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Driving Automotive Collapsible Steering Column Market Growth in 2025: The Role of The Rising Incidence Of Road Accidents Is Fueling The Growth Of The Market Due To Increasing Safety Needs
Automotive Collapsible Steering Column
Automotive Collapsible Steering Column Market Size Growth Forecast: What to Expect by 2025?
The market for automotive collapsible steering columns has experienced robust growth in the past few years. The market is projected to expand from $3.35 billion in 2024 to $3.56 billion in 2025, with a compound annual growth rate (CAGR) of 6.3%. The past growth in this market has been driven by factors such as increasing mandates for automotive safety, the rise in vehicle manufacturing in developing economies, heightened consumer awareness about crash protection, technological innovations in passive safety systems, and the priority given by Original Equipment Manufacturers (OEMs) to curb vehicle weight to enhance fuel efficiency.
How Will the Automotive Collapsible Steering Column Market Size Evolve and Grow by 2029?
In the upcoming years, the market size of the automotive collapsible steering column is predicted to experience robust growth. It is projected to expand to $4.52 billion by 2029, with a compound annual growth rate (CAGR) of 6.2%. This growth within the forecast period is attributed to increasing demands for electric and autonomous vehicles, the escalating adoption rate of advanced driver-assistance systems (ADAS), elevated investment in R&D for intelligent steering components, regulatory drive for pedestrian safety improvements, and the incorporation of collapsible steering columns with connected car frameworks. Observations for the forecast period involve electronic steering lock systems, lightweight composite materials usage, implementation of energy-absorbing mechanisms for improved crash safety, conceptualization of modular and tailor-made column designs, and the surge in automation in production processes for accuracy and efficiency.
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What Drivers Are Propelling the Growth of Automotive Collapsible Steering Column Market Forward?
The automotive collapsible steering column market is predicted to flourish due to the increasing prevalence of road accidents. One significant cause of this surge in accidents is distracted driving, often due to phone use or multitasking, which subsequently diverts a driver's focus from the road and elevates the probability of collisions. Automotive collapsible steering columns prove invaluable in these unfortunate incidents, as they lessen the extent of injuries by absorbing the impact and preventing the steering wheel from causing severe damage to the driver during crashes. For example, Eurostat, the statistical office of the European Union based in Luxembourg, indicated in March 2025 that road fatalities in Europe had risen by 3.7% to 20,652 in 2022, from 19,912 in 2021. Consequently, this escalating trend in road accidents is fueling the expansion of the automotive collapsible steering column market.
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Which Emerging Trends Are Transforming the Automotive Collapsible Steering Column Market in 2025?
Leading corporations in the automotive collapsible steering column market are prioritizing the development of technologically advanced items such as airbag-equipped steering wheels. These products aim to increase driver safety during accidents and meet the rigorous vehicle safety standards. Steering wheels with built-in airbags function by inflating during head-on collisions to shield the driver and diminish the probability of injury. They operate in conjunction with seatbelts and are a crucial element of a vehicle's passive safety mechanism. For example, in November 2023, Genesis Motor, an auto manufacturer based in South Korea, introduced a folding steering wheel with maintained airbag safety. This groundbreaking design enables the steering wheel's rim to bend downwards, thus creating extra room for easy entrance and exit. This feature is particularly beneficial for self-driving vehicles where the steering wheel is not constantly required. The system guarantees that the airbag will always face the driver, regardless of the steering wheel's position, ensuring passenger safety under all conditions.
What Are the Key Segments in the Automotive Collapsible Steering Column Market?
The automotive collapsible steering column market covered in this report is segmented -
1) By Type: Manual, Electric, Hydraulic
2) By Material: Steel, Aluminum, Composite, Plastic
3) By Mechanism Type: Energy Absorbing, Non-Energy Absorbing
4) By Vehicle Type: Passenger Vehicles, Commercial Vehicles
5) By End-Use: Original Equipment Manufacturer (OEM), Aftermarket
Subsegments:
1) By Manual: Tilt-Adjustable Manual Columns, Telescopic Manual Columns, Rack-And-Pinion Manual Columns
2) By Electric: Electrically Tilt-Adjustable Columns, Electrically Telescopic Columns, Memory-Function Electric Columns
3) By Hydraulic: Hydraulic Tilt Steering Columns, Hydraulic Telescopic Columns, Power-Assisted Hydraulic Columns
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Who Are the Key Players Shaping the Automotive Collapsible Steering Column Market's Competitive Landscape?
Major companies operating in the automotive collapsible steering column market are Mercedes-Benz Group AG, Ford Motor Co., Nissan Motor Co. Ltd., Volvo Car Corp., Magna International Inc., Mitsubishi Electric Corp., Subaru Corporation, Mazda Motor Corp., Aptiv Plc, Peugeot, Autoliv Inc., NSK Ltd., Visteon Global Technologies Inc., Itt Inc., Nastech Europe Ltd., Motors Liquidation Co., Robert Eckels Family Trust, Koyo Seiko Co. Ltd., Drivesol Watertown Inc., Steering Solutions IP Holding Corp.
What Geographic Markets Are Powering Growth in the Automotive Collapsible Steering Column Market?
North America was the largest region in the automotive collapsible 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 collapsible steering column market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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