Steering Thermal Systems Market Report 2026

The steering thermal systems market size has grown steadily in recent years. It will grow from $3.61 billion in 2025 to $3.77 billion in 2026 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to growth of power steering system adoption, increasing vehicle production volumes, advancements in automotive thermal engineering, rising demand for driver comfort systems, availability of efficient cooling technologies.

The steering thermal systems market size is expected to see steady growth in the next few years. It will grow to $4.43 billion in 2030 at a compound annual growth rate (CAGR) of 4.1%. The growth in the forecast period can be attributed to increasing electrification of vehicle architectures, rising adoption of steer-by-wire systems, expansion of thermal management in evs, growing focus on component durability, increasing integration of smart thermal control solutions. Major trends in the forecast period include increasing integration of electric steering systems, rising use of advanced thermal management components, growing focus on energy efficiency improvement, expansion of electric compressor adoption, enhanced reliability of steering components.

The demand for luxurious vehicles is expected to drive the growth of the steering thermal systems market. Luxurious vehicles, known for superior comfort, advanced technology, and premium materials, require steering thermal systems to maintain optimal temperatures in steering components, preventing overheating and enhancing performance and reliability. For instance, in April 2023, Porsche AG, a Germany-based automobile manufacturer, delivered 80,767 cars in the first quarter, an 18% increase compared to the same period in 2022. Sales grew 14% in Europe (excluding Germany), 19% in Germany, 30% in North America, and 21% in China. Therefore, the rising demand for luxury vehicles is boosting the steering thermal systems market.

Leading companies in the steering thermal systems market are increasingly focusing on developing innovative solutions, such as proprietary thermal management systems, to gain a competitive advantage. A proprietary thermal management system is designed and implemented by companies to regulate temperatures across various components within specific applications or devices. For instance, ZF Group recently introduced its proprietary thermal management system for electric vehicles (EVs) in June 2023. This system has the potential to significantly extend EV range during winter conditions. It integrates advanced technologies such as an optimized electric drivetrain with components such as power electronics, motors, and reduction gearboxes based on 800-volt silicon carbide. Automakers have flexibility in integrating this thermal management system into their vehicles according to their specific needs and designs.

In April 2023, Lear Corporation, a US-based automotive technology company, acquired I.G. Bauerhin (IGB) for $150.44 million. This acquisition enriches Lear’s portfolio in thermal comfort systems by integrating efficient heating, ventilation, and active cooling, alongside lumbar support and massage features, while upholding high standards in seating craftsmanship. I.G. Bauerhin (IGB), headquartered in Germany, specializes in manufacturing automotive steering wheel heaters.

Major companies operating in the steering thermal systems market report include Robert Bosch GmbH, ZF Friedrichshafen AG, JTEKT Corporation, Nexteer Automotive, NSK Ltd., HL Mando Corporation, ThyssenKrupp Presta AG, Schaeffler AG, Dana Incorporated, Kongsberg Automotive Holding ASA, MAHLE GmbH, BorgWarner Inc., Boyd Corporation, Gentherm Inc., Johnson Electric Holdings Limited, HELLA GmbH & Co. KGaA, DENSO Corporation, Continental AG, TE Connectivity Ltd., Sensata Technologies Holding plc, Hitachi Astemo Ltd., Mitsubishi Electric Corporation, Valeo SA, Panasonic Automotive Systems, Aptiv PLC.

Asia-Pacific was the largest region in the steering thermal systems market in 2025. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the steering thermal systems market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the steering thermal systems market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The steering thermal systems market consists of revenues earned by entities by providing services such as design and engineering, simulation and modeling, installation and commissioning, and system integration. The market value includes the value of related goods sold by the service provider or included within the service offering. The steering thermal systems market also includes sales of electric water pump and electric motor. 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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