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(I-AutoNewsWire.com, August 09, 2018 ) Market Overview:-
Electrical Steering Column Lock Market is expected to cross 180 million units by 2024. Rising adoption of electronic units in the vehicles has led the demand for electrically operated locking devices. High demand for advanced products is fueling the industry over the projected time span.
In global electrical steering column lock market, light commercial vehicles will pose a CAGR of over 6% in the forecast time frame. Newly developed vehicles are equipped with advanced units for the driver’s comfort, thus accelerating product adoption rate. In Europe, it is predicted that half of the trucks functioning on the road will be equipped with advanced locks by 2024.
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Top Key Players:- The key players of global Electrical Steering Column Lock Market are Nexteer Automotive, Nissan, ZF Friedrichshafen AG, Valeo, Minda VAST Access Systems Pvt. Ltd., U-Shin Ltd., and Huf Hülsbeck & Fürst.
Regional Segmentations:-
Asia Pacific electrical steering column lock is projected to be dominant till 2024 which can be credited to increased vehicle manufacturing across the region. China witnesses increasing SUV sector and is likely to be one out of every two cars sold over the predicted time span thereby contributing in regional revenue generation. Rising automobile production coupled with high domestic demand will improve the country’s share over the study period.
European directives aim to build uniform provisions for layout and performance of automobile units. These regulations ensure automobile security and is anticipated to expand the electrical steering column lock market share over the forecast timeframe.
North America was worth USD 4 billion in 2016 and will register gains approximately at 6.5% by 2024 due to its matured automobile industry. Further, presence of well-established industry participants in the region will influence the regional business demand over the projected period.
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Major Points of Table Of Content:-
Chapter 1. Methodology and Scope
1.1. Methodology 1.1.1. Initial data exploration 1.1.2. Statistical model and forecast 1.1.3. Industry insights and validation 1.1.4. Scope, definition and forecast parameters 1.2. Data Sources 1.2.1. Primary 1.2.2. Secondary
Chapter 2. Executive Summary
2.1. Electrical steering column lock industry 3600 synopsis, 2013 - 2024 2.1.1. Business trends 2.1.2. Vehicle trends 2.1.3. Distribution channel trends 2.1.4. Regional trends
Chapter 3. Electrical Steering Column Lock Industry Insights
3.1. Industry segmentation 3.2. Industry landscape, 2013 - 2024 3.3. Industry ecosystem analysis 3.3.1. Suppliers 3.3.2. Manufacturers 3.3.3. Profit margin analysis 3.3.4. Customers 3.3.5. Distribution channel analysis 3.3.5.1. OEM 3.3.5.2. Aftermarket 3.4. Pricing analysis 3.4.1. By region 3.4.1.1. NA 3.4.1.2. Europe 3.4.1.3. APAC 3.4.1.4. LATAM 3.4.1.5. MEA 3.5. Cost structure analysis 3.6. Technology landscape 3.7. Regulatory landscape 3.7.1. U.S. 3.7.2. EU 3.7.3. China 3.8. Industry impact forces 3.8.1. Growth drivers 3.8.1.1. North America 3.8.1.2. Europe 3.8.1.3. Asia Pacific 3.8.1.4. LATAM 3.8.1.5. MEA 3.8.2. Industry pitfalls & challenges 3.9. Innovation & sustainability 3.10. Growth potential analysis 3.11. Porter's analysis 3.12. Competitive landscape, 2016 3.12.1. Company market share 3.12.2. Strategy dashboard 3.13. PESTEL analysis
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Industry participants may observe intense competition owing to strong distribution channels, design expertise, and innovations. Players will focus on product advancements leading to efficient automobile functioning and enhanced security for catering customer demands. For instance, in March 2017, Nissan started with an initiative to replace the conventional locking units with advanced products for cost free in few of its models. This strategy supported the company to attract more customers.
High revenue gains can be credited to development in printed circuit boards and advancements in miniaturization of units that are replacing various mechanically operated auto parts. Further, product improvements are anticipated to generate substantial earnings for the industry participants.
Global Market Insights, Inc.
Arun Hegde
1-888-689-0688
sales@gminsights.com
Source: EmailWire.Com
Source: EmailWire.com
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