Global Automotive Power Tilt And Telescopic Steering Column Market, Global Automotive Power Tilt And Telescopic Steering Column Market Report, Global Automotive Power Tilt And Telescopic Steering Column Market Trends, Global Automotive Power Tilt And Telescopic Steering Column Market Size
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What Is The Predicted Market Size Of The Automotive Power Tilt And Telescopic Steering Column Industry By 2029?
The market size of the automotive power tilt and telescopic steering column has experienced significant growth in recent times. It is projected to increase from $3.92 billion in 2024 to $4.24 billion in 2025, with a compound annual growth rate (CAGR) of 8.1%. The market’s expansion during the historical period is influenced by factors such as the heightened interest in vehicle personalization, the rise in demand for driver assistance systems, emphasis on ergonomics, growing consciousness about health and wellness, and wider acceptance of smart vehicles.
Predictions suggest a robust expansion of the automotive power tilt and telescopic steering column market in the upcoming years, with an expected valuation of $5.74 billion by 2029, reflecting a compound annual growth rate (CAGR) of 7.9%. This upswing over the forecast period can be ascribed to factors such as the escalating demand for comfortable vehicles, heightened consumer inclination for luxury features, the surge in electric vehicle adoption, increasing driver safety awareness, and evolving expectations for autonomous vehicles. During this period, major trends will encompass enhancements in steering technologies, adoption of electric power steering, advancements in driver assistance systems, technological strides in electric vehicle (EV) infrastructure, and breakthroughs in autonomous driving technologies.
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Which Growth Drivers Are Shaping The Automotive Power Tilt And Telescopic Steering Column Market Outlook?
The progression of electric and self-driving cars is anticipated to catalyze the expansion of the auto power tilt and telescopic steering column market. Electric and autonomous vehicles (EAVs) are those that utilize electric propulsion and comprise self-driving systems to function without human supervision. Their increased adoption has been catalyzed by the quest for environmental conservation, as they lower carbon emissions, diminish air pollution, and lessen dependence on fossil fuels. The auto power tilt and telescopic steering column augments EAVs by providing adjustable comfort and smooth integration with autonomous systems for enhanced manual control when required. For instance, as per the Energy Information Administration, a US governmental agency, in December 2024, the cumulative market share of hybrid, plug-in hybrid electric, and battery electric vehicles (BEVs) in the entire new light-duty vehicle (LDV) sales in the United States escalated from 19.1% in the second quarter of 2024 to 21.2% in the third quarter of 2024. Hence, the upsurge in electric and autonomous vehicles propels the growth of the automotive power tilt and telescopic steering column market.
How Is The Global Automotive Power Tilt And Telescopic Steering Column Market Broken Down By Segment?
The automotive power tilt and telescopic steering column market covered in this report is segmented –
1) By Product: Power Tilt Steering Column, Power Telescopic Steering Column, Combination (Tilt And Telescopic)
2) By Technology: Electric Power Steering (EPS), Hydraulic Power Steering (HPS), Manual Steering
3) By Vehicle: Passenger Cars, Commercial Vehicles
4) By Sales Channel: Original Equipment Manufacturer, Aftermarket
Subsegments:
1) By Power Tilt Steering Column: Manual Adjustment Tilt Mechanism, Memory Function Tilt Steering, Electric Motor-Driven Tilt Mechanism
2) By Power Telescopic Steering Column: Manual Adjustment Telescopic Mechanism, Memory Function Telescopic Steering, Electric Motor-Driven Telescopic Mechanism
3) By Combination (Tilt and Telescopic) Steering Column: Manual Tilt And Telescopic Combination, Memory Function Tilt And Telescopic Combination, Electric Tilt And Telescopic Combination
Which Trends Are Likely To Redefine Growth Paths In The Automotive Power Tilt And Telescopic Steering Column Market?
Leading businesses in the automotive power tilt and telescopic steering column market are prioritizing the creation of novel solutions such as state-of-the-art adjustable steering systems to accommodate the growing need for advanced driver-assistance technologies. This advanced adjustable steering system is a mechanism that allows accurate electronic control of tilt and telescopic positions, improving driver comfort, safety and compatibility with cutting-edge vehicle technologies. For example, the CORAM Group, an Italian firm renowned for the design and production of steering columns, launched the TITAN steering column in May 2024, marking it as a significant breakthrough for bus and coach driving. This unique tilt and telescopic steering column, specifically built for buses and coaches, provides increased comfort and safety for drivers via its pneumatic locking system. This advanced facility empowers drivers to effortlessly modify the tilt and telescopic position of the steering wheel without removing their hands from the wheel, guaranteeing superior ergonomics and lowering fatigue during extended drives.
Who Are The Primary Market Leaders In The Automotive Power Tilt And Telescopic Steering Column Market?
Major companies operating in the automotive power tilt and telescopic steering column market are Toyota Motor Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG, Thyssenkrupp AG, Hyundai Mobis Co. Ltd., Aisin Seiki Co. Ltd., Schaeffler AG, JTEKT Corporation, NSK Ltd., Mando Corporation, Nexteer Automotive Corporation, Kongsberg Automotive, Rane Group, CORAM Group, Delphi Technologies plc, Pailton Engineering Ltd., ONUR Hidromekanik Ltd., Ididit LLC, Flaming River Industries Inc., Sayam Auto Group Co. Ltd., Zhejiang Shibao Co. Ltd.
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Which Regional Markets Are Emerging As Key Hubs For The Automotive Power Tilt And Telescopic Steering Column Market?
Asia-Pacific was the largest region in the automotive power tilt and telescopic steering column market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive power tilt and telescopic steering column market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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