Commercial Vehicle CV Active Power Steering Market Forecast 2025-2034: Growth Drivers, Market Share, Segments, & Trends

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The Business Research Company's Commercial Vehicle CV Active Power Steering Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, June 9, 2025 /EINPresswire.com/ -- What Is The Projected Market Size Of The Commercial Vehicle CV Active Power Steering Market?
In recent years, the commercial vehicle CV active power steering market has demonstrated impressive growth, with its size anticipated to rise from $5.28 billion in 2024 to $5.78 billion in 2025, indicating a compound annual growth rate CAGR of 9.5%. Factors contributing to this robust expansion include a surge in commercial vehicle production, increasing demand for driver safety features, the ascent of electric vehicle EV markets, a heightened focus on vehicle maneuverability, and advancements in automotive manufacturing.

What Are The Projected Trends In The Commercial Vehicle CV Active Power Steering Market Size?
Looking forward, the market is set to continue its strong growth trajectory, with projections indicating a rise to $8.24 billion in 2029 at a compound annual growth rate CAGR of 9.3%. A host of factors, including a growing demand for driver comfort, the increasing adoption of electric and hybrid commercial vehicles, stringent safety regulations, rising demand for fuel efficiency, and a burgeoning focus on vehicle automation, will drive this forecasted growth.

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What Is Propelling The Commercial Vehicle CV Active Power Steering Market's Growth?
Fuel-efficient vehicles are becoming increasingly popular, and they are key in propelling the commercial vehicle CV active power steering market. Such vehicles—including cars, trucks, and other modes of transportation—are designed to consume less fuel for the same distance traveled as conventional vehicles. Rising fuel prices and growing environmental concerns from consumers and governments alike have fueled this shift towards fuel-efficient vehicles. CV active power steering enhances such vehicles by improving steering precision and reducing energy consumption, making them even more efficient and easier to maneuver. For instance, in May 2024, the International Energy Agency reported a steady rise in electric car sales, which reached 14 million an 18% increase in that year alone.

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Who Are The Key Industry Players In The Commercial Vehicle CV Active Power Steering?
Major market players include 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, and Brogen EV Solution.

What Are The Emerging Trends In The Commercial Vehicle CV Active Power Steering Market Market?
Leading companies in the commercial vehicle CV active power steering market are adopting advanced technologies such as electric power steering technology. This technology cuts emissions, enhances fuel efficiency, improves steering precision, and supports autonomous driving capabilities. For example, in April 2025, Nexteer Automotive launched the high-output column-assist electric power steering HO CEPS system, which increases steering assist up to 110 Nm and can be applied in larger and heavier vehicles.

How Is The Global Commercial Vehicle CV Active Power Steering Market Segmented?
The commercial vehicle CV active power steering market can be analyzed through the following segments and subsegments:
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, After market

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 Regional Insights Into The Commercial Vehicle CV Active Power Steering Market?
In 2024, North America led the commercial vehicle CV active power steering market. However, Asia-Pacific is forecast to be the fastest-growing region. The market report covers various regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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