As per MRFR analysis, the US Automotive Steering Systems Market Size was estimated at 3.43 (USD Billion) in 2023. The US Automotive Steering Systems Market Industry is expected to grow from 3.6(USD Billion) in 2024 to 6 (USD Billion) by 2035. The US Automotive Steering Systems Market CAGR (growth rate) is expected to be around 4.753% during the forecast period (2025 - 2035).
Key US Automotive Steering Systems Market Trends Highlighted
The US Automotive Steering Systems Market is experiencing notable trends driven by evolving consumer preferences and technological advancements. One of the key market drivers is the increasing emphasis on vehicle safety and ease of handling. Manufacturers are incorporating advanced steering technologies, such as electric power steering and steer-by-wire systems, to enhance vehicle dynamics and improve energy efficiency. Additionally, stringent government regulations regarding fuel efficiency and emissions are pushing manufacturers to adopt smarter and lighter steering systems, aligning with eco-friendly initiatives. Opportunities to be explored include the growing popularity of electric vehicles (EVs) in the US, which necessitates innovative steering solutions that cater to the unique requirements of these vehicles.
As EV adoption rises, companies have the chance to develop integrated steering systems that enhance driving experience while promoting sustainability. Furthermore, the trend towards autonomous driving systems fuels demand for advanced steering technologies, creating a pivotal moment for manufacturers to innovate and capture this emerging market segment. In recent times, the emphasis on connected vehicles has gained momentum, leading to a need for compatible steering systems. Integration with various vehicular technologies enhances overall performance and connectivity, ensuring a seamless experience for consumers.
Additionally, as the US consumer base becomes increasingly preference-driven, manufacturers are adapting their product offerings to align with customer expectations for personalization and performance.This dynamic environment reflects the constant evolution within the US Automotive Steering Systems Market, signaling a shift towards more sophisticated innovations that cater to an ever-changing automotive landscape.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
US Automotive Steering Systems Market Drivers
Rising Demand for Electric and Autonomous Vehicles
The shift towards electric vehicles (EVs) and autonomous driving technology is a significant driver for the US Automotive Steering Systems Market Industry. According to the US Department of Energy, the number of electric vehicles on the road has nearly tripled from 2016 to 2021, showcasing a growth from around 500,000 to over 1.5 million.
This surge in demand necessitates advanced steering systems such as steer-by-wire, which are more compatible with electric powertrains and autonomous capabilities.Major players like Tesla and General Motors are investing heavily in these technologies, reflecting the industry's commitment to adapting to changing consumer preferences and regulatory pressures for reduced emissions. As automakers focus on developing smarter and more efficient vehicles, the need for innovative steering solutions increases, further driving the US Automotive Steering Systems Market.
Increasing Focus on Vehicle Safety and Comfort
The growing emphasis on vehicle safety and occupant comfort is driving advancements in automotive steering systems within the US market. The National Highway Traffic Safety Administration (NHTSA) indicates that effective steering control is critical in preventing accidents, with poor steering response contributing to more than 40 percent of vehicle crashes.
In response, manufacturers are integrating features like electronic stability control (ESC) and advanced driver-assistance systems (ADAS) into their steering technologies.This trend is supported by automotive companies such as Ford and Toyota, which have rolled out enhanced steering systems that improve handling and responsiveness. As safety regulations tighten and consumer expectations rise, the demand for advanced steering systems is expected to accelerate, benefiting the US Automotive Steering Systems Market.
Technological Innovations in Steering System Design
Ongoing technological innovations, particularly in terms of digital and electric steering systems, are propelling growth in the US Automotive Steering Systems Market Industry. Research from the Society of Automotive Engineers highlights a shift from traditional hydraulic systems to electric power-assisted steering (EPAS), with forecasts estimating that EPAS will represent over 60 percent of the steering systems used in vehicles by 2025.
Companies like Bosch and ZF Friedrichshafen are heavily investing in Research and Development efforts to enhance steering precision, reduce fuel consumption, and lower manufacturing costs.These technological advancements not only streamline production but also enable the development of features that enhance driving experiences, making them critical drivers for the market's growth in the US.
Regulatory Compliance Driving Technological Advancements
Strict government regulations surrounding fuel efficiency and emissions are promoting innovation in automotive steering technologies. The US Environmental Protection Agency (EPA) has set increasingly stringent Corporate Average Fuel Economy (CAFE) standards, mandating higher fuel efficiency in all vehicles. As a result, automotive manufacturers are compelled to adopt lighter and more efficient steering systems to meet these standards.
Major auto manufacturers, including Honda and Volkswagen, are integrating lightweight materials and optimizing steering mechanisms to enhance efficiency.This regulatory pressure is a catalyst for advancements in steering systems, propelling the growth of the US Automotive Steering Systems Market Industry as companies strive to remain compliant while providing high-performance vehicles.
US Automotive Steering Systems Market Segment Insights:
Automotive Steering Systems Market Steering System Insights
The US Automotive Steering Systems Market demonstrates significant growth driven by an increasing demand for enhanced vehicle control and safety features. The market includes various segments such as manual, electrically powered, electro-hydraulic powered, and hydraulic powered steering systems, each contributing to the industry's dynamic landscape. Currently, the manual steering systems are popular in numerous vehicles due to their simplicity and lower cost of production. However, this segment is gradually being outpaced by the rise of electrically powered systems, which boast improvements in energy efficiency and responsiveness, aligning with the industry's shift towards electrification and sustainability.
Electro-hydraulic powered steering systems represent a blend of both hydraulic and electrical technologies, gaining traction for their ability to deliver optimal performance in various driving conditions while maintaining a relatively compact design. This segment also enhances fuel efficiency compared to traditional hydraulic systems, making it an appealing choice for manufacturers aiming to meet regulatory mandates concerning emissions and fuel economy.
Meanwhile, hydraulic powered steering systems remain prevalent in larger vehicles such as trucks and SUVs, where their robust performance under different load conditions is highly valued. This segment caters to the more traditional preferences among consumers who prioritize durability and reliability in steering systems. As the US automotive industry continues to evolve, these segments face various growth drivers, including advancements in technology, increasing consumer preference for comfort and convenience, and a rising focus on vehicle safety. The demand for steer-by-wire systems is expected to create new opportunities in the market, promoting further innovation and efficiency.
Challenges in the US Automotive Steering Systems Market include the integration of new technologies into existing manufacturing processes and addressing consumer concerns related to dependability and repairability. Overall, the diverse steering system segments illustrate the ongoing transformation within the automotive landscape, as they adapt to changing consumer needs and regulatory pressures while remaining pivotal in enhancing driving experiences.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Steering Systems Market Component Insights
The Component segment of the US Automotive Steering Systems Market includes critical elements such as Hydraulic Pumps, Steering Sensors and Columns, Electric Motors, and other related components. Each of these elements plays a significant role in enhancing vehicle handling and performance. Hydraulic Pumps are vital for steering control, providing necessary assistive force to the system. On the other hand, Steering Sensors and Columns are increasingly important due to advancements in vehicle technology, enabling features like lane-keeping assistance and automated steering.
Electric Motors are gaining traction as the market shifts towards electric and hybrid vehicles, reflecting a trend in automotive electrification. This embrace of electric systems points towards a future where traditional hydraulic methods may evolve, offering opportunities for innovation and sustainability. The increasing complexity of modern vehicles, coupled with a growing focus on safety and efficiency, underscores the importance of robust components in enhancing the overall driving experience. As these trends continue to develop, the Component segment will be pivotal in shaping the US Automotive Steering Systems Market landscape.
Automotive Steering Systems Market Sales Channel Insights
The Sales Channel segment of the US Automotive Steering Systems Market plays a critical role in shaping the overall industry dynamics. It is primarily divided into Original Equipment Manufacturers (OEM) and Aftermarket channels, both of which are essential for providing steering solutions to automotive consumers. The OEM segment is significant due to its established relationships with vehicle manufacturers, enabling it to dominate the initial distribution of steering systems. This category benefits from advancements in technology and innovation in vehicle design, ensuring that high-quality steering systems are integrated into new vehicles.Conversely, the Aftermarket segment has emerged as an important player, catering to the growing demand for vehicle maintenance and upgrades among consumers.
With an increasing vehicle age in the US, the need for aftermarket steering systems is on the rise, driven by factors such as the enhancement of vehicle performance and safety. Furthermore, regulatory standards aimed at improving vehicle stability and handling further increase the aftermarket's relevance. Both channels contribute to the US Automotive Steering Systems Market's growth trajectory, offering diverse opportunities and navigating various challenges, including fluctuating material costs and evolving consumer preferences.Overall, the segmentation within the Sales Channel highlights the intricate relationship between production and consumer demand in the automotive steering systems landscape.
Automotive Steering Systems Market Vehicle Type Insights
The US Automotive Steering Systems Market, focusing on the Vehicle Type segment, encompasses a diverse range of applications, including Commercial Vehicles and Passenger Vehicles. This segmentation plays a crucial role in defining the market landscape, as it caters to the specific needs of different vehicle types. Passenger Vehicles are particularly significant, as they account for a substantial share of the market, driven by increasing consumer demand for advanced steering technologies and enhanced driving experiences. On the other hand, Commercial Vehicles are witnessing a steady rise due to growing logistics and transportation services, requiring robust and efficient steering systems that can withstand heavy usage.
The Others segment includes specialty vehicles, which, although smaller in comparison, presents unique opportunities for innovation in steering solutions tailored to niche applications. The ongoing trend towards electrification and automation in the US automotive industry is further propelling advancements within these vehicle types, making the US Automotive Steering Systems Market a dynamic space poised for growth in the coming years. Overall, this segmentation reflects the evolving transportation ecosystem, driven by consumer preferences and industry trends.
US Automotive Steering Systems Market Key Players and Competitive Insights:
The US Automotive Steering Systems Market is a dynamic and rapidly evolving sector characterized by intense competition among various players that strive to provide innovative solutions. Competition is primarily driven by technological advancements, regulatory standards, and shifting consumer preferences towards safety and efficiency. Companies are focusing on enhancing their product offerings through research and development, collaborating with automotive manufacturers, and integrating smart technologies. Additionally, the market is influenced by the increasing adoption of electric vehicles, which necessitates the development of advanced steering systems that cater to new automotive designs.
Understanding the competitive landscape is essential for market participants to identify growth opportunities and make informed strategic decisions.TRW Automotive holds a significant position in the US Automotive Steering Systems Market due to its strong brand recognition and a robust portfolio of steering solutions. The company excels in providing a wide range of steering systems, including electric power steering and hydraulic systems, which are designed to enhance vehicle performance and driver comfort. TRW Automotive is well-known for its commitment to quality and innovation, allowing it to establish lasting partnerships with major automobile manufacturers. The company leverages its extensive R&D capabilities to stay ahead in the market, consistently developing advanced steering technologies that align with the latest industry trends.
Furthermore, its focus on safety features in steering systems positions TRW Automotive as a preferred choice among consumers and manufacturers alike.Aisin Seiki Co Ltd plays a crucial role in the US Automotive Steering Systems Market, offering a diverse array of products aimed at enhancing vehicle performance and driver safety. The company's product lineup includes electronically controlled steering systems and advanced steering components that cater to the needs of modern vehicles. Aisin Seiki Co Ltd is recognized for its engineering excellence and commitment to sustainable practices, which resonate well with environmentally conscious consumers and manufacturers.
The company has established a strong market presence through strategic partnerships and collaborations within the US automotive sector. Aisin is also known for its mergers and acquisitions, which have facilitated its expansion and technological advancement, enabling the company to adapt to the evolving landscape of the automotive industry. This proactive approach has allowed Aisin Seiki Co Ltd to strengthen its competitive edge in the market and maintain a strong position among its peers.
Key Companies in the US Automotive Steering Systems Market Include:
US Automotive Steering Systems Market Industry Developments
Recent developments in the US Automotive Steering Systems Market reveal ongoing growth and innovation, particularly among key players such as TRW Automotive, Aisin Seiki Co Ltd, and ZF Friedrichshafen AG. Notably, in January 2023, Nexteer Automotive announced an expansion of its electric power steering production capabilities to meet increasing demand for fuel efficiency and electric vehicles. Mando Corporation is also investing in Research and Development for advanced steering technologies, which is critical for meeting evolving regulatory standards.
Amidst these advancements, a significant merger occurred in December 2022 when Schaeffler AG completed its acquisition of a controlling interest in a steering systems company to enhance its product portfolio. The market has seen an uptick in valuation due to the heightened demand for advanced driver-assistance systems (ADAS) and automated vehicles, reflecting a shift in consumer preferences and regulatory frameworks emphasizing safety and efficiency. The growth trajectory of the automotive sector post-pandemic continues to drive interest and investment, particularly in electric steering systems. The market's evolution indicates sustained interest in automotive technology integration aimed at improving overall vehicle performance and safety standards in the United States.
US Automotive Steering Systems Market Segmentation Insights
Automotive Steering Systems Market Steering System Outlook
Automotive Steering Systems Market Component Outlook
Automotive Steering Systems Market Sales Channel Outlook
Automotive Steering Systems Market Vehicle Type Outlook
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2018 | 3.43(USD Billion) |
| MARKET SIZE 2024 | 3.6(USD Billion) |
| MARKET SIZE 2035 | 6.0(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 4.753% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | TRW Automotive, Aisin Seiki Co Ltd, Thyssenkrupp AG, Robert Bosch GmbH, Schaeffler AG, GKN Automotive, Magna International, Continental AG, JTEKT Corporation, ZF Friedrichshafen AG, Denso Corporation, Nexteer Automotive, Hyundai Mobis, Mando Corporation, Honda Lock Manufacturing |
| SEGMENTS COVERED | Steering System, Component, Sales Channel, Vehicle Type |
| KEY MARKET OPPORTUNITIES | Electric steering system advancements, Autonomous vehicle integration, Lightweight materials development, Enhanced driver-assist technologies, Growing demand for fuel efficiency |
| KEY MARKET DYNAMICS | Technological advancements, Increasing vehicle safety, Electrification of steering systems, Growing demand for comfort, Stringent regulatory standards |
| COUNTRIES COVERED | US |
Frequently Asked Questions (FAQ) :
The US Automotive Steering Systems Market is expected to be valued at approximately 3.6 billion USD in 2024.
The market is projected to reach around 6.0 billion USD by 2035.
The anticipated CAGR for the market is 4.753 percent during the period from 2025 to 2035.
The Electrically Powered steering system segment is expected to dominate, valued at about 1.2 billion USD in 2024.
The Manual steering system segment is projected to reach a value of approximately 1.2 billion USD in 2035.
Major players include TRW Automotive, Aisin Seiki Co Ltd, Thyssenkrupp AG, and Robert Bosch GmbH among others.
The market faces challenges such as competition from new technologies and evolving consumer preferences.
The growth is driven by increasing vehicle production and the demand for advanced steering technologies.
By 2035, the Electro-hydraulic Powered segment is estimated to be valued at around 1.5 billion USD.
Global automotive trends significantly influence the market through advancements in technology and consumer demand for efficiency.
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Senior Research Analyst She has over 5 years of rich experience, in market research and consulting providing valuable market insights to client. hands on expertise in management consulting, and extensive knowledge in domain including ict, automotive & transportation and aerospace & defense. she is skilled in go-to market strategy, industry analysis, market sizing, in depth company profiling, competitive intelligence & benchmarking and value chain amongst others.
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