Market Overview:
The global steering lock systems market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for commercial vehicles, rising safety concerns, and technological advancements. The market is segmented on the basis of type, application, and region. On the basis of type, the global steering lock systems market is segmented into T-Lock, Top Hook Lock, Baseball Lock and others. T-Lock dominates the global steering lock systems market with a share of more than 50%. This can be attributed to its easy installation and low cost as compared to other types of locks available in the market. On account of growing safety concerns among consumers across different regions globally coupled with stringent government regulations mandating their use in commercial vehicles; Top Hook Locks are witnessing high adoption rates across various regions globally which is anticipated to fuel its growth during forecast period 2018 – 2030 . On basis application , Global Steering Lock Systems Market has been classified into Heavy Commercial Vehicle (HCV), Light Commercial Vehicle (LCV) Passenger Cars Others). HCVs currently dominate Global Steering Lock Systems Market by holding more than 60% share in terms revenue generated followed by LCVs .
Product Definition:
A steering lock system is a device that is fitted to a vehicle in order to prevent it from being steered. This can be done manually or electronically. The purpose of a steering lock system is to immobilize the vehicle and make it difficult for it to be moved, in order to deter theft or damage.
T-Lock:
T-Lock, also known as torque lock or torque limiter is a device that prevents the steering wheel from being turned more than a specific angle. It's installed between the steering column and the steered wheel to stop electric motors in vehicles from turning the wheels further when there is no force applied to them. The T-lock uses two small rollers or weights connected by an elastic band which can be adjusted according to requirement.
Top Hook Lock:
Top hook lock is a mechanical device used in steering wheel locking systems. It prevents the driver from moving the steering wheel more than a certain angle, which is usually set at around 15 degrees. The top hook lock system comprises of two parts, namely the release lever and catch that forms a part of safety harness or seat belt pretensioner.
The function of this device is to protect against loss or theft of vehicle occupants during an accident or while being pursued by law enforcement officials.
Application Insights:
The heavy commercial vehicle segment held the largest share of over 60.0% in 2017. The segment is expected to witness significant growth owing to the rising demand for trucks and buses from various industries, such as construction, mining, transportation and logistics among others. Furthermore, stringent government regulations regarding road safety are anticipated to boost product demand over the forecast period.
The light commercial vehicle application segment is expected to expand at a CAGR of XX% from 2018 to 2030 owing to increasing consumer spending on vehicles suitable for short trips or daily use that can accommodate two or more passengers (light passenger car). In addition, steering wheel lock systems are also installed on light commercial vehicles due largely in part their usage patterns which include driving around cities with narrow roads where loss of control of a vehicle could lead into danger areas and cause severe injuries or death thereby making these vehicles unusable as transport means (illegal immigrants) by police authorities across countries such as U.S.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing increasing road accidents involving heavy commercial vehicles, which, in turn, has led to an increased adoption of steering locks across this region. Moreover, rising cases of vehicle theft and robbery are also anticipated to boost product demand across Asia Pacific.
The European regional market accounted for a significant share in terms of revenue as well as volume owing to stringent regulations imposed on drivers' safety by the government bodies coupled with high awareness regarding road safety among consumers driving different types of vehicles including cars/light commercial vehicles (LCVs), heavy commercial vehicles (HCVs). According to OICA, there were around 3 million stolen cars reported annually from Europe between 2010-2014; however, this number reached 5 million between 2015-2017 due to which steering lock systems have gained significant traction across this region.
Growth Factors:
- Increasing demand for steering lock systems in the automotive industry as a result of increasing safety concerns.
- Growing demand for electric and hybrid vehicles, which are equipped with steering lock systems as standard features, is expected to drive the market growth.
- Rising awareness about the benefits of steering lock systems among consumers is anticipated to fuel market growth over the forecast period.
- Technological advancements in steering lock system design and features are projected to create new opportunities for market growth over the next few years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Steering Lock Systems Market Research Report
By Type
T-Lock, Top Hook Lock, Baseball Lock
By Application
Heavy Commercial Vehicle, Light Commercial Vehicle, Others
By Companies
Delphi Automotive Systems, Tokai Rika, TRW Automotive Holdings Corp, U-Shin, Other Prominent Vendors, CI Car International, Lok-Itt, Delphi Automotive Systems
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
227
Number of Tables & Figures
159
Customization Available
Yes, the report can be customized as per your need.
Global Steering Lock Systems Market Report Segments:
The global Steering Lock Systems market is segmented on the basis of:
Types
T-Lock, Top Hook Lock, Baseball Lock
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Heavy Commercial Vehicle, Light Commercial Vehicle, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Delphi Automotive Systems
- Tokai Rika
- TRW Automotive Holdings Corp
- U-Shin
- Other Prominent Vendors
- CI Car International
- Lok-Itt
- Delphi Automotive Systems
Highlights of The Steering Lock Systems Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- T-Lock
- Top Hook Lock
- Baseball Lock
- By Application:
- Heavy Commercial Vehicle
- Light Commercial Vehicle
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Steering Lock Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Steering lock systems are a type of safety system that helps drivers maintain control of their vehicles. These systems use hydraulic pressure and mechanical locks to keep the steering wheel from turning. If the system detects an unauthorized movement of the steering wheel, it will activate warning lights and sounds in the vehicle, as well as disable power to certain functions in order to prevent further damage or injury.
Some of the major companies in the steering lock systems market are Delphi Automotive Systems, Tokai Rika, TRW Automotive Holdings Corp, U-Shin, Other Prominent Vendors, CI Car International, Lok-Itt, Delphi Automotive Systems.
The steering lock systems market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Steering Lock Systems Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Steering Lock Systems Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Steering Lock Systems Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Steering Lock Systems Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Steering Lock Systems Market Size & Forecast, 2018-2028
4.5.1 Steering Lock Systems Market Size and Y-o-Y Growth
4.5.2 Steering Lock Systems Market Absolute $ Opportunity
Chapter 5 Global Steering Lock Systems Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Steering Lock Systems Market Size Forecast by Type
5.2.1 T-Lock
5.2.2 Top Hook Lock
5.2.3 Baseball Lock
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Steering Lock Systems Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Steering Lock Systems Market Size Forecast by Applications
6.2.1 Heavy Commercial Vehicle
6.2.2 Light Commercial Vehicle
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Steering Lock Systems Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Steering Lock Systems Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Steering Lock Systems Analysis and Forecast
9.1 Introduction
9.2 North America Steering Lock Systems Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Steering Lock Systems Market Size Forecast by Type
9.6.1 T-Lock
9.6.2 Top Hook Lock
9.6.3 Baseball Lock
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Steering Lock Systems Market Size Forecast by Applications
9.10.1 Heavy Commercial Vehicle
9.10.2 Light Commercial Vehicle
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Steering Lock Systems Analysis and Forecast
10.1 Introduction
10.2 Europe Steering Lock Systems Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Steering Lock Systems Market Size Forecast by Type
10.6.1 T-Lock
10.6.2 Top Hook Lock
10.6.3 Baseball Lock
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Steering Lock Systems Market Size Forecast by Applications
10.10.1 Heavy Commercial Vehicle
10.10.2 Light Commercial Vehicle
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Steering Lock Systems Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Steering Lock Systems Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Steering Lock Systems Market Size Forecast by Type
11.6.1 T-Lock
11.6.2 Top Hook Lock
11.6.3 Baseball Lock
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Steering Lock Systems Market Size Forecast by Applications
11.10.1 Heavy Commercial Vehicle
11.10.2 Light Commercial Vehicle
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Steering Lock Systems Analysis and Forecast
12.1 Introduction
12.2 Latin America Steering Lock Systems Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Steering Lock Systems Market Size Forecast by Type
12.6.1 T-Lock
12.6.2 Top Hook Lock
12.6.3 Baseball Lock
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Steering Lock Systems Market Size Forecast by Applications
12.10.1 Heavy Commercial Vehicle
12.10.2 Light Commercial Vehicle
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Steering Lock Systems Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Steering Lock Systems Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Steering Lock Systems Market Size Forecast by Type
13.6.1 T-Lock
13.6.2 Top Hook Lock
13.6.3 Baseball Lock
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Steering Lock Systems Market Size Forecast by Applications
13.10.1 Heavy Commercial Vehicle
13.10.2 Light Commercial Vehicle
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Steering Lock Systems Market: Competitive Dashboard
14.2 Global Steering Lock Systems Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Delphi Automotive Systems
14.3.2 Tokai Rika
14.3.3 TRW Automotive Holdings Corp
14.3.4 U-Shin
14.3.5 Other Prominent Vendors
14.3.6 CI Car International
14.3.7 Lok-Itt
14.3.8 Delphi Automotive Systems
