Automotive Collapsible Steering Column Market Research Report – Global Forecast to 2023. The Automotive Collapsible Steering Column market has witnessed transcendent change recently, owing to the rapid technological development in the automotive industry. With the advent of power steering, individuals have been exposed to a steering technology. This technology is not only superior in terms of technology as compared to traditional manual steering systems, but also more responsive and aids fuel efficiency. Electronic control over steering systems are expected to significantly impact the progress in the market owing to the increasing demand from end-users, for improving efficiency, safety and comfort.
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The key players of global automotive collapsible steering column market are Robert Bosch GmbH(Germany), Nexteer Automotive(U.S.), Schaeffler Technologies AG & Co(Germany), Pailton Engineering(U.K.) , JTEKT Corporation(Japan), NSK Ltd.(Japan), Coram Group (Italy), Sweet Manufacturing, Inc.(U.S.) and Douglas Autotech Corporation (U.S.). In 2016, these companies accounted for a share of XX% of the global market.
In this context, the collapsible steering column system, helps in aiding the reduction in human effort required for rotating the steering wheel. This is done to enhance the driver usability experience and use technology to gauge and understand the driver driving pattern / skill to predict the future steering movement. This helps in reducing the fuel consumption, and thus makes this system all the more cost effective for driving the automobile. The collapsible steering also breaks down into distinct parts upon severe impact in the event of a mishap / accident thus causing less damage and possibly saving the life of someone. The global automotive collapsible steering column market is thus destined to grow at an unprecedented rate owing to its life saving property.
The global automobile market is seeing an increasing inclination towards acceptance for the collapsible steering column mechanism. North America region as a whole is known to have a penchant large vehicles (both passenger and commercial). The likes of SUVs are dominant in the buying decisions of the people for leisure and work related activities. The collapsible mechanism always helps in providing added security to market where high powered vehicles rule the roost. The Europe region is known for its fascination with high performance cars, where safety and passenger security has been stressed upon a lot in recent years, thus making this system an attractive proposition in the said market. The Asia Pacific region is said to be the next automotive hub of the 21’st century with factors like cheap labour, rising middle class, rising population and the increasing purchase power of the people. The people here, thus can afford and are willing to drive automobiles with enhanced safety features thus highlighting the importance of the collapsible steering mechanism.
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