The Commercial Vehicle (CV) Active Power Steering Market Growth is experiencing significant growth, driven by the increasing demand for enhanced vehicle control, safety, and driver comfort. The Commercial Vehicle (CV) Active Power Steering Market Size was valued at USD 5.85 billion in 2023 and is expected to reach USD 14.29 billion by 2031 and grow at a CAGR of 11.8% over the forecast period 2024-2031.

Active power steering (APS) systems, designed to provide greater steering precision, ease of operation, and overall vehicle safety, are becoming a key component in modern commercial vehicles. These systems are particularly valuable for large trucks, buses, and other heavy-duty vehicles where effective steering is crucial for both operational efficiency and driver well-being.

Market Overview

Active power steering systems are an advanced form of steering mechanism that utilize electronic sensors, motors, and control units to adjust the amount of steering assistance based on the vehicle’s speed and driving conditions. Unlike traditional hydraulic systems, APS systems offer improved fuel efficiency, lower maintenance costs, and enhanced maneuverability, especially at low speeds.

As commercial vehicles become more advanced with integrated technologies like Advanced Driver Assistance Systems (ADAS), the demand for precise, responsive steering solutions has surged. The growing focus on driver comfort, safety regulations, and operational efficiency further accelerates the adoption of APS systems.

Get a Sample Copy of this Research Report

 https://www.snsinsider.com/sample-request/2165

Top Key Players

ZF Friedrichshafen AG (Germany), Daimler AG (Germany), BMW AG (Germany), AB Volvo (Sweden), Tedrive steering systems GmbH (Germany), Ognibene Power SPA (Italy), Knorr-Bremse (Germany), and Robert Bosch (Germany) are some of the affluent competitors with significant market share in the Commercial Vehicle (CV) Active Power Steering Market.

Key Market Drivers

  1. Enhanced Driver Safety and Comfort: APS systems reduce the physical strain on drivers, especially in heavy-duty vehicles, by providing variable steering assistance that adapts to speed and load.
  2. Regulatory Compliance: Stringent safety regulations, including those related to driver ergonomics and accident prevention, are driving the adoption of advanced steering systems in commercial vehicles.
  3. Fuel Efficiency and Cost Savings: Active power steering systems contribute to improved fuel efficiency by reducing the energy consumption compared to traditional hydraulic systems, a significant advantage in the commercial vehicle sector.
  4. Growth of Commercial Vehicle Fleet: The rise in logistics and e-commerce, coupled with the growing demand for freight transportation, is driving the need for more efficient and safer commercial vehicles.
  5. Technological Advancements in Vehicle Systems: The integration of APS with ADAS and electric vehicles (EVs) is fueling market growth as these systems contribute to overall vehicle performance and safety.

Segmentation Analysis

The Commercial Vehicle (CV) Active Power Steering Market can be segmented as follows:

1. By Type:

  • Hydraulic Power Steering (HPS): Traditional steering system that uses hydraulic fluid pressure to assist in steering. Commonly found in older commercial vehicles, HPS provides reliable performance but is less energy-efficient compared to newer technologies.
  • Electric Power Steering (EPS): A more energy-efficient system that uses electric motors to assist steering. EPS systems are increasingly adopted in commercial vehicles due to their lower energy consumption, reduced weight, and better integration with advanced driver assistance systems (ADAS).
  • Electro-hydraulic Power Steering (EHPS): A hybrid of hydraulic and electric systems, EHPS offers the benefits of both technologies. It uses an electric motor to drive the hydraulic pump, making it more efficient than HPS while maintaining the reliability of hydraulic assistance.

2. By Application:

  • Light Commercial Vehicles (LCV): These include smaller commercial vehicles such as delivery vans, pickup trucks, and small transport vehicles. The demand for EPS and EHPS systems is growing in this segment for improved fuel efficiency, better maneuverability, and reduced weight.
  • Medium Commercial Vehicles (MCV): Vehicles in this segment typically include mid-sized trucks and buses. Hydraulic and electro-hydraulic steering systems are commonly used for their reliability and robustness, though EPS systems are increasingly being integrated in newer models.
  • Heavy Commercial Vehicles (HCV): Heavy-duty trucks, buses, and trailers in this category often require robust steering systems. While HPS was traditionally used, there is a growing trend toward EPS and EHPS for their better fuel economy and lower maintenance costs, especially in large fleets.

Regional Analysis

The market spans North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

  • North America: A mature market with a significant share, driven by the strong presence of major commercial vehicle manufacturers in the U.S. and Canada. Stringent safety regulations and advancements in vehicle technologies further fuel the adoption of APS systems.
  • Europe: Rapid adoption due to the presence of leading commercial vehicle manufacturers and a strong focus on vehicle safety standards. Additionally, Europe has seen an increasing shift towards electric commercial vehicles, which also benefits from the use of active power steering.
  • Asia-Pacific: The fastest-growing region, led by countries like China, India, and Japan. The region’s growing automotive industry, expanding logistics and e-commerce sectors, and increasing demand for safety and fuel-efficient vehicles are propelling market growth.
  • Latin America and Middle East & Africa: These regions are gradually adopting advanced vehicle technologies, with demand for APS systems rising in countries with growing commercial vehicle fleets.

Current Trends in the Commercial Vehicle (CV) Active Power Steering Market

  1. Integration with Advanced Driver Assistance Systems (ADAS): APS systems are increasingly being integrated with ADAS to enhance vehicle safety, such as lane-keeping assistance and automatic emergency braking, offering a more comprehensive driving experience.
  2. Shift Towards Electric Vehicles (EVs): As electric vehicles gain popularity, APS systems are becoming more common in electric commercial vehicles, as they require less power and are more compatible with the electrified systems of EVs.
  3. Autonomous Driving and APS: The growing focus on autonomous driving technology is driving the development of APS systems, as they play a critical role in ensuring precise vehicle control for self-driving commercial vehicles.
  4. Sustainability and Fuel Efficiency: With an increasing emphasis on sustainability, commercial vehicle manufacturers are turning to APS to reduce fuel consumption and CO2 emissions, as these systems consume less energy than traditional hydraulic-based systems.

Challenges

Despite the positive outlook, the market faces challenges such as the high initial cost of active power steering systems, especially for small and medium fleet operators. Additionally, there are concerns about the complexity of integrating APS into existing vehicle architectures, particularly in older commercial vehicle models. However, advancements in technology and the gradual reduction in system costs are expected to alleviate these challenges over time.

Buy Now Link

https://www.snsinsider.com/checkout/2165

Conclusion

The Commercial Vehicle Active Power Steering Market is set for substantial growth, driven by technological advancements, the increasing demand for safety features, and the expansion of global commercial vehicle fleets. With the integration of active power steering systems in various vehicle types, from heavy-duty trucks to buses, the market is poised to revolutionize the driving experience in commercial vehicles, making them safer, more efficient, and easier to operate.

About Us:

SNS Insider is a premier global market research and consulting firm dedicated to shaping the industry's future. Our mission is to equip clients with the insights necessary to succeed in ever-changing environments. By leveraging advanced methodologies like surveys, video interviews, and focus groups, we deliver timely and precise market intelligence and consumer insights, empowering you to make confident, informed decisions.

Contact Us:

Akash Anand – Head of Business Development & Strategy

info@snsinsider.com

 Phone: +1-415-230-0044 (US)