Global Medium And Heavy Duty Truck Steering System Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Component;

Steering Gear, Steering Column, Steering Wheel, Hydraulic Pump, and Others.

By Application;

Heavy-duty truck, and Medium-duty truck.

By Type;

Hydraulic Power Steering, Electro-hydraulic power steering, and Electric Power Steering.

By Sales Channel;

OEM, and Aftermarket.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa, and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn509936085 Published Date: March, 2025 Updated Date: April, 2025

Introduction

Global Medium And Heavy Duty Truck Steering System Market (USD Million), 2021 - 2031

In the year 2024, the Global Medium And Heavy Duty Truck Steering System Market was valued at USD 2,080.90 million. The size of this market is expected to increase to USD 2,406.75 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 2.1%.

The Global Medium and Heavy Duty Truck Steering System Market encompasses a critical segment of the automotive industry, focusing on steering components designed specifically for medium and heavy-duty trucks. Steering systems play a pivotal role in ensuring vehicle control, maneuverability, and safety, particularly in large commercial vehicles used for transportation, logistics, construction, and other industrial applications. As essential components of truck chassis, steering systems undergo rigorous demands and must meet stringent performance standards to navigate varied road conditions, carry heavy loads, and withstand prolonged usage.

This market segment caters to a wide range of medium and heavy-duty trucks, including long-haul tractor-trailers, delivery trucks, dump trucks, concrete mixers, and specialty vehicles used in construction, mining, and forestry operations. The steering systems deployed in these trucks are engineered to provide precise steering response, stability, and durability, enhancing driver confidence and comfort while optimizing vehicle performance and efficiency. Additionally, advancements in steering system technology, such as power-assisted steering, electronic steering control, and steer-by-wire systems, are driving innovation and differentiation within the market, offering improved safety features, fuel efficiency, and vehicle integration capabilities.

The demand for medium and heavy-duty truck steering systems is influenced by various factors, including economic growth, industrial activities, infrastructure development, and regulatory requirements in key regions worldwide. As the transportation and logistics industries continue to expand globally, driven by e-commerce growth, urbanization, and global trade, there is a parallel increase in demand for medium and heavy-duty trucks equipped with advanced steering systems to meet evolving customer needs and regulatory mandates.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Component
    2. Market Snapshot, By Application
    3. Market Snapshot, By Type
    4. Market Snapshot, By Sales Channel
    5. Market Snapshot, By Region
  4. Global Medium And Heavy Duty Truck Steering System Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Global transportation growth
        2. Medium/heavy truck demand rise
        3. Steering system tech advancements
        4. Electric/hybrid truck demand
        5. Urbanization boosts delivery needs
      2. Restraints
        1. Regulatory hurdles
        2. Limited aftermarket scope
        3. Cybersecurity concerns
        4. Driver shortage challenges
      3. Opportunities
        1. Electric vehicle infrastructure expansion
        2. Connected truck demand rise
        3. Advanced material development
        4. Predictive maintenance adoption
        5. Safety feature integration
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Medium And Heavy Duty Truck Steering System Market, By Component, 2021 - 2031 (USD Million)
      1. Steering Gear
      2. Steering Column
      3. Steering Wheel
      4. Hydraulic Pump
      5. Others
    2. Global Medium And Heavy Duty Truck Steering System Market, By Application, 2021 - 2031 (USD Million)
      1. Heavy-duty truck
      2. Medium-duty truck
    3. Global Medium And Heavy Duty Truck Steering System Market, By Type, 2021 - 2031 (USD Million)
      1. Hydraulic power steering
      2. Electro-hydraulic power steering
      3. Electric power steering
    4. Global Medium And Heavy Duty Truck Steering System Market, By Sales Channel, 2021 - 2031 (USD Million)
      1. OEM
      2. Aftermarket
    5. Global Medium And Heavy Duty Truck Steering System Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Daimler AG
      2. Volvo Group
      3. PACCAR Inc.
      4. Navistar International Corporation
      5. Volkswagen Truck & Bus
      6. AB Volvo
      7. Scania AB
      8. MAN Truck & Bus AG
      9. Iveco S.p.A.
      10. Hino Motors, Ltd.
      11. Isuzu Motors Limited
      12. Tata Motors Limited
      13. Dongfeng Motor Corporation
      14. Sinotruk (Hong Kong) Limited
      15. FAW Group Corporation
  7. Analyst Views
  8. Future Outlook of the Market