The Rise In Electric Vehicle Adoption Driving The Growth Of The Market Due To Environmental Concerns And Technological Integration: Powering Innovation and Expansion in the Global Automotive Steering-Mounted Electronics Market by 2025

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What Is the Expected CAGR for the Automotive Steering-Mounted Electronics Market Through 2025?
The market for electronics mounted on automotive steering systems has experienced significant growth lately. The market is expected to expand from $5.08 billion in 2024 to $5.54 billion in 2025, at a compound annual growth rate (CAGR) of 9.1%. The rise during the historical period can be credited to factors such as growing preference for electronic power steering systems, more stringent safety rules regarding driver assistance systems, increasing demand for high-end and luxury vehicles, escalated production of compact and mid-size cars, as well as the growing need for replacing and retrofitting in older vehicles.

What's the Projected Size of the Global Automotive Steering-Mounted Electronics Market by 2029?
The market size for electronics mounted on automotive steering is projected to experience a significant increase in the upcoming years. The market is predicted to reach a value of $7.78 billion in 2029, growing at a compound annual growth rate (CAGR) of 8.9%. Factors contributing to this surge during the forecasted period include the escalating prevalence of electric and hybrid vehicles, increasing need for touch and haptic feedback controls, a growing emphasis on connected and smart cars, enhanced usage of personalized steering interfaces, and heightened consumer curiosity in multifunction steering wheels. Driving out major trends within this period are activities such as creating electric power steering modules, developing steering wheel-based driver monitoring systems, integration with advanced driver assistance systems, innovation in steering wheel material and design, and upgrades in haptic and tactile feedback systems.

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Top Growth Drivers in the Automotive Steering-Mounted Electronics Industry: What's Accelerating the Market?
The surge in acceptance of electric vehicles is anticipated to fuel the expansion of the automotive steering-mounted electronics market in the future. Electric Vehicles (EVs), which operate solely or partially on rechargeable battery electricity rather than standard internal combustion engines, are increasingly being embraced due to environmental considerations. They emit fewer greenhouse gases and cut down on air pollution, unlike their traditional counterparts. Steering-mounted electronics augment vehicles, providing intuitive controls, enhancing driver safety, and allowing for the seamless incorporation of state-of-the-art infotainment and energy-efficient systems. For example, Cox Automotive, an American software firm, reported in January 2025 that sales of electric vehicles in 2023 had been revised upwards to 1,212,758 units, signifying a 49% rise from 2022. They maintained their growth trajectory into 2024, increasing by 7.3% to touch 1,301,411 units. Thus, the growing acceptance of electric vehicles is bolstering the expansion of the automotive steering-mounted electronics market.

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What Trends Will Shape the Automotive Steering-Mounted Electronics Market Through 2029 and Beyond?
Prominent firms active in the automotive steering-mounted electronics market are concentrating on the creation of novel features, such as the steer-by-wire system, with the aim of availing better safety and comfort for drivers. The steer-by-wire mechanism is a modern steering approach that supersedes the standard mechanical link between the steering wheel and the vehicle's wheels with sensors, actuators, and electronic control apparatuses. For example, in August 2025, Hella GmbH And Co. KGaA, a manufacturing organization based in Germany, introduced the third generation of its comprehensive electric steer-by-wire steering sensor system. This was done with the aim of enhancing accuracy, security, and electronic control in contemporary vehicles. This system deviates from the conventional mechanical steering by deploying electronic sensors, actuators, and control modules for bridging the gap between the steering wheel and the wheels. It presents a customizable steering experience, decreased weight, and amplified flexibility in vehicle design. Additionally, it promotes safety via backup power and communication systems, aids advanced driving modes and autonomous functionalities, and improves driver comfort by reducing road vibrations and allowing dynamic steering alterations as per speed and driving situations.

What Are the Main Segments in the Automotive Steering-Mounted Electronics Market?
The automotive steering-mounted electronics market covered in this report is segmented as

1) By Component: Steering Angle Sensor, Steering Wheel Control Module, Steering Column Control Module, Steering Wheel Angle Sensor, Steering Torque Sensor
2) By Product Type: Control Buttons, Touchpads, Scroll Wheels, Other Product Types
3) By Technology: Wired, Wireless
4) By Application: Passenger Vehicles, Commercial Vehicles
5) By Sales Channel: Original Equipment Manufacturer, Aftermarket

Subsegments:
1) By Steering Angle Sensor: Absolute Sensor, Incremental Sensor, Potentiometric Sensor, Optical Sensor
2) By Steering Wheel Control Module: Audio Control Module, Cruise Control Module, Voice Command Module, Multi Function Control Module
3) By Steering Column Control Module: Electronic Lock Module, Tilt And Telescopic Control Module, Ignition Switch Control Module, Steering Position Control Module
4) By Steering Wheel Angle Sensor: Magnetic Sensor, Optical Sensor, Hall Effect Sensor, Capacitive Sensor
5) By Steering Torque Sensor: Piezoelectric Sensor, Strain Gauge Sensor, Magnetoresistive Sensor, Hall Effect Sensor

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Which Top Companies are Driving Growth in the Automotive Steering-Mounted Electronics Market?
Major companies operating in the automotive steering-mounted electronics market are Robert Bosch GmbH, Panasonic Corporation, Denso Corporation, Continental Aktiengesellschaft, ZF Friedrichshafen Aktiengesellschaft, thyssenkrupp Aktiengesellschaft, Hyundai Mobis Co. Ltd., Mitsubishi Electric Corporation, Valeo Société Anonyme (S.A.), JTEKT Corporation, Harman International Industries Incorporated, SKF AB, Hella GmbH And Co. KGaA, Toyoda Gosei Co. Ltd., Alps Alpine Co. Ltd., NSK Ltd., Tokai Rika Co. Ltd., Nexteer Automotive Group Limited., Johnson Electric Holdings Limited., Delphi Technologies PLC

Which Regions Will Dominate the Automotive Steering-Mounted Electronics Market Through 2029?
Asia-Pacific was the largest region in the automotive steering-mounted electronics market in 2024. The regions covered in automotive steering-mounted electronics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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