Evolving Market Trends In The Commercial Vehicle (CV) Active Power Steering Industry: New Innovations In Steering Technology Improve Vehicle Handling And Safety

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What Is the Expected Commercial Vehicle (CV) Active Power Steering Market Size During the Forecast Period?_x000D_
The market size of commercial vehicle (CV) active power steering has notably expanded in the last few years. The current predictions estimate that its worth will surge from $5.28 billion in 2024 to $5.78 billion in 2025, indicating an impressive compound annual growth rate (CAGR) of 9.5%. This considerable growth during the previous period can be traced back to an upswing in the production of commercial vehicles, an escalating requirement for driver safety features, the proliferation of the electric vehicle (EV) industry, an enhanced emphasis on vehicle maneuverability, and advancements in automobile manufacturing._x000D_
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In the forthcoming years, the commercial vehicle (CV) active power steering market is expected to experience robust growth. By 2029, it is projected to reach a market value of $8.24 billion, with a compound annual growth rate (CAGR) of 9.3%. The growth during the forecast period is due to factors such as heightened demand for driver comfort, an uptick in the use of electric and hybrid commercial vehicles, strict safety rules, increased demand for fuel-efficient vehicles, and an escalating focus on vehicle automation. The integration with advanced driver-assistance systems, application of artificial intelligence to steering control, the adoption of steer-by-wire technology, creation of lightweight steering parts, real-time data analytics for performance improvement, and linkage with telematics systems are some of the significant trends forecasted for this period._x000D_
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What Are the High-Growth Segments in the Commercial Vehicle (CV) Active Power Steering Market?_x000D_
The commercial vehicle (CV) active power steering market covered in this report is segmented -_x000D_
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1) By Type: Hydraulic Power Steering, Electric Power Steering, Electro-Hydraulic Power Steering_x000D_
2) By Technology: Steer-by-Wire, Variable Gear Ratio, Active Rear Steering_x000D_
3) By Equipment: Steering Racks, Steering Columns, Steering Wheels_x000D_
4) By Application: Light Commercial Vehicles (LCV), Medium Commercial Vehicles (MCV), Heavy Commercial Vehicles (HCV)_x000D_
5) By End User: Original Equipment Manufacturer (OEM), After market_x000D_
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Subsegments:_x000D_
1) By Hydraulic Power Steering: Fully Hydraulic Power Steering, Hydraulic Steering Gear, Hydraulic Steering Pumps, Hydraulic Actuators_x000D_
2) By Electric Power Steering: Column-Assisted Electric Power Steering (C-EPS), Rack-Assisted Electric Power Steering (R-EPS), Pinion-Assisted Electric Power Steering (P-EPS), Fully Electric Power Steering (F-EPS)_x000D_
3) By Electro-Hydraulic Power Steering: Electric-Hydraulic Steering Gear, Electric-Hydraulic Steering Pumps, Electro-Hydraulic Actuators, Hybrid Electric Power Steering Systems_x000D_
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What Key Drivers Are Expected to Influence Future Commercial Vehicle (CV) Active Power Steering Market Growth?_x000D_
The escalating need for fuel-efficient autos is predicted to push the expansion of the commercial vehicle (CV) active power steering market. Fuel-efficient autos, whether cars, trucks or other means of transiting, are engineered to utilise lesser fuel for the same distance as standard vehicles. The augmentation in these efficient vehicles is brought about by heightened fuel prices and escalating environmental concerns, as both consumers and administrations strive to cut down emissions and curb the total costs of transportation. Commercial vehicle (CV) active power steering elevates the efficacy of such vehicles by providing better steering accuracy and lesser energy usage, making these vehicles more manageable and competent. It aids in a smoother ride, adding to the total performance and saving fuel. For example, according to the France-based International Energy Agency, the sales of electric cars have been consistently on the rise, totaling 14 million (18%) in 2023, a significant increase from 3 million (4%) in 2020. Hence, the escalating demand for fuel-efficient vehicles is propelling the growth of the commercial vehicle (CV) active power steering market._x000D_
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Which Companies Hold the Largest Share Across Different Commercial Vehicle (CV) Active Power Steering Market Segments?_x000D_
Major companies operating in the commercial vehicle (CV) active power steering market are Robert Bosch GmbH, ZF Friedrichshafen AG, Thyssenkrupp AG, Continental AG, Hyundai Motor Company, Mitsubishi Electric Corporation, Schaeffler AG, Parker Hannifin Corporation, Infineon Technologies AG, JTEKT Corporation, Dana Inc., MAN Truck & Bus, NSK Ltd., Knorr-Bremse AG, Mando Corporation, Nexteer Automotive, Hitachi Astemo Ltd., Ognibene Power SpA, Delphi Technologies, Brogen EV Solution._x000D_
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What Trends Are Driving Growth in The Commercial Vehicle (CV) Active Power Steering Market?_x000D_
Leading enterprises in the commercial vehicle (CV) active power steering market are centering their efforts on adopting innovative technologies such as electric power steering technology. This is aimed at boosting fuel efficiency, reducing emissions, enhancing steering accuracy, and enabling autonomous driving functions. Electric power steering (EPS) technology employs an electric motor to aid the driver in steering the vehicle, instead of hydraulic fluid. This increases overall efficiency and facilitates integration with advanced driver assistance systems (ADAS). Take for example, in April 2025, Nexteer Automotive, a company from the US which specializes in steering and driveline technology, introduced a high-output column-assist electric power steering (HO CEPS). This system bolsters steering assist capacity to 110 Nm, making it suitable for use in larger and heavier vehicles, including those which traditionally need more complex steering systems._x000D_
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What Are the Emerging Geographies for The Commercial Vehicle (CV) Active Power Steering Market Growth?_x000D_
North America was the largest region in the commercial vehicle (CV) active power steering market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the commercial vehicle (CV) active power steering market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa._x000D_
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Frequently Asked Questions:_x000D_
1. What Is the Market Size and Growth Rate of the Commercial Vehicle (CV) Active Power Steering Market?_x000D_
2. What is the CAGR expected in the Commercial Vehicle (CV) Active Power Steering Market?_x000D_
3. What Are the Key Innovations Transforming the Commercial Vehicle (CV) Active Power Steering Industry?_x000D_
4. Which Region Is Leading the Commercial Vehicle (CV) Active Power Steering Market?_x000D_
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