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The passenger car sector is estimated to account for more than 78% of the market share in terms of value and is projected to increase at a CAGR of 7.1% during the forecast period, according to research on the automotive steering wheel industry. Over the forecast period, the global market for automobile steering wheels is expected to expand at a CAGR of 4.6%. The rising need for automobile wheels in passenger cars equipped with airbags is mostly responsible for this volume increase.
Increases in population and car production, technological advancements in both software and hardware, and an expanding international economy are just a few of the other factors influencing the industry.
The driver can guide the car by using the steering wheel. It has controls for the turn signals, headlights, and wipers. Depending on the steering mechanism, it may also be referred to as a hand wheel or a driving wheel. The driver controls the steering system via the wheel, and the rest of the system moves in response to the wheel's movements. The steering system transforms the driver's rotational input into the front wheel's angular motion and amplifies the effort by mechanical advantage.
All mass-produced autos, including buses, light & heavy trucks, and tractors, employ steering wheels. Additional controls, such as cruise control, radio and telephone controls, and paddle-shifters, are integrated into the steering wheels of modern vehicles to reduce the need for the driver to take their hands off the wheel. Improvements in steering wheel technology help drivers focus on the road ahead, reducing the likelihood of accidents. The mechanical advantage of the steering system over traditional front-wheel steering knuckles allows the front wheels to be turned in any direction with minimal effort from the driver. As a result, the automobile steering wheel market is anticipated to be significantly influenced by the rising rate of automation adoption and the rising purchasing power of consumers.
The automotive steering wheel market is expected to expand thanks to rising disposable income, an expanding population, and a rise in the desire for automobiles with high-tech features. The PESTLE study reveals that several external and internal factors impact the automobile steering wheel industry.
The global spread of COVID-19 has had a negative impact on the automobile sector, especially the market for steering wheels. Government rules and restrictions enacted in response to the epidemic have resulted in a precipitous drop in the manufacture of autos and automotive components due to lockdowns and the imposition of curfews. China, the world's largest automaker, has been unable to export any raw materials because the pandemic has disrupted logistics, transportation, and the supply chain. The Chinese market has also been hurt by the relocation of several manufacturing facilities outside of China.
Report Coverage
Global Automotive Steering Wheel research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Automotive Steering Wheel report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Automotive Steering Wheel competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Automotive Steering Wheel market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Automotive Steering Wheel market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Automotive Steering Wheel market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Isotta, Autoliv, Momo Automotive Accessories Inc., Hyundai Mobis Co. Ltd, Sabic., Takata, GSK Intek, Moto Lita, Key Safety Systems, Toyoda Gosei
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Automotive Steering Wheel market based on the below-mentioned segments:
Global Automotive Steering Wheel Market, By Vehicle Type
Passenger Cars
Commercial Vehicles
Global Automotive Steering Wheel market, By Wheel Type
Small Wheel Type
Medium Wheel Type
Large Wheel Type
Global Automotive Steering Wheel Market, By Technology Type
Normal Steering Wheel
Control Embedded Steering Wheel
Global Automotive Steering Wheel market, Regional Analysis
Increases in population and car production, technological advancements in both software and hardware, and an expanding international economy are just a few of the other factors influencing the industry.
The driver can guide the car by using the steering wheel. It has controls for the turn signals, headlights, and wipers. Depending on the steering mechanism, it may also be referred to as a hand wheel or a driving wheel. The driver controls the steering system via the wheel, and the rest of the system moves in response to the wheel's movements. The steering system transforms the driver's rotational input into the front wheel's angular motion and amplifies the effort by mechanical advantage.
All mass-produced autos, including buses, light & heavy trucks, and tractors, employ steering wheels. Additional controls, such as cruise control, radio and telephone controls, and paddle-shifters, are integrated into the steering wheels of modern vehicles to reduce the need for the driver to take their hands off the wheel. Improvements in steering wheel technology help drivers focus on the road ahead, reducing the likelihood of accidents. The mechanical advantage of the steering system over traditional front-wheel steering knuckles allows the front wheels to be turned in any direction with minimal effort from the driver. As a result, the automobile steering wheel market is anticipated to be significantly influenced by the rising rate of automation adoption and the rising purchasing power of consumers.
The automotive steering wheel market is expected to expand thanks to rising disposable income, an expanding population, and a rise in the desire for automobiles with high-tech features. The PESTLE study reveals that several external and internal factors impact the automobile steering wheel industry.
The global spread of COVID-19 has had a negative impact on the automobile sector, especially the market for steering wheels. Government rules and restrictions enacted in response to the epidemic have resulted in a precipitous drop in the manufacture of autos and automotive components due to lockdowns and the imposition of curfews. China, the world's largest automaker, has been unable to export any raw materials because the pandemic has disrupted logistics, transportation, and the supply chain. The Chinese market has also been hurt by the relocation of several manufacturing facilities outside of China.
Report Coverage
Global Automotive Steering Wheel research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Automotive Steering Wheel report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Automotive Steering Wheel competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Automotive Steering Wheel market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Isotta, Autoliv, Momo Automotive Accessories Inc., Hyundai Mobis Co. Ltd, Sabic., Takata, GSK Intek, Moto Lita, Key Safety Systems, Toyoda Gosei |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Automotive Steering Wheel Market from 2021 to 2030.
- Market Forecast for Automotive Steering Wheel Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Automotive Steering Wheel competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Automotive Steering Wheel
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Automotive Steering Wheel market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Automotive Steering Wheel market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Isotta, Autoliv, Momo Automotive Accessories Inc., Hyundai Mobis Co. Ltd, Sabic., Takata, GSK Intek, Moto Lita, Key Safety Systems, Toyoda Gosei
Primary Target Market
- Market Players of Automotive Steering Wheel
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Automotive Steering Wheel market based on the below-mentioned segments:
Global Automotive Steering Wheel Market, By Vehicle Type
Passenger Cars
Commercial Vehicles
Global Automotive Steering Wheel market, By Wheel Type
Small Wheel Type
Medium Wheel Type
Large Wheel Type
Global Automotive Steering Wheel Market, By Technology Type
Normal Steering Wheel
Control Embedded Steering Wheel
Global Automotive Steering Wheel market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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Through INFINITIVE Data Expert is a professional Market Research services, I will identify the automotive steering wheel market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.