Motor Vehicle Steering and Suspension Components Market Report 2026

The motor vehicle steering and suspension components market size has grown strongly in recent years. It will grow from $106.82 billion in 2025 to $114.27 billion in 2026 at a compound annual growth rate (CAGR) of 7%. The growth in the historic period can be attributed to vehicle safety requirements, growth of passenger vehicles, suspension durability needs, handling performance demand, aftermarket repair cycles.

The motor vehicle steering and suspension components market size is expected to see strong growth in the next few years. It will grow to $155.41 billion in 2030 at a compound annual growth rate (CAGR) of 8%. The growth in the forecast period can be attributed to electric vehicle architecture changes, autonomous driving requirements, comfort optimization demand, advanced materials adoption, commercial vehicle growth. Major trends in the forecast period include increasing adoption of electric power steering, growing demand for advanced suspension systems, integration of lightweight steering components, rising focus on ride comfort and handling, expansion of aftermarket suspension upgrades.

Anticipated growth in the automotive industry is set to drive the expansion of the motor vehicle steering system and suspension components market. The automotive industry, encompassing the design, development, manufacturing, marketing, and sales of motor vehicles, relies heavily on essential components such as steering and suspension systems for optimal vehicle functionality and safety. Recent technological advancements, such as those in electric vehicles, autonomous driving, and digital sales channels, are reshaping the industry's landscape. A July 2023 article from Economic Times highlights significant progress in these areas, emphasizing safety measures and projecting the electric vehicle market in India to reach a potential worth of $206 billion by 2030. Consequently, the growth of the automotive industry is instrumental in propelling the motor vehicle steering and suspension components market forward.

Major players in the motor vehicle steering and suspension components market are strategically introducing groundbreaking steering and suspension components, such as the Adaptive Air Suspension System and Active Rear Steering system, to establish a competitive advantage. The Adaptive Air Suspension System, featured in the Cadillac CELESTIQ model by General Motors, replaces traditional coiled springs with an air suspension system, delivering a softer and more isolated ride, thereby enhancing overall ride quality. Simultaneously, the Active Rear Steering system in the CELESTIQ model offers a maximum of 3.5 degrees of out-of-phase rear steering. This means that the rear wheels turn in the opposite direction of the front wheels at low speeds, improving maneuverability. At higher speeds, the rear wheels align in-phase with the front wheels, contributing to stability and control. The launch of these advanced systems in October 2023 demonstrates General Motors' commitment to innovation and staying at the forefront of technological advancements in the motor vehicle steering and suspension components market.

In April 2023, Lear Corporation, a prominent US-based global automotive technology leader specializing in Seating and E-Systems, successfully completed the acquisition of I.G. Bauerhin (IGB) for an undisclosed sum. This strategic move is designed to augment Lear Corporation's portfolio of in-vehicle comfort technologies, which encompasses vehicle steering and suspension components, as well as other essential elements across various vehicle types. I.G. Bauerhin (IGB), a Poland-based manufacturer and supplier, contributes expertise in components and materials for vehicle interiors, including steering wheel heaters and sensors, seat heaters, electronic modules, and various other components.

Major companies operating in the motor vehicle steering and suspension components market report include Hyundai Motor Company, Robert Bosch GmbH, Denso Corporation, ZF Friedrichshafen AG, Continental Automotive Systems Corporation, Thyssen Krupp AG, Magna International Inc., Aisin Group, Tenneco Inc., BENTELER International AG, Knorr-Bremse AG, Nsk Steering Systems America Inc., Hella KGaA Hueck & Co., Nexteer Automotive Group Ltd., Fox Factory Holding Corp., KYB Americas Corporation, YAMADA North America Inc., Asama Coldwater Manufacturing, Global Steering Systems LLC, Maval Industries LLC, San-Ei Seiko America Inc., Showa Corporation, Atsco Remanufacturing Inc.

Asia-Pacific was the largest region in the motor vehicle steering and suspension component market in 2025. Western Europe was the second largest market in global motor vehicle steering and suspension component market share. The regions covered in the motor vehicle steering and suspension components 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 steering and suspension components market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The motor vehicle steering, and suspension components market consist of sales of steering systems, wheels and tires, springs, shock absorbers and struts, linkages, bushings, bearings, and joints. 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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