Market Synopsys:

Delivering simplified tuning, engine-off steering assist, and packaging flexibility are the key factors considered for the increasing adoption of active power steering in commercial vehicles during the forecast period. In addition, environmental compatibility and energy efficiency are other factors which are expected to drive the market demand for active power steering in commercial vehicles. Power steering is the system that assists in steering the wheels by means of power of the engine and generally uses hydraulics or fluid pressure to support the steering systems. The active power steering systems usually works on hydraulic and electrical steering mechanisms, which are quicker to assist in comparison with manual steering systems. Numerous advantages offered by power steering systems including minimum efforts at grater safety, absorbing road shocks, and better controllability under critical conditions are presumed to augment the global market demand in automotive industry.

Key Players in CV active power steering market

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), Robert Bosch GmbH (Germany), Daimler AG (Germany).

https://www.marketresearchfuture.com/reports/commercial-vehicle-active-power-steering-market-6904


Global Commercial Vehicle (CV) active power steering market is expected to witness ~12% CAGR during the period 2018 to 2023.

Commercial Vehicle (CV) Active Power Steering Market Regional Analysis:

North America is predicted to emerge as the global market leader in terms of revenue, followed by Europe. Moreover, Stringent governmental regulations in India has led to the increment in the maximum weight that heavy trucks can bear in order to reduce the crackdowns and overloading’s, which is anticipated to fuel the APAC active power steering market over the forecast period.

This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging & high-growth segments.

The market data comprises the basic assessment of the competitive scenarios and strategies in the global automotive constant velocity joint market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis.



Commercial Vehicle (CV) Active Power Steering Market Segmentation :

The global commercial vehicle active power steering market has been segmented into type, applications, and region. On the basis of type, the market is segmented into hydraulic power steering (HPS), electric power steering (EPS), and electro-hydraulic power steering (EHPS). Hydraulic power steering systems have a straight mechanical connection between the steering wheel and the link that steers the wheels which permits the vehicle to be steered using manual efforts during power steering system failure. Moreover, HPS provides various features to deliver efficient power transmission such as ease of maintenance, higher accuracy of control, multiplication of force, constant force and torque, and widely used in heavy commercial vehicles.

However, HPS requires more maintenance as compared to other power steering systems. Low durability, high maintenance, difficulty to get rid of leaks in a hydraulic system are the restraining factors considered in HPS. Electric power steering is driving the power steering systems market owing to direct attached electric motor to the steering rack or to the steering column, which controls the steering dynamics of the commercial vehicle.

Moreover, elimination of environmental threats imposed by leakage and disposal of hydraulic power steering fluids is driving the EPS market. In addition, features such as no loss of electrical assistance during engine failure, fuel efficiency, elimination of belt-driven engine accessory are expected to augment the market demand for EPS over the forecast period.

Based on application, the market is segmented into light commercial vehicle (LCV), medium commercial vehicle (MCV), and heavy commercial vehicle (HCV). Hydraulic power steering is widely used in MCVs and HCVs owing to easy multiplication of forces from a fraction of a pound to hundred tons of output. Moreover, HPS can deliver a constant torque regardless of frequent changes in speed and presumed to expand the commercial vehicle active power steering market during the forecast period. Based on region, the market is divided into four major regions, North America, Europe, Asia-Pacific, and The Rest of the World.

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