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Automotive Steer-by-Wire System Market Share

Report ID: GMI12352
Published Date: Nov 2024
Report Format: PDF

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Automotive Steer-by-Wire System Company Market Share

Nexteer Automotive Group, JTEKT Corporation, and Robert Bosch collectively held a substantial market share of over 14% in the automotive steer-by-wire system industry in 2024. Nexteer is advancing its steer-by-wire (SbW) systems through the use of advanced software and electronic control units (ECUs). The company focuses on safety, driving performance, and customization, integrating SbW with advanced driver assistance systems (ADAS) and autonomous vehicle technology. Additionally, Nexteer collaborates with OEMs to deliver scalable solutions that reduce weight, enhance fuel efficiency, and improve vehicle maneuverability.

JTEKT is progressing its steer-by-wire technology by emphasizing reliability and safety, aiming to replace traditional mechanical linkages with electronic controls. The company integrates its SbW systems with ADAS to improve autonomous capabilities. JTEKT is also investing in R&D to optimize system response times, ensuring enhanced vehicle stability and precision while reducing overall weight for better fuel efficiency.

Robert Bosch is developing robust and flexible steer-by-wire solutions that prioritize safety and redundancy. The company integrates its SbW systems with AI and ADAS to support autonomous driving. Bosch leverages its expertise in electronics and software to enhance steering response and vehicle agility, while partnering with OEMs to customize SbW systems for electric and automated vehicles, aiming for widespread adoption.

Automotive Steer-by-Wire System Market Companies

Major players operating in the automotive steer-by-wire system industry are:

Continental
Denso Corporation
Hitachi Astemo
JTEKT Corporation
Magna International
Nexteer Automotive Group
Robert Bosch
ThyssenKrupp
Valeo
ZF Friedrichshafen

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of automotive steer-by-wire system reached USD 3.3 billion in 2024 and is set to grow at a 7.5% CAGR from 2025 to 2034, driven by the rise of autonomous and electric vehicles.

The passenger cars segment held around 72% of the market share in 2024, benefiting from the growing emphasis on vehicle electrification and autonomous driving.

The Asia Pacific market accounted for 40% of the revenue share in 2024 and is expected to exceed USD 2.5 billion by 2034, led by China's robust automotive industry and increasing adoption of electric and autonomous vehicles.

The key players in the industry include Continental, Denso Corporation, Hitachi Astemo, JTEKT Corporation, Magna International, Nexteer Automotive Group, Robert Bosch, ThyssenKrupp, Valeo, and ZF Friedrichshafen.