Automotive Collapsible Steering Column Market Outlook - 2027
Automotive collapsible steering column is a machinery having two interlocking shafts, which collapse in a telescopic manner when compressed. Structure of steering column helps it to collapse in case of frontal impact. Owing to this mechanism during vehicle collision, the steering column trends to absorb maximum part of collision energy. This energy is further received in front of the vehicle. Collapsible steering 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.
COVID-19 SCENARIO ANALYSIS
- The global market for automotive collapsible steering column is severely impacted by the outbreak of the COVID-19 pandemic.
- The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
- Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
- Thus, insufficiency in raw material supply is expected to hamper the production rate of automotive collapsible steering columns, which negatively impact the market growth.
- However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
The significant factors leading to the growth of automotive collapsible steering column market are increasing safety measures while driving and speed growth of global automobile production. However, government regulations pertaining increased safety solution hampers the growth of the global market. On the other hand, continuous advancement in automotive steering technology and increasing use of electronics in automobiles, will fuel demand in the automotive collapsible steering column market.
Increasing safety measures while driving
Safety plays a major role in vehicle and henceautomotive collapsible steering column market offers safety to the driver. During the frontal collision the steering column collapses upward thus reducing the chance of moving the steering wheel closer to the driver. Thus increasing safety measures in automobiles leads to increasing demand of automotive collapsible steering column market.
Speed growth of global automobile production
Competition in automotive industries leads to reduced cost and improved quality. Safety plays a vital role in every vehicle and hence collapsible steering provides safety while driving. Increasing production of cars demand more number of collapsible steering column. Thus increasing production of automotive industries leads to increasing automotive collapsible steering column market in near future.
Key benefits of the report:
- This study presents the analytical depiction of global automotive collapsible steering column market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of global automotive collapsible steering column market share.
- The current market is analyzed to global automotive collapsible steering column market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global automotive collapsible steering column market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global automotive foam market research report:
- Which are the leading players active in global automotive collapsible steering column market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Automotive Collapsible Steering Column Market Report Highlights
By Drive type
By Vehicle type
Key Market Players
Pailton Engineering, Schaeffer Technologies AG & Co., Coram Group, JTEKT Corporation, Sweet Manufacturing, Inc., NSK Ltd., Robert Bosch GmbH, Nexteer Automotive, Douglas Autotech Corporation