USD 35.3 billion
Automotive Collapsible Steering Column Market Size, Share, Growth Analysis, By Material Type(Steel, Aluminum, and Other Alloys), By Vehicle Type(Passenger Vehicles, Commercial Vehicles), By End-Use Industry(Automotive OEMs, Aftermarket), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2292 |
Region:
Global |
Published Date: April, 2024
Pages:
220
|Tables:
88
|Figures:
76
Automotive Collapsible Steering Column Market Insights
Global Automotive Collapsible Steering Column Market size was valued at USD 35.3 billion in 2022 and is poised to grow from USD 36.25 billion in 2023 to USD 44.87 billion by 2031, growing at a CAGR of 2.7% in the forecast period (2024-2031).
A major focus on passenger safety is driving the global market for automotive collapsible steering columns. Under frontal collisions, collapsible steering columns have become essential for reducing the risk of injury. The market is growing due to strict regulations and increased awareness of car occupant safety. Further factors contributing to improved safety are advancements in layout and material quality. The industry monitors steady demand, particularly from the Asia-Pacific region, where the auto industry thrives. Major developments include the incorporation of digital safety structures, continuous technological advancements, and joint efforts by automakers to meet the highest protection standards; these factors collectively determine the direction of the global market for automobile collapsible steering columns.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Steel
Fastest Growth
Aluminum
Growth Rate
2.7% CAGR
Global Automotive Collapsible Steering Column Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Automotive Collapsible Steering Column Market Segmental Analysis
The global Automotive Collapsible Steering Column market is segmented into four major segments i.e. by Material Type, Vehicle Type, End-Use Industry, and region. Based on Material type, it is divided into Steel, Aluminum, and Other Alloys. Based on Vehicle Type, it is bifurcated as Passenger Vehicles, Commercial Vehicles. Based on End use, it is segregated into, Automotive OEMs, Aftermarket. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Analysis by Material Type
Steel is expected to dominate the automotive collapsible steering column marketplace. It remains a favored material because of its excessive energy, durability, and cost-effectiveness. Steel offers robust crashworthiness, making sure effective strength absorption for the duration of collisions, making it a preferred preference inside the automobile protection sector.
Aluminum segment is predicted to grow at the fastest CAGR. The automobile industry's increasing awareness on lightweighting for gas efficiency and emission discount favors aluminum. Although aluminum alloys have improved, they are still not as stiff as metal. This makes them a desirable alternative for collapsible steering columns in applications where weight reduction is crucial, along with electric and hybrid motors.
Analysis by Vehicle Type
Passenger vehicles are anticipated to dominate the automotive collapsible steering column market. This dominance is ordinarily due to the better manufacturing extent of passenger vehicles globally. The extensive adoption of safety standards and policies within the passenger vehicle phase, coupled with the growing focus and emphasis on occupant protection, contributes to the superiority of collapsible steering columns in this category.
Electric vehicles are predicted to be the fastest-developing vehicle type. As the car industry undergoes a huge shift toward electric powered propulsion for environmental sustainability, the demand for collapsible steerage columns in EVs is expected to surge. The lightweight and protection considerations inherent in collapsible steering columns align with the characteristics of electrical automobiles, contributing to their fast adoption on this rapid-growing segment.
Global Automotive Collapsible Steering Column Market By Material
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Automotive Collapsible Steering Column Market Regional Insights
Asia-Pacific is poised to dominate the automotive collapsible steering column market. This dominance is attributed to the region’s strong car enterprise, specifically in nations like China and India. The growing production of cars, coupled with the implementation of stringent protection guidelines, drives the demand for superior safety functions, which include collapsible guidance columns.
North America market is predicted to be grow at the significant CAGR. The place's car sector is characterized through a robust emphasis on safety standards, and there is a growing attention of the importance of superior protection capabilities among purchasers. Additionally, the adoption of electrical automobiles and the combination of advanced technology in vehicles make contributions to the increasing need for collapsible guidance columns, positioning North America as a rapidly growing market for this protection component.
Global Automotive Collapsible Steering Column Market By Region
- Largest
- Fastest
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Automotive Collapsible Steering Column Market Dynamics
Drivers
Increasing Stringent Safety Regulations and Standards Worldwide
- The stringent safety policies and requirements international play a pivotal role in riding the adoption of collapsible steering columns. These regulations underscore the imperative of imposing superior safety functions to mitigate damage risks at some point of collisions.
Increasing Awareness Amongst Purchasers Regarding Automobile Protection
- The growing awareness among consumers about automobile safety and its role in reducing collision-related accidents is driving demand. Government and industry-imposed safety regulations have heightened consumer awareness regarding the significance of safety features in vehicles. Requirements like crash testing standards and mandates for safety technologies emphasize the importance of vehicle safety. Media coverage of traffic accidents and safety concerns has further amplified public awareness about the risks associated with driving and the crucial role of safety features in vehicles. High-profile incidents frequently spark discussions about automotive safety and the need for enhanced security measures.
Restraints
High Potential Cost Implications Associated with Integrating Advanced Safety Features
- One of the primary marketplace restraints this is the potential price implications associated with integrating advanced safety functions into steerage columns. The inclusion of technologies such as collapsibility mechanisms and strength-soaking up substances may additionally make contributions to better production fees, affecting affordability for certain market segments.
High Retrofitting Challenges in Current Vehicle Fashions
- The retrofitting challenges in current vehicle fashions, particularly those without collapsible guidance columns, pose hurdles for seamless implementation. Modern vehicles are equipped with sophisticated electronics and integrated features. Retrofitting new technology often requires compatibility with existing electrical systems, which can be difficult and difficult to obtain without compromising vehicle performance. Modern vehicles are designed with specific dimensions, design considerations and locations for installation of components.
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Automotive Collapsible Steering Column Market Competitive Landscape
The aggressive environment of the Automotive Collapsible Steering Column market is dynamic and is fashioned by a mixture of hooked up gamers and emerging entrants striving to cater to the increasing demand for superior automobile safety. The organizations awareness on studies and improvement to introduce modern collapsible guidance column answers that adhere to stringent protection guidelines. Collaboration and partnerships with automotive manufacturers beautify marketplace penetration.
Top Player’s Company Profiles
- ZF Friedrichshafen AG
- JTEKT Corporation
- Nexteer Automotive
- Thyssenkrupp AG
- Robert Bosch GmbH
- NSK Ltd.
- Schaeffler AG
- Mando Corporation
- Pailton Engineering Ltd.
- Coram Group
- Xinyisheng Auto Parts Co., Ltd.
- Prensas Schuler S.A.
- Douglas Autotech Corporation
- Sona Koyo Steering Systems Ltd.
- Sweet Manufacturing Company
- Maval Manufacturing, Inc.
- Eaton Corporation
- Huf Hülsbeck & Fürst GmbH & Co. KG
- PWR Holdings Limited
- Saginaw Control and Engineering
Recent Developments
- In September 2023, Ford launched information about new protection features in its modern-day On Target publication, particularly highlighting a aspect-effect door sensor and the supplemental restraint device (SRS). The 2023 F150 comes ready with an adaptive strength-soaking up steering column that collapses in the occasion of airbag deployment, presenting additional protection for the driving force.
- In a enormous move, BSH Hausgeräte, a subsidiary of Robert Bosch GmbH, announced a €one hundred ten million investment in a brand new washing gadget manufacturing unit located in Simeria, western Romania. Scheduled to begin manufacturing in 2022, the manufacturing facility boasts a projected annual ability of 1,000,000 washing machines destined for the European marketplace. This exciting development is predicted to create around seven hundred new jobs within the coming years.
- In October 2022, Nexteer introduced a new EPS product that includes a platform design and expandable electronic control system; Known as mCEPS, it meets customer requirements for sophisticated, scalable and cost-effective steering systems that fit customer packaging specifications.
Automotive Collapsible Steering Column Key Market Trends
- Rising Emphasis on Integrating Electronic and Sensor Technologies The growing emphasis on integrating electronic and sensor technology into collapsible steerage columns, enhancing their responsiveness all through collisions. Additionally, a shift in the direction of lightweight substances, such as aluminum alloys, contributes to advanced gas performance and crash performance. Another fashion is the growing adoption of collapsible steering columns in electric and self reliant cars, aligning with the car industry's shift closer to electrification and advanced driver-help structures.
Automotive Collapsible Steering Column Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global Automotive Collapsible Steering Column market is pushed by stringent protection policies and a developing recognition on passenger protection for the duration of collisions. The integration of advanced electronic and sensor technology enhances responsiveness, whilst lightweight materials contribute to stepped forward gasoline performance. However, fee implications and retrofitting challenges in existing automobile fashions act as restraints. Dominated by way of key players like ZF Friedrichshafen AG and Nexteer Automotive, the market sees a surge in collaborations and partnerships for technological improvements. Regional evaluation highlights Asia Pacific's dominance because of a thriving automotive region. Key developments include the adoption of collapsible steering columns in electric and self-sustaining vehicles, emphasizing the industry's shift toward advanced safety and generation.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 35.3 billion |
| Market size value in 2031 | USD 44.87 billion |
| Growth Rate | 2.7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive Collapsible Steering Column Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive Collapsible Steering Column Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive Collapsible Steering Column Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Collapsible Steering Column Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Collapsible Steering Column Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Collapsible Steering Column Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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