Global Steering Column Control Modules Market Overview
Steering Column Control Modules is a device used for the connection of the steering wheel for the rotational mechanism. Steering column control modules are primarily the switches that are installed around the steering wheel. The steering column control modules consist of housing with printed circuit board consisting of two electrical receptacles. The steering Column control modules acts as the main network to all the systems that are surrounding it. These modules increase the safety and ease of driving an automobile. The other controls present on the steering wheel are connected to another system through the help of steering Column control modules.
The profound dependency of every other switch below the steering wheel on steering Column increases the demand for these control modules in the automobile manufacturers. Moreover, the increasing advancements in the automobile industry have brought about new developments from its suppliers with greater innovations in the modules. The technological advancement with better improvements in the fuel system as well as steering control are anticipated to grow the demand for steering column control modules over the forecast period. The stalk lever switches are located on the steering wheel which is connected to the other systems through the steering column control modules in an automobile which further increases the dependency of automobile manufacturers on steering column control modules.
Market Size & Forecast
Steering Column Control Modules Market is anticipated to record a significant CAGR of 6.55% over the forecast period. Many multi-national companies are concentrating towards new product advances in steering Column control modules. Moreover, the many advantageous properties of steering Column control modules are exploited in the field of automobile designing now and then. New uses for steering Column control modules are discovered on regular basis which is expected to drive the Steering Column Control Modules market rapidly.
Currently the global steering Column control modules market is observing vibrant growth owing to increasing introduction of new technologies, active safety systems and comfort features. Advance in automobile industry in the past few years and growing technological explorations is projected to drive steering Column control modules market besides the wide range of functions of steering Column control modules in an immense range of connectivity in a vehicle such as horns, cruise controls, hand free calling buttons, sound control during the forecast period.
On the basis of regional platform, global steering Column control modules market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
As a connector of various switches and controls in an automobile, North America is panned to observe substantial steering Column control modules market growth due to rising steering Column control modules usage for ease and safety. North America is followed by Europe in terms of adoption due to expanding steering Column control modules requirements in automobile industry manufacturers.
Asia Pacific is expected to drive demand and positively impact steering Column control modules market growth over the forecast period on account of increasing steering Column control modules application for controls connectivity in automobiles. Due to multiplying steering Column control modules uses in growing end-use industry as well as due to increased demand for fuel efficient and easy grip vehicles, the steering Column control modules market is expected to drive at a robust rate during the forecast period across the Asia-Pacific region.
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Our-in depth analysis of the global Steering Column Control Modules market includes the following segments:
By Switch positioning
- On the Steering Wheel
- Below/Around the Steering Wheel
By Automobile Type
- Commercial Vehicles
- Heavy Duty Vehicles
- Passenger Cars
- Off-road vehicles
By Distribution Channel
- Original equipment manufacturer
- Aftermarket sellers
Global Steering Column Control Modules Market is further classified on the basis of region as follows:
- North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Growth Drivers & Challenges
The rising demand for steering Column control modules due to better safety and ease in driving the automobiles is anticipated to increase the growth over the forecast period. Additionally, the increase in disposable income of middle-order population has amplified the demand for more designer automobiles with fuel efficient controls is estimated to propel the demand for steering Column control modules over the forecast period across the globe. The connectivity of steering wheel controls and switches to other systems with the help of steering Column control modules increases the dependency of the automobile manufacturers more on these modules which is predicted to contribute significantly to the market growth. Moreover, the demand for technologically advanced automobiles in the current population is intensifying which is expected to result in an expanding growth of the steering Column control modules market over the forecast period.
However, the huge cost constraints associated to these modules along with declined use of hydraulic power steering owing to large space requirement is anticipated to turn as a key factor in restraining the steering Column control modules market over the forecast period.
Top Featured Companies Dominating The Market
- ZF TRW
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