Steer-by-Wire Market Grows as Automakers Embrace Digital Steering for EVs and Smart Mobility | Valuates Reports
BANGALORE, India, June 13, 2025 /PRNewswire/ -- Steer By Wire Market is Segmented by Type (EPS, SBW), by Application (Commercial Vehicle, Passenger Car): Global Opportunity Analysis and Industry Forecast, 2024-2031.
The global market for Steer By Wire was valued at USD 3704 Million in the year 2024 and is projected to reach a revised size of USD 7953 Million by 2031, growing at a CAGR of 11.7% during the forecast period.
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Major Factors Driving the Growth of Steer By Wire Market:
The global steer-by-wire market is experiencing dynamic growth fueled by the convergence of EV adoption, autonomous vehicle development, and evolving consumer expectations. As automotive ecosystems become more digital and software-driven, SBW systems are emerging as a foundational component for future mobility. Industry players are increasing investments in R&D, product testing, and regulatory compliance to accelerate deployment. Partnerships between traditional automakers and tech firms are also shaping the landscape. Despite challenges like high initial cost and technical complexity, the market is projected to grow steadily, driven by innovation, regulation, and the push toward sustainable transportation solutions.
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TRENDS INFLUENCING THE GROWTH OF THE STEER BY WIRE MARKET
Steer-by-Wire (SBW) systems are significantly propelling the growth of the Steer By Wire market due to their mechanical-free steering mechanism, which replaces traditional linkages with electronic controls. This transition allows for enhanced vehicle control, flexibility in vehicle design, and improved cabin ergonomics. SBW technology also supports better integration with autonomous driving systems, providing more precise steering inputs and adaptability to changing road conditions. By eliminating the need for steering columns and hydraulic components, it reduces weight and enhances fuel efficiency, especially in electric vehicles. As regulatory and industry trends move toward advanced driver-assistance systems (ADAS), SBW systems provide a foundational component, boosting their adoption across both passenger and commercial vehicles globally.
Electric Power Steering (EPS) systems are enhancing the development of the Steer By Wire market by serving as a technological bridge between traditional hydraulic systems and advanced electronic steering solutions. EPS eliminates the need for engine-driven hydraulic pumps, improving energy efficiency and enabling easier integration with other electronic vehicle systems. As automotive manufacturers seek solutions that support sustainability and reduce emissions, EPS offers a scalable path toward full steer-by-wire configurations. Additionally, EPS systems enhance steering response and driver comfort, which is crucial in both passenger and commercial vehicles. The system's compatibility with sensors and electronic control units also strengthens the viability of autonomous driving features, increasing the market demand for steer-by-wire platforms.
Commercial vehicles are increasingly adopting steer-by-wire technologies due to the need for greater safety, operational efficiency, and reduced mechanical complexity. These vehicles benefit from the weight reduction and lower maintenance requirements associated with electronic steering systems. SBW systems improve vehicle maneuverability, which is vital for large trucks and buses navigating tight urban environments or loading docks. Furthermore, the integration of SBW systems enables fleet operators to collect real-time data, aiding in vehicle diagnostics and predictive maintenance. With the growing demand for autonomous logistics and delivery vehicles, commercial vehicle manufacturers are incorporating SBW to meet evolving industry standards. This trend is substantially boosting the overall demand for steer-by-wire systems in the global market.
The global push toward vehicle electrification is significantly boosting the steer-by-wire market. As automakers strive to reduce carbon emissions, electric vehicles (EVs) are becoming a central focus. Steer-by-wire systems align perfectly with EV architecture by offering a lighter, more efficient alternative to hydraulic steering. Their compatibility with battery-electric platforms reduces energy consumption and enhances range, which is critical for EV adoption. Additionally, the lack of traditional components allows for better packaging flexibility, helping designers innovate freely. Automakers are investing heavily in EV development, and integrating SBW systems helps differentiate products in a competitive market, further supporting the segment's expansion.
The evolution of autonomous driving technologies is directly influencing the growth of the steer-by-wire market. SBW plays a crucial role in enabling precise and adaptive control, which is essential for Level 3 and above autonomous vehicles. By removing mechanical connections, steer-by-wire facilitates redundant safety systems and rapid adjustments, improving vehicle responsiveness. It also enables remote steering capabilities, allowing for innovative mobility solutions like remote valet parking and fleet management. As automotive OEMs and tech companies intensify their focus on autonomy, the integration of steer-by-wire systems becomes necessary, making this a key growth driver in the market.
Safety and system redundancy are key advantages that steer-by-wire systems offer, making them an attractive choice for modern vehicle manufacturers. Unlike mechanical systems that rely on a single connection, SBW allows for multiple fail-safe protocols via software and backup power sources. This enhances driver and passenger safety, especially in emergency scenarios. Furthermore, SBW systems can integrate with sensors to enable features like lane-keeping assistance and automatic lane centering. These enhanced safety features are becoming critical purchasing factors for consumers and regulatory bodies, leading to increased investments in steer-by-wire integration across vehicle models.
Stringent fuel economy regulations across the globe are encouraging automakers to reduce vehicle weight and enhance energy efficiency. Steer-by-wire systems eliminate heavy hydraulic components and steering shafts, contributing to overall vehicle light-weighting. This not only helps manufacturers meet regulatory standards but also increases vehicle performance and reduces fuel consumption. The cumulative effect of regulatory compliance and performance optimization is prompting rapid adoption of SBW systems, especially in markets with aggressive emissions mandates like Europe, the U.S., and parts of Asia.
While the initial setup of steer-by-wire systems may be costlier than traditional setups, the long-term benefits far outweigh the investment. SBW systems reduce maintenance costs by removing hydraulic fluids, belts, and pumps that commonly fail in traditional systems. Over time, this leads to lower total cost of ownership (TCO), especially for commercial fleets. Fleet operators are increasingly looking at life-cycle costs when choosing vehicle platforms, and SBW offers a compelling case for inclusion due to its durability and lower failure rates. This economic factor is significantly influencing market growth.
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INSECT CELL CULTURE MARKET SHARE ANALYSIS
North America is seeing robust growth due to investments in autonomous driving technologies and premium EVs. Europe follows closely, driven by stringent emission regulations and strong automotive R&D infrastructure.
The Asia-Pacific region, particularly China, Japan, and South Korea, is emerging as the fastest-growing segment, supported by EV subsidies and large-scale vehicle production.
Key Players:
- Bosch
- Continental AG
- Schaeffler
- Bethel
- Mando
- NSK
- ADVICS
- Shanghai Nasen Automotive Electronics
- Ningbo Tuopu Group
- Global Technology
- Zhejiang Vie Science and Technology
- Beijing Trinova Technology
- Tongyu Automotive
- Great Wall Motor
- Huayu Automotive Systems Company
- JTEKT
- ZF
- Nexteer
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
- The global market for Redundant Steer-by-wire Systems was valued at USD 375 Million in the year 2024 and is projected to reach a revised size of USD 1036 Million by 2031, growing at a CAGR of 14.9% during the forecast period.
- The global market for Electronically Controlled Redundant Steer-by-Wire System was valued at USD 205 Million in the year 2024 and is projected to reach a revised size of USD 467 Million by 2031, growing at a CAGR of 12.5% during the forecast period.
- The global market for Automotive Intelligent Steering System was valued at USD 40170 Million in the year 2024 and is projected to reach a revised size of USD 46420 Million by 2031, growing at a CAGR of 2.1% during the forecast period.
- The global Automotive Shift-by-Wire System market was valued at USD 534 Million in 2023 and is anticipated to reach USD 704.7 Million by 2030, witnessing a CAGR of 4.1% during the forecast period 2024-2030.
- The global market for Electro-Hydraulic Brake-by-wire System was valued at USD 3663 Million in the year 2023 and is projected to reach a revised size of USD 28250 Million by 2030, growing at a CAGR of 33.7% during the forecast period.
- Wire-Controlled Brake Systems (WCBS) Market
- The global market for Electro-Mechanical Brake (EMB) System was valued at USD 1 Million in the year 2024 and is projected to reach a revised size of USD 6412 Million by 2031, growing at a CAGR of 255.1% during the forecast period.
- The global market for Integrated Electro-Hydraulic Braking System was valued at USD 3341 Million in the year 2024 and is projected to reach a revised size of USD 6331 Million by 2031, growing at a CAGR of 9.7% during the forecast period.
- The global market for Fully Redundant Drive-By-Wire Chassis was valued at USD 351 Million in the year 2024 and is projected to reach a revised size of USD 732 Million by 2031, growing at a CAGR of 11.3% during the forecast period.
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