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Automotive Steering Market Size, Share & Trends Analysis By Components (Hydraulic Pump, Steering Column/Rack, Sensors, Electric Motor, Other), By Mechanism, By Vehicle Type, By Region, And Segment Forecasts, 2025 - 2033

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  • 150 Pages
  • July 2025
  • Region: Global
  • Grand View Research
  • ID: 6154709
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Description Jump to:
The global automotive steering market size was estimated at USD 28.08 billion in 2024 and is projected to reach USD 45.79 billion in 2033, growing at a CAGR of 5.9% from 2025 to 2033. The market is experiencing significant growth, driven primarily by technological advancements and shifting consumer preferences.

One of the most impactful developments is the widespread adoption of Electric Power Steering (EPS), which replaces traditional hydraulic systems due to its superior fuel efficiency, reduced emissions, and enhanced driving comfort.

In addition, the rise of autonomous and semi-autonomous vehicles is accelerating demand for advanced steering technologies such as steer-by-wire and adaptive steering systems, which integrate seamlessly with Advanced Driver Assistance Systems (ADAS). Innovations like AI-driven predictive steering and commercial vehicles enabled smart steering systems are further transforming the market, offering improved safety and responsiveness.

Rapid electric and hybrid vehicle production growth further accelerates the demand for advanced steering systems. Electric vehicles (EVs), due to their architecture and energy efficiency requirements, benefit significantly from EPS and steer-by-wire systems, which eliminate the need for engine-driven hydraulic pumps. Moreover, the push by governments across regions such as Europe, China, and the U.S. for cleaner mobility solutions is prompting OEMs to invest in lightweight, energy-saving steering technologies that complement the design and efficiency goals of EV platforms.

Furthermore, government regulations and consumer demand for safer vehicles influence the adoption of steering systems supporting enhanced safety functionalities. Regulatory bodies like the National Highway Traffic Safety Administration (NHTSA) and the European New Car Assessment Programme (Euro NCAP) are pushing for safer vehicle designs, which in turn are encouraging OEMs to integrate steering systems capable of supporting ADAS and emergency maneuverability features.

One of the primary restraints limiting the widespread adoption of advanced steering systems, particularly Electronic Power Steering (EPS) and steer-by-wire technologies, is their high cost and system complexity. Compared to traditional hydraulic steering systems, EPS involves intricate electronics, sensors, actuators, and software components, increasing production costs and vehicle pricing. This cost sensitivity is especially critical in price-conscious markets such as India, Southeast Asia, and parts of Latin America, where consumers often prioritize affordability over advanced features.

Global Automotive Steering Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2021 to 2033. For this study, the analyst has segmented the global automotive steering market based on component, mechanism, vehicle type, and region:

Component Outlook (Revenue, USD Million, 2021 - 2033)

  • Hydraulic Pump
  • Steering Column/Rack
  • Sensors
  • Electric Motor
  • Others

Mechanism Outlook (Revenue, USD Million, 2021 - 2033)

  • Electronic Power Steering (EPS)
  • Hydraulic Power Steering (HPS)
  • Electrically Assisted Hydraulic Power Steering

Vehicle Type Outlook (Revenue, USD Million, 2021 - 2033)

  • Passenger Cars
  • Commercial Vehicles

Regional Outlook (Revenue, USD Million, 2021 - 2033)

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • UK
  • France
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Latin America
  • Brazil
  • Middle East & Africa
  • KSA
  • UAE
  • South Africa

Why should you buy this report?

  • Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
  • Competitive Landscape: Explore the market presence of key players worldwide.
  • Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
  • Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.

This report addresses:

  • Market intelligence to enable effective decision-making
  • Market estimates and forecasts from 2018 to 2030
  • Growth opportunities and trend analyses
  • Segment and regional revenue forecasts for market assessment
  • Competition strategy and market share analysis
  • Product innovation listing for you to stay ahead of the curve
  • COVID-19's impact and how to sustain in these fast-evolving markets

This product will be delivered within 1-3 business days.

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Research Methodology
1.2.1. Information Procurement
1.3. Information or Data Analysis
1.4. Methodology
1.5. Research Scope and Assumptions
1.6. Market Formulation & Validation
1.7. Country Based Segment Share Calculation
1.8. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Automotive Steering Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.2. Market Dynamics
3.2.1. Market Drivers Analysis
3.2.2. Market Restraints Analysis
3.2.3. Industry Challenge
3.3. Automotive Steering Analysis Tools
3.3.1. Industry Analysis - Porter’s
3.3.1.1. Bargaining Power Of The Suppliers
3.3.1.2. Bargaining Power Of The Buyers
3.3.1.3. Threats Of Substitution
3.3.1.4. Threats From New Entrants
3.3.1.5. Competitive Rivalry
3.3.2. PESTEL Analysis
Chapter 4. Automotive Steering Market: Component Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Automotive Steering Market: Component Movement Analysis, 2024 & 2033 (USD Million)
4.3. Hydraulic Pump
4.3.1. Hydraulic Pump Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.4. Steering Column/Rack
4.4.1. Steering Column/Rack Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.5. Sensors
4.5.1. Sensors Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.6. Electric Motor
4.6.1. Electric Motos Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.7. Others
4.7.1. Others Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 5. Automotive Steering Market: Mechanism Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Automotive Steering Market: Mechanism Movement Analysis, 2024 & 2033 (USD Million)
5.3. Electronic Power Steering (EPS)
5.3.1. Electronic Power Steering (EPS) Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
5.4. Hydraulic Power Steering (HPS)
5.4.1. Hydraulic Power Steering (HPS) Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
5.5. Electrically Assisted Hydraulic Power Steering
5.5.1. Electrically Assisted Hydraulic Power Steering Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 6. Automotive Steering Market: Vehicle Type Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. Automotive Steering Market: Vehicle Type Movement Analysis, 2024 & 2033 (USD Million)
6.3. Passenger Cars
6.3.1. Passenger Cars Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
6.4. Commercial Vehicles
6.4.1. Commercial Vehicles Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 7. Automotive Steering Market Region Estimates & Trend Analysis
7.1. Automotive Steering Market Share, By Region, 2024 & 2033, USD Million
7.2. North America
7.2.1. North America Automotive Steering Market Estimates and Forecasts, 2021 - 2033 (USD Million)
7.2.2. U.S.
7.2.2.1. U.S. Automotive Steering Market Estimates and Forecasts, 2021 - 2033 (USD Million)
7.2.3. Canada
7.2.3.1. Canada Automotive Steering Market Estimates and Forecasts, 2021 - 2033 (USD Million)
7.2.4. Mexico
7.2.4.1. Mexico Automotive Steering Market Estimates and Forecasts, 2021 - 2033 (USD Million)
7.3. Europe
7.3.1. Europe Automotive Steering Market Estimates and Forecasts, 2021 - 2033 (USD Million)
7.3.2. UK
7.3.2.1. UK Automotive Steering Market Estimates and Forecasts, 2021 - 2033 (USD Million)
7.3.3. Germany
7.3.3.1. Germany Automotive Steering Market Estimates and Forecasts, 2021 - 2033 (USD Million)
7.3.4. France
7.3.4.1. France Automotive Steering Market Estimates and Forecasts, 2021 - 2033 (USD Million)
7.4. Asia Pacific
7.4.1. Asia Pacific Automotive Steering Market Estimates and Forecasts, 2021 - 2033 (USD Million)
7.4.2. China
7.4.2.1. China Automotive Steering Market Estimates and Forecasts, 2021 - 2033 (USD Million)
7.4.3. India
7.4.3.1. India Automotive Steering Market Estimates and Forecasts, 2021 - 2033 (USD Million)
7.4.4. Japan
7.4.4.1. Japan Automotive Steering Market Estimates and Forecasts, 2021 - 2033 (USD Million)
7.4.5. Australia
7.4.5.1. Australia Automotive Steering Market Estimates and Forecasts, 2021 - 2033 (USD Million)
7.4.6. South Korea
7.4.6.1. South Korea Automotive Steering Market Estimates and Forecasts, 2021 - 2033 (USD Million)
7.5. Latin America
7.5.1. Latin America Automotive Steering Market Estimates and Forecasts, 2021 - 2033 (USD Million)
7.5.2. Brazil
7.5.2.1. Brazil Automotive Steering Market Estimates and Forecasts, 2021 - 2033 (USD Million)
7.6. MEA
7.6.1. MEA Automotive Steering Market Estimates and Forecasts, 2021 - 2033 (USD Million)
7.6.2. UAE
7.6.2.1. UAE Automotive Steering Market Estimates and Forecasts, 2021 - 2033 (USD Million)
7.6.3. KSA
7.6.3.1. KSA Automotive Steering Market Estimates and Forecasts, 2021 - 2033 (USD Million)
7.6.4. South Africa
7.6.4.1. South Africa Automotive Steering Market Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 8. Competitive Landscape
8.1. Company Categorization
8.2. Company Market Positioning
8.3. Company Heat Map Analysis
8.4. Company Profiles/Listing
8.4.1. Showa Corporation
8.4.1.1. Participant’s Overview
8.4.1.2. Financial Performance
8.4.1.3. Vehicle Type Benchmarking
8.4.1.4. Strategic Initiatives
8.4.2. Nexteer Automotive Corporation
8.4.2.1. Participant’s Overview
8.4.2.2. Financial Performance
8.4.2.3. Vehicle Type Benchmarking
8.4.2.4. Strategic Initiatives
8.4.3. NSK Ltd
8.4.3.1. Participant’s Overview
8.4.3.2. Financial Performance
8.4.3.3. Vehicle Type Benchmarking
8.4.3.4. Strategic Initiatives
8.4.4. JTEKT Corporation
8.4.4.1. Participant’s Overview
8.4.4.2. Financial Performance
8.4.4.3. Vehicle Type Benchmarking
8.4.4.4. Strategic Initiatives
8.4.5. Robert Bosch GmbH
8.4.5.1. Participant’s Overview
8.4.5.2. Financial Performance
8.4.5.3. Vehicle Type Benchmarking
8.4.5.4. Strategic Initiatives
8.4.6. Hyundai Mobis CO., Ltd
8.4.6.1. Participant’s Overview
8.4.6.2. Financial Performance
8.4.6.3. Vehicle Type Benchmarking
8.4.6.4. Strategic Initiatives
8.4.7. Thyssenkrupp Presta
8.4.7.1. Participant’s Overview
8.4.7.2. Financial Performance
8.4.7.3. Vehicle Type Benchmarking
8.4.7.4. Strategic Initiatives
8.4.8. Mando Corporation
8.4.8.1. Participant’s Overview
8.4.8.2. Financial Performance
8.4.8.3. Vehicle Type Benchmarking
8.4.8.4. Strategic Initiatives
8.4.9. Sona Corporation
8.4.9.1. Participant’s Overview
8.4.9.2. Financial Performance
8.4.9.3. Vehicle Type Benchmarking
8.4.9.4. Strategic Initiatives
8.4.10. ZF Friedrichshafen AG
8.4.10.1. Participant’s Overview
8.4.10.2. Financial Performance
8.4.10.3. Vehicle Type Benchmarking
8.4.10.4. Strategic Initiatives
List of Tables
Table 1 Global Automotive Steering market, by region, 2021 - 2033 (USD Million)
Table 2 Global Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 3 Global Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 4 Global Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
Table 5 North America Automotive Steering market, by Country, 2021 - 2033 (USD Million)
Table 6 North America Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 7 North America Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 8 North America Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
Table 9 U.S. Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 10 U.S. Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 11 U.S. Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
Table 12 Canada Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 13 Canada Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 14 Canada Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
Table 15 Mexico Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 16 Mexico Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 17 Mexico Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
Table 18 Europe Automotive Steering market, by Country, 2021 - 2033 (USD Million)
Table 19 Europe Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 20 Europe Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 21 Europe Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
Table 22 UK Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 23 UK Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 24 UK Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
Table 25 Germany Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 26 Germany Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 27 Germany Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
Table 28 France Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 29 France Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 30 France Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
Table 31 Asia Pacific Automotive Steering market, by Country, 2021 - 2033 (USD Million)
Table 32 Asia Pacific Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 33 Asia Pacific Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 34 Asia Pacific Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
Table 35 China Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 36 China Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 37 China Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
Table 38 India Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 39 India Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 40 India Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
Table 41 Japan Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 42 Japan Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 43 Japan Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
Table 44 South Korea Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 45 South Korea Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 46 South Korea Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
Table 47 Australia Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 48 Australia Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 49 Australia Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
Table 50 Latin America Automotive Steering market, by Country, 2021 - 2033 (USD Million)
Table 51 Latin America Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 52 Latin America Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 53 Latin America Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
Table 54 Brazil Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 55 Brazil Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 56 Brazil Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
Table 57 MEA Automotive Steering market, by Country, 2021 - 2033 (USD Million)
Table 58 MEA Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 59 MEA Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 60 MEA Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
Table 61 UAE Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 62 UAE Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 63 UAE Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
Table 64 KSA Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 65 KSA Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 66 KSA Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
Table 67 South Africa Automotive Steering market, by Component, 2021 - 2033 (USD Million)
Table 68 South Africa Automotive Steering market, by Mechanism, 2021 - 2033 (USD Million)
Table 69 South Africa Automotive Steering market, by Vehicle Type, 2021 - 2033 (USD Million)
List of Figures
Fig. 1 Automotive Steering market segmentation
Fig. 2 Market research process
Fig. 3 Information procurement
Fig. 4 Primary research pattern
Fig. 5 Market research approaches
Fig. 6 Value chain-based sizing & forecasting
Fig. 7 Parent market analysis
Fig. 8 Market formulation & validation
Fig. 9 Automotive Steering market snapshot
Fig. 10 Automotive Steering market segment snapshot
Fig. 11 Automotive Steering market competitive landscape snapshot
Fig. 12 Market research process
Fig. 13 Market driver relevance analysis (Current & future impact)
Fig. 14 Market restraint relevance analysis (Current & future impact)
Fig. 15 Automotive Steering market: Component outlook key takeaways (USD Million)
Fig. 16 Automotive Steering market: Component movement analysis 2024 & 2033 (USD Million)
Fig. 17 Hydraulic Pump market revenue estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 18 Steering Column/Rack market revenue estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 19 Sensors market revenue estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 20 Electric Motor market revenue estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 21 Others market revenue estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 22 Automotive Steering market: Mechanism outlook key takeaways (USD Million)
Fig. 23 Automotive Steering market: Mechanism movement analysis 2024 & 2033 (USD Million)
Fig. 24 Electronic Power Steering (EPS) market revenue estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 25 Hydraulic Power Steering (HPS) market revenue estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 26 Electrically Assisted Hydraulic Power Steering market revenue estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 27 Automotive Steering market: Vehicle Type outlook key takeaways (USD Million)
Fig. 28 Automotive Steering market: Vehicle Type movement analysis 2024 & 2033 (USD Million)
Fig. 29 Passenger Cars market revenue estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 30 Commercial Vehicles market revenue estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 31 Regional marketplace: Key takeaways
Fig. 32 Automotive Steering market: Regional outlook, 2024 & 2033 (USD Million)
Fig. 33 North America Automotive Steering market estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 34 U.S. Automotive Steering market estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 35 Canada Automotive Steering market estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 36 Mexico Automotive Steering market estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 37 Europe Automotive Steering market estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 38 UK Automotive Steering market estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 39 Germany Automotive Steering market estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 40 France Automotive Steering market estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 41 Asia Pacific Automotive Steering market estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 42 China Automotive Steering market estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 43 India Automotive Steering market estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 44 Japan Automotive Steering market estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 45 South Korea Automotive Steering market estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 46 Australia Automotive Steering market estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 47 Latin America Automotive Steering market estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 48 Brazil Automotive Steering market estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 49 MEA Automotive Steering market estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 50 UAE Automotive Steering market estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 51 KSA Automotive Steering market estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 52 South Africa Automotive Steering market estimates and forecasts, 2021 - 2033 (USD Million)
Fig. 53 Strategy framework
Fig. 54 Company categorization

Companies Mentioned

  • ZF Friedrichshafen AG
  • Showa Corporation
  • Nexteer Automotive Corporation
  • NSK Ltd
  • JTEKT Corporation
  • Robert Bosch GmbH
  • Hyundai Mobis CO., Ltd
  • Thyssenkrupp Presta
  • Mando Corporation
  • Sona Corporation

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