Featuring market attractiveness scoring, total addressable market sizing, company benchmarking matrices, interactive Excel dashboards, deeper supply chain intelligence, emerging startup tracking, and granular product-level insights, The Business Research Company’s 2026 market reports are built to deliver research that is both more actionable and more strategically valuable.
#Automotive Steering System Market Forecast: What Value Will The Market Reach By 2030?#_x000D_
The automotive steering system market size has grown steadily in recent years. It will grow from $30.46 billion in 2025 to $31.9 billion in 2026 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to vehicle production growth, transition from manual to power steering, demand for driving comfort, automotive safety improvements, steering system standardization._x000D_
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The automotive steering system market size is expected to see steady growth in the next few years. It will grow to $37.94 billion in 2030 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to electric vehicle penetration, autonomous driving development, software-defined vehicles, demand for energy-efficient steering, integration with vehicle electronics. Major trends in the forecast period include rapid adoption of electric power steering, integration of steering with adas, shift toward steer-by-wire systems, demand for lightweight steering components, growth of software-controlled steering._x000D_
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#Automotive Steering System Market Expansion Drivers: What’s Shaping Future Growth?#_x000D_
The increase in demand for fuel-efficient vehicles is expected to drive the automotive steering system market going forward. Fuel-efficient vehicles are designed to maximize the distance traveled per unit of fuel consumption, typically achieved through technological advancements and engineering innovations to reduce fuel consumption. There is growing awareness about the environmental impact of vehicle emissions, particularly greenhouse gases such as carbon dioxide, contributing to climate change. Fuel-efficient vehicles produce fewer emissions per mile, making them more environmentally friendly. Automotive steering systems contribute to the increase in demand for fuel-efficient vehicles by incorporating lightweight materials and advanced control algorithms, enhancing vehicle aerodynamics, optimizing tire alignment, and reducing overall energy consumption through technologies such as electric power steering (EPS). For instance, in December 2023, according to the data published by the Environmental Protection Agency, a US-based federal government agency, the combined category of electric vehicles (EVs), plug-in hybrid vehicles (PHEVs), and fuel cell electric vehicles (FCVs) increased from comprising 4% of production 7% in 2022, with a projected rise to 12% in 2023. Therefore, the increase in demand for fuel-efficient vehicles is driving the automotive steering system market._x000D_
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#Automotive Steering System Market Segment Landscape: Which Areas Lead Development?#_x000D_
The automotive steering system market covered in this report is segmented – _x000D_
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1) By Type: Electric Power Steering (EPS), Hydraulic Power Steering (HPS), Electro-Hydraulic Power Steering (EHPS), Manual Steering_x000D_
2) By Component: Sensors, Steering Column, Mechanical Rack And Pinion, Electric Motor, Electronic Control Unit (ECU), Hydraulic Pump_x000D_
3) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket_x000D_
4) By Application: Passenger Cars (PCs), Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)_x000D_
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Subsegments:_x000D_
1) By Electric Power Steering (Eps): Column-Assisted Electric Power Steering (C-Eps), Pinion-Assisted Electric Power Steering (P-Eps), Rack-Assisted Electric Power Steering (R-Eps), Fully Electric Steering (Fes)_x000D_
2) By Hydraulic Power Steering (Hps): Recirculating Ball Steering System, Rack And Pinion Hydraulic Power Steering_x000D_
3) By Electro-Hydraulic Power Steering (Ehps): Electro-Hydraulic Steering For Light Commercial Vehicles, Integrated Electro-Hydraulic Systems, EHPS For Heavy Duty Vehicles, Variable Assistance Electro-Hydraulic Steering_x000D_
4) By Manual Steering: Recirculating Ball Manual Steering System, Rack And Pinion Manual Steering System, Worm And Sector Manual Steering System, Manual Steering For Off-Road Vehicles_x000D_
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#Automotive Steering System Market Strategic Trends: What Defines The Next Growth Phase?#_x000D_
Major companies operating in the automotive steering system market are developing high-tech electric steering systems designed specifically for niche low-volume vehicle manufacturers. High-tech electric steering systems provide precise and responsive steering control, improve fuel efficiency, enhance driver safety through advanced features such as lane-keeping assistance, and reduce the overall weight and complexity of the vehicle’s steering mechanism. For instance, in September 2023, Titan Motorsport and Automotive Engineering, a UK-based engineering and technology company, launched an advanced steer-by-wire system. This system features a bespoke electric motor and control system designed and manufactured in-house by Titan, scalability and packaging optimization for various applications, and high tuneability and customization for precise steering responses. This represents significant advancements in electric steering technology, offering high performance and customization._x000D_
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#Automotive Steering System Market Industry Leaders And Competitive Landscape#_x000D_
Major companies operating in the automotive steering system market report include Robert Bosch GmbH, ZF Friedrichshafen AG, JTEKT Corporation, Nexteer Automotive Group Ltd., Thyssenkrupp AG, Denso Corporation, Hyundai Mobis Co. Ltd., Hitachi Astemo Ltd., Mitsubishi Electric Corporation, HL Mando Corporation, China Automotive Systems Inc., TRW Automotive, Showa Corporation, Univance Corporation, Schaeffler AG, Nidec Corporation, GKN Automotive AG, NSK Steering Systems Co. Ltd., Bharat Forge Limited, Marelli Holdings Co. Ltd. _x000D_
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#View The Full Automotive Steering System Market Report:#_x000D_
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#Automotive Steering System Market Geographic Analysis: Where Is Demand Rising Fastest?#_x000D_
North America was the largest region in the automotive steering system market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive steering system market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa._x000D_
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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.
