PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1758105
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1758105
Global Commercial Vehicle Steering Systems Market to Reach US$16.4 Billion by 2030
The global market for Commercial Vehicle Steering Systems estimated at US$13.2 Billion in the year 2024, is expected to reach US$16.4 Billion by 2030, growing at a CAGR of 3.6% over the analysis period 2024-2030. Electronic Power Steering System, one of the segments analyzed in the report, is expected to record a 3.1% CAGR and reach US$8.3 Billion by the end of the analysis period. Growth in the Electro-Hydraulic Power Steering System segment is estimated at 4.0% CAGR over the analysis period.
The U.S. Market is Estimated at US$3.6 Billion While China is Forecast to Grow at 6.6% CAGR
The Commercial Vehicle Steering Systems market in the U.S. is estimated at US$3.6 Billion in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$3.3 Billion by the year 2030 trailing a CAGR of 6.6% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.5% and 2.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.1% CAGR.
Global Commercial Vehicle Steering Systems Market - Key Trends & Drivers Summarized
How Are Technological Shifts Reshaping Commercial Vehicle Steering Architectures?
The commercial vehicle steering systems market is witnessing a transition from traditional hydraulic mechanisms to advanced electronically assisted systems. Historically reliant on hydraulic power steering (HPS) for torque multiplication and directional control, the industry is gradually shifting toward electric power steering (EPS) and electro-hydraulic steering (EHPS) technologies. These newer systems reduce mechanical complexity, enhance energy efficiency, and enable intelligent steering functions through electronic control units (ECUs). EPS systems, in particular, eliminate the need for power steering pumps and fluid reservoirs, resulting in lighter, more fuel-efficient vehicles with improved packaging flexibility.
Moreover, steer-by-wire technology-previously limited to conceptual stages-is beginning to gain traction in commercial applications. By replacing the mechanical linkages with electronic inputs, steer-by-wire systems allow for adaptive and responsive steering behavior based on real-time road and load conditions. These systems are pivotal for autonomous and semi-autonomous driving features, as they facilitate precise path control and redundancy in safety-critical scenarios. Integration with telematics platforms further supports remote diagnostics, usage-based maintenance, and performance optimization across large fleets. The move toward electrified and digitally governed steering platforms is revolutionizing how heavy vehicles are maneuvered, controlled, and maintained.
What Impact Do End-Use Demands and Vehicle Categories Have on Steering System Evolution?
Steering system requirements vary widely based on the type and function of the commercial vehicle, driving differentiated engineering and component design. In heavy-duty trucks used for long-haul freight, systems must prioritize driver comfort, steering accuracy, and stability at highway speeds. This has led to the adoption of variable steering ratios and torque-sensitive systems that adapt to load and road conditions. For city buses, refuse trucks, and urban delivery vans, tight turning radii and low-speed maneuverability are critical, prompting the deployment of integrated rear axle steering systems and compact steering actuators.
The increase in articulated vehicles and multi-axle configurations-especially in construction and mining sectors-has also created demand for multi-mode steering systems. These allow coordinated movement of multiple axles, improving safety and control in off-road or tight access conditions. Additionally, the growth of connected fleets and autonomous testing programs is influencing steering architectures to include fail-operational design, dual-motor redundancy, and feedback-less steering wheel modules that simulate road feel electronically. These advancements are closely linked to the demand for higher precision, safety, and responsiveness in both manually and autonomously operated vehicles across diverse applications.
How Do Emerging Innovations and Electrification Trends Influence Market Dynamics?
Steering systems are increasingly being tailored for electric commercial vehicles (ECVs), where powertrain architecture necessitates rethinking conventional component layouts. In ECVs, the absence of engine-driven hydraulic pumps makes electric power steering not just preferred but essential. As battery-electric and fuel-cell trucks scale up in the marketplace, OEMs are developing compact, energy-efficient steering modules that are compatible with electric chassis layouts. Additionally, the need to reduce parasitic losses and improve energy consumption profiles further reinforces the shift toward electric and steer-by-wire solutions.
The evolution of autonomous driving systems (ADS) is another game-changing factor. Level 2 and higher automation demands real-time coordination between sensors, control software, and actuators, with steering systems playing a central role in lane keeping, obstacle avoidance, and trajectory planning. Advanced steering control units are now designed to receive inputs from AI-powered driver assistance platforms, enabling dynamic lane centering, remote maneuvering, and geofenced steering restrictions. As vehicle autonomy becomes more mainstream, steering systems are increasingly functioning as digital interfaces rather than purely mechanical linkages, redefining their role within the overall vehicular ecosystem.
What Are the Key Growth Drivers Shaping the Future of Steering Systems in Commercial Vehicles?
The growth in the commercial vehicle steering systems market is driven by several factors centered on electrification, autonomous mobility, and evolving end-use demands. First, the accelerated adoption of electric commercial vehicles has made EPS and steer-by-wire systems indispensable, as they align better with battery-driven architectures and enable greater energy efficiency. Second, the expanding footprint of autonomous and semi-autonomous technologies across commercial fleets has made it imperative to integrate intelligent, responsive, and electronically controlled steering systems.
Third, increasing urbanization and regulatory requirements for driver comfort and maneuverability in congested areas are propelling demand for variable-ratio and rear-axle steering systems. These enhance agility and safety, particularly in city logistics and public transport. Additionally, the digitization of fleet management is pushing manufacturers to offer steering systems equipped with real-time monitoring, diagnostics, and adaptability features. Finally, the rise of modular and customizable vehicle platforms across OEMs is fueling the need for scalable, software-compatible steering architectures that can be tailored to a wide array of commercial applications-from last-mile delivery vans to heavy-duty, long-haul trucks.
SCOPE OF STUDY:
The report analyzes the Commercial Vehicle Steering Systems market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Product Type (Electronic Power Steering System, Electro-Hydraulic Power Steering System, Hydraulic Power Steering System); Application (Light Commercial Vehicles Application, Medium & Heavy Commercial Vehicles Application)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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