commercial vehicles active power steering market with Strong CAGR of 18.38% during the Forecast Period 2021-2025

The Global commercial vehicles active power steering market accounted for 410,841 Units in 2020 and is projected to grow at a CAGR of 18.38% during the forecast period 2021-2025, to reach 955,233 Units by 2025.

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The active power steering in the automobile industry was introduced by the company BMW/ZF. This steering mechanism is a combination of numerous linkages that are envisioned to move the vehicle within a minimal radius and reduce over turning. Contrasting to the conventional steering systems, the modern steering systems are integrated with myriad electronic components intended to assist to cut down the power and provide précised turning. The electronic power steering also comprises the feature to enhance the fuel efficiency and vehicle handling and control of the vehicle and driving experience. Furthermore, the rising competition in the market for development of electric, auto – pilot or self – driven vehicles is anticipated to spur the global active power steering market.

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Some of the key technologies used in active safety of vehicle in trucks and other off-highway vehicles are lane departure warning or mitigation systems (LDWS), forward collision warning or mitigation systems (FCWS), electronic stability control systems (ESC), vehicle communication systems (VCS), and blind spot detection systems (BSDS). The market shares for above mentioned technologies implemented in heavy trucks were found to minimum except VCS which includes GPS and other networking devices. However, VCS holds the major share among the other technologies with 67% implementations. The other technologies are yet to witness acceptance by OE`s manufacturing commercial vehicles. Second highly accepted technology is ESC with 31%, followed by FCWS, LDWS and BSDS with 14%, 11% and 4% respectively.

Global Commercial Vehicle (CV) Active Power Steering Market Players:

Ognibene.

tedrive Steering Systems GmbH.

Bosch.                                                                                                                                                                                     
Knorr-Bremse.

BMW.

Volvo.

Daimler
The report segments the global Commercial Vehicle (CV) Active Power Steering market as follows:

Global Commercial Vehicle (CV) Active Power Steering Market – By Type

- Electric Power Steering (EPS)
- Electro-Hydraulic Power Steering (EHPS)

Global Commercial Vehicle (CV) Active Power Steering Market – By Application

- Medium Commercial Vehicle
- Heavy Commercial Vehicle

Global Commercial Vehicle (CV) Active Power Steering Market – By Geography

North America
- U.S.
- Canada
- Mexico

Europe

- France
- Germany
- Italy
- Spain
- U.K.
- Rest of Europe

Asia Pacific (APAC)
- Japan
- China
- India
- Australia
- Rest of APAC

Middle East & Africa (MEA)
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA

South America (SA)
- Brazil
- Rest of SA
 

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