Global Automotive Collapsible Steering Column Market

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 News

  • 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.
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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).

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.   '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'

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.

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.

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.

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Global Automotive Collapsible Steering Column Market

Report ID: SQMIG25A2292

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