Steering Column Control Modules Market to Grow with a CAGR of 11.2% through 2030
The
global steering column control modules market is driven by the increasing
adoption of electric vehicles, the growing demand for advanced driver
assistance systems (ADAS), and the shift towards autonomous driving
technologies. These factors are driving the market in the forecast period
2026-2030.
According
to TechSci Research report, “Steering Column Control Modules Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F”,
The Global Steering Column Control Modules Market was valued at USD 6.8 Billion
in 2024 and is expected to reach USD 12.7 Billion by 2030 with a CAGR of 11.2%
during the forecast period. The global steering column control modules market
is poised for significant growth, driven by the increased demand for vehicles
featuring advanced safety features and improved comfort. With the rising number
of electric vehicles (EVs) and autonomous vehicle developments, steering column
control modules are becoming essential for enhancing driving experience and
ensuring vehicle safety. As more automakers integrate steering systems that
offer better ergonomics and precision, steering column control modules are
becoming more sophisticated, incorporating features such as power adjustability
and memory functions to cater to consumer needs. There is a noticeable trend
towards the development of steer-by-wire technology, which eliminates the
traditional mechanical link between the steering wheel and the wheels, offering
a more flexible and responsive driving experience. This innovation is
especially relevant in the context of autonomous vehicles, where the need for
conventional steering systems is reduced. Moreover, the increasing regulatory
focus on vehicle safety and crash performance is further fueling the demand for
advanced steering solutions. As automotive manufacturers strive to meet higher
safety standards, steering column control modules equipped with redundancy
features and precise control systems are being integrated into both new vehicle
models and upgrades for existing vehicles.
The market
also presents numerous opportunities for growth, with the rising demand for
comfort-oriented features in vehicles. Consumers are increasingly looking for
adjustable steering systems that can be personalized, ensuring optimal comfort
during driving. With the continuous advancements in vehicle technologies and
the growing consumer preference for intelligent systems that improve safety and
convenience, the steering column control modules market is expected to continue
its upward trajectory in the coming years. Challenges, such as ensuring system
reliability and meeting diverse regulatory requirements, remain but are
expected to be addressed with technological innovations.
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Steering Column Control Modules Market Is Segmented By
Vehicle Type, Type, End-User, and Region.
The global steering column control modules market is
segmented into OEM (Original Equipment Manufacturers) and the aftermarket. The
OEM segment primarily focuses on vehicle manufacturers who integrate steering
column control modules during the production phase, offering tailored solutions
for new models. With the growing demand for safety features, comfort systems,
and ergonomic designs, OEMs continue to prioritize high-performance steering
column control systems in their vehicle production processes. In the
aftermarket segment, steering column control modules are provided to customers
for vehicles requiring upgrades, replacements, or aftermarket customization.
This segment benefits from the increasing consumer interest in improving their
vehicle's comfort and safety features after purchase. As vehicles age, demand
for replacements of steering column control modules increases, especially in
markets with a high volume of older vehicles. Additionally, consumers who seek
personalized driving experiences often turn to aftermarket solutions to modify
steering systems to suit their preferences. Both segments are seeing steady
growth, as more vehicles require these advanced systems, either through new
manufacturing or system replacements in older models.
In 2024, the Asia-Pacific (APAC) region is expected to see
the fastest growth in the global steering column control modules market. The
automotive industry in this region is expanding rapidly, driven by increasing
vehicle production, particularly electric vehicles. The demand for advanced
safety systems and steering technologies is growing in countries like China,
India, and Japan, where major automotive manufacturing hubs are located. These
countries are leading the charge in producing both traditional and electric
vehicles, creating a significant need for steering column control modules that
offer enhanced safety, comfort, and adaptability. As more consumers in the APAC
region seek vehicles equipped with modern technologies, the demand for advanced
steering column systems is expected to increase. Moreover, the region is seeing
substantial investment in research and development for innovative steering
technologies, such as steer-by-wire systems and systems integrated with
autonomous driving technologies. The growing middle class and improving vehicle
purchasing power in countries like India and China also contribute to the
rising demand for advanced automotive systems. The region's strong
manufacturing and supply chain infrastructure further supports the growth of
the steering column control modules market, making it a key area for market
expansion in 2024.
Major
Market Players Operating in Global Steering Column Control Modules Market Are:
- Delphi
Technologies
- DENSO
Corporation
- ZF
Friedrichshafen AG
- JTEKT
Corporation
- Lear
Corporation
- Autoliv
Inc.
- Valeo
SA
- Aisin
Seiki Co., Ltd.
- Mitsubishi
Electric Corporation
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The Global Steering Column Control Modules Market is
experiencing significant growth as manufacturers focus on improving vehicle
safety, enhancing driving experience, and meeting evolving consumer demands for
advanced automotive components. Steering column control modules are
transforming the automotive industry by providing vehicles with precise
control, improved ergonomics, and enhanced safety features, thereby boosting
vehicle performance and user satisfaction. As materials and manufacturing
technologies advance, automakers are incorporating lightweight, durable
materials and innovative designs to create more efficient steering systems that
contribute to vehicle weight reduction and fuel efficiency. Innovations in
technology, such as steer-by-wire systems and custom solutions for electric
vehicles, are enhancing the functionality and sustainability of steering column
control modules. Furthermore, increasing consumer awareness of vehicle safety
and comfort, along with government regulations aimed at improving vehicle
safety standards, is driving the adoption of advanced steering systems. The
growing demand for electric and autonomous vehicles, along with the expansion
of the aftermarket segment, is further fueling market growth. According to Mr.
Karan Chechi, Research Director, of TechSci Research, a research-based management consulting firm.
"Steering Column Control Modules Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Vehicle Type (Passenger Cars, Commercial Vehicles), By Type (Electronic Steering Column Control Modules, Mechanical Steering Column Control Modules), By End-User (OEM, Aftermarket), By Region, By Competition, 2020-2030F”,
assesses the market's future growth potential and provides data on market size,
trends, and forecasts. It aims to offer comprehensive market insights, helping
decision-makers make informed investment choices. The report also highlights
emerging trends, key drivers, challenges, and opportunities in the Global
Steering Column Control Modules Market.
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