Automotive Steering System Market Size, Share And Trends 2022-2027

Automotive Steering System Market

Market Overview 2022-2027

The latest research study “Automotive Chassis Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global automotive chassis systems market reached a value of US$ 80.14 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 112.02 Billion by 2027, exhibiting a CAGR of 5.60% during 2022-2027.

Covid-19 Impact:

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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Industry Definition and Application:

An automotive chassis system is a load-bearing frame that supports the vehicle parts and offers a grip to the steering and suspension system. It comprises a power-suspension system, an engine, a structurally independent frame, and brakes. It is created using ferrous metal, cast iron, steel, and magnesium alloy, which offers strength and support to various vehicular components while keeping automobiles rigid and stiff. As a result, automotive chassis systems are widely employed in light commercial vehicles (LCV), agricultural equipment, heavy commercial vehicles (HCV), passenger vehicles, and construction equipment.

Global Automotive Chassis Systems Market Trends and Drivers: 

The market is primarily driven by the rising product adoption in the automotive industry due to its light, ductile, and aerodynamic properties, which also enhance the safety of the vehicle. In addition, various technological advancements, such as the introduction of naturally weighted electric-assist steering and dynamic chassis mode, represent another growth-inducing factor. Moreover, various manufacturers are extensively adopting modular and compact chassis systems due to the escalating demand for electric vehicles (EVs), which is providing a positive thrust to the market growth.

Apart from this, the market is also propelled by the implementation of several government initiatives to control carbon emissions. Along with this, the increasing demand for low emission and fuel-efficient vehicles over conventional internal combustion vehicles is positively influencing the market growth. Furthermore, key market players are investing in research and development (R&D) activities, chassis designing, and manufacturing processes to strengthen their market foothold, which is also creating a positive market outlook across the globe.

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Automotive Chassis Systems Market Report Scope

Report Coverage


Market size value in 2021

US$ 80.14 Billion

Market forecast in 2027

US$ 112.02 Billion

Growth Rate

CAGR of 5.60% from 2022 to 2027

Base year for estimation


Historical data


Forecast period


Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Component, Chassis System, Vehicle Type and Region

Regional scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa

Key companies profiled

Aisin Corporation, American Axle & Manufacturing Inc, Autokiniton US Holdings Inc., Benteler International AG, Continental AG, Gestamp Automoción S.A., Hyundai Mobis Co. Ltd, Magna International Inc, Robert Bosch GmbH, Schaeffler AG and ZF Friedrichshafen AG.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization preview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Component:

  • Control Arms
  • Tie-Rods
  • Stabilizer Links
  • Suspension Ball Joints
  • Cross-Axis Joints
  • Knuckles and Hubs
  • Others

Breakup by Chassis System:

  • Rear Axle
  • Front Axle
  • Corner Modules
  • Active Kinematics Control
  • Others

Breakup by Vehicle Type:

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Construction Equipment Vehicles
  • Defense Vehicles
  • Others

By Geography:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

List of Major Key Players:

The major players in the market are Aisin Corporation, American Axle & Manufacturing Inc, Autokiniton US Holdings Inc., Benteler International AG, Continental AG, Gestamp Automoción S.A., Hyundai Mobis Co. Ltd, Magna International Inc, Robert Bosch GmbH, Schaeffler AG and ZF Friedrichshafen AG.

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