USD 16.49 billion
Global Steering Column Control Module Market Size, Share, Growth Analysis, By System Type(Hydraulic steering, electric powered hydraulic steering), By Vehicle Type(Passenger Cars, Commercial Vehicle), By Steering types(Power steering and manual steering) - Industry Forecast 2023-2030
Report ID:
SQMIG25AG2021 |
Region:
Global |
Published Date: February, 2024
Pages:
272
|
Tables:
88 |
Figures:
76
Global Steering Column Control Module Market Insights
Steering Columillion Control Module Market size was valued at USD 16.49 billion in 2021 and is poised to grow from USD 17.73 billion in 2022 to USD 33.99 billion by 2030, growing at a CAGR of 7.5% in the forecast period (2023-2030).
A steering column is a shaft that connects a vehicle's steering wheel to the steering mechanism. The connection between the steering wheel and steering column is made by steering column control modules. It controls the complete steering system and is placed at the top of the steering column.
The steering column control modules' right and left sides contain the functional switches known as the stalk lever switches. It connects the systems (such as the airbags, Bluetooth, horns, and Bluetooth hands-free calling buttons) as well as the stalk lever switches and controls that are positioned on the steering wheel. With no mechanical connection, a steering control unit offers a totally fluid interface between the pump and steering cylinder. The device consists of a feedback meter element and a manually operated directional control servo valve in a single body.
The main network for all the systems around the steering column is a steering column control module that is positioned on the steering column but situated below the steering wheel.
US Steering Column Control Module Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2023-2030
Global Market Size
Largest Segment
Passenger Cars
Fastest Growth
Passenger Cars
Growth Rate
7.5% CAGR
Global Steering Column Module Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Steering Column Module Market Size By Vehicle Type, 2021-2028 ($ Bn)
Global Steering Column Module Market Size By Vehicle Type, 2021-2028 (%)
To get more reports on the above market click here to Buy The Report
Global Steering Column Control Module Market Segmental Analysis
Global Steering Column Control Module Market is segmented based on the system type, vehicle type, steering type, and region. Based on the system type, the global market is segmented as a hydraulic steering, electric powered hydraulic steering, and electric power steering and Others. Based On Vehicle Type, the global Steering Column Control Module Market is segmented as Passenger cars and commercial vehicles. Based on steering, the market is segmented into power steering and manual steering. Based on Region Steering Column Control Module Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Steering Column Control Module Market Analysis by System Type
Based on the System Type, Hydraulic steering, electric powered hydraulic steering, and electric power steering are the three categories under which the global market is divided. Over the forecast period from 2021 to 2028, the Electric power steering segment, which accounted for the highest proportion of steering column control modules, is expected to maintain its dominance.
Steering Column Control Module Market Analysis by Vehicle Type
The Global Steering Column Control Module Market has been segmented on the basis of Vehicle Type as Passenger cars and commercial vehicles. Among these, the passenger car segment held the largest market share, due to low maintenance and repair costs, easy availability of spare parts, increased efficiency of fuel, and high driving comfort which is associated with passenger cars. Moreover, The industry is also expected to have substantial expansion in the commercial vehicle category. The expansion of this market will be fueled by the declining total cost of ownership and multi-brand producers who are providing additional products and pricing options that are suited to certain markets.
Global Steering Column Module Market By Vehicle Type , 2021(%), 2021 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Steering Column Control Module Market Regional Insights
Asia Pacific held the largest Steering Column Control Module Market share. Asia Pacific is anticipated to favourably stimulate market growth and increase demand throughout the forecast period due to the rising use of steering column control modules for controls connection in automobiles. The Steering Column control modules market is expected to expand at a healthy rate in this region during the forecast period as a result of increasing demand for fuel-efficient and easy-grip automobiles, as well as several usages for steering Column control modules in expanding end-use industries.
The acceptability of hybrid and electric vehicles has risen significantly in North America, which has boosted the region's automotive ECU market's sales. Since the United States is the second-biggest car market in the world, it is the greatest market in this region. The market potential for steering column control modules is limited due to the absence of production facilities in the Middle East and Africa and the comparatively low vehicle production in Latin America. These reasons are responsible for the region's continuous increase in automotive sales, which will increase market demand.
Global Steering Column Module Market By Geography, 2021 - 2028, 2023-2030
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Steering Column Control Module Market Dynamics
Steering Column Control Module Market Driver
- The steering column control modules' ability to connect switches and controls on the steering wheel to other systems makes automakers more dependent on them, which is expected to have a substantial impact on market growth. Additionally, the existing population's growing need for technologically superior cars is anticipated to drive the steering Column control modules market expansion throughout the forecast period.
Steering Column Control Module Market Restraint
- Cost of Raw Materials is High due to which it can hamper on the growth of the market
A few of the issues impeding the market's expansion in the next years are the rising costs of raw materials, which have raised the cost of manufacturing and raised prices, as well as trade restrictions imposed by governments throughout the world. As a result, is one of the key factors that would hinder market expansion and present new challenges to the industry during the forecast period.
- The Acceptance of Shared Mobility is Growing
Compared to owning a car, shared mobility offers clients greater economic efficiency. Moreover, the expansion of shared mobility is being accelerated by traffic congestion and environmental concerns, particularly in China and India. These issues will cause a decline in car ownership, which could therefore limit market expansion.
Request Free Customization of this report to help us to meet your business objectives.
Global Steering Column Control Module Market Competitive Landscape
The Global Steering Column Control Module Market is relatively fragmented, with some of the key players profiled in the Steering Column Control Module Market including ZF TRW, Vishnu Vaibhav Industries Private Limited, Eaton Corporation Plc. They are consistently investing in R&D and majorly focusing on the various strategies to maintain their steering column control module market share.
Steering Column Control Module Market Top Player's Company Profiles
- Robert Bosch GmbH
- Mitsubishi Electric Corporation
- Nexteer Automotive
- Continental AG
- DENSO CORPORATION
- Hitachi Automotive Systems, Ltd.
- Autoliv Inc.
- ZF Friedrichshafen AG
- Valeo SA
- JTEKT Corporation
- Leopold Kostal GmbH & Co. KG
- Panasonic Corporation
- Fujitsu Ten Limited
- TOYODA GOSEI Co., Ltd.
- Alps Alpine Co., Ltd.
- Stoneridge, Inc.
- NSK Ltd.
- Schaeffler AG
- Joyson Safety Systems
- GHSP Inc.
Steering Column Control Module Market Recent Developments
- In June 2022, ZF Group in India inaugurated its new Tech center facility at Hyderabad. The new facility is the largest software hub for the ZF Group. Spread over 300,000 sq. ft., it offers employees open workspaces for innovation, collaboration, and ideation.
- In August 2021, ZF Friedrichshafen AG and Locomotion announced a comprehensive agreement to co-develop steering units to enhance autonomous truck safety.
Global Steering Column Control Module Key Market Trends
- Expanding Adoption of Sensor
The sensor in the steering column measures the torque (steering effort) as well as the speed and position of the steering wheel. Thus, three different types of sensors—torque sensor, steering wheel speed sensor, and position sensor—are employed in such systems.
These sensors offer the signals as inputs to an ECU, which then gives the steering system the proper output so that something can happen.
In general, torque sensors are non-contact devices. The sensor gauges the driver's inputted steering force, allowing for sensitive regulation of the electric steering support.
- Due to the regulated usage of steering column modules for driver safety, the frontal automotive steering column module market is anticipated to experience significant growth. In addition, improving pedestrian and vehicle occupant safety is one of the top priorities for automakers, and many manufacturers are working to build steering column control modules to raise the bar for safety and comfort features. Additionally, the focus placed on safety by governments and the rise in customer knowledge has compelled automakers to include safety devices in automobiles. The market for steering column modules is thus anticipated to develop over the forecast period due to the growth in awareness regarding vehicle safety.
Global Steering Column Control Module Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Steering Column Control Module Market Analysis, in terms of System Types, Electric power steering segment has dominated the market Among the vehicle type, the passenger car segment held the largest market share. In the regions, Asia Pacific held the largest market share.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 16.49 billion |
| Market size value in 2030 | USD 33.99 billion |
| Growth Rate | 7.5% |
| Base year | 2021 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Steering Column Control Module Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Steering Column Control Module Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Steering Column Control Module Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Steering Column Control Module Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Steering Column Control Module Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Steering Column Control Module Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Steering Column Control Module Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 617-230-0741
