Product Code: PMRREP16984
Persistence Market Research has recently released a comprehensive report on the global Automotive Steering Wheel Market, offering an in-depth analysis of key market dynamics, including growth drivers, emerging trends, challenges, and opportunities. This report serves as a strategic guide for stakeholders to make informed business decisions in a rapidly evolving market landscape.
Key Insights:
- Automotive Steering Wheel Market Size (2025E): US$ 32.3 Bn
- Projected Market Value (2032F): US$ 57.9 Bn
- Global Market Growth Rate (CAGR 2025 to 2032): 8.7%
Automotive Steering Wheel Market - Report Scope:
The automotive steering wheel market includes a variety of steering wheel designs and technologies, ranging from traditional mechanical designs to control-embedded, multifunctional systems. With modern vehicles increasingly featuring advanced driver-assistance systems (ADAS), integrated controls for infotainment and safety, and enhanced ergonomics, the demand for high-performance steering wheel solutions is on the rise. Automotive manufacturers are focusing on design innovation and lightweight materials such as magnesium and aluminum to improve fuel efficiency and safety.
Market Growth Drivers:
The global automotive steering wheel market is driven by the growing consumer demand for technologically advanced and ergonomically designed vehicles. The integration of smart functionalities like haptic feedback, touch-sensitive controls, and heating elements is significantly boosting market demand. Furthermore, the rise in vehicle production, particularly electric vehicles (EVs) and hybrid models, has led to increased incorporation of multifunctional steering wheels. The adoption of advanced safety features mandated by regulatory bodies is another critical growth factor.
Market Restraints:
Despite promising prospects, the market faces certain limitations. The high cost of manufacturing advanced steering wheel systems may restrict their adoption, especially in budget vehicles or emerging markets. Additionally, complex electronics integrated into steering wheels may lead to increased maintenance or repair costs. Fluctuations in raw material prices also pose a challenge to consistent profitability for manufacturers.
Market Opportunities:
The market presents robust opportunities, particularly with the shift toward autonomous and electric vehicles. These vehicle segments demand innovative steering wheel solutions compatible with semi-autonomous driving technologies and driver-monitoring systems. Expanding vehicle ownership in emerging markets and ongoing R&D investment by OEMs and suppliers create further avenues for growth. Collaborations between Tier 1 suppliers and automakers for custom steering system integration are also opening new market frontiers.
Key Questions Answered in the Report:
- What are the primary factors driving the global automotive steering wheel market's growth?
- Which regions and market segments are experiencing the highest demand for automotive steering wheels?
- How are innovations in steering wheel technologies influencing vehicle design and functionality?
- Who are the key players in the automotive steering wheel market, and what strategies are they adopting to stay competitive?
- What are the emerging trends and future projections for the global automotive steering wheel market?
Competitive Intelligence and Business Strategy:
Leading companies in the automotive steering wheel market, such as JTEKT Corporation, ZF Friedrichshafen AG, and Nexteer Corporation, are actively pursuing innovations in lightweight materials, integrated control systems, and customizable designs. Strategic alliances with OEMs, investment in R&D, and expansion into high-growth regions like Asia-Pacific are key approaches being adopted. Focus on steering wheels compatible with ADAS and autonomous driving functionalities further enhances their market positioning.
Companies Covered in This Report:
- JTEKT Corporation
- Toyoda Gosei Co. Ltd
- Autoliv Inc
- ZF Friedrichshafen AG
- Hyundai Mobis Co. Ltd
- GKN Automotive
- Nihon Plast Co. Ltd
- Ningbo Joyson Electronics Co. Ltd
- Nexteer Corporation
- Robert Bosch
Market Segmentation
By Sales Channel
By Product Type
- Magnesium Steering Wheel
- Aluminum Steering Wheel
- Steel Steering Wheel
- Others
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
- Electric Vehicles
By Technology
By Region
- North America
- Europe
- East Asia
- South Asia and Oceania
- Middle East and Africa
- Latin America
Table of Contents
1. Executive Summary
- 1.1. Global Automotive Steering Wheel Market Snapshot 2025 and 2032
- 1.2. Market Opportunity Assessment, 2025-2032, US$ Bn
- 1.3. Key Market Trends
- 1.4. Industry Developments and Key Market Events
- 1.5. Demand Side and Supply Side Analysis
- 1.6. PMR Analysis and Recommendations
2. Market Overview
- 2.1. Market Scope and Definitions
- 2.2. Value Chain Analysis
- 2.3. Macro-Economic Factors
- 2.3.1. Global GDP Outlook
- 2.3.2. Global Automotive Industry Overview
- 2.3.3. Global Car Sales Overview
- 2.4. Forecast Factors - Relevance and Impact
- 2.5. COVID-19 Impact Assessment
- 2.6. PESTLE Analysis
- 2.7. Porter's Five Forces Analysis
- 2.8. Geopolitical Tensions: Market Impact
- 2.9. Regulatory and Technology Landscape
3. Market Dynamics
- 3.1. Drivers
- 3.2. Restraints
- 3.3. Opportunities
- 3.4. Trends
4. Price Trend Analysis, 2019-2032
- 4.1. Region-wise Price Analysis
- 4.2. Price by Segments
- 4.3. Price Impact Factors
5. Global Automotive Steering Wheel Market Outlook: Historical (2019-2024) and Forecast (2025-2032)
- 5.1. Key Highlights
- 5.2. Global Automotive Steering Wheel Market Outlook: Product Type
- 5.2.1. Introduction/Key Findings
- 5.2.2. Historical Market Size (US$ Bn) and Volume (Units) Analysis by Product Type, 2019-2024
- 5.2.3. Current Market Size (US$ Bn) and Volume (Units) Forecast, by Product Type, 2025-2032
- 5.2.3.1. Magnesium Steering Wheel
- 5.2.3.2. Aluminum Steering Wheel
- 5.2.3.3. Steel Steering Wheel
- 5.2.3.4. Others
- 5.2.4. Market Attractiveness Analysis: Product Type
- 5.3. Global Automotive Steering Wheel Market Outlook: Vehicle Type
- 5.3.1. Introduction/Key Findings
- 5.3.2. Historical Market Size (US$ Bn) and Volume (Units) Analysis by Vehicle Type, 2019-2024
- 5.3.3. Current Market Size (US$ Bn) and Volume (Units) Forecast, by Vehicle Type, 2025-2032
- 5.3.3.1. Passenger Vehicle
- 5.3.3.1.1. Compact
- 5.3.3.1.2. Hatchback
- 5.3.3.1.3. Sedan
- 5.3.3.1.4. SUVs
- 5.3.3.2. Commercial Vehicle
- 5.3.3.3. Electric Vehicles
- 5.3.4. Market Attractiveness Analysis: Vehicle Type
- 5.4. Global Automotive Steering Wheel Market Outlook: Technology
- 5.4.1. Introduction/Key Findings
- 5.4.2. Historical Market Size (US$ Bn) and Volume (Units) Analysis by Technology , 2019-2024
- 5.4.3. Current Market Size (US$ Bn) and Volume (Units) Forecast, by Technology , 2025-2032
- 5.4.3.1. Normal
- 5.4.3.2. Control Embedded
- 5.4.4. Market Attractiveness Analysis: Technology
- 5.5. Global Automotive Steering Wheel Market Outlook: Sales Channel
- 5.5.1. Introduction/Key Findings
- 5.5.2. Historical Market Size (US$ Bn) and Volume (Units) Analysis by Sales Channel, 2019-2024
- 5.5.3. Current Market Size (US$ Bn) and Volume (Units) Forecast, by Sales Channel, 2025-2032
- 5.5.3.1. OEM
- 5.5.3.2. Aftermarket
- 5.5.4. Market Attractiveness Analysis: Sales Channel
6. Global Automotive Steering Wheel Market Outlook: Region
- 6.1. Key Highlights
- 6.2. Historical Market Size (US$ Bn) and Volume (Units) Analysis by Region, 2019-2024
- 6.3. Current Market Size (US$ Bn) and Volume (Units) Forecast, by Region, 2025-2032
- 6.3.1. North America
- 6.3.2. Europe
- 6.3.3. East Asia
- 6.3.4. South Asia & Oceania
- 6.3.5. Latin America
- 6.3.6. Middle East & Africa
- 6.4. Market Attractiveness Analysis: Region
7. North America Automotive Steering Wheel Market Outlook: Historical (2019-2024) and Forecast (2025-2032)
- 7.1. Key Highlights
- 7.2. Pricing Analysis
- 7.3. North America Market Size (US$ Bn) and Volume (Units) Forecast, by Country, 2025-2032
- 7.3.1. U.S.
- 7.3.2. Canada
- 7.4. North America Market Size (US$ Bn) and Volume (Units) Forecast, by Product Type, 2025-2032
- 7.4.1. Magnesium Steering Wheel
- 7.4.2. Aluminum Steering Wheel
- 7.4.3. Steel Steering Wheel
- 7.4.4. Others
- 7.5. North America Market Size (US$ Bn) and Volume (Units) Forecast, by Vehicle Type, 2025-2032
- 7.5.1. Passenger Vehicle
- 7.5.1.1. Compact
- 7.5.1.2. Hatchback
- 7.5.1.3. Sedan
- 7.5.1.4. SUVs
- 7.5.2. Commercial Vehicle
- 7.5.3. Electric Vehicles
- 7.6. North America Market Size (US$ Bn) and Volume (Units) Forecast, by Technology , 2025-2032
- 7.6.1. Normal
- 7.6.2. Control Embedded
- 7.7. North America Market Size (US$ Bn) and Volume (Units) Forecast, by Sales Channel, 2025-2032
- 7.7.1. OEM
- 7.7.2. Aftermarket
8. Europe Automotive Steering Wheel Market Outlook: Historical (2019-2024) and Forecast (2025-2032)
- 8.1. Key Highlights
- 8.2. Pricing Analysis
- 8.3. Europe Market Size (US$ Bn) and Volume (Units) Forecast, by Country, 2025-2032
- 8.3.1. Germany
- 8.3.2. Italy
- 8.3.3. France
- 8.3.4. U.K.
- 8.3.5. Spain
- 8.3.6. Russia
- 8.3.7. Rest of Europe
- 8.4. Europe Market Size (US$ Bn) and Volume (Units) Forecast, by Product Type, 2025-2032
- 8.4.1. Magnesium Steering Wheel
- 8.4.2. Aluminum Steering Wheel
- 8.4.3. Steel Steering Wheel
- 8.4.4. Others
- 8.5. Europe Market Size (US$ Bn) and Volume (Units) Forecast, by Vehicle Type, 2025-2032
- 8.5.1. Passenger Vehicle
- 8.5.1.1. Compact
- 8.5.1.2. Hatchback
- 8.5.1.3. Sedan
- 8.5.1.4. SUVs
- 8.5.2. Commercial Vehicle
- 8.5.3. Electric Vehicles
- 8.6. Europe Market Size (US$ Bn) and Volume (Units) Forecast, by Technology , 2025-2032
- 8.6.1. Normal
- 8.6.2. Control Embedded
- 8.7. Europe Market Size (US$ Bn) and Volume (Units) Forecast, by Sales Channel, 2025-2032
- 8.7.1. OEM
- 8.7.2. Aftermarket
9. East Asia Automotive Steering Wheel Market Outlook: Historical (2019-2024) and Forecast (2025-2032)
- 9.1. Key Highlights
- 9.2. Pricing Analysis
- 9.3. East Asia Market Size (US$ Bn) and Volume (Units) Forecast, by Country, 2025-2032
- 9.3.1. China
- 9.3.2. Japan
- 9.3.3. South Korea
- 9.4. East Asia Market Size (US$ Bn) and Volume (Units) Forecast, by Product Type, 2025-2032
- 9.4.1. Magnesium Steering Wheel
- 9.4.2. Aluminum Steering Wheel
- 9.4.3. Steel Steering Wheel
- 9.4.4. Others
- 9.5. East Asia Market Size (US$ Bn) and Volume (Units) Forecast, by Vehicle Type, 2025-2032
- 9.5.1. Passenger Vehicle
- 9.5.1.1. Compact
- 9.5.1.2. Hatchback
- 9.5.1.3. Sedan
- 9.5.1.4. SUVs
- 9.5.2. Commercial Vehicle
- 9.5.3. Electric Vehicles
- 9.6. East Asia Market Size (US$ Bn) and Volume (Units) Forecast, by Technology , 2025-2032
- 9.6.1. Normal
- 9.6.2. Control Embedded
- 9.7. East Asia Market Size (US$ Bn) and Volume (Units) Forecast, by Sales Channel, 2025-2032
- 9.7.1. OEM
- 9.7.2. Aftermarket
10. South Asia & Oceania Automotive Steering Wheel Market Outlook: Historical (2019-2024) and Forecast (2025-2032)
- 10.1. Key Highlights
- 10.2. Pricing Analysis
- 10.3. South Asia & Oceania Market Size (US$ Bn) and Volume (Units) Forecast, by Country, 2025-2032
- 10.3.1. India
- 10.3.2. Southeast Asia
- 10.3.3. ANZ
- 10.3.4. Rest of SAO
- 10.4. South Asia & Oceania Market Size (US$ Bn) and Volume (Units) Forecast, by Product Type, 2025-2032
- 10.4.1. Magnesium Steering Wheel
- 10.4.2. Aluminum Steering Wheel
- 10.4.3. Steel Steering Wheel
- 10.4.4. Others
- 10.5. South Asia & Oceania Market Size (US$ Bn) and Volume (Units) Forecast, by Vehicle Type, 2025-2032
- 10.5.1. Passenger Vehicle
- 10.5.1.1. Compact
- 10.5.1.2. Hatchback
- 10.5.1.3. Sedan
- 10.5.1.4. SUVs
- 10.5.2. Commercial Vehicle
- 10.5.3. Electric Vehicles
- 10.6. South Asia & Oceania Market Size (US$ Bn) and Volume (Units) Forecast, by Technology , 2025-2032
- 10.6.1. Normal
- 10.6.2. Control Embedded
- 10.7. South Asia & Oceania Market Size (US$ Bn) and Volume (Units) Forecast, by Sales Channel, 2025-2032
- 10.7.1. OEM
- 10.7.2. Aftermarket
11. Latin America Automotive Steering Wheel Market Outlook: Historical (2019-2024) and Forecast (2025-2032)
- 11.1. Key Highlights
- 11.2. Pricing Analysis
- 11.3. Latin America Market Size (US$ Bn) and Volume (Units) Forecast, by Country, 2025-2032
- 11.3.1. Brazil
- 11.3.2. Mexico
- 11.3.3. Rest of LATAM
- 11.4. Latin America Market Size (US$ Bn) and Volume (Units) Forecast, by Product Type, 2025-2032
- 11.4.1. Magnesium Steering Wheel
- 11.4.2. Aluminum Steering Wheel
- 11.4.3. Steel Steering Wheel
- 11.4.4. Others
- 11.5. Latin America Market Size (US$ Bn) and Volume (Units) Forecast, by Vehicle Type, 2025-2032
- 11.5.1. Passenger Vehicle
- 11.5.1.1. Compact
- 11.5.1.2. Hatchback
- 11.5.1.3. Sedan
- 11.5.1.4. SUVs
- 11.5.2. Commercial Vehicle
- 11.5.3. Electric Vehicles
- 11.6. Latin America Market Size (US$ Bn) and Volume (Units) Forecast, by Technology , 2025-2032
- 11.6.1. Normal
- 11.6.2. Control Embedded
- 11.7. Latin America Market Size (US$ Bn) and Volume (Units) Forecast, by Sales Channel, 2025-2032
- 11.7.1. OEM
- 11.7.2. Aftermarket
12. Middle East & Africa Automotive Steering Wheel Market Outlook: Historical (2019-2024) and Forecast (2025-2032)
- 12.1. Key Highlights
- 12.2. Pricing Analysis
- 12.3. Middle East & Africa Market Size (US$ Bn) and Volume (Units) Forecast, by Country, 2025-2032
- 12.3.1. GCC Countries
- 12.3.2. South Africa
- 12.3.3. Northern Africa
- 12.3.4. Rest of MEA
- 12.4. Middle East & Africa Market Size (US$ Bn) and Volume (Units) Forecast, by Product Type, 2025-2032
- 12.4.1. Magnesium Steering Wheel
- 12.4.2. Aluminum Steering Wheel
- 12.4.3. Steel Steering Wheel
- 12.4.4. Others
- 12.5. Middle East & Africa Market Size (US$ Bn) and Volume (Units) Forecast, by Vehicle Type, 2025-2032
- 12.5.1. Passenger Vehicle
- 12.5.1.1. Compact
- 12.5.1.2. Hatchback
- 12.5.1.3. Sedan
- 12.5.1.4. SUVs
- 12.5.2. Commercial Vehicle
- 12.5.3. Electric Vehicles
- 12.6. Middle East & Africa Market Size (US$ Bn) and Volume (Units) Forecast, by Technology , 2025-2032
- 12.6.1. Normal
- 12.6.2. Control Embedded
- 12.7. Middle East & Africa Market Size (US$ Bn) and Volume (Units) Forecast, by Sales Channel, 2025-2032
- 12.7.1. OEM
- 12.7.2. Aftermarket
13. Competition Landscape
- 13.1. Market Share Analysis, 2025
- 13.2. Market Structure
- 13.2.1. Competition Intensity Mapping
- 13.2.2. Competition Dashboard
- 13.3. Company Profiles
- 13.3.1. JTEKT Corporation
- 13.3.1.1. Company Overview
- 13.3.1.2. Product Portfolio/Offerings
- 13.3.1.3. Key Financials
- 13.3.1.4. SWOT Analysis
- 13.3.1.5. Company Strategy and Key Developments
- 13.3.2. Toyoda Gosei Co. Ltd
- 13.3.3. Autoliv Inc
- 13.3.4. ZF Friedrichshafen AG
- 13.3.5. Hyundai Mobis Co. Ltd
- 13.3.6. GKN Automotive
- 13.3.7. Nihon Plast Co. Ltd
- 13.3.8. Ningbo Joyson Electronics Co. Ltd
- 13.3.9. Nexteer Corporation
- 13.3.10. Robert Bosch
14. Appendix
- 14.1. Research Methodology
- 14.2. Research Assumptions
- 14.3. Acronyms and Abbreviations