Light Commercial Vehicle power steering Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Mechanism, By Component, By Region & Competition, 2021-2031F

Description

The Global Light Commercial Vehicle power steering Market will grow from USD 4.66 Billion in 2025 to USD 6.93 Billion by 2031 at a 6.84% CAGR. Light commercial vehicle power steering consists of hydraulic or electric mechanisms designed to assist drivers by reducing the physical effort required to maneuver vans and pickup trucks.

Market Overview
Forecast Period	2027-2031
Market Size 2025	USD 4.66 Billion
Market Size 2031	USD 6.93 Billion
CAGR 2026-2031	6.84%
Fastest Growing Segment	Hydraulic power steering (HPS)
Largest Market	Asia Pacific

Key Market Drivers

The increasing electrification of light commercial vehicle fleets is reshaping the power steering market, necessitating a shift from hydraulic systems to electric power steering (EPS) units. Unlike internal combustion engines, electric vans lack the mechanical power source required for hydraulic pumps, making EPS an essential component for platform compatibility and energy efficiency. This transition is further accelerated by the need to integrate advanced driver assistance systems (ADAS), which rely heavily on the electronic control capabilities of EPS to function effectively.

Key Market Challenges

The high production and integration costs associated with advanced electric power steering (EPS) systems present a substantial barrier to the growth of the Global Light Commercial Vehicle power steering Market. While these systems are essential for enabling modern fuel efficiency and driver-assistance features, their elevated price point compared to traditional hydraulic units creates a difficult economic hurdle. This price premium forces original equipment manufacturers in developing, price-competitive regions to retain cheaper, legacy steering technologies to maintain vehicle affordability. Consequently, the shift toward higher-value electric steering components is slowed, effectively capping the revenue potential for suppliers in these high-volume territories.

Key Market Trends

The adoption of Steer-by-Wire (SbW) technology is revolutionizing cabin design and maneuverability in the light commercial vehicle sector by eliminating the mechanical linkage between the steering wheel and road wheels. This digital architecture allows for retractable controls in delivery vans, optimizing interior workspace, and enables extreme wheel angles to significantly reduce turning radii in congested urban environments. The industrial validation of this technology is accelerating rapidly within the automotive supply chain.

Key Market Players

Robert Bosch GmbH
ZF Friedrichshafen AG
Nexteer Automotive
JTEKT Corporation
NSK Ltd.
Mando Corporation
Showa Corporation
Astemo Ltd.
Thyssenkrupp AG
Sona Koyo Steering Systems Ltd.

Report Scope:

In this report, the Global Light Commercial Vehicle power steering Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Light Commercial Vehicle power steering Market, By Mechanism:

Electronic power steering (EPS)
Hydraulic power steering (HPS) and Electro-Hydraulic Power Steering

Light Commercial Vehicle power steering Market, By Component:

Hydraulic Pump
Sensors
Electric Motor and other components

Light Commercial Vehicle power steering Market, By Region:

North America
United States
Canada
Mexico
Europe
France
United Kingdom
Italy
Germany
Spain
Asia Pacific
China
India
Japan
Australia
South Korea
South America
Brazil
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Light Commercial Vehicle power steering Market.

Available Customizations:

Global Light Commercial Vehicle power steering Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

1. Product Overview

1.1. Market Definition
1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Light Commercial Vehicle power steering Market Outlook

5.1. Market Size & Forecast
- 5.1.1. By Value
5.2. Market Share & Forecast
- 5.2.1. By Mechanism (Electronic power steering (EPS), Hydraulic power steering (HPS) and Electro-Hydraulic Power Steering)
- 5.2.2. By Component (Hydraulic Pump, Sensors, Electric Motor and other components)
- 5.2.3. By Region
- 5.2.4. By Company (2025)
5.3. Market Map

6. North America Light Commercial Vehicle power steering Market Outlook

6.1. Market Size & Forecast
- 6.1.1. By Value
6.2. Market Share & Forecast
- 6.2.1. By Mechanism
- 6.2.2. By Component
- 6.2.3. By Country
6.3. North America: Country Analysis
- 6.3.1. United States Light Commercial Vehicle power steering Market Outlook
  - 6.3.1.1. Market Size & Forecast
    - 6.3.1.1.1. By Value
  - 6.3.1.2. Market Share & Forecast
    - 6.3.1.2.1. By Mechanism
    - 6.3.1.2.2. By Component
- 6.3.2. Canada Light Commercial Vehicle power steering Market Outlook
  - 6.3.2.1. Market Size & Forecast
    - 6.3.2.1.1. By Value
  - 6.3.2.2. Market Share & Forecast
    - 6.3.2.2.1. By Mechanism
    - 6.3.2.2.2. By Component
- 6.3.3. Mexico Light Commercial Vehicle power steering Market Outlook
  - 6.3.3.1. Market Size & Forecast
    - 6.3.3.1.1. By Value
  - 6.3.3.2. Market Share & Forecast
    - 6.3.3.2.1. By Mechanism
    - 6.3.3.2.2. By Component

7. Europe Light Commercial Vehicle power steering Market Outlook

7.1. Market Size & Forecast
- 7.1.1. By Value
7.2. Market Share & Forecast
- 7.2.1. By Mechanism
- 7.2.2. By Component
- 7.2.3. By Country
7.3. Europe: Country Analysis
- 7.3.1. Germany Light Commercial Vehicle power steering Market Outlook
  - 7.3.1.1. Market Size & Forecast
    - 7.3.1.1.1. By Value
  - 7.3.1.2. Market Share & Forecast
    - 7.3.1.2.1. By Mechanism
    - 7.3.1.2.2. By Component
- 7.3.2. France Light Commercial Vehicle power steering Market Outlook
  - 7.3.2.1. Market Size & Forecast
    - 7.3.2.1.1. By Value
  - 7.3.2.2. Market Share & Forecast
    - 7.3.2.2.1. By Mechanism
    - 7.3.2.2.2. By Component
- 7.3.3. United Kingdom Light Commercial Vehicle power steering Market Outlook
  - 7.3.3.1. Market Size & Forecast
    - 7.3.3.1.1. By Value
  - 7.3.3.2. Market Share & Forecast
    - 7.3.3.2.1. By Mechanism
    - 7.3.3.2.2. By Component
- 7.3.4. Italy Light Commercial Vehicle power steering Market Outlook
  - 7.3.4.1. Market Size & Forecast
    - 7.3.4.1.1. By Value
  - 7.3.4.2. Market Share & Forecast
    - 7.3.4.2.1. By Mechanism
    - 7.3.4.2.2. By Component
- 7.3.5. Spain Light Commercial Vehicle power steering Market Outlook
  - 7.3.5.1. Market Size & Forecast
    - 7.3.5.1.1. By Value
  - 7.3.5.2. Market Share & Forecast
    - 7.3.5.2.1. By Mechanism
    - 7.3.5.2.2. By Component

8. Asia Pacific Light Commercial Vehicle power steering Market Outlook

8.1. Market Size & Forecast
- 8.1.1. By Value
8.2. Market Share & Forecast
- 8.2.1. By Mechanism
- 8.2.2. By Component
- 8.2.3. By Country
8.3. Asia Pacific: Country Analysis
- 8.3.1. China Light Commercial Vehicle power steering Market Outlook
  - 8.3.1.1. Market Size & Forecast
    - 8.3.1.1.1. By Value
  - 8.3.1.2. Market Share & Forecast
    - 8.3.1.2.1. By Mechanism
    - 8.3.1.2.2. By Component
- 8.3.2. India Light Commercial Vehicle power steering Market Outlook
  - 8.3.2.1. Market Size & Forecast
    - 8.3.2.1.1. By Value
  - 8.3.2.2. Market Share & Forecast
    - 8.3.2.2.1. By Mechanism
    - 8.3.2.2.2. By Component
- 8.3.3. Japan Light Commercial Vehicle power steering Market Outlook
  - 8.3.3.1. Market Size & Forecast
    - 8.3.3.1.1. By Value
  - 8.3.3.2. Market Share & Forecast
    - 8.3.3.2.1. By Mechanism
    - 8.3.3.2.2. By Component
- 8.3.4. South Korea Light Commercial Vehicle power steering Market Outlook
  - 8.3.4.1. Market Size & Forecast
    - 8.3.4.1.1. By Value
  - 8.3.4.2. Market Share & Forecast
    - 8.3.4.2.1. By Mechanism
    - 8.3.4.2.2. By Component
- 8.3.5. Australia Light Commercial Vehicle power steering Market Outlook
  - 8.3.5.1. Market Size & Forecast
    - 8.3.5.1.1. By Value
  - 8.3.5.2. Market Share & Forecast
    - 8.3.5.2.1. By Mechanism
    - 8.3.5.2.2. By Component

9. Middle East & Africa Light Commercial Vehicle power steering Market Outlook

9.1. Market Size & Forecast
- 9.1.1. By Value
9.2. Market Share & Forecast
- 9.2.1. By Mechanism
- 9.2.2. By Component
- 9.2.3. By Country
9.3. Middle East & Africa: Country Analysis
- 9.3.1. Saudi Arabia Light Commercial Vehicle power steering Market Outlook
  - 9.3.1.1. Market Size & Forecast
    - 9.3.1.1.1. By Value
  - 9.3.1.2. Market Share & Forecast
    - 9.3.1.2.1. By Mechanism
    - 9.3.1.2.2. By Component
- 9.3.2. UAE Light Commercial Vehicle power steering Market Outlook
  - 9.3.2.1. Market Size & Forecast
    - 9.3.2.1.1. By Value
  - 9.3.2.2. Market Share & Forecast
    - 9.3.2.2.1. By Mechanism
    - 9.3.2.2.2. By Component
- 9.3.3. South Africa Light Commercial Vehicle power steering Market Outlook
  - 9.3.3.1. Market Size & Forecast
    - 9.3.3.1.1. By Value
  - 9.3.3.2. Market Share & Forecast
    - 9.3.3.2.1. By Mechanism
    - 9.3.3.2.2. By Component

10. South America Light Commercial Vehicle power steering Market Outlook

10.1. Market Size & Forecast
- 10.1.1. By Value
10.2. Market Share & Forecast
- 10.2.1. By Mechanism
- 10.2.2. By Component
- 10.2.3. By Country
10.3. South America: Country Analysis
- 10.3.1. Brazil Light Commercial Vehicle power steering Market Outlook
  - 10.3.1.1. Market Size & Forecast
    - 10.3.1.1.1. By Value
  - 10.3.1.2. Market Share & Forecast
    - 10.3.1.2.1. By Mechanism
    - 10.3.1.2.2. By Component
- 10.3.2. Colombia Light Commercial Vehicle power steering Market Outlook
  - 10.3.2.1. Market Size & Forecast
    - 10.3.2.1.1. By Value
  - 10.3.2.2. Market Share & Forecast
    - 10.3.2.2.1. By Mechanism
    - 10.3.2.2.2. By Component
- 10.3.3. Argentina Light Commercial Vehicle power steering Market Outlook
  - 10.3.3.1. Market Size & Forecast
    - 10.3.3.1.1. By Value
  - 10.3.3.2. Market Share & Forecast
    - 10.3.3.2.1. By Mechanism
    - 10.3.3.2.2. By Component

11. Market Dynamics

11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. Global Light Commercial Vehicle power steering Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Robert Bosch GmbH
- 15.1.1. Business Overview
- 15.1.2. Products & Services
- 15.1.3. Recent Developments
- 15.1.4. Key Personnel
- 15.1.5. SWOT Analysis
15.2. ZF Friedrichshafen AG
15.3. Nexteer Automotive
15.4. JTEKT Corporation
15.5. NSK Ltd.
15.6. Mando Corporation
15.7. Showa Corporation
15.8. Astemo Ltd.
15.9. Thyssenkrupp AG
15.10. Sona Koyo Steering Systems Ltd.