Markntel Advisors’ report, Automotive Steering Wheel Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2030, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Automotive Steering Wheel presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.
Automotive Steering Wheel Market Research Report & Market Summary:
The Global Automotive Steering Wheel Market size was valued at around USD 37.5 billion in 2024 and is projected to reach USD 45 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 3.1% during the forecast period (2025-30). Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS).
If you’re interested in the assumptions considered in this study, you can download the PDF brochure- https://www.marknteladvisors.com/query/request-sample/automotive-steering-wheel-market.html
Automotive Steering Wheel Market Dynamics:
Key Driver-
Increasing Penetration of Electric Vehicles Globally – Carried by a decarbonization challenge globally, the EV segment has highly penetrated the market over the years with the support of various policies and incentives globally. The need for customized steering wheel designs that fulfill the requirements of electric vehicles and technologically sophisticated vehicles is increasing. In 2023, Nearly 1 in 5 cars sold were EVs with around 14 million new electric car registrations bringing the total number of on-road cars to around 40 million. By the end of 2024, electric car sales would reach up to 17 million accounting for approximately 20% of total car sales.
This is one of the major drivers propelling the global automotive steering wheel industry. By focusing on the integration of cutting-edge features like haptic feedback touch controls and creative steering designs EV manufacturers are opening up new markets for steering wheels. For instance; the introduction of the yoke-style rectangular-shaped steering wheel design by Tesla featured in their Model S & X electric vehicles.
Automotive Steering Wheel Market Segmentation Analysis:
According to MarkNtel study the market is segmented into the following categories:
By Vehicle Type
- Passenger Vehicles- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Hatchbacks- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Sedans- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- SUVs- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Crossovers- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Commercial Vehicles- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Electric Vehicles-Market Size & Forecast 2020-2030, Units Sold (Thousands)
Out of them passenger vehicles dominate the Global Automotive Steering Wheel Market. It holds approx. 69% share of the total market.
By Product Type
- Magnesium Steering Wheel- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Aluminum Steering Wheel (Landscaping)- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Steel Steering Wheel- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Others
By Technology Type
- Electronic Steering-Market Size & Forecast 2020-2030, Units Sold (Thousands)
- H-EPS -Market Size & Forecast 2020-2030, Units Sold (Thousands)
- C-EPS-Market Size & Forecast 2020-2030, Units Sold (Thousands)
- P-EPS-Market Size & Forecast 2020-2030, Units Sold (Thousands)
- R-EPS-Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Hydraulic Steering-Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Manual Steering-Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Electro-Hydraulic Steering-Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Others – Market Size & Forecast 2020-2030, Units Sold (Thousands)
By Wheel Type
- Small Wheel Type- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Medium Wheel Type- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Large Wheel Type- Market Size & Forecast 2020-2030, Units Sold (Thousands)
By Sales Channel
- OEM- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Aftermarket- Market Size & Forecast 2020-2030, Units Sold (Thousands)
Out of them, the Original Equipment Manufacturer (OEM) segment dominates the market. It holds approximately 80% share of the total market value globally.
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific.
Out of them, Asia-Pacific leads the Global Automotive Steering Wheel Market. It holds approximately 30% market share of the entire industry.
As indicated in the latest market research report published by Markntel Advisors, “Automotive Steering Wheel Research Report: Forecast (2025-2030)”, this report offers a detailed analysis of the industry, featuring insights into the Automotive Steering Wheel industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.
Browse Full Report Along with TOC and Figures – https://www.marknteladvisors.com/research-library/automotive-steering-wheel-market.html
Top Companies Operating in the Automotive Steering Wheel Market:
- Hyundai Mobis Co. Ltd.
- JTEKT Corporation
- Nexteer Automotive Group Ltd.
- Showa Corp.
- ThyssenKrupp AG
- Hitachi Automotive System Ltd.
- Robert Bosch GmbH
- NSK Steering System Co. Ltd.
- Mando Corp.
- ZF Friedrichshafen AG
- ATS Automation Tooling System Inc.
- Mitsubishi Electric Corporation
- Autoliv Inc
- China Automotive Systems, Inc.
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Key Report Highlights:
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
Note – If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.
Frequently Asked Questions (FAQs)-
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- How has the industry been evolving in terms of geography & Automotive Steering Wheel Market adoption?
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- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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