Market Overview:
The global commercial vehicle active power steering systems market is estimated to be valued at US$ 2,819.5 Mn in 2018 and is projected to register a CAGR of 5.4% over the forecast period (2018–2030), according to a new study by Transparency Market Research (TMR). The electric power steering segment is expected to account for a major share of the global commercial vehicle active power steering systems market in 2018. However, the electro-hydraulic power steering segment is anticipated to register highest CAGR during the forecast period. The medium commercial vehicle application segment is expected to dominate the global CV active power steering systems market with maximum revenue share in 2018. However, heavy commercial vehicles are anticipated witness highest growth rate during the forecast period owing increasing demand from developing countries such as India and China.
Product Definition:
Commercial Vehicle Active Power Steering Systems are systems that use electric power to assist the driver in steering the vehicle. This can help reduce fatigue and improve control.
Electric Power Steering(EPS):
Electric power steering (EPS) is a type of power steering system that uses an electric motor for the purpose of providing assistance in maintaining directional control of the vehicle. The EPS system does not use hydraulic pressure, but instead employs an electric motor and a battery to provide assistance in moving the steering wheel.
Electro-Hydraulic Power Steering(EHPS):
Electro-hydraulic power steering (EHPS) is a hybrid power steering technology that combines the best of both hydraulic and electric power steering. It uses an electric motor/generator to drive the hydraulic pump, which in turn provides better fuel economy and lower emissions.
The major advantages of EHPS include less steer effort, improved vehicle maneuverability, reduced noise & vibrations due to gear reduction, enhanced driver comfort due to automatic lubrication system.
Application Insights:
On the basis of application, the global market has been segmented into medium commercial vehicle and heavy commercial vehicle. The medium commercial vehicles include light trucks, such as mini buses and passenger cars. Mini buses are considered to be a part of the bus industry while passenger cars form part of the car industry. In 2017, mini buses accounted for a major share in terms of revenue among all active power steering systems across all applications globally. This can be attributed to increasing demand from developing countries for small-sized private transport vehicles with comfort features such as air conditioning and music system along with luggage space.
Passenger car manufacturers including Ford Motor Company; General Motors; Hyundai Motor Group; Toyota Motors Corporation; Volkswagen AG.; Mahindra & Mahindra Ltd.; Mercedes-Benz India Pvt., Ltd.; BMW AG.; Audi India Pvt., Ltd.; Nissan Motor Co., Ltd.; Infiniti MMC Co.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to rising investments in developing infrastructure, increasing demand for passenger cars and commercial vehicles, and favorable government regulations. China is one of the largest markets for commercial vehicles active power steering systems owing to rapid industrialization along with supportive government policies encouraging domestic manufacturing activities.
Europe was estimated as a significant market in 2017 owing to high demand from heavy commercial vehicle users such as buses, trucks, and busses across various countries including Germany, France, Italy among others are anticipated to drive growth over the forecast period.
Growth Factors:
- Increasing demand for CV from the commercial sector
- Growing awareness about the benefits of active power steering systems among fleet operators and drivers
- Technological advancements in active power steering systems that offer improved performance and fuel efficiency
- Government initiatives to promote the use of CV in commercial applications
- Rising demand for eco-friendly and fuel-efficient CV
Scope Of The Report
Report Attributes
Report Details
Report Title
Commercial Vehicle(CV) Active Power Steering Systems Market Research Report
By Type
Electric Power Steering(EPS), Electro-Hydraulic Power Steering(EHPS), Other
By Application
Medium Commercial Vehicle, Heavy Commercial Vehicle
By Companies
Bosch, Daimler, Knorr-Bremse, BMW, Volvo, Ognibene, Tedrive Steering Systems GmbH, Bosch
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
162
Number of Tables & Figures
114
Customization Available
Yes, the report can be customized as per your need.
Global Commercial Vehicle(CV) Active Power Steering Systems Market Report Segments:
The global Commercial Vehicle(CV) Active Power Steering Systems market is segmented on the basis of:
Types
Electric Power Steering(EPS), Electro-Hydraulic Power Steering(EHPS), Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Medium Commercial Vehicle, Heavy Commercial Vehicle
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Bosch
- Daimler
- Knorr-Bremse
- BMW
- Volvo
- Ognibene
- Tedrive Steering Systems GmbH
- Bosch
Highlights of The Commercial Vehicle(CV) Active Power Steering Systems Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Electric Power Steering(EPS)
- Electro-Hydraulic Power Steering(EHPS)
- Other
- By Application:
- Medium Commercial Vehicle
- Heavy Commercial Vehicle
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Commercial Vehicle(CV) Active Power Steering Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Commercial Vehicle(CV) Active Power Steering Systems are a type of power steering system that uses electric motors to provide power to the steering wheel. This system is designed to improve the handling and braking performance of commercial vehicles.
Some of the key players operating in the commercial vehicle(cv) active power steering systems market are Bosch, Daimler, Knorr-Bremse, BMW, Volvo, Ognibene, Tedrive Steering Systems GmbH, Bosch.
The commercial vehicle(cv) active power steering systems market is expected to grow at a compound annual growth rate of 5.4%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Commercial Vehicle(CV) Active Power Steering Systems Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Commercial Vehicle(CV) Active Power Steering Systems Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Commercial Vehicle(CV) Active Power Steering Systems Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Commercial Vehicle(CV) Active Power Steering Systems Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Commercial Vehicle(CV) Active Power Steering Systems Market Size & Forecast, 2020-2028 4.5.1 Commercial Vehicle(CV) Active Power Steering Systems Market Size and Y-o-Y Growth 4.5.2 Commercial Vehicle(CV) Active Power Steering Systems Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Electric Power Steering(EPS)
5.2.2 Electro-Hydraulic Power Steering(EHPS)
5.2.3 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Medium Commercial Vehicle
6.2.2 Heavy Commercial Vehicle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Commercial Vehicle(CV) Active Power Steering Systems Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Commercial Vehicle(CV) Active Power Steering Systems Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Electric Power Steering(EPS)
9.6.2 Electro-Hydraulic Power Steering(EHPS)
9.6.3 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Medium Commercial Vehicle
9.10.2 Heavy Commercial Vehicle
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Electric Power Steering(EPS)
10.6.2 Electro-Hydraulic Power Steering(EHPS)
10.6.3 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Medium Commercial Vehicle
10.10.2 Heavy Commercial Vehicle
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Electric Power Steering(EPS)
11.6.2 Electro-Hydraulic Power Steering(EHPS)
11.6.3 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Medium Commercial Vehicle
11.10.2 Heavy Commercial Vehicle
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Electric Power Steering(EPS)
12.6.2 Electro-Hydraulic Power Steering(EHPS)
12.6.3 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Medium Commercial Vehicle
12.10.2 Heavy Commercial Vehicle
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Electric Power Steering(EPS)
13.6.2 Electro-Hydraulic Power Steering(EHPS)
13.6.3 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Medium Commercial Vehicle
13.10.2 Heavy Commercial Vehicle
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Commercial Vehicle(CV) Active Power Steering Systems Market: Competitive Dashboard
14.2 Global Commercial Vehicle(CV) Active Power Steering Systems Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Bosch
14.3.2 Daimler
14.3.3 Knorr-Bremse
14.3.4 BMW
14.3.5 Volvo
14.3.6 Ognibene
14.3.7 Tedrive Steering Systems GmbH
14.3.8 Bosch