Global Electrical Steering Column Lock Market
Electrical Steering Column Lock Market Size And Forecast
According to Verified Market Research, The Global Electrical Steering Column Lock Market was valued at USD 23.02 billion in 2019 and is projected to reach USD 40.52 billion by 2027, growing at a CAGR of 7.9% from 2020 to 2027.
Electrical Steering Column Lock Market Outlook
High demand for electric power steering (EPS) vehicles across the globe will primarily boost the adoption of electrical steering column lock market share from 2017 to 2024. Growing demand for EPS can be attributed to its benefits such as considerable fuel savings and quick response. Various government bodies have imposed certain regulations to mandate EPS adoption, instigating immense growth potential to the industry.
Electrical Steering Column Lock Market By Competitive Landscape:
Some of the major players involved in the Global Electrical Steering Column Lock Market are Continental, Nexteer Automotive, Robert Bosch GmbH, ZF Friedrichshafen AG, NSK Ltd., Nissan, U-Shin Ltd, Johnson Electric, Valeo SA, Huf Hülsbeck & Fürst GmbH & Co. KG and Minda Vast Access Systems Private Limited.
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