Data Bridge Market Research unveils a comprehensive study of the Automotive Steering Column Market, presented in a visually compelling format for effective data absorption. Key insights are readily evident through insightful graphs, charts, and figures, empowering informed decision-making.
The Automotive Steering Column market report stands as a strategic asset, offering a culmination of advanced market research and analysis. Employing cutting-edge tools and techniques, this report meticulously categorizes the market based on companies, geographical regions, types, components, applications, and end-use industries. Within its competitive analysis section, it highlights key market players through comprehensive company profiles, detailed market share analyses, and an exploration of the diverse strategies propelling their success in the market. Additionally, this report adeptly identifies and dissects emerging trends, pivotal driving forces, as well as challenges and opportunities within the market landscape.
A profound analytical estimation within the Automotive Steering Column market report forecasts the primary challenges ahead in terms of sales, export/import dynamics, and revenue projections for organizations in the upcoming years. Supported by an exemplary research methodology, the report emphasizes both market share analysis and key trend analysis. In its assessment of competition, it delves into various strategies adopted by major market players, including new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and more, elucidating how these initiatives bolster their presence within the market.
By offering innovative insights, new skills, and inventive programs and tools, this Automotive Steering Column market research report is poised to contribute significantly to augmenting sales and fostering growth within the market.
Automotive steering column market primarily function is intended for connecting the steering wheel to the steering medium and secondary functions includes to perform the energy dispersion operation in the event of an anterior collision, to give mounting for the mufti-function switch, column cinch, column wiring, column cloak, transmission gear chooser, needles, and offer adaptation to suit motorist preference .Data Bridge Market Research analyses that the automotive steering column market value, which was USD 3.52 billion in 2021, is expected to reach the value of USD 11.94 billion by 2029, at a CAGR of 16.50% during the forecast period 2022-2029.
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Market Growth Drivers:
- Stringent fuel efficiency norms to drive demand for electrically assisted steering systems
Several governments across the globe have introduced strict emigration and energy frugality regulations for vehicles. Regulatory bodies similar as the National Highway Traffic and Safety Administration (NHTSA) in the US, the International Council on Clean Transportation (ICCT) in Europe, and other associations have enforced line- position regulations. These regulations indicate an average emigration limit that needs to be maintained by automotive OEMs. Electrically supported power steering systems are lighter in weight and are less complex in structure compared to traditional hydraulic steering systems. Also, as there are no energies involved, they're also easier for auto possessors to maintain.
As per the US Department of Energy (DOE), in ideal conditions, EPS systems can increase energy effectiveness by 2 to 4, reduce energy consumption by over to 6, and drop CO2 emigrations by 8g/ km. Estimations show that EPS systems have helped save nearly 3 billion gallons of gas since 1999 ( Source Nexteer Automotive). These systems use power only when the bus are turned, unlike hydraulic systems that pump fluid all the time while the machine is running. This directly results in increased energy frugality. The penetration of electrically supported power steering is loftiest in the European region, followed by North America and Asia Oceania independently.
The report emphasizes the participation of key entities, notably:
COBO ( China)
DENSO CORPORATION. (Japan)
Eaton. ( Ireland)
FLAMING RIVER INDUSTRIES, INC. (US)
Fujikiko Co.,Ltd. (Washizu)
HELLA GmbH & Co. KGaA (Germany)
JTEKT Corporation. (Japan)
Kongsberg Automotive (Switzerland)
Leopold Kostal GmbH & Co. KG (US)
Mando Corp. ( South korea)
Marimbaauto . ( Canton)
NSK Ltd. (Japan)
Pailton Engineering (US)
Key Highlights in the Report
- Providing an extensive analysis of the Automotive Steering Column market for a holistic understanding.
- Presenting details about the leading industry players, their product ranges, and strategic approaches.
- Delving into the prominent regional landscapes where Automotive Steering Column demonstrates significant growth.
- Exploring the latest trends and advancements within the industry.
- Identifying potential and specialized segments/regions poised for notable expansion.
Key Market Segmentation
By Type (Hydraulic Power Steering Column, Electric Power Steering Column), Application (Passenger Cars, Commercial Vehicles), Pivot Alignment Type (Lower Pivot Tilt Steering Column, Lower pivot Tilt and Telescopic Steering Column, Upper pivot Tilt Steering Column, Upper Pivot Tilt and Telescope Steering Column) , Steering System Type ( Manual Rack And Pinion Steering System, Manual Worm and Roller Steering System, Manual Recirculating Ball and Nut Steering System , Hydraulic Power Steering System, Electric Power Steering System)
Target Audience:
- Businesses in the Automotive Steering Column industry
- Investors and analysts interested in the Automotive Steering Column market
- Anyone who wants to learn more about the Automotive Steering Column market
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