Automotive Steering Wheel Market Global Overview and Insights:
According to MarkNtel Advisors Report, the Global Automotive Steering Wheel Market size was valued at around USD 37.5 billion in 2024 and is projected to reach USD 45 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 3.1% during the forecast period (2025-30). Automotive Steering Wheel Market research is an ongoing process. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
Time Period Captured in the Report:
Historical Years: 2020-23
Base Years: 2024
Forecast Years: 2025-30
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Global Automotive Steering Wheel Market Trend:
Integration with Advanced Driver Assistance System – Advanced Driver Assistance Systems (ADAS)-equipped steering wheels with lane-keeping assistance, adaptive cruise control, and emergency braking are gaining popularity amongst consumers. As of the 2023 model year, 10 out of the 14 features using ADAS in automotive parts including the steering wheel had surpassed 50% market penetration making it a significant trend in the market. Technological developments of this kind will positively alter the market dynamics and give producers several opportunities to meet the constantly rising demand. Automakers around the globe are accelerating the integration of ADAS with advanced steering wheel technologies in their vehicle models to meet the consumer demand for a safe driving experience.
Who are the Key Players Operating in the Automotive Steering Wheel Industry?
The top companies of the Automotive Steering Wheel market ruling the industry are:
- Hyundai Mobis Co. Ltd.
- JTEKT Corporation
- Nexteer Automotive Group Ltd.
- Showa Corp.
- ThyssenKrupp AG
- Hitachi Automotive System Ltd.
- Robert Bosch GmbH
- NSK Steering System Co. Ltd.
- Mando Corp.
- ZF Friedrichshafen AG
- ATS Automation Tooling System Inc.
- Mitsubishi Electric Corporation
- Autoliv Inc
- China Automotive Systems, Inc.
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What is Included in Automotive Steering Wheel Market Segmentation?
The report has segmented the market into the following categories:
-By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
- Electric Vehicles
Out of them passenger vehicles dominate the Global Automotive Steering Wheel Market. It holds approx. 69% share of the total market. Passenger cars including luxury cars, SUVs, hatchbacks, and sedans account for a sizable portion of all vehicles produced globally which helps to explain their high market share in the global automotive steering wheel industry. Due to the high volume of passenger cars produced each year the Original Equipment Manufacturer (OEM) segment has a sizable demand for steering wheels and their components. The diversity in vehicle types and sizes in passenger vehicles broadens the application of steering vehicle technology tailored to their specific needs, performance, and handling characteristics.
-By Product Type
- Magnesium Steering Wheel- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Aluminum Steering Wheel (Landscaping)- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Steel Steering Wheel- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Others
-By Technology Type
- Electronic Steering-Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Hydraulic Steering-Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Manual Steering-Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Electro-Hydraulic Steering-Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Others – Market Size & Forecast 2020-2030, Units Sold (Thousands)
-By Wheel Type
- Small Wheel Type- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Medium Wheel Type- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Large Wheel Type- Market Size & Forecast 2020-2030, Units Sold (Thousands)
-By Sales Channel
- OEM- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Aftermarket- Market Size & Forecast 2020-2030, Units Sold (Thousands)
Geographical Analysis:
-By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
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