Steering Column Cowls Market Insights
Steering column cowls are the key part of the steering columns which is intended for connecting the steering wheel to the steering mechanism. Steering column cowls possess various advantages which include passive safety systems, mass reduction, absorbs crash impact energy, insert mould for added strength, etc. There are 2 types of steering column cowls available in the market which include upper steering column cowls and lower steering column cowls.
Introduction of collapsible steering columns in order to reduce the injuries caused by impact on the driver’s body in case of collision while driving is one of the key factor to assist the demand for steering column cowls over the next decade. Growth of the steering column cowls market depends primarily on the steering column market demand across the globe.
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Global Steering Column Cowls Market: Dynamics
Demand for the steering column cowl is primarily related to the growth in the production as well as sales of the vehicles across the globe. Steering column cowls are primarily utilized to provide the convenience as well as provide the safety to the steering column. The aforementioned reasons are found to be the key factor pushing the growth of global steering column cowls market over the near future. Steering column cowl sales will find through OEM installation in a profound extent followed by the aftermarket.
One of the major restraining factor for steering column cowls is that if they are damaged due to accident or other reasons, the whole steering column needs to be replaced as a unit. Moreover, introduction of stringent regulations pertaining to the steering columns are expected to affect the growth of the global steering column cowls market in the near future. For instance, in U.S., steering columns are governed by several federal requirements, Chinese directive obligates manufacturers to incorporated anti-theft mechanism in their vehicles, European Union Commission directives mandates that vehicle must be fitted with anti-theft devices, etc.
Key manufacturers involved in the global steering column cowls are focussing on expanding their steering portfolio in order to provide the wide range of products to the large customer base across the globe.
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Global Steering Column Cowls Market: Regional Outlook
Based on the regions, Asia-Pacific led by China is expected to dominate the global steering column cowls market, owing to the growth in the demand of passenger cars as well as commercial vehicles supported by ever-increasing population. Asia-pacific is anticipated to be followed by North America in the global steering column cowls market, as the U.S. is one of the prominent market for the vehicles after China. North America is anticipated to be followed by Europe and other regions in the global steering columns market over the forecast period. Middle East & Africa is expected to witness low to moderate growth in the global steering column cowls market. Latin America in the global steering column cowls market is anticipated to grow at slow rate over the next decade.
Global Steering Column Cowls Market: Market Participants
Some of the key players involved in the global Steering Column Cowls market include SC Parts Group Ltd., DS Smith, Moss Motors, Ltd., Brown and Gammons, ALLON WHITE SPORTS CARS, Jaguar Land Rover, TVR PARTS LTD., and others.
The global steering column cowls market is anticipated to one of the most consolidated in nature as there are small number of players involved in the manufacturing of the product across the globe. Few global players are anticipated to hold significant share in the global steering column cowls market.
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