The Automotive Steering Wheel market is an extensive market research report which provides industry analysis with a historical & futuristic outlook for the following parameters; market size, revenue, demand, and supply data. The report consists of SWOT, PESTEL, and Porter’s 5-forces analysis frameworks. The report comprises detailed information on the market drivers, key trends and challenges, a deep examination of technology trends, opportunities, value chains, future roadmaps, and strategies. The updated Market report provides insights, analysis, estimations, and forecasts, considering the COVID-19 impact on the market.
Automotive Steering Wheel Market is projected to grow at a CAGR of 7.89% and exhibit steady growth during the forecast period (2023-2029).
The top Leading Companies of the Automotive Steering Wheel Market are: Toyoda Gosei, Autoliv, ZF Friedrichshafen AG, Yanfeng, Joyson Safety Systems, GSK InTek Co., Ltd., Tokai Rika, Neaton Auto Products Manufacturing, Inc., Fang Le, Sparco S.P.A, Shanghai Daimay Automotive Interior Co., Ltd, Grant Products
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Jan 19, 2023 Cosworth launches sim racing steering wheel– Motorsport and road car engineering giant Cosworth has unveiled its CCW MkII Pro Sim steering wheel, based on the same design and construction as its real-world models.
Scooter with steering wheel and fire exhaust? Watch how this crazy modification from Punjab is winning internet!- The Tesla Model S and Model X are once again available with a regular steering wheel. A yoke is still offered, but a steering wheel (pictured above)—now with capacitive buttons versus stalks—returns as a no-cost option.
Jan 10, 2023 Tesla Introduces Round Steering Wheel Option– After a number of car owners complained about difficulties in getting used to the yoke butterfly steering wheel, Tesla (NASDAQGS:TSLA -1.25%) has now quietly introduced an option for a standard round steering wheel for its Model X and Model S cars. Problems voiced by some in the community regarding the yoke include an awkward feeling at the wheel and difficulty in regaining control after slips on the road.
December 21, 2022 Toyoda Gosei launches sumptuous faux leather steering wheel to be used on Lexus RX– Toyoda Gosei Co., Ltd. has developed a luxurious faux leather steering wheel for users who prefer leather-free products that do not use real animal leather. Needs for such products are rising out of concerns for animal welfare and the environment. Toyoda Gosei’s new faux leather steering wheels will first be used in a leather-free package for Toyota Motor Corporation’s Lexus RX.
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Moreover, the inclusive research study on the market is considered keeping in mind that each segment is individually assessed and then assembled to form the entire market, the study can be customized to meet your precise requirements.
Regional Analysis
An automotive steering system is a collection of parts that enable the driver navigate the car as needed and regulate the direction of the vehicle’s motion. The vehicle steering system component includes the hand-operated steering wheel, steering column, universal joints, and rack & pinion mechanism. The transition from manual steering to power assist steering was made as a result of the development. The automotive steering system is an essential part of cars since it is regarded as non-replaceable and is responsible for efficient control. Due to the necessity of having a steering system in cars, the market for automotive steering systems is quite competitive.
The Asia Pacific dominated the automotive steering wheel market across the globe, followed by Europe and North America. Additionally, with rapid urbanization in countries such as India, China, ASEAN Countries, the demand for passenger cars has been rapidly increasing, in turn boosting the demand for the steering wheel in the automotive industry.
Asia-Pacific region also accounts for the largest share as their owing to the availability of low-cost raw materials, cheap labor, increasing government initiatives towards local manufacturing, and free trade agreements with other countries. Moreover, some factors such as easy availability of credit and low unemployment rate are the major factors rising demand for cars in this region, leading to increasing demand for automotive steering wheels, which in turn is expected to drive the growth of the global market.
Automotive Steering Wheel Market Segmentation:
Market Segmentation by Product Type
Plastics Steering Wheel
Leather Steering Wheel
Wooden Steering Wheel
Crucial Applications of the Market are:
Passenger Cars
Light Commercial Vehicles
Heavy Trucks
Buses & Coaches
Others
Market Regional Analysis (regional production, demand and country forecast):
North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) and more.
Detailed TOC of Global Automotive Steering Wheel Market 2023 by Company, Regions, Type, and Application, Forecast to 2029
Chapter 1 Automotive Steering Wheel Market Overview
Chapter 2 Automotive Steering Wheel Market competition, Overview/Analysis, Strategies
Chapter 3 Market capacity, Production, Revenue (Value) by Regions (2023-2029)
Chapter 4 Automotive Steering Wheel Market Supply (Production), Consumption, Export, Import (2023-2029)
Chapter 5 Global Automotive Steering Wheel Market Regional Highlights
Chapter 6 Industry Chain, Sourcing Strategies and Downstream Buyers
Chapter 7 Marketing Strategy Analysis, Distributors/Traders
Chapter 8 Analysis of Market Influence Factors
Chapter 9 Market Decisions in Current Scenarios
Chapter 10 Global Automotive Steering Wheel Market Forecast (2023-2029)
Chapter 11 Case Studies
Chapter 12 Research Findings and Conclusions
Key questions answered by this report
- What is the growth potential of the Automotive Steering Wheel market?
- Which product segment will take the lion’s share?
- Which regional market will develop as a pioneer in the coming years?
- Which application segment will experience strong growth?
- What growth opportunities might arise in the industry in the years to come?
- What are the most significant challenges that the Automotive Steering Wheel market could face in the future?
- Who are the leading companies in the Automotive Steering Wheel market?
- What are the leading trends that are completely impacting the growth of the market?
- What growth strategies are the players considering to stay in the Automotive Steering Wheel market?
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Conclusion: At the end of the Automotive Steering Wheel Market report, all findings and estimates are presented. It also includes key drivers and opportunities and regional analysis. The Segmental analysis is also provided in terms of type and application.
“Russia-Ukraine War Impact 2023: Economic Sanctions Imposed by the United States & its Allies on the Russian Federation Negatively Affected the market
The economic sanctions imposed by the U.S. and its allies on the Russian Federation are expected to affect this industry’s growth. Furthermore, the war negatively affected the global industries leading to import and export flow disruptions. The dominance of Russia and roscosmos, a quasi-civilian space agency in the commercial space, affected alternative launch service providers in India, Japan, Europe, and the U.S. These factors negatively affected the market during the war.”
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