Automotive Collapsible Steering Column Industry Outlook by Size, Share, Growth, Trends, and Region 2019 to 2023
Automotive
Collapsible Steering Column Market Research Report - Global Forecast to 2023. The
Automotive Collapsible Steering Column market has witnessed transcendent change
recently, owing to the rapid technological development in the automotive
industry. With the advent of power steering, individuals have been exposed to a
steering technology. This technology is not only superior in terms of
technology as compared to traditional manual steering systems, but also more
responsive and aids fuel efficiency. Electronic control over steering systems
are expected to significantly impact the progress in the market owing to the
increasing demand from end-users, for improving efficiency, safety and
comfort.
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The key
players of global automotive collapsible steering column market are Robert
Bosch GmbH(Germany), Nexteer Automotive(U.S.), Schaeffler Technologies AG &
Co(Germany), Pailton Engineering(U.K.) , JTEKT Corporation(Japan), NSK
Ltd.(Japan), Coram Group (Italy), Sweet Manufacturing, Inc.(U.S.) and Douglas Autotech
Corporation (U.S.). In 2016, these companies accounted for a share of XX% of
the global market.
In this
context, the collapsible steering column system, helps in aiding the reduction
in human effort required for rotating the steering wheel. This is done to
enhance the driver usability experience and use technology to gauge and
understand the driver driving pattern / skill to predict the future steering
movement. This helps in reducing the fuel consumption, and thus makes this
system all the more cost effective for driving the automobile. The collapsible
steering also breaks down into distinct parts upon severe impact in the event
of a mishap / accident thus causing less damage and possibly saving the life of
someone. The global automotive collapsible steering column market is thus
destined to grow at an unprecedented rate owing to its life saving property.
The global
automobile market is seeing an increasing inclination towards acceptance for
the collapsible steering column mechanism. North America region as a whole is
known to have a penchant large vehicles (both passenger and commercial). The
likes of SUVs are dominant in the buying decisions of the people for leisure
and work related activities. The collapsible mechanism always helps in
providing added security to market where high powered vehicles rule the roost.
The Europe region is known for its fascination with high performance cars,
where safety and passenger security has been stressed upon a lot in recent
years, thus making this system an attractive proposition in the said market.
The Asia Pacific region is said to be the next automotive hub of the 21’st
century with factors like cheap labour, rising middle class, rising population
and the increasing purchase power of the people. The people here, thus can
afford and are willing to drive automobiles with enhanced safety features thus highlighting
the importance of the collapsible steering mechanism.
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