Dublin, April 24, 2025 (GLOBE NEWSWIRE) -- The "Automotive Steering Motors - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Automotive Steering Motors was valued at US$1.9 Billion in 2024 and is projected to reach US$2.2 Billion by 2030, growing at a CAGR of 2.8% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The report includes the most recent global tariff developments and how they impact the Automotive Steering Motors market.
Why Are Regulatory Standards and Consumer Preferences Driving the Adoption of Steering Motors?
Government regulations and shifting consumer preferences are significantly impacting the adoption of automotive steering motors. Regulatory bodies in regions such as North America, Europe, and Asia are enforcing stringent fuel efficiency and emissions standards, compelling automakers to adopt lighter, more energy-efficient systems like EPS, which relies on steering motors. These regulations align with broader global efforts to reduce the automotive industry's carbon footprint, further driving the shift from hydraulic to electric steering systems.
At the same time, consumers are increasingly prioritizing vehicles that offer advanced safety features, smooth handling, and enhanced fuel economy - all of which are made possible by electric power steering systems with high-performance motors. The growing demand for electric vehicles (EVs) and hybrid vehicles also contributes to the widespread adoption of steering motors, as these vehicles rely heavily on electric components to minimize weight and optimize power usage.
Consequently, the combination of regulatory mandates and consumer demand for sustainable, efficient, and safe vehicles is fueling the expansion of the automotive steering motor market.
What Is Fueling the Growth of the Global Automotive Steering Motors Market?
The growth in the global automotive steering motors market is driven by several factors, most notably the increasing shift toward electric power steering (EPS) systems, advancements in automotive technology, and rising demand for electric and hybrid vehicles.
One key driver is the growing preference for EPS over hydraulic systems due to its energy efficiency, which reduces fuel consumption and emissions, making it more compliant with stringent global environmental regulations. Technological advancements, including the development of more efficient and durable brushless motors, integrated sensors, and AI-driven adaptive steering systems, are further propelling market growth.
The increasing adoption of electric and autonomous vehicles is another significant factor, as these vehicles require sophisticated steering motors to support autonomous driving features and enhance vehicle control. Lastly, the rising demand for vehicles with advanced safety and driver assistance systems (ADAS) is boosting the need for high-performance steering motors, which are critical to the accurate control required by these systems.
Together, these factors ensure continued growth in the automotive steering motors market as automakers focus on innovation and sustainability.
Report Scope
The report analyzes the Automotive Steering Motors market, presented in terms of units. The analysis covers the key segments and geographic regions outlined below.
Segments: End-Use (Passenger Cars End-Use, Commercial Vehicles End-Use).
Geographic Regions/Countries: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Passenger Cars End-Use segment, which is expected to reach US$1.5 Billion by 2030 with a CAGR of a 3%. The Commercial Vehicles End-Use segment is also set to grow at 2.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $501.9 Million in 2024, and China, forecasted to grow at an impressive 5.6% CAGR to reach $444.0 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Automotive Steering Motors Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of players such as ABLIC Inc., Bosch Mobility Solutions, HL Mando Corp., Infineon Technologies AG, Johnson Electric Holdings Limited and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 25 companies featured in this Automotive Steering Motors market report include:
- ABLIC Inc.
- Bosch Mobility Solutions
- HL Mando Corp.
- Infineon Technologies AG
- Johnson Electric Holdings Limited
- JTEKT Corporation
- Knorr-Bremse Commercial Vehicle Systems GmbH
- MAHLE GmbH
- Mitsuba Corporation
- Mitsubishi Electric India Pvt. Ltd. (MITSUBISHI Electric Automation)
Tariff Impact Analysis: Key Insights for 2025
Global tariff negotiations across 180+ countries are reshaping supply chains, costs, and competitiveness. This report reflects the latest developments as of April 2025 and incorporates forward-looking insights into the market outlook.
The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.
What's Included in This Edition:
- Tariff-adjusted market forecasts by region and segment
- Analysis of cost and supply chain implications by sourcing and trade exposure
- Strategic insights into geographic shifts
Buyers receive a free 2025 update with:
- Finalized tariff impacts and new trade agreement effects
- Updated projections reflecting global sourcing and cost shifts
- Expanded country-specific coverage across the industry
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 163 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $1.9 Billion |
| Forecasted Market Value (USD) by 2030 | $2.2 Billion |
| Compound Annual Growth Rate | 2.8% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Tariff Impact on Global Supply Chain Patterns
- Economic Frontiers: Trends, Trials & Transformations
- Automotive Steering Motors - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Increasing Shift Toward Electric Power Steering (EPS) Systems Throws Spotlight on Rising Demand for Automotive Steering Motors
- Global Transition to Electric Vehicles (EVs) Spurs Growth in Automotive Steering Motors Market
- Rising Consumer Demand for Enhanced Vehicle Handling and Safety Strengthens the Business Case for High-Performance Steering Motors
- Technological Advancements in Brushless DC Motors Drive Efficiency in Automotive Steering Systems
- Growing Adoption of Advanced Driver Assistance Systems (ADAS) Expands Addressable Market for Precision Steering Motors
- Shift Towards Autonomous Driving Propels Innovation in Automotive Steering Motors for Greater Control
- Increasing Focus on Vehicle Fuel Efficiency Drives Adoption of Electric Power Steering Motors
- Advancements in AI and Machine Learning Technologies Strengthen Integration of Smart Automotive Steering Systems
- Expansion of Hybrid and Electric Vehicle Production Generates Significant Growth in Demand for Automotive Steering Motors
- Rising Regulatory Pressure on Emissions and Fuel Economy Boosts Market Demand for Energy-Efficient Steering Motors
- Growing Adoption of Lightweight Automotive Components Sustains Demand for Compact Steering Motors
For more information about this report visit https://www.researchandmarkets.com/r/1nqwj1
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
