USD 19.07 Billion
Report ID:
SQMIG25AG2021 |
Region:
Global |
Published Date: December, 2024
Pages:
272
|Tables:
88
|Figures:
76
Steering Column Control Module Market size was valued at USD 19.07 Billion in 2023 and is poised to grow from USD 20.48 Billion in 2024 to USD 36.27 Billion by 2032, growing at a CAGR of 7.4% during the forecast period (2025-2032).
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 - 2025-2032
Global Market Size
USD 19.07 Billion
Largest Segment
Passenger Cars
Fastest Growth
Passenger Cars
Growth Rate
7.4% CAGR
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Global Steering Column Control Module Market is segmented by type, vehicle type, technology, sales channel and region. Based on type, the market is segmented into adjustable steering column (manual adjustable, power adjustable) and non-adjustable steering column. Based on vehicle type, the market is segmented into passenger cars and commercial vehicles (light commercial vehicles (LCVs), heavy commercial vehicles (HCVs)). Based on technology, the market is segmented into electronic power steering (EPS), hydraulic power steering (HPS) and electro-hydraulic power steering (EHPS). Based on sales channel, the market is segmented into OEM (original equipment manufacturer) and aftermarket. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
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.
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.
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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.
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Cost of Raw Materials is High due to which it can hamper on the growth of the market
The Acceptance of Shared Mobility is Growing
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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.
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 2023 | USD 19.07 Billion |
Market size value in 2032 | USD 36.27 Billion |
Growth Rate | 7.4% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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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 |
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the 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 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.
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Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the 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 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.
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Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
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Report ID: SQMIG25AG2021
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