Press release
Electrical Steering Column Lock Market Forecast To 2024 Global Key Players: Robert Bosch, Nexteer Automotive, NSK Ltd., ZF Friedrichshafen AG, Nissan, and Valeo
Electrical Steering Column Lock Market
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Blow molding is likely to account for highest rear spoiler market revenue share surpassing USD 2 billion till 2024. High usage of this technology for production of plastic spoilers will primarily drive the segment’s growth. High revenue generation can also be attributed to its benefits such as reduced weight, cost effectiveness, and flexibility in design. Injection molding will grow significantly over the coming years owing to high usage for bulk production.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Nexteer Automotive
2. Robert Bosch
3. ZF Friedrichshafen AG
4. NSK Ltd.
5. Nissan
6. U-Shin Ltd
7. Johnson Electric
8. Valeo
9. Huf Hülsbeck & Fürst GmbH & Co. KG.
10. Minda VAST Access Systems Pvt. Ltd.
Electrical Steering Column Lock Market by Vehicle
• PCV
• LCV
• HCV
• Special utility vehicles
• Motorcycles
Electrical Steering Column Lock Market by Distribution Channel
• OEM
• Aftermarket
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Light commercial vehicles will exhibit over 6% CAGR till 2024 in global electrical steering column lock market. Modern vehicles are equipped with advanced products for the comfort of driver, thus escalating the product penetration. In Europe, it is anticipated that half of the trucks operating on the road will have the lock installed by 2024.
Transformation of auto industry as the technology matures will influence industry trends and automaker relationships. Innovative features are becoming common in new upmarket automobiles. Industry share may shift to new participants while conventional OEMs will be pressurized to escalate their drive for innovation. Aftermarket segment is expected to grow faster than OEMs and is likely to reach USD 6 billion by 2024.
Asia Pacific electrical steering column lock is projected to be dominant till 2024 which can be credited to increased vehicle manufacturing across the region. China witnesses increasing SUV sector and is likely to be one out of every two cars sold over the predicted time span thereby contributing in regional revenue generation. Rising automobile production coupled with high domestic demand will improve the country’s share over the study period.
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North America was worth USD 4 billion in 2016 and will register gains approximately at 6.5% by 2024 due to its matured automobile industry. Further, presence of well-established industry participants in the region will influence the regional business demand over the projected period.
Nexteer Automotive, Nissan, ZF Friedrichshafen AG, and Valeo are the significant manufacturers in the electrical steering column lock market. Other notable OEMs are Minda VAST Access Systems Pvt. Ltd., U-Shin Ltd., and Huf Hülsbeck & Fürst GmbH.
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