Steer‐By‐Wire Market Forecast Driven by Advanced Vehicle Control and Electric Mobility Demand | Valuates Reports

Steer By Wire - Market Size
The global market for Steer By Wire was estimated to be worth US$ 3108.5 million in 2023 and is forecast to a readjusted size of US$ 6509.5 million by 2030 with a CAGR of 11.7% during the forecast period 2024-2030

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The steer by wire market is gaining significant momentum, propelled by the accelerating shift toward electric and autonomous vehicles and the demand for precision control systems. By removing the mechanical linkage between steering wheel and wheels, steer by wire enables improved driver immersion, faster system response, and customizable steering dynamics-capabilities that align closely with next generation vehicle architectures.

Market size is expanding as original equipment manufacturers integrate steer by wire systems into electric cars, trucks, and specialized mobility platforms. These systems reduce mechanical complexity, enhance vehicle packaging flexibility, and enable intelligent features such as lane keeping assistance, haptic feedback, and adaptive steering feel-critical in both fully autonomous and premium electric vehicle segments.

Market trends include the development of redundant digital control architectures and fail safe systems to meet automotive safety standards. Modular system designs are gaining traction, facilitating easier integration with vehicle electronics and centralized domain controllers. This integration streamlines production and allows for software driven calibration and performance updates.

In terms of market share, key automotive suppliers and technology firms are forming partnerships with OEMs to deliver turnkey steer by wire solutions. The early deployments in high end electric models and luxury vehicles are expanding to broader midsize and light commercial vehicle segments, particularly as regulatory frameworks evolve to accommodate electronic steering systems.

The market forecast remains positive. As more regions promote electric mobility and autonomy, steer by wire adoption is projected to grow in parallel-especially where safety, efficiency, and system flexibility are valued. Adoption will accelerate with the validation of redundant architectures and greater consumer acceptance.

In conclusion, the steer by wire market is poised for sustained growth. With increasing market size, advancing market trends toward electrification and autonomy, and a favorable market forecast, this technology is set to become a foundation for future vehicle steering architectures.

Segment by Type:
• EPS
• SBW

Segment by Application

• Commercial Vehicle
• Passenger Car

By Company

Bosch, Continental, Schaeffler, Nexteer, ZF, Bethel, Mando, NSK, JTEKT, ADVICS, Shanghai Nasen Automotive Electronics, Ningbo Tuopu Group, Global Technology, Zhejiang Vie Science and Technology, Beijing Trinova Technology, Tongyu Automotive, Great Wall Motor, Huayu Automotive Systems Company

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