What is Global Automotive Steering Wheel Market?
The Global Automotive Steering Wheel Market is a comprehensive study of the various aspects of the automotive steering wheel industry on a global scale. This market is a crucial component of the automotive industry, as the steering wheel is an essential part of any vehicle, responsible for controlling the direction of the vehicle. The market encompasses the production, distribution, and sales of different types of steering wheels, including plastic, leather, and wooden steering wheels, for various types of vehicles. The market's value is determined by the demand for these steering wheels in the automotive industry, which is influenced by factors such as the production of new vehicles, the replacement of old steering wheels, and the preferences of consumers. The market is also influenced by technological advancements, which have led to the development of innovative steering wheels with features such as integrated controls for audio, cruise control, and other functions.
Plastics Steering Wheel, Leather Steering Wheel, Wooden Steering Wheel in the Global Automotive Steering Wheel Market:
The Global Automotive Steering Wheel Market includes different types of steering wheels, such as plastics steering wheel, leather steering wheel, and wooden steering wheel. The plastic steering wheel is the most common type, due to its durability, low cost, and ease of production. It is widely used in various types of vehicles, including passenger cars, light commercial vehicles, and heavy trucks. The leather steering wheel is a premium product, known for its luxurious feel and aesthetic appeal. It is commonly used in high-end vehicles, including luxury cars and premium SUVs. The wooden steering wheel is a classic product, often used in vintage cars and luxury yachts. Each type of steering wheel has its own market, influenced by factors such as the type of vehicle, the preferences of consumers, and the trends in the automotive industry.
Passenger Cars, Light Commercial Vehicles, Heavy Trucks, Buses & Coaches, Others in the Global Automotive Steering Wheel Market:
The Global Automotive Steering Wheel Market is used in various areas, including passenger cars, light commercial vehicles, heavy trucks, buses & coaches, and others. In passenger cars, the steering wheel is a crucial component, responsible for controlling the direction of the vehicle. The market for steering wheels in passenger cars is influenced by factors such as the production of new cars, the replacement of old steering wheels, and the preferences of consumers. In light commercial vehicles, the steering wheel is also an essential component, used for controlling the direction of the vehicle. The market for steering wheels in light commercial vehicles is influenced by factors such as the production of new vehicles, the replacement of old steering wheels, and the trends in the commercial vehicle industry. In heavy trucks, buses & coaches, the steering wheel is a vital component, used for controlling the direction of the vehicle. The market for steering wheels in these vehicles is influenced by factors such as the production of new vehicles, the replacement of old steering wheels, and the trends in the heavy vehicle industry.
Global Automotive Steering Wheel Market Outlook:
The global Automotive Steering Wheel market, valued at US$ 6046 million in 2022, is projected to reach a value of US$ 8314 million by 2029. This represents a compound annual growth rate (CAGR) of 4.6% during the forecast period from 2023 to 2029. The market is dominated by two major manufacturers, Toyoda Gosei and Autoliv, each holding a market share of 13%. The largest market for Automotive Steering Wheel is China, accounting for nearly 30% of the global market share. This data provides a snapshot of the current state of the market, highlighting the key players and the major market regions. It also provides a projection of the market's growth, indicating a positive outlook for the future.
| Report Metric | Details |
| Report Name | Automotive Steering Wheel Market |
| Accounted market size in 2023 | US$ 6347.8 million |
| Forecasted market size in 2029 | US$ 8314 million |
| CAGR | 4.6 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Toyoda Gosei, Autoliv, ZF Friedrichshafen AG, Yanfeng, Joyson Safety Systems, GSK InTek Co., Ltd., Tokai Rika, Neaton Auto Products Manufacturing, Inc., Fang Le, Sparco S.P.A, Shanghai Daimay Automotive Interior Co., Ltd, Grant Products |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
