Commercial Vehicle (CV) Active Power Steering Market to Reach $8 Billion by 2029, Expanding at 8.8% CAGR

This report provides practical insights for business leaders looking to understand market growth, size, and key trends in the commercial vehicle (cv) active power steering industry.

What Is The Expected CAGR For The Commercial Vehicle (CV) Active Power Steering Market Through 2025?
The commercial vehicle (cv) active power steering market size has grown strongly in recent years. It will grow from $5.28 billion in 2024 to $5.71 billion in 2025 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to growth in commercial vehicle production, increasing demand for driver safety features, growth of the electric vehicle (EV), increasing focus on vehicle maneuverability, and improvements in automotive manufacturing.

The commercial vehicle (cv) active power steering market size is expected to see strong growth in the next few years. It will grow to $8 billion in 2029 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to increasing demand for driver comfort, rising adoption of electric and hybrid commercial vehicles, stringent safety regulations, rising demand for fuel efficiency, and growing focus on vehicle automation. Major trends in the forecast period include integration with advanced driver-assistance systems, use of artificial intelligence for steering control, steer-by-wire technology adoption, development of lightweight steering components, real-time data analytics for performance optimization, and connectivity with telematics systems.

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Which Key Factors Will Influence Commercial Vehicle (CV) Active Power Steering Market Growth Over 2025-2034?
The increasing demand for fuel-efficient vehicles is expected to propel the growth of the commercial vehicle (CV) active power steering market going forward. Fuel-efficient vehicles refer to cars, trucks, or other transportation modes designed to use less fuel to travel the same distance compared to conventional vehicles. The rise in fuel-efficient vehicles is driven by increasing fuel costs and growing environmental concerns as consumers and governments seek to reduce emissions and lower overall transportation expenses. Commercial vehicle (CV) active power steering enhances fuel-efficient vehicles by offering improved steering precision and reduced energy consumption, making them more efficient and easier to maneuver. It supports smoother driving experiences, contributing to overall vehicle performance and fuel savings. For instance, in May 2024, according to the International Energy Agency, a France-based intergovernmental organization, electric car sales have been steadily increasing, reaching 14 million (18%) in 2023, up from 3 million (4%) in 2020. Therefore, the increasing demand for fuel-efficient vehicles is driving the growth of the commercial vehicle (CV) active power steering market.

Comprehensive Segment-Wise Insights Into 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

What Are The Prominent Trends In The Commercial Vehicle (CV) Active Power Steering Market?
Major companies operating in the commercial vehicle (CV) active power steering market are focusing on the adoption of advanced technologies such as electric power steering technology to enhance fuel efficiency, reduce emissions, improve steering precision, and support autonomous driving capabilities. Electric power steering (EPS) technology is a system that uses an electric motor, rather than hydraulic fluid, to assist the driver in steering the vehicle, improving efficiency and enabling integration with advanced driver assistance systems (ADAS). For instance, in April 2025, Nexteer Automotive, a US-based steering and driveline technology company, launched high-output column-assist electric power steering (HO CEPS). This system increases steering assist capacity up to 110 Nm, enabling its application in larger and heavier vehicles, including those that traditionally required more complex steering systems.

Analysis Of Key Players In Commercial Vehicle (CV) Active Power Steering Market
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.

View the full commercial vehicle (cv) active power steering market report here:
https://www.thebusinessresearchcompany.com/report/commercial-vehicle-cv-active-power-steering-global-market-report

What Are The Key Regional Trends 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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