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Automotive Steering-Mounted Electronics Market Size Outlook: How Fast Will Revenue Grow Through 2030?
The market for automotive steering-mounted electronics has experienced substantial growth recently. This market is projected to expand from $5.54 billion in 2025 to $6.04 billion by 2026, demonstrating a compound annual growth rate (CAGR) of 8.9%. Historically, this expansion has been driven by factors such as the increasing demand for driver convenience features, rising vehicle manufacturing volumes, the widespread adoption of multifunction steering wheels, enhanced regulatory attention to driver safety, and the growing integration of in-vehicle infotainment systems.
The automotive steering-mounted electronics market is projected to experience substantial expansion in the coming years. This market is forecast to reach $8.46 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.8%. Key factors contributing to this anticipated growth include the proliferation of advanced driver assistance systems, an increasing desire for upscale vehicle interiors, the rise of electric and software-defined vehicles, a greater emphasis on mitigating driver distraction, and innovations in steering sensor technology. Significant trends expected during this period encompass ergonomic designs for steering controls, the incorporation of haptic feedback, modular approaches to steering wheel electronics, customizable multi-function control options, and improvements in durability and resistance to vibrations.
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Automotive Steering-Mounted Electronics Market Demand Drivers: What Is Fueling Industry Growth?
The growing adoption of electric vehicles is projected to boost the automotive steering-mounted electronics market moving forward. Electric vehicles (EVs) are automobiles that derive their power entirely or partially from electricity stored in rechargeable batteries, rather than relying solely on traditional internal combustion engines. The increasing embrace of electric vehicles is largely driven by environmental concerns, as they contribute to lower greenhouse gas emissions and reduced air pollution compared to conventional vehicles. Steering-mounted electronics improve vehicles by offering intuitive controls, enhancing driver safety, and enabling the smooth integration of sophisticated infotainment and energy-efficient systems. For instance, according to Cox Automotive, a US-based system software company, electric vehicle (EV) sales in 2023 were revised upward to 1,212,758 units in January 2025, showing a 49% increase from 2022, and saw continued expansion in 2024, rising by 7.3% to reach 1,301,411 units. As a result, the increasing adoption of electric vehicles is a key driver for the growth of the automotive steering-mounted electronics market.
Automotive Steering-Mounted Electronics Market Segment Landscape: Which Areas Lead Market Development?
The automotive steering-mounted electronics market covered in this report is segmented –
1) By Component: Steering Angle Sensor, Steering Wheel Control Module, Steering Column Control Module, Steering Wheel Angle Sensor, Steering Torque Sensor
2) By Product Type: Control Buttons, Touchpads, Scroll Wheels, Other Product Types
3) By Technology: Wired, Wireless
4) By Application: Passenger Vehicles, Commercial Vehicles
5) By Sales Channel: Original Equipment Manufacturer, Aftermarket
Subsegments:
1) By Steering Angle Sensor: Absolute Sensor, Incremental Sensor, Potentiometric Sensor, Optical Sensor
2) By Steering Wheel Control Module: Audio Control Module, Cruise Control Module, Voice Command Module, Multi Function Control Module
3) By Steering Column Control Module: Electronic Lock Module, Tilt And Telescopic Control Module, Ignition Switch Control Module, Steering Position Control Module
4) By Steering Wheel Angle Sensor: Magnetic Sensor, Optical Sensor, Hall Effect Sensor, Capacitive Sensor
5) By Steering Torque Sensor: Piezoelectric Sensor, Strain Gauge Sensor, Magnetoresistive Sensor, Hall Effect Sensor
Automotive Steering-Mounted Electronics Market Transformation Trends: Which Innovations Are Driving Change?
Leading companies in the automotive steering-mounted electronics market are concentrating on developing innovative solutions, such as the steer-by-wire system, to enhance vehicle safety and improve driver convenience. A steer-by-wire system is an electronic steering technology designed to replace the conventional mechanical link between the steering wheel and the vehicle’s wheels with sensors, actuators, and electronic control units. For instance, in August 2025, Hella GmbH And Co. KGaA, a Germany-based manufacturing company, introduced the third generation of its fully electric steer-by-wire steering sensor system to improve precision, safety, and electronic control in modern vehicles. Unlike traditional mechanical steering, this system utilizes electronic sensors, actuators, and control units to connect the steering wheel to the wheels, providing a customizable steering feel, reduced weight, and increased flexibility in vehicle design. It further enhances safety through redundant power and communication systems, supports advanced driving modes and autonomous functions, and boosts driver comfort by filtering road vibrations and enabling dynamic steering adjustments based on speed and driving conditions.
Automotive Steering-Mounted Electronics Market Industry Leaders And Market Competition
Major companies operating in the automotive steering-mounted electronics market are Robert Bosch GmbH, Panasonic Corporation, Denso Corporation, Continental Aktiengesellschaft, ZF Friedrichshafen Aktiengesellschaft, thyssenkrupp Aktiengesellschaft, HyundAI Mobis Co. Ltd., Mitsubishi Electric Corporation, Valeo Société Anonyme (S.A.), JTEKT Corporation, Harman International Industries Incorporated, SKF AB, Hella GmbH And Co. KGaA, Toyoda Gosei Co. Ltd., Alps Alpine Co. Ltd., NSK Ltd., TokAI Rika Co. Ltd., Nexteer Automotive Group Limited., Johnson Electric Holdings Limited., Delphi Technologies PLC
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Automotive Steering-Mounted Electronics Market Regional Analysis: Which Region Leads By Revenue?
Asia-Pacific was the largest region in the automotive steering-mounted electronics market in 2025. The regions covered in the automotive steering-mounted electronics market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.