Global Automotive Adjustable Steering System Market 2019-2023 | Increasing Popularity of Steering Column as an Advanced Safety System to Boost Growth | Technavio

LONDON--(BUSINESS WIRE)--Oct 25, 2019--

The global automotive adjustable steering system market is expected to post a CAGR of around 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global automotive adjustable steering system market 2019-2023. (Graphic: Business Wire)

Growing competition in the automotive industry is prompting vehicle manufacturers to introduce adjustable steering systems in both entry-level and mid-segment vehicles. This has created a demand for advanced adjustable steering systems in luxury vehicles, which led to the development of memory sensing adjustable steering columns. Memory sensing adjustable steering columns enable the driver to adjust the steering column position with the touch of a button. Such technological advancements coupled with the increasing adoption of adjustable steering system in entry-level and mid-segment vehicles is expected to drive the growth of the market during the forecast period.

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As per Technavio, the increasing popularity of steering column as an advanced safety system will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Automotive Adjustable Steering System Market: Increasing Popularity of Steering Column as an Advanced Safety System

Steering columns are increasingly becoming popular due to the safety offered by them during collision. Vehicle manufacturers are introducing telescopic type steering columns that collapse during a frontal collision and allows the driver to move further inside the car. This improves the forces imposed on the driver through other safety systems such as airbags and seatbelts and protects the driver from hitting the steering wheel. Such developments in steering columns are expected to positively influence the growth of the global automotive adjustable steering system during the forecast period.

“Apart from the increasing popularity of steering column as an advanced safety system, development of autonomous vehicles without steering wheels and the development of retractable steering wheel are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.

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Global Automotive Adjustable Steering System Market: Segmentation Analysis

This market report segments the global automotive adjustable steering system market by type (manually adjustable steering and electrically adjustable steering) and geography (APAC, Europe, MEA, North America, and South America).

The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the increasing purchasing power of consumers and growing competition in the automotive industry.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:[email protected]




SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 10/25/2019 11:00 AM/DISC: 10/25/2019 11:01 AM

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