Industry Background:
An automotive steering control module system helps in assisting the driver to steer the vehicle in the desired direction. From the past few years, automotive steering systems have grown from rigid mechanisms to more technologically advanced, smooth, easy-to-handle and reliable systems. Thus the modern vehicles are nowadays equipped with advanced safety systems and advanced driver assistance systems (ADAS), namely airbags (in steering wheels), antilock braking system (ABS), adaptive cruise control (ACC), and power assist steering (PAS), in order to ensure safe and smooth driving and to provide enhanced directional stability and quickness to the vehicle. All the aforementioned reason helps in driving the market dynamics.This growth is primarily driven by The increasing demand for passenger cars exponentially in emerging economies such as China, India, and Brazil, owing to the significant economic growth coupled with the purchasing power of consumers. There has been tremendous growth in emerging markets and global trade activities, especially in the BRIC nations such as Brazil, Russia, India, and China..
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | Unit |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Auto Parts & Equipment sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Bosch (Germany), HELLA (Germany), Thyssenkrupp (Germany), DENSO (Japan), Nexteer Automotive (United States), ZF Friedrichshafen (Germany), CIE Automotive (Spain), Eaton (Ireland), Hyundai Mobis (South Korea) and JTEKT (Japan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2020, DENSO announced it has developed a new Electric Power Steering Motor Control Unit (EPS-MCU). It is featured in TOYOTA NEW HARRIER. The newly developed EPS-MUC, called “DDA2 (DENSO Dual Assist 2nd Generation),” maintains two drive circuits and motor windings while integrating multiple components and simplifying the structure, resulting in a 10% reduction in size as well as cost-saving compared to DDA1.
In 2021, Faurecia SE ac HELLA The combination will create the 7th largest global automotive supplier and a global leader in high-growth technology areas as well as it will develop a comprehensive product offer for electric vehicles, leveraging on Hella's portfolio of products among which sensors and actuators related to Battery electric vehicles (BEV), as well as Faurecia’s hybrid systems and hydrogen system solutions.Global Automotive Steering Control Module is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching Products. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Influencing Trend:
Growing demand for SBW technology
Market Growth Drivers:
The increasing demand for passenger cars exponentially in emerging economies such as China, India, and Brazil, owing to the significant economic growth coupled with the purchasing power of consumers. There has been tremendous growth in emerging markets and global trade activities, especially in the BRIC nations such as Brazil, Russia, India, and China.
Challenges:
High-cost pressure faced by vendors and OEMs and Huge cost Constraints Associated to these Modules along with Declined use of Hydraulic Power Steering Owing to Large Space Requirement
Restraints:
Owing to the lack of production facilities in regions like the Middle East and Africa. Moreover, these have comparatively low productions of vehicles in Latin America, thus the market potential of the steering control module is low in these regions.
Opportunities:
Growing Demand for Fuel-Efficient Vehicles across the Globe and Improvement in Safety and Vehicle Performance Leading to an Increase in Adoption of EPS
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 mainly 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 market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Automotive Steering Control Module Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Automotive Steering Control Module Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Automotive Steering Control Module players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
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
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Automotive Steering Control Module Study Sheds Light on
The Automotive Steering Control Module Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automotive Steering Control Module industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automotive Steering Control Module 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.