Automotive steering system market seen reaching $35.7B by 2032

By AI, Created 4:47 PM UTC, May 18, 2026, /AGP/ – Persistence Market Research says the global automotive steering system market will grow from $25.7 billion in 2025 to $35.7 billion by 2032, driven by electric vehicle adoption, fuel-efficiency demand and advanced steering technologies. Asia Pacific leads the market as automakers push electric power steering, intelligent controls and systems for autonomous driving.

Why it matters: - Automotive steering systems sit at the center of vehicle safety, handling and efficiency. - Growth in electric vehicles and advanced driver-assistance systems is shifting demand toward lighter, smarter steering technologies. - The market’s expected expansion signals more spending on electric power steering, sensors and electronically controlled systems across passenger and commercial vehicles.

What happened: - Persistence Market Research valued the global automotive steering system market at US$25.7 billion in 2025. - The firm projects the market will reach US$35.7 billion by 2032. - The forecast implies a 4.8% compound annual growth rate from 2025 to 2032. - The report ties growth to higher vehicle production, stronger demand for driving comfort and wider use of advanced steering technologies. - The report says Asia Pacific leads the global market. - The report says electric power steering is the leading segment. - A free sample is available here.

The details: - Electric power steering systems are gaining share because they reduce fuel consumption and improve steering precision. - Automakers are integrating intelligent steering technologies to improve vehicle performance and fuel efficiency. - Rising production of electric and hybrid vehicles is increasing demand for technologically advanced steering systems. - Advanced driver assistance systems are accelerating development of intelligent and electronically controlled steering technologies. - The market is segmented by component into hydraulic pump, steering column/rack, sensors, electric motor and others. - The market is segmented by mechanism into electronic power steering, hydraulic power steering and electrically assisted hydraulic power steering. - The market is segmented by vehicle type into passenger cars, light commercial vehicles and heavy commercial vehicles. - The report covers North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. - The report also offers customization here. - The company lists Robert Bosch, JTEKT, ZF Friedrichshafen, Nexteer Automotive, NSK, Thyssenkrupp, Mando, Showa and Hyundai Mobis among the market companies. - The report includes a purchase link here.

Between the lines: - The strongest tailwind is the move to electrification, since electric power steering fits the efficiency goals of EVs and fuel-conscious automakers. - Autonomous and semi-autonomous driving ambitions are also pushing the market toward steer-by-wire and more precise electronic control. - Asia Pacific’s lead reflects concentration of vehicle manufacturing in China, India, Japan and South Korea. - North America and Europe remain important because regulations, premium vehicle demand and R&D spending are pushing adoption of advanced steering systems.

What’s next: - Persistence Market Research expects continued growth as automakers invest in electric mobility, autonomous driving and connected vehicles. - Future gains likely depend on adoption of steer-by-wire, smarter steering controls and other technologies that support automation and battery efficiency. - The report says long-term opportunities will come from continued improvements in steering precision and vehicle safety.