Light Vehicle Steering Market - Global Forecast 2025-2032

The light vehicle steering market is poised for continued advancement, shaped by new technologies, evolving supply chain strategies, and expanding applications across all major regions. Senior automotive leaders need actionable intelligence to navigate complex regulatory frameworks and capitalize on changing OEM and aftermarket demand.

Market Snapshot: Light Vehicle Steering Market Growth and Outlook

In 2024, the global light vehicle steering market reached USD 12.77 billion. Projections show robust expansion to USD 13.72 billion in 2025 and USD 22.78 billion by 2032, representing a compound annual growth rate (CAGR) of 7.49%. This sustained momentum underscores the market’s responsiveness to regulatory pressure, consumer expectations for advanced driver assistance, and technology migration toward electric platforms. Key contributing factors include heightened OEM investment in steering innovation, as well as increasing demand for replacement and upgrade parts in mature and emerging automotive markets.

Scope & Segmentation: Light Vehicle Steering System

This report delivers a comprehensive segmentation of the light vehicle steering sector, detailing technology adoption and regional trends:

• Steering System: Electric Power Steering (including Column and Rack Electric), Hydraulic Power Steering (Rack and Recirculating Ball types), Manual Steering.
• Mechanism: Rack and Pinion, Recirculating Ball mechanisms.
• Vehicle Type: Passenger Cars, Light Commercial Vehicles.
• Application: Original Equipment, Aftermarket (Accessories and Replacement Parts).
• Sales Channel: Independent Workshops, OEMs, Online Retailers.
• Regional Coverage: Americas (including North America, Latin America, and key countries); Europe, Middle East & Africa (covering major European, Middle Eastern, and African markets); Asia-Pacific (including leading and emerging nations in East, South, and Southeast Asia and Oceania).
• Leading Companies: Valeo SA, ZF Friedrichshafen AG, JTEKT Corporation, Nexteer Automotive Corporation, NSK Ltd, Mando Corporation, Robert Bosch GmbH, Hyundai Mobis Co., Ltd, Denso Corporation, Moog Inc.

Key Takeaways: Strategic Insights for Decision-Makers

• Accelerating transition from traditional hydraulic and manual systems to electric power steering enables advanced driver assistance features and digital integration.
• Stringent safety and emissions regulations drive technology upgrades and collaboration among OEMs and technology providers.
• Diversification of supply chains and localization of component production are critical in mitigating cost impacts of tariffs and regional policy shifts.
• The adoption of steer-by-wire and modular steering architectures is advancing beyond pilot stages, shaping future-ready platforms.
• Aftermarket growth is propelled by increased vehicle parc, with digital sales channels and predictive maintenance emerging as key commercial levers.

Tariff Impact: Navigating 2025 US Policy Adjustments

The introduction of new US tariffs in early 2025 has notably reshaped sourcing and procurement models for steering systems and components. Manufacturers now face higher input costs and are actively diversifying supplier networks into Southeast Asia and Mexico. Tier-one suppliers also strengthen in-country production and standardize components to offset duties, while OEMs and procurement leaders pursue dynamic strategies to minimize risk and optimize inventory under evolving trade agreements.

Methodology & Data Sources

The research combines in-depth interviews with engineering and procurement leaders, targeted industry surveys, and analysis of regulatory documentation. Further validation is achieved through review of annual reports, technical papers, trade data, and scenario-based modeling, ensuring actionable and reliable intelligence for market participants.

Why This Report Matters

• Enables leadership teams to align investment and R&D direction with fast-moving regulatory and technology trends.
• Supports procurement and operation heads with insight into tariff impacts and sourcing strategies for resilient supply chains.
• Guides commercial teams in identifying growth opportunities across regional aftermarket and digital channels.

Conclusion

This report provides senior leaders with a structured, data-driven understanding of the light vehicle steering landscape. With actionable segmentation, regulatory clarity, and coverage of leading players and emerging technologies, decision-makers can confidently navigate the next phase of industry transformation.

Additional Product Information:

• Purchase of this report includes 1 year online access with quarterly updates.
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