New York, NY, March 15, 2016 --(PR.com
)-- “Automotive Steering Roll Connectors Market” is a new report recently published by Beige Market intelligence with a worldwide coverage as well as a segmentation by end market (OEM, after market) by vehicle type (passenger cars, light commercial vehicles, heavy commercial vehicles) and by geography (APAC, Europe, Latin America, Middle East and Africa, and North America). The market research report provides growth trends, analysis and forecasts for the period 2016 – 2021 and predicts the market to ship more than 110 million units of automotive steering roll connectors by 2021.
The adoption of infotainment systems across all categories of vehicles is something that is expected to be a key driver for the Automotive Steering Roll Connector market. Almost all models of vehicles today are offering an infotainment system as a standard equipment with the vehicle. The basic functionalities that would be included in an infotainment system include a radio and an auxiliary player. The controls to manage these features would be present on a steering wheel thereby necessitating the need for an automotive steering roll connector.
North America to contribute to more than 30 percent of the Automotive Steering Roll Connector Market in 2021
As is the case across the globe, North America too has been seeing a rise in the number of vehicles that are adopting infotainment systems. These infotainment systems play a major role for the demand of automotive steering roll connectors since the infotainment systems require controls to be present on the steering wheel. Something unique to North America however is the penetration of hybrid and electric vehicles. North America will become one of the largest markets for hybrid vehicles and electric vehicles. As the number of electric and hybrid powertrain based vehicles increases, the demand for advanced electronics is expected to grow. It is observed that most advanced safety and convenience features come as a standard fitment among hybrid and electric vehicles, which indicates the use of more number steering mounted controls in such vehicles leading to increasing importance of SRC among such vehicles. North America is expected to contribute to more than 30 percent of the Automotive Steering Roll Connector market by 2021.
Automotive Steering Roll Connectors will be used primarily by passenger cars in 2021
Passenger cars in comparison to light commercial vehicles and heavy commercial vehicles are produced more in number and also have a higher penetration rate in terms of infotainment systems that are present in these vehicles. Almost all models have some infotainment system today which necessitates the need for an automotive steering roll connector. By 2020, almost all vehicles will require a steering roll connector especially with the onset of connected cars in the market. More than 75 percent of those vehicles with an automotive steering connector will be a passenger vehicle by 2021.
Automotive Steering Roll Connector Market in the aftermarket segment to grow at a CAGR of 10.13 percent during 2015-2021
The automotive aftermarket is witnessing a structural shift with changes in the entire value chain especially when in the past, the aftermarket largely revolved around component suppliers in the secondary market and body or service shops. However, the industry is witnessing a new channel to the market which is e-commerce. An increasing number of the customer base is shifting to online purchase of replacement components and a new trend of “DIY” is emerging where customers are conducting basic repairs or replacement themselves rather going to body shops. This trend is evident, as various OEMs are increasing their interest in online retailers. For instance, Michelin in 2015 acquired French online retailer Allopneus and UK based Blackcircles to increase its presence in e-commerce tire market.
Competition among Vendors
Companies mentioned in the report are as follows; Angotan, Buick, Cherry Motors, Chrysler Motors, Daesung, Daihatsu Motors, Daimler, General Motors, Great Wall Motors, Holden, Honda Motors., Hyundai Motors, Hyundai Motors, JAC Motors, KIA Motors, Lear Corporation, Leoni, Mando, Mazda Motors, Minda Corp., Mitsubishi, Nissan Motors, Nissan Motors, Proton, Renault, TATA Motors, Toyota Motors, TRW Automotive, Tyco Electronics, Volkswagen and Yazaki.
To know more about Automotive Steering Roll Connectors market research report, please visit http://www.beigemarketintelligence.com/reports/research-report-automotive-and-transportation-market/steering-roll-connectors/
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