Medium Duty Truck Steering System Market Insights 2025-2034: Growth Forecast and Strategic Priorities

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Medium Duty Truck Steering System Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent years, the market size for medium duty truck steering system has experienced significant growth. From $2.99 billion in 2024, it is projected to reach $3.17 billion in 2025, fostering a compound annual growth rate (CAGR) of 6.1%. The historical growth can be associated with the emergence of connected vehicle technologies, escalated requirements for fuel efficiency, a heightened demand for dependable transportation solutions, a surge in electric trucks, and an expansion in construction and infrastructure.

Medium Duty Truck Steering System Market Size Forecast: What's the Projected Valuation by 2029?
The market size for medium-duty truck steering systems is forecasted to expand significantly in the coming years, reaching $3.98 billion in 2029 with a compound annual growth rate (CAGR) of 5.9%. This momentum during the forecasted period is a result of heightened demand on medium-duty trucks, a growing need for trustworthy and efficient transport solutions, the proliferation of e-commerce, increased transport volumes, and an uptick in the use of electric medium-duty trucks. The future trends for the period include state-of-the-art steering technologies, a shift towards electric and automated steering systems, innovative technologies, transition towards steer-by-wire technology, and sophisticated sensor fusion technologies.

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What Are the Drivers Transforming the Medium Duty Truck Steering System Market?
The medium-duty truck steering system market is expected to grow due to the rising demand for fuel-efficient vehicles. These vehicles, which consume less fuel over a particular distance than standard automobiles, are becoming increasingly popular due to their potential for reducing fuel costs and offering significant long-term savings. Medium-duty truck steering systems contribute to fuel efficiency by minimizing steering effort and enhancing vehicle handling. This optimizes energy usage and decreases engine load, thereby improving fuel economy. For example, data from the Energy Information Administration, a US government agency, showed that the combined market share of hybrid, plug-in hybrid electric, and battery electric vehicles (BEVs) in total new light-duty vehicle sales in the US increased from 19.1% in the second quarter of 2024 to 21.2% in the third quarter of the same year. Consequently, the rise in demand for fuel-efficient vehicles is propelling growth in the medium-duty truck steering system market.

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What Long-Term Trends Will Define the Future of the Medium Duty Truck Steering System Market?
Key players in the medium-duty truck steering system market are prioritizing the development of innovative solutions such as modular steering to heighten cost-efficiency, scalability, and compatibility with leading-edge vehicle technologies. Modular steering implies a versatile, scalable steering system design that can be adapted or personalized for various vehicle platforms through shared components and design features. For instance, in August 2024, Nexteer Automotive, a U.S. technology firm, unveiled the modular pinion-assist electric power steering (EPS) system, which now covers all significant EPS architectures. This updated system contains a cost-efficient, scalable solution that encompasses both single-pinion and dual-pinion configurations. It can be used with all propulsion forms, which consist of electric, hybrid, and internal combustion engine vehicles. The system enhances driver satisfaction by minimizing noise, vibration, and harshness (NVH) levels. Its modular configuration paves the way for increased flexibility and efficiency in the integration of vehicle platforms.

Which Segments in the Medium Duty Truck Steering System Market Offer the Most Profit Potential?
The medium duty truck steering system market covered in this report is segmented -

1) By Type: Hydraulic Power Steering (HPS), Electric Power Steering (EPS), Electro-Hydraulic Power Steering (EHPS)
2) By Product: Steering Columns, Steering Gear, Steering Pumps, Steering Sensors, Steering Motors
3) By Technology: Power Steering, Manual Steering, Steer-By-Wire
4) By Application: Construction And Mining, Freight And logistics, Other Applications
5) By End User: Original Equipment Manufacturer (OEMs), Aftermarket, Fleet Owners

Subsegments:
1) By Hydraulic Power Steering System (HPS): Integral Steering System, Linkage Type Steering System
2) By Electric Power Steering System (EPS): Column Assist Type, Pinion Assist Type, Rack Assist Type
3) By Electro-Hydraulic Power Steering System (EHPS): Belt-Driven Electro-Hydraulic Power Steering System, Direct-Drive Hydraulic Power Steering System

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Which Firms Dominate the Medium Duty Truck Steering System Market by Market Share and Revenue in 2025?
Major companies operating in the medium duty truck steering system market are Mitsubishi Motors Corporation , Robert Bosch GmbH, Nissan Motor Co Ltd., Hyundai Mobis Co Ltd., ZF Friedrichshafen AG, Thyssenkrupp AG, Schaeffler AG, Infineon Technologies AG, Nidec Corporation, JTEKT Corporation, Danfoss A/S, Knorr-Bremse AG, NSK Ltd., Mando Corporation, Wiley, Showa Corporation, UD Trucks Corporation, Allient Inc., Nexteer Automotive Corporation, Delphi Technologies PLC

Which Regions Offer the Highest Growth Potential in the Medium Duty Truck Steering System Market?
North America was the largest region in the medium duty truck steering system market in 2024. Asia-Pacific is expected to be the leading region in the forecast period. The regions covered in the medium duty truck steering system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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