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Strategic Assessment of Worldwide Automotive Steering Roll Connectors Market guidelines - research and analysis illuminated by new report 2021

Press Release   •   Jan 25, 2017 11:44 EST

Automotive Steering Roll Connectors Market – Report Insights

A connector is a device that carries electricity or electronic signals and connects the internal controls of a machine to the I/O part of an electronic or electrical device. They form a medium of communication among different components and systems by connecting electric circuits with each other. Connectors are widely used in automotive industry. Among various connectors, steering roll connectors (SRC) also known as clock spring is one of the commonly used connector in the automotive industry. Steering roll connectors are placed on the steering column just below the steering wheel of the vehicle. They are a rotatable connectors which electrically connects the steering wheel-mounted electric controls with the vehicle body, which transmits signals and supplies power from the vehicle body to the components mounted on the steering wheel.

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Worldwide Automotive Steering Roll Connectors research report covers the present scenario and the growth prospects of the Automotive Steering Roll Connectors Market for the period 2015-2021. This market research report includes a detailed market segmentation of the Automotive Steering Roll Connectors by

By End-market Type

  • OEM (Original Equipment Manufacturers)
  • Aftermarket
  • By Vehicle Type
  • Passenger Cars
  • Heavy Commercial Vehicles
  • Light Commercial Vehicles
  • By Geographic Region
  • North America
  • APAC
  • Europe
  • Latin America
  • Middle East

The market research report also profiles the key vendors operating in the Worldwide Automotive Steering Roll Connectors Market and also provides the detailed competitive landscape of key players.

Automotive Steering Roll Connectors – Market Size and Dynamics

Market research analysts at Beige Market Intelligence, expect the Worldwide Automotive Steering Roll Connectors Market to reach approximately 130 million units by 2021. The Worldwide Automotive Steering Roll Connectors market has been segmented on the basis of End-markets, Vehicle type, and geographical regions. Among End-markets, the global aftermarket for steering roll connectors is expected to reach to around 17 million units by 2021 growing at a CAGR of almost 10% during the forecast period.

The automotive steering roll connectors market is further segmented as per vehicle types which include passenger cars, light commercial vehicle, and heavy commercial vehicle. Among the vehicle types, passenger cars are the largest volume and value market for automotive. As passenger cars form the fundamental for personal transportation, this segment will remain the largest automobile segment during the forecast period. The steering roll connector’s passenger car segment is expected to cross 100 million units by 2021.

The global OEM market for steering roll connectors for passenger cars accounted for over 57 million units in 2015 and is expected to reach to over 86 million by 2020 growing at a CAGR of almost 7% during the forecast period. Asia is the largest automotive steering roll connectors market and is expected to be the largest during the forecast period due to the high volume of automobile shipments and rapid adoption of airbags.

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Automotive Steering Roll Connectors – Drivers and Trends

This market research report provides market overview of the factors driving and restraining the growth of the market. The report also outlines the key trends emerging in the market that will contribute to the growth of Worldwide Automotive Steering Roll Connectors market during the forecast period. The factors driving the growth of the market include Adoption of infotainment systems in high volume mid segment vehicles. Features such as connected vehicles using telematics and high-end infotainment systems were a feature common to luxury or high-end vehicles until the recent past. However, the stiff competition in the mid-segment vehicles has forced OEMs to introduce these features in mass mid-segment vehicles such as hatchbacks and light commercial vehicles which include pick-up trucks. In the past couple of years, various OEMs and electronics suppliers in the automotive industry have actively invested in exploring means of cost reduction of these systems enabling them to be integrated to smaller cars and commercial vehicles.

Leading to increasing steering mounted electronic controls for various infotainment functions such as audio controls. This will drive the steering roll connector’s demand among vehicles as these controls are connected to the electronic junction box through steering roll connectors. Moreover, emerging markets are expected to drive automotive sales, which in turn will drive the growth of automotive steering roll connectors.

Some of the major challenges confronting the Worldwide Automotive Steering Roll Connectors Market include gradual loss of low-cost advantage from Low-cost manufacturing countries. In earlier decades, within the automotive industry, there was an increase in outsourcing of manufacturing activities to low-cost countries such as China, Taiwan, South Korea and India owing to the availability of low-cost labor as compared to western countries. However, these countries are gradually losing its cost advantage due to the raising labor cost, for instance in China the population has become more affluent and has moved up the learning curve leading to higher cost of employment.

It is observed that manufacturers, especially in China and Taiwan have been facing concerns over attrition as labors prefer moving to other manufacturers for small income raise. Moreover, the shorter lifecycle of automotive electronics is another major challenge faced by the market. The report also provides the Porter’s five forces analysis along with a description of each of the forces and its impact on the market.

Automotive Steering Roll – Key Vendors

This market research report profiles the major companies in the Worldwide Automotive Steering Roll Connectors market and also provides the competitive landscape of key players. Within the report covers the entire market outlook regarding the value chain operating within the market. The major players in the market include Furukawa, Daesung, Engotan, and Kapco. Minda Corp. (in joint venture with Furukawa) is one of the emerging player in the market.

Some of the companies mentioned in the report include Yazaki, Angotan, Mazda Motors, Mitsubishi, Nissan Motors, Toyota Motors, Cherry Motors, Hyundai Motors, Buick, Proton, KIA Motors, Nissan Motors, Chrysler Motors, General Motors, Mando, Volkswagen, TATA Motors, TRW Automotive, Holden, Renault, Lear Corporation, Tyco Electronics, JAC Motors, Leoni, Great Wall Motors, Daimler, Toyota Motors, Daihatsu Motors, and Honda Motors.

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