세계의 OTR 파워 스티어링 시장 : 기구별, 컴포넌트별, 지역별 경쟁, 산업 규모, 점유율, 동향, 기회 및 예측(2021-2031년)

The Global OTR Power Steering Market will grow from USD 2.29 Billion in 2025 to USD 3.54 Billion by 2031 at a 7.53% CAGR. The Global OTR Power Steering Market consists of hydraulic and electric steering systems designed for large machinery used in construction, mining, and agriculture. These components are essential for ensuring maneuverability and reducing operator fatigue across uneven terrains.

Key Market Drivers

Rapid expansion of global construction and infrastructure development projects acts as a primary catalyst for the OTR power steering sector. As urbanization accelerates, there is a substantial requirement for heavy-duty machinery such as articulated dump trucks, wheel loaders, and motor graders that operate in confined or hazardous sites. These applications necessitate responsive steering systems to ensure operator safety and load stability while maneuvering heavy payloads. Consequently, original equipment manufacturers are scaling production to meet this investment surge, directly benefiting component suppliers.

Key Market Challenges

The substantial financial burden associated with repairing advanced hydraulic steering systems stands as a formidable barrier to the expansion of the Global OTR Power Steering Market. As these steering units become more integral to modern machinery, the elevated cost of maintaining and servicing them increases the total cost of ownership for fleet operators. In price-sensitive regions, this expense discourages businesses from retiring aging fleets, leading companies to delay the procurement of new, technologically compliant machinery.

Key Market Trends

The transition toward zero-emission powertrains is fundamentally altering steering architectures, necessitating a shift from engine-driven hydraulics to electric and electro-hydraulic solutions. As manufacturers electrify fleets to meet decarbonization targets, traditional engine-dependent steering units are being replaced by electric motor-driven pumps or fully electric actuators. This ensures steering efficiency in battery-electric architectures by decoupling hydraulic flow from engine speed, a critical requirement for next-generation machinery.

Key Market Players

• Showa Corporation
• Nexteer Automotive Corporation
• NSK Ltd.
• JTEKT Corporation
• Robert Bosch GmbH
• Mando Corporation
• Sona Corporation
• ZF Friedrichshafen AG
• Hitachi Limited
• Danfoss Power Solutions

Report Scope:

In this report, the Global OTR Power Steering Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

OTR Power Steering Market, By Mechanism:

• Electronic power steering (EPS)
• Hydraulic power steering (HPS) and Electro-Hydraulic Power Steering

OTR Power Steering Market, By Component:

• Hydraulic Pump
• Sensors
• Electric Motor and other components

OTR Power Steering Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global OTR Power Steering Market.

Available Customizations:

Global OTR Power Steering Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Table of Contents

1. Product Overview

• 1.1. Market Definition
• 1.2. Scope of the Market
  • 1.2.1. Markets Covered
  • 1.2.2. Years Considered for Study
  • 1.2.3. Key Market Segmentations

2. Research Methodology

• 2.1. Objective of the Study
• 2.2. Baseline Methodology
• 2.3. Key Industry Partners
• 2.4. Major Association and Secondary Sources
• 2.5. Forecasting Methodology
• 2.6. Data Triangulation & Validation
• 2.7. Assumptions and Limitations

3. Executive Summary

• 3.1. Overview of the Market
• 3.2. Overview of Key Market Segmentations
• 3.3. Overview of Key Market Players
• 3.4. Overview of Key Regions/Countries
• 3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global OTR Power Steering Market Outlook

• 5.1. Market Size & Forecast
  • 5.1.1. By Value
• 5.2. Market Share & Forecast
  • 5.2.1. By Mechanism (Electronic power steering (EPS), Hydraulic power steering (HPS) and Electro-Hydraulic Power Steering)
  • 5.2.2. By Component (Hydraulic Pump, Sensors, Electric Motor and other components)
  • 5.2.3. By Region
  • 5.2.4. By Company (2025)
• 5.3. Market Map

6. North America OTR Power Steering Market Outlook

• 6.1. Market Size & Forecast
  • 6.1.1. By Value
• 6.2. Market Share & Forecast
  • 6.2.1. By Mechanism
  • 6.2.2. By Component
  • 6.2.3. By Country
• 6.3. North America: Country Analysis
  • 6.3.1. United States OTR Power Steering Market Outlook
    • 6.3.1.1. Market Size & Forecast
      • 6.3.1.1.1. By Value
    • 6.3.1.2. Market Share & Forecast
      • 6.3.1.2.1. By Mechanism
      • 6.3.1.2.2. By Component
  • 6.3.2. Canada OTR Power Steering Market Outlook
    • 6.3.2.1. Market Size & Forecast
      • 6.3.2.1.1. By Value
    • 6.3.2.2. Market Share & Forecast
      • 6.3.2.2.1. By Mechanism
      • 6.3.2.2.2. By Component
  • 6.3.3. Mexico OTR Power Steering Market Outlook
    • 6.3.3.1. Market Size & Forecast
      • 6.3.3.1.1. By Value
    • 6.3.3.2. Market Share & Forecast
      • 6.3.3.2.1. By Mechanism
      • 6.3.3.2.2. By Component

7. Europe OTR Power Steering Market Outlook

• 7.1. Market Size & Forecast
  • 7.1.1. By Value
• 7.2. Market Share & Forecast
  • 7.2.1. By Mechanism
  • 7.2.2. By Component
  • 7.2.3. By Country
• 7.3. Europe: Country Analysis
  • 7.3.1. Germany OTR Power Steering Market Outlook
    • 7.3.1.1. Market Size & Forecast
      • 7.3.1.1.1. By Value
    • 7.3.1.2. Market Share & Forecast
      • 7.3.1.2.1. By Mechanism
      • 7.3.1.2.2. By Component
  • 7.3.2. France OTR Power Steering Market Outlook
    • 7.3.2.1. Market Size & Forecast
      • 7.3.2.1.1. By Value
    • 7.3.2.2. Market Share & Forecast
      • 7.3.2.2.1. By Mechanism
      • 7.3.2.2.2. By Component
  • 7.3.3. United Kingdom OTR Power Steering Market Outlook
    • 7.3.3.1. Market Size & Forecast
      • 7.3.3.1.1. By Value
    • 7.3.3.2. Market Share & Forecast
      • 7.3.3.2.1. By Mechanism
      • 7.3.3.2.2. By Component
  • 7.3.4. Italy OTR Power Steering Market Outlook
    • 7.3.4.1. Market Size & Forecast
      • 7.3.4.1.1. By Value
    • 7.3.4.2. Market Share & Forecast
      • 7.3.4.2.1. By Mechanism
      • 7.3.4.2.2. By Component
  • 7.3.5. Spain OTR Power Steering Market Outlook
    • 7.3.5.1. Market Size & Forecast
      • 7.3.5.1.1. By Value
    • 7.3.5.2. Market Share & Forecast
      • 7.3.5.2.1. By Mechanism
      • 7.3.5.2.2. By Component

8. Asia Pacific OTR Power Steering Market Outlook

• 8.1. Market Size & Forecast
  • 8.1.1. By Value
• 8.2. Market Share & Forecast
  • 8.2.1. By Mechanism
  • 8.2.2. By Component
  • 8.2.3. By Country
• 8.3. Asia Pacific: Country Analysis
  • 8.3.1. China OTR Power Steering Market Outlook
    • 8.3.1.1. Market Size & Forecast
      • 8.3.1.1.1. By Value
    • 8.3.1.2. Market Share & Forecast
      • 8.3.1.2.1. By Mechanism
      • 8.3.1.2.2. By Component
  • 8.3.2. India OTR Power Steering Market Outlook
    • 8.3.2.1. Market Size & Forecast
      • 8.3.2.1.1. By Value
    • 8.3.2.2. Market Share & Forecast
      • 8.3.2.2.1. By Mechanism
      • 8.3.2.2.2. By Component
  • 8.3.3. Japan OTR Power Steering Market Outlook
    • 8.3.3.1. Market Size & Forecast
      • 8.3.3.1.1. By Value
    • 8.3.3.2. Market Share & Forecast
      • 8.3.3.2.1. By Mechanism
      • 8.3.3.2.2. By Component
  • 8.3.4. South Korea OTR Power Steering Market Outlook
    • 8.3.4.1. Market Size & Forecast
      • 8.3.4.1.1. By Value
    • 8.3.4.2. Market Share & Forecast
      • 8.3.4.2.1. By Mechanism
      • 8.3.4.2.2. By Component
  • 8.3.5. Australia OTR Power Steering Market Outlook
    • 8.3.5.1. Market Size & Forecast
      • 8.3.5.1.1. By Value
    • 8.3.5.2. Market Share & Forecast
      • 8.3.5.2.1. By Mechanism
      • 8.3.5.2.2. By Component

9. Middle East & Africa OTR Power Steering Market Outlook

• 9.1. Market Size & Forecast
  • 9.1.1. By Value
• 9.2. Market Share & Forecast
  • 9.2.1. By Mechanism
  • 9.2.2. By Component
  • 9.2.3. By Country
• 9.3. Middle East & Africa: Country Analysis
  • 9.3.1. Saudi Arabia OTR Power Steering Market Outlook
    • 9.3.1.1. Market Size & Forecast
      • 9.3.1.1.1. By Value
    • 9.3.1.2. Market Share & Forecast
      • 9.3.1.2.1. By Mechanism
      • 9.3.1.2.2. By Component
  • 9.3.2. UAE OTR Power Steering Market Outlook
    • 9.3.2.1. Market Size & Forecast
      • 9.3.2.1.1. By Value
    • 9.3.2.2. Market Share & Forecast
      • 9.3.2.2.1. By Mechanism
      • 9.3.2.2.2. By Component
  • 9.3.3. South Africa OTR Power Steering Market Outlook
    • 9.3.3.1. Market Size & Forecast
      • 9.3.3.1.1. By Value
    • 9.3.3.2. Market Share & Forecast
      • 9.3.3.2.1. By Mechanism
      • 9.3.3.2.2. By Component

10. South America OTR Power Steering Market Outlook

• 10.1. Market Size & Forecast
  • 10.1.1. By Value
• 10.2. Market Share & Forecast
  • 10.2.1. By Mechanism
  • 10.2.2. By Component
  • 10.2.3. By Country
• 10.3. South America: Country Analysis
  • 10.3.1. Brazil OTR Power Steering Market Outlook
    • 10.3.1.1. Market Size & Forecast
      • 10.3.1.1.1. By Value
    • 10.3.1.2. Market Share & Forecast
      • 10.3.1.2.1. By Mechanism
      • 10.3.1.2.2. By Component
  • 10.3.2. Colombia OTR Power Steering Market Outlook
    • 10.3.2.1. Market Size & Forecast
      • 10.3.2.1.1. By Value
    • 10.3.2.2. Market Share & Forecast
      • 10.3.2.2.1. By Mechanism
      • 10.3.2.2.2. By Component
  • 10.3.3. Argentina OTR Power Steering Market Outlook
    • 10.3.3.1. Market Size & Forecast
      • 10.3.3.1.1. By Value
    • 10.3.3.2. Market Share & Forecast
      • 10.3.3.2.1. By Mechanism
      • 10.3.3.2.2. By Component

11. Market Dynamics

• 11.1. Drivers
• 11.2. Challenges

12. Market Trends & Developments

• 12.1. Merger & Acquisition (If Any)
• 12.2. Product Launches (If Any)
• 12.3. Recent Developments

13. Global OTR Power Steering Market: SWOT Analysis

14. Porter's Five Forces Analysis

• 14.1. Competition in the Industry
• 14.2. Potential of New Entrants
• 14.3. Power of Suppliers
• 14.4. Power of Customers
• 14.5. Threat of Substitute Products

15. Competitive Landscape

• 15.1. Showa Corporation
  • 15.1.1. Business Overview
  • 15.1.2. Products & Services
  • 15.1.3. Recent Developments
  • 15.1.4. Key Personnel
  • 15.1.5. SWOT Analysis
• 15.2. Nexteer Automotive Corporation
• 15.3. NSK Ltd.
• 15.4. JTEKT Corporation
• 15.5. Robert Bosch GmbH
• 15.6. Mando Corporation
• 15.7. Sona Corporation
• 15.8. ZF Friedrichshafen AG
• 15.9. Hitachi Limited
• 15.10. Danfoss Power Solutions

16. Strategic Recommendations

17. About Us & Disclaimer