Steering Column Control Module Market: Current Analysis and Forecast (2022-2028)

The Steering Column Control Module is an electronic module in a vehicle's steering system. It controls various functions in the steering column such as adjusting the tilt and telescopic position of the steering wheel, adjusting the power-assisted steering and controlling the lock mechanism. It also communicates with other vehicle systems to provide driver-assist features such as lane departure warning and parking assist. The market for steering column modules is driven by the increasing demand for advanced safety features and comfort in vehicles, which is leading to the higher adoption of electronic steering systems. Some major players in the steering column module market include ZF Friedrichshafen, TRW Automotive, Nippon Seiki, and Takata Corporation.

The Steering Column Control Module Market is expected to grow at a steady rate of around 7% owing to increasing demand for electric vehicles, which typically require electronic steering systems. Major companies in the market steering column control module with technologically advanced features. For instance, Some examples of companies that are known for their advanced steering column modules include Bosch, ZF Friedrichshafen, Nexteer Automotive, and JTEKT. These companies offer a range of steering column modules with various features such as keyless entry, tilt adjustment, and telescoping adjustment.

Based on the distribution channel, the market is segmented into OEM and aftermarkets. The OEM steering column control module category is to witness higher CAGR during the forecast period due to the increasing demand for advanced and high-tech steering column modules in new vehicles. Additionally, the increasing demand for electric and autonomous vehicles is expected to drive the growth of the OEM segment in the steering column module market.

On the basis of vehicle type, the market is categorized into passenger vehicle, commercial vehicle, and heavy commercial vehicle. In the steering column module market, the passenger vehicle segment holds the largest share. This is due to the high demand for passenger vehicles globally and the increasing demand for advanced and integrated steering systems in the automotive industry. Additionally, The growing demand for safety features, such as electronic stability control and lane departure warning, in passenger vehicles is driving the growth of the passenger vehicle segment. Furthermore, Government regulations mandating the installation of advanced safety systems, such as airbags and electronic stability control, in passenger vehicles are also driving the growth of the passenger vehicle segment.

For a better understanding of the market adoption of the steering column control module industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The Asia-Pacific region is expected to grow at a substantial CAGR during the steering column module market forecast period. This is due to several factors such as the rapidly growing automotive industry in countries such as China, India, and South Korea is driving the demand for steering column modules in the Asia-Pacific region. Additionally, increasing demand for passenger vehicles in the Asia-Pacific region, particularly in emerging economies, is driving the demand for advanced and integrated steering systems. Moreover, the increasing disposable income of consumers in the Asia-Pacific region is driving the demand for premium and luxury vehicles, which require advanced steering systems.

Some of the major players operating in the market include: Continental AG, ZF Friedrichshafen AG, Robert Bosch GmbH, Mando Corp, BorgWarner Inc, Nexteer, Automotive Corporation, VALEO, YAZAKI Corporation, DENSO Corporation, and JTEKT Corporation.