What Is Driving the Growth of the Global Automotive Steering Wheel Market?

The Global Automotive Steering Wheel Market is projected to grow from USD 4.9 billion in 2023 to USD 7.1 billion by 2030, registering a CAGR of 5.5% during the forecast period. The increasing focus on driver safety, integration of steering-mounted electronics, and the rapid adoption of electric and autonomous vehicles are key drivers shaping market growth.

Asia Pacific remains the dominant region in terms of demand and production due to the presence of major automotive manufacturing hubs and rising vehicle ownership across emerging economies.

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Competitive Landscape and Demand Hotspots

The competitive landscape includes prominent companies such as ZF Friedrichshafen AG, Nexteer Automotive, Aptiv PLC, Hyundai Mobis, and Autoliv Inc. These firms are focusing on innovation, safety features, and ergonomic designs to remain competitive.

Asia Pacific continues to lead due to its large consumer base and OEM activity, while Europe and North America show increasing demand for premium and smart steering wheels.

Regional Insights

United States - Trends and Updation

Automotive Steering Wheel Trends in the U.S.:
The U.S. market is focusing on advanced steering systems integrated with ADAS, haptic feedback, and capacitive touch functions. These features are gaining traction, especially in the premium vehicle segment.

Recent Developments:

Tesla and General Motors have adopted steering yokes and drive-by-wire steering in select models.Autoliv expanded its U.S. facility to support smart steering system production.
Asia Pacific - Growth and Opportunity

Steering Wheel Growth in Asia Pacific:

Asia Pacific holds the largest market share, driven by vehicle production in China, India, South Korea, and Japan. A shift toward electric vehicles and demand for driver-assistance technologies fuel the region's growth.

Opportunity Highlights:

Hyundai Mobis is enhancing steering technology for EVs.
Nexteer Automotive is expanding in China with software-based steering systems.
M&A Activity:

Strategic alliances between Chinese OEMs and suppliers to integrate steer-by-wire technology.

Europe - Consolidation and Innovation

Steering Wheel Consolidation in Europe:
European OEMs emphasize luxury and performance, leading to rising demand for multi-functional steering wheels. Sustainability and lightweight materials are also influencing design.

Recent Activity:

ZF Friedrichshafen AG and BMW co-developed an AI-enabled steering control interface.
R&D in flat-bottom steering wheels and adaptive input systems is rising.

Middle East and Africa - Emerging Trends

Steering Wheel Trends in MEA:
While smaller in market size, the MEA region shows promise due to growing vehicle imports and aftermarket customization trends in UAE, Saudi Arabia, and South Africa.

Recent Developments:

Rising interest in leather-wrapped and customized steering wheels.
Partnerships between GCC distributors and European component makers.

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Automotive Steering Wheel Market segmentation :

by Technology

Normal Steering Wheel
Embedded Steering Wheel

The worldwide automobile steering wheel market is divided into two segments based on technology: control embedded steering wheel and regular steering wheel. While control embedded steering wheels are likely to expand at a faster rate of CAGR% during the same period, regular steering wheels are expected to be the most prominent technology type in the global automobile market during the projection period. The demand for airbag-equipped car steering wheels to meet safety regulations is also being influenced by major steps being taken by the governments of several nations for the New Car Assessment Program.

by Wheel

Diameter Small
Medium
Large

by Application

Passenger Car
Light Commercial Vehicle
Heavy and Medium Duty Vehicles
Farm Vehicle

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Learn about the top players driving innovation in the Automotive Steering Wheel Market :

1. Autoliv Inc.
2. Takata Corporation
3. ZF TRW Automotive Holdings Corp.
4. Key Safety Systems Inc.
5. Nihon Plast Co., Ltd.
6. Tokai Rika Co.
7. Delphi
8. Max Orman Toyota
9. Alps
10.Valeo
11.Panasonic
12.Leopold Kostal
13.TOYODENSO
14.Marquardt
15.Toyoda Gosei Co Ltd.
16.TRW Sun Steering Wheels Pvt. Ltd.
17.Rane TRW
18.Joyson Safety Systems
19.Neaton Auto Products Manufacturing, Inc.
20.Hyundai Mobis Co. Ltd
21.Momo Automotive Accessories Inc.
22.Grant Products International INC
23.Moto Lita
24.Isotta
25.KKR Metal Components

Get answers to critical questions shaping the Automotive Steering Wheel Market

What is Automotive Steering Wheel ?
What is the growth rate of the Automotive Steering Wheel Market?
Which are the factors expected to drive the Automotive Steering Wheel market growth?
What is the CAGR at which the Automotive Steering Wheel market will grow during the forecast period?
What are the different segments of the Automotive Steering Wheel Market?
Which is the fastest growing region in the Automotive Steering Wheel market?
What growth strategies are the players considering to increase their presence in Automotive Steering Wheel ?
What are the upcoming opportunities and trends for the Automotive Steering Wheel Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Automotive Steering Wheel Market?
Who are the leading companies and what are their portfolios in Automotive Steering Wheel Market?
What segments are covered in the Automotive Steering Wheel Market?
Who are the key players in the Automotive Steering Wheel market?

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Get a closer look at the game-changing products driving success :

Past Size and Competitive Landscape
• Past Pricing and price curve by region
• Size, Share, Size Forecast by different segment
• Dynamics Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Segmentation A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape Profiles of selected key players by region from a strategic perspective

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