Middle East & Africa Steering Column Control Module Market: Middle East & Africa Industry Analysis and Forecast (2024-2030)

Middle East & Africa Steering Column Control Module Market Definition:

Steering Column Control Modules are devices that allow the steering wheel to be connected to the rotational mechanism. The switches that are installed around the steering wheel are known as steering column control modules. The steering column control modules are made up of a casing and a printed circuit board with two electrical outlets. The steering column control modules serve as the hub for all of the systems that surround it. These modules improve the safety and convenience of driving a car.

 

Further, the Middle East & Africa Steering Column Control Module market is segmented by Steering Type, Vehicle Type, Distribution Channel, and geography. On the basis of Product, the Middle East & Africa Steering Column Control Module market is segmented under Manual Steering, and Power Steering. Based on the Vehicle Type, the Middle East & Africa Steering Column Control Module market is segmented under the Commercial Vehicle and Passenger Car. Based on the Distribution Channel, the Middle East & Africa Steering Column Control Module market is segmented under the Original Equipment Manufacturer and Aftermarket Sellers. By geography, the market covers the major countries in Middle East and Africa i.e., South Africa, Nigeria, Saudi Arabia, UAE, Kuwait, Egypt and Rest of Middle East and Africa For each segment, the market sizing and forecasts have been done on the basis of value (in USD Million).

 

 

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Middle East & Africa Steering Column Control Module Market Dynamics:

Gulf Countries' Economic Conditions:

    

The Gulf countries are economically advanced, whereas African countries must still balance the Gulf countries' economic situation. The Middle East & Africa Steering Column Control Module market is benefiting from factors such as an increase in the number of passenger and commercial cars on the road, as well as automated technology installed into the vehicles.

 

Africa High Unit Production in 2021:

 

Vehicles were produced in Africa in a total of 1,122,875 units. The Middle East and Africa market is growing because of increased vehicle production, an increase in the number of labour forces accessible for the market, rising disposable income, and rising demand for EPS. All of these variables would have a beneficial impact on the African market over the forecasted timeframe.

 

Government Initiative in the Region Benefited the Market:

 

The South African Automotive Master Plan (SAAM) was launched by the South African government with the goal of broadening and deepening local value chains. Automobile manufacturers in South Africa are also concentrating on bolstering their presence in the country which can further benefit the steering column control market. In addition, the Middle East & Africa electronic power steering market is being driven by current car electrification trends.

 

Minimises the Possibility of Harm:

 

With the support of driver assistance technologies, the Middle East & Africa Steering Column Control Module improves safety. It also eliminates the intermediate steering shaft, reducing the danger of damage to the driver from mechanical steering components while simultaneously improving the vehicle's passive safety.

 

End-users have been encouraged to adopt improved safety systems as the frequency of accidents has increased significantly. In all first-world countries, improvements in the roadway and vehicle design have steadily reduced injury and fatality rates across the region. In some developing countries, accident rates are still higher, and governments are focusing on enforcing strict safety rules and regulations and encouraging the deployment of various car subsystems.

 

Middle East & Africa Steering Column Control Module Market Segment Analysis:

By Product, in 2023, the segment with the most market share was power steering. In crucial situations, power steering needs less effort and improves safety and control. This segment's supremacy is fuelled by several causes. Because of its lower cost, reduced complexity, and more precise operation as more steering input is required, the manual steering category is expected to develop steadily during the forecast period.

 

By Vehicle Type, in 2023, the Middle East and Africa automotive steering system market by vehicle type was driven by commercial vehicles. Commercial vehicles include small commercial vehicles, big trucks, coaches, and buses (except for some countries in which the buses or heavy trucks data are not available). Light commercial vehicles, medium commercial vehicles, and heavy commercial vehicles are the three types of commercial vehicles. Cars with at least four wheels that are used to transport goods are known as light commercial vehicles (LCVs). Thus, in the forecasted period, increased demand for commercial cars is expected to contribute to the rise of Middle East & Africa Steering Column Control Module.

 

 

Middle East & Africa COVID-19 Impact Middle East & Africa Steering Column Control Module Market:

 

The COVID-19 outbreak has caused damage to the MEA region. South Africa has had the most COVID-19 cases of any MEA country. Iran, Turkey, Saudi Arabia, Israel, Morocco, the United Arab Emirates, Qatar, Kuwait, Oman, and Egypt are among the countries affected by COVID-19. Due to the large presence of a broad client base for the automotive and transportation industries, the region includes numerous emerging economies, such as the UAE and Saudi Arabia, among others, which are viable markets for electronic power steering providers.

 

The COVID-19 pandemic would have huge economic consequences, but the region has already been harmed by dropping oil prices, which have put a strain on the economies of numerous oil-producing countries. Also, plant closures, business closures, and travel bans are exacerbating the MEA's economic challenges. As a result, the forecasted downturn in the region's economic condition, as well as the influence of COVID-19 on the growth of various sectors in the region, are expected to have a negative impact on the electronic power steering market's development in 2020 and 2021.

 

Middle East & Africa Steering Column Control Module Market Regional Insights:

 

The Middle East and Africa Region have accounted for 8% in 2023 of the Steering Column Control Market with a CAGR of 4.1%. Owing to the lack of production facilities in the Middle East and Africa and comparatively low production of vehicles resulted in, the market potential of the Middle East & Africa Steering Column Control Module is low.

 

The governments of various African countries have recognized the importance of the automotive sector and are taking steps to assist and develop it. For example, the government of South Africa has launched the South African Automotive Master (SAAM) initiative, which intends to boost local value chains. Also, the country's car manufacturers are concentrating on strengthening their positions. In addition, the market for automotive steering systems in the country is being driven by recent breakthroughs in automobiles.

 

The Turkish market attracted $14 billion in investment from original equipment manufacturers two or three years back. Turkey became a critical element of the regional value chain of international OEMs as a result of these investments, which significantly increased their manufacturing capacity. Thanks to value-added production, Turkey's automobile sector is now extremely efficient and competitive, satisfying worldwide quality and safety standards. The country is a major producer of automobile parts, with a number of companies producing a variety of parts for the industry, including steering systems and suspension components. All of these elements are assisting in the market's growth in Turkey.

 

Middle East & Africa Steering Column Control Module Market Key Players Insights:

 

The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the global market, key players in the market, particularly in North America and Europe, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the Middle East & Africa Steering Column Control Module market to the stakeholders in the industry. The report provides trends that are most dominant in the Middle East & Africa Steering Column Control Module market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Middle East & Africa Steering Column Control Module Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Middle East & Africa Steering Column Control Module market report is to help understand which market segments, and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Middle East & Africa Steering Column Control Module market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Middle East & Africa Steering Column Control Module market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Middle East & Africa Steering Column Control Module market. The report also analyses if the Middle East & Africa Steering Column Control Module market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Middle East & Africa Steering Column Control Module market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Middle East & Africa Steering Column Control Module market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Middle East & Africa Steering Column Control Module market is aided by legal factors.

 

Middle East & Africa Steering Column Control Module Market Scope:

Middle East & Africa Steering Column Control Module Market
Market Size in 2023	USD 148.86 Mn.
Market Size in 2030	USD 197.21 Mn.
CAGR (2024-2030)	4.1%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Steering Type Manual Steering Power Steering
	By Vehicle Type Commercial Vehicle Passenger Car
	By Distribution Channel Original Equipment Manufacturer Aftermarket sellers
Country Scope	South Africa GCC Egypt Nigeria Rest of the Middle East and Africa

 

Middle East & Africa Steering Column Control Module Market Key Players: 

• Mitsubishi Electric Corporation (South Korea)
• nexteer automotive (US)
• NSK Ltd. (Japan)
• thyssenkrupp AG. (Germany)
• Valeo (France)
• Ididit (US)