Carpet Cleaning Machine Market- Industry Structure Evaluation, Demand Drivers Analysis, Regional Growth Analysis and Identification, Competitive Positioning Review & Global Market Size Forecast to 2032
Overview
Automotive Steer-by-Wire Market size was valued at USD 4.5 Billion in 2024 and the total Global Automotive Steer-by-Wire Market revenue is expected to grow at a CAGR of 7.3% from 2025 to 2032, reaching nearly USD 7.91 Billion. Driven by early system integration, rising demand for autonomous features, and limited aftermarket adoption.
Global Automotive Steer-by-Wire Market Overview
Steer-by-wire technology uses electronic components for steering a vehicle rather than conventional mechanical and hydraulic steering systems. This steer-by-wire technology utilizes an electric motor to apply steering force over the rack and pinion. It also reduces the vehicle weight & enhances vehicle performance, safety, and reliability by eliminating several mechanical components like steering shaft, column, and gear reduction mechanism. Nissan is among the first automobile manufacturers who introduced SBW systems in its cars.
The report covers the detailed analysis of the global automotive Steer-by-wire industry with the classifications of the market based on technology, vehicle type, and region. Analysis of past market dynamics from 2016 to 2019 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key player's contribution in it.
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The report has profiled key players in the market from different regions. However, the report has considered all market leaders, followers and new entrants with investors while analyzing the market and estimation of market size. The manufacturing environment in each region is different and focus is given to the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed.
Global Automotive Steer-by-Wire Market Dynamics
Regulatory bodies across several countries have urged vehicle manufacturers to incorporate electronic power-assisted steering technology due to raised concerns about in-vehicle safety, the need for advanced driver assistance systems, and development & integration of advanced vehicle technologies, which in turn is expected to drive the growth of the global automotive steer-by-wire market.
Similarly, factors like safety, reliability, and reduction in vehicle weight to enhance vehicle efficiency are creating demand for automotive steer-by-wire technology globally. The manufacturers like BMW, Mercedes, and Nissan started investing high amounts in the development and adoption of steer-by-wire system technology in their vehicles, which is expected to fuel the automotive steer-by-wire market during the forecast period.
The factors like high chances of malfunction as automotive steer-by-wire technology use a computerized system and electronic sensors and occasionally fatal injuries are expected to hinder the growth of the global automotive steer-by-wire market during the forecast period.
Global Automotive Steer-by-Wire Market Segmentation Analysis
Based on Vehicle Type, the market is segmented into commercial vehicles, passenger vehicles and electric vehicles. The electric vehicles segment dominated the market in 2024 and is expected to hold the market share during the forecast period. As electric power-assisted steering is expected to become mandatory in passenger cars across several countries the passenger segment is expected to grow during the forecast period. The rise in the average age of vehicles and demand for autonomous technology in cars like hatchback, sedan, SUV/MUV, sports car, and others are driving the growth of passenger vehicles across the world. Similarly, increase in demand for advanced features, rise in the standard of living, increasing purchasing power capacity, rise in per capita income of individuals, increasing industrialization, changing way of life, and high disposable incomes are some of the factors for the growth of the automotive steer-by-wire market globally.
Based on Sales Channel the market is segmented into OEMs and Aftermarket. OEMs segment dominated the market in 2024 & is expected to hold the largest market share during the forecast period. due to early integration in vehicle manufacturing rising demand for ADAS features, and strong partnerships with automakers. Aftermarket remains limited due to high complexity and safety concerns.
The rise in the average age of vehicles and demand for autonomous technology in cars like hatchback, sedan, SUV/MUV, sports car, and others are driving the growth of passenger vehicles across the world. Similarly, increase in demand for advanced features, rise in the standard of living, increasing purchasing power capacity, rise in per capita income of individuals, increasing industrialization, changing way of life, and high disposable incomes are some of the factors for the growth of the automotive steer-by-wire market globally.
The Americas was the leading region for the global automotive steer-by-wire system market in 2019, accounting for a market share of nearly 65% and is expected to share the highest growth of nearly 3% by 2030. Growing urbanization, industrialization, and the strong presence of key vehicle manufacturers in countries such as China, Japan, and South Korea of Asia pacific have led the global automotive steer-by-wire market to hold a significant share during the forecast period.
Similarly, the European region has adopted automotive steer-by-wire due to the rise in the automotive sector, new technologies, and their availability at a lower cost by top automobile manufacturers, which in turn is expected to boost the automotive steer-by-wire market in the region during the forecast period.
Global Automotive Steer-by-Wire Market Scope: Inquire before buying
| Automotive Steer-by-Wire Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2024 | Forecast Period: | 2025-2032 |
| Historical Data: | 2019 to 2024 | Market Size in 2024: | USD 4.5 Bn. |
| Forecast Period 2025 to 2032 CAGR: | 7.3% | Market Size in 2032: | USD 7.91 Bn. |
| Segments Covered: | by Component | Steering Actuator Electronic Control Unit Sensors Feedback Motor Others |
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| by Vehicle Type | Passenger Cars Commercial Vehicles Electric Vehicles |
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| by Propulsion Type | Internal Combustion Engine Battery Electric Vehicle Hybrid Electric Vehicle Plug-in Hybrid Electric Vehicle |
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| by Sales Channel | OEMs Aftermarket |
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Global Automotive Steer-by-Wire Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Global Automotive Steer-by-Wire Market Key Players
1. Danfoss
2. JTEKT NORTH AMERICA
3. ZF Friedrichshafen AG
4. LORD Corporation
5. Eaton
6. KYB Corporation
7. NSK Ltd
8. Nexteer Automotive Corporation
9. Ficosa International S.A.
10.Kongsberg Gruppen
11.Robert Bosch GmbH
12.Thyssenkrupp AG
13.Paravan GmbH (Germany)
14.SKF (Sweden)
15.Sona Koyo Steering Systems Ltd
Frequently Asked Questions:
1.Which region has the largest share in Global Automotive Steer-by-Wire Market?
Ans: Asia Pacific region held the highest share in 2024.
2.What is the growth rate of Global Automotive Steer-by-Wire Market?
Ans: The Global Automotive Steer-by-Wire Market is growing at a CAGR of 7.3% during forecasting period 2025-2032.
3.What is scope of the Global Automotive Steer-by-Wire Market report?
Ans: Global Automotive Steer-by-Wire Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors& Leaders, and market estimation of the forecast period.
4.Who are the key players in Global Automotive Steer-by-Wire Market?
Ans: The important key players in the Global Automotive Steer-by-Wire Market are – Denso Corporation, Hanon Systems, Sanden Holding Corporation, Mitsubishi Heavy Industries Ltd, MAHLE GmbH, Valeo SA, Keihin Corporation, Calsonic Kansei Corporation, SamvardhanaMotherson Group, Subros Limited, SMAC Auto Air, TransAir Manufacturing, Eberspacher Group, Marelli Corporation.
5.What is the study period of this Market?
Ans: The Global Automotive Steer-by-Wire Market is studied from 2024 to 2032.