Medium Duty Truck Steering System Global Market Report 2025

The medium duty truck steering system market size has grown strongly in recent years. It will grow from $2.99 billion in 2024 to $3.17 billion in 2025 at a compound annual growth rate (CAGR) of 6.1%. The growth during the historic period can be attributed to factors such as the rise of connected vehicle technologies, increasing fuel efficiency requirements, growing demand for reliable transportation solutions, the emergence of electric trucks, and the expansion of construction and infrastructure activities.

The medium duty truck steering system market size is expected to see strong growth in the next few years. It will grow to $3.98 billion in 2029 at a compound annual growth rate (CAGR) of 5.9%. The growth expected in the forecast period can be attributed to factors such as increasing demands placed on medium-duty trucks, rising need for reliable and efficient transportation solutions, expansion of e-commerce, growing transportation volumes, and the increasing adoption of electric medium-duty trucks. Key trends during this period include the development of advanced steering technologies, a shift toward electric and automated steering solutions, emergence of new technologies, movement toward steer-by-wire systems, and advancements in sensor fusion technologies.

The rising demand for fuel-efficient vehicles is expected to propel the growth of the medium-duty truck steering system market. Fuel-efficient vehicles consume less fuel over a given distance compared to standard vehicles, resulting in reduced fuel costs and significant long-term savings. Medium-duty truck steering systems support fuel efficiency by reducing steering effort and improving vehicle handling, which optimizes energy use and lowers engine load. For example, in December 2024, the U.S. Energy Information Administration reported that the combined share of hybrid, plug-in hybrid electric, and battery electric vehicles (BEVs) in new light-duty vehicle sales in the U.S. increased from 19.1% in Q2 2024 to 21.2% in Q3 2024. Hence, the growing demand for fuel-efficient vehicles is driving the medium-duty truck steering system market.

Key companies in the medium-duty truck steering system market are focusing on innovative technologies like modular steering to enhance cost-effectiveness, scalability, and integration with advanced vehicle platforms. Modular steering systems offer flexible and scalable architectures that can be customized across different vehicles using common components. For instance, in August 2024, Nexteer Automotive, a U.S.-based technology company, launched a modular pinion-assist electric power steering (EPS) system covering all major EPS architectures. This cost-effective and scalable solution supports both single- and dual-pinion configurations and is compatible with electric, hybrid, and internal combustion vehicles. The system reduces noise, vibration, and harshness (NVH), improving driver comfort and allowing efficient integration across vehicle platforms.

In December 2024, Balmoral Funds LLC, a U.S.-based private equity firm, acquired R.H. Sheppard Co. Inc., a manufacturer specializing in steering systems for medium- and heavy-duty trucks. This acquisition aims to strengthen Balmoral’s portfolio and accelerate growth within strategic market sectors.

Major players in the medium duty truck steering system market are Mitsubishi Motors Corporation, Robert Bosch GmbH, Nissan Motor Co Ltd., Hyundai Mobis Co Ltd., ZF Friedrichshafen AG, Thyssenkrupp AG, Schaeffler AG, Infineon Technologies AG, Nidec Corporation, JTEKT Corporation, Danfoss A/S, Knorr-Bremse AG, NSK Ltd., Mando Corporation, Wiley, Showa Corporation, UD Trucks Corporation, Allient Inc., Nexteer Automotive Corporation, and Delphi Technologies PLC.

North America was the largest region in the medium duty truck steering system market in 2024. Asia-Pacific is expected to be the leading region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the medium duty truck steering system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Medium-duty truck steering system refers to the components that assist a medium-sized truck in turning and maintaining its course while driving. These steering systems use either hydraulic or electronic power assistance to help drivers maneuver heavier vehicles more easily, enhancing control, stability, and comfort during long hauls or urban deliveries. Medium-duty trucks are commonly employed to transport goods, equipment, or materials for businesses such as delivery services, construction, and landscaping.

The main types of medium-duty truck steering systems include hydraulic power steering (HPS), electric power steering (EPS), and electro-hydraulic power steering (EHPS). Hydraulic power steering (HPS) uses hydraulic pressure generated by a pump typically engine-driven to assist the driver in turning the steering wheel. These systems are made up of various products such as steering columns, steering gears, steering pumps, steering sensors, and steering motors. The technologies involved include power steering, manual steering, and steer-by-wire, applied across industries such as construction and mining, freight and logistics, and others. These steering systems serve end users including original equipment manufacturers (OEMs), the aftermarket, and fleet owners.

The medium duty truck steering system market research report is one of a series of new reports that provides medium duty truck steering system market statistics, including medium duty truck steering system industry global market size, regional shares, competitors with a medium duty truck steering system market share, medium duty truck steering system market segments, market trends and opportunities, and any further data you may need to thrive in the medium duty truck steering system industry. This medium duty truck steering system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The medium duty truck steering system market consists of revenues earned by entities by providing services such as power steering pump service, steering linkage service, tie rod end replacement services, electronic steering calibration services, and steering system inspection and lubrication services. The market value includes the value of related goods sold by the service provider or included within the service offering. The medium duty truck steering system market also includes sales of steering gearboxes, steering shafts, electric power steering, power steering pumps, and tie rod ends. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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