Steering Wheel Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	150 Pages	Fortune Business Insights Pvt. Ltd.	September, 2024	FOB19185642

Best Price Guarantee
Price	from $4,850
Length	150 Pages
Publisher	Fortune Business Insights Pvt. Ltd.
Published Date	September, 2024
SKU	FOB19185642

Steering Wheel Market

Growth Factors of Steering Wheel Market

The global steering wheel market size was valued at USD 22.10 billion in 2023 and is projected to grow from USD 39.77 billion in 2024 to USD 48.89 billion by 2032, exhibiting a CAGR of 9.5% during the forecast period of 2024-2032.

The COVID-19 pandemic disrupted the guidance wheel market via delivery chain interruptions and reduced automobile production. Lockdowns and monetary uncertainty brought about decreased vehicle income and steering wheel calls for. As the car enterprise recovers, the marketplace rebounds with renewed production and technological advancements, impeding the steering wheel market growth.

Growing automobile manufacturing, technological improvements, and multiplied calls for safety functions drive the steerage wheel marketplace. Innovations like adaptive steering structures and the boom of electrical and self-reliant motors also contribute to marketplace expansion.

Advanced Driver Assistance Systems (ADAS) have become increasingly incorporated into steering wheels, remodelling them into a vital hub for vehicle management. Steering wheels now include buttons, controls, and haptic feedback to permit drivers to get right of entry to and engage with numerous ADAS features, expanding the steering wheel market share globally. Additionally, a few guidance wheels function with gesture-based total controls, allowing drivers to use hand moves to navigate via menus and prompt capabilities. Integrating ADAS into steerage wheels gives drivers an extra handy and intuitive way to enter and use those superior technologies.

Comprehensive Analysis of Steering Wheel Market

The steerage wheel market is segmented based on technology, size, and car kind. Technologically, the market is split into regular and embedded control guidance, with embedded manage steering dominating because of advances like steer-via-wire and direct adaptive steering. In terms of size, small guidance wheels are anticipated to keep the largest market share due to their excessive adoption in passenger cars and light industrial vehicles. By vehicle type, passenger automobiles lead the market, driven through increased production and income of passenger cars, whilst the industrial car segment is likewise developing, encouraged by the call for heavy-loaded motors and accelerated production of mild and medium-heavy business motors.

The Asia Pacific region led the steering wheel market by benefitting a size of USD 11.39 billion in 2023 due to its status as an automotive hub with rising vehicle production each year, the region is expected to dominate the global market.

The leading players in the steering wheel market significantly shape its growth and set industry benchmarks. Key companies in this sector include Autoliv Inc. (Sweden), ZF Friedrichshafen AG (Germany), JTEKT Corporation (Japan), Toyoda Gosei Co. Ltd (Japan), Ningbo Joyson Electronics Co. Ltd (China), Nexteer Corporation (U.S.), Hyundai Mobis Co. Ltd (South Korea), GKN Automotive (U.K.), and Nihon Plast Co. Ltd (Japan). These industry leaders contribute to a competitive landscape, driving innovation and advancing market development.

In May 2023, At the Shanghai Automobile Industry Exhibition 2023, Autoliv, Inc. Showcased a selection of new protection innovations. These consist of an included cockpit, a 0-gravity seat, and the Star steering wheel, all crafted to beautify safety, comfort, and the overall driving experience.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 9.5% over 2024 to 2032

Unit Value ( USD Billion)

Segmentation By Technology Type

- Normal

- Control Embedded

By Size

- Small

- Medium

- Large

By Vehicle Type

- Passenger Vehicle

- Commercial Vehicle

By Geography

- North America (Technology Type, Size, Vehicle Type)

U.S. (By Vehicle Type)
Canada (By Vehicle Type)
Mexico (By Vehicle Type)

- Europe (Technology Type, Size, Vehicle Type)

U.K. (By Vehicle Type)
Germany (By Vehicle Type)
France (By Vehicle Type)
Rest of Europe (By Vehicle Type)

- Asia Pacific (Technology Type, Size, Vehicle Type)

China (By Vehicle Type)
Japan (By Vehicle Type)
India (Vehicle Type)
Rest of Asia Pacific (By Vehicle Type)

Please Note:

1. Introduction: 1.1. Research Scope; 1.2. Market Segmentation; 1.3. Research Methodology; 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics: 3.1. Market Drivers; 3.2. Market Restraints; 3.3. Market Opportunities
4. Key Insights: 4.1. Key Industry Developments - Merger, Acquisitions, and Partnerships; 4.2. Distribution Analysis; 4.3. Porter’s Five Forces Analysis; 4.4. PEST Analysis; 4.5. Technological Developments; 4.6. Impact of COVID-19
5. Global Steering Wheel Market Analysis, Insights and Forecast, 2019-2032: 5.1. Key Findings / Summary; 5.2. Market Analysis, Insights and Forecast – By Technology Type; 5.2.1. Normal; 5.2.2. Embedded Control; 5.3. Market Analysis, Insights and Forecast – By Size; 5.3.1. Small; 5.3.2. Medium; 5.3.3. Large; 5.4. Market Analysis, Insights and Forecast – By Vehicle Type; 5.4.1. Passenger Car; 5.4.2. Commercial Vehicle; 5.5. Market Analysis, Insights and Forecast – By Region; 5.5.1. North America; 5.5.2. Europe; 5.5.3. Asia Pacific; 5.5.4. Rest of the World
6. North America Steering Wheel Market Analysis, Insights and Forecast, 2019-2032: 6.1. Key Findings / Summary; 6.2. Market Analysis – By Technology Type; 6.2.1. Normal; 6.2.2. Embedded Control; 6.3. Market Analysis – By Size; 6.3.1. Small; 6.3.2. Medium; 6.3.3. Large; 6.4. Market Analysis, Insights and Forecast – By Vehicle Type; 6.4.1. Passenger Car; 6.4.2. Commercial Vehicle; 6.5. Market Analysis – By Country; 6.5.1. U.S.; 6.5.1.1. By vehicle type; 6.5.2. Canada; 6.5.2.1. By vehicle type; 6.5.3. Mexico; 6.5.3.1. By vehicle type
7. Europe Steering Wheel Market Analysis, Insights and Forecast, 2019-2032: 7.1. Key Findings / Summary; 7.2. Market Analysis – By Technology Type; 7.2.1. Normal; 7.2.2. Embedded Control; 7.3. Market Analysis – By Size Type; 7.3.1. Small; 7.3.2. Medium; 7.3.3. Large; 7.4. Market Analysis, Insights and Forecast – By Vehicle Type; 7.4.1. Passenger Car; 7.4.2. Commercial Vehicle; 7.5. Market Analysis – By Country; 7.5.1. U.K.; 7.5.1.1. By vehicle type; 7.5.2. Germany; 7.5.2.1. By vehicle type; 7.5.3. France; 7.5.3.1. By vehicle type; 7.5.4. Rest of Europe; 7.5.4.1. By vehicle type
8. Asia Pacific Steering Wheel Market Analysis, Insights and Forecast, 2019-2032: 8.1. Key Findings / Summary; 8.2. Market Analysis – By Technology Type; 8.2.1. Normal; 8.2.2. Embedded Control; 8.3. Market Analysis – By Size; 8.3.1. Small; 8.3.2. Medium; 8.3.3. Large; 8.4. Market Analysis, Insights and Forecast – By Vehicle Type; 8.4.1. Passenger Car; 8.4.2. Commercial Vehicle; 8.5. Market Analysis – By Country; 8.5.1. China; 8.5.1.1. By Vehicle type; 8.5.2. Japan; 8.5.2.1. By vehicle type; 8.5.3. India; 8.5.3.1. By vehicle type; 8.5.4. Rest Of Asia Pacific; 8.5.4.1. By vehicle type
9. Rest of the World Steering Wheel Market Analysis, Insights and Forecast, 2019-2032: 9.1. Key Findings / Summary; 9.2. Market Analysis – By Technology Type; 9.2.1. Normal; 9.2.2. Embedded Control; 9.3. Market Analysis – By Size; 9.3.1. Small; 9.3.2. Medium; 9.3.3. Large; 9.4. Market Analysis, Insights and Forecast – By Vehicle Type; 9.4.1. Passenger Car; 9.4.2. Commercial Vehicle
10. Competitive Analysis: 10.1. Key Industry Developments; 10.2. Global Market Ranking Analysis (2023); 10.3. Competition Dashboard; 10.4. Comparative Analysis – Major Players; 10.5. Company Profiles; 10.5.1. Autoliv Inc; 10.5.1.1. Overview; 10.5.1.2. Products & services; 10.5.1.3. SWOT Analysis; 10.5.1.4. Recent Developments; 10.5.1.5. Strategies; 10.5.1.6. Financials (Based on Availability); 10.5.2. ZF Friedrichshafen AG; 10.5.2.1. Overview; 10.5.2.2. Products & services; 10.5.2.3. SWOT Analysis; 10.5.2.4. Recent Developments; 10.5.2.5. Strategies; 10.5.2.6. Financials (Based on Availability); 10.5.3. JTEKT Corporation; 10.5.3.1. Overview; 10.5.3.2. Products & services; 10.5.3.3. SWOT Analysis; 10.5.3.4. Recent Developments; 10.5.3.5. Strategies; 10.5.3.6. Financials (Based on Availability); 10.5.4. Toyoda Gosei Co. Ltd; 10.5.4.1. Overview; 10.5.4.2. Products & services; 10.5.4.3. SWOT Analysis; 10.5.4.4. Recent Developments; 10.5.4.5. Strategies; 10.5.4.6. Financials (Based on Availability); 10.5.5. Ningbo Joyson Electronics Co. Ltd; 10.5.5.1. Overview; 10.5.5.2. Products & services; 10.5.5.3. SWOT Analysis; 10.5.5.4. Recent Developments; 10.5.5.5. Strategies; 10.5.5.6. Financials (Based on Availability); 10.5.6. Nexteer Corporation; 10.5.6.1. Overview; 10.5.6.2. Products & services; 10.5.6.3. SWOT Analysis; 10.5.6.4. Recent Developments; 10.5.6.5. Strategies; 10.5.6.6. Financials (Based on Availability); 10.5.7. Hyundai Mobis Co. Ltd; 10.5.7.1. Overview; 10.5.7.2. Products & services; 10.5.7.3. SWOT Analysis; 10.5.7.4. Recent Developments; 10.5.7.5. Strategies; 10.5.7.6. Financials (Based on Availability)