Press Releases

The Global Automobile Steering and Suspension Market size was valued at USD 457 billion in 2023. It is likely to grow up to USD 720 billion by 2030 at a CAGR of 5.7% during the forecast period ranging between 2025 and 2030.

Automobile steering and suspension system controls the direction of the vehicle, while the suspension system reduces shocks and supports the weight. However, both systems together make the vehicle balanced and safe.  The supply chain disruptions and rising raw material prices is hampering the market growth. The major growth trend of the market is the expansion of electric and autonomous vehicles on the road. Precise steering and suspension are essential for electric and autonomous vehicles. The technology helps in improving stability and control in cornering and makes the ride comfortable and shock-free. 

Browse market data Tables and Figures spread through 140 Pages and in-depth TOC on Global Automobile Steering and Suspension Market By Type (Power Steering and Manual Steering), By Vehicle Type (Passenger Car, Light Commercial Vehicle and Heavy Commercial Vehicle), By Technology (Hydraulic, Electric Power Steering and Mechanical Steering), By End User and Aftermarket) and By Geography (North America, Europe, Asia Pacific, Rest of the World) - Forecast from 2025 to 2030.

Global Automobile Steering and Suspension Market Segmentation and Key Players

By type, power steering dominated the global automobile steering and suspension market 

Power steering dominates the segment due to improved Electric Power Steering (EPS) technology.

"North America dominates the global automobile steering and suspension market." 

North America dominates the Global Automobile Steering and Suspension Market due to technological innovation and strong aftermarket support.

Some of the major players in this market are ZF Friedrichshafen AG, Robert Bosch GmbH, Nexteer Automotive, JTEKT Corporation, NSK Ltd., KYB Corporation, Mando Corporation, Showa Corporation, Denso Corporation, Continental AG, Schaeffler AG, Thyssenkrupp AG, Hitachi Astemo Ltd., Tenneco Inc., Hyundai Mobis

Recent Developments By the Key Players

Nexteer Automotive has launched its Electro-Mechanical Brake (EMB) system. The Brake-by-Wire (BbW) solution replaces the traditional hydraulic braking components with electronic controls and actuators at each wheel. 

The Global Automobile Steering and Suspension Market report offers a comprehensive market segmentation analysis along with estimation for the forecast period 2025–2030.

Global Automobile Steering and Suspension Market coverage (By Value)

• Type Insight and Forecast 2025 - 2030
  • Power Steering
  • Manual Steering
• Vehicle Type Insight and Forecast 2025 - 2030
  • Passenger Car
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle
• Technology Insight and Forecast 2025 - 2030
  • Hydraulic
  • Electric Power Steering
  • Mechanical Steering
• End User Insight and Forecast 2025 - 2030
  • OEM
  • Aftermarket

Geographical Segmentation

Global Automobile Steering and Suspension Market by Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • South Korea
  • Vietnam
  • Thailand
  • Malaysia
  • Rest of Asia-Pacific
• Rest of the World (RoW)
  • Brazil
  • Saudi Arabia
  • South Africa
  • U.A.E.
  • Other Countries