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Steering Gear Box Market Size And Revenue Outlook Through 2030
The steering gear box market size has grown strongly in recent years. It will grow from $17.66 billion in 2025 to $18.58 billion in 2026 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to automotive production growth, adoption of hydraulic steering, demand for driving comfort, expansion of commercial vehicle fleet, mechanical steering systems usage.
The steering gear box market size is expected to see steady growth in the next few years. It will grow to $22.47 billion in 2030 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to electric vehicle penetration, steer-by-wire development, adas integration, demand for fuel efficiency, lightweight vehicle design. Major trends in the forecast period include shift toward electric steering systems, rising demand for power-assisted steering, integration with advanced driver assistance systems, lightweight steering component adoption, growth in aftermarket replacements.
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Steering Gear Box Market Growth Factors: What’s Supporting Expansion?
The increasing adoption of electric and autonomous vehicles is expected to propel the growth of the steering gearbox market going forward. Electric and autonomous vehicles refer to cars that run on electric power and are capable of driving themselves using advanced technologies. The rise in electric and autonomous vehicles is driven by sustainability goals and technological advancements, as they reduce carbon emissions and enhance driving efficiency through automation. Steering gearboxes enhance the performance of electric and autonomous vehicles by providing precise control and responsiveness, which are essential for accurate automated navigation and improved energy efficiency. For instance, in January 2024, according to Kelley Blue Book, a US-based Cox Automotive company, in 2023, a record 1.2 million car buyers in the United States chose electric vehicles, which accounted for 7.6% of the entire U.S. vehicle market, up from 5.9% in 2022. Furthermore, in December 2024, according to the National Highway Traffic Safety Administration, a US-based non-profit organization, by 2030, an estimated 4.5 million self-driving vehicles are expected to be operating on U.S. roads. Therefore, the increasing adoption of electric and autonomous vehicles is driving the growth of the steering gearbox market.
Steering Gear Box Market Segment Performance And Emerging Opportunities
The steering gear box market covered in this report is segmented –
1) By Type: Electric Steering Gear Box, Hydraulic Steering Gear Box, Manual Steering Gear Box
2) By Application: Passenger Vehicles, Commercial Vehicles, Heavy Machinery
3) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
4) By End-Use Industry: Automotive, Industrial Machinery
Subsegments:
1) By Electric Steering Gear Box: Column-Electric Steering Gear Box, Pinion-Electric Steering Gear Box, Rack-Electric Steering Gear Box
2) By Hydraulic Steering Gear Box: Recirculating Ball Steering Gear Box, Rack-And-Pinion Hydraulic Steering Gear Box
3) By Manual Steering Gear Box: Recirculating Ball Steering Gear Box, Worm-and-Pinion Steering Gear Box
Steering Gear Box Market Industry Trends: What’s Reshaping Demand?
Major companies operating in the steering gearbox market are focusing on developing advanced products such as electro-hydraulic steering gearboxes to enhance vehicle handling and support the transition toward electric and autonomous vehicles. Electro-hydraulic steering gearboxes integrate hydraulic assistance with electronic control to deliver accurate and responsive steering. Their enhanced efficiency and flexibility make them well-suited for next-generation vehicles. For instance, in April 2024, Kawasaki Heavy Industries, a Japan-based aerospace company, launched its new Unified-Edition E-series steering gear. This innovative product combines the steering gear, control box, and other components that were traditionally installed separately. Designed for vessel maneuvering machinery, it helps control the rudder and course of the ship. The system integrates key components, including the rudder angle indicator, into a unified package. This consolidation improves system efficiency and reduces labor and coordination efforts for shipbuilders and owners.
Steering Gear Box Market Key Players: Which Companies Lead Industry Competition?
Major companies operating in the steering gear box market report include ZF Friedrichshafen AG, Robert Bosch GmbH, JTEKT Corporation, Nexteer Automotive Corporation, NSK Ltd., Hitachi Astemo Ltd., Hyundai Mobis Co. Ltd., Thyssenkrupp AG, Rane Holdings Limited, Mitsubishi Heavy Industries Ltd., Cardone Industries Inc., MAVAL Industries LLC, Lares Corporation, Redhead Steering Gears Inc., Borgeson Universal Company Inc., Sweet Manufacturing Inc., Moog Inc., GMB Corporation, Bosch Automotive Steering GmbH, Dana Incorporated, KYB Corporation, China Automotive Systems Inc., Parker Hannifin Corporation, Eaton Corporation plc, Showa Corporation
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Steering Gear Box Market Global Footprint: Which Region Leads The Market?
North America was the largest region in the steering gear box market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the steering gear box market report include 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.
