1. Global Automotive Steering Columns System Market Overview
The global automotive steering columns system market sales volume is projected to reach 95,324 thousand sets in 2024 with a CAGR of 3.49% from 2024 to 2029. This figure reflects the industry’s dynamic evolution, driven by technological advancements, electrification of vehicles, and stringent safety norms.
The automotive steering column system, often referred to as the steering column, is a critical component that connects the steering wheel to the steering mechanism, facilitating the driver’s control over the vehicle’s direction. It is an essential part of the steering system, transferring the rotational torque from the steering wheel to the gearbox. The system’s complexity ranges from non-adjustable columns to electrically adjustable ones, with the latter gaining traction due to its enhanced comfort and safety features.
The automotive steering columns system market is segmented by types into non-adjustable, manually adjustable, and electrically adjustable steering columns. Non-adjustable steering columns, with a fixed position, are the most basic and cost-effective option. Manually adjustable columns allow for vertical movement of the steering wheel, providing a balance between cost and comfort. Electrically adjustable columns, on the other hand, offer the highest level of convenience with motorized adjustments, often integrated with memory functions and safety features like collision energy absorption.
Global Automotive Steering Columns System Market Sales Volume (K Sets) in 2024
2. Driving Factors of Steering Columns System Market
Several factors are propelling the growth of the automotive steering columns system market. The primary driver is the global automotive industry’s expansion, with an increasing number of vehicles hitting the roads each year. As vehicles become more technologically advanced, the demand for sophisticated steering systems that offer improved safety, comfort, and convenience is on the rise.
The advent of electric and autonomous vehicles is another significant factor. These vehicles require advanced steering systems that can integrate with new technologies, such as driver assistance systems and automated driving features. The penetration rate of electrically adjustable steering columns is expected to increase as electrification and intelligence become more prevalent in the automotive sector.
Additionally, government regulations and safety standards are driving the market towards more advanced steering systems. For instance, the need for fail-safe mechanisms in the event of an accident has led to the development of energy-absorbing steering columns that can collapse to protect the driver.
3. Limiting Factors of Steering Columns System Market
Despite the promising growth prospects, the automotive steering columns system market faces certain challenges. One of the primary constraints is the fluctuation in raw material prices, particularly for steel and aluminum, which are key components in the manufacturing process. These price swings can impact the profitability of manufacturers and the overall cost of the steering systems.
Another limiting factor is the industry’s susceptibility to economic cycles. The automotive industry, being a major consumer of steering column systems, is heavily influenced by macroeconomic conditions. During economic downturns, new vehicle sales decline, which in turn affects the demand for steering columns systems market.
Technological obsolescence is also a concern. The rapid pace of innovation in the automotive sector means that steering column systems must continuously evolve to meet new safety and performance standards. Companies that fail to keep up with these technological advancements risk becoming obsolete.
Lastly, the automotive steering columns system market is characterized by a stable supply chain, where established relationships between vehicle manufacturers and parts suppliers can act as a barrier to new entrants. The high barriers to entry, including the need for substantial R&D investments and the ability to meet stringent quality and safety standards, make it challenging for new players to break into the automotive steering columns system market.
4. Global Automotive Steering Columns System Market Segment
Product Types Analysis
The global automotive steering columns system market is diversified in terms of product types, each serving a distinct set of functionalities and consumer preferences. The primary types include non-adjustable, manually adjustable, and electrically adjustable steering columns.
Non-adjustable Steering Columns
Non-adjustable steering columns are the most basic form, offering a fixed position that cannot be altered. These are typically found in entry-level vehicles or where cost is a significant factor. Non-adjustable steering columns are projected to have a sales volume of 23,356 thousand sets in 2024.
Manually Adjustable Steering Columns
Manually adjustable steering columns allow the driver to manually move the steering wheel up or down to a limited extent. These are popular in mid-range vehicles for their balance between cost and functionality. The market research report forecasts a sales volume of 56,979 thousand sets for manually adjustable steering columns in 2024.
Electrically Adjustable Steering Columns
Electrically adjustable steering columns represent the premium end of the market, offering motorized adjustments for optimal comfort and safety features like memory functions. These are expected to capture a significant share of the market due to the rising trend of vehicle electrification and advanced safety features. The estimated sales volume will be 14,989 thousand sets for electrically adjustable steering columns in 2024.
In terms of market share, manually adjustable steering columns hold the largest share, accounting for 59.77% of the market in 2024, reflecting their widespread use across various vehicle segments. However, electrically adjustable steering columns exhibit the fastest growth rate, anticipated to increase due to the growing demand for luxury and safety features in vehicles.
Application Analysis
The applications of automotive steering columns systems are categorized based on vehicle types, including passenger vehicles, light commercial vehicles, medium commercial vehicles, and heavy commercial vehicles.
Passenger Vehicles
Passenger vehicles, which include sedans, SUVs, and other personal transport vehicles, dominate the market with the largest share. The report projects a sales volume of 69,697 thousand sets for passenger vehicles in 2024. This segment’s dominance is attributed to the high volume of passenger vehicle production and the need for sophisticated steering systems in these vehicles.
Light Commercial Vehicles
Light commercial vehicles, with a Gross Vehicle Weight Rating (GVWR) under 10,000 lbs, are expected to have a sales volume of 21,227 thousand sets in 2024. This segment includes vehicles like small trucks and vans used for commercial purposes.
Medium Commercial Vehicles
Medium commercial vehicles, with a GVWR between 10,001 and 26,000 lbs, are projected to have a sales volume of 1,429 thousand sets in 2024. This category includes larger trucks and buses used for public and commercial transport.
Heavy Commercial Vehicles
Heavy commercial vehicles, with a GVWR over 26,001 lbs, are anticipated to have a sales volume of 2,971 thousand sets in 2024. This segment consists mainly of heavy trucks and large buses for long-distance transportation and heavy cargo transportation.
Passenger vehicles not only have the largest market share but also exhibit the fastest growth rate due to the high demand for comfort and safety features in personal vehicles. The increasing production of passenger vehicles globally, coupled with the demand for advanced driver assistance systems, is driving the growth in this application segment.
In conclusion, the manually adjustable steering columns hold the largest market share, while the electrically adjustable type shows the most rapid growth. Similarly, passenger vehicles dominate the application landscape, with the fastest growth rate due to increasing production volumes and the integration of advanced safety and comfort features. These trends underscore the evolving nature of the automotive steering column system market, reflecting consumer preferences and technological advancements in the automotive industry.
Market Sales and Share by Segment
| Type of Steering Column | Sales Volume (K Sets) 2024 | Market Share 2024 | |
| By Type | Non-adjustable | 23,356 | 24.50% |
| Manually Adjustable | 56,979 | 59.77% | |
| Electrically Adjustable | 14,989 | 15.72% | |
| By Application | Passenger Vehicles | 69,697 | 73.12% |
| Light Commercial Vehicles | 21,227 | 22.27% | |
| Medium Commercial Vehicles | 1,429 | 1.50% | |
| Heavy Commercial Vehicles | 2,971 | 3.12% |
5. Regional Automotive Steering Columns System Market Segment
The global automotive steering columns system market is a diverse and expansive landscape, with various regions contributing significantly to its growth.
North America
North America is expected to have a sales volume of 16,677 thousand sets in 2024. The region’s mature automotive industry and technological advancements position it as a key player in the market. The United States, with its strong automotive sector, is a significant contributor to this volume.
Europe
Europe follows closely with a projected sales volume of 16,160 thousand sets in 2024. The region’s strict safety regulations and a focus on vehicle electrification are driving factors for the demand for advanced steering columns system market.
Asia Pacific
Asia Pacific is identified as the largest regional market by sales volume, with an impressive forecast of 55,382 thousand sets in 2024. The region’s rapid economic growth, particularly in China and India, and the increasing production of vehicles are the primary reasons for its dominance.
South America
South America is projected to have a sales volume of 4,167 thousand sets in 2024. The region’s market is growing, albeit at a slower pace compared to Asia Pacific, with Brazil being a notable contributor to the market.
Middle East and Africa
The Middle East and Africa are expected to contribute 2,937 thousand sets in 2024. The region’s market is influenced by factors such as increasing vehicle production and the demand for safer and more comfortable driving experiences.
The fastest-growing region is Asia Pacific, driven by the rapid expansion of the automotive industry in China and India, as well as the increasing demand for passenger comfort and safety features in vehicles. The region’s growth is also attributed to the rising middle class and increasing disposable incomes, which have led to higher vehicle ownership rates.
Global Automotive Steering Columns System Market Sales Share by Region in 2024
6. Analysis of the Top Five Companies
The global automotive steering columns system market is characterized by the presence of several key players who contribute significantly to the industry’s growth and innovation.
JTEKT, established in 2006 and headquartered in Japan, is a leading manufacturer of steering systems and driveline components. The company offers a wide range of products, including the FujiKiko brand of manual steering columns, which are known for their reliability and precision. JTEKT’s commitment to innovation is evident in its development of new “ITCC for FR-based 4WD vehicles” and “Lightweight and Compact Motorized Rake Tilt & Telescopic Steering Column,” both of which have been adopted in Mazda’s CX-60.
Nexteer, with its roots dating back to 1906 and headquartered in the USA, is a prominent supplier of steering and driveline systems. The company’s product portfolio encompasses electric power steering, hydraulic power steering, steering columns, and advanced driver assistance systems. Nexteer’s expansion into new facilities in China and a technical center in Mexico reflects its commitment to growth and enhanced capabilities.
Bosch, founded in 1886 and based in Germany, is a renowned global supplier of technology and services. In the automotive sector, Bosch offers a variety of products, including steering columns that are designed for medium-sized and heavy commercial vehicles and buses. The company’s recent acquisition of U.S. chipmaker TSI Semiconductors and expansion in Mexico demonstrate its strategic moves to strengthen its semiconductor business and meet the rising demand for special semiconductors in electromobility.
ThyssenKrupp, established in 1999 and headquartered in Germany, operates as an industrial conglomerate with a broad range of offerings, including automotive component technology solutions. The company’s steering columns are known for their fixed columns, which are cost-optimized and used primarily in inexpensive passenger cars.
Mando, founded in 1962 and based in South Korea, specializes in the manufacturing and distribution of automotive parts and components. The company’s product range includes brake systems, suspension systems, steering systems, and driver assistance systems. Mando’s recent joint venture with China’s Tianrun Industrial Technology to produce electric power steering for commercial vehicles highlights its strategic expansion into new markets.
Major Players
| Company Name | Headquarters | Market Distribution |
| JTEKT | Japan | Worldwide |
| Nexteer | USA | Worldwide |
| Bosch | Germany | Worldwide |
| ThyssenKrupp | Germany | Worldwide |
| Mando | South Korea | Mainly in Europe, the Americas, Asia Pacific |
| NSK | Japan | Worldwide |
| Henglong | China | Mainly in Europe, the Americas, Asia Pacific |
| Hitachi Astemo | Japan | Mainly in Europe, the Americas, Asia Pacific |
| Namyang | South Korea | Mainly in Europe, the Americas, Asia Pacific |
| Yamada | Japan | Mainly in Europe, the Americas, Asia Pacific |