Industry Background:
Steering columns have gone from a basic shaft used to transmission movement from the steering wheel to the front wheels, to a highly multifaceted part of the vehicle. Today’s steering columns have steering angle sensors, clock springs, airbags, heated steering wheels, and controls for manifold systems. It is used as the only control on a steering wheel was for the horn, then cruise control made its way to the front side of the steering wheel on some vehicles. Nowadays there are controls for virtually everything, right at fingertips. These controls are not restricted to just the front of the steering wheel, can also be found on the rear or even the sides of the steering wheel.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | ZF Friedrichshafen AG (Germany), Delphi Automotive LLP (Ireland), Ididit (United States), Nexteer Automotive (United States), Valeo (France), Anhui Finetech Machinery Co., Ltd. (China), Qi Automotive Ltd (China), BNL (UK) Limited (United Kingdom), Nakanishi Metal Works Co Ltd (Japan) and Leopold Kostal GmbH & Co. KG (Germany) |
This growth is primarily driven by Increasing Demand for Automotive and Rising Preference of People for Comfort Driving.
Globally, a noticeable market trend is evident Technological Advancements in Vehicles
Major Vendors, such as ZF Friedrichshafen AG (Germany), Delphi Automotive LLP (Ireland), Ididit (United States), Nexteer Automotive (United States), Valeo (France), Anhui Finetech Machinery Co., Ltd. (China), Qi Automotive Ltd (China), BNL (UK) Limited (United Kingdom), Nakanishi Metal Works Co Ltd (Japan) and Leopold Kostal GmbH & Co. KG (Germany), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Leading key players of steering column control are focusing on strategic partnerships and new product launches to improve their products and services along with focusing on increasing their client base to strengthen market position.
Key Developments in the Market:
In May 2020, Friedrichshafen, Germany. ZF Friedrichshafen AG has successfully completed the acquisition of commercial vehicle technology supplier WABCO, with all necessary regulatory approvals. WABCO shares previously listed on the New York Stock Exchange will immediately cease public trading.
In September 2019, Delphi Technologies Aftermarket introduced 987 new part numbers to its North American steering and suspension portfolio, with plans to reach the full range by the end of Q1 2020. Growing product lines with significant parts proliferation create new revenue opportunities.
Influencing Trend:
Technological Advancements in Vehicles and Adoption of Various Innovative Assistance Functions for Steering
Market Growth Drivers:
Increasing Demand for Automotive and Rising Preference of People for Comfort Driving
Challenges:
Concern Regarding the Malfunctioning of any System or a Sensor can Create a Risk for the drivers
Restraints:
High Cost of Driver Steering Column Control System
Opportunities:
Increasing Demand from the Developing Economies
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Steering Column Control Market
- Analysis about New Entrants in Steering Column Control Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Steering Column Control Study Sheds Light on
The Steering Column Control Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Steering Column Control industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Steering Column Control industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.