          • 12.1.8.1. Company Overview
          • 12.1.8.2. Products
          • 12.1.8.3. Company Financials
          • 12.1.8.4. SWOT Analysis
        • 12.1.9 ZF Friedrichshafen AG
          • 12.1.9.1. Company Overview
          • 12.1.9.2. Products
          • 12.1.9.3. Company Financials
          • 12.1.9.4. SWOT Analysis
      • 12.2. Market Entropy
        • 12.2.1 Company's Key Areas Served
        • 12.2.2 Recent Developments
      • 12.3. Company Market Share Analysis 2025
        • 12.3.1 Top 5 Companies Market Share Analysis
        • 12.3.2 Top 3 Companies Market Share Analysis
    • 12.4. List of Potential Customers
  13. 13. Research Methodology

    List of Figures

    1. Figure 1: Global Automotive Steering System Market Revenue Breakdown (billion, %) by Region 2025 & 2033
    2. Figure 2: North America Automotive Steering System Market Revenue (billion), by Component 2025 & 2033
    3. Figure 3: North America Automotive Steering System Market Revenue Share (%), by Component 2025 & 2033
    4. Figure 4: North America Automotive Steering System Market Revenue (billion), by Vehicle Type 2025 & 2033
    5. Figure 5: North America Automotive Steering System Market Revenue Share (%), by Vehicle Type 2025 & 2033
    6. Figure 6: North America Automotive Steering System Market Revenue (billion), by Mechanism 2025 & 2033
    7. Figure 7: North America Automotive Steering System Market Revenue Share (%), by Mechanism 2025 & 2033
    8. Figure 8: North America Automotive Steering System Market Revenue (billion), by Country 2025 & 2033
    9. Figure 9: North America Automotive Steering System Market Revenue Share (%), by Country 2025 & 2033
    10. Figure 10: Europe Automotive Steering System Market Revenue (billion), by Component 2025 & 2033
    11. Figure 11: Europe Automotive Steering System Market Revenue Share (%), by Component 2025 & 2033
    12. Figure 12: Europe Automotive Steering System Market Revenue (billion), by Vehicle Type 2025 & 2033
    13. Figure 13: Europe Automotive Steering System Market Revenue Share (%), by Vehicle Type 2025 & 2033
    14. Figure 14: Europe Automotive Steering System Market Revenue (billion), by Mechanism 2025 & 2033
    15. Figure 15: Europe Automotive Steering System Market Revenue Share (%), by Mechanism 2025 & 2033
    16. Figure 16: Europe Automotive Steering System Market Revenue (billion), by Country 2025 & 2033
    17. Figure 17: Europe Automotive Steering System Market Revenue Share (%), by Country 2025 & 2033
    18. Figure 18: Asia Pacific Automotive Steering System Market Revenue (billion), by Component 2025 & 2033
    19. Figure 19: Asia Pacific Automotive Steering System Market Revenue Share (%), by Component 2025 & 2033
    20. Figure 20: Asia Pacific Automotive Steering System Market Revenue (billion), by Vehicle Type 2025 & 2033
    21. Figure 21: Asia Pacific Automotive Steering System Market Revenue Share (%), by Vehicle Type 2025 & 2033
    22. Figure 22: Asia Pacific Automotive Steering System Market Revenue (billion), by Mechanism 2025 & 2033
    23. Figure 23: Asia Pacific Automotive Steering System Market Revenue Share (%), by Mechanism 2025 & 2033
    24. Figure 24: Asia Pacific Automotive Steering System Market Revenue (billion), by Country 2025 & 2033
    25. Figure 25: Asia Pacific Automotive Steering System Market Revenue Share (%), by Country 2025 & 2033
    26. Figure 26: South America Automotive Steering System Market Revenue (billion), by Component 2025 & 2033
    27. Figure 27: South America Automotive Steering System Market Revenue Share (%), by Component 2025 & 2033
    28. Figure 28: South America Automotive Steering System Market Revenue (billion), by Vehicle Type 2025 & 2033
    29. Figure 29: South America Automotive Steering System Market Revenue Share (%), by Vehicle Type 2025 & 2033
    30. Figure 30: South America Automotive Steering System Market Revenue (billion), by Mechanism 2025 & 2033
    31. Figure 31: South America Automotive Steering System Market Revenue Share (%), by Mechanism 2025 & 2033
    32. Figure 32: South America Automotive Steering System Market Revenue (billion), by Country 2025 & 2033
    33. Figure 33: South America Automotive Steering System Market Revenue Share (%), by Country 2025 & 2033
    34. Figure 34: Middle East and Africa Automotive Steering System Market Revenue (billion), by Component 2025 & 2033
    35. Figure 35: Middle East and Africa Automotive Steering System Market Revenue Share (%), by Component 2025 & 2033
    36. Figure 36: Middle East and Africa Automotive Steering System Market Revenue (billion), by Vehicle Type 2025 & 2033
    37. Figure 37: Middle East and Africa Automotive Steering System Market Revenue Share (%), by Vehicle Type 2025 & 2033
    38. Figure 38: Middle East and Africa Automotive Steering System Market Revenue (billion), by Mechanism 2025 & 2033
    39. Figure 39: Middle East and Africa Automotive Steering System Market Revenue Share (%), by Mechanism 2025 & 2033
    40. Figure 40: Middle East and Africa Automotive Steering System Market Revenue (billion), by Country 2025 & 2033
    41. Figure 41: Middle East and Africa Automotive Steering System Market Revenue Share (%), by Country 2025 & 2033

    List of Tables

    1. Table 1: Global Automotive Steering System Market Revenue billion Forecast, by Component 2020 & 2033
    2. Table 2: Global Automotive Steering System Market Revenue billion Forecast, by Vehicle Type 2020 & 2033
    3. Table 3: Global Automotive Steering System Market Revenue billion Forecast, by Mechanism 2020 & 2033
    4. Table 4: Global Automotive Steering System Market Revenue billion Forecast, by Region 2020 & 2033
    5. Table 5: Global Automotive Steering System Market Revenue billion Forecast, by Component 2020 & 2033
    6. Table 6: Global Automotive Steering System Market Revenue billion Forecast, by Vehicle Type 2020 & 2033
    7. Table 7: Global Automotive Steering System Market Revenue billion Forecast, by Mechanism 2020 & 2033
    8. Table 8: Global Automotive Steering System Market Revenue billion Forecast, by Country 2020 & 2033
    9. Table 9: United States Automotive Steering System Market Revenue (billion) Forecast, by Application 2020 & 2033
    10. Table 10: Canada Automotive Steering System Market Revenue (billion) Forecast, by Application 2020 & 2033
    11. Table 11: Rest of North America Automotive Steering System Market Revenue (billion) Forecast, by Application 2020 & 2033
    12. Table 12: Global Automotive Steering System Market Revenue billion Forecast, by Component 2020 & 2033
    13. Table 13: Global Automotive Steering System Market Revenue billion Forecast, by Vehicle Type 2020 & 2033
    14. Table 14: Global Automotive Steering System Market Revenue billion Forecast, by Mechanism 2020 & 2033
    15. Table 15: Global Automotive Steering System Market Revenue billion Forecast, by Country 2020 & 2033
    16. Table 16: Germany Automotive Steering System Market Revenue (billion) Forecast, by Application 2020 & 2033
    17. Table 17: United Kingdom Automotive Steering System Market Revenue (billion) Forecast, by Application 2020 & 2033
    18. Table 18: France Automotive Steering System Market Revenue (billion) Forecast, by Application 2020 & 2033
    19. Table 19: Russia Automotive Steering System Market Revenue (billion) Forecast, by Application 2020 & 2033
    20. Table 20: Rest of Europe Automotive Steering System Market Revenue (billion) Forecast, by Application 2020 & 2033
    21. Table 21: Global Automotive Steering System Market Revenue billion Forecast, by Component 2020 & 2033
    22. Table 22: Global Automotive Steering System Market Revenue billion Forecast, by Vehicle Type 2020 & 2033
    23. Table 23: Global Automotive Steering System Market Revenue billion Forecast, by Mechanism 2020 & 2033
    24. Table 24: Global Automotive Steering System Market Revenue billion Forecast, by Country 2020 & 2033
    25. Table 25: India Automotive Steering System Market Revenue (billion) Forecast, by Application 2020 & 2033
    26. Table 26: China Automotive Steering System Market Revenue (billion) Forecast, by Application 2020 & 2033
    27. Table 27: Japan Automotive Steering System Market Revenue (billion) Forecast, by Application 2020 & 2033
    28. Table 28: South Korea Automotive Steering System Market Revenue (billion) Forecast, by Application 2020 & 2033
    29. Table 29: Rest of Asia Pacific Automotive Steering System Market Revenue (billion) Forecast, by Application 2020 & 2033
    30. Table 30: Global Automotive Steering System Market Revenue billion Forecast, by Component 2020 & 2033
    31. Table 31: Global Automotive Steering System Market Revenue billion Forecast, by Vehicle Type 2020 & 2033
    32. Table 32: Global Automotive Steering System Market Revenue billion Forecast, by Mechanism 2020 & 2033
    33. Table 33: Global Automotive Steering System Market Revenue billion Forecast, by Country 2020 & 2033
    34. Table 34: Brazil Automotive Steering System Market Revenue (billion) Forecast, by Application 2020 & 2033
    35. Table 35: Argentina Automotive Steering System Market Revenue (billion) Forecast, by Application 2020 & 2033
    36. Table 36: Rest of South America Automotive Steering System Market Revenue (billion) Forecast, by Application 2020 & 2033
    37. Table 37: Global Automotive Steering System Market Revenue billion Forecast, by Component 2020 & 2033
    38. Table 38: Global Automotive Steering System Market Revenue billion Forecast, by Vehicle Type 2020 & 2033
    39. Table 39: Global Automotive Steering System Market Revenue billion Forecast, by Mechanism 2020 & 2033
    40. Table 40: Global Automotive Steering System Market Revenue billion Forecast, by Country 2020 & 2033
    41. Table 41: United Arab Emirates Automotive Steering System Market Revenue (billion) Forecast, by Application 2020 & 2033
    42. Table 42: Saudi Arabia Automotive Steering System Market Revenue (billion) Forecast, by Application 2020 & 2033
    43. Table 43: Rest of Middle East and Africa Automotive Steering System Market Revenue (billion) Forecast, by Application 2020 & 2033

    Frequently Asked Questions

    1. What is the projected Compound Annual Growth Rate (CAGR) of the Automotive Steering System Market?

    The projected CAGR is approximately 2.3%.

    2. Which companies are prominent players in the Automotive Steering System Market?

    Key companies in the market include JTEKT Corporation, Sona Corporation, Showa Corporation, NSK Ltd, Mando Corporation, Robert Bosch GmbH, Hitachi Automotive Systems Limited*List Not Exhaustive, Nexteer Automotive Corporation, ZF Friedrichshafen AG.

    3. What are the main segments of the Automotive Steering System Market?

    The market segments include Component, Vehicle Type, Mechanism.

    4. Can you provide details about the market size?

    The market size is estimated to be USD 35.3 billion as of 2022.

    5. What are some drivers contributing to market growth?

    Investments in Refueling Infrastructure Is Driving the Market Growth.

    6. What are the notable trends driving market growth?

    Increasing Adoption of Sensors.

    7. Are there any restraints impacting market growth?

    Inadequate Regulatory Frameworks is Anticipated to Restrain the Market Growth.

    8. Can you provide examples of recent developments in the market?

    December 2022: Melexis introduced the new MLX90376, an absolute magnetic position sensor IC capable of handling 360° rotary automotive applications while exhibiting high stray field immunity. The device provides cutting-edge sensing for steering and valve applications and supports system integration up to ASIL D-level functional safety.

    9. What pricing options are available for accessing the report?

    Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4750, USD 5250, and USD 8750 respectively.

    10. Is the market size provided in terms of value or volume?

    The market size is provided in terms of value, measured in billion.

    11. Are there any specific market keywords associated with the report?

    Yes, the market keyword associated with the report is "Automotive Steering System Market," which aids in identifying and referencing the specific market segment covered.

    12. How do I determine which pricing option suits my needs best?

    The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.

    13. Are there any additional resources or data provided in the Automotive Steering System Market report?

    While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.

    14. How can I stay updated on further developments or reports in the Automotive Steering System Market?

    To stay informed about further developments, trends, and reports in the Automotive Steering System Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.

    Methodology

    Step 1 - Identification of Relevant Samples Size from Population Database

    Step Chart
    Bar Chart
    Method Chart

    Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

    Approach Chart
    Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.

    Note*: In applicable scenarios

    Step 3 - Data Sources

    Primary Research

    • Web Analytics
    • Survey Reports
    • Research Institute
    • Latest Research Reports
    • Opinion Leaders

    Secondary Research

    • Annual Reports
    • White Paper
    • Latest Press Release
    • Industry Association
    • Paid Database
    • Investor Presentations
    Analyst Chart

    Step 4 - Data Triangulation

    Involves using different sources of information in order to increase the validity of a study

    These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

    Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

    During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

    Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.