- Normal Steering Wheel
- Control Embedded Steering Wheel
- Passenger Car
- LCV
- HCV
- Toyoda Gosei Co Ltd.
- TRW Sun Steering Wheels Pvt. Ltd.
- Autoliv
- Rane TRW
- Takata Corporation
- Emdet Engineer
- KSS Abhishek
-
North America
- U.S.A
- Canada
- Europe
- France
- Germany
- Spain
- UK
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South East Asia
- Latin America
- Brazil
- Middle East and Africa
- Market Forecast for 2024-2030
- Market growth drivers
- Challenges and Opportunities
- Emerging and Current market trends
- Market player Capacity, Production, Revenue (Value)
- Supply (Production), Consumption, Export, Import analysis
- End user/application Analysis
Automotive Steering Wheel Market Analysis & Forecast 2024-2030
Automotive Steering Wheel Market by Product (Polyurethane Steering Wheel, Leather Steering Wheel, Wooden Steering Wheel ) by Application (Passenger Car, LCV, HCV, Farm Vehicle ) by Industry Analysis, Volume, Share, Growth, Challenges, Trends and Forecast 2024-2030, Regional Outlook ( North America, Europe, Asia-Pacific, Middle-East, Africa)
Global Automotive Steering Wheel Market is expected to reach USD 7682.77 million by 2031 with CAGR of 5 % between 2025 and 2031
The steering system works on the principle of converting the rotation of the steering wheel into a swivelling movement of the road wheels in such a way that the steering-wheel rim turns a long way to move the road wheels a short way. Power steering uses a hydraulic pump which enables a small amount of fluid to be under pressure. Steering mechanism uses this pressure in directing the tires as you turn the steering wheel. The power steering system typically includes a pump, power steering fluid, a pressure hose assembly, a control valve and a return line. The power steering system of vehicle is primarily maintained by regularly checking the power steering fluid level and condition as low fluid runs level can cause damage to some of the components of the steering system.
Steering Wheel is an essential vehicle component that is used with strategic movements of hand and wrist to control vehicle movement. Being an oldest product, it has a strong position in automobile industry. With growing technical advancement, rising investment on cars and rising demand for safety equipped vehicle has fuelled the demand for automotive steering wheel market.
The North America region is expected to be the largest automotive steering wheel market during the forecast period by value followed by Asia Pacific and Europe. With leading-edge automotive component technology and increasing demand for advanced steering wheel designs, North America is estimated to account for a relatively larger share of the global market over the forecast period. Asia Pacific is expected to witness the fastest growth during the forecast period as India and China are major contributors in automotive steering wheel market with rise in locomotive industry, increasing population and urbanization, and rise in disposable income are the factors boosting demand in the region.
Automotive Steering Wheel Market Report: Product Type
Automotive Steering Wheel Market Report: Application
Automotive Steering Wheel Market: Company Analysis
Geographical analysis of Automotive Steering Wheel Market:
Global Automotive Steering Wheel Market Report delivers a comprehensive analysis of the following parameters:
Report Coverage
| Parameters | Details |
|---|---|
Base Year |
2024 |
Historical Data |
2018-2023 |
Forecast Data |
2024-2030 |
Base Year Value (2024) |
USD 5460.00 million |
Forecast Value (2031) |
USD 7682.77 million |
CAGR (2025-2030) |
5 % |
Regional Scope |
North America, Europe, Asian Pacific, Latin America, Middle East and Africa, and ROW |
Frequently Asked Questions (FAQ)
Automotive Steering Wheel Market was valued at around USD 5460.00 million in 2023 & estimated to reach USD 7682.77 million by 2030.
Automotive Steering Wheel Market is likely to grow at Compound Annual Growth Rate (CAGR) of 5% between 2024 to 2030.
Automotive Steering Wheel Market is dominated by the Control Embedded Steering Wheel segment and the Asia-Pacific region holds the highest market share in 2023.
Some of the top key players in the Automotive Steering Wheel Market are Toyoda Gosei Co Ltd., TRW Sun Steering Wheels Pvt. Ltd., Autoliv, Rane TRW, Takata Corporation, Emdet Engineer, KSS Abhishek.
Primary driving factors for the growth of the Automotive Steering Wheel Market include Growing technical advancement, rising investment on cars and rising demand for safety equipped vehicles.
Yes, the report includes COVID 19 impact on the market.
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