Comprehensive 2025 Heavy Duty Trucks Steering System Market Overview: Trends, Forecasts, and Growth Drivers

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What Is the Expected CAGR for the Heavy Duty Trucks Steering System Market Through 2025?
The market size of the heavy-duty truck steering system has seen robust growth in the past few years. It is expected to expand from $4.81 billion in 2024 to $5.11 billion in 2025, with a compound annual growth rate (CAGR) of 6.3%. Contributing factors to the growth during the historical period include an amplified focus on reducing vehicle weight for improved fuel efficiency, an increase in urbanization and infrastructure development, a growing preference for electric and hybrid heavy-duty trucks, escalating environmental concerns, and a heightened demand for vehicle safety features.

What's the Projected Size of the Global Heavy Duty Trucks Steering System Market by 2029?
The market size of the heavy duty trucks steering system is predicted to experience significant growth in the coming years, expected to reach $6.44 billion in 2029 with a compound annual growth rate (CAGR) of 5.9%. This projected growth during the forecasted period is linked to an increased demand for heavy-duty trucks within the logistics and transportation sectors, higher demand for fuel-efficient heavy-duty trucks, stringent government regulations on vehicle safety standards and performance, an increase in global trade and freight transportation, and an uptick in the adoption of autonomous and semi-autonomous vehicles. Key trends expected during this period include advancements in steering system component technology, progress in the development of electric power steering systems, innovations in the design and materials of steering systems, the availability of customized steering systems based on customer requirements, as well as the integration of steering systems with advanced driver assistance systems.

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Top Growth Drivers in the Heavy Duty Trucks Steering System Industry: What's Accelerating the Market?
The heavy-duty trucks steering system market is expected to experience significant growth due to the increasing need for effective logistics and transportation services. These services, which focus on the planning, coordination, and movement of goods from one place to another, are experiencing increased demand due to the boom in e-commerce. E-commerce has greatly escalated the need for reliable, quick, and extensive delivery networks to fulfil consumer demand. Steering systems in heavy-duty trucks aid logistics and transportation by improving vehicle control and manoeuvrability, leading to safer and efficient navigation even under difficult driving conditions. For instance, in June 2024, Logistics UK, a trade association based in the UK, reported that the logistics sector contributed $244 billion (£185 billion) in gross value added (GVA). This was in line with the revised 2021 figure of $211.6 billion (£160.2 billion). The study suggested that with the right investment, supportive policy measures, and efficient collaboration with the government, the logistics sector could increase UK's GDP by as much as $10.4 billion (£7.9 billion) each year through productivity gains by 2030. Thus, the increasing need for effective logistics and transportation services is set to fuel the growth of the heavy-duty trucks steering system market.

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What Trends Will Shape the Heavy Duty Trucks Steering System Market Through 2029 and Beyond?
Leading businesses in the heavy-duty trucks steering system market are concentrating their efforts on creating a modular rack-assist electric power steering (mREPS) system. This system, a kind of electric power steering (EPS) tech, aids the driver in rotating the steering wheel and is attached directly to the steering rack. Its defining feature is its flexible and expandable design. For instance, in April 2023, Nexteer Automotive, a company based in the US specializing in motion control technology, introduced its own mREPS system. This added to its roster of efficient, modular EPS solutions, and was a strategic move to offer automobile manufacturers a more adaptable, scalable, and efficient option especially for weightier vehicles like electric vehicles (EVs) and light commercial vehicles. By making use of Nexteer's pre-existing EPS foundational elements, the mREPS allows for quick adjustments to different vehicle designs, thus reducing both development time and cost for manufacturers. The system also includes custom-designed torque and position sensors for better, more precise steering management.

What Are the Main Segments in the Heavy Duty Trucks Steering System Market?
The heavy duty trucks steering system market covered in this report is segmented -

1) By Component Type: Steering Gear Boxes, Steering Columns, Power Steering Pumps, Steering Linkages, Steering Racks
2) By Technology: Hydraulic Power Steering, Electric Power Steering, Electro-Hydraulic Power Steering
3) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
4) By Application: Heavy Truck, Semi-Trailer Tractor, Other Applications
5) By End-User Industry: Construction, Logistics And Freight, Agriculture, Mining, Utilities

Subsegments:
1) By Steering Gear Boxes: Worm And Sector, Worm And Roller, Rack And Pinion, Recirculating Ball
2) By Steering Columns: Tilt Steering Column, Telescopic Steering Column, Rigid Steering Column, Collapsible Steering Column
3) By Power Steering Pumps: Vane Pumps, Roller Pumps, Gear Pumps, Electrically Assisted Pumps
4) By Steering Linkages: Pitman Arm, Idler Arm, Center Link, Tie Rods, Drag Link
5) By Steering Racks: Manual Steering Rack, Hydraulic Power Steering Rack, Electric Power Steering Rack, Electro-Hydraulic Power Steering Rack

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Which Top Companies are Driving Growth in the Heavy Duty Trucks Steering System Market?
Major companies operating in the heavy duty trucks steering system market are Robert Bosch GmbH, Denso Corporation, ZF Friedrichshafen AG, Thyssenkrupp AG, Continental AG, Hyundai Mobis Co., Magna International Inc., Mitsubishi Electric Corporation, Aisin Seiki Co. Ltd., Schaeffler AG, Parker Hannifin Corp., JTEKT Corporation, Dana Incorporated, NSK Ltd., HL Mando Corp., Nexteer Automotive, KYB Corporation, Haldex Ltd., China Automotive Systems Inc., Hitachi Astemo Americas Inc

Which Regions Will Dominate the Heavy Duty Trucks Steering System Market Through 2029?
North America was the largest region in the heavy duty trucks steering system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the heavy duty trucks steering system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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