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Steering Column Market Projected to Garner Significant Revenues by 2025

May 9th 2019 at 12:08 PM

The Column is a device intended primarily for connecting the steering wheel to the steering mechanism or transferring the driver's input torque from the steering wheel. It controls the vehicle's steering as well as acts as a host of other functions. The ignition switch, turn signals, and windshield wipers are all typically found in this column. A gear selector and cruise control are also found in this part of the vehicle. The majority of the steering column assembly is located underneath the vehicle's dash in the driver's compartment and protrudes into the engine compartment on the opposite side. The column is linked to the steering components of the vehicle's chassis by a series of universal joints and solid steel tubing. The steering column consists of a collapsible housing containing a collapsible, rotating shaft. The steering column is connected to the input shaft of the steering gear by a flexible joint. This allows the alignment and reduces the transmission of road shocks back to the driver. Some of the steering columns have an intermediate shaft, which runs at about an oblique angle, from the column to the steering gear. Some manufacturers fit sensors and control units to the steering column, that provide information to steering control modules as part of an electric assisted or 4-wheel steering system.

High demand for automotive is the key driving factor for the global steering column market since an automotive can't be manufactured without a steering column. Technological advancement has led to the development of more efficient steering column systems. These improve the overall driving experience and ensure greater safety than before. Due to multi functionality and increased safety, their demand amongst users has significantly increased. Demand for high mileage is also a driving factor for the global steering column market.

The collapsible steering column is the latest trend in the market these days. In the case of an accident the steering column collapse to the automotive floor preventing the driver from getting hurt front the front of the vehicle.

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Based on geography, the Global steering column Market has been categorized into seven key regions including North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America, and the Middle East & Africa. APEJ has grown into the largest market for steering columns in terms of CAGR owing to high demand for automotive in countries like India and China closely followed by North America and Europe. Passenger vehicles hold the largest market share presently. Market share for commercial vehicles is expected to show steady growth over the forecast period. Steady growth is expected in the Middle East over the forecast period. Asia Pacific is expected to continue leading the steering column market, both in demand and supply. The global steering column market growth is positive during the forecast period.

Some of the key players in the global steering Column market are Hangzhou Feiyue Automobile Parts Co., Ltd., Technymon Srl India, ATP AUTO TRUCK PARTS YEDEK PARCA SAN VE TIC. LTD. STI., Anhui Finetech Machinery Co., Ltd., Ningbo CIE Corporation, Oyster Europe Limited, Qi Automotive Ltd, Hyundai Glovis, BNL (UK) Limited, Hubei Tri-Ring Motor Steering Gear Co., Ltd., MSGroup, Nakanishi Metal Works Co Ltd

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