Commercial Vehicle (CV) Active Power Steering Market Global Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2021 to 2027

Commercial Vehicle (CV) Active Power Steering Market volume is expected to grow from 12,572 units in 2016 to 955,233 by 2027 at a CAGR of 18% between 2021 and 2027.

A commercial vehicle (CV) active power steering system enhances controlled energy in the steering mechanism to minimize effort to turn the steering wheel while driving at normal speed. Active power steering systems in large commercial vehicles minimize the driver’s physical difficulties while turning the steering wheel when the vehicle is stationary or moving. The introduction of advanced assistive features in power steering to increase vehicle safety is expected to have a significant impact over the forecast period. Advanced Active Power Steering is user-friendly and highly compatible with advanced assistance systems, so it is presumed that in the near future we will see a variety of on-the-fly innovative steering assistance features. Important factors such as road safety for drivers, fuel-efficient driving solutions and reliable driving with minimal effort are being considered in the global automotive industry today.

Market Segments

By  Product

• Electric Power Steering (EPS)
• Electro-Hydraulic Power Steering (EHPS)
• Other

By Application

• Medium Commercial Vehicle
• Heavy Commercial Vehicle

Key Players

The prominent market players in the global CV active power steering market include ZF Friedrichshafen AG (Germany), AB Volvo (Sweden), Tedrive steering systems GmbH (Germany), Ognibene Power SPA (Italy), BMW AG (Germany), Knorr-Bremse (Germany), Bosch (Germany), Daimler AG (Germany).

Scope of the Report

The research study analyzes the global Commercial Vehicle (CV) Active Power Steering industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by Commercial Vehicle (CV) Active Power Steering Market Report

1. What was the Commercial Vehicle (CV) Active Power Steering Market size in 2019 and 2020; what are the estimated growth trends and market forecast (2021-2027).

2. What will be the CAGR of the Commercial Vehicle (CV) Active Power Steering Market during the forecast period (2021-2027)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2021? How these segments are expected to grow during the forecast period (2021-2027).
4. Which manufacturer/vendor/players in the Commercial Vehicle (CV) Active Power Steering Market was the market leader in 2020?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.