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PUBLISHER: IMARC | PRODUCT CODE: 1722484
PUBLISHER: IMARC | PRODUCT CODE: 1722484
Automotive Steering System Market Report by Type (Electric Power Steering, Hydraulic Power Steering, Electro-Hydraulic Power Steering, Manual Steering), Component, Vehicle Type, and Region 2025-2033
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PAGES: 139 Pages
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The global automotive steering system market size reached USD 35.0 Billion in 2024. Looking forward, the market is expected to reach USD 46.8 Billion by 2033, exhibiting a growth rate (CAGR) of 3.3% during 2025-2033.
An automotive steering system comprises a set of components, such as steering wheels, gears, and linkages, which are used to control the direction of a vehicle. It also includes a hydraulic booster that works when the engine is running and provides the necessary force while turning the wheels. It assists in converting the rotatory movement of the steering into an angular turning of the front wheels. Besides this, it minimizes wear and tear of tires, prevents road shocks from reaching the driver and provides stability to the vehicle on the road.
Automotive Steering System Market Trends:
The growing demand for automobiles across the globe represents one of the key factors driving the market. In addition, there is a rise in the adoption of power steering systems in vehicles as they offer better control over the vehicle. This, in turn, is propelling the growth of the market. Moreover, effective steering systems help increase the fuel efficiency of vehicles. As a result, the rising demand for fuel-efficient vehicles worldwide is contributing to the growth of the market. Apart from this, governments of several countries are implementing fleet-level regulations to reduce carbon emissions from vehicles. This, coupled with the escalating demand for electric power steering (EPS) systems to improve the safety and overall driving experience, is stimulating the growth of the market. Additionally, the increasing use of sensors in automotive steering systems is positively influencing the market. Other growth-inducing factors are the expanding automotive industry and the growing advanced driver assistance systems (ADAS) and electronic control units (ECU) in automobiles. Furthermore, key market players are introducing drive-by-wire technology to eliminate any mechanical linkages and reduce the weight of the vehicle, which is projected to strengthen the market growth.
Key Market Segmentation:
Breakup by Type:
- Electric Power Steering (EPS)
- Hydraulic Power Steering (HPS)
- Electro-Hydraulic Power Steering (EHPS)
- Manual Steering
Breakup by Component:
- Steering Column
- Steering Wheel Speed Sensors
- Electric Motors
- Hydraulic Pumps
- Others
Breakup by Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being China Automotive Systems Inc., Denso Corporation, Georgsmarienhutte Holding GmbH, Gss Steering Systems LLC, JTEKT Corporation, Knorr-Bremse AG, Mando Corporation, Mitsubishi Electric Corporation, Nexteer Automotive (Pacific Century Motors), NSK Ltd., Robert Bosch Gmbh, Rollax GmbH & Co. KG and thyssenkrupp AG.
Key Questions Answered in This Report
- 1.What was the size of the global automotive steering system market in 2024?
- 2.What is the expected growth rate of the global automotive steering system market during 2025-2033?
- 3.What are the key factors driving the global automotive steering system market?
- 4.What has been the impact of COVID-19 on the global automotive steering system market?
- 5.What is the breakup of the global automotive steering system market based on the type?
- 6.What is the breakup of the global automotive steering system market based on the vehicle type?
- 7.What are the key regions in the global automotive steering system market?
- 8.Who are the key players/companies in the global automotive steering system market?
Product Code: SR112025A5619
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Automotive Steering System Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type
- 6.1 Electric Power Steering (EPS)
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Hydraulic Power Steering (HPS)
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Electro-Hydraulic Power Steering (EHPS)
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Manual Steering
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
7 Market Breakup by Component
- 7.1 Steering Column
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Steering Wheel Speed Sensors
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Electric Motors
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Hydraulic Pumps
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Others
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
8 Market Breakup by Vehicle Type
- 8.1 Passenger Cars
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Light Commercial Vehicles
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Heavy Commercial Vehicles
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 China Automotive Systems Inc.
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.2 Denso Corporation
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 Georgsmarienhutte Holding GmbH
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.3.4 SWOT Analysis
- 14.3.4 Gss Steering Systems LLC
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.5 JTEKT Corporation
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 Knorr-Bremse AG
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Mando Corporation
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 Mitsubishi Electric Corporation
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.8.4 SWOT Analysis
- 14.3.9 Nexteer Automotive (Pacific Century Motors)
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.10 NSK Ltd.
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.11 Robert Bosch Gmbh
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.12 Rollax GmbH & Co. KG
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.12.3 Financials
- 14.3.13 thyssenkrupp AG
- 14.3.13.1 Company Overview
- 14.3.13.2 Product Portfolio
- 14.3.13.3 Financials
- 14.3.13.4 SWOT Analysis
- 14.3.1 China Automotive Systems Inc.
Product Code: SR112025A5619
List of Figures
- Figure 1: Global: Automotive Steering System Market: Major Drivers and Challenges
- Figure 2: Global: Automotive Steering System Market: Sales Value (in Billion USD), 2019-2024
- Figure 3: Global: Automotive Steering System Market Forecast: Sales Value (in Billion USD), 2025-2033
- Figure 4: Global: Automotive Steering System Market: Breakup by Type (in %), 2024
- Figure 5: Global: Automotive Steering System Market: Breakup by Component (in %), 2024
- Figure 6: Global: Automotive Steering System Market: Breakup by Vehicle Type (in %), 2024
- Figure 7: Global: Automotive Steering System Market: Breakup by Region (in %), 2024
- Figure 8: Global: Automotive Steering System (Electric Power Steering) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 9: Global: Automotive Steering System (Electric Power Steering) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 10: Global: Automotive Steering System (Hydraulic Power Steering) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 11: Global: Automotive Steering System (Hydraulic Power Steering) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 12: Global: Automotive Steering System (Electro-Hydraulic Power Steering) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 13: Global: Automotive Steering System (Electro-Hydraulic Power Steering) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 14: Global: Automotive Steering System (Manual Steering) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 15: Global: Automotive Steering System (Manual Steering) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 16: Global: Automotive Steering System (Steering Column) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 17: Global: Automotive Steering System (Steering Column) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 18: Global: Automotive Steering System (Steering Wheel Speed Sensors) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 19: Global: Automotive Steering System (Steering Wheel Speed Sensors) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 20: Global: Automotive Steering System (Electric Motors) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 21: Global: Automotive Steering System (Electric Motors) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 22: Global: Automotive Steering System (Hydraulic Pumps) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 23: Global: Automotive Steering System (Hydraulic Pumps) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 24: Global: Automotive Steering System (Other Components) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 25: Global: Automotive Steering System (Other Components) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 26: Global: Automotive Steering System (Passenger Cars) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 27: Global: Automotive Steering System (Passenger Cars) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 28: Global: Automotive Steering System (Light Commercial Vehicles) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 29: Global: Automotive Steering System (Light Commercial Vehicles) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 30: Global: Automotive Steering System (Heavy Commercial Vehicles) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 31: Global: Automotive Steering System (Heavy Commercial Vehicles) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 32: North America: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 33: North America: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 34: United States: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 35: United States: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 36: Canada: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 37: Canada: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 38: Asia-Pacific: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 39: Asia-Pacific: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 40: China: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 41: China: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 42: Japan: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 43: Japan: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 44: India: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 45: India: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 46: South Korea: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 47: South Korea: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 48: Australia: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 49: Australia: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 50: Indonesia: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 51: Indonesia: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 52: Others: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 53: Others: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 54: Europe: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 55: Europe: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 56: Germany: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 57: Germany: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 58: France: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 59: France: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 60: United Kingdom: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 61: United Kingdom: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 62: Italy: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 63: Italy: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 64: Spain: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 65: Spain: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 66: Russia: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 67: Russia: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 68: Others: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 69: Others: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 70: Latin America: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 71: Latin America: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 72: Brazil: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 73: Brazil: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 74: Mexico: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 75: Mexico: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 76: Others: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 77: Others: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 78: Middle East and Africa: Automotive Steering System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 79: Middle East and Africa: Automotive Steering System Market: Breakup by Country (in %), 2024
- Figure 80: Middle East and Africa: Automotive Steering System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 81: Global: Automotive Steering System Industry: SWOT Analysis
- Figure 82: Global: Automotive Steering System Industry: Value Chain Analysis
- Figure 83: Global: Automotive Steering System Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Automotive Steering System Market: Key Industry Highlights, 2024 and 2033
- Table 2: Global: Automotive Steering System Market Forecast: Breakup by Type (in Million USD), 2025-2033
- Table 3: Global: Automotive Steering System Market Forecast: Breakup by Component (in Million USD), 2025-2033
- Table 4: Global: Automotive Steering System Market Forecast: Breakup by Vehicle Type (in Million USD), 2025-2033
- Table 5: Global: Automotive Steering System Market Forecast: Breakup by Region (in Million USD), 2025-2033
- Table 6: Global: Automotive Steering System Market: Competitive Structure
- Table 7: Global: Automotive Steering System Market: Key Players
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