Market Overview:
The global steering wheel market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for passenger cars and commercial vehicles across the globe. Additionally, the growing awareness about safety features in vehicles is also propelling the demand for steering wheels globally. The synthetic plastics segment is expected to dominate the global steering wheel market during the forecast period, owing to its properties such as durability and resistance against wear and tear. The synthetic leather segment is also anticipated to witness significant growth during the forecast period, owing to its properties such as high strength and resistance against abrasion.
Product Definition:
A steering wheel is a device used to steer a vehicle. It is typically a round, flat object with a grip in the center that the driver uses to turn the front wheels of the car.
Synthetic Plastics:
Synthetic Plastics is a group of man-made polymers that are manufactured chemically through the polymerization process. The most common types of synthetic plastics include Polyethylene (PE), Polypropylene (PP), and Polystyrene (PS). These three plastics have different properties, which make them suitable for various industries such as automotive, electrical & electronics, construction industry and packaging industry.
Synthetic Leather:
Synthetic leather is a type of faux or synthetic leather, which is produced from artificial sources like polyurethane and polyester. It has several advantages over natural or genuine leather including resistance to oil & water, easy maintenance, no need for tanning equipment and it's cheaper than real animal hide.
It also helps in improving the aesthetic value of steering wheels by making them look newer and cleaner without any grease stains from previous owners.
Application Insights:
Passenger car application dominated the global market with a revenue share of over 60% in 2017. Rising demand for passenger cars due to growing middle-class population and increasing disposable income is expected to drive the growth of this segment. In addition, stringent government regulations regarding maximum permissible blood alcohol content (MPH) for drivers and requirement of safety belts or harnesses is likely to boost product demand.
The commercial vehicle segment is anticipated to witness significant growth over the forecast period owing to rising adoption of these vehicles in developing countries such as India, Indonesia, Malaysia, Philippines and Thailand where road infrastructure remains inadequate compared with developed countries like U.S., Canada and U.K.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing increasing demand for automobiles on account of rising disposable income, changing lifestyle, and growing population. Moreover, countries such as China and India are experiencing a surge in automotive sales due to low manufacturing cost coupled with government support for promoting passenger vehicles.
The Asia Pacific steering wheel market is majorly driven by China owing to high production volume along with other factors such as cheap labor cost and easy availability of raw materials that have made it one of the leading producers across the globe. Europe was another prominent regional segment accounting for a share of 24% in terms of revenue in 2017 owing to high demand from various application segments including passenger cars and commercial vehicles. Germany accounted for more than 25% share within Europe on account o fhigh production volume coupled with presence o fother key players such as Continental AG & Co., Horiba Ltd., ZF Friedrichshafen AG & Co.
Growth Factors:
- Increasing demand for luxury cars
- Rising disposable income of consumers
- Technological advancements in steering wheel design and functionality
- Growing popularity of sports cars and SUVs
- Proliferation of online car sales channels
Scope Of The Report
Report Attributes
Report Details
Report Title
Steering Wheel Market Research Report
By Type
Synthetic Plastics, Synthetic Leather, Genuine Leather, Wood, Other
By Application
Passenger Car, Commercial Vehicle
By Companies
TAKATA, ZF TRW, Autoliv, TOYODA GOSEI, Nihon Plast, Key Safety Systems, Starion, TRW&Fawer, Zhejiang Fangxiang, Yanfeng, Ningbo Mecai, Fellow, Jiangxi Xingxin, Daimay, Shuangou, Liaoning Jinxing, Yinzhou Yongcheng
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
236
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Steering Wheel Market Report Segments:
The global Steering Wheel market is segmented on the basis of:
Types
Synthetic Plastics, Synthetic Leather, Genuine Leather, Wood, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Car, Commercial Vehicle
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- TAKATA
- ZF TRW
- Autoliv
- TOYODA GOSEI
- Nihon Plast
- Key Safety Systems
- Starion
- TRW&Fawer
- Zhejiang Fangxiang
- Yanfeng
- Ningbo Mecai
- Fellow
- Jiangxi Xingxin
- Daimay
- Shuangou
- Liaoning Jinxing
- Yinzhou Yongcheng
Highlights of The Steering Wheel Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Synthetic Plastics
- Synthetic Leather
- Genuine Leather
- Wood
- Other
- By Application:
- Passenger Car
- Commercial Vehicle
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Steering Wheel Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A steering wheel is a device that is used to steer a vehicle.
Some of the key players operating in the steering wheel market are TAKATA, ZF TRW, Autoliv, TOYODA GOSEI, Nihon Plast, Key Safety Systems, Starion, TRW&Fawer, Zhejiang Fangxiang, Yanfeng, Ningbo Mecai, Fellow, Jiangxi Xingxin, Daimay, Shuangou, Liaoning Jinxing, Yinzhou Yongcheng.
The steering wheel market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Steering Wheel Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Steering Wheel Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Steering Wheel Market - Supply Chain
4.5. Global Steering Wheel Market Forecast
4.5.1. Steering Wheel Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Steering Wheel Market Size (000 Units) and Y-o-Y Growth
4.5.3. Steering Wheel Market Absolute $ Opportunity
5. Global Steering Wheel Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Steering Wheel Market Size and Volume Forecast by Type
5.3.1. Synthetic Plastics
5.3.2. Synthetic Leather
5.3.3. Genuine Leather
5.3.4. Wood
5.3.5. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Steering Wheel Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Steering Wheel Market Size and Volume Forecast by Application
6.3.1. Passenger Car
6.3.2. Commercial Vehicle
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Steering Wheel Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Steering Wheel Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Steering Wheel Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Steering Wheel Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Steering Wheel Demand Share Forecast, 2019-2026
9. North America Steering Wheel Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Steering Wheel Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Steering Wheel Market Size and Volume Forecast by Application
9.4.1. Passenger Car
9.4.2. Commercial Vehicle
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Steering Wheel Market Size and Volume Forecast by Type
9.7.1. Synthetic Plastics
9.7.2. Synthetic Leather
9.7.3. Genuine Leather
9.7.4. Wood
9.7.5. Other
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Steering Wheel Demand Share Forecast, 2019-2026
10. Latin America Steering Wheel Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Steering Wheel Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Steering Wheel Market Size and Volume Forecast by Application
10.4.1. Passenger Car
10.4.2. Commercial Vehicle
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Steering Wheel Market Size and Volume Forecast by Type
10.7.1. Synthetic Plastics
10.7.2. Synthetic Leather
10.7.3. Genuine Leather
10.7.4. Wood
10.7.5. Other
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Steering Wheel Demand Share Forecast, 2019-2026
11. Europe Steering Wheel Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Steering Wheel Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Steering Wheel Market Size and Volume Forecast by Application
11.4.1. Passenger Car
11.4.2. Commercial Vehicle
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Steering Wheel Market Size and Volume Forecast by Type
11.7.1. Synthetic Plastics
11.7.2. Synthetic Leather
11.7.3. Genuine Leather
11.7.4. Wood
11.7.5. Other
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type 11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Steering Wheel Demand Share, 2019-2026
12. Asia Pacific Steering Wheel Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Steering Wheel Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Steering Wheel Market Size and Volume Forecast by Application
12.4.1. Passenger Car
12.4.2. Commercial Vehicle
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Steering Wheel Market Size and Volume Forecast by Type
12.7.1. Synthetic Plastics
12.7.2. Synthetic Leather
12.7.3. Genuine Leather
12.7.4. Wood
12.7.5. Other
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Steering Wheel Demand Share, 2019-2026
13. Middle East & Africa Steering Wheel Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Steering Wheel Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Steering Wheel Market Size and Volume Forecast by Application
13.4.1. Passenger Car
13.4.2. Commercial Vehicle
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Steering Wheel Market Size and Volume Forecast by Type
13.7.1. Synthetic Plastics
13.7.2. Synthetic Leather
13.7.3. Genuine Leather
13.7.4. Wood
13.7.5. Other
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Steering Wheel Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Steering Wheel Market: Market Share Analysis
14.2. Steering Wheel Distributors and Customers
14.3. Steering Wheel Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. TAKATA
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. ZF TRW
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Autoliv
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. TOYODA GOSEI
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Nihon Plast
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Key Safety Systems
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Starion
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. TRW&Fawer
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Zhejiang Fangxiang
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Yanfeng
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Ningbo Mecai
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Fellow
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Jiangxi Xingxin
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Daimay
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Shuangou
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Liaoning Jinxing
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Yinzhou Yongcheng
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
