The global automotive collapsible steering column market to grow at a CAGR of 2.45% during the period 2017-2021.
The report, Global Automotive Collapsible Steering Column Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
The latest trend gaining momentum in the market is development of foldable steering wheel concept. The collapsible steering column was developed to protect the driver from fatality during a frontal collision. The collapse (telescopic) of the steering column in the event of impact allows the driver to safeguard from his/her head hitting the steering column. A similar concept is designed by ZF-TRW for the steering wheel (called collapsing steering wheel), which retracts entirely into the dashboard.
According to the report, one of the major drivers for this market is growing concern for controlling front collision is pushing demand for collapsible steering column. Vehicle accidents are increasing owing to the rising number of vehicles on the road, and a front collision occurs more frequently than the other types of collisions. In addition, the driver is more vulnerable in a frontal collision. Hence, automakers focus on such collisions for a safety perspective. Front collision involves a vehicle hitting another moving or stationary vehicle or object.