Automotive Electrical Steering Column Lock Market Size, Share & Industry Analysis, By Vehicle Type (Passenger cars, Light Commercial Vehicle, High Commercial Vehicle), By Sales Channel (OEMs, Aftermarket) and Regional Forecast, 2019-2026
The globalautomotive electrical steering column lock marketis anticipated to gain momentum from the high demand for electric power steering from the consumers of vehicles. It is likely to occur as electric power steering provides quick response and high fuel efficiency. This information is given by Fortune Business Insights™ in an upcoming report, titled, “Automotive Electrical Steering Column Lock Market Size, Share and Industry Analysis, By Vehicle Type (Passenger cars, Light Commercial Vehicle, High Commercial Vehicle), By Sales Channel (OEMs, Aftermarket) and Regional Forecast, 2019-2026.”
Fortune Business Insights™ presents a list of all the reputed companies operating in the automotive electrical steering column lock market. They are as follows:
Request a Sample Copy of the Market Research Report:
The report further mentions that the automotive manufacturers are persistently striving to revamp the anti-theft mechanisms, as well as the electric power steering system through technological advancements. Electrical steering column locks offer ease of installation, performance, efficiency, and reliability. These benefits are expected to accelerate the global automotive electrical steering column lock market growth during the forecast period.
Highlights of the Report
Passenger Cars Segment to Lead Backed by Rising Safety Concerns
On the bases of vehicle type, the market is fragmented into heavy commercial vehicles, light commercial vehicles, and passenger cars. Out of these, the passenger cars segment is forecasted to dominate the market spurred by the rising safety and security concerns amongst the masses. Additionally, the increasing adoption of electric power steering and the upsurging sales of passenger cars would also lead to the growth of this segment. The heavy commercial vehicles segment would also exhibit a steady growth in the coming years.
Rising Sales and Production of Passenger Cars to Bring North America to the Forefront
In terms of region, the market is divided into Asia Pacific, Europe, North America, and the rest of the world. Amongst these regions, Asia Pacific is projected to gain the highest automotive electrical steering column lock market revenue and lead during the forthcoming years. This growth is attributable to the rising production and sales of passenger cars in the emerging economies, such as India and China. Apart from that, the rising usage of electric vehicles in this region would also contribute to market growth in this region.
Browse Report Summary:
North America, on the other hand, is anticipated to exhibit decent growth in the coming years. The developed countries, such as the U.S., are upgrading the aging vehicles. Also, the governments of various countries in this region are implementing strict rules and regulations to install electric power steering. It would aid in the growth of the market in this region. Lastly, Europe would experience considerable growth over the forthcoming period stoked by the presence of various prominent automotive companies, namely, Volvo, Volkswagen, BMW, and Mercedes Benz. These companies are providing state-of-the-art locks to their vehicle line-up, which, in turn, is predicted to drive growth in this region.
Nexteer Automotive Teams Up with Dongfeng to Produce SPEPS Systems
Companies present in the market are engaging in joint ventures with other renowned organizations to serve their consumer bases and gain more automotive electrical steering column lock market share. Below is one of the most recent industry developments:
Ask for Customization:
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email:sales@fortunebusinessinsights.com
Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Automotive Electrical Steering Column Lock Market : Coronavirus Pandemic: Short and long-term actions taken by Key Players