Global Automotive Steering-Mounted Electronics Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By Technology;

Electric Power Steering (EPS), Hydraulic Power Steering (HPS), Electro-Hydraulic Power Steering (EHPS), Steer-by-Wire (SBW) and Magnetic/Electromagnetic Power Steering.

By Component;

Steering Angle Sensor, Steering Wheel Control Module, Steering Column Control Module, Steering Wheel Angle Sensor and Steering Torque Sensor.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn137877081 Published Date: May, 2024 Updated Date: June, 2024

Introduction

Global Automotive Steering-Mounted Electronics Market (USD Million), 2020 - 2030

In the year 2023, the Global Automotive Steering-Mounted Electronics Market was valued at USD xx.x million. The size of this market is expected to increase to USD xx.x million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of x.x%.

The global automotive steering-mounted electronics market has seen significant growth over recent years, driven by advancements in automotive technology and the increasing demand for enhanced driving experiences. Steering-mounted electronics, which include controls for audio systems, cruise control, phone connectivity, and various driver-assistance features, have become standard in many vehicles. These systems not only enhance convenience for drivers but also improve safety by allowing drivers to operate essential functions without taking their hands off the steering wheel.

Technological innovations are a major driver of this market. The integration of advanced features such as voice control, touch-sensitive buttons, and haptic feedback mechanisms has improved the usability and functionality of steering-mounted electronics. Additionally, the rise of connected cars, which rely on sophisticated infotainment and communication systems, has further fueled the demand for advanced steering-mounted electronics. Automakers are continuously collaborating with tech companies to develop next-generation steering systems that can seamlessly integrate with other in-car technologies.

The market is also influenced by the increasing emphasis on vehicle safety and regulatory requirements. Many countries have implemented stringent regulations to ensure that vehicles are equipped with safety features that minimize driver distraction. Steering-mounted controls are seen as a crucial component in achieving this objective, as they allow drivers to maintain focus on the road while accessing various in-car functionalities. This regulatory push has encouraged automotive manufacturers to prioritize the development and integration of advanced steering-mounted electronics.

Regionally, the market dynamics vary, with North America and Europe leading in terms of technology adoption due to the presence of major automotive manufacturers and a high demand for premium vehicles. Asia-Pacific, however, is emerging as a significant market due to the rapid growth of the automotive industry in countries like China and India. The increasing purchasing power and the shift towards more feature-rich vehicles in these regions are expected to drive substantial growth in the steering-mounted electronics market. Overall, the global automotive steering-mounted electronics market is poised for robust expansion, propelled by technological advancements, regulatory support, and evolving consumer preferences.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Technology
    2. Market Snapshot.By Component
    3. Market Snapshot, By Region
  4. Global Automotive Steering-Mounted Electronics Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Rising consumer electronics integration
        2. Increasing demand for safety
        3. Advancements in technology
        4. Growing automotive industry
        5. Enhanced driving experience
      2. Restraints
        1. High production costs
        2. Complex installation processes
        3. Limited skilled workforce
        4. Cybersecurity and privacy concerns
        5. Strict regulatory standards
      3. Opportunities
        1. Emerging electric vehicle market
        2. Expansion in developing regions
        3. Innovations in AI technology
        4. Growing autonomous vehicle adoption
        5. Enhanced connectivity features
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Automotive Steering-Mounted Electronics Market, By Technology, 2020 - 2030 (USD Million)
      1. Electric Power Steering (EPS)
      2. Hydraulic Power Steering (HPS)
      3. Electro-Hydraulic Power Steering (EHPS)
      4. Steer-by-Wire (SBW)
      5. Magnetic/Electromagnetic Power Steering
    2. Global Automotive Steering-Mounted Electronics Market, By Component, 2020 - 2030 (USD Million)
      1. Steering Angle Sensor
      2. Steering Wheel Control Module
      3. Steering Column Control Module
      4. Steering Wheel Angle Sensor
      5. Steering Torque Sensor
    3. Global Automotive Steering-Mounted Electronics Market, By Geography, 2020 - 2030 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Bosch
      2. Valeo
      3. Continental AG
      4. Denso Corporation
      5. Aptiv PLC
      6. Panasonic Corporation
      7. ZF Friedrichshafen AG
      8. Mitsubishi Electric Corporation
      9. TRW Automotive Holdings Corp. (acquired by ZF Friedrichshafen AG)
      10. Alps Alpine Co., Ltd.
      11. Hella GmbH & Co. KGaA
      12. Delphi Technologies (now part of Aptiv PLC)
      13. JTEKT Corporation
      14. Nexteer Automotive
      15. NSK Ltd.
  7. Analyst Views
  8. Future Outlook of the Market