Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Automotive Steering System Market is expected to generate a revenue of USD 44.14 Billion by 2030, Globally, at 4.5% CAGR: Verified Market Research®

This image opens in the lightbox

News provided by

Verified Market Research

24 Jan, 2023, 15:00 GMT

Share this article

Share toX

Share this article

Share toX

JERSEY CITY, N.J., Jan. 24, 2023 /PRNewswire/ -- Verified Market Research® recently published a report, "Automotive Steering System Market" By Type (Electro-Hydraulic Power Steering, Electronic Power Steering), By Vehicle-Type (Commercial Vehicle, HCV, LCV), and By Geography.

As per the deep research carried out by Verified Market Research®, the global Automotive Steering System Market size was valued at USD 29.70 Billion in 2021 and is projected to reach USD 44.14 Billion by 2030, growing at a CAGR of 4.5% from 2023 to 2030.

Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample/?rid=32185

Browse in-depth TOC on "Automotive Steering System Market"

202 - Pages

126 – Tables

37 – Figures

Global Automotive Steering System Market Overview

A steering system for a vehicle is made up of a number of parts that work together to regulate the direction of the vehicle's motion and let the driver navigate the car as needed. The steering system of the automobile consists of the steering column, rack & pinion mechanism, universal joints, and hand-operated steering wheel. The improvement led to the switch from conventional to power assist steering for the steering system. The steering system in cars is a non-replaceable part that is essential for efficient vehicle handling, making it a key part.

All vehicles must have a steering system, thus there is a lot of competition in the market for these components. The steering system is composed of steering wheels, linkages, gears, and more parts that assist in controlling and directing the path of the vehicle's movements. They spin the front wheels of the vehicle in an angular direction by using the steering wheel to convert circular motion.

The expansion of the industry is primarily driven by an increase in demand for automobiles as a result of rising consumer disposable income. Furthermore, the growth of this market is due to the introduction of power steering systems in automobiles. Because every automotive steering system is a fundamental part of the whole product, an increase in automobile production is directly related to the demand for automotive steering systems by original equipment manufacturers. The expansion of the Automotive Steering System Market is likely to be aided by increased vehicle production in markets such as China, Japan, and India.

Furthermore, automobile manufacturers are preparing for long-term service contracts with OEM players, which are expected to boost the Automotive Steering System Market significantly throughout the forecast period. Consumer attraction towards electric vehicles has been noted in recent years as a result of continual technological improvements combined with increased awareness about environmental safety. Furthermore, various national and municipal governments are providing electric vehicle incentives, such as tax credits and subsidies. These reasons are driving up demand for electric vehicles, which means the Automotive Steering System Market has an amount of opportunity to develop.

Verified Market Research® narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The "Global Automotive Steering System Market" is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.

Key Players

The "Global Automotive Steering System Market" study report will provide valuable insight with an emphasis on the global market.  The major players in the market are Mando Corp., Nexteer Automotive, JTEKT Corp., Nexteer Automotive, NSK Ltd., Thyssenkrupp Presta AG, TRW Automotive, ZF Lenksysteme, Showa Corporation, Sona Koyo Steering Systems Ltd., and Hyundai Mobis Co. Ltd.

Based on the research, Verified Market Research® has segmented the global Automotive Steering System Market into Type, Vehicle-Type, and Geography.

  • Automotive Steering System Market, by Type
    • Electro-Hydraulic Power Steering
    • Electronic Power Steering
    • Hydraulic Power Steering
    • Manual Steering
  • Automotive Steering System Market, by Vehicle-Type
    • Commercial Vehicle
    • HCV
    • LCV
      • Passenger Vehicle
      • Compact
      • Mid-size
      • Premium
      • SUVs
  • Automotive Steering System Market, by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

Browse Related Reports:

Electric Power Steering Market By Type (R-EPS, P-EPS), By Component (Sensor, Steering Column), By Electronic Motor Type (Brushless DC Motors and Brushed DC Motors), By Mechanism (Rigid EPS, Collapsible EPS), By Vehicle Type (Commercial Vehicles, Passenger Cars), By Geography, And Forecast

Steering Columns System Market By Steering System (Hydraulic Power Steering System, Electric Power Steering System), By Automobile Type (Commercial Vehicles, Heavy-Duty Vehicles), By Geography, And Forecast

Anti-Jamming Market By Receiver Type (Commercial Transportation Grade and Military & Government Grade), By Anti-Jamming Technique (Beam Steering Technique, Civilian Techniques, and Nulling Technique), By Application (Flight Control, Surveillance & Reconnaissance, Position, Navigation & Timing, Targeting), By Geography, And Forecast

Outboard Steering Systems Market By Product (Electronic Power Steering, Hydraulic Steering, Mechanical Steering), By Application (Small Boat, Medium and Large Boat), By Geography, And Forecast

Best Automotive Steering Systems soldiered up for refining safety standards

Visualize Automotive Steering System Market using Verified Market Intelligence -:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling in this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue-impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research® is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research® provides advanced analytical research solutions while offering information-enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.

Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

We study 14+ categories from Semiconductors & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & Construction, Agriculture industry and Medical Devices from over 100 countries.

Contact Us

Mr. Edwyne Fernandes  
Verified Market Research® 
US: +1 (650)-781-4080
UK: +44 (753)-715-0008 
APAC: +61 (488)-85-9400 
US Toll Free: +1 (800)-782-1768 
Email: sales@verifiedmarketresearch.com
Web: https://www.verifiedmarketresearch.com/ 
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/1315349/Verified_Market_Research_Logo.jpg 

Modal title

Also from this source

Polyethylene Wax Market is expected to generate a revenue of USD 1.58 Billion by 2032, Globally, at 4% CAGR: Verified Market Research®

Polyethylene Wax Market is expected to generate a revenue of USD 1.58 Billion by 2032, Globally, at 4% CAGR: Verified Market Research®

The Global Polyethylene Wax Market Size is projected to grow at a CAGR of 4% from 2026 to 2032, according to a new report published by Verified...

CRISPR Market is expected to generate a revenue of USD 12.78 Billion by 2032, Globally, at 15.85% CAGR: Verified Market Research®

CRISPR Market is expected to generate a revenue of USD 12.78 Billion by 2032, Globally, at 15.85% CAGR: Verified Market Research®

The Global CRISPR Market Size is projected to grow at a CAGR of 15.85% from 2026 to 2032, according to a new report published by Verified Market...

More Releases From This Source

Explore

Transportation, Trucking & Railroad

Transportation, Trucking & Railroad

Automotive

Automotive

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.