Steering Column Control Module Market: Global Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation by Steering Type, Vehicle Type, Distribution Channel, and Region

  • Steering Column Control Module Market was valued at USD 20.75 billion in 2023. Global Steering Column Control Module Market size is estimated to grow at a CAGR of 8.1% over the forecast period.

  • Format : PDF | Report ID : SMR_721

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. With the use of steering Column control modules, the other controls on the steering wheel are connected to another system.

 

Further, the Steering Column Control Module market is segmented by Steering Type, Vehicle Type, Distribution Channel, and geography. On the basis of Steering Type, the Steering Column Control Module market is segmented under Steering Type, Vehicle Type, and Distribution Channel, Based on the Steering Type, the Steering Column Control Module market is segmented under Manual Steering and Power Steering. Based on the Vehicle Type, the Steering Column Control Module market is segmented under Passenger Cars and Commercial Vehicles. By geography, the market covers the following regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion/Million).

 

Steering Column Control Module Market

 

To get more Insights: Request Free Sample Report

 

Steering Column Control Module Market Dynamics:

Market Drivers:

 

Heavily dependence of automotive manufacturers on the provider of the steering system: Because of their technological competence, vehicle manufacturers are significantly reliant on steering system vendors. The market for steering column control modules is always evolving as providers come up with new ideas and innovations.

 

Increased safety for car occupants and pedestrians is one of the automakers' top priorities, and many companies are working on steering column control modules to improve safety and comfort. In today's world, steering column control modules have become an essential component of automobiles.

 

Vehicle safety laws, enforced by the government: Due to the mandated use of steering column modules for driver safety, the frontal automotive steering column module market is forecasted to rise significantly. Also, one of the primary concerns of automakers is the increased safety of vehicle occupants and pedestrians, and many manufacturers are working to develop steering column control modules to improve safety and comfort features to a much higher degree. Also, governments' emphasis on safety and rising customer awareness have compelled automakers to include safety features in vehicles.

 

Demand for a safer and more efficient driving experience is increasing: As customers' purchasing power grows around the world, demand for efficient driving is increasing. Manufacturers are constantly enhancing the quality of their safety equipment as the usage of premium automobiles grows. Also, improvements to the steering system's thermal qualities inflate a substantially larger amount of air, providing improved protection in the case of a crash. During the forecast period, an increase in demand for premium vehicles is likely to enhance the steering column module market.

 

Market Restraints:

 

Market Growth Will Be Restricted by Growing Adoption of Shared Mobility: Customers benefit from shared mobility since it is more cost-effective than owning a car. Users can save up to USD 300 per month compared to buying a car, according to SOCAR, a Malaysia-based car-sharing service provider. Also, traffic congestion and environmental concerns, particularly in China and India, are hastening the adoption of shared mobility. As a result of these reasons, vehicle ownership will decline, thus limiting the global steering column control module market's growth.

 

Market Opportunity:

 

Raising the level of cabin comfort: The rising standard of cabin comfort has prompted a surge in demand for requirement-specific or custom-made steering column control modules, which is forecast to result in a major increase in the near future. Component providers, integrators, and original equipment manufacturers are likely to benefit greatly from the market for steering column control modules.

 

Market Challenges:

 

One component damage results in removing the complete unit: The steering column control module's components, such as the steering angle sensor, clock spring, multifunction switch, steering column power tilt, telescope switch, trim cover, and ignition switches, must all be replaced as a unit if they are broken or ineffective. This factor is also a great challenge for the market.

 

Steering Column Control Module Market Segment Analysis:

By Steering Type, 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. Due to 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.

 

Steering Column Control Module Market

 

 

By Vehicle Type, The passenger car sector led the market in 2023, which can be ascribed to reduced maintenance and repair costs, spare parts availability, improved fuel efficiency, and increased driving comfort. In addition, the commercial vehicle segment is forecast to rise strongly in the market. The growth of this segment will be fuelled by decreasing the total cost of ownership and multi-brand manufacturers offering more market-tailored Steering Types and pricing methods.

 

 

Steering Column Control Module Market Regional Insights:

During the forecast period, Asia-Pacific accounted for 43% of the market share in 2023. The Asia-Pacific region is expected to witness significant growth at a CAGR of 4.53% through the forecast period. The primary markets for steering column control modules in Asia-Pacific are China, Japan, and South Korea. This is because of the increased use of customer-friendly measures such as subsidies, cheaper lending rates, and other incentives in China and India, which have resulted in increased auto sales.

 

North America is also forecast to see significant market growth. In the United States, the majority of the population lives in the suburbs, which provide inferior alternatives to private autos. Also, around 80% of workers in the United States utilize autos for commuting. These factors are to blame for the region's continuous development in automotive sales, which will drive up demand for steering column control modules over the forecast period.

 

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 Steering Type 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 Global Steering Column Control Module market to the stakeholders in the industry. The report provides trends that are most dominant in the Global 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 Global 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 Global 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 Global Steering Column Control Module market. The report studies factors such as company size, market share, market growth, revenue, Steering Type ion volume, and profits of the key players in the Global 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 Steering Type quality is in the Global Steering Column Control Module market. The report also analyses if the Global 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, and 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 Global Steering Column Control Module market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Global Steering Column Control Module market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Global Steering Column Control Module market is aided by legal factors.

 

Steering Column Control Module Market Scope:

Steering Column Control Module Market 

Market Size in 2023

USD 19.2 Bn.

Market Size in 2030

USD 33.25 Bn.

CAGR (2024-2030)

8.1 %

Historic Data

2018-2022

Base Year

2023

Forecast Period

2024-2030

Segment Scope

By Steering Type

  • Manual Steering
  • Power Steering

By Vehicle Type

  • Passenger Cars
  • Commercial Vehicles

By Distribution Channel

  • Original Equipment Manufacturer
  • Aftermarket sellers

Regional Scope

North America- United States, Canada, and Mexico

Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe

Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC

Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa

South America – Brazil, Argentina, Rest of South America

 

Steering Column Control Module Market Key Players: 

  • Valeo
  • Ididit
  • ZF TRW
  • Delphi Automotive LLP
  • Leopold Kostal Gmbh & Co. KG
  • Nexteer Automotive
  • BorgWarner Inc.
  • DENSO Corp.
  • Eaton Corp. Plc
  • HELLA GmbH and Co. KGaA
  • Hyundai Motor Group
  • Merit Automotive Electronics Systems 
  • Texas Instruments Incorporated

 

Regional Breakdown:

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

 

North America Steering Column Control Module Market: Industry Analysis and Forecast (2024-2030)

 

South America Steering Column Control Module Market: South American Industry Analysis and Forecast (2024-2030)


Frequently Asked Questions

The segments covered in the Steering Column Control Module Market report are based on Steering Type, Vehicle Type, and Distribution Channel.

  1. Scope of the Report
  2. Research Methodology
    • Research Process
    • Global Steering Column Control Module Market: Target Audience
    • Global Steering Column Control Module Market: Primary Research (As per Client Requirement)
    • Global Steering Column Control Module Market: Secondary Research
  3. Executive Summary
  4. Competitive Landscape
    • Market Share Analysis by Region in 2022(%)
      • North America
      • Europe
      • Asia Pacific
      • Middle East and Africa
      • South America
    • Stellar Competition matrix
      • Global Stellar Competition Matrix
      • North America Stellar Competition Matrix
      • Europe Stellar Competition Matrix
      • Asia Pacific Stellar Competition Matrix
      • South America Stellar Competition Matrix
      • Middle East and Africa Stellar Competition Matrix
    • Key Players Benchmarking: - by Steering Type, Pricing, Investments, Expansion Plans, Physical Presence, and Presence in the Market.
    • Mergers and Acquisitions in Industry: - M&A by Region, Value, and Strategic Intent
    • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
    • Market Challenges
    • PESTLE Analysis
    • PORTERS Five Force Analysis
    • Value Chain Analysis
  5. Global Steering Column Control Module Market Segmentation
    • Global Steering Column Control Module Market, by Region (2022-2029)
      • North America
      • Europe
      • Asia-Pacific
      • Middle East & Africa
      • South America
    • Global Steering Column Control Module Market, by Steering Type (2022-2029)
      • Manual Steering
      • Power Steering
    • Global Steering Column Control Module Market, by Vehicle Type (2022-2029)
      • Passenger Cars
      • Commercial Vehicles
    • Global Steering Column Control Module Market, by Distribution Channel (2022-2029)
      • Original Equipment Manufacturer
      • Aftermarket sellers
  6. North America Steering Column Control Module Market Segmentation
    • North America Steering Column Control Module Market, by Steering Type (2022-2029)
      • Manual Steering
      • Power Steering
    • North America Steering Column Control Module Market, by Vehicle Type (2022-2029)
      • Passenger Cars
      • Commercial Vehicles
    • North America Steering Column Control Module Market, by Distribution Channel (2022-2029)
      • Original Equipment Manufacturer
      • Aftermarket sellers
    • North America Toys Market, by Country (2022-2029)
      • United States
      • Canada
      • Mexico
  7. Europe Steering Column Control Module Market Segmentation
    • Europe Steering Column Control Module Market, by Steering Type (2022-2029)
    • Europe Steering Column Control Module Market, by Vehicle Type (2022-2029)
    • Europe Steering Column Control Module Market, by Distribution Channel (2022-2029)
    • Europe Steering Column Control Module Market, by Country (2022-2029)
  8. Asia Pacific Steering Column Control Module Market Segmentation
    • Asia Pacific Steering Column Control Module Market, by Steering Type (2022-2029)
    • Asia Pacific Steering Column Control Module Market, by Vehicle Type (2022-2029)
    • Asia Pacific Steering Column Control Module Market, by Distribution Channel (2022-2029)
    • Asia Pacific Steering Column Control Module Market, by Country (2022-2029)
  9. Middle East and Africa Steering Column Control Module Market Segmentation
    • Middle East and Africa Steering Column Control Module Market, by Steering Type (2022-2029)
    • Middle East and Africa Steering Column Control Module Market, by Vehicle Type (2022-2029)
    • Middle East and Africa Steering Column Control Module Market, by Distribution Channel (2022-2029)
    • Middle East and Africa Steering Column Control Module Market, by Country (2022-2029)
  10. South America Steering Column Control Module Market Segmentation
    • South America Steering Column Control Module Market, by Steering Type (2022-2029)
    • South America Steering Column Control Module Market, by Vehicle Type (2022-2029)
    • South America Steering Column Control Module Market, by Distribution Channel (2022-2029)
    • South America Steering Column Control Module Market, by Country (2022-2029)
  11. Company Profiles
    • Key Players
      • Valeo
        • Company Overview
        • Steering Type Portfolio
        • Financial Overview
        • Business Strategy
        • Key Developments
      • Ididit
      • ZF TRW
      • Delphi Automotive LLP
      • Leopold Kostal GmbH & Co. KG
      • Nexteer Automotive
      • BorgWarner Inc.
      • DENSO Corp.
      • Eaton Corp. Plc
      • HELLA GmbH and Co. KGaA
      • Hyundai Motor Group
      • Merit Automotive Electronics Systems
      • Texas Instruments Incorporated
  12. Key Findings
  13. Recommendations

Enquiry Before Buy


Request Sample PDF