Motor Vehicle Steering and Suspension Components Market Report 2026

Motor Vehicle Steering and Suspension Components Market Overview

• Motor Vehicle Steering and Suspension Components market size has reached to $106.82 billion in 2025 • Expected to grow to $155.41 billion in 2030 at a compound annual growth rate (CAGR) of 8% • Growth Driver: Growth Of The Automotive Industry Contribute To The Growth Of Motor Vehicle Steering System And Suspension Components Market • Market Trend: Innovative Vehicle Steering And Suspension Components Transforming The Market • Asia-Pacific was the largest region in 2025 and Western Europe is the fastest growing region.

What Is Covered Under Motor Vehicle Steering and Suspension Components Market?

The motor vehicle steering system, which consists of several pieces and linkages, enables a driver to direct a vehicle. A motor vehicle's suspension system helps the driver maintain total control while isolating the passengers from vibrations caused by the vehicle's passage over the road's contours. The main types of motor vehicle steering and suspension components are steering components and suspension components. Steering components refer to a system of components, linkages, etc. that will allow a vehicle to follow the desired course. The applications included are commercial vehicles and passenger cars. The end-users involved are OEM and aftermarket.

What Is The Motor Vehicle Steering and Suspension Components Market Growth Forecast?

The motor vehicle steering and suspension components market size is expected to see strong growth in the next few years. It will grow to $155.41 billion in 2030 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to electric vehicle architecture changes, autonomous driving requirements, comfort optimization demand, advanced materials adoption, commercial vehicle growth. Major trends in the forecast period include increasing adoption of electric power steering, growing demand for advanced suspension systems, integration of lightweight steering components, rising focus on ride comfort and handling, expansion of aftermarket suspension upgrades.

Global Motor Vehicle Steering and Suspension Components Market Segmentation

1) By Type: Steering Components, Suspension Components 2) By Application: Commercial Vehicle, Passenger Car 3) By End Use: OEM, Aftermarket Subsegments: 1) By Steering Components: Steering Gearboxes, Steering Columns, Power Steering Pumps, Tie Rods, Steering Knuckles 2) By Suspension Components: Control Arms, Shock Absorbers, Ball Joints, Stabilizer Bars, Bushings

What Is The Driver Of The Motor Vehicle Steering and Suspension Components Market?

The growth of the automotive industry is expected to propel the growth of the motor vehicle steering system and suspension components market going forward. The automotive industry, also known as the automobile industry, refers to the sector of the economy that is involved in the design, development, manufacturing, marketing, and sales of motor vehicles. Motor vehicle steering and suspension components are essential elements in an automobile's overall functionality and safety. These components play critical roles in ensuring vehicle stability, control, and comfort. For instance, in July 2023, according to an article published by Economic Times, an India-based e-magazine, significant technological progress in electric vehicles, autonomous driving, connectivity, the adoption of digital sales channels, the expansion of the pre-owned car market, and a strong emphasis on safety measures are reshaping the industry's growth trajectory, thereby revolutionizing transportation in urban and rural areas alike. It is also estimated that, with the current progress, India in the electric vehicle market will provide a $ 206 billion potential by 2030. Therefore, the growth of the automotive industry is driving the growth of the soap and cleaning products market.

What Is The Driver Of The Motor Vehicle Steering and Suspension Components Market?

The growth of the automotive industry is expected to propel the growth of the motor vehicle steering system and suspension components market going forward. The automotive industry, also known as the automobile industry, refers to the sector of the economy that is involved in the design, development, manufacturing, marketing, and sales of motor vehicles. Motor vehicle steering and suspension components are essential elements in an automobile's overall functionality and safety. These components play critical roles in ensuring vehicle stability, control, and comfort. For instance, in July 2023, according to an article published by Economic Times, an India-based e-magazine, significant technological progress in electric vehicles, autonomous driving, connectivity, the adoption of digital sales channels, the expansion of the pre-owned car market, and a strong emphasis on safety measures are reshaping the industry's growth trajectory, thereby revolutionizing transportation in urban and rural areas alike. It is also estimated that, with the current progress, India in the electric vehicle market will provide a $ 206 billion potential by 2030. Therefore, the growth of the automotive industry is driving the growth of the soap and cleaning products market.

Global Motor Vehicle Steering and Suspension Components Market Trends and Insights

Major companies operating in the motor vehicle steering and suspension components market are introducing innovative vehicle steering and suspension components Adaptive Air Suspension System and Active Rear Steering system to gain a competitive edge in the market. The Air Suspension System offers a softer, more isolated ride for greater ride quality, whereas The Active Rear Steering system offers up to 3.5 degrees of out-of-phase rear steering. For instance, in October 2023, General Motors, a US-based automobile manufacturing company launched Adaptive Air Suspension system and Active Rear Steering system for its Cadillac CELESTIQ model of its cars. The Adaptive Air Suspension System uses an air suspension system, rather than the coiled springs used in a traditional suspension system. The Active Rear Steering system in its CELESTIQ model provides a maximum of 3.5 degrees of rear steering that operates out-of-phase, meaning the rear wheels will turn in the opposite direction of the front wheels, enhancing maneuverability at low speeds. When traveling at higher speeds, the rear wheels will turn in-phase with the front wheels.

What Are Latest Mergers And Acquisitions In The Motor Vehicle Steering and Suspension Components Market?

In April 2023, Lear Corporation, a US-based global automotive technology leader in Seating and E-Systems acquired I.G. Bauerhin (IGB) for an undisclosed amount. The acquisition of I.G. Bauerhin (IGB) further expanding the company’s suite of in-vehicle comfort technologies that includes vehicle steering and suspension components and other key components of various kinds of vehicles. I.G. Bauerhin (IGB) is a Poland-based manufacturer and supplier of components and materials in vehicle interiors such as steering wheel heaters and sensors, seat heaters, electronic modules, and other components.

Regional Outlook

Asia-Pacific was the largest region in the motor vehicle steering and suspension component market in 2025. Western Europe was the second largest market in global motor vehicle steering and suspension component market share. The regions covered in this market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in this market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain

What Defines the Motor Vehicle Steering and Suspension Components Market?

The motor vehicle steering, and suspension components market consist of sales of steering systems, wheels and tires, springs, shock absorbers and struts, linkages, bushings, bearings, and joints. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What Key Data and Analysis Are Included in the Motor Vehicle Steering and Suspension Components Market Report 2026?

The motor vehicle steering and suspension components market research report is one of a series of new reports from The Business Research Company that provides market statistics, including industry global market size, regional shares, competitors with the market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the motor vehicle steering and suspension components industry. The market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.