Light-duty Truck Steering System Market Report 2026

The light-duty truck steering system market size has grown steadily in recent years. It will grow from $1.93 billion in 2025 to $2 billion in 2026 at a compound annual growth rate (CAGR) of 3.9%. The growth in the historic period can be attributed to expansion of light commercial vehicle fleets, adoption of hydraulic steering, growth in logistics vehicles, demand for driver comfort, vehicle safety standards.

The light-duty truck steering system market size is expected to see steady growth in the next few years. It will grow to $2.3 billion in 2030 at a compound annual growth rate (CAGR) of 3.6%. The growth in the forecast period can be attributed to electric vehicle penetration, autonomous driving integration, demand for fuel efficiency, connected steering systems, smart fleet adoption. Major trends in the forecast period include shift toward electric power steering, integration of autonomous steering functions, demand for improved vehicle handling, adoption of steer-by-wire systems, growth of light commercial vehicles.

The rising adoption of electric vehicles (EVs) is expected to significantly drive growth in the light-duty truck steering system market. EVs, powered fully or partially by electric motors using rechargeable batteries, are gaining popularity due to increasing environmental concerns, as their zero tailpipe emissions reduce air pollution and help combat climate change. The shift toward EVs is transforming vehicle component design and performance requirements, including steering systems. Light-duty truck steering systems improve EVs by enhancing energy efficiency, reducing steering effort, and supporting advanced driver-assistance features through electric power steering technology. For example, in January 2025, Automotive Dive reported that U.S. EV sales reached 1.3 million units in 2024, marking a 7.3% year-over-year increase. Consequently, growing EV adoption is fueling demand for advanced steering systems in light-duty trucks.

Key players in the market are focusing on innovations such as mPEPS (motor-driven electric power steering systems) to boost performance, efficiency, and safety. Light-duty truck steering systems enable better vehicle control for smaller trucks used in deliveries and transport, emphasizing ease of use, safety, and efficiency. For instance, in February 2024, Mitsubishi Fuso Truck and Bus Corporation launched the redesigned light-duty Canter truck in Japan, its first major interior overhaul in 14 years. The Canter features an elegant, user-friendly interior with a streamlined dashboard, a 10-inch LCD instrument panel, steering wheel controls, an optional touchscreen, and advanced safety technologies including Active Attention Assist, Active Sideguard Assist, Active Brake Assist 5, Traffic Sign Recognition, and a rear-view camera, enhancing driver comfort and safety.

In January 2025, India-based Rane Group partnered with Germany’s ZF Group to strengthen its presence in advanced steering systems. This collaboration involves Rane introducing Rack Drive Electric Power Steering systems and licensing Column Drive Electric Power Steering technology from ZF Friedrichshafen AG, a global leader in light-duty truck steering systems.

Major companies operating in the light-duty truck steering system market report include Robert Bosch GmbH, ZF Friedrichshafen AG, Nexteer Automotive Corporation, JTEKT Corporation, TRW Automotive Holdings Corp, Continental AG, Magna International Inc., Valeo SA, NSK Ltd., Thyssenkrupp AG, Mando Corporation, Hitachi Automotive Systems Ltd., MOOG Inc., Titan Steering Systems, Global Steering Systems LLC, Hyundai Mobis Co. Ltd., Schaeffler AG, Dana Incorporated, Parker Hannifin Corporation, Aisin Corporation, KYB Corporation, China Automotive Systems Inc., HL Mando Corp., Nidec Corporation, Bosch Automotive Steering GmbH.

Asia-Pacific was the largest region in the light-duty truck steering system market in 2025. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the light-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 light-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 light-duty truck steering system market consists of revenues earned by entities by providing services such as manufacturing steering components, design and engineering services, repair and maintenance services, testing and calibration services, and integration services. The market value includes the value of related goods sold by the service provider or included within the service offering. The light-duty truck steering system market also includes sales of manual steering systems, power steering systems, steering columns, steering racks and pinions, and steering pumps. 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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