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Growth Of Electric And Autonomous Vehicles Driving The Market Due To Enhanced Comfort Accessibility And Integration With Autonomous Systems: Critical Driver Shaping the Automotive Power Tilt And Telescopic Steering Column Market in 2025
Automotive Power Tilt And Telescopic Steering Column
Automotive Power Tilt And Telescopic Steering Column Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, there has been a significant expansion in the market size for automotive power tilt and telescopic steering columns. This market is projected to increase from a $3.92 billion value in 2024 to a $4.24 billion value in 2025, maintaining a compound annual growth rate (CAGR) of 8.1%. The exceptional growth during the historic period is a result of increased attention to car customization, rising demand for driver assistance systems, a growing emphasis on ergonomics, heightened health and wellness consciousness, and an escalating trend of smart vehicle adoption.
Automotive Power Tilt And Telescopic Steering Column Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the market for automotive power tilt and telescopic steering columns is set to experience robust growth. It is projected to reach a valuation of $5.74 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.9%. This predicted growth in the coming period could be due to the escalating demand for more comfortable vehicles, heightened consumer anticipation for luxury features, an increase in the use of electric vehicles, a rise in awareness regarding driver safety, and a boost in the demand for autonomous vehicles. Key trends expected within this forecast period include technological progress in steering mechanisms, the incorporation of electric power steering, progress in driver assistance systems, technological advancements in electric vehicle (EV) architecture, and improvements in autonomous driving technology.
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What Are the Drivers Transforming the Automotive Power Tilt And Telescopic Steering Column Market?
The emergence of electric and autonomous vehicles is set to fuel the expansion of the market for automotive power tilt and telescopic steering columns. Electric and autonomous vehicles (EAVs), that employ electric power for motion and autonomous driving mechanisms for non-human operation, are on the rise owing to environmental sustainability concerns. They effectively decrease carbon emissions, air contamination, and reliance on fossil fuels. The power tilt and telescopic steering column elevates the functionality of electric and autonomous vehicles by providing adjustable comfort and seamless integration with autonomous systems for superior manual control when required. For example, the Energy Information Administration, an agency of the US government, reported in December 2024 that the combined proportion of hybrid, plug-in hybrid electric, and battery electric vehicles (BEVs) in new light-duty vehicle (LDV) sales in the US surged from 19.1% in the second quarter of 2024 to 21.2% in the third quarter of the same year. Consequently, the growing presence of electric and autonomous vehicles is propelling the automotive power tilt and telescopic steering column market's growth.
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What Long-Term Trends Will Define the Future of the Automotive Power Tilt And Telescopic Steering Column Market?
Leading firms in the automotive power tilt and telescopic steering column sector are prioritising the creation of pioneering solutions such as advanced adjustable steering systems, in order to cater to the growing need for state-of-the-art driver-assistance technologies. Cutting-edge adjustable steering systems present a sophisticated method for precise electronic domination of tilt and telescopic locations, thereby improving driver comfort, safety, and compatibility with contemporary vehicle technologies. In particular, in May 2024, the CORAM Group, a company based in Italy that excels in the design and production of steering columns, marked the introduction of the new TITAN steering column as a substantial breakthrough for bus and coach driving. This revolutionary tilt and telescopic steering column, pitched specifically for buses and coaches, provides heightened comfort and safety to drivers via its pneumatic locking system. This progressive characteristic empowers drivers to effortlessly modify the tilt and telescopic positioning of the steering wheel, all while keeping their hands on the wheel, thus ensuring optimal ergonomics and decreased fatigue on extensive journeys.
Which Segments in the Automotive Power Tilt And Telescopic Steering Column Market Offer the Most Profit Potential?
The automotive power tilt and telescopic steering column market covered in this report is segmented -
1) By Product: Power Tilt Steering Column, Power Telescopic Steering Column, Combination (Tilt And Telescopic)
2) By Technology: Electric Power Steering (EPS), Hydraulic Power Steering (HPS), Manual Steering
3) By Vehicle: Passenger Cars, Commercial Vehicles
4) By Sales Channel: Original Equipment Manufacturer, Aftermarket
Subsegments:
1) By Power Tilt Steering Column: Manual Adjustment Tilt Mechanism, Memory Function Tilt Steering, Electric Motor-Driven Tilt Mechanism
2) By Power Telescopic Steering Column: Manual Adjustment Telescopic Mechanism, Memory Function Telescopic Steering, Electric Motor-Driven Telescopic Mechanism
3) By Combination (Tilt and Telescopic) Steering Column: Manual Tilt And Telescopic Combination, Memory Function Tilt And Telescopic Combination, Electric Tilt And Telescopic Combination
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Which Firms Dominate the Automotive Power Tilt And Telescopic Steering Column Market by Market Share and Revenue in 2025?
Major companies operating in the automotive power tilt and telescopic steering column market are Toyota Motor Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG, Thyssenkrupp AG, Hyundai Mobis Co. Ltd., Aisin Seiki Co. Ltd., Schaeffler AG, JTEKT Corporation, NSK Ltd., Mando Corporation, Nexteer Automotive Corporation, Kongsberg Automotive, Rane Group, CORAM Group, Delphi Technologies plc, Pailton Engineering Ltd., ONUR Hidromekanik Ltd., Ididit LLC, Flaming River Industries Inc., Sayam Auto Group Co. Ltd., Zhejiang Shibao Co. Ltd.
Which Regions Offer the Highest Growth Potential in the Automotive Power Tilt And Telescopic Steering Column Market?
Asia-Pacific was the largest region in the automotive power tilt and telescopic steering column market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive power tilt and telescopic steering column market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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