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Motor vehicle electrical and electronic components are crucial elements that regulate electricity within vehicles, drawing power from batteries and redistributing it through the system. Meanwhile, steering, suspension, and interior components collectively ensure a comfortable ride, support the vehicle's weight, and enhance its handling, drivability, and on-road stability by controlling its direction.

The primary types encompass motor vehicle electrical and electronic equipment, steering and suspension components (excluding springs), motor vehicle seating, and interior trim. Electrical and electronic equipment in vehicles primarily involve electronic parts, serving applications in both passenger and commercial vehicles. These components find usage in Original Equipment Manufacturers (OEMs) as well as aftermarket installations.

The motor vehicle electrical & electronic equipment, steering, suspension, & interiors market research report is one of a series of new reports from The Business Research Company that provides motor vehicle electrical & electronic equipment, steering, suspension, & interiors industry global market size, regional shares, competitors with a motor vehicle electrical & electronic equipment, steering, suspension, & interiors market share, detailed motor vehicle electrical & electronic equipment, steering, suspension, & interiors market segments, market trends and opportunities, and any further data you may need to thrive in the motor vehicle electrical & electronic equipment, steering, suspension, & interiors industry. This motor vehicle electrical and electronic equipment, steering, suspension, and interiors 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.

The motor vehicle electrical & electronic equipment, steering suspension, & interiors market size has grown strongly in recent years. It will grow from $548.07 billion in 2024 to $602.79 billion in 2025 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to automotive innovation, consumer demand for features, fuel efficiency, safety and driver assistance systems, infotainment systems, globalization of automotive industry.

The motor vehicle electrical & electronic equipment, steering suspension, & interiors market size is expected to see strong growth in the next few years. It will grow to $856.98 billion in 2029 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to electric and hybrid vehicle growth, smart interiors, sustainable and recyclable materials, adaptive suspension systems, energy-efficient electrical systems, cybersecurity in vehicles. Major trends in the forecast period include advanced driver assistance systems (ADAS), augmented reality (AR) displays, lightweight materials in suspension systems, electronic stability control (esc), and advanced interior lighting systems.

Advances in technology are expected to continue driving growth in the market for motor vehicle electrical and electronic equipment, steering suspension, and interior components in the forecast period. The global transport manufacturing industry has seen significant technological innovations over the past decade, and this trend is set to accelerate. For instance, in April 2024, Li Auto Inc., a China-based motor vehicle manufacturer, launched the Li L6, a five-seat premium family SUV. It features a dual-motor all-wheel-drive system that delivers a maximum power of 300 kW (approximately 408 horsepower). The vehicle is equipped with a four-screen interaction system powered by the Qualcomm Snapdragon 8295P chip, offering a seamless infotainment experience. Additionally, the Li L6 Max includes dual Orin-X chips that provide 508 TOPS, enabling advanced pilot-assisted driving capabilities in urban environments.

The increasing adoption of electric and hybrid vehicles is expected to be a significant catalyst for the expansion of the motor vehicle electrical and electronic equipment, steering, suspension, and interior markets in the coming years. Electric vehicles (EVs) are powered by one or more electric motors, relying on either a collection system, external electricity sources, or batteries. Hybrid vehicles, on the other hand, combine different power sources, such as an internal combustion engine (ICE) and an electric motor. The shift towards electric and hybrid vehicles necessitates the integration of advanced electrical and electronic components, including batteries, electric power steering, and electronic control units (ECUs). Notably, in the second quarter of 2023, hybrid, plug-in hybrid, and battery-powered vehicles accounted for 16% of light-duty auto sales in the United States, as reported by the Energy Information Administration. This accelerating adoption of electric and hybrid vehicles serves as a driving force behind the growth of the motor vehicle electrical and electronic equipment, steering, suspension, and interior markets.

The growing demand for electric vehicles is reshaping the automotive value chain, introducing disruptions and opportunities. Electric vehicle engines are less intricate, requiring fewer replacement parts over their lifespan compared to traditional gasoline engines. The electrification of cars necessitates adaptations in components such as air-conditioning units, water pumps, brakes, and steering systems to meet electric car requirements. With electric vehicles having significantly fewer components than internal combustion engine (ICE) cars, the need for collaboration between automakers and parts suppliers is reduced. This shift allows parts suppliers greater autonomy in product development. An EY report suggests that the transformation to electric vehicles in India may impact existing automobile spare part sales due to the lower number of moving parts in electric vehicles.

Leading companies in the motor vehicle electrical and electronic equipment, steering, suspension, and interior markets are concentrating on innovation to cater to evolving consumer needs. Rear-wheel steering systems have emerged as a key focus area for these companies. In August 2023, Schaeffler Group, a German company specializing in automotive steering and bearings, unveiled a Mechatronic rear-wheel steering system. This groundbreaking system, featuring a planetary roller gear, is the world's first of its kind and enhances agility on curves, inner-city adaptability, and lane-change stability for a renowned electric SUV produced by a leading vehicle manufacturer. Schaeffler's innovative technology provides steering capabilities to the back axle, significantly improving handling in city traffic and making parking easier.

Major companies operating in the motor vehicle electrical & electronic equipment, steering suspension, & interiors market include SAIC Motor Corporation Limited, FCA Fiat Chrysler Automobiles, Hyundai Motor Company, Robert Bosch GmbH, Peugeot S.A., Denso Corporation, Continental Aktiengesellschaft, Magna International Inc., Faurecia S.E., Valeo S.A., Lear Corporation, Tenneco Inc., Aptiv plc, Nidec Corporation, BorgWarner Inc., Infineon Technologies AG, Adient plc, Mahle GmbH, Toyota Boshoku Corporation, Magneti Marelli S.p.A., Autoliv Inc., Omron Corporation, Mando Corporation, GKN Automotive Limited, Alpine Electronics Inc., Nexteer Automotive, Visteon Corporation, Calsonic Kansei Corporation, Panasonic Automotive Systems, HGM Automotive Electronics, Pioneer Corporation, Toyoda Gosei Co. Ltd., Yanfeng Automotive Interiors

Asia-Pacific was the largest region in the motor vehicle electrical & electronic equipment, steering, suspension, & interiors market in 2024. North America was the second largest market in motor vehicle electrical & electronic equipment, steering, suspension, & interiors market. The regions covered in the motor vehicle electrical & electronic equipment, steering suspension, & interiors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the motor vehicle electrical & electronic equipment, steering suspension, & interiors market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.

The motor vehicle electrical & electronic equipment, steering suspension, & interiors market consist of sales of motor vehicles and internal combustion engines, motor vehicle steering mechanisms and suspension components, or motor vehicle seating, seats, seat frames, seat belts, and interior trimmings. 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.

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.

Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on motor vehicle electrical & electronic equipment, steering suspension, & interiors market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Where is the largest and fastest growing market for motor vehicle electrical & electronic equipment, steering suspension, & interiors ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The motor vehicle electrical & electronic equipment, steering suspension, & interiors market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.

Scope

Table of Contents

1. Executive Summary

2. Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market Characteristics

3. Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market Trends And Strategies

4. Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics And Covid And Recovery On The Market

5. Global Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Growth Analysis And Strategic Analysis Framework

6. Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market Segmentation

7. Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market Regional And Country Analysis

8. Asia-Pacific Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

9. China Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

10. India Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

11. Japan Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

12. Australia Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

13. Indonesia Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

14. South Korea Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

15. Bangladesh Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

16. Thailand Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

17. Vietnam Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

18. Malaysia Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

19. Singapore Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

20. Philippines Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

21. Hong Kong Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

22. New Zealand Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

23. Western Europe Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

24. UK Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

25. Germany Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

26. France Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

27. Italy Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

28. Spain Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

29. Spain Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

30. Austria Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

31. Belgium Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

32. Denmark Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

33. Finland Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

34. Ireland Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

35. Netherlands Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

36. Norway Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

37. Portugal Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

38. Sweden Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

39. Switzerland Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

40. Eastern Europe Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

41. Russia Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

42. Czech Republic Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

43. Poland Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

44. Romania Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

45. Ukraine Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

46. North America Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

47. USA Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

48. Canada Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

50. South America Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

51. Brazil Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

52. Chile Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

53. Argentina Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

54. Colombia Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

55. Peru Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

56. Middle East Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

57. Saudi Arabia Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

58. Israel Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

59. Iran Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

60. Turkey Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

61. United Arab Emirates Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

62. Africa Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

63. Egypt Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

64. Nigeria Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

65. South Africa Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

66. Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market Competitive Landscape And Company Profiles

67. Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market Other Major And Innovative Companies

68. Global Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market Competitive Benchmarking And Dashboard

69. Key Mergers And Acquisitions In The Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

70. Recent Developments In The Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market

71. Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market High Potential Countries, Segments and Strategies

72. Appendix

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