BANGALORE, India, July 19, 2024 /PRNewswire/ -- Top Column Modules
(TCM) Market is Segmented by Type (Passenger Cars, Commercial
Vehicles), by Application (OEM, Aftermarket): Global Opportunity
Analysis and Industry Forecast, 2024-2030.
The global Top Column Modules (TCM) market was valued at
USD 10.13 billion in 2023 and is
anticipated to reach USD 15.33
billion by 2030, witnessing a CAGR of 5.98% during the
forecast period 2024-2030.
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Major Factors Driving the Growth of Top Column Modules (TCM)
Market:
The pharmaceutical and biotechnology sectors' growing need for
effective chromatographic solutions is propelling the market for
Top Column Modules (TCM) to strong growth. High-performance liquid
chromatography (HPLC) systems are essential for drug development
and quality control procedures since they require TCMs. The
adoption of TCMs is being driven by an increase in research and
development activities as well as stricter regulatory requirements
for drug approval. Further driving market expansion are
developments in chromatography technology and the growing trend of
laboratory automation. In order to address the changing demands of
the market, major firms are concentrating on creative product
developments and tactical alliances.
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TRENDS INFLUENCING THE GROWTH OF THE TOP COLUMN MODULES (TCM)
MARKET
Another significant factor propelling the TCM market is the
commercial vehicle industry. Commercial vehicles that are
dependable and effective are becoming more and more necessary as
the logistics and transportation sectors grow internationally. TCMs
are essential for improving these vehicles' operational efficiency,
mobility, and safety. Modern commercial cars are increasingly
required to have features like advanced driver assistance systems
(ADAS), integrated control systems, and adaptive steering in TCMs.
The business sector's need for more connected and automated
vehicles raises demand for sophisticated TCM solutions and
facilitates market growth.
The TCM market is expanding thanks in large part to the
aftermarket sector. The requirement for updated and replacement
parts grows as cars get older, which fuels the aftermarket's need
for TCMs. To preserve and improve vehicle performance, customers
and fleet managers look for TCMs that are robust, long-lasting, and
technologically advanced. The growing trend of vehicle
personalization and the incorporation of cutting-edge steering
systems into older vehicles are also advantageous to the
aftermarket sector. Because of this ongoing maintenance requirement
as well as the desire for improved driving characteristics, there
is a constant demand for TCMs in the aftermarket, which supports
market expansion.
One major reason propelling the TCM industry is the expansion of
the electric and hybrid car markets. Specialized TCMs are needed
for electric and hybrid cars in order to satisfy their particular
requirements, which include lighter weight, higher efficiency, and
electronic system integration. The widespread movement towards more
environmentally friendly and sustainable modes of transportation is
driving up demand for and manufacturing of electric and hybrid
cars. The performance and dependability of these cars place a
significant demand on sophisticated TCMs, which in turn fuels the
market's overall expansion.
The TCM market is being driven by consumer desire for more
comfort and convenience in automobiles. Many innovations that
improve driving are included in modern cars, such as ergonomic
designs, integrated control systems, and adjustable steering
columns. In order to provide these functions, TCMs are crucial
parts of both passenger and commercial vehicles. The demand for
sophisticated TCMs is further increased by the move toward premium
and luxury cars, which provide greater comfort and convenience. The
TCM industry is expected to grow as people look for driving
experiences that are more convenient and comfortable.
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TOP COLUMN MODULES (TCM) MARKET SHARE ANALYSIS
As these modules are usually fitted during the car production
process, the OEM segment in the TCM market is substantially larger.
Higher volumes and steady demand from automakers who incorporate
TCMs into their manufacturing processes boost the OEM market. The
OEM category is growing because of the strong demand for new cars,
especially in emerging economies. Furthermore, OEMs and suppliers
frequently have long-term contracts in place, which guarantees TCM
manufacturers a consistent and predictable revenue stream.
Key Players:
- Valeo
- ZF
- Leopold Kostal
- Nexteer Automotive
- Merit Automotive Electronics Systems
- BCS Automotive
- Weastec inc
- Kongsberg Automotive
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