Global Automotive Steering System
Market Report
2025
The Global Automotive Steering System market size will grow at a CAGR of 10.5% from 2023 to 2030.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, The Global Automotive Intelligent Steering System market size will grow at a CAGR of 10.5% from 2023 to 2030.
2024 | 2025 | 2032 | 2033 | CAGR | |
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Global Automotive Steering System Market Sales Revenue | 121212 | 121212 | 121212 | 121212 | 10.5% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Type |
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Market Split by Vehicle Type |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Automotive Steering System Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The Automotive Intelligent Steering System Market is experiencing rapid growth due to increasing demand for advanced driver assistance systems (ADAS) and autonomous vehicles. These systems enhance vehicle safety, improve driving experience, and enable features like lane-keeping assist and automated parking. Technological advancements, safety regulations, and consumer preference for innovative automotive technologies drive the market's expansion.
(Source: press.zf.com/press/en/releases/release_54018.html)
System Market is propelled by the escalating adoption of sensors in the automotive industry. Sensors are pivotal in these advanced steering systems, enabling real-time data collection and analysis. With the integration of sensors, these systems can enhance safety, optimize vehicle performance, and enable advanced driver assistance features.
(Source: press.zf.com/press/en/releases/release_20547.html)
The growing demand for vehicles equipped with smart technologies that enhance driving experience and safety drives the increased incorporation of sensors into automotive intelligent steering systems, fueling market growth.
Cybersecurity concerns in connected cars pose significant challenges to the Automotive Intelligent Steering System Market. As vehicles become more interconnected and reliant on software-driven systems, the risk of cyberattacks targeting critical components, including steering systems, increases. Ensuring the security of these systems is crucial to maintaining driver and passenger safety. The potential vulnerabilities and the need for robust cybersecurity measures are causing hesitation among consumers and regulatory bodies, slowing down the widespread adoption of intelligent steering systems in the automotive industry. Manufacturers must address these concerns to drive market growth.
The COVID-19 pandemic had notable effects on the Automotive Intelligent Steering System Market. Initially, production interruptions and supply chain disruptions caused a slowdown as automotive manufacturing faced challenges. Reduced consumer spending on vehicles also contributed to a decline. However, as the situation improved, the market began to recover due to the growing emphasis on advanced driver assistance systems and safety features. The pandemic accelerated the adoption of intelligent steering systems as manufacturers aimed to enhance vehicle safety and driving experience.
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The rise of automated driving technologies drives the demand for intelligent steering systems that seamlessly integrate with autonomous driving functions, enabling safe and reliable control. Stringent safety regulations and consumer demand for enhanced safety features propel the adoption of intelligent steering systems with advanced driver assistance capabilities. Offering customizable steering characteristics allows companies to appeal to a wider range of customers and vehicle segments, enhancing their market share. EPS systems are becoming more widespread due to their energy efficiency and adaptability. These systems offer variable steering assistance based on vehicle speed, driving conditions, and input.
(Source:www.melexis.com/en/news/2022/8dec2022-melexis-releases-the-magnetic-position-sensor-of-the-future)
(Source:www.marklines.com/en/news/279579)
Top Companies Market Share in Automotive Steering System Industry: (In no particular order of Rank)
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According to Cognitive Market Research, Asia Pacific dominated the market in 2022 and accounted for a share of more than 41% of the global revenue due to several variables. Due to several key factors, Asia Pacific has emerged as the dominant player in the Automotive Intelligent Steering System Market. The region's strong position can be attributed to its robust automotive industry, rapid economic growth, increasing urbanization, and rising consumer purchasing power. Countries like China, Japan, and South Korea have been at the forefront of technological advancements and automotive innovation. Furthermore, Asia Pacific has witnessed significant government initiatives promoting electric vehicles and autonomous driving technologies. These initiatives have spurred the demand for intelligent steering systems integral to these advancements. The region's large population and expanding middle class have led to a growing demand for vehicles equipped with advanced safety and convenience features, driving the adoption of intelligent steering systems.
North America is experiencing rapid growth in the Automotive Intelligent Steering System Market due to several factors. The region has a strong automotive industry, technological expertise, and high demand for advanced driver assistance systems. Stringent safety regulations and consumer preference for innovative features drive intelligent steering systems adoption. Moreover, major automakers, tech companies, and research institutions focused on autonomous driving technologies are accelerating the development and deployment of these systems, making North America the fastest-growing region in the market.
The current report Scope analyzes Automotive Steering System Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Automotive Steering System Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Automotive Steering System Industry growth. Automotive Steering System market has been segmented with the help of its Type, Vehicle Type , and others. Automotive Steering System market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Electric Power Steering (EPS) has secured the largest market share in the Automotive Intelligent Steering System Market due to its numerous advantages. EPS offers improved fuel efficiency, reduced energy consumption, and enhanced vehicle handling. Its compatibility with electric and hybrid vehicles aligns with the industry's push for sustainability. Additionally, EPS systems can be integrated with advanced driver assistance features, bolstering their popularity. The seamless integration of EPS into modern vehicles, combined with its efficiency and versatility, has propelled it to dominate the market.
Hydraulic Power Steering (HPS) has secured the second-largest share in the Automotive Intelligent Steering System Market due to its proven performance and widespread use. HPS systems provide robust steering assistance across various vehicle segments, including commercial and heavy-duty vehicles. Despite the growth of Electric Power Steering (EPS), HPS remains popular due to its reliability and durability, especially in demanding conditions. Retrofitting HPS in existing vehicles and its cost-effectiveness compared to EPS also contribute to its significant market share.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Automotive Steering System Industry. Request a Free Sample PDF!
For several reasons, passenger cars have claimed the largest market share in the Automotive Intelligent Steering System Market. The rising consumer demand for enhanced driving comfort, safety features, and advanced driver assistance systems has propelled the adoption of intelligent steering systems in passenger vehicles. Additionally, technological advancements have made these systems more affordable and accessible to a broader range of consumers. As automakers focus on incorporating smart technologies to differentiate their products, passenger cars have emerged as the primary sector driving the market's growth.
Light Commercial Vehicles (LCVs) have secured the second-largest share in the Automotive Intelligent Steering System Market due to their widespread use in various industries. LCVs are commonly employed for delivery, transportation, and urban mobility, making advanced steering systems crucial for maneuverability and efficiency. The integration of intelligent steering enhances safety and productivity for commercial purposes. As businesses seek to optimize their fleets, LCVs equipped with intelligent steering systems offer an attractive solution, contributing to their substantial market presence.
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Research Analyst at Cognitive Market Research
I am a research analyst working in the Transport & Logistics domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
Sneha Mali is a research analyst working in various domains including the Consumer Goods, market research and transport & logistics and her primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. Her knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively.Sneha stay up-to-date with the latest research trends, methodologies, and technologies to ensure that her research is accurate, relevant, and impactful.
In her current role, Sneha is committed to continuous learning and staying abreast of emerging trends in research methodologies. Regular participation in workshops, webinars, and industry conferences ensures that her skills remain sharp and relevant. She have demonstrated ability to transform complex data sets into clear and concise narratives that inform key business strategies. Collaborating with cross-functional teams.Sneha remains an invaluable asset in the dynamic landscape of market research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Automotive Steering System Market is witnessing significant growth in the near future.
In 2023, the Electric Power Steering (EPS) segment accounted for noticeable share of global Automotive Steering System Market and is projected to experience significant growth in the near future.
The Passenger Car segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies ZF Friedrichshafen AG , JTEKT Corporation and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Electric Power Steering (EPS), Hydraulic Power Steering (HPS), Electro-Hydraulic Power Steering (EHPS), Manual Steering |
Vehicle Type | Passenger Car, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV) |
List of Competitors | ZF Friedrichshafen AG, Robert Bosch GmbH, JTEKT Corporation, Nexteer Automotive Group Ltd., Thyssenkrupp AG, NSK Ltd., Mitsubishi Electric Corporation, Mando Corporation, China Automotive Systems Inc., Hitachi Automotive Systems Ltd., Hyundai Mobis Co., Ltd., Zhejiang Shibao Company Limited, China South Industries Group Corporation (CSGC), GKN Automotive Limited, Showa Corporation, Hyundai-WIA Corporation, Danfoss Power Solutions, Sona Koyo Steering Systems Ltd., ATS Automation Tooling Systems Inc., CAAS Automotive Systems (Beijing) Co., Ltd. |
This chapter will help you gain GLOBAL Market Analysis of Automotive Steering System. Further deep in this chapter, you will be able to review Global Automotive Steering System Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Automotive Steering System. Further deep in this chapter, you will be able to review North America Automotive Steering System Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Automotive Steering System. Further deep in this chapter, you will be able to review Europe Automotive Steering System Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Automotive Steering System. Further deep in this chapter, you will be able to review Asia Pacific Automotive Steering System Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Automotive Steering System. Further deep in this chapter, you will be able to review South America Automotive Steering System Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of Automotive Steering System. Further deep in this chapter, you will be able to review Middle East Automotive Steering System Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of Automotive Steering System. Further deep in this chapter, you will be able to review Middle East Automotive Steering System Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of Automotive Steering System. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Vehicle Type Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Automotive Steering System market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 13 Research Methodology and Sources
Why Electric Power Steering (EPS) have a significant impact on Automotive Steering System market? |
What are the key factors affecting the Electric Power Steering (EPS) and Hydraulic Power Steering (HPS) of Automotive Steering System Market? |
What is the CAGR/Growth Rate of Passenger Car during the forecast period? |
By type, which segment accounted for largest share of the global Automotive Steering System Market? |
Which region is expected to dominate the global Automotive Steering System Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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