The global steering column control modules market is projected to have a high-paced CAGR of 7.4% during the forecast period. The current valuation of the steering column control modules market is US$ 17.76 Bn in 2022. The value of the steering column control modules market is anticipated to reach a high of US$ 36.27 Bn by the year 2032.
| Attributes | Details |
|---|---|
| Steering Column Control Modules Market Size (2022) | US$ 17.76 Million |
| Steering Column Control Modules Market Size (2032) | US$ 36.27 Million |
| Steering Column Control Modules Market CAGR | 7.4% |
The non-automated or semi-automated passenger cars and commercial vehicles are expected to stay in existence for a very long time to come, including the steering wheel, even if the share of autonomous shuttles and taxis grows in the upcoming decade.
Its shape and purpose, though, are evolving. To satisfy modern car manufacturers and consumer criteria, the steering wheel needs to evolve. Interior design, highly automated driving, and safety, as well as governmental and commercial obligations, are the key drivers of these developments. This is likely to generate opportunities in the steering column control modules market share.
In reality, steering wheels that are anticipated to be provided by key companies in the near future are likely to continue to range from round to rectangular, with all variations in between, from slightly flattened to octagonal. These closed-rim steering wheel designs have been effective in the past; they are ergonomic and familiar to the driver.
However, with different control components, it is projected that the distance between the rim will alter greatly. This is expected to contribute to the global steering column control modules market growth in the forecast period.
Key players have introduced a broad range of products, ranging from tightly integrated high-end steering column modules in premium class vehicles with connection to the vehicle bus to combined steering column switches for compact cars with proven contact systems used to switch high-power applications.
They provide cutting-edge trends, including steering angle sensors, tactile feedback, rotary couplers, premium plastic surfaces with chrome accents, display/camera/gear selector switch integration, and contactless switching using 3D Hall sensor technology. These new features are intriguing consumers and increasing the sales of steering column control modules.
Advanced Driver Assistance Systems, or ADAS for short, is expected to spread more widely as the top automakers in the world continue to create safer, more advanced automobiles. These sophisticated, interconnected devices are assisting drivers and enhancing traffic safety.
Anti-Lock Brake Systems (ABS), which are now a common feature on many cars, work by sensing variances in wheel speeds and quickly pulsing the brakes until one wheel is rotating at the same speed as the others in order to prevent the wheels from locking up during emergency stops.
Because they directly manage the vehicle's security features, the adoption of steering column control modules is crucial as pieces of safety equipment. Top market companies' products meet O.E. criteria for performance and durability, assuring long and safe driving. Intelligent steering wheel controls make it easier and more intuitive for drivers to operate the car while keeping their hands on the wheel.
Based on cutting-edge technology that is now in production, hands-on detection is uniquely suited to both manual and automated driving phases, as well as moving from one to the other.
The demand for steering column control modules is likely to rise as their installment guarantees a precise fit on the vehicle without the need for modification or manipulation because they are 100% Original Equipment (O.E.) goods. In order to withstand the harshest environments, products are tested in the gravest conditions (extreme temperatures, humidity, dust, etc.).
The key players assert that every top steering column control module they provide in the aftermarket is an entirely unique creation made in their reputed factories. In the "Passenger Cars and Trucks" segment, they also create a large range of goods for French, Italian, and German companies.
Additionally, they provide a comprehensive range of extra services, such as fitting videos and technical assistance. All these aspects are anticipated to surge product demand and expand the global steering column control modules market size.
Automobile design, operation, aesthetics and technology are continuously evolving and witnessing significant advancements. Previous designs and operations in automobiles included various switches for different purposes, which were simple in design but complex in operation. Especially, steering systems witnessed prominent advancements in past decade.
Development of hybrid, electric and hydraulic steering are some of the examples. Integration of various operational switches for convenience in steering wheels and column is indeed a timely innovation, which can also be claimed as one amongst the important innovation in an automobile.
It was never thought that someone could come up with an idea of Steering Column Control Module (SCCM) where one can control the switches very comfortably with ease while driving. The safety and the ease of driving an automobile has increased considerably due to the installation of steering column control modules on the steering wheel of vehicles.
The module which controls the switches “on” or “around/below” the steering wheel are known as the steering column control modules. Typically, there are many electromechanical systems installed on the steering wheels nowadays in automobiles. A Steering column control module is mounted on the steering column but it is placed below the steering wheel, this steering column module is the main network for all the systems surrounding it.
The operating switches known as the stalk lever switches, are positioned to the right and the left sides of the steering column control modules. The stalk lever switches and the controls which are mounted on the steering wheel and systems i.e. (sound controls buttons, cruise controls, horns, Bluetooth and hands free calling buttons and air bags) are all connected with the other system through the Steering Column Control Module.
Typical assembly components of steering column control module includes circuit board, connectors and electrical wire cables for interconnection between the systems. The features and controls which are provided in the steering column control module are also dependent the type of the automobile i.e.
Passenger Cars, Commercial Vehicles, Transport vehicles etc. Introduction of new technologies, comfort features and active safety systems in vehicles is expected to drive steering column control modules market in near future.
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The market of steering column control module has been marked with presence of established players. A challenging task in steering column control modules market is to manufacture these modules as the interconnection between many components and the systems in the steering assembly.
The automotive manufacturers are heavily dependent on the providers of the steering system owing to their technological expertise. Steering column control module market is witnessing continuous development from its providers with new ideas and innovation.
Increasing safety of vehicle occupants and pedestrians is one of the prime concerns of automakers and many manufacturers are trying to develop steering column control modules so that safety and comfort features are enhanced to a much higher level. As per the current scenario, steering column control modules have become integral part of automobiles.
The increasing standard of cabin comfort level has triggered utilization of requirement specific or custom made steering column control modules in great demand and this is expected to provide significant boost in the near future. The market for the steering column control modules is expected to provide significant opportunities to component providers, integrators and original equipment manufacturers across the globe.
Steering Column Control Modules can be divided into seven different geographical regions/divisions such as North America, Latin America, Western and Eastern Europe, Asia-Pacific Excluding Japan (APEJ), Japan, Middle East and Africa. The demand for steering column control modules is significant in Asia Pacific followed by Europe and North America owing to automotive steady rates of production volumes and sales.
Owing to lack of production facilities in Middle East and Africa and relatively low production of vehicles in Latin America, the market potential of steering column control module is low. The Asian giant countries like India and China which have significant sales and production of automobiles are expected to witness momentous growth in steering column control module market in the coming years.
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The research report on global steering column control module market presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.
Steering Column Control Modules can be segmented by type of sales channel, by components position and automobile type.
The market is likely to register a CAGR of 7.4% through 2032.
The market is currently valued at US$ 17.76 Bn in 2022.
The market is likely to grow to a valuation of US$ 36.27 Bn by 2032.
Asia Pacific is likely to be a leading market during the forecast period.
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Steering Column Control Modules Market
