Global Automotive Steering Systems Market Size, Market Share and Market Growth Analysis(2024-2031)

Around 75 million cars were sold globally in 2022. Germany, exported 15.1% of steering wheels, columns and boxes for motor vehicles worldwide while 20.1% of imports of steering wheels were by the U.S. The auto components industry depends on the local demand. Rising demand has led to increased imports for such components. Asia accounted for 65% of imports followed by Europe accounting to 26%.

Steering systems are the unsung heroes of the automotive world, providing drivers with control and maneuverability. As the automotive industry embraces technological advancements and shifts towards electric and autonomous vehicles, the steering systems market is undergoing significant transformation. In this report, we will delve into the dynamic automotive steering systems market, exploring its current state, key drivers, and the innovations steering the industry towards a new era of driving.

The Heart of Vehicle Control

Automotive steering systems are integral components that allow drivers to control the direction of their vehicles. While traditional mechanical systems remain in use, advancements in technology have given rise to electric power steering (EPS) and steer-by-wire systems, offering improved precision and efficiency.

Market Size and Overview

The global automotive steering systems market is experiencing steady growth, driven by factors such as rising vehicle production, increasing consumer demand for safety features, and a growing preference for electric power steering. As of the latest data, the market is valued at approximately $30 billion and is expected to continue growing in the coming years.

Key Components of Automotive Steering Systems

1. Steering Column: The steering column connects the steering wheel to the steering gear or rack-and-pinion mechanism. It is a critical structural component that transfers driver input to the wheels.

2. Steering Gear: This component converts the rotational motion from the steering column into linear motion that turns the vehicle’s wheels. Common types include rack-and-pinion and recirculating ball steering gears.

3. Power Assistance: Many modern vehicles are equipped with power assistance systems, including hydraulic power steering (HPS) and electric power steering (EPS). These systems make steering easier, especially at low speeds and during parking maneuvers.

4. Electronic Control Unit (ECU): The ECU plays a vital role in modern steering systems, controlling power assistance, steering feel, and providing feedback to the driver.

5. Sensors: Sensors, such as torque sensors, angle sensors, and speed sensors, monitor various parameters related to steering input and vehicle dynamics. They assist in the operation of power assistance systems and contribute to safety features like electronic stability control.

Applications and Benefits

Automotive steering systems have a broad range of applications and benefits:

1. Improved Handling and Control: Advanced steering systems provide precise control and enhance the vehicle’s handling characteristics, ensuring a safer and more enjoyable driving experience.

2. Safety Features: Steering systems play a crucial role in enabling safety features like lane-keeping assist, adaptive cruise control, and collision avoidance systems.

3. Efficiency: Electric power steering systems are more energy-efficient than traditional hydraulic systems, contributing to improved fuel economy in internal combustion engine vehicles.

4. Autonomous Driving: In autonomous vehicles, steer-by-wire technology allows for greater control and adaptability, as steering input can be adjusted to various driving modes.

5. Reduced Maintenance: Electric power steering systems have fewer mechanical components and require less maintenance compared to hydraulic systems.

Future Trends

The automotive steering systems market is poised for exciting developments:

1. Steer-by-Wire Technology: Steer-by-wire systems are expected to become more prevalent, enabling greater flexibility in vehicle design and enhancing the integration of autonomous driving features.

2. Electric and Autonomous Vehicles: The shift towards electric and autonomous vehicles will drive demand for advanced steering systems that can adapt to different driving modes and requirements.

3. Enhanced Connectivity: Steering systems will become increasingly connected, allowing for real-time data exchange with other vehicle systems and cloud-based services.

4. Sustainability: The industry is likely to see a focus on sustainability, with a move towards environmentally friendly materials and more efficient power assistance systems.

5. Haptic Feedback: Advanced haptic feedback systems will provide drivers with tactile information, enhancing the driving experience and safety.

Conclusion

The automotive steering systems market, valued at approximately $30 billion, is steering towards a future of innovation and integration with electric and autonomous technologies. These systems, often taken for granted, are at the forefront of automotive advancements, offering drivers enhanced control, safety, and efficiency. As the industry continues to evolve, steering systems will play a pivotal role in defining the future of mobility and reshaping the driving experience.

To read the full report or get a sample,  please click on download sample button above

TABLE OF CONTENTS:

1. Introduction
   • Market Overview
   • Scope Of Report
   • Market Segmentation and Assumptions
   • Research Methodology
   • Market Snapshot
2. Executive Summary
3. Industry Analysis and Key Insights
   • Mergers, Acquisitions and Partnerships
   • Latest Technological Developments
   • Latest Patents
   • Market Drivers
   • Market Growth and Opportunities
   • Porters Five Forces Analysis
4. Global Automotive Steering System Market Analysis and forecast 2019-2030
   • Market Analysis and Forecast by- Mode of Steering
     • Manual
     • Power
   • Market Analysis and Forecast by- Mechanism
     • Rack and Pinion
     • Recirculating ball bearing
   • Market Analysis and Forecast by- Type of Steering
     • Hydraulic Power Steering
     • Electric Power Hydraulic Steering
     • Fully Electric Power Steering
   • Market Analysis and Forecast by- Region
     • North America
     • Europe
     • Asia-Pacific
     • Rest of the World
5. North America Automotive Steering Systems Market Analysis and Forecast 2019-2030
   • Market Analysis and Forecast by- Mode of Steering
     • Manual
     • Power
   • Market Analysis and Forecast by- Mechanism
     • Rack and Pinion
     • Recirculating ball bearing
   • Market Analysis and Forecast by- Type of Steering
     • Hydraulic Power Steering
     • Electric Power Hydraulic Steering
     • Fully Electric Power Steering
   • Market Analysis and Forecast by- Country
     • U.S.
     • Canada
   • U.S. Automotive Steering Systems Market Analysis and Forecast 2019-2030
     • Market Analysis and Forecast by- Type of Steering
       • Hydraulic Power Steering
       • Electric Power Hydraulic Steering
       • Fully Electric Power Steering
   • Canada Automotive Steering Systems Market Analysis and Forecast 2019-2030
     • Market Analysis and Forecast by- Type of Steering
       • Hydraulic Power Steering
       • Electric Power Hydraulic Steering
       • Fully Electric Power Steering

5. Europe Automotive Steering Systems Market Analysis and Forecast 2019-2030
   • Market Analysis and Forecast by- Mode of Steering
     • Manual
     • Power
   • Market Analysis and Forecast by- Mechanism
     • Rack and Pinion
     • Recirculating ball bearing
   • Market Analysis and Forecast by- Type of Steering
     • Hydraulic Power Steering
     • Electric Power Hydraulic Steering
     • Fully Electric Power Steering
   • Market Analysis and Forecast by- Country
     • U.K
     • France
     • Germany
     • Italy
     • Spain
     • Rest of Europe
   • U.K Automotive Steering Systems Market Analysis and Forecast 2019-2030
     • Market Analysis and Forecast by- Type of Steering
       • Hydraulic Power Steering
       • Electric Power Hydraulic Steering
       • Fully Electric Power Steering
   • France Automotive Steering Systems Market Analysis and Forecast 2019-2030
     • Market Analysis and Forecast by- Type of Steering
       • Hydraulic Power Steering
       • Electric Power Hydraulic Steering
       • Fully Electric Power Steering
   • Germany Automotive Steering Systems Market Analysis and Forecast 2019-2030
     • Market Analysis and Forecast by- Type of Steering
       • Hydraulic Power Steering
       • Electric Power Hydraulic Steering
       • Fully Electric Power Steering
   • Italy Automotive Steering Systems Market Analysis and Forecast 2019-2030
     • Market Analysis and Forecast by- Type of Steering
       • Hydraulic Power Steering
       • Electric Power Hydraulic Steering
       • Fully Electric Power Steering
   • Spain Automotive Steering Systems Market Analysis and Forecast 2019-2030
     • Market Analysis and Forecast by- Type of Steering
       • Hydraulic Power Steering
       • Electric Power Hydraulic Steering
       • Fully Electric Power Steering
   • Rest of Europe Automotive Steering Systems Market Analysis and Forecast 2019-2030
     • Market Analysis and Forecast by- Type of Steering
       • Hydraulic Power Steering
       • Electric Power Hydraulic Steering
       • Fully Electric Power Steering

6. Asia Pacific Automotive Steering Systems Market Analysis and Forecast 2019-2030
   • Market Analysis and Forecast by- Mode of Steering
     • Manual
     • Power
   • Market Analysis and Forecast by- Mechanism
     • Rack and Pinion
     • Recirculating ball bearing
   • Market Analysis and Forecast by- Type of Steering
     • Hydraulic Power Steering
     • Electric Power Hydraulic Steering
     • Fully Electric Power Steering
   • Market Analysis and Forecast by- Country
     • China
     • India
     • Japan
     • Australia
     • Rest of Asia Pacific
   • China Automotive Steering Systems Market Analysis and Forecast 2019-2030
     • Market Analysis and Forecast by- Type of Steering
       • Hydraulic Power Steering
       • Electric Power Hydraulic Steering
       • Fully Electric Power Steering
   • India Automotive Steering Systems Market Analysis and Forecast 2019-2030
     • Market Analysis and Forecast by- Type of Steering
       • Hydraulic Power Steering
       • Electric Power Hydraulic Steering
       • Fully Electric Power Steering
   • Japan Automotive Steering Systems Market Analysis and Forecast 2019-2030
     • Market Analysis and Forecast by- Type of Steering
       • Hydraulic Power Steering
       • Electric Power Hydraulic Steering
       • Fully Electric Power Steering
   • Australia Automotive Steering Systems Market Analysis and Forecast 2019-2030
     • Market Analysis and Forecast by- Type of Steering
       • Hydraulic Power Steering
       • Electric Power Hydraulic Steering
       • Fully Electric Power Steering
   • Rest of Asia Pacific Automotive Steering Systems Market Analysis and Forecast 2019-2030
     • Market Analysis and Forecast by- Type of Steering
       • Hydraulic Power Steering
       • Electric Power Hydraulic Steering
       • Fully Electric Power Steering

7. Rest of the World Automotive Steering Systems Market Analysis and Forecast 2019-2030
   • Market Analysis and Forecast by- Mode of Steering
     • Manual
     • Power
   • Market Analysis and Forecast by- Mechanism
     • Rack and Pinion
     • Recirculating ball bearing
   • Market Analysis and Forecast by- Type of Steering
     • Hydraulic Power Steering
     • Electric Power Hydraulic Steering
     • Fully Electric Power Steering
   • Market Analysis and Forecast by- Country
     • Middle East and Africa
     • Latin America
   • Middle East and Africa Automotive Steering Systems Market Analysis and Forecast 2019-2030
     • Market Analysis and Forecast by- Type of Steering
       • Hydraulic Power Steering
       • Electric Power Hydraulic Steering
       • Fully Electric Power Steering
   • Latin America Automotive Steering Systems Market Analysis and Forecast 2019-2030
     • Market Analysis and Forecast by- Type of Steering
       • Hydraulic Power Steering
       • Electric Power Hydraulic Steering
       • Fully Electric Power Steering
8. Competitive Insights
   • • Global Market Share Analysis
     • Key Development Strategies
9. Company Profiles(As per Availability)
   • Based on requirement
     • Overview
     • Recent Developments
     • Financial snapshot
     • Swot Analysis