2026 Global: Automotive Steering System Market-Competitive Review (2032) report
Description
The 2026 Global: Automotive Steering System Market-Competitive Review (2031) report features the global market size and projected growth/decline data for the period 2021 through 2032. The report primarily provides an examination of the business strategies for the ten largest global companies in the market and how their strategies differ.
Perry/Hope Partners' reports provide the most accurate industry forecasts based on our proprietary economic models. Our forecasts project the product market size nationally and by regions for 2021 to 2032 using regression analysis in our modeling. and Perry/Hope is the only market research publisher that utilizes both longitudinal (historical) and vertical (from market section to market division to market class) analysis, since we study every manufactured product in the countries we analyze. The report also provides written analysis on the market definition, market segments, and SWOT analysis (market strengths, weaknesses, opportunities, and threats).
The market study aims at estimating the market size and the growth potential of this market. Topics analyzed within the report include a detailed breakdown of the global markets for automotive steering system market by geography and historical trend. The scope of the report extends to sizing of the automotive steering system market market and global market trends with market data for 2024 as the base year, 2025 and 2026 as the estimate years with projection of CAGR from 2027 to 2032.
The report also features a list of the top ten largest global players in the market. A review of each company includes 1) an estimate of the market share, 2) a listing of the products and/or services in the market, and 3) the features of these products and/or services in the market. The report has a chapter on Comparative Business Strategies for the largest four players. An example of the Comparative Business Strategies analysis would be -- How does Netflix's business strategy to expand its market share in the global online streaming compare to Amazon Prime's business strategy through its video products and services?
The ten market players in this report and a brief synopsis of their participation in the market are:
The automotive steering system market features dominant players like ZF Friedrichshafen AG, Robert Bosch GmbH, JTEKT Corporation, Nexteer Automotive, and NSK Ltd., which lead through innovations in electric power steering (EPS) and steer-by-wire technologies. ZF excels in integrated safety systems and EPS for passenger cars and commercial vehicles, bolstered by its 2024 acquisition of TRW Sun Steering Wheels to enhance steering solutions and market share in India. Bosch, via subsidiaries like Bosch Huayu, supplies precision dual-pinion EPS to major OEMs such as Volkswagen and Ford, emphasizing energy efficiency and automated driving compatibility. JTEKT, formed from Koyo Seiko and Toyota Machine Works, dominates Asia with rack-and-pinion systems for hybrids and EVs, operating over 20 factories in China. Nexteer specializes in ADAS-integrated EPS and steer-by-wire, with its 2025 high-output column-assist EPS supporting SUVs and entry-level EVs up to 110 Nm torque. NSK focuses on low-friction bearings and durable steering columns, serving luxury automakers with precision engineering.
Additional key companies include Hyundai Mobis, Thyssenkrupp, Denso Corporation, Schaeffler Group, and Mando Corporation (HL Mando), driving market growth amid rising EV and ADAS demand. Hyundai Mobis integrates steering with braking for Hyundai-Kia vehicles, advancing 48V EPS and autonomous tech. Thyssenkrupp leads in modular hydraulic and electric systems via massive cold forming, targeting cost-effective solutions for emerging markets and Europe. Denso contributes electronic controls and sensors, enhancing steering responsiveness in global OEM supply chains. Schaeffler, post-merger with Vitesco, invests in electronics for automated driving, projecting strong EBIT growth by 2029. Mando (now part of HL Mando) develops EPS with ADAS features, holding significant share in Asia-Pacific's high-volume production.
These ten firms—ZF, Bosch, JTEKT, Nexteer, NSK, Hyundai Mobis, Thyssenkrupp, Denso, Schaeffler, and Mando—collectively command over 70% market share, fueled by EPS dominance (71.95% in 2024) and steer-by-wire adoption for Level 3 autonomy. Strategic moves like ZF's NIO ET9 steer-by-wire in 2025 and Nexteer's Quiet Wheel™ underscore their edge in software-integrated systems. Asia-Pacific, led by China and Japan, holds 48.67% share, with EPS projected to reach 180 million units by 2028 amid EV surges. Their R&D focuses on rare-earth-free motors and safety stacks, navigating challenges like high costs while enabling fuel-efficient, precise control in a market valued at USD 34.98 billion in 2025.
Perry/Hope Partners' reports provide the most accurate industry forecasts based on our proprietary economic models. Our forecasts project the product market size nationally and by regions for 2021 to 2032 using regression analysis in our modeling. and Perry/Hope is the only market research publisher that utilizes both longitudinal (historical) and vertical (from market section to market division to market class) analysis, since we study every manufactured product in the countries we analyze. The report also provides written analysis on the market definition, market segments, and SWOT analysis (market strengths, weaknesses, opportunities, and threats).
The market study aims at estimating the market size and the growth potential of this market. Topics analyzed within the report include a detailed breakdown of the global markets for automotive steering system market by geography and historical trend. The scope of the report extends to sizing of the automotive steering system market market and global market trends with market data for 2024 as the base year, 2025 and 2026 as the estimate years with projection of CAGR from 2027 to 2032.
The report also features a list of the top ten largest global players in the market. A review of each company includes 1) an estimate of the market share, 2) a listing of the products and/or services in the market, and 3) the features of these products and/or services in the market. The report has a chapter on Comparative Business Strategies for the largest four players. An example of the Comparative Business Strategies analysis would be -- How does Netflix's business strategy to expand its market share in the global online streaming compare to Amazon Prime's business strategy through its video products and services?
The ten market players in this report and a brief synopsis of their participation in the market are:
The automotive steering system market features dominant players like ZF Friedrichshafen AG, Robert Bosch GmbH, JTEKT Corporation, Nexteer Automotive, and NSK Ltd., which lead through innovations in electric power steering (EPS) and steer-by-wire technologies. ZF excels in integrated safety systems and EPS for passenger cars and commercial vehicles, bolstered by its 2024 acquisition of TRW Sun Steering Wheels to enhance steering solutions and market share in India. Bosch, via subsidiaries like Bosch Huayu, supplies precision dual-pinion EPS to major OEMs such as Volkswagen and Ford, emphasizing energy efficiency and automated driving compatibility. JTEKT, formed from Koyo Seiko and Toyota Machine Works, dominates Asia with rack-and-pinion systems for hybrids and EVs, operating over 20 factories in China. Nexteer specializes in ADAS-integrated EPS and steer-by-wire, with its 2025 high-output column-assist EPS supporting SUVs and entry-level EVs up to 110 Nm torque. NSK focuses on low-friction bearings and durable steering columns, serving luxury automakers with precision engineering.
Additional key companies include Hyundai Mobis, Thyssenkrupp, Denso Corporation, Schaeffler Group, and Mando Corporation (HL Mando), driving market growth amid rising EV and ADAS demand. Hyundai Mobis integrates steering with braking for Hyundai-Kia vehicles, advancing 48V EPS and autonomous tech. Thyssenkrupp leads in modular hydraulic and electric systems via massive cold forming, targeting cost-effective solutions for emerging markets and Europe. Denso contributes electronic controls and sensors, enhancing steering responsiveness in global OEM supply chains. Schaeffler, post-merger with Vitesco, invests in electronics for automated driving, projecting strong EBIT growth by 2029. Mando (now part of HL Mando) develops EPS with ADAS features, holding significant share in Asia-Pacific's high-volume production.
These ten firms—ZF, Bosch, JTEKT, Nexteer, NSK, Hyundai Mobis, Thyssenkrupp, Denso, Schaeffler, and Mando—collectively command over 70% market share, fueled by EPS dominance (71.95% in 2024) and steer-by-wire adoption for Level 3 autonomy. Strategic moves like ZF's NIO ET9 steer-by-wire in 2025 and Nexteer's Quiet Wheel™ underscore their edge in software-integrated systems. Asia-Pacific, led by China and Japan, holds 48.67% share, with EPS projected to reach 180 million units by 2028 amid EV surges. Their R&D focuses on rare-earth-free motors and safety stacks, navigating challenges like high costs while enabling fuel-efficient, precise control in a market valued at USD 34.98 billion in 2025.
Table of Contents
32 Pages
- 1.0 Scope of Report and Methodology
- 2.0 Market SWOT Analysis and Players
- 2.1 Market Definition
- 2.2 Market Segments
- 2.3 Market Strengths
- 2.4 Market Weaknesses
- 2.5 Market Threats
- 2.6 Market Opportunities
- 2.7 Major Players
- 3.0 Competitive Analysis
- 3.1 Market Player 1
- 3.2 Market Player 2
- 3.3 Market Player 3
- 3.4 Market Player 4
- 3.5 Market Player 5
- 3.6 Market Player 6
- 3.7 Market Player 7
- 3.8 Market Player 8
- 3.9 Market Player 9
- 3.10 Market Player 10
- 4.0 Comparative Business Strategies
- 4.1 Comparative Business Strategies of Player 1 and 2
- 4.2 Comparative Business Strategies of Player 1 and 3
- 4.3 Comparative Business Strategies of Player 1 and 4
- 4.4 Comparative Business Strategies of Player 2 and 3
- 4.5 Comparative Business Strategies of Player 2 and 4
- 4.6 Comparative Business Strategies of Player 3 and 4
- 5.0 Appendix
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