Medium And Heavy Duty Truck Steering Systems Market

By Component;

Hydraulic Steering, Electric Power Steering and Electro-Hydraulic Steering

By Vehicle Type;

Medium-Duty Trucks and Heavy-Duty Trucks

By Application;

OEM and Aftermarket

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031)
Report ID: Rn509936085 Published Date: September, 2025 Updated Date: October, 2025

Medium And Heavy Duty Truck Steering System Market Overview

Medium And Heavy Duty Truck Steering System Market (USD Million)

Medium And Heavy Duty Truck Steering System Market was valued at USD 2,080.90 million in the year 2024. The size of this market is expected to increase to USD 2,406.75 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 2.1%.


Medium And Heavy Duty Truck Steering Systems Market

*Market size in USD million

CAGR 2.1 %


Study Period2025 - 2031
Base Year2024
CAGR (%)2.1 %
Market Size (2024)USD 2,080.90 Million
Market Size (2031)USD 2,406.75 Million
Market ConcentrationHigh
Report Pages393
2,080.90
2024
2,406.75
2031

Major Players

  • Daimler AG
  • Volvo Group
  • PACCAR Inc.
  • Navistar International Corporation
  • Volkswagen Truck & Bus
  • AB Volvo
  • Scania AB
  • MAN Truck & Bus AG
  • Iveco S.p.A.
  • Hino Motors, Ltd.
  • Isuzu Motors Limited
  • Tata Motors Limited
  • Dongfeng Motor Corporation
  • Sinotruk (Hong Kong) Limited
  • FAW Group Corporation

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Medium And Heavy Duty Truck Steering Systems Market

Fragmented - Highly competitive market without dominant players


The Medium and Heavy Duty Truck Steering Systems Market is expanding steadily as industries demand safer and more reliable transportation solutions. Nearly 46% of fleet operators are investing in vehicles with modern steering systems to improve control, minimize fatigue, and ensure long-distance dependability. Emphasis on safety features and performance upgrades continues to strengthen growth in this sector.

Rising Safety Requirements
With safety a top priority, approximately 51% of logistics and trucking firms are adopting steering technologies that deliver greater stability and accident reduction. These systems are designed to manage heavy-duty loads, making them indispensable in freight and commercial applications.

Adoption of Electronic Steering
The move toward electronic steering solutions is reshaping the industry. More than 39% of new vehicles now feature electronic power steering for smoother driving, improved energy use, and lower upkeep expenses. This trend highlights the growing reliance on technology-driven systems.

Strategic Advancements
Ongoing research and development is driving progress, with about 28% of market participants focusing on hydraulic upgrades, sensor integration, and smart steering functionalities. Such initiatives are enhancing product portfolios while aligning with the industry’s broader modernization goals.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Component
    2. Market Snapshot, By Vehicle Type
    3. Market Snapshot, By Application
    4. Market Snapshot, By Region
  4. Medium And Heavy Duty Truck Steering System Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Global transportation growth
        2. Medium/heavy truck demand rise
        3. Steering system tech advancements
        4. Electric/hybrid truck demand
        5. Urbanization boosts delivery needs
      2. Restraints
        1. Regulatory hurdles
        2. Limited aftermarket scope
        3. Cybersecurity concerns
        4. Driver shortage challenges
      3. Opportunities
        1. Electric vehicle infrastructure expansion
        2. Connected truck demand rise
        3. Advanced material development
        4. Predictive maintenance adoption
        5. Safety feature integration
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Medium And Heavy Duty Truck Steering Systems Market, By Component, 2021 - 2031 (USD Million)
      1. Hydraulic Steering
      2. Electric Power Steering
      3. Electro-Hydraulic Steering
    2. Medium And Heavy Duty Truck Steering Systems Market, By Vehicle Type, 2021 - 2031 (USD Million)
      1. Medium-Duty Trucks
      2. Heavy-Duty Trucks
    3. Medium And Heavy Duty Truck Steering Systems Market, By Application, 2021 - 2031 (USD Million)
      1. OEM
      2. Aftermarket
    4. Medium And Heavy Duty Truck Steering System Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Daimler AG
      2. Volvo Group
      3. PACCAR Inc.
      4. Navistar International Corporation
      5. Volkswagen Truck & Bus
      6. AB Volvo
      7. Scania AB
      8. MAN Truck & Bus AG
      9. Iveco S.p.A.
      10. Hino Motors, Ltd.
      11. Isuzu Motors Limited
      12. Tata Motors Limited
      13. Dongfeng Motor Corporation
      14. Sinotruk (Hong Kong) Limited
      15. FAW Group Corporation
  7. Analyst Views
  8. Future Outlook of the Market