The global Automotive Steering Wheel market size is projected to reach USD 8.62 billion by 2029
Published Date: Monday,22 Jan,2024
A steering wheel (also called a driving wheel or a hand wheel) is a type of steering control in vehicles.
Steering wheels are used in most modern land vehicles, including all mass-production automobiles, buses, light and heavy trucks, as well as tractors. The steering wheel is the part of the steering system that is manipulated by the driver; the rest of the steering system responds to such driver inputs. This can be through direct mechanical contact as in recirculating ball or rack and pinion steering gears, without or with the assistance of hydraulic power steering, HPS, or as in some modern production cars with the assistance of computer-controlled motors, known as electric power steering.
According to the new market research report “Global Automotive Steering Wheel Market Report 2023-2029”, published by GlobalInfoResearch, the global Automotive Steering Wheel market size is projected to reach USD 8.62 billion by 2029, at a CAGR of 4.4% during the forecast period.
- Global Automotive Steering Wheel MarketSize(US$ Million), 2018-2029
Source: GlobalInfoResearch, “Global Automotive Steering Wheel Market 2023 by Manufacturers, Regions, Type and Application, Forecast to 2029”.
- Global Automotive Steering Wheel Top12Players Ranking and Market Share(Based on data of 2021, Continually updated)
Source: GlobalInfoResearch, “Global Automotive Steering Wheel Market 2023 by Manufacturers, Regions, Type and Application, Forecast to 2029”.
The global key manufacturers of Automotive Steering Wheel include Autoliv, Toyoda Gosei, ZF Friedrichshafen AG, Yanfeng, Joyson Safety Systems, GSK InTek Co., Ltd., Tokai Rika, Neaton Auto Products Manufacturing, Inc., Fang Le, Sparco S.P.A, etc. In 2021, the global top five players had a share approximately 59.0% in terms of revenue.
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