Steering Column System Market to Hit USD 19.8 Billion by 2032 | Driven by 5.4% CAGR and EV Integration Surge
Global Steering Column System Market continues to demonstrate strong growth, with its valuation reaching USD 12.3 billion in 2024 . According to the latest industry analysis, the market is projected to grow at a CAGR of 5.4% , reaching approximately USD 19.8 billion by 2032 . This growth is largely fueled by increasing vehicle production, electrification trends, and rising demand for advanced driver-assistance systems (ADAS) across all vehicle segments. Steering column systems are fundamental vehicle components that connect the steering wheel to the steering mechanism while providing safety features, comfort adjustments, and increasingly, integration with vehicle electronics. Their evolution from simple mechanical links to sophisticated mechatronic systems reflects the automotive industry's technological progress, particularly in electric and autonomous vehicle development. Market Overview & Regional Analysis Asia-Pacific dominates the global steering column market with a 42% ...