Heavy Duty Trucks Steering System Global Market Report 2025

The heavy duty trucks steering system market size has grown strongly in recent years. It will grow from $4.81 billion in 2024 to $5.11 billion in 2025 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to a greater focus on reducing vehicle weight to improve fuel efficiency, rising urbanization and infrastructure development, increasing demand for electric and hybrid heavy-duty trucks, growing environmental concerns, and a heightened demand for advanced vehicle safety features.

The heavy duty trucks steering system market size is expected to see strong growthq in the next few years. It will grow to $6.44 billion in 2029 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to increasing demand for heavy-duty trucks in logistics and transportation, rising need for fuel-efficient vehicles, government regulations related to safety and performance standards, expanding global trade and freight movement, and growing adoption of autonomous and semi-autonomous vehicles. Major trends during this period include advancements in steering system components, technological progress in electric power steering systems, innovations in steering system design and materials, customizable steering solutions to meet specific customer requirements, and the integration of steering systems with advanced driver assistance systems (ADAS).

The growing demand for efficient logistics and transportation services is expected to drive the growth of the heavy-duty trucks steering system market in the coming years. Logistics and transportation involve the effective planning, coordination, and movement of goods to meet supply chain and delivery requirements. This demand is increasing primarily due to the rapid expansion of e-commerce, which has significantly raised the need for fast, reliable, and widespread delivery networks to meet evolving consumer expectations. Steering systems in heavy-duty trucks play a crucial role by improving vehicle control and maneuverability, enabling safer and more efficient navigation through diverse routes and challenging driving environments. For example, in June 2024, a report published by Logistics UK, a UK-based trade association, stated that the logistics sector contributed $244 billion (£185 billion) in gross value added (GVA), up from an adjusted $211.6 billion (£160.2 billion) in 2021. With continued investment, supportive policies, and government collaboration, the sector could contribute up to $10.4 billion (£7.9 billion) annually in productivity gains to the UK’s GDP by 2030. Therefore, the growing demand for efficient logistics and transportation services is expected to support the expansion of the heavy-duty trucks steering system market.

Leading companies in the heavy-duty trucks steering system market are focusing on technological advancements such as modular rack-assist electric power steering (mREPS) systems, which assist drivers in steering with greater precision and less effort. mREPS is a type of electric power steering technology mounted directly on the steering rack and is recognized for its modular and scalable architecture. For instance, in April 2023, Nexteer Automotive, a US-based motion control technology company, introduced its mREPS system as part of its expanded portfolio of cost-effective and flexible electric power steering solutions. This system provides original equipment manufacturers (OEMs) with enhanced adaptability, enabling efficient integration into a wide range of heavier vehicles, including electric and light commercial vehicles. The mREPS system incorporates custom-designed torque and position sensors that deliver responsive and accurate steering control, while its modular design helps reduce development time and costs.

In September 2024, Rane Holdings Ltd. (RHL), an India-based industrial conglomerate, acquired a 51% equity stake in Rane NSK Steering Systems Pvt Ltd., making it a wholly owned subsidiary. Following the acquisition, the company was renamed Rane Steering Systems Pvt Ltd, as disclosed in its filing with the stock exchanges. Rane Steering Systems Pvt Ltd is a key manufacturer of steering systems for heavy-duty trucks in India, and this acquisition is expected to strengthen Rane Holdings’ position in the commercial vehicle components sector.

Major players in the heavy duty trucks steering system market are Robert Bosch GmbH, Denso Corporation, ZF Friedrichshafen AG, Thyssenkrupp AG, Continental AG, Hyundai Mobis Co., Magna International Inc., Mitsubishi Electric Corporation, Aisin Seiki Co. Ltd., Schaeffler AG, Parker Hannifin Corp., JTEKT Corporation, Dana Incorporated, NSK Ltd., HL Mando Corp., Nexteer Automotive, KYB Corporation, Haldex Ltd., China Automotive Systems Inc., and Hitachi Astemo Americas Inc.

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

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

The heavy-duty truck steering system is a durable mechanism designed to provide accurate directional control and maneuverability for large vehicles under diverse load and road conditions. It improves vehicle stability and responsiveness, contributing to smoother handling and enhanced safety during operation. This system is built to endure high levels of stress and maintain reliable performance over long distances and challenging terrains.

The key components of heavy-duty truck steering systems include steering gearboxes, steering columns, power steering pumps, steering linkages, and steering racks. Steering gearboxes are mechanical parts that convert the rotational motion of the steering wheel into the linear motion required to turn the wheels. The system employs technologies such as hydraulic power steering, electric power steering, and electro-hydraulic power steering. It is distributed through both original equipment manufacturer (OEM) and aftermarket channels. Applications include heavy trucks, semi-trailer tractors, and other large vehicles, serving end-users in industries such as construction, logistics and freight, agriculture, mining, and utilities.

The heavy duty trucks steering system market research report is one of a series of new reports that provides heavy duty trucks steering system market statistics, including heavy duty trucks steering system industry global market size, regional shares, competitors with a heavy duty trucks steering system market share, detailed heavy duty trucks steering system market segments, market trends and opportunities, and any further data you may need to thrive in the heavy duty trucks steering system industry. This heavy duty trucks 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 heavy-duty trucks steering system market consists of revenues earned by entities by providing services such as steering system installation, preventive maintenance services, diagnostics and troubleshooting, system calibration, and emergency repair services. The market value includes the value of related goods sold by the service provider or included within the service offering. The heavy-duty trucks steering system market also includes sales of tie rods, pitman arms, steering shafts, and power steering fluid. 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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