Electric Vehicle Steering System Market Size is USD 5,125.48 Million by 2025

Electric Vehicle Steering System Market (By Type: Electric Power Steering and Steer-by-wire; By Application: BEV and PHEV; By Region: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) Industry Size, Share, Growth, Trends 2025 to 2034

Stats ID: 8746 | Delivery Format: Databook | Tables and Figures: 40+ | Last Updated: September 2025 | Delivery: Immediate

The global electric vehicle steering system market, valued at USD 4,351 million in 2024, is projected to reach USD 22,389.38 million by 2034, growing at a 17.8% CAGR as the adoption of electric vehicles and advanced steering technologies continues to rise.

Electric Vehicle Steering System Market Statical Scope

Reports Attributes	Statistics
Market Size in 2024	USD 4,351 Million
Market Size in 2025	USD 4,351 Million
Market Size in 2031	USD 13,696.39 Million
Market Size by 2034	USD 22,389.38 Million
CAGR 2025 to 2034	17.8%
Base Year	2024
Forecast Period	2025 to 2034

Electric Vehicle Steering System Market Companies

JTEKT
Bosch
Nexteer
ZF
NSK
Hitachi Astemo
Hyundai Mobis
Thyssenkrupp
HL Mando
CAAS
Zhuzhou Elite
Yubei
Zhejiang Shibao

Electric Vehicle Steering System Market Segmentation

By Type

Electric Power Steering
Steer-by-wire

By Application

BEV
PHEV

By Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Published by Ajit Bansod

Global Market Revenue

Electric Vehicle Steering System Market Revenue, By Type 2024 to 2034 (USD Million)

Subsegment	2024	2025	2026	2027	2028	2029	2030	2031	2032	2033	2034
Electric Power Steering	3,480.80	4,100.38	4,830.25	5,690.04	6,702.86	7,895.97	9,301.45	10,957.11	12,907.48	15,205.01	17,911.50
Steer-by-wire	870.20	1,025.10	1,207.56	1,422.51	1,675.72	1,973.99	2,325.36	2,739.28	3,226.87	3,801.25	4,477.88

Electric Vehicle Steering System Market Revenue, By Application 2024 to 2034 (USD Million)

Subsegment	2024	2025	2026	2027	2028	2029	2030	2031	2032	2033	2034
BEV	3,045.70	3,587.83	4,226.47	4,978.78	5,865.00	6,908.97	8,138.77	9,587.47	11,294.04	13,304.38	15,672.56
PHEV	1,305.30	1,537.64	1,811.34	2,133.76	2,513.57	2,960.99	3,488.05	4,108.92	4,840.30	5,701.88	6,716.81

Electric Vehicle Steering System Market Revenue, By Region 2024 to 2034 (USD Million)

Subsegment	2024	2025	2026	2027	2028	2029	2030	2031	2032	2033	2034
North America	1,522.85	1,793.92	2,113.23	2,489.39	2,932.50	3,454.49	4,069.39	4,793.74	5,647.02	6,652.19	7,836.28
Asia Pacific	1,305.30	1,537.64	1,811.34	2,133.76	2,513.57	2,960.99	3,488.05	4,108.92	4,840.30	5,701.88	6,716.81
Europe	1,087.75	1,281.37	1,509.45	1,778.14	2,094.64	2,467.49	2,906.70	3,424.10	4,033.59	4,751.57	5,597.34
Latin America	217.55	256.27	301.89	355.63	418.93	493.50	581.34	684.82	806.72	950.31	1,119.47
Middle East and Africa	217.55	256.27	301.89	355.63	418.93	493.50	581.34	684.82	806.72	950.31	1,119.47

Global Market Revenue

Electric Vehicle Steering System Market Revenue, By Type 2024 to 2034 (USD Billion)

Subsegment	2024	2025	2026	2027	2028	2029	2030	2031	2032	2033	2034
Electric Power Steering	3,480.80	4,100.38	4,830.25	5,690.04	6,702.86	7,895.97	9,301.45	10,957.11	12,907.48	15,205.01	17,911.50
Steer-by-wire	870.20	1,025.10	1,207.56	1,422.51	1,675.72	1,973.99	2,325.36	2,739.28	3,226.87	3,801.25	4,477.88

Electric Vehicle Steering System Market Revenue, By Application 2024 to 2034 (USD Billion)

Subsegment	2024	2025	2026	2027	2028	2029	2030	2031	2032	2033	2034
BEV	3,045.70	3,587.83	4,226.47	4,978.78	5,865.00	6,908.97	8,138.77	9,587.47	11,294.04	13,304.38	15,672.56
PHEV	1,305.30	1,537.64	1,811.34	2,133.76	2,513.57	2,960.99	3,488.05	4,108.92	4,840.30	5,701.88	6,716.81

Electric Vehicle Steering System Market Revenue, By Region 2024 to 2034 (USD Billion)

Subsegment	2024	2025	2026	2027	2028	2029	2030	2031	2032	2033	2034
North America	1,522.85	1,793.92	2,113.23	2,489.39	2,932.50	3,454.49	4,069.39	4,793.74	5,647.02	6,652.19	7,836.28
Asia Pacific	1,305.30	1,537.64	1,811.34	2,133.76	2,513.57	2,960.99	3,488.05	4,108.92	4,840.30	5,701.88	6,716.81
Europe	1,087.75	1,281.37	1,509.45	1,778.14	2,094.64	2,467.49	2,906.70	3,424.10	4,033.59	4,751.57	5,597.34
Latin America	217.55	256.27	301.89	355.63	418.93	493.50	581.34	684.82	806.72	950.31	1,119.47
Middle East and Africa	217.55	256.27	301.89	355.63	418.93	493.50	581.34	684.82	806.72	950.31	1,119.47

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Electric Vehicle Steering System Market Size is USD 5,125.48 Million by 2025

Electric Vehicle Steering System Market Statical Scope

Electric Vehicle Steering System Market Companies

Electric Vehicle Steering System Market Segmentation

By Type

By Application

By Region

Global Market Revenue

Electric Vehicle Steering System Market Revenue, By Type 2024 to 2034 (USD Million)

Electric Vehicle Steering System Market Revenue, By Application 2024 to 2034 (USD Million)

Electric Vehicle Steering System Market Revenue, By Region 2024 to 2034 (USD Million)

Global Market Revenue

Electric Vehicle Steering System Market Revenue, By Type 2024 to 2034 (USD Billion)

Electric Vehicle Steering System Market Revenue, By Application 2024 to 2034 (USD Billion)

Electric Vehicle Steering System Market Revenue, By Region 2024 to 2034 (USD Billion)

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