The electrical steering column lock for automotive is a vehicle anti-theft device, which is fitted with the steering column, usually below the steering wheel. The electrical steering column lock is integrated with the ignition switch and engages and disengages electronically by the electronic control unit of the vehicle. The electrical steering column lock locks the steering in a position slightly off the straight position so that the car cannot roll off a hill. Most modern vehicles that are deployed with electrical steering column lock include Audi A6, BMW 5-series, Mercedes E-class, Volvo V70, Toyota Etios, Nissan Altima, Mitsubishi Mirage, and Volkswagen Passat.
Rise in demand for electric power steering in modern vehicles is expected to be a prime factor that is estimated to drive the demand for electrical steering column lock for automotive during the forecast period. An electrical steering column lock system improves the security of the vehicle against theft by locking the steering with the ignition lock. The steering column of the vehicle is simple to unlock, by inserting and turning the ignition key. The automotive industry is estimated to witness an increase in adoption of the electrical steering column lock system due to its technological advancements in enhancing anti-theft mechanisms. Rising competition in the market to ensure innovative components and alteration in the deployment of automotive components from mechanical to electrical are projected to boost the electrical steering column lock market during the forecast period. The electrical steering column lock market provides lucrative opportunities owing to its numerous benefits such as ease of installation, reliability, performance, and efficiency. However, arrival of the autonomous vehicle is likely to pose a threat to electrical steering column lock, as it uses artificial intelligence assistance to perform the same function. This is anticipated be a key factor that is likely to hamper the electrical steering column lock for automotive market during the forecast period.
The electrical steering column lock for automotive market can be segmented based on components, vehicle type, sales channel, and region. Based on components, the electrical steering column lock market can be bifurcated into four segments, which include connector, DC motor, and other segments. The connector segment holds a major share of the market, as compared to the other segments. The primary function of the connector is to attach the steering column into the vehicle.
Based on vehicle type, the electrical steering column lock for automotive market can be classified into passenger vehicles and commercial vehicles. The passenger vehicles segment accounts for a major share of the market, as compared to the commercial vehicle segment. The passenger vehicles segment can be further sub-segmented into sedans, multi-purpose vehicles, and sport utility vehicles. Rise in the number of passenger vehicles employed with electrical steering column lock is boosting owing to demand for safety awareness and anti-theft appliances.
Based on sales channel, the electrical steering column lock for automotive market can be divided into original equipment manufacturers (OEMs) and another segment. The OEMs segment holds a major share of the market owing to the higher demand for anti-theft devices and mechanisms. Most modern vehicles are equipped with electronic power steering, which in turn is boosting the electrical steering column lock market. The segment is expected to dominate during the forecast period.
In terms of geography, the electrical steering column lock for automotive market can be segmented into five regions. Among the regions, North America and Europe account for a major share of the global electrical steering column lock market due to the booming automotive sector in these regions, government regulations on safety systems, and increasing consumer demand for anti-theft appliances. This in turn is leading to an increased number of vehicles installed with electrical steering column lock. High adoption rate of electrical steering column lock in these regions is due to the presence of global automotive components manufacturers in the region, stability in economy, and increasing vehicle theft.
Major players operating in the global electrical steering column lock for automotive market include ZF Friedrichshafen AG, Valeo, Delphi, Robert Bosch GmbH, Nissan, Nexteer Automotive, NSK Ltd., and Huf Hülsbeck & Fürst GmbH & Co. KG., and others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.