Automotive Steering Wheel Market Report – 2025 Outlook, Trends, Share, Size & Forecast
MarkNtel Advisors has unveiled its latest research report on the Automotive Steering Wheel Market, providing an in-depth analysis of market dynamics, growth prospects, and competitive landscape. This report serves as a valuable resource for stakeholders aiming to capitalize on emerging opportunities and navigate potential challenges in the Automotive Steering Wheel industry.
Automotive Steering Wheel Market Size: 2025 Outlook
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). Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS).
U.S. tariffs are changing—are you prepared? Download your free sample PDF of the report for timely data and expert advice – https://www.marknteladvisors.com/query/request-sample/automotive-steering-wheel-market.html
📘 Scope of the Report
- Forecasts till 2030 with year-wise market breakdown
- Geographical and segment-level analysis
- Company profiles and strategic insights
- Key market drivers and restraints
- Analysis of market trends and investment opportunities
What’s Driving the Market?
Increasing Penetration of Electric Vehicles Globally – Carried by a decarbonization challenge globally, the EV segment has highly penetrated the market over the years with the support of various policies and incentives globally. The need for customized steering wheel designs that fulfill the requirements of electric vehicles and technologically sophisticated vehicles is increasing. In 2023, Nearly 1 in 5 cars sold were EVs with around 14 million new electric car registrations bringing the total number of on-road cars to around 40 million. By the end of 2024, electric car sales would reach up to 17 million accounting for approximately 20% of total car sales.
What’s Holding Back Growth?
Resistance to Non-Traditional Steering Designs by Consumers – In the Global Automobile Steering Wheel Market, one major challenge is consumer resistance to unconventional steering designs. Despite the emergence of innovative steering wheel designs especially in luxury and electric vehicle (EV) models, many drivers are reluctant to adopt these adjustments because of worries about safety usability, and comfort. Customers have mixed and confused reactions to the move from traditional circular steering wheels to unusual shapes like rectangular or yoke designs making innovations almost impossible with the shape of the steering. For Instance; Toyota faced criticism when they introduced Yoke Steering in the bZ4X EV as it was impractical for daily driving according to consumers for which they eventually provided both, a traditional circular wheel and a yoke option to address consumer hesitancy.
Access Full Market Insights & Key Statistics! https://www.marknteladvisors.com/research-library/automotive-steering-wheel-market.html
Use your official business email to connect with our team and enjoy full access with priority support.
Automotive Steering Wheel Market Segmentation
By Vehicle Type
- Passenger Vehicles- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Hatchbacks- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Sedans- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- SUVs- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Crossovers- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Commercial Vehicles- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Electric Vehicles-Market Size & Forecast 2020-2030, Units Sold (Thousands)
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)
- H-EPS -Market Size & Forecast 2020-2030, Units Sold (Thousands)
- C-EPS-Market Size & Forecast 2020-2030, Units Sold (Thousands)
- P-EPS-Market Size & Forecast 2020-2030, Units Sold (Thousands)
- R-EPS-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)
- By Sales Channel
- OEM- Market Size & Forecast 2020-2030, Units Sold (Thousands)
- Aftermarket- Market Size & Forecast 2020-2030, Units Sold (Thousands)
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
🏢 Industry Leaders: Who’s Dominating the Automotive Steering Wheel Market?
The market is highly competitive, with players launching innovation-driven products and investing in strategic partnerships. Key participants include:
- 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.
These companies are focused on health-based R&D, expansion, and functional ingredient diversification.
Looking for Global, Regional or country-specific reports on this market?
Visit our website or simply fill out the inquiry form, and our team will reach out with customized insights and support - https://www.marknteladvisors.com/query/request-customization/automotive-steering-wheel-market.html
🧠 Frequently Asked Questions (FAQs)
- What are the main drivers of the Automotive Steering Wheel market?
- Which segment leads the Automotive Steering Wheel industry?
- What regulatory challenges impact product development?
- Who are the top players in the Automotive Steering Wheel industry?
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.
Contact Us:
MarkNtel Advisors LLP
Sales Office: 564 Prospect St, B9, New Haven, Connecticut, USA-06511
Corporate Office: Office No.109, H-159, Sector 63, Noida, Uttar Pradesh-201301, India
For Sales Enquiries: sales@marknteladvisors.com
