Automotive Collapsible Steering Column Market Prognosticated To Escalate With a Staggering CAGR

Pune, India, April, 2018/MRFR Press Release/- Market Research Future published a Half Cooked research report on “Global Automotive Collapsible Steering Column Market Research Report - Forecast to 2023”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Automotive Collapsible Steering Column Market – Overview

The Global Automotive Collapsible Steering Column Market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of automotive collapsible steering column will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2023, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2023).  

The automobile manufacturing technology has seen a huge positive shift especially in the last few decades. In earlier times, majority parts and components in an automobile would be purely mechanically operated. As a result, almost 90% of the automobile would be operated based on these mechanically moving parts, with about only 5 – 10 % parts consisting of the electrical / electronic system within them. As a result, the automobiles would last for a really long time, but functionality wise, the efficiency of these automobiles wasn’t much to be accounted for and the chances for failure and malfunction were quite high as well. With the advent of electronics, the entire manner in which automotive design was perceived was changed for good. Right from the on paper design to actual vehicle building, each step was meticulously and efficiently managed. To top this, the seamless integration of electronics with the automotive functionality was a true game changer and revolutionised the entire era of automotive industry. All the repair works, fault detection, parameter reading and effective crisis management became much more effective due to the incorporation of electronics. Additionally, electronics was being used frequently for other activities like driver state monitoring for aiding / assisting the driver, vehicle balancing, anti-locking brake system, kinetic energy regenerative system amongst others. The common underlying principle of using electronics in the automobile is to keep a tab on the vehicle functionality and driving parameters minutely and suggest real time changes / corrective actions to avoid mishaps.

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.

Industry/ Innovation/ Related News:

March, 2018 - BSH Hausgeräte (part of Robert Bosch GmbH), will be investing EURO 110 million in a factory producing washing machine in Simeria,(Western Romania). From 2022, the factory will touch production capacity of 1 Million brand new washing machines for Europe market and will create 700 jobs in the years to come.

March, 2018 – Schaeffler India has made an announcement regarding getting approval from the shareholders & creditors to initiate the merger of INA India and LuK India forming ‘One Schaeffler’. This will help it to be among the largest automobile and industrial supplier in Indian subcontinent. Post the sanction of NCLT and after completion of other legalities, Schaeffler India will issue 14.64 million brand new equity shares.

Access Report Details @ https://www.marketresearchfuture.com/reports/automotive-collapsible-steering-column-market-5132

Automotive Collapsible Steering Column Market – Segmentation

The Global Automotive Collapsible Steering Column Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Drive Type            : Comprises 4 wheel Drive, Rear Wheel Drive and All Wheel Drive

Segmentation by Vehicle Type         : Comprises Passenger Vehicle and Commercial Vehicle

Segmentation by Regions                 : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

Automotive Collapsible Steering Column Market:

Regional Analysis

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.

 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.), Douglas Autotech Corporation (U.S.) and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Automotive Collapsible Steering Column Market.