Steering Column Cowl Market: Global Size, Share, Trends, Growth and Forecast 2022-2032
Steering Column Cowl Market: Overview and Definition
The global steering column cowl market is expected to grow at a significant CAGR during the forecast period 2022-2032. Increasing production of vehicle has driven the growth of steering column cowl market. Steering column cowl is a device used to connect steering wheel with the steering system in a vehicle. It is located at the below of the steering wheel and helps to control the entire steering mechanism.It is the key part of the steering columns which is intended for connecting the steering wheel to the steering mechanism.The device consists of a column shroud, steering angle sensor, multifunction switch, power tilt and a trim cover. It helps in increasing the safety of the vehicle as it offers solid grip control. The steering cowl also absorbs crash impact energy, reduce mass and insert mould for more strength. There are two types of steering column cowl available in the market including upper steer column cowl and lower steel column cowl.
The steering column cowl is an essential component of the steering system of a vehicle, and it protects the steering column from damage and interference from outside elements. It is also responsible for housing the steering wheel and other controls such as the turn signal, wiper switch, and other electronics. The steering column cowl is generally made of plastic or other lightweight materials and is typically designed to fit the specific make and model of the vehicle.
The market is also influenced by the shift towards electric and hybrid vehicles, which require new design and technology for steering column cowls. Moreover, the increasing popularity of advanced driver assistance systems (ADAS) in vehicles is expected to drive the demand for steering column cowls that can accommodate the sensors and cameras required for these systems.
Steering Column Cowl Market: Key Drivers
The global steering column cowl market is driven by various factors, including:
Increasing demand for lightweight and durable materials: The automotive industry is constantly striving to reduce the weight of vehicles to improve fuel efficiency and performance. The use of lightweight and durable materials for steering column cowls is gaining popularity, and this is expected to drive the market growth.
Growing automotive industry: The global automotive industry is growing steadily, driven by increasing consumer demand for vehicles. This growth is expected to fuel the demand for steering column cowls, as they are an essential component of the steering system of a vehicle.
Rising demand for safety features: Safety is a key concern for vehicle owners, and the demand for safety features in vehicles is increasing. The steering column cowl plays an important role in protecting the steering system from damage and ensuring the safety of the driver and passengers. As a result, the demand for high-quality steering column cowls is expected to grow.
Shift towards electric and hybrid vehicles: The growing popularity of electric and hybrid vehicles is driving the demand for new designs and technologies for steering column cowls. These vehicles require different designs and materials for their steering systems, and this is expected to create new opportunities for the steering column cowl market.
Increasing popularity of advanced driver assistance systems (ADAS): The adoption of ADAS is increasing rapidly, and these systems require various sensors and cameras to function properly. The steering column cowl is an important component that needs to accommodate these sensors and cameras. As a result, the growing popularity of ADAS is expected to drive the demand for steering column cowls that can accommodate these systems.
Steering column is deployed to reduce the risk of injury caused due to collision increases the market demand the growth of the steering column cowl market. Also, the expansion of automotive industry due to increased demand of vehicles is factors driving the market growth. In addition, steering column cowl help to reduce cost, enhance vehicle quality and improve efficiency. This in turn fuels the demand of steering column wheel in the market. Moreover, various newly launched vehicles such as electric and hybrid vehicles are equipped with advance safety and security features. Furthermore, government across the globe introduced various stringent regulations for controlling carbon emission and fuel economy of the vehicles. These regulations have prompted the automotive manufacturer to adopt fuel efficient steering technologies, which is further expected to propel the growth of steering column cowl market. Now a days, consumer prefers comfortable driving of the vehicle which is achieved by installation of effective steering column cowl. This in turnsis expected to contribute towards the growth of the market.However, the major restraining factor of the steering is that if they are damaged for any reason than the whole steering column has to be replaced as a unit. On the other hand, to increase the safety of the vehicle various automotive companies are investing in R&D activities and developing various impacts absorbing steering column. These developments are expected to drive the estimated growth of the market.
Throughout the forecast period passenger car segment is dominating the steering column cowl market. Electrification of vehicle reduces the fuel consumption of passenger cars and makesthe vehicle more fuel efficient. This factor fuels the demand of steering column cowl in passenger cars.
Steering Column Cowl Market: Challenges
While the global steering column cowl market is expected to grow steadily in the coming years, there are some challenges that the market is likely to face, including:
Volatility of raw material prices: The cost of raw materials used in manufacturing steering column cowls can be volatile and may fluctuate significantly based on supply and demand factors. This can impact the profitability of manufacturers and result in higher prices for end-users.
Competition from alternative technologies: The increasing popularity of drive-by-wire technology and other alternative steering systems may pose a challenge to the steering column cowl market in the long run.
Stringent government regulations: Government regulations related to safety, emissions, and fuel efficiency may impact the design and production of steering column cowls. Compliance with these regulations can be costly and time-consuming for manufacturers.
Lack of standardization: The lack of standardization in the design and specifications of steering column cowls can create challenges for manufacturers and suppliers. It can result in high tooling and design costs and increase the time to market for new products.
Impact of COVID-19: The COVID-19 pandemic has impacted the global automotive industry and disrupted supply chains, resulting in reduced demand for automotive components including steering column cowls. The pandemic has also resulted in production and logistics disruptions, which have led to delays and increased costs for manufacturers.
Steering Column Cowl Market: Segmentation
- Upper Steering Column Cowl
- Lower Steering Column Cowl
By Sales Channel:
- Passenger Cars
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Steering Column Cowl Market: Regional Synopsis
North America is likely to be the most profitable region during the forecast period. This is due to the presence of largest automotive market such as U.S. and Canada. Also, development in automotive infrastructure and adoption of advanced technologies for vehicles fuels the growth of steering column cowls market in this region.Europe holds the second largest share of the steering column cowl market owing to the increasing adoption of fuel-efficient vehicle with an effective steering system.
Asia Pacific steering column market is expected to grow rapidly during the forecast period. This is attributed to the factors such as growing demand of vehicles due to rising disposable income and presence of developing economy such as China, India and Japan in this region. In addition, development of cost-effective steering wheel system by OEM’s and growing adoption of these technologies is also expected to boost the growth of the market in this region. India is the largest consumer of steering column cowl in this region. At present more than 30% passenger car in India are running with steering column technology.
Steering Column Cowl Market: Key Players
- DS Smith
- Moss Motors, Ltd.
- Brown and Gammons
- ALLON WHITE SPORTS CARS
- Jaguar Land Rover
- TVR PARTS LTD.
- SC Parts Group Ltd.
Steering Column Cowl Market: Recent Developments
The global steering column cowl market has seen several recent developments, including:
Adoption of new materials: There has been a trend towards the use of new lightweight and durable materials for steering column cowls, such as carbon fiber, reinforced plastics, and composites. These materials offer improved strength, stiffness, and durability, and they help to reduce the weight of the vehicle.
Focus on customization: There is an increasing demand for customizable steering column cowls that can be tailored to the needs of specific vehicles and customers. Manufacturers are responding to this trend by offering a wider range of options in terms of design, color, and materials.
Integration of advanced features: Steering column cowls are increasingly being designed to accommodate advanced features such as ADAS and drive-by-wire technology. These features require additional sensors, cameras, and other components, and manufacturers are incorporating these elements into their designs.
Growing focus on sustainability: There is a growing focus on sustainability in the automotive industry, and this is impacting the steering column cowl market. Manufacturers are developing eco-friendly materials and production processes that reduce their carbon footprint and environmental impact.
Expansion of manufacturing facilities: Several major steering column cowl manufacturers, such as Delphi Automotive and Minda Industries, have expanded their manufacturing facilities to meet the growing demand for their products. This expansion has helped to increase production capacity and improve efficiency.