Global Medium and Heavy-duty Truck Steering System Market 2022-2026

Global Medium and Heavy-duty Truck Steering System Market 2022-2026

Technavio has been monitoring the medium and heavy-duty truck steering system market and it is poised to grow by 1401.00 thousand units during 2022-2026 progressing at a CAGR of 7.05% during the forecast period. Our report on the medium and heavy-duty truck steering system market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by dynamic steering for medium and heavy-duty trucks and the growth of medium and heavy-duty trucks in India and Eastern Europe.

The medium and heavy-duty truck steering system market analysis includes application and type segments and geographic landscape.

Technavio's medium and heavy-duty truck steering system market is segmented as below:

By Application

• Medium-duty truck
• Heavy-duty truck

By Geographical Landscape

• APAC
• North America
• Europe
• South America
• MEA

By Type

• Hydraulic power steering
• Electro-hydraulic power steering
• Electric power steering

This study identifies the increasing need for enhanced safety, performance, and driver comfortas one of the prime reasons driving the medium and heavy-duty truck steering system market growth during the next few years.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on medium and heavy-duty truck steering system market covers the following areas:

• Medium and heavy-duty truck steering system market sizing
• Medium and heavy-duty truck steering system market forecast
• Medium and heavy-duty truck steering system market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading medium and heavy-duty truck steering system market vendors that include AB Volvo, China Automotive Systems Inc., Hyundai Motor Co., JTEKT Corp., Knorr-Bremse AG, Mando Corp., Nexteer Automotive Group Ltd., Robert Bosch GmbH, thyssenkrupp AG, and ZF Friedrichshafen AG. Also, the medium and heavy-duty truck steering system market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Companies Mentioned

AB Volvo, China Automotive Systems Inc., Hyundai Motor Co., JTEKT Corp., Knorr-Bremse AG, Mando Corp., Nexteer Automotive Group Ltd., Robert Bosch GmbH, thyssenkrupp AG, ZF Friedrichshafen AG