Market Overview:
The global light commercial vehicle hydraulic steering system market is estimated to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for light commercial vehicles across the globe. Additionally, the growing demand for fuel-efficient and low-emission vehicles is also expected to drive the growth of this market during the forecast period. The global light commercial vehicle hydraulic steering system market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into pure hydraulic steering system and electro-hydraulic steering system.
Product Definition:
A light commercial vehicle hydraulic steering system is a device that helps to steer a vehicle. It consists of hoses, valves, and cylinders that use pressurized fluid to move the steering wheel. This system is important because it provides power and control to the driver, allowing them to steer the vehicle in any direction they choose.
Pure Hydraulic Steering System:
Pure hydraulic steering systems are used in light commercial vehicles such as trucks, vans, and buses. They are also used in heavy vehicles that have a gross weight rating of more than 7.5 tons and less than 10.5 tons depending on the country’s regulations.
Electro-Hydraulic Steering System:
The electro-hydraulic steering system is a hybrid power steering system that uses hydraulic assist to increase the turning radius and reduce the effort required to steer the vehicle. The E-Hydraulic Steering System offers better control over vehicles in adverse road conditions, especially at high speeds.
It also helps in improving driver safety by enabling an easier maneuvering of vehicle during accidents or while driving through narrow roads or congested areas.
Application Insights:
The long-distance segment dominated the global market in 2017. The growth can be attributed to the rising demand for commercial vehicles for inter-state transport. Also, increasing number of international air connections coupled with growing domestic travel within countries is expected to drive the segment over the forecast period.
The short-distance segment is anticipated to witness significant growth over the forecast period owing to increased utilization of light commercial vehicles in intra-city applications such as local transportation of goods and passengers within a city or between cities with a maximum distance up to 100 kilometers from urban areas. Also, these systems are used on short trips across rivers where hydraulic power steering cannot be installed due to space constraints on river boats or ferries hence driving their demand across various regions including North America, Europe and Asia Pacific.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing increasing demand for commercial vehicles, particularly light commercial vehicles, due to rapid urbanization and industrial growth. Moreover, rising disposable income of consumers is anticipated to fuel the regional market growth over the forecast period.
The Asia Pacific regional market includes developing economies such as India and China that are experiencing strong economic growth owing to various factors such as low interest rates on loans along with affordable housing loans; improving standard of living due to rising per capita income; growing population; expanding middle-class population along with increasing foreign investments in these economies have led manufacturers in this region towards expansion plans which will boost product demand further.
Growth Factors:
- Increasing demand for light commercial vehicles
- Growing awareness about the benefits of hydraulic steering systems over traditional mechanical steering systems
- Rising demand for fuel-efficient and environment-friendly vehicles
- Technological advancements in hydraulic steering system design and manufacturing processes
- Growing popularity of electric and hybrid light commercial vehicles
Scope Of The Report
Report Attributes
Report Details
Report Title
Light Commercial Vehicle Hydraulic Steering System Market Research Report
By Type
Pure Hydraulic Steering System, Electro-Hydraulic Steering System
By Application
Long Distance, Short Distance
By Companies
JTEKT, Bosch, Nexteer, ZF, Showa, Thyssenkrupp
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
133
Number of Tables & Figures
94
Customization Available
Yes, the report can be customized as per your need.
Global Light Commercial Vehicle Hydraulic Steering System Market Report Segments:
The global Light Commercial Vehicle Hydraulic Steering System market is segmented on the basis of:
Types
Pure Hydraulic Steering System, Electro-Hydraulic Steering System
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
Long Distance, Short Distance
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:
- JTEKT
- Bosch
- Nexteer
- ZF
- Showa
- Thyssenkrupp
Highlights of The Light Commercial Vehicle Hydraulic Steering System 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:
- Pure Hydraulic Steering System
- Electro-Hydraulic Steering System
- By Application:
- Long Distance
- Short Distance
- 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 Light Commercial Vehicle Hydraulic Steering System 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
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?
A light commercial vehicle hydraulic steering system is a type of hydraulic steering system used on small to medium-sized trucks, vans, and SUVs. It uses hydraulics to provide power for the steerable wheel(s).
Some of the major players in the light commercial vehicle hydraulic steering system market are JTEKT, Bosch, Nexteer, ZF, Showa, Thyssenkrupp.
The light commercial vehicle hydraulic steering system market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Light Commercial Vehicle Hydraulic Steering System 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 Light Commercial Vehicle Hydraulic Steering System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Light Commercial Vehicle Hydraulic Steering System 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 Light Commercial Vehicle Hydraulic Steering System 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 Light Commercial Vehicle Hydraulic Steering System Market Size & Forecast, 2018-2028
4.5.1 Light Commercial Vehicle Hydraulic Steering System Market Size and Y-o-Y Growth
4.5.2 Light Commercial Vehicle Hydraulic Steering System Market Absolute $ Opportunity
Chapter 5 Global Light Commercial Vehicle Hydraulic Steering System 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 Light Commercial Vehicle Hydraulic Steering System Market Size Forecast by Type
5.2.1 Pure Hydraulic Steering System
5.2.2 Electro-Hydraulic Steering System
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Light Commercial Vehicle Hydraulic Steering System 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 Light Commercial Vehicle Hydraulic Steering System Market Size Forecast by Applications
6.2.1 Long Distance
6.2.2 Short Distance
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Light Commercial Vehicle Hydraulic Steering System 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 Light Commercial Vehicle Hydraulic Steering System 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 Light Commercial Vehicle Hydraulic Steering System Analysis and Forecast
9.1 Introduction
9.2 North America Light Commercial Vehicle Hydraulic Steering System 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 Light Commercial Vehicle Hydraulic Steering System Market Size Forecast by Type
9.6.1 Pure Hydraulic Steering System
9.6.2 Electro-Hydraulic Steering System
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 Light Commercial Vehicle Hydraulic Steering System Market Size Forecast by Applications
9.10.1 Long Distance
9.10.2 Short Distance
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 Light Commercial Vehicle Hydraulic Steering System Analysis and Forecast
10.1 Introduction
10.2 Europe Light Commercial Vehicle Hydraulic Steering System 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 Light Commercial Vehicle Hydraulic Steering System Market Size Forecast by Type
10.6.1 Pure Hydraulic Steering System
10.6.2 Electro-Hydraulic Steering System
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 Light Commercial Vehicle Hydraulic Steering System Market Size Forecast by Applications
10.10.1 Long Distance
10.10.2 Short Distance
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 Light Commercial Vehicle Hydraulic Steering System Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Light Commercial Vehicle Hydraulic Steering System 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 Light Commercial Vehicle Hydraulic Steering System Market Size Forecast by Type
11.6.1 Pure Hydraulic Steering System
11.6.2 Electro-Hydraulic Steering System
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 Light Commercial Vehicle Hydraulic Steering System Market Size Forecast by Applications
11.10.1 Long Distance
11.10.2 Short Distance
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 Light Commercial Vehicle Hydraulic Steering System Analysis and Forecast
12.1 Introduction
12.2 Latin America Light Commercial Vehicle Hydraulic Steering System 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 Light Commercial Vehicle Hydraulic Steering System Market Size Forecast by Type
12.6.1 Pure Hydraulic Steering System
12.6.2 Electro-Hydraulic Steering System
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 Light Commercial Vehicle Hydraulic Steering System Market Size Forecast by Applications
12.10.1 Long Distance
12.10.2 Short Distance
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) Light Commercial Vehicle Hydraulic Steering System Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Light Commercial Vehicle Hydraulic Steering System 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) Light Commercial Vehicle Hydraulic Steering System Market Size Forecast by Type
13.6.1 Pure Hydraulic Steering System
13.6.2 Electro-Hydraulic Steering System
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) Light Commercial Vehicle Hydraulic Steering System Market Size Forecast by Applications
13.10.1 Long Distance
13.10.2 Short Distance
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 Light Commercial Vehicle Hydraulic Steering System Market: Competitive Dashboard
14.2 Global Light Commercial Vehicle Hydraulic Steering System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 JTEKT
14.3.2 Bosch
14.3.3 Nexteer
14.3.4 ZF
14.3.5 Showa
14.3.6 Thyssenkrupp
