Automotive Steering System Market

The global automotive steering system market is expected to witness steady growth, with a market size of USD 35.0 billion in 2024, projected to reach USD 46.8 billion by 2033. This growth reflects a compound annual growth rate (CAGR) of 3.3% from 2025 to 2033. The increasing demand for advanced steering technologies, driven by the rising production of vehicles and the shift towards electric and autonomous vehicles, is a key factor propelling this market. Innovations such as electronic steering systems are enhancing vehicle performance, safety, and fuel efficiency, making them increasingly popular among manufacturers. Additionally, the growing emphasis on driver comfort and vehicle handling is further fueling the adoption of sophisticated steering solutions.

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