https://www.maximizemarketresearch.com/market-report/electrical-steering-column-lock-market/12099/ Electrical steering column lock market is majorly segmented by the vehicle, distribution channel, and region wise. Based on vehicle segment PCV is expected to dominate the global Electrical steering column lock market in 2022 owing to the substantial production of these vehicles across the globe. Rising deployment of electric power steering (EPS) in these vehicles will further support the segment dominance till 2029. Electrical steering column lock can be also classified based on the distribution channel, where the OEM segment held the highest market share owing to their process expertise coupled with customer’s trust towards the manufacturer. High-performance vehicles and continuous efforts of industry players for the development of cost-effective solutions are the major factors responsible for the strong preference towards OEMs. High demand for electric power steering (EPS) vehicles across the globe will primarily boost the adoption of electrical steering column lock market share from 2023 to 2029. Growing demand for EPS can be attributed to its benefits such as considerable fuel savings and quick response. Various government bodies have imposed certain regulations to mandate EPS adoption, instigating immense growth potential in the industry. Rising security concerns among customers will further escalate the revenue generation for electric steering column lock market over the forecast timeline. Strengthening electrical vehicles penetration coupled with stringent regulations regarding fuel economy will further contribute to the industry growth significantly. Frequent innovations in column lock mechanism have induced immense potential and these advancements have led to enhanced and simplified vehicle design. For instance, NSK Ltd. introduced an innovative steering wheel column lock mechanism wedge gear system that enhances occupant safety during automotive collisions. It is designed with a wedge in the receiving gear surface and provides over 25% improvement in steering wheel position lock force over traditional design. Moreover, this innovative vehicle uses 70% less components than the conventional design.