Global Automotive Steering Column Market – Industry Trends and Forecast to 2029

Market Analysis and Size

Automotive steering column 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 multi-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.

Market Definition

An automotive steering column is ready of elements wont to management the direction of car motion and facilitate driver maneuver the vehicle as per the necessity. The non-automatic wheel, steering column, universal joints and rack & pinion mechanism contribute to the automotive steering column part. the event has LED to alter the steering mechanism from manual steering to power assist steering system . The automotive steering column is taken into account as non-replaceable in cars and is liable for effective management on vehicles creating it a significant part in cars. The marketplace for automotive steering column  is very rigorous because the steering system is obligatory in cars.

Report Scope and Market Segmentation

Global  Automotive Steering Column  Market Dynamics

This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:

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.

• Adoption of power steering system

The automotive trade has developed from manual steering systems, that use solely mechanical linkages like rack and pinion, to steering system system. The manual steering system has limitations relating to mobility and fuel potency of auto. However, the ability steering system  has mechanics and electronic elements, that assist the driving and at the same time improve the potency of the vehicle. Hence, the ability steering system has been wide accepted all across the world. the rise in adoption of steering system  is accountable for increase in demand for steering system  within the automotive trade.

Opportunities:

• Use of electric power steering systems in commercial vehicles

Electric power steering is presently used in passenger vehicles and light marketable vehicles and has a limited presence in heavy vehicles. With advancements in technology, EPS(Electric power steering)  systems could have a better cargo- bearing capacity and be used in marketable vehicles as well. Presently, HPS systems dominate the marketable vehicle member owing to their advanced cargo- bearing capacity than electric power steering systems. HPS systems draw power from the machine, dwindling energy effectiveness.

Restrictions/ challenges:

• Failure of electric power steering system subcomponents

Many vehicles configured with electric power steering have endured a failure in their steering system. When the steering wheel gets struck or disengages from the electric motor, EPS (Electric power steering) conking occurs. Utmost of the time, this is caused due to the failure of various electrical factors, the failure of steering control modules, and necklace detector blights, performing in the input of further steering sweats by the motorist, which may lead to accidents, especially at low pets.

• Limited load-bearing capacity of electric power steering systems

Owing to their benefits, like bettered energy effectiveness and ease of project, EPS (Electric power steering)  systems are decreasingly being used in the passenger auto member. Still, because of their low cargo- bearing capacity, their demand is veritably limited in the marketable vehicle member, and they're being replaced by HPS systems. Various conventional electric steering systems, similar as pinion help electric power steering (P-EPS), have the capability to help 10kN (kilo-Newton) of steering rack force on an average, whereas heavy marketable vehicles bear steering systems that can help 15kN or above steering rack force. Numerous companies are working towards developing electric power steering systems that can handle high steering rack force.

Also, dearth of awareness in underdeveloped regions, concerns related to the cyber threats associated with digital transactions and high costs associated with deployment will act as growth restraints for the market. Lack of strong infrastructural facilities in the backward economies, regulatory issues and lack of standardization and data management efficiency will also challenge the market growth rate.

This  automotive steering column  market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive steering column market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Automotive Steering Column Market

The COVID-19 epidemic has continued to impact the product of vehicles across the globe. Major OEMs, similar as Toyota, Ford, and General Motors, recorded a decline in product due to factory closures caused by the epidemic. This script is anticipated to negatively affect the automotive steering system request, as the request growth is directly related to the product of vehicles. The ongoing COVID-19 pandemic can act as a hindrance to producing business across all finish use sectors, together with the automotive business that has been severely hit and simple-minded rate of auto production within the half of the financial .

However, a marginal demand growth is predicted to occur within the succeeding 3-4 quarters that is predicted to revive the business output performance growth consumption the expansion of automotive steering column market .

Recent Developments

• In October 2020, Nexteer launched High- Affair Electric Power Steering (EPS) that delivers advanced safety and comfort features as well as enhanced energy effectiveness for heavy- duty exchanges and light marketable vehicles.
• In September 2020, Schaeffler Group blazoned a development cooperation with Robert Bosch Automotive Steering GmbH, a attachment of Robert Bosch GmbH, to expand its intelligent hinder wheel steering (iRWS) portfolio.
• In May 2020, Koyo CanadaInc. (KCI), a consolidated attachment of JTEKT Corporation, acquired the means of a Halifax, Nova Scotia R&D installation preliminarily possessed by KSR InternationalInc. (KSR), a Canadian company. This accession strengthened JTEKT’s ECU development for vehicle steering and driveline products.

Global Automotive Steering Column  Market Scope

The automotive steering column market is segmented on the basis of type , application, pivot alignment type steering system type, sales channel , column type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

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
• 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

Sales Channel

• OEM
• Aftermarket

Column Type

• Power Adjustable Steering Columns
• Power one touch Adjustability Columns
• Touch Control Electronic Transmission Shifter Steering Column
• Active-Energy Absorbing Steering Columns
• Non-Adjustable Steering Columns
• Rake Adjustable Steering Columns

Tilt-Adjustable Steering Columns

Automotive Steering Column Market Regional Analysis/Insights

The automotive steering column  market is analysed and market size insights and trends are provided by country, type , application, pivot alignment type steering system type, sales channel , column type. as referenced above.

The countries covered in the  automotive steering column  market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the market since countries such as China, Indian, Japan are an outstanding regional markets with the high range of automotive producers within the region, that had contributed to a big worth of the worldwide automotive steering column market.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Automotive Steering Column  Market Share Analysis

The automotive steering column market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to automotive steering column market.

Some of the major players operating in the automotive steering column market are:

• 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)
• thyssenkrupp AG (Germany)
• ZF Friedrichshafen AG (Germany)

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