Increasing Demand For Fuel-Efficient Vehicles Fueling The Growth Of The Market Due To Rising Fuel Costs And Environmental Concerns: The Driving Engine Behind Commercial Vehicle (CV) Active Power Steering Market Evolution in 2025

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Commercial Vehicle (CV) Active Power Steering Market Size Growth Forecast: What to Expect by 2025?
Recent years have seen a robust expansion in the commercial vehicle (cv) active power steering market. The market, which stood at $5.28 billion in 2024, is predicted to reach $5.71 billion in 2025, marking a compound annual growth rate (CAGR) of 8.1%. The market's growth during the historic period was driven by factors such as the increase in commercial vehicle production, a rising demand for driver safety features, the growth of the Electric Vehicle (EV) market, a heightened focus on vehicle maneuverability, and advancements in automotive manufacturing.

How Will the Commercial Vehicle (CV) Active Power Steering Market Size Evolve and Grow by 2029?
The size of the commercial vehicle (cv) active power steering market is anticipated to experience substantial growth in the forthcoming years, culminating in a $8 billion estimation by 2029, with a compound annual growth rate (CAGR) of 8.8%. Factors contributing to this predicted growth over the forecast period include increasing needs for driver comfort, higher usage of electric and hybrid commercial cars, stricter safety norms, rising requirements for fuel efficiency, and the expanding emphasis on vehicle automation. Prevailing trends for the forecast period involve integration with sophisticated driver-assistance systems, steering control facilitated by artificial intelligence, the adoption of steer-by-wire technology, creation of lighter steering components, data analytics in real-time for performance betterment, and the inclusion of connectivity with telematics systems.

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What Drivers Are Propelling the Growth of Commercial Vehicle (CV) Active Power Steering Market Forward?
Escalating requirements for fuel-efficient vehicles are projected to boost the expansion of the commercial vehicle (CV) active power steering market. Fuel-efficient vehicles, including cars, trucks, or other forms of transport, are engineered to consume less fuel for alike journey distance in contrast with traditional vehicles. The surge in such vehicles is attributed to rising fuel expenses and increased environmental worries as both consumers and authorities strive to curtail emissions and minimize overall transportation costs. Commercial vehicle (CV) active power steering optimizes fuel-efficient vehicles, offering enhanced steering precision and lower energy usage, thus making them more effective and easy to handle. It facilitates smoother driving trajectories, adding to comprehensive vehicle performance and fuel economy. According to the International Energy Agency, a France-based international organization, electric car sales have exhibited consistent growth, hitting 14 million (18%) in 2023, from 3 million (4%) in 2020, as of May 2024. Hence, the boosted demand for fuel-efficient vehicles creates a drive towards the expansion of the commercial vehicle (CV) active power steering market.

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What Long-Term Trends Will Define the Future of the Commercial Vehicle (CV) Active Power Steering Market?
Big firms in the commercial vehicle (CV) active power steering market, such as Nexteer Automotive, are shifting their focus towards the adoption of cutting-edge technologies. One key technology they're exploring is electric power steering (EPS), which enhances fuel economy, trims down emissions, refines steering accuracy, and supports self-driving features. Unlike the traditional hydraulic fluid-based approach, the EPS technology employs an electric motor to assist the driver in maneuvering the vehicle. Not only does this improve efficiency, but it also allows for smooth integration with advanced driver assistance systems (ADAS). Illustratively, in April 2025, Nexteer Automotive, renowned for its steering and driveline technologies, rolled out its high-output column-assist electric power steering (HO CEPS). This cutting-edge system bolsters steering assist capacity to 110 Nm, making it suitable even for larger, heavier vehicles that once required more sophisticated steering mechanisms.

What Are the Key Segments in the Commercial Vehicle (CV) Active Power Steering Market?
The commercial vehicle (cv) active power steeringmarket covered in this report is segmented -

1) By Type: Hydraulic Power Steering, Electric Power Steering, Electro-Hydraulic Power Steering
2) By Technology: Steer-by-Wire, Variable Gear Ratio, Active Rear Steering
3) By Equipment: Steering Racks, Steering Columns, Steering Wheels
4) By Application: Light Commercial Vehicles (LCV), Medium Commercial Vehicles (MCV), Heavy Commercial Vehicles (HCV)
5) By End User: Original Equipment Manufacturer (OEM), Aftermarket

Subsegments:
1) By Hydraulic Power Steering: Fully Hydraulic Power Steering, Hydraulic Steering Gear, Hydraulic Steering Pumps, Hydraulic Actuators
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)
3) By Electro-Hydraulic Power Steering: Electric-Hydraulic Steering Gear, Electric-Hydraulic Steering Pumps, Electro-Hydraulic Actuators, Hybrid Electric Power Steering Systems

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Who Are the Key Players Shaping the Commercial Vehicle (CV) Active Power Steering Market's Competitive Landscape?
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.

What Geographic Markets Are Powering Growth in the Commercial Vehicle (CV) Active Power Steering Market?
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.

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