Persistence Market Research
Automotive Collapsible Steering Column Market: Introduction
The automotive collapsible steering column is a mechanism having two interlocking shafts that collapse in a telescopic manner when compressed. This mechanism plays a crucial role while experiencing a strong impact; without the collapsible mechanism, the steering column can often impale the driver. As a result, collapsible steering columns are witnessing rapid adoption in automotive vehicles. Due to this mechanism during the occurrence of the crash, the steering column tends to absorb maximum part of the energy which is received at the front of the vehicle. This aids to prevent the energy of the impact from being transfer wholly to the driver. Before the introduction of this mechanism, the steering column often turned fatal as it used to bump in the body of the driver. According to the National Highway Traffic Safety Administration (NHTSA), if all road vehicles applies collapsible steering columns, 1,300 fatalities and 23,000 non-fatal injuries could be avoided every year. So for the prominent safety of the driver the collapsible steering column design is implemented in the vehicles world wide. Proportionally the global market for the automotive collapsible steering is expected to grow at significant pace in near future.
Reducing engine compartment space, introduction of mid-size and small passenger vehicles with enhanced cabin space necessitated innovations regarding cabin comfort and seating features. Collapsible steering column is one such innovation which often marketed as a unique selling proposition by most of the automakers across the globe.
Automotive Collapsible Steering Column Market: Dynamics
One of the key drivers for collapsible steering column market is increasing concerns regarding mitigation of impact of collision in the event of collision. Growing number of vehicles on the road is leading to the occurrence of traffic congestion and leading to increasing probability of accidents in which front collisions occurs more often. Hence the driver is more vulnerable in case of accidents.
Collapsible steering column has certain application and is quite popular among all categories of vehicles. Not only does the collapsible steering column protects the driver from the impact of collision but it also provides comfortable arrangement for the senior citizens and physically challenged persons. When the steering column is collapsed it creates more space for the driver to get in and out of the vehicle providing convenience to the persons who need extra space.
Various government regulations with respect to increased safety solution in the automotive market is one of the key drivers of automotive collapsible steering column market.
For better handling of the vehicle automotive industry came up with the concept of Multi-axle dynamic steering system. In addition, the concept of foldable steering wheel is also growing at a speedy rate.
Continuous growing competition in the automotive industry in terms of quality, cost, performance and size of the product will be the challenge for the manufacturers to produce their product most prominently. Increasing cost pressure on automotive OEMs will also be a challenge to be tackled.
Automotive Collapsible Steering Column Market: Segmentation
Automotive Collapsible Steering Column market can be segmented by vehicle type
Automotive Collapsible Steering Column Market: Regional Outlook
The global automotive collapsible steering column market is expected to grow owing to its necessary safety and comfort features across the globe. Asia Pacific, owing to its expanding automotive sector is slated to witness substantial growth in the automotive collapsible steering column market during the forecast period. High demand and consequently, high production of vehicles has been observed in countries, such as China and India, which in turn is creating a potential growth opportunity for the collapsible steering column market. Asia Pacific
Automotive Collapsible Steering Column Market: Market Participants
Examples of some of the market participants in the global automotive collapsible steering column market identified across the value chain include:
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
The main aim of the report is to:
MRR.BIZ is a leading provider of strategic market research. Our vast repository consists research reports, data books, company profiles, and regional market data sheets. We regularly update the data and analysis of a wide-ranging products and services around the world. As readers, you will have access to the latest information on almost 300 industries and their sub-segments. Both large Fortune 500 companies and SMEs have found those useful. This is because we customize our offerings keeping in mind the specific requirements of our clients.