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Market Snapshot

CAGR:9.28

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	9.28

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Report Overview

Steering Wheel Market Analysis Report 2023-2032

The Steering Wheel Market is expected to witness a Compound Annual Growth Rate (CAGR) of 6.5% between 2022 and 2032. Over this period, the market size is projected to grow significantly, reaching USD 12.3 billion. The growth of this market can be attributed to several factors, including advancements in automotive technology, increased demand for driver safety and comfort features, and the expansion of the automotive industry. Steering wheels are integral components of vehicles, playing a critical role in driving control.

Steering Wheel Market Overview

Drivers

One of the key drivers behind the growth of the Steering Wheel Market is the continuous evolution of automotive technology. Modern vehicles are equipped with advanced features such as electronic steering assist systems, integrated controls, and connectivity options. These technologies require sophisticated steering wheels that can accommodate various functionalities.

Additionally, the increasing demand for driver safety and comfort features has led to the development of ergonomically designed steering wheels with integrated controls for navigation, infotainment, and driver-assist systems. These features enhance the driving experience and contribute to market growth.

Trends

An important trend in the Steering Wheel Market is the integration of touch-sensitive controls and haptic feedback in steering wheels. Touch-sensitive surfaces allow drivers to interact with vehicle systems without taking their hands off the wheel, improving safety and convenience. Haptic feedback provides tactile responses, enhancing driver awareness and control.

Another trend is the use of sustainable and lightweight materials in steering wheel construction. Manufacturers are exploring materials such as recycled plastics and natural fibers to reduce weight and environmental impact.

Restraints

The primary restraint in the Steering Wheel Market is the increasing complexity of steering wheel design and manufacturing. Advanced features and materials drive up production costs, which can affect pricing and affordability for consumers.

Moreover, as vehicles become more autonomous, there is a growing debate about the necessity of traditional steering wheels. In fully autonomous vehicles, steering wheels may become redundant, impacting their market demand in the long term.

Market Segmentation By Type

The standard steering wheel segment remains a significant part of the market. These are traditional steering wheels with basic functionalities.

Advanced steering wheels, including those with integrated controls, touch-sensitive surfaces, and haptic feedback, represent a growing segment driven by consumer demand for enhanced driving experiences.

Market Segmentation By Material

Steering wheels are manufactured using various materials. Leather-covered steering wheels are popular for their premium feel, while polyurethane-covered steering wheels are known for durability.

Wooden steering wheels, often used in luxury and classic vehicles, provide a distinct aesthetic appeal.

Regional Overview:

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The Asia-Pacific (APAC) region is expected to be a major contributor to global Steering Wheel Market growth. APAC has a robust automotive manufacturing sector, and rising disposable incomes are driving vehicle sales, boosting the demand for steering wheels.

North America, particularly the United States, is another important market, driven by technological advancements and consumer preferences for advanced features.

Europe, with its strong automotive industry and focus on vehicle safety and design, continues to be a significant region for steering wheel manufacturers.

Steering Wheel Market Customer Landscape

The Steering Wheel Market report offers insights into the preferences and purchasing behavior of various customer segments, including automotive manufacturers, suppliers, and end consumers. Understanding the factors influencing purchase decisions and price sensitivity can help companies tailor their strategies to meet market demands.

Major Steering Wheel Market Companies

Prominent players in the Steering Wheel Market are investing in research and development to stay competitive. They focus on designing innovative steering wheels that cater to changing consumer preferences for safety, comfort, and aesthetics.

Sample list of major companies in the market:

Momo Srl
Grant Products International, Inc.
Autoliv Inc.
Key Safety Systems, Inc.
Nardi-Personal S.p.A
Takata Corporation

Qualitative and quantitative analyses of these companies provide valuable insights into the competitive landscape, enabling stakeholders to understand market dynamics and assess the strengths and weaknesses of key players. Categorizing companies based on their market focus and influence provides a comprehensive view of the competitive environment.

Segment Overview

The Steering Wheel Market report provides revenue forecasts on a global, regional, and country level. It also includes an analysis of emerging trends and growth opportunities spanning from 2019 to 2032.

Type Outlook (USD Billion, 2019 - 2032)

Standard Steering Wheel
Advanced Steering Wheel

Material Outlook (USD Billion, 2019 - 2032)

Leather
Polyurethane
Wood
Others

Geography Outlook (USD Billion, 2019 - 2032)

North America

United States
Canada

Europe

United Kingdom
Germany
France
Rest of Europe

APAC

China
India
Japan
Rest of APAC

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

United Arab Emirates
South Africa
Rest of Middle East & Africa

Table of Contents

Chapter 1 Steering Wheel Market Overview
1.1 Steering Wheel Definition
1.2 Global Steering Wheel Market Size Status and Outlook (2013-2028)
1.3 Global Steering Wheel Market Size Comparison by Region (2013-2028)
1.4 Global Steering Wheel Market Size Comparison by Type (2013-2028)
1.5 Global Steering Wheel Market Size Comparison by Application (2013-2028)
1.6 Global Steering Wheel Market Size Comparison by Sales Channel (2013-2028)
1.7 Steering Wheel Market Dynamics
1.7.1 Market Drivers/Opportunities
1.7.2 Market Challenges/Risks
1.7.3 Market News (Mergers/Acquisitions/ Expansion)
Chapter 2 Steering Wheel Market Segment Analysis by Player
2.1 Global Steering Wheel Sales and Market Share by Player (2016-2018)
2.2 Global Steering Wheel Revenue and Market Share by Player (2016-2018)
2.3 Global Steering Wheel Average Price by Player (2016-2018)
2.4 Players Competition Situation & Trends
2.5 Conclusion of Segment by Player
Chapter 3 Steering Wheel Market Segment Analysis by Type
3.1 Global Steering Wheel Market by Type
3.1.1 Synthetic Plastics
3.1.2 Synthetic Leather
3.1.3 Genuine Leather
3.1.4 Wood
3.1.5 Other
3.2 Global Steering Wheel Sales and Market Share by Type (2013-2018)
3.3 Global Steering Wheel Revenue and Market Share by Type (2013-2018)
3.4 Global Steering Wheel Average Price by Type (2013-2018)
3.5 Leading Players of Steering Wheel by Type in 2018
3.6 Conclusion of Segment by Type
Chapter 4 Steering Wheel Market Segment Analysis by Application
4.1 Global Steering Wheel Market by Application
4.1.1 Passenger Car
4.1.2 Commercial Vehicle
4.2 Global Steering Wheel Sales and Market Share by Application (2013-2018)
4.3 Leading Consumers of Steering Wheel by Application in 2018
4.4 Conclusion of Segment by Application
Chapter 5 Steering Wheel Market Segment Analysis by Sales Channel
5.1 Global Steering Wheel Market by Sales Channel
5.1.1 Direct Channel
5.1.2 Distribution Channel
5.2 Global Steering Wheel Sales and Market Share by Sales Channel (2013-2018)
5.3 Leading Distributors/Dealers of Steering Wheel by Sales Channel in 2018
5.4 Conclusion of Segment by Sales Channel
Chapter 6 Steering Wheel Market Segment Analysis by Region
6.1 Global Steering Wheel Market Size and CAGR by Region (2013-2028)
6.2 Global Steering Wheel Sales and Market Share by Region (2013-2018)
6.3 Global Steering Wheel Revenue and Market Share by Region (2013-2018)
6.4 North America
6.4.1 North America Market by Country
6.4.2 North America Steering Wheel Market Share by Type
6.4.3 North America Steering Wheel Market Share by Application
6.4.4 United States
6.4.5 Canada
6.4.6 Mexico
6.5 Europe
6.5.1 Europe Market by Country
6.5.2 Europe Steering Wheel Market Share by Type
6.5.3 Europe Steering Wheel Market Share by Application
6.5.4 Germany
6.5.5 UK
6.5.6 France
6.5.7 Italy
6.5.8 Russia
6.5.9 Spain
6.6 Asia-Pacific
6.6.1 Asia-Pacific Market by Country
6.6.2 Asia-Pacific Steering Wheel Market Share by Type
6.6.3 Asia-Pacific Steering Wheel Market Share by Application
6.6.4 China
6.6.5 Japan
6.6.6 Korea
6.6.7 India
6.6.8 Southeast Asia
6.6.9 Australia
6.7 South America
6.7.1 South America Market by Country
6.7.2 South America Steering Wheel Market Share by Type
6.7.3 South America Steering Wheel Market Share by Application
6.7.4 Brazil
6.7.5 Argentina
6.7.6 Colombia
6.7.7 Chile
6.8 Middle East & Africa
6.8.1 Middle East & Africa Market by Country
6.8.2 Middle East & Africa Steering Wheel Market Share by Type
6.8.3 Middle East & Africa Steering Wheel Market Share by Application
6.8.4 Egypt
6.8.5 Saudi Arabia
6.8.6 South Africa
6.8.7 Nigeria
6.9 Conclusion of Segment by Region
Chapter 7 Profile of Leading Steering Wheel Players
7.1 TAKATA
7.1.1 Company Snapshot
7.1.2 Product/Business Offered
7.1.3 Business Performance (Sales, Price, Revenue, Gross Margin and Market Share)
7.1.4 Strategy and SWOT Analysis
7.2 ZF TRW
7.3 Autoliv
7.4 TOYODA GOSEI
7.5 Nihon Plast
7.6 Key Safety Systems
7.7 Starion
7.8 TRW&Fawer
7.9 Zhejiang Fangxiang
7.10 Yanfeng
7.11 Ningbo Mecai
7.12 Fellow
7.13 Jiangxi Xingxin
7.14 Daimay
7.15 Shuangou
7.16 Liaoning Jinxing
7.17 Yinzhou Yongcheng
Chapter 8 Upstream and Downstream Analysis of Steering Wheel
8.1 Industrial Chain of Steering Wheel
8.2 Upstream of Steering Wheel
8.2.1 Raw Materials
8.2.2 Labor Cost
8.2.3 Manufacturing Expenses
8.2.4 Manufacturing Cost Structure
8.2.5 Manufacturing Process
8.3 Downstream of Steering Wheel
8.3.1 Leading Distributors/Dealers of Steering Wheel
8.3.2 Leading Consumers of Steering Wheel
Chapter 9 Development Trend of Steering Wheel (2019-2028)
9.1 Global Steering Wheel Market Size (Sales and Revenue) Forecast (2019-2028)
9.2 Global Steering Wheel Market Size and CAGR Forecast by Region (2019-2028)
9.3 Global Steering Wheel Market Size and CAGR Forecast by Type (2019-2028)
9.4 Global Steering Wheel Market Size and CAGR Forecast by Application (2019-2028)
9.5 Global Steering Wheel Market Size Forecast by Sales Channel (2019-2028)
Chapter 10 Appendix
10.1 Research Methodology
10.2 Data Sources
10.3 Disclaimer
10.4 Analysts Certification

List of Tables and Figures

Figure Steering Wheel Example
Figure Global Steering Wheel Revenue (Million $) Status and Outlook (2013-2028)
Figure Global Steering Wheel Revenue (Million $) Comparison by Region (2013-2028)
Figure Global Steering Wheel Sales Comparison by Type (2013-2028)
Figure Global Steering Wheel Sales Comparison by Application (2013-2028)
Figure Global Steering Wheel Sales Comparison by Sales Channel (2013-2028)
Table Global Steering Wheel Sales by Player (2016-2018)
Table Global Steering Wheel Sales Market Share by Player (2016-2018)
Figure Global Steering Wheel Sales Market Share by Player in 2018
Table Global Steering Wheel Revenue (Million $) by Player (2016-2018)
Table Global Steering Wheel Revenue Market Share by Player (2016-2018)
Figure Global Steering Wheel Revenue Market Share by Player in 2018
Table Global Steering Wheel Average Price by Player (2016-2018)
Figure Global Steering Wheel Average Price by Player in 2018
Figure Global Steering Wheel Players Competition Situation - Top 5 Players' Revenue Market Share in 2016
Figure Global Steering Wheel Players Competition Trends - Top 5 Players' Revenue Market Share in 2018
Figure Example of Synthetic Plastics
Figure Global Synthetic Plastics Sales and Growth Rate (2013-2018)
Figure Example of Synthetic Leather
Figure Global Synthetic Leather Sales and Growth Rate (2013-2018)
Figure Example of Genuine Leather
Figure Global Genuine Leather Sales and Growth Rate (2013-2018)
Figure Example of Wood
Figure Global Wood Sales and Growth Rate (2013-2018)
Figure Example of Other
Figure Global Other Sales and Growth Rate (2013-2018)
Table Global Steering Wheel Sales by Type (2013-2018)
Table Global Steering Wheel Sales Market Share by Type (2013-2018)
Figure Global Steering Wheel Sales Market Share by Type in 2018
Table Global Steering Wheel Revenue (Million $) by Type (2013-2018)
Table Global Steering Wheel Revenue Market Share by Type (2013-2018)
Figure Global Steering Wheel Revenue Market Share by Type in 2018
Table Global Steering Wheel Average Price by Type (2013-2018)
Figure Global Steering Wheel Average Price by Type in 2018
Table Leading Players of Steering Wheel by Type in 2018
Figure Example of Passenger Car
Figure Global Steering Wheel for Passenger Car Sales and Growth Rate (2013-2018)
Figure Example of Commercial Vehicle
Figure Global Steering Wheel for Commercial Vehicle Sales and Growth Rate (2013-2018)
Table Global Steering Wheel Sales by Application (2013-2018)
Table Global Steering Wheel Sales Market Share by Application (2013-2018)
Figure Global Steering Wheel Sales Market Share by Application in 2018
Table Leading Consumers of Steering Wheel by Application in 2018
Figure Example of Direct Channel
Figure Global Steering Wheel for Direct Channel Sales and Growth Rate (2013-2018)
Figure Example of Distribution Channel
Figure Global Steering Wheel for Distribution Channel Sales and Growth Rate (2013-2018)
Table Global Steering Wheel Sales by Sales Channel (2013-2018)
Table Global Steering Wheel Sales Market Share by Sales Channel (2013-2018)
Figure Global Steering Wheel Sales Market Share by Sales Channel in 2018
Table Leading Distributors/Dealers of Steering Wheel by Sales Channel in 2018
Table Global Steering Wheel Market Size and CAGR by Region (2013-2028)
Table Global Steering Wheel Sales by Region (2013-2018)
Table Global Steering Wheel Sales Market Share by Region (2013-2018)
Figure Global Steering Wheel Sales Market Share by Region in 2018
Table Global Steering Wheel Revenue (Million $) by Region (2013-2018)
Table Global Steering Wheel Revenue Market Share by Region (2013-2018)
Figure Global Steering Wheel Revenue Market Share by Region in 2018
Table North America Steering Wheel Sales by Country (2013-2018)
Figure North America Steering Wheel Sales Market Share by Country (2013-2018)
Table North America Steering Wheel Revenue by Country (2013-2018)
Figure North America Steering Wheel Revenue Market Share by Country (2013-2018)
Figure North America Steering Wheel Sales Market Share by Type in 2018
Figure North America Steering Wheel Sales Market Share by Application in 2018
Figure United States Steering Wheel Sales and Growth Rate (2013-2018)
Figure United States Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Figure Canada Steering Wheel Sales and Growth Rate (2013-2018)
Figure Canada Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Figure Mexico Steering Wheel Sales and Growth Rate (2013-2018)
Figure Mexico Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Table Europe Steering Wheel Sales by Country (2013-2018)
Figure Europe Steering Wheel Sales Market Share by Country (2013-2018)
Table Europe Steering Wheel Revenue by Country (2013-2018)
Figure Europe Steering Wheel Revenue Market Share by Country (2013-2018)
Figure Europe Steering Wheel Sales Market Share by Type in 2018
Figure Europe Steering Wheel Sales Market Share by Application in 2018
Figure Germany Steering Wheel Sales and Growth Rate (2013-2018)
Figure Germany Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Figure UK Steering Wheel Sales and Growth Rate (2013-2018)
Figure UK Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Figure France Steering Wheel Sales and Growth Rate (2013-2018)
Figure France Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Figure Italy Steering Wheel Sales and Growth Rate (2013-2018)
Figure Italy Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Figure Russia Steering Wheel Sales and Growth Rate (2013-2018)
Figure Russia Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Figure Spain Steering Wheel Sales and Growth Rate (2013-2018)
Figure Spain Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Table Asia-Pacific Steering Wheel Sales by Country (2013-2018)
Figure Asia-Pacific Steering Wheel Sales Market Share by Country (2013-2018)
Table Asia-Pacific Steering Wheel Revenue by Country (2013-2018)
Figure Asia-Pacific Steering Wheel Revenue Market Share by Country (2013-2018)
Figure Asia-Pacific Steering Wheel Sales Market Share by Type in 2018
Figure Asia-Pacific Steering Wheel Sales Market Share by Application in 2018
Figure China Steering Wheel Sales and Growth Rate (2013-2018)
Figure China Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Figure Japan Steering Wheel Sales and Growth Rate (2013-2018)
Figure Japan Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Figure Korea Steering Wheel Sales and Growth Rate (2013-2018)
Figure Korea Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Figure India Steering Wheel Sales and Growth Rate (2013-2018)
Figure India Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Figure Southeast Asia Steering Wheel Sales and Growth Rate (2013-2018)
Figure Southeast Asia Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Figure Australia Steering Wheel Sales and Growth Rate (2013-2018)
Figure Australia Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Table South America Steering Wheel Sales by Country (2013-2018)
Figure South America Steering Wheel Sales Market Share by Country (2013-2018)
Table South America Steering Wheel Revenue by Country (2013-2018)
Figure South America Steering Wheel Revenue Market Share by Country (2013-2018)
Figure South America Steering Wheel Sales Market Share by Type in 2018
Figure South America Steering Wheel Sales Market Share by Application in 2018
Figure Brazil Steering Wheel Sales and Growth Rate (2013-2018)
Figure Brazil Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Figure Argentina Steering Wheel Sales and Growth Rate (2013-2018)
Figure Argentina Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Figure Colombia Steering Wheel Sales and Growth Rate (2013-2018)
Figure Colombia Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Figure Chile Steering Wheel Sales and Growth Rate (2013-2018)
Figure Chile Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Table Middle East & Africa Steering Wheel Sales by Country (2013-2018)
Figure Middle East & Africa Steering Wheel Sales Market Share by Country (2013-2018)
Table Middle East & Africa Steering Wheel Revenue by Country (2013-2018)
Figure Middle East & Africa Steering Wheel Revenue Market Share by Country (2013-2018)
Figure Middle East & Africa Steering Wheel Sales Market Share by Type in 2018
Figure Middle East & Africa Steering Wheel Sales Market Share by Application in 2018
Figure Egypt Steering Wheel Sales and Growth Rate (2013-2018)
Figure Egypt Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Figure Saudi Arabia Steering Wheel Sales and Growth Rate (2013-2018)
Figure Saudi Arabia Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Figure South Africa Steering Wheel Sales and Growth Rate (2013-2018)
Figure South Africa Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Figure Nigeria Steering Wheel Sales and Growth Rate (2013-2018)
Figure Nigeria Steering Wheel Revenue (Million $) and Growth Rate (2013-2018)
Table Company Snapshot of TAKATA
Table Steering Wheel Introduction of TAKATA
Table Steering Wheel Sales, Price, Revenue, Gross Margin and Market Share of TAKATA (2016-2018)
Table Industrial Chain of Steering Wheel
Table Manufacturing Cost Structure of Steering Wheel
Table General Manufacturing Process of Steering Wheel
Table Leading Distributors/Dealers of Steering Wheel
Table Leading Consumers of Steering Wheel
Figure Global Steering Wheel Sales and Growth Rate Forecast (2019-2028)
Figure Global Steering Wheel Revenue and Growth Rate Forecast (2019-2028)
Table Global Steering Wheel Market Size and CAGR Forecast by Region (2019-2028)
Table Global Steering Wheel Market Size and CAGR Forecast by Type (2019-2028)
Table Global Steering Wheel Market Size and CAGR Forecast by Application (2019-2028)
Table Global Steering Wheel Market Size and CAGR Forecast by Sales Channel (2019-2028)

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Steering Wheel Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032