The global market for Automotive Steering Wheel was valued at US$28.5 Billion in 2024 and is projected to reach US$37.9 Billion by 2030, growing at a CAGR of 4.9% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Advancements in automotive technology have significantly influenced the evolution of steering wheels. The integration of airbags has been a pivotal safety enhancement, and modern designs often include advanced features like heating elements, paddle shifters for manual control over automatic transmissions, and haptic feedback systems that alert drivers through vibrations. As autonomous driving technologies continue to develop, the role of the steering wheel is also evolving with concepts that can retract into the dashboard when not in use, providing more space and versatility in the vehicle’s cabin layout. These innovations enhance both the safety and comfort of the driver and passengers, reflecting broader trends in automotive design toward smarter, more responsive vehicles.
The growth in the automotive steering wheel market is driven by several factors, including technological advancements, consumer demand for enhanced driving experiences, and stringent safety regulations. The incorporation of new technology such as touch-sensitive controls and biometric sensors in steering wheels are examples of how manufacturers are adapting to the increasing demand for smarter, more interactive car features. These technologies not only improve user experience but also bolster safety. Furthermore, as global safety standards become more rigorous, the pressure increases on manufacturers to integrate essential safety features effectively. Additionally, consumer preferences for premium materials and customizability in car interiors have led to diversified product offerings. These factors, combined with the overall growth in vehicle production and sales worldwide, ensure robust demand for innovative steering wheels across the automotive industry.
Automotive Steering Wheel Market - Key Trends and Drivers
The automotive steering wheel is the primary interface between the driver and the vehicle, enabling control over the direction of movement. This component is not only crucial for maneuvering but also serves as a hub for functionality and safety features. Modern steering wheels are equipped with various controls for entertainment, communication, and system monitoring, reducing the need for drivers to take their hands off the wheel. Beyond functionality, steering wheels are a focal point for interior aesthetics and comfort, with designs that can include a range of materials from luxurious leather to sustainable alternatives.Advancements in automotive technology have significantly influenced the evolution of steering wheels. The integration of airbags has been a pivotal safety enhancement, and modern designs often include advanced features like heating elements, paddle shifters for manual control over automatic transmissions, and haptic feedback systems that alert drivers through vibrations. As autonomous driving technologies continue to develop, the role of the steering wheel is also evolving with concepts that can retract into the dashboard when not in use, providing more space and versatility in the vehicle’s cabin layout. These innovations enhance both the safety and comfort of the driver and passengers, reflecting broader trends in automotive design toward smarter, more responsive vehicles.
The growth in the automotive steering wheel market is driven by several factors, including technological advancements, consumer demand for enhanced driving experiences, and stringent safety regulations. The incorporation of new technology such as touch-sensitive controls and biometric sensors in steering wheels are examples of how manufacturers are adapting to the increasing demand for smarter, more interactive car features. These technologies not only improve user experience but also bolster safety. Furthermore, as global safety standards become more rigorous, the pressure increases on manufacturers to integrate essential safety features effectively. Additionally, consumer preferences for premium materials and customizability in car interiors have led to diversified product offerings. These factors, combined with the overall growth in vehicle production and sales worldwide, ensure robust demand for innovative steering wheels across the automotive industry.
Report Scope
The report analyzes the Automotive Steering Wheel market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.Segments
Technology (Embedded Control Steering, Conventional Steering); Application (Passenger Cars Application, Commercial Vehicles Application).Geographic Regions/Countries
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.Key Insights:
- Market Growth: Understand the significant growth trajectory of the Embedded Control Steering segment, which is expected to reach US$25.8 Billion by 2030 with a CAGR of a 5.3%. The Conventional Steering segment is also set to grow at 4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $7.7 Billion in 2024, and China, forecasted to grow at an impressive 8.1% CAGR to reach $7.9 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Autoliv Inc., Grant Products International, Inc., Joyson Safety Systems Aschaffenburg GmbH, KKR Metal Components, Marquardt Management SE and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Automotive Steering Wheel Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Automotive Steering Wheel Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Automotive Steering Wheel Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Some of the 36 major companies featured in this Automotive Steering Wheel market report include:
- Autoliv Inc.
- Grant Products International, Inc.
- Joyson Safety Systems Aschaffenburg GmbH
- KKR Metal Components
- Marquardt Management SE
- MOMO Motorsport
- Moto-Lita Ltd
- Neaton Auto Products Manufacturing, Inc.
- Nihon Plast Co., Ltd.
- Shine Way Auto Parts (Guangzhou) Co., Ltd.
- Sparco Motor Sports, Inc. (Sparco USA)
- Tokai Rika Co., Ltd.
- Toyoda Gosei Co., Ltd.
- Valeo Group
- ZF Friedrichshafen AG
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISSOUTH KOREAREST OF ASIA-PACIFICARGENTINABRAZILMEXICOREST OF LATIN AMERICAIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
LATIN AMERICA
MIDDLE EAST
AFRICA
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Autoliv Inc.
- Grant Products International, Inc.
- Joyson Safety Systems Aschaffenburg GmbH
- KKR Metal Components
- Marquardt Management SE
- MOMO Motorsport
- Moto-Lita Ltd
- Neaton Auto Products Manufacturing, Inc.
- Nihon Plast Co., Ltd.
- Shine Way Auto Parts (Guangzhou) Co., Ltd.
- Sparco Motor Sports, Inc. (Sparco USA)
- Tokai Rika Co., Ltd.
- Toyoda Gosei Co., Ltd.
- Valeo Group
- ZF Friedrichshafen AG
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 267 |
| Published | February 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 28.5 Billion |
| Forecasted Market Value ( USD | $ 37.9 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
