Global Automotive Collapsible Steering Column Market 2017-2021

Overview of the global automotive collapsible steering column market

Technavio’s market research report predicts that the global automotive collapsible steering column market will grow at a CAGR of above 2% during the forecast period. The growing demand for electric power steering (EPS) that is driving the adoption of collapsible columns is one of the primary drivers for market growth. EPS helps the driver to steer the wheels of the vehicle with lower manual force and is widely adopted by passenger cars. The rising adoption of EPS systems is mainly due to advantages such as fuel efficiency and weight reduction, low development costs, and low-maintenance costs. The EPS systems also offer great handling and are currently used in the small and compact cars. Also, the introduction of strict emission and fuel efficiency norms in the developed countries and the increasing need for fuel-efficient cars are likely to boost the setup of EPS in passenger cars. This wide application of EPS systems will drive the adoption of collapsible steering columns, in turn, fueling market growth.

One of the latest trends that will gain traction in the global automotive collapsible steering column market is the development of foldable steering wheel concept. Developed to protect the driver from a fatality during a collision on the front, the collapsible steering column allows the driver to guard his/her head against hitting the steering. A concept for collapsible steering column has already been designed by ZF-TRW where the steering wheel retracts completely into the dashboard. This concept offered more space on the front and was targeted at senior drivers providing them the convenience to get in and out of the vehicle easily. 

Competitive analysis and key vendors

The global automotive collapsible steering column market consists of vendors competing in terms of quality, size, and performance of their products. With the introduction of steer-by-wire technology, the competition among the existing collapsible steering column vendors is likely to intensify in the coming years. Moreover, the market will also witness investments towards the development of new designs based on size and weight, which will also intensify the competition among the market players.

Key vendors in the market are:

• Bosch
• JTEKT Corporation
• Nexteer Automotive
• NSK
• Pailton Engineering

Other prominent vendors include Coram Group and Schaeffler.

Segmentation by vehicle type and analysis of the automotive collapsible steering column market

• Passenger cars
• Commercial vehicles

During 2016, the passenger cars vehicle type segment dominated the global automotive collapsible steering column market. However, due to the growing adoption of commercial vehicles across the globe and the increasing focus of safety features, the commercial vehicle market will witness a higher growth and dominate the market by the end of the forecast period.  

Geographical segmentation and analysis of the automotive collapsible steering column market

• Americas
• APAC
• EMEA

In terms of geography, APAC led the global automotive collapsible steering column market during 2016 and is expected to continue the domination during the forecast period. The increasing adoption rates of the passenger cars and commercial vehicles will drive market growth in the region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global automotive collapsible steering column market?
• What are the key market trends impacting the global automotive collapsible steering column market?
• What are the challenges to market growth?
• Who are the key vendors in the global automotive collapsible steering column market?
• What are the market opportunities and threats faced by the vendors in the global automotive collapsible steering column market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global automotive collapsible steering column market?

Technavio also offers customization on reports based on specific client requirement.