Medium Duty Truck Steering System Market Report 2026

The medium duty truck steering system market size has grown strongly in recent years. It will grow from $3.17 billion in 2025 to $3.36 billion in 2026 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to expansion of logistics fleets, growth in construction vehicles, hydraulic steering dominance, urbanization-driven transport demand, fleet vehicle usage.

The medium duty truck steering system market size is expected to see strong growth in the next few years. It will grow to $4.2 billion in 2030 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to electrification of medium-duty trucks, autonomous driving features adoption, regulatory safety requirements, demand for fuel efficiency, smart fleet management. Major trends in the forecast period include shift toward electric power steering systems, adoption of steer-by-wire technologies, demand for enhanced driver comfort, integration of advanced steering sensors, growth in urban delivery fleets.

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 companies operating in the medium duty truck steering system market report include Robert Bosch GmbH, ZF Friedrichshafen AG, JTEKT Corporation, Nexteer Automotive Corporation, NSK Ltd., Mando Corporation, Hyundai Mobis Co. Ltd., Showa Corporation, Danfoss A/S, Nidec Corporation, Thyssenkrupp AG, Schaeffler AG, Infineon Technologies AG, Allient Inc., Delphi Technologies PLC, China Automotive Systems Inc., Parker Hannifin Corporation, Eaton Corporation plc, Aisin Corporation, KYB Corporation, Bosch Automotive Steering GmbH, Hitachi Astemo Ltd., MOOG Inc., Rane Holdings Limited, Pailton Engineering Ltd.

North America was the largest region in the medium duty truck steering system market in 2025. Asia-Pacific is expected to be the leading region in the forecast period. The regions covered in the medium duty truck steering system market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the medium duty truck steering system market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

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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