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Expansion of Automotive Industry Helps Commercial Vehicle Steering Column Market to Exceed US$ 1 Bn by 2032, TMR Study

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Rise in demand for different types of vehicles from across the globe is projected to create promising revenue gain prospects in the global commercial vehicle steering column market. Hence, the market is projected to register growth at a CAGR of 4.5% during the forecast period from 2021 to 2032, according the research report by Transparency Market Research (TMR).

Major companies operating in logistics and transportation industries are inclining toward the use of vehicles that offer next-gen and cost-effective solutions, which can help enterprises to increase their efficiency, thereby boosting their revenues. As a result, many automakers globally are using power steering systems in their vehicles, states TMR report on the global commercial vehicle steering column market. Hence, the expansion of logistics and transportation industries is prognosticated to create substantial business prospects in the market.

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The commercial vehicle steering column market is estimated to gain profitable avenues in Asia Pacific due to many factors, including presence of several emerging economies and increase in the production & sales of commercial vehicles in countries. Moreover, the regional market is expected to be driven by increase in the number of R&D projects, which are focused on the development of technologically advanced steering column systems. Furthermore, rapid expansion of construction industry and increase in industrialization in many regional nations are fueling the demand for commercial vehicles, which, in turn, is creating lucrative opportunities in the Asia Pacific commercial vehicle steering column market.

Commercial Vehicle Steering Column Market: Key Findings

·  Increase in industrialization has resulted in rise in the need of transportation of different products manufactured by varied industrial sectors, including steel, energy, food & beverage, and construction materials. Hence, the demand for heavy commercial vehicles has been increased tremendously in the past few years. Thus, rise in sales of such vehicles is propelling the global commercial vehicle steering column market.

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  • Players in the commercial vehicle steering column market are increasing focus on incorporating next-gen technologies in their products in order to stay competitive. For instance, several enterprises are offering electro-hydraulic steering systems that provide speed-dependent steering support together with active reverse abilities. These systems are gaining immense popularity, owing to their ability to allow automated driving functions, notes a TMR report on the global commercial vehicle steering column market.
  • Vehicles with custom commercial steering columns are being increasingly adopted across countries with extreme temperature conditions, owing to striking designs and minimum maintenance requirements of custom commercial steering columns. Hence, rise in demand for such advanced vehicles across many countries with hot climates (such as Australia & Middle East) and nations with sub-zero temperatures (including Canada) is estimated to propel the commercial vehicle steering column market.

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Commercial Vehicle Steering Column Market: Growth Boosters

  • Increase in sales of commercial vehicles due to rising transportation and logistics activities is bolstering the global market
  • Surge in demand for heavy load carrying capacity trucks for construction and mining activities is estimated to propel the global commercial vehicle steering column market

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Commercial Vehicle Steering Column Market: Key Players                

Some of the key players profiled in the report are:

  • Continental AG
  • Bosch Germany
  • C.O.B.O International
  • Denso Corporation
  • Italy
  • Delphi Automotive PLC
  • HELLA GmbH & Co. KGaA
  • Knorr-Bremse AG
  • NSK
  • ThyssenKrupp
  • JTEKET Corporation
  • TRW Automotive

Commercial Vehicle Steering Column Market Segmentation

Column Type          

  • Adjustable Steering Columns
  • Non-adjustable Steering Columns

Vehicle Type           

  • Class 6 (GVWR – 19,501 to 26,000 pounds)
  • Class 7 (GVWR – 26,001 to 33,000 pounds)
  • Class 8 (GVWR – Above 33,000 pounds)

Sales Channel         

  • OEM
  • OES
  • Aftermarket
  • Steering System
  • Manual Worm & Roller Steering System
    • Power Steering System
  • Manual Recirculating Ball & Nut Steering System
  • Manual Rack and Pinion Steering System

Region          

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Browse Latest Automotive & Transport Industry Research Reports by TMR:

About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

For More Research Insights on Leading Industries, Visit our YouTube channel – https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

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Transparency Market Research
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SOURCE Transparency Market Research

Wladimir P. is a Content Editor at European Gaming Media and at PICANTE Media and covers a large variety of industries.

Artificial Intelligence

EZVIZ unveils its groundbreaking H9c Dual-lens Smart Pan-and-tilt Camera series: a new paradigm for automated, all-round outdoor protection

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By combining a pan-and-tilt panoramic lens and a fixed 180-degree wide-angle lens, one H9c Dual smartly secures large areas with performance better than that of two ordinary ones.
HOOFDDORP, Netherlands, May 6, 2024 /PRNewswire/ — EZVIZ, a leading global player in innovative smart home security, proudly introduces the H9c Dual series, its latest dual-lens outdoor pan-and-tilt cameras that redefine smart protection for homes and small businesses. With options in 2K and 3K resolutions, their groundbreaking design combines a sharp bullet camera and a flexible PT camera, addressing complex security needs effectively. The interlinked dual lenses work collaboratively to safeguard wide property areas, detect and track activities, and offer auto-patrol options for hands-free security.

“The H9c Dual challenges traditional outdoor cameras with unrivaled vision, unmatched automation, and high versatility for basically any scenario,” said Candice Tu, the lead product manager, “EZVIZ leads the way in the development and application of advanced dual-lens technology. This underlines our dedication to bringing cutting-edge technology within reach for practical, everyday situations.”
At the core of the H9c Dual is its groundbreaking dual-lens technology, highlighted by EZVIZ’s distinctive co-action function. The two lenses can work independently at two static viewing angles or act together as a team. When the fixed lens detects motions, the pan-and-tilt lens automatically rotates to track the same activity. This co-action function can also be manually controlled through the EZVIZ App.
The series addresses unnoticed blind spots by offering a 180-degree comprehensive view in a single frame, supplemented by the bottom PT lens for intricate close-ups. Both lenses, with high resolutions of 2K/3K, use built-in AI chips to detect people and vehicles in customizable zones, ensuring users are informed of crucial activities. Users can set up to four patrol spots for the PT lens to complete automatic rotations on a schedule.
Equipped with powerful LEDs, the H9c Dual provides color night vision up to 40 meters and warns potential trespassers with a loud siren and dazzling flashlight upon detection. Offering superior protection compared to a traditional two-camera system, the H9c is a breeze to set up thanks to its adaptable mounting design. Users can manage and control their H9c through the user-friendly EZVIZ App, and enjoy seamless integration with prevailing voice assistants and the larger EZVIZ ecosystem.
Learn more at www.ezviz.com.
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Artificial Intelligence

Red light therapy for repairing spinal cord injury passes milestone

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BIRMINGHAM, England, May 6, 2024 /PRNewswire/ — Patients with spinal cord injury (SCI) could benefit from future treatment to repair nerve connections using red and near-infrared light.

The method, invented by University of Birmingham scientists and patented by University of Birmingham Enterprise, delivers light directly to the site of the injury. 
Their latest research, published in Bioengineering and Translational Medicine, determined an optimal ‘dose’ for this novel approach, and showed it can deliver therapeutic improvements including significant restoration of sensation and movement, and regeneration of damaged nerve cells. 
Researchers led by Professor Zubair Ahmed used cell models of SCI to determine the frequency and duration of light required to achieve maximum restoration of function and stimulate nerve cell regrowth. 
They found delivery at a wavelength of 660nm for one minute a day increased cell viability (the number of live cells) by 45% over five days’ treatment. 
Professor Ahmed said: “The effect of 660nm light was both neuroprotective, meaning it improved survival of nerve cells, and neuroregenerative, meaning it stimulated nerve cell growth.” 
The researchers also investigated the effect of light therapy in preclinical models of SCI, using an implantable device and transcutaneous delivery with the light source placed against the skin. They showed comparable results for both methods, with a one-minute dose of 660nm light, delivered daily for seven days resulting in reduced tissue scarring, increased levels of proteins associated with nerve cell regeneration, improvements in the connections between cells and significant functional recovery. 
This is the first time transcutaneous and direct light delivery have been compared in SCI. Professor Ahmed said: “To make light therapy viable for treating SCI in humans an implantable device will be required, to provide line of sight to damaged tissue and the opportunity for greater accuracy and standardise dosing without impedance due to the thickness of the skin and other tissues surrounding the spinal cord.”
The researchers are planning to develop an implantable device for use in humans with traumatic SCI. They have already received further funding and are seeking commercial partners or investors to develop a prototype device to take into first-in-man clinical trials.
Full release here. 
University of Birmingham Enterprise helps researchers turn ideas into products and services that meet real-world needs. Follow us on LinkedIn and X.
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Media enquiries: Ruth Ashton
Commercial enquiries: Veemal Bhowruth

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Artificial Intelligence

TerraPay Continues to Attract Top Industry Talent, Names Hassan Chatila as Vice President and Global Head of Network

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LONDON, May 6, 2024 /PRNewswire/ — TerraPay, a leading global money movement company, is excited to announce the appointment of Hassan Chatila as Vice President – Global Head of Network.

This key addition to TerraPay’s global network leadership also marks a critical step in the company’s ongoing strategy to simplify and streamline global money movement for businesses and individuals alike, underscoring its commitment to enhancing its network capabilities.
With over 20 years of experience in the cross-border payments, Hassan brings with him a rich legacy of leadership and innovation. Before joining TerraPay, he served as the Global Head of Western Union’s Account Payout Network, where he played a pivotal role in expanding and optimizing the network to support seamless global transactions. His impressive career portfolio also includes key leadership roles at Earthport and Temenos, where he led significant payments transformation initiatives and drove substantial growth.
In this new role at TerraPay, Hassan will lead the expansion and optimization of TerraPay’s global payout network. He will work closely with internal and external stakeholders to enhance the network’s capabilities, ensuring that TerraPay continues to offer its partners transparent and efficient payment solutions.
Welcoming Hassan to the team, TerraPay Founder and CEO, Ambar Sur, said, “It gives me great pleasure to welcome Hassan on board. As an industry expert, he comes with a highly reputable cross-border payment expertise and deep leadership experience. On TerraPay’s journey of growth, Hassan’s appointment is a critical step in furthering our network expansion goals. I look forward to working together and further deepen TerraPay’s position as a global money movement leader.”
Hassan Chatila, VP – Global Head of Network, TerraPay, commented on his new role, saying, “I am thrilled to join TerraPay at this pivotal time. Over the years, TerraPay has built an expansive global money movement network driven by the mission to build a borderless world of payments. I look forward to leveraging my experience to further develop our network capabilities, create new opportunities across markets and help TerraPay achieve its ambitious goals.”
For media inquiries, please contact [email protected]
About TerraPay
TerraPay simplifies global money movement – by providing a single connection to the most expansive cross-border payments network regulated in 31 global markets and enabling payments to 144 receive countries, 210+ send countries, 7.5Bn+ bank accounts and 2.1Bn+ mobile wallets. TerraPay is on a mission to connect a borderless financial world, making moving money everywhere instant, reliable, transparent and fully compliant. TerraPay pushes the boundaries for global businesses – ranging from banks, fintechs and money-transfer operators to travel businesses, creator economy platforms and e-commerce marketplaces – while driving financial inclusion in even the most inaccessible markets. Founded in 2014, TerraPay is headquartered in London, with global offices in Bangalore, Dubai, Miami, Bogota, Dar es Salaam, Kampala, Hague, Dakar, Joburg, Nairobi, Milan, Singapore and is expanding rapidly, having received funding from leading investors, including the IFC (the World Bank), Prime Ventures, Partech Africa and Visa.
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