Electrical Steering Column Lock Market Global Industry Trends | Growth Dynamics To 2024

Due to the robust progress of the automotive sector in countries such as China, India and Indonesia, APAC electrical steering column lock market is expected to witness a substantial growth rate over 2017-2024. China alone, in 2016, accounted for 48% of the global SUV shares. In fact, estimates claim Asia Pacific to dominate the overall electrical steering column lock industry by 2024, with a revenue projection of USD 13 billion.

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Electrical steering column lock market has been witnessing a profitable growth rate since the last few years, pertaining to the growing popularity of the electric power steering (EPS). The EPS technology is lately being preferred in automobiles for its ease of use and the fuel efficiency. Also, there has been a paradigm shift in the deployment of automotive components from mechanical to electronic solutions, which has led to electrical steering column lock (ESCL) market carving out a positive growth trajectory

With the emergence of new economies and the rising affordability of vehicles, global automobile manufacturing and sales are expected to soar higher in the years to come. This in consequence, would lead to a robust rise in the sales of automobile integrated with security features, which in turn would impel ESCL market. With security being one of the consumers’ principal concerns, cars incorporated with anti-theft features will make them highly viable choice, which will boost the overall electrical steering column lock market size.

Original equipment manufacturers (OEMs) and traditional automotive players, in recent times, are under continuous pressure to bring about advanced technologies in vehicles that will improve fuel efficiency, reduce emissions and be more capital-efficient. OEMs stand to gain the most advantage with the growth of electrical steering column lock industry, as customers prefer relying on OEMs for their process expertise and reliability. On the other hand, aging vehicles will impact electrical steering column lock market size from the aftermarket domain, as these vehicles are the ones that did not have an installed lock at the time of manufacture, but would now be forced to have one installed or security purposes.

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Some Point from Table of Contents:

Chapter 4.   Electrical Steering Column Lock Market, By Vehicle

4.1. Global electrical steering column lock industry share by vehicle, 2016 & 2024

4.2. PCV

4.2.1. Market estimates and forecast, 2013-2024

4.2.2. Market estimates and forecast, by region, 2013-2024

4.3. LCV

4.3.1. Market estimates and forecast, 2013-2024

4.3.2. Market estimates and forecast, by region, 2013-2024

4.4. HCV

4.4.1. Market estimates and forecast, 2013-2024

4.4.2. Market estimates and forecast, by region, 2013-2024

4.5. Special utility vehicles

4.5.1. Market estimates and forecast, 2013-2024

4.5.2. Market estimates and forecast, by region, 2013-2024

4.6. Motorcycles

4.6.1. Market estimates and forecast, 2013-2024

4.6.2. Market estimates and forecast, by region, 2013-2024

Chapter 5.Electrical Steering Column Lock Market, By Distribution channel

5.1. Global electrical steering column lock industry share by distribution channel, 2016 & 2024

5.2. OEM

5.2.1. Market estimates and forecast, 2013-2024

5.2.2. Market estimates and forecast, by region, 2013-2024

5.3. Aftermarket

5.3.1. Market estimates and forecast, 2013-2024

5.3.2. Market estimates and forecast, by region, 2013-2024

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