Automotive Steering-by-Wire System Market size is estimated to be USD 6.5 Billion in 2024 and is expected to reach USD 15.2 Billion by 2033 at a CAGR of 10.1% from 2026 to 2033.
The global automotive steering by wire system market was valued at approximately USD 1.45 billion in 2022 and is projected to reach USD 6.12 billion by 2030, expanding at a robust CAGR of 19.8% from 2023 to 2030. The increasing adoption of electric vehicles (EVs), advancements in autonomous driving technologies, and the growing demand for lightweight components are driving the growth of this market. North America held the largest market share in 2022, accounting for around 40% of the overall market revenue. This dominance is attributed to high automotive production rates and increased R&D investments in steering technologies, particularly in the United States. Moreover, Europe is expected to witness significant growth due to the presence of leading automotive manufacturers and regulatory mandates encouraging the integration of advanced vehicle systems. The Asia Pacific region is also anticipated to experience substantial growth, owing to the rising demand for premium and electric vehicles in countries like China, Japan, and South Korea.
In terms of opportunities, the automotive steering by wire system market is poised for considerable expansion in emerging economies, driven by the increasing penetration of EVs and the growing automotive sector. Furthermore, the trend toward improved vehicle safety, comfort, and customization is expected to create significant growth prospects for steering by wire systems in both conventional and autonomous vehicles. As vehicle electrification accelerates, the demand for steering systems that offer better flexibility and integration with autonomous technologies is forecasted to rise, leading to opportunities in developing more sophisticated and user friendly solutions. The market in Latin America and the Middle East & Africa is also expected to grow steadily due to increasing infrastructure investments and demand for high tech automotive systems.
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Bosch
Continental
Schaeffler
Nexteer Automotive
ZF
Bethel Automotive Safety
Mando
NSK
JTEKT
NASN Automotive Electronics
Ningbo Tuopu Group
Global Technology
Zhejiang VIE Science & Technology
Trinova
Tongyu Automotive
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Automotive Steering-by-Wire System Market
Passenger Cars
Commercial Vehicles
Two-wheelers
Electric Vehicles
Sensor Unit
Control Unit
Actuator
Communication Interface
Active Steering
Passive Steering
Adaptive Steering
Performance-based Steering
Electromechanical
Electrohydraulic
Hybrid Systems
Software Algorithms for Control
Automated Driving Systems
Performance Vehicles
Luxury Vehicles
Off-road Vehicles
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Automotive Steering-by-Wire System Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Automotive Steering-by-Wire System Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Automotive Steering-by-Wire System Market, By Type
6. Global Automotive Steering-by-Wire System Market, By Application
7. Global Automotive Steering-by-Wire System Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Automotive Steering-by-Wire System Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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