Boonton, NJ -- (SBWIRE) -- 10/11/2018 -- Global Electrical Steering Column Lock Market Analysis
According to Verified Market Intelligence, The Global Electrical Steering Column Lock Market was valued at USD 11.40 billion in 2017 and is projected to reach USD 19.36 billion by 2025, growing at a CAGR of 6.9% from 2018 to 2025.
What is Electrical Steering Column Lock?
With growing automation and digitization in the automobile industry, introduction of column locks has contributed in preventing thefts. Column locks are generally located below the steering wheel and functions as an anti-theft device. Introduction of electrical steering column lock facilitated automatic locking of steering in a position which prevent vehicles from moving downhill and no mechanical key can ignite which eliminates the fear of fraud keys. The electrical steering column lock can only be operated using an electrical power system. Rapid advancement of autonomous vehicles in the transportation industry have boosted the electrical steering column lock market.
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Global Electrical Steering Column Lock Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Increased population have led to increased demands for passenger vehicles which is majorly driving the global electrical steering column market. Moreover, growing awareness regarding the EPAS system and growing preferences towards automated cars have also contributed in the growth of the market. Apart from this, expensive electrical power steering system as compared to traditional steering system might hinder the growth of global electrical steering column market.
Verified Market Intelligence narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The "Global Electrical Steering Column Lock Market" is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market. This can be of a great use in gaining knowledge about the cutting-edge technologies in the market.
Global Electrical Steering Column Lock Market Competitive Landscape
The "Global Electrical Steering Column Lock Market" study report will provide a valuable insight with an emphasis on global market including some of the major players such as Continental AG, Robert Bosch GmbH, Nissan, Johnson Electric, Valeo SA, U-Shin Ltd., ZF Friedrichshafen AG and many more. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
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Global Electrical Steering Column Lock Market Segmentation, by Vehicle
On the basis of Vehicle, Global Electrical Steering Column Lock Market is segmented into:
- Passenger Car Vehicle (PCV)
- Special Utility Vehicle
PCV held the largest market share in the year 2017 and is expected to grow at a significant CAGR between 2018 and 2025.
Global Electrical Steering Column Lock Market Segmentation, by Distribution Channel
On the basis of distribution channel, Global Electrical Steering Column Lock Market is categorized into:
The OEM segment accounted for the major share of the market in the year 2017 and is projected to grow at the highest CAGR over the forecast period.
Global Electrical Steering Column Lock Market Geographic Scope
- North America
o Rest of Europe
- Asia Pacific
o Rest of Asia Pacific
- Latin America
- Rest of the World
In term of geography, the North America region dominated the market in the year 2017. This region is expected to account for the largest share in the forthcoming years as it is the highest revenue contributor of the market.
Table Of Content
1 Introduction Of The Global Electrical Steering Column Lock
2 Executive Summary
3 Research Methodology Of Verified Market Intelligence
4 The Global Electrical Steering Column Lock Outlook
5 The Global Electrical Steering Column Lock, By Systems
6 The Global Electrical Steering Column Lock, By Service
7 The Global Electrical Steering Column Lock, By Verticals
8 The Global Electrical Steering Column Lock, By Applications
9 The Global Electrical Steering Column Lock, By Geography
10 The Global Electrical Steering Column Lock Competitive Landscape
Reason to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Electrical Steering Column Lock market
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Electrical Steering Column Lock market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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