Product Code: 16620
The Global Medium & Heavy Commercial Vehicle Power Steering Market will grow from USD 8.87 Billion in 2025 to USD 14.92 Billion by 2031 at a 9.05% CAGR. The Global Medium & Heavy Commercial Vehicle Power Steering Market encompasses hydraulic, electro-hydraulic, and electric assisting systems designed to reduce driver effort and ensure directional stability in large trucks and buses.
| Market Overview |
| Forecast Period | 2027-2031 |
| Market Size 2025 | USD 8.87 Billion |
| Market Size 2031 | USD 14.92 Billion |
| CAGR 2026-2031 | 9.05% |
| Fastest Growing Segment | Electronic Power Steering |
| Largest Market | Asia Pacific |
Key Market Drivers
The Expansion of Global Logistics and Freight Transportation Networks acts as a primary catalyst for the medium and heavy commercial vehicle power steering market. As international trade volumes rise, logistics providers are compelled to upgrade and expand their fleets to handle heavier payloads over longer distances, directly increasing the manufacturing demand for robust steering systems that ensure maneuverability and safety under high-load conditions.
Key Market Challenges
The cyclical nature of the commercial vehicle industry represents a significant restraint on the medium and heavy commercial vehicle power steering market. Economic fluctuations often dictate fleet renewal budgets, causing logistics operators to delay capital expenditures during periods of financial uncertainty. When economic conditions weaken, fleet owners frequently choose to extend the lifecycle of their current assets rather than purchasing new trucks and buses. This reduction in demand for new vehicles forces original equipment manufacturers to scale back production targets, which directly decreases the volume of orders for essential components such as hydraulic and electric power steering systems.
Key Market Trends
The Commercial Adoption of Steer-by-Wire Technology is fundamentally altering the Global Medium & Heavy Commercial Vehicle Power Steering Market by replacing traditional mechanical columns with digital command interfaces. This shift removes physical linkages between the steering wheel and road wheels, thereby enabling highly flexible cabin designs and reducing vibration transmission to the driver. The technology is rapidly gaining traction as a prerequisite for next-generation software-defined vehicles, particularly in the Asian and North American markets where digitalization is a priority.
Key Market Players
- JTEKT corporation
- ZF Friedrichshafen AG
- Robert Bosch GmbH
- Nexteer Automotive Corporation
- NSK Ltd.
- Mitsubishi Electric Corporation
- HL Mando Corp.
- Hyundai Mobis
- Hitachi Astemo, Ltd.
- Thyssenkrupp AG
Report Scope:
In this report, the Global Medium & Heavy Commercial Vehicle Power Steering Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Medium & Heavy Commercial Vehicle Power Steering Market, By Mechanism:
- Electronic power steering (EPS)
- Hydraulic power steering (HPS) and Electro-Hydraulic Power Steering
Medium & Heavy Commercial Vehicle Power Steering Market, By Component:
- Hydraulic Pump
- Sensors
- Electric Motor and other components
Medium & Heavy 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 Medium & Heavy Commercial Vehicle Power Steering Market.
Available Customizations:
Global Medium & Heavy 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:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
Table of Contents
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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 5.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 6.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 6.3.1.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 6.3.2.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 6.3.3.1. Market Size & Forecast
- 6.3.3.2. Market Share & Forecast
- 6.3.3.2.1. By Mechanism
- 6.3.3.2.2. By Component
7. Europe Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 7.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 7.3.1.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 7.3.2.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 7.3.3.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 7.3.4.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 7.3.5.1. Market Size & Forecast
- 7.3.5.2. Market Share & Forecast
- 7.3.5.2.1. By Mechanism
- 7.3.5.2.2. By Component
8. Asia Pacific Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 8.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 8.3.1.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 8.3.2.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 8.3.3.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 8.3.4.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 8.3.5.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 9.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 9.3.1.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 9.3.2.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 9.3.3.1. Market Size & Forecast
- 9.3.3.2. Market Share & Forecast
- 9.3.3.2.1. By Mechanism
- 9.3.3.2.2. By Component
10. South America Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 10.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 10.3.1.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 10.3.2.1. Market Size & Forecast
- 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 Medium & Heavy Commercial Vehicle Power Steering Market Outlook
- 10.3.3.1. Market Size & Forecast
- 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 Medium & Heavy 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. JTEKT corporation
- 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. Robert Bosch GmbH
- 15.4. Nexteer Automotive Corporation
- 15.5. NSK Ltd.
- 15.6. Mitsubishi Electric Corporation
- 15.7. HL Mando Corp.
- 15.8. Hyundai Mobis
- 15.9. Hitachi Astemo, Ltd.
- 15.10. Thyssenkrupp AG
16. Strategic Recommendations
17. About Us & Disclaimer