Global Automotive Steering Wheel Market 2024-2028
The automotive steering wheel market is forecasted to grow by USD 11.20 bn during 2023-2028, accelerating at a CAGR of 7% during the forecast period. The report on the automotive steering wheel market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing use of steering-mounted electronics makes wheels more intuitive, growing adoption of electronic and assisted steering systems, and increase in sales of electric vehicles.
Technavio's automotive steering wheel market is segmented as below:
By Application
- Passenger cars
- Commercial vehicles
By Channel
By Geographical Landscape
- APAC
- North America
- Europe
- South America
- Middle East and Africa
This study identifies the debut of gesture recognition technology in steering wheels as one of the prime reasons driving the automotive steering wheel market growth during the next few years. Also, development of collapsing/foldable steering wheels and continuous advances in steering wheel technology will lead to sizable demand in the market.
The report on the automotive steering wheel market covers the following areas:
- Automotive steering wheel market sizing
- Automotive steering wheel market forecast
- Automotive steering wheel market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive steering wheel market vendors that include A.G Industries Pvt. Ltd., AB Volvo, Autoliv Inc., Dowlais Group plc, Grant Products, GSK InTek Co. Ltd., ISOTTA, Joyson Safety Systems Aschaffenburg GmbH, KKR Metal Components, MOMO Srl, MZW Motor, Nexteer Automotive Group Ltd., Nihon Plast Co. Ltd., SAIC Motor Corp. Ltd., Sun Autoelektrik Pvt. Ltd., Tokai Rika Co. Ltd., Toyoda Gosei Co. Ltd., Valeo SA, ZF Friedrichshafen AG, and Moto Lita Ltd.. Also, the automotive steering wheel market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.