SkyQuest Technology Group recently introduced Automotive Steering System Market study with in-depth overview, describing about the Product/Industry Scope and elaborates market outlook and status (2025-2032). The automotive steering system market is primarily driven by the increase in demand for automobiles on a scale. Market companies are concentrating on raising the number of fuel-efficient cars being produced for easy mobility.
Automotive Steering System Market size was valued at USD 34.2 billion in 2023 and is poised to grow from USD 36.12 billion in 2024 to USD 55.85 billion by 2032, growing at a CAGR of 5.6% during the forecast period (2025-2032).
The expansion of businesses engaged in the worldwide automobile steering systems market has been fueled by this. A vehicle’s steering system is a crucial component because it provides the vehicle with direction, aids in avoiding obstructions, and facilitates turning. Due to the increasing demand for vehicles around the world, manufacturers in the automotive steering system market may have growth prospects in the years to come. It is anticipated that the integration of electric power steering systems in automobiles would expand as comfort driving vehicles gain popularity around the world. To increase sales, major players in the automotive steering system market are concentrating on enhancing and diversifying their product offerings.
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The 2025 Automotive Steering System Market report provides a comprehensive analysis of key industry players, market trends, pricing structures, and competitive dynamics, offering insights into the market landscape from 2025 to 2032. As a rapidly evolving sector, the Automotive Steering System Market drives economic growth, innovation, and technological advancements through the development, production, and distribution of products and services. This report highlights the market’s growth potential and its impact on industries, providing valuable insights for stakeholders, investors, and policymakers.
Detailed Segmentation and Classification of the report (Market Size and Forecast – 2032, Y-o-Y growth rate, and CAGR):
The Automotive Steering System Market can be segmented based on several factors, including product type, application, end-user, and distribution channel.
Automotive Steering System Market is segmented by Technology, Vehicle Type, Equipment Type, Component, Type, Electric Vehicle Type, Electric Motor Type, Mechanism, Pinion Type and region.
Based on Technology, the market is segmented into Hydraulic Power Steering (HPS), Electrically Assisted Hydraulic Power Steering (EHPS) and Electric Power Steering (EPS).
Based on Vehicle Type, the market is segmented into Passenger Cars, Light Commercial Vehicles (LCVS) and Heavy Commercial Vehicles (HCVS).
Based on Equipment Type, the market is segmented into Agricultural Tractors and Construction Equipment.
Based on Component, the market is segmented into Hydraulic Pumps, Steering Columns and Electric Motors.
Based on Type, the market is segmented into Column-EPS (C-EPS), Pinion-EPS (P-EPS) and Rack-EPS (R-EPS).
Based on Electric Vehicle Type, the market is segmented into Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV) and Fuel Cell Electric Vehicle (FCEV).
Based on Electric Motor Type, the market is segmented into Brushed DC Motor and Brushless DC Motor.
Based on Mechanism, the market is segmented into Collapsible EPS and Rigid EPS.
Based on Pinion Type, the market is segmented into Single Pinion and Dual Pinion.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Automotive Steering System Market – Regional Analysis:
The region having the largest market share was North America. North America has the largest market share in the automotive steering system market as a result of the significant presence of key industry players in the region. The automotive steering system market is expanding significantly due to North America’s robust economic growth.
North American enterprises can benefit from lucrative growth opportunities by focusing on expanding their market share through alliances, mergers, and acquisitions. The automotive steering system market in North America is being propelled by rising consumer spending power. A rise in vehicle production across all of North America is also having an impact on the automobile steering system market. The market is anticipated to expand in the Asia-Pacific during the forecasted period.
Top Market Players in Automotive Steering System Market are:
Robert Bosch GmbH (Germany)
JTEKT Corporation (Japan)
Nexteer Automotive Group Limited (United States)
NSK Ltd. (Japan)
ThyssenKrupp AG (Germany)
ZF Friedrichshafen AG (Germany)
China Automotive Systems Inc. (China)
Hyundai Mobis Co. Ltd. (South Korea)
Mando Corporation (South Korea)
Showa Corporation (Japan)
Federal-Mogul Corporation (United States)
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Automotive Steering System Market Recent Developments:
In January 2022, IMUZAK, a leading developer of molding technology-based products headquartered in Japan, unveiled a 3D floating display for automated vehicles at CES 2022. It can project visual driver notifications from behind the steering wheel. The novel technology utilizes a proprietary microlens system for producing free-standing notifications that notify drivers of several highway features, key distances, and oncoming challenges.
In October 2021, Nexteer Automotive, an automotive parts supplier based in the U.S., launched its latest Modular Column-Assist EPS System (mCEPS) to broaden its Electric Power Steering (EPS) portfolio. The company aims to make drivers feel more connected to the road by introducing high-performance, custom-developed rotation and torque angle sensors for providing an accurate and smooth steering feel.
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Forward-Looking Insights
The Automotive Steering System Market is set to experience sustained growth, fueled by technological advancements, broader market access, and rising industry demand. With the industry addressing emerging challenges and capitalizing on new opportunities, it is expected to drive innovation and play a pivotal role in advancing health and economic progress.
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