The potential growth difference for the automotive steering wheel market between 2021 and 2026 is 28.97 million units, as per the latest market analysis report by Technavio. The analysts at Technavio have categorized the global automotive steering wheel market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive steering wheel market during the forecast period. Our report provides extensive information on the value chain analysis for the automotive steering wheel market, which vendors can leverage to gain a competitive advantage during the forecast period. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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Key Market Dynamics:
- Market Driver: The increasing use of steering-mounted electronics makes wheels more intuitive and is one of the key drivers fueling the automotive steering wheel market growth. Steering wheels have been used to control various dashboard-based functionalities in automobiles in the last two decades. These functions include radio and music, cruise control, climate control, and several others, such as answering calls. Advanced steering-assisted safety technologies make the steering feel more balanced and appropriate for driving at different speeds and environments. Steering-assisted technologies such as ASR and DSR modify the steering feel according to the vehicle speed and driving conditions by reducing vehicle yaw and lateral motions. Consumers are changing their preferences to shift to low-cost, compact cars due to traffic and the tendency to quickly change their vehicles. Such a change in preference will drive market growth during the forecast period.
- Market Challenge: The development of cars without steering wheels is one of the key factors limiting the automotive steering wheel market growth. Autonomous cars operate without human intervention, which can successfully navigate around obstacles, negotiate between different types of terrains, and reach a predetermined destination without any aid from humans. Future cities are designed solely for autonomous cars, and roadways are customized to guide autonomous vehicles. Hence, the increasing number of such cities will make steering wheels redundant. The complexity of autonomous cars has encouraged companies and OEMs to pool their R&D resources to design and develop successful prototypes that constantly evolve over a period of time to improve performance. Various automobile manufacturers have entered into partnerships with technology companies to integrate certain levels of artificial intelligence (AI) in their vehicles to create autonomous vehicles. Such an increasing focus on developing automotive vehicles will limit the market growth during the forecast period.
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Key Market Segment Insights:
The automotive steering wheel market report is segmented by Application (Passenger cars and Commercial vehicles) and Geography (APAC, North America, Europe, South America, and Middle East and Africa).
Regional Opportunities: APAC will be the leading region with 57% of the market's growth during the forecast period. China, Japan, and India are the key markets for the automotive steering wheel market in APAC. Market growth in this region will be faster than the growth of the market in other regions. The low cost of vehicles due to the presence of vehicle manufacturers, coupled with the increasing per capita income of individuals across the region will facilitate the automotive steering wheel market growth in APAC over the forecast period.
Revenue-generating Segment Insights: The automotive steering wheel market share growth in the passenger cars segment will be significant during the forecast period. Passenger cars have evolved from mechanically-driven vehicles to electronic and electrically-influenced vehicles that have advanced features related to safety, security, propulsion, connectivity, and the environment. Such innovations have been introduced due to various factors such as evolving consumer expectations, intense competition between automotive OEMs, and the imposition of stringent government regulations related to safety and fuel efficiency. Thus, the use of advanced electronics in the steering wheel systems of passenger cars is expected to increase during the forecast period.
View our sample report for additional insights into segment-based contribution and regional opportunities in the report.
Some Companies Mentioned with their Offerings
- Autoliv Inc.
- GKN Automotive Ltd.
- Grant Products
- GSK InTek Co. Ltd.
- ISOTTA
- Joyson Safety Systems Aschaffenburg GmbH
- KKR Metal Components
- Moto Lita Ltd.
- MW Company LLC
- MZW Motor
- Neaton Auto Products Manufacturing Inc.
- Nexteer Automotive Group Ltd.
- Nihon Plast Co. Ltd
- Sparco Spa
- Sun Autoelektrik Pvt. Ltd.
- Tokai Rika Co. Ltd.
- Toyoda Gosei Co. Ltd.
- Yanfeng Automotive Interior Systems Co. Ltd.
- ZF Friedrichshafen AG
- Gain Access to more vendor profiles with their key offerings available with Technavio, Download Sample Now!
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Automotive Steering Wheel Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of about 5.17% |
Market growth 2022-2026 |
28.97 mn units |
Market structure |
Fragmented |
YoY growth (%) |
4.58 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 57% |
Key consumer countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Autoliv Inc., GKN Automotive Ltd., Grant Products, GSK InTek Co. Ltd., ISOTTA, Joyson Safety Systems Aschaffenburg GmbH, KKR Metal Components, Moto Lita Ltd., MW Company LLC, MZW Motor, Neaton Auto Products Manufacturing Inc., Nexteer Automotive Group Ltd., Nihon Plast Co. Ltd, Sparco Spa, Sun Autoelektrik Pvt. Ltd., Tokai Rika Co. Ltd., Toyoda Gosei Co. Ltd., Yanfeng Automotive Interior Systems Co. Ltd., and ZF Friedrichshafen AG |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 (million units)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 (million units)
- Exhibit 15: Chart on Global Market- Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market- Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Application
- 5.1 Market segments
- Exhibit 24: Chart on Application - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
- 5.2 Comparison by Application
- Exhibit 26: Chart on Comparison by Application
- Exhibit 27: Data Table on Comparison by Application
- 5.3 Passenger cars - Market size and forecast 2021-2026
- Exhibit 28: Chart on Passenger cars - Market size and forecast 2021-2026 (million units)
- Exhibit 29: Data Table on Passenger cars - Market size and forecast 2021-2026 (million units)
- Exhibit 30: Chart on Passenger cars - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Passenger cars - Year-over-year growth 2021-2026 (%)
- 5.4 Commercial vehicles - Market size and forecast 2021-2026
- Exhibit 32: Chart on Commercial vehicles - Market size and forecast 2021-2026 (million units)
- Exhibit 33: Data Table on Commercial vehicles - Market size and forecast 2021-2026 (million units)
- Exhibit 34: Chart on Commercial vehicles - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Commercial vehicles - Year-over-year growth 2021-2026 (%)
- 5.5 Market opportunity by Application
- Exhibit 36: Market opportunity by Application (million units)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 38: Chart on Market share by geography 2021-2026 (%)
- Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 40: Chart on Geographic comparison
- Exhibit 41: Data Table on Geographic comparison
- 7.3 APAC - Market size and forecast 2021-2026
- Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 (million units)
- Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 (million units)
- Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.4 North America - Market size and forecast 2021-2026
- Exhibit 46: Chart on North America - Market size and forecast 2021-2026 (million units)
- Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 (million units)
- Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.5 Europe - Market size and forecast 2021-2026
- Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 (million units)
- Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 (million units)
- Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.6 South America - Market size and forecast 2021-2026
- Exhibit 54: Chart on South America - Market size and forecast 2021-2026 (million units)
- Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 (million units)
- Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 (million units)
- Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 (million units)
- Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.8 US - Market size and forecast 2021-2026
- Exhibit 62: Chart on US - Market size and forecast 2021-2026 (million units)
- Exhibit 63: Data Table on US - Market size and forecast 2021-2026 (million units)
- Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.9 China - Market size and forecast 2021-2026
- Exhibit 66: Chart on China - Market size and forecast 2021-2026 (million units)
- Exhibit 67: Data Table on China - Market size and forecast 2021-2026 (million units)
- Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.10 Japan - Market size and forecast 2021-2026
- Exhibit 70: Chart on Japan - Market size and forecast 2021-2026 (million units)
- Exhibit 71: Data Table on Japan - Market size and forecast 2021-2026 (million units)
- Exhibit 72: Chart on Japan - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on Japan - Year-over-year growth 2021-2026 (%)
- 7.11 Germany - Market size and forecast 2021-2026
- Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 (million units)
- Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 (million units)
- Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.12 India - Market size and forecast 2021-2026
- Exhibit 78: Chart on India - Market size and forecast 2021-2026 (million units)
- Exhibit 79: Data Table on India - Market size and forecast 2021-2026 (million units)
- Exhibit 80: Chart on India - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on India - Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 82: Market opportunity by geography (million units)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 83: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 85: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 86: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 87: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 88: Matrix on vendor position and classification
- 10.3 Autoliv Inc.
- Exhibit 89: Autoliv Inc. - Overview
- Exhibit 90: Autoliv Inc. - Business segments
- Exhibit 91: Autoliv Inc. - Key news
- Exhibit 92: Autoliv Inc. - Key offerings
- Exhibit 93: Autoliv Inc. - Segment focus
- 10.4 GKN Automotive Ltd.
- Exhibit 94: GKN Automotive Ltd. - Overview
- Exhibit 95: GKN Automotive Ltd. - Product / Service
- Exhibit 96: GKN Automotive Ltd. - Key offerings
- 10.5 Grant Products
- Exhibit 97: Grant Products - Overview
- Exhibit 98: Grant Products - Product / Service
- Exhibit 99: Grant Products - Key offerings
- 10.6 GSK InTek Co. Ltd.
- Exhibit 100: GSK InTek Co. Ltd. - Overview
- Exhibit 101: GSK InTek Co. Ltd. - Product / Service
- Exhibit 102: GSK InTek Co. Ltd. - Key offerings
- 10.7 Joyson Safety Systems Aschaffenburg GmbH
- Exhibit 103: Joyson Safety Systems Aschaffenburg GmbH - Overview
- Exhibit 104: Joyson Safety Systems Aschaffenburg GmbH - Product / Service
- Exhibit 105: Joyson Safety Systems Aschaffenburg GmbH - Key offerings
- 10.8 Nexteer Automotive Group Ltd.
- Exhibit 106: Nexteer Automotive Group Ltd. - Overview
- Exhibit 107: Nexteer Automotive Group Ltd. - Business segments
- Exhibit 108: Nexteer Automotive Group Ltd. - Key news
- Exhibit 109: Nexteer Automotive Group Ltd. - Key offerings
- Exhibit 110: Nexteer Automotive Group Ltd. - Segment focus
- 10.9 Nihon Plast Co. Ltd
- Exhibit 111: Nihon Plast Co. Ltd - Overview
- Exhibit 112: Nihon Plast Co. Ltd - Business segments
- Exhibit 113: Nihon Plast Co. Ltd - Key offerings
- Exhibit 114: Nihon Plast Co. Ltd - Segment focus
- 10.10 Tokai Rika Co. Ltd.
- Exhibit 115: Tokai Rika Co. Ltd. - Overview
- Exhibit 116: Tokai Rika Co. Ltd. - Product / Service
- Exhibit 117: Tokai Rika Co. Ltd. - Key offerings
- 10.11 Toyoda Gosei Co. Ltd.
- Exhibit 118: Toyoda Gosei Co. Ltd. - Overview
- Exhibit 119: Toyoda Gosei Co. Ltd. - Business segments
- Exhibit 120: Toyoda Gosei Co. Ltd. - Key news
- Exhibit 121: Toyoda Gosei Co. Ltd. - Key offerings
- Exhibit 122: Toyoda Gosei Co. Ltd. - Segment focus
- 10.12 ZF Friedrichshafen AG
- Exhibit 123: ZF Friedrichshafen AG - Overview
- Exhibit 124: ZF Friedrichshafen AG - Business segments
- Exhibit 125: ZF Friedrichshafen AG - Key news
- Exhibit 126: ZF Friedrichshafen AG - Key offerings
- Exhibit 127: ZF Friedrichshafen AG - Segment focus
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 128: Inclusions checklist
- Exhibit 129: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 130: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 131: Research methodology
- Exhibit 132: Validation techniques employed for market sizing
- Exhibit 133: Information sources
- 11.5 List of abbreviations
- Exhibit 134: List of abbreviations
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