Press release
Automotive Collapsible Steering Column Market is Expected to Witness a Steady Growth by 2025
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. By Vehicle type the automotive Collapsible Steering Column market can be segmented into: Passenger cars, Commercial cars.
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: Robert Bosch GmbH, Nexteer Automotive, Schaeffler Technologies AG & Co., Pailton Engineering, JTEKT Corporation, NSK Ltd., Coram Group, Sweet Manufacturing, Inc., Douglas Autotech Corporation.
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