Automotive Steering Wheel Market Charting Growth Trajectories: Analysis and Forecasts 2025-2033

Key Insights

The Automotive Steering Wheel Market size was valued at USD 18.20 USD Billion in 2023 and is projected to reach USD 23.16 USD Billion by 2032, exhibiting a CAGR of 3.5 % during the forecast period. A steering wheel also called a driving wheel or hand wheel is a type of steering control in vehicles and vessels (ships and boats). Steering wheels are used in most modern land vehicles, including all mass-production automobiles as well as light and heavy trucks. 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. 

Automotive Steering Wheel Trends

• Increasing demand for advanced driver assistance systems (ADAS)
• Growing popularity of electric vehicles (EVs)
• Rising consumer preference for customized and premium steering wheels
• Integration of haptic feedback and touch-sensitive controls

Driving Forces: What's Propelling the Automotive Steering Wheel Market

• Stringent safety regulations worldwide
• Technological advancements and innovations
• Expansion of the automotive industry, especially in emerging markets
• Growing focus on driver comfort and convenience

Challenges and Restraints in the Automotive Steering Wheel Market

• Cost and complexity of advanced steering systems
• Limited availability of skilled labour for manufacturing and assembly
• Regulations and standards related to steering wheel safety
• Competition from alternative input devices (e.g., gesture control)

Emerging Trends in Automotive Steering Wheel

• Haptic feedback and touch-sensitive controls
• Integration of multimedia and entertainment functions
• Voice control and gesture recognition
• Wireless connectivity and remote control capabilities
• Sustainability and use of eco-friendly materials

Growth Catalysts in the Automotive Steering Wheel Industry

• Government incentives for autonomous and connected vehicles
• Partnerships and collaborations between automakers and technology providers
• Increasing investment in research and development
• Rising disposable income and growing consumer demand for luxury vehicles

Market Segmentation: Automotive Steering Wheel Analysis

Technology Type

• Normal
• Embedded Control

Size

• Small
• Medium
• Large

Vehicle Type

• Passenger Vehicle
• Commercial Vehicle

Leading Players in the Automotive Steering Wheel Market

• Autoliv Inc (Sweden)
• ZF Friedrichshafen AG (Germany)
• JTEKT Corporation (Japan) 
• Toyoda Gosei Co. Ltd (Japan) 
• Ningbo Joyson Electronics Co. Ltd (China)
• Nexteer Corporation (U.S.)
• Hyundai Mobis Co. Ltd (South Korea) 
• GKN Automotive (U.K.)
• Nihon Plast Co. Ltd (Japan) 

Significant developments in the Automotive Steering Wheel Sector

• Partnerships between OEMs and tier-one suppliers for the development of advanced steering systems
• Growing investments in research and development of autonomous driving technologies
• Integration of AI algorithms for adaptive safety and comfort features

Comprehensive Coverage Automotive Steering Wheel Market Report

• Provides an exhaustive analysis of the global automotive steering wheel industry, delving into market size, share, trends, drivers, restraints, and opportunities.
• Offers granular segmentation by steering wheel type (mechanical, hydraulic, electric, and haptics-based), material (leather, plastic, wood, and metal), and vehicle type (passenger cars, commercial vehicles, and two-wheelers), enabling strategic investment decisions.
• Maps the competitive landscape, profiling key market players, their strengths, strategies, and market positions.
• Highlights notable developments, innovations, and emerging technologies shaping the sector.
• Identifies untapped market potential and growth avenues, providing insights for expansion and diversification.

Regional Insight

• North America: Explores market dynamics, key trends, and growth drivers in the region.
• Europe: Analyzes market size, competition, and regulatory influences shaping the European landscape.
li>Asia Pacific: Provides insights into the rapidly expanding automotive industry in the region, with a focus on growth opportunities and challenges.
• South America: Assesses market potential, analyzes key drivers, and identifies opportunities.
• Middle East and Africa: Examines market demand, growth prospects, and untapped potential.

Pricing Strategies

• Tiered pricing based on features and technology
• Volume discounts and bulk orders

DROCs

• Automotive Steering Wheel Market Size
• Automotive Steering Wheel Market Share
• Automotive Steering Wheel Market Forecast

Segmentation

• Automotive Steering Wheel Market by Technology Type (Large), (Embedded)
• Automotive Steering Wheel Market by Vehicle Type (Passenger)
• Automotive Steering Wheel Market by Region

Swot Analysis

• Strengths: Technological advancements, increasing demand for safety features
• Weaknesses: Cost and complexity, limited availability of skilled labour
• Opportunities: Growing EV market, integration of ADAS systems
• Threats: Competition from alternative input devices