Automotive Steering System Market Size, Share, Growth, Trends and Forecast 2027
The automotive steering system market was valued at USD 35.3 billion in 2022 and is expected to reach USD 39.5 billion by 2027, at a CAGR of 2.3% over the forecast period 2022–2027. With emissions standards becoming more stringent automotive electrification is imminent. The rapid adoption of Electric Vehicles (EVs) worldwide creates a huge demand for Electrical Power Steering (EPS) and steer-by-wire...
Automotive Steering System Market Size, Share, Trends & Industry Forecast 2027
Automotive Steering System market is projected to grow from USD 35.3 Billion in 2022 to USD 39.5 Billion by 2027, at a CAGR of 2.3% over the forecast period. Growing adoption of EVs, penetration of passenger cars, and an overall increase in vehicle production would fuel the demand for steering systems, especially EPS systems, in the coming years. Also, advancements in autonomous vehicles is expected...