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Commercial Vehicle (CV) Active Power Steering Market 2020: Business Trends, COVID – 19 Outbreak, Competitor Strategy, Industry Profit Growth, Landscape and Demand

Chaitali Mahajan
Commercial Vehicle (CV) Active Power Steering Market 2020: Business Trends, COVID – 19 Outbreak, Competitor Strategy, Industry Profit Growth, Landscape and Demand

Market Research Future (MRFR), in its latest report on the global Commercial Vehicle (CV) Active Power Steering market 2020, reveals different aspects of the market and potential forces that can impact the market dynamics. The influence of COVID 19 outbreak on the market is also revealed in the report. As per MRFR data, the Commercial Vehicle (CV) Active Power Steering market can register 12% CAGR across the review period.

Active power steering is installed in the commercial vehicles in order to provide total access to steering mechanism of the vehicle when the vehicle is stopped or in low speed. The power steering system enables the drivers to achieve maximum control while turning the wheels of heavy and medium commercial vehicles at typical speeds. Various considerations including fuel efficient driving solutions, ease in driving, driver’s road safety, less physical efforts while turning the vehicles are expected to increase the market demand for active power steering in the automotive industry.

Moreover, hydraulic power steering system (HPS) is widely used for medium commercial vehicle (MCV) and heavy commercial vehicle (HCV) owing to rising penetration of steer-by-wire technology. The technology offers various advantages such as reliability, better performance, and safety with lower manufacturing and operating costs coupled with improved fuel economy. However, wastage of power in HPS leads to higher fuel emission coupled with safety threats in heavy commercial vehicles, acts as the restraining factor and presumed to hinder the market during the forecast period.

Top Companies Profiled in Commercial Vehicle (CV) Active Power Steering Market Research Report: 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).

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Scope of the Report

This study provides an overview of the global commercial vehicle (CV) active power steering market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The scope of the study segments the global commercial vehicle (CV) active power steering market by type, application, and region.

By Type

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

By Application

  • Light Commercial Vehicle
  • Medium Commercial Vehicle
  • Heavy Commercial Vehicle

By Region

  • North America
  • Europe
  • Asia-Pacific
  • The Rest of the World (ROW)

North America is predicted to grow at the highest CAGR followed by Europe and Asia-Pacific. Rapidly growing logistic economies in Asia-Pacific coupled with substantial growth in e-commerce is expected to open the opportunity window for increasing adoption of active power steering market. 

If you have any requirements, let know and we will customize the report according to your need.

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


  1. Market Introduction
  2. Research Methodology
  3. Market Dynamics
  4. Executive Summary
  5. Market Factor Analysis
  6. Commercial vehicle (CV) active power steering Market, By Segments
  7. Competitive Analysis


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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Chaitali Mahajan
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