Market size and development status
According to the latest industry data, the scale of China's commercial vehicle electronic axle market will continue to expand in 2024, and the global commercial vehicle electronic axle market is expected to grow from 72.49 billion yuan in 2024 to 128.33 billion yuan in 2031, with a compound annual growth rate of 7.4%. This growth is mainly due to the rapid popularization of new energy commercial vehicles and the continuous maturity of intelligent driving technology.
Key data: In 2024, commercial vehicles will account for approximately 35% of the installation of rear axle steering systems, with about 35% of new production vehicles in heavy-duty trucks equipped with rear axle steering technology, significantly improving vehicle maneuverability in narrow spaces.
Technological development trends
The technology of commercial vehicle steering axles is undergoing a critical stage of transformation from traditional mechanical to electronic and intelligent. The penetration rate of electric power steering (EPS) systems in the global commercial vehicle sector continues to increase, reaching 71.95% market share by 2024.
As an important direction for future development, wire controlled steering technology is expected to achieve a penetration rate of 5% by 2025 and 30% by 2030. The size of the Chinese market is expected to soar from 6.3 billion yuan in 2025 to 37.6 billion yuan in 2030.
Main production enterprise pattern
The Chinese commercial vehicle steering axle market presents a competitive landscape dominated by leading enterprises. According to the 2025 Car Bridge Brand Ranking, the top ten companies occupy the main market share:
1. HD axle
Established by Weichai Power and Shaanxi Automobile Group, it has an annual production capacity of 1.5 million various types of bridge assemblies, ranking first in the country in terms of annual production and sales for nine consecutive years.
2. Dongfeng DN
Dongfeng Motor and Dana Corporation of the United States jointly produce 1 million axle assemblies annually, with the most complete product range.
3. QT Group
Established in 1958, it has an annual production capacity of 1.1 million sets of vehicle axles and is an important export base for specialized vehicles and components.
4. Yihe Axle
Established in 1994, with an annual output of 1.2 million sets, it is in a leading position in the field of new pneumatic disc brake front axles.
Regional distribution characteristics
There is a significant agglomeration effect in the geographical distribution of commercial vehicle steering axle production enterprises. Shandong Province, as an important domestic automobile parts production base, has well-known enterprises such as Yihe Axle and Qingte Group. Hubei Province, represented by Dongfeng Dena, has formed a complete industrial chain of medium and heavy-duty commercial vehicles.
Industrial agglomeration data: The scale of the automotive parts industry in Shandong Province is expected to reach 500 billion yuan by the end of 2025, forming a development pattern of "two cores leading and multi-point support" led by Jinan and Qingdao.
Future Development Prospects
With the full implementation of the National VI emission standards and the rapid development of the new energy commercial vehicle market, the commercial vehicle steering axle industry is ushering in new development opportunities. It is expected that by 2030, the market size of commercial vehicle steering axles in China will double, driven mainly by:
The penetration rate of new energy commercial vehicles has increased, leading to an increased demand for lightweight and intelligent steering systems
The development of autonomous driving technology promotes the commercial application of steer by wire systems
The demand for logistics transportation efficiency has been improved, promoting the growth of demand for high-end steering axle products
Export market expansion, and the "the Belt and Road" initiative drives overseas market demand
Challenges and opportunities coexist
Despite the broad market prospects, the commercial vehicle steering axle industry still faces many challenges. Fluctuations in raw material prices, shortages of technical personnel, and international trade frictions may all affect the development of the industry. At the same time, enterprises need to continue investing in technological innovation, quality control, cost management, and other aspects to cope with increasingly fierce market competition.
Looking ahead to the future, with the deepening of the Made in China 2025 strategy, the commercial vehicle steering axle industry will develop towards a more intelligent, lightweight, and green direction, contributing important forces to the transformation and upgrading of China's automotive industry.