Overview of the Global Automotive Steering Wheel Market:
Gain data-driven insights into the Global Automotive Steering Wheel Market Size, trends, and forecasts. This in-depth report delivers expert analysis of market drivers, segmentation, and emerging opportunities. It highlights key metrics and actionable findings in a professional, easy-to-scan format. Key statistics (market size, growth rates, share by segment) are presented up-front in bullet form for immediate impact.
Executive Summary
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).
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.
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Automotive Steering Wheel Market Segmentation
Break down the market by key categories and geography. We outline major segments and provide size/share estimates for each.
-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.
-By Sales Channel
- Original Equipment Manufacturer (OEM)
- Aftermarket
Out of them, the Original Equipment Manufacturer (OEM) segment dominates the market. It holds approximately 80% share of the total market value globally.
-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)
Geographical Analysis
-By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Out of them, Asia-Pacific leads the Global Automotive Steering Wheel Market. It holds approximately 30% market share of the entire industry.
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Competitive Market Strategies: List of Largest Automotive Steering Wheel Companies
Analysis of the competitive landscape and company strategies. We profile leading players Business Description, Product Portfolio, Recent Developments, and list key Strategic Alliances or Partnerships approaches.
Mitsubishi Tanabe Pharma Corporation (Mitsubishi Chemical Group Corporation)
- 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.
- Others
Future Market Analytics Focus Points
Look ahead to the analytics and trends shaping the industry’s future. This section suggests areas of emphasis for market analysis, such as:
- Identify Emerging Market Trends: Recognize new trends shaping industries.
- Leverage Big Data Analytics: Use data for informed decision-making strategies.
- Explore Geographic Expansion: Target growth opportunities in new areas.
- Analyze Consumer Behavior: Adapt to shifting preferences and habits.
- Emphasize Sustainability: Align strategies with ethical and sustainable practices.
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Objectives of the Study
Clearly state what the report aims to achieve. For example:
- Provide a comprehensive market overview with quantitative forecasts.
- Identify key market segments and competitive dynamics.
- Analyze trends and drivers influencing growth.
- Highlight challenges and risks, plus mitigation strategies.
- Offer actionable insights and recommendations for decision-makers.
Report Delivery Model
“Our market research report is available in multiple formats for convenience:
- Interactive PDF with rich charts and data tables.
- PowerPoint summary deck for easy presentation and sharing.
- Excel containing all research figure.
About Us –
MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.
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