Market Research Report
Steering Columns System Market - Forecast (2020 - 2025)
|Published by||IndustryARC||Product code||351169|
|Published||Content info||109 Pages
Delivery time: 2-3 business days
|Steering Columns System Market - Forecast (2020 - 2025)|
|Published: March 11, 2020||Content info: 109 Pages||
The global Steering columns market is estimated to surpass $19 billion by 2024 growing at more than 10% during the forecast period 2018 to 2024. Approximately 120 Million steering column were sold in 2017, China appeared to be the market leader with 31 Million steering columns. Passenger cars constituted for 65% of market share and were the huge demand generators for the steering columns. Electric power steering systems is gaining traction because the technology provides better fuel economy as compared to the hydraulic power steering system.
Market Research and Market Trends of Steering Columns Ecosystem
Steering columns are now being connected to on-board network, enabling the vehicles to provide assistance while driving. Functions such as lane-keeping, hands-on-wheel detection and traffic jam assist can be enabled using the on-board network. This would further assist the companies to achieve level 4 automation and provide better safety in level 3 automation. Manually adjusted steering columns will allow the driver to adjust the height and depth of the steering according to his own comfort.
Electric powered steering system play a major role in the electrification of drive train. The increasing demand for electric vehicles is further driving the market for automotive steering columns system market.
The demand for electronic based steering systems which are integrated in to electric vehicles has increased exponentially. In-addition the electronically controlled steering being the basic requirement for implementing automated driving system, and with the increasing demand for electric vehicles the automotive steering systems market would experience positive growth.
Majority of the companies manufacturing automotive steering systems are investing in R&D aiming to link steering system with on-board computers, increase safety of the vehicle using collapsible steering columns and develop electronically controlled steering for electrification of drivetrain.
To improve the safety of the vehicles, companies have started developing impact absorbing steering columns. Companies such as NSK are involved in developing collapsible columns which can absorb load during a collision. The company is also developing pivot tilt steering column and Telescopic Steering Column for Trucks which adds rigidity for heavy vehicles. Robert Bosch's steering column system technology, Servo electric enables driver assistance functions and helps to reduce the vehicle's fuel consumption. The production of this technology marks the first time that Bosch is producing this innovative steering system in Mexico.
Recirculating Ball & Nut Steering System find huge replacement demand from old trucks and SUVs. Although the new automobiles are equipped with rack and pinion steering system, very few companies such as Chrysler and General Motors incorporate the Recirculating Ball Steering System technology in a few models. The demand for chrome steering columns is also gaining prominence in the classic vehicle models.
The Electric power steering (EPS) has becoming much more common given that it's more efficient and low cost. It eliminates the use of many components such as pump, hoses, fluid, drive belt, and pulley. This also leads to a reduction is size of the steering column when compared to the hydraulic steering systems.
Who are the Major Players in Steering Column market?
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2024.
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Steering Columns Market
What is Steering Column?
The Automotive Steering Column is a device intended primarily for connecting the steering wheel to the steering mechanism or transferring the driver's input torque from the steering wheel. The steering column consists of a collapsible housing containing a collapsible rotating shaft. The steering column is connected to the input shaft of the steering gear by a flexible joint. This allows the alignment, and reduces the transmission of road shocks back to the driver. Some of the steering columns have an intermediate shaft, which runs at about an oblique angle, from the column to the steering gear. Some manufacturers of steering columns system fit sensors and control units to the steering column, that provide information to steering control modules as part of an electric assisted or 4-wheel steering system
Steering columns are being developed to achieve advanced functionalities which cannot be attained by conventional means. Collapsible steering columns are being employed to reduce the impact on the passenger vehicle in case of accident.
This report incorporates an in-depth assessment of Steering columns market by type of vehicle, by pivot Alignment, by steering Columns, and geography.
Key Takeaways from this Report
Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
Understand the different dynamics influencing the market - key driving factors, challenges and hidden opportunities.
Get in-depth insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
Analyze the sales and distribution channels across key geographies to improve top-line revenues.
Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
Get a quick outlook on the market entropy - M&As, deals, partnerships, product launches of all key players for the past 4 years.
Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
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