Press release
Electrical Steering Column Lock Market 2018 Global Forecast by Key Players Nexteer Automotive, Bosch, ZF Group, NSK, Nissan Motor Corporation, Valeo
Electrical Steering Column Lock Market
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North America was valued for over USD 4 billion in 2016 and will register gains at over 6.5% by 2024 owing to the mature automotive industry. Moreover, with the presence of established manufacturers the regional business will enhance over the forecast period.
Asia Pacific is estimated to dominate the global electrical steering column lock market size till 2024. The growth can be attributed to increased automobile production across the region, especially in emerging economies including China, India, and Indonesia. China is recognized as the substantial contributor in the revenue generation. Increasing vehicle manufacturing along with rising domestic demand will enhance the country’s share over the estimated time.
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
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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.
Electric power steering will enhance the product adoption rate owing to its technical specifications such as space saving and high level of compatibility. With such notable features product acceptance is expected to rise over the forecast timeline.
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Robert Bosch, Nexteer Automotive, NSK Ltd., ZF Friedrichshafen AG, Nissan, and Valeo are among the significant producers in the electrical steering column lock market. Other notable manufacturers include U-Shin Ltd., Minda VAST Access Systems Pvt. Ltd., and Huf Hülsbeck & Fürst GmbH.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
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