Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market Report 2026

The motor vehicle electrical & electronic equipment, steering suspension, & interiors market size has grown strongly in recent years. It will grow from $545.99 billion in 2025 to $588.17 billion in 2026 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to vehicle comfort demand, growth of electronic systems, steering technology advancements, safety feature adoption, interior design evolution.

The motor vehicle electrical & electronic equipment, steering suspension, & interiors market size is expected to see strong growth in the next few years. It will grow to $822.74 billion in 2030 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to software defined vehicles, electrified steering systems, connected interior platforms, autonomous feature integration, premiumization trends. Major trends in the forecast period include growing integration of electronic control systems, rising demand for advanced vehicle interiors, expansion of adas and infotainment modules, increasing use of electronic steering systems, focus on ride comfort and handling.

Advances in technology are expected to continue driving growth in the market for motor vehicle electrical and electronic equipment, steering suspension, and interior components in the forecast period. The global transport manufacturing industry has seen significant technological innovations over the past decade, and this trend is set to accelerate. For instance, in April 2024, Li Auto Inc., a China-based motor vehicle manufacturer, launched the Li L6, a five-seat premium family SUV. It features a dual-motor all-wheel-drive system that delivers a maximum power of 300 kW (approximately 408 horsepower). The vehicle is equipped with a four-screen interaction system powered by the Qualcomm Snapdragon 8295P chip, offering a seamless infotainment experience. Additionally, the Li L6 Max includes dual Orin-X chips that provide 508 TOPS, enabling advanced pilot-assisted driving capabilities in urban environments.

The increasing adoption of electric and hybrid vehicles is expected to be a significant catalyst for the expansion of the motor vehicle electrical and electronic equipment, steering, suspension, and interior markets in the coming years. Electric vehicles (EVs) are powered by one or more electric motors, relying on either a collection system, external electricity sources, or batteries. Hybrid vehicles, on the other hand, combine different power sources, such as an internal combustion engine (ICE) and an electric motor. The shift towards electric and hybrid vehicles necessitates the integration of advanced electrical and electronic components, including batteries, electric power steering, and electronic control units (ECUs). Notably, in the second quarter of 2023, hybrid, plug-in hybrid, and battery-powered vehicles accounted for 16% of light-duty auto sales in the United States, as reported by the Energy Information Administration. This accelerating adoption of electric and hybrid vehicles serves as a driving force behind the growth of the motor vehicle electrical and electronic equipment, steering, suspension, and interior markets.

Leading companies in the motor vehicle electrical and electronic equipment, steering, suspension, and interior markets are concentrating on innovation to cater to evolving consumer needs. Rear-wheel steering systems have emerged as a key focus area for these companies. In August 2023, Schaeffler Group, a German company specializing in automotive steering and bearings, unveiled a Mechatronic rear-wheel steering system. This groundbreaking system, featuring a planetary roller gear, is the world's first of its kind and enhances agility on curves, inner-city adaptability, and lane-change stability for a renowned electric SUV produced by a leading vehicle manufacturer. Schaeffler's innovative technology provides steering capabilities to the back axle, significantly improving handling in city traffic and making parking easier.

Major companies operating in the motor vehicle electrical & electronic equipment, steering suspension, & interiors market report include SAIC Motor Corporation Limited, FCA Fiat Chrysler Automobiles, Hyundai Motor Company, Robert Bosch GmbH, Peugeot S.A., Denso Corporation, Continental Aktiengesellschaft, Magna International Inc., Faurecia S.E., Valeo S.A., Lear Corporation, Tenneco Inc., Aptiv plc, Nidec Corporation, BorgWarner Inc., Infineon Technologies AG, Adient plc, Mahle GmbH, Toyota Boshoku Corporation, Magneti Marelli S.p.A., Autoliv Inc., Omron Corporation, Mando Corporation, GKN Automotive Limited, Alpine Electronics Inc., Nexteer Automotive, Visteon Corporation, Calsonic Kansei Corporation, Panasonic Automotive Systems, HGM Automotive Electronics, Pioneer Corporation, Toyoda Gosei Co. Ltd., Yanfeng Automotive Interiors.

Asia-Pacific was the largest region in the motor vehicle electrical & electronic equipment, steering, suspension, & interiors market in 2025. North America was the second largest market in motor vehicle electrical & electronic equipment, steering, suspension, & interiors market. The regions covered in the motor vehicle electrical & electronic equipment, steering suspension, & interiors market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the motor vehicle electrical & electronic equipment, steering suspension, & interiors market report include China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The motor vehicle electrical & electronic equipment, steering suspension, & interiors market consist of sales of motor vehicles and internal combustion engines, motor vehicle steering mechanisms and suspension components, or motor vehicle seating, seats, seat frames, seat belts, and interior trimmings. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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