Automotive Steering Wheel Market Growth by Top Key Players - Autoliv Inc., Takata Corporation, ZF TRW Motorized Holdings Corp., Key Safety Systems Inc., Nihon Plast Co.

An automotive steering wheel is used for controlling vehicles. Automotive steering allows the driver to control the course of vehicle travel by turning the steering wheel, which also turns the input shaft that connects steering wheel to the gear unit. The steering system transforms the rotation of the steering wheel into rotating movement of the road wheels in such a way that the steering wheel rim turns a long way to move the road wheels a short way.

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Rising need to keep a driver’s focus on the road is increasing demand for modern steering wheel. According to Vehicle Safety Act, developments in automobile design will increase safety and reduce injury and death rates. For instance, Invisa Mod Integral steering wheel aids in enhancing safety and minimizes possibility of road accidents. Therefore, advanced steering wheel will automatically increase the safety of the vehicle, which in turn will help in propelling the market growth.

Automotive Steering Wheel Market: Regional Insights

High demand for automotive products in economies such as China, India, Japan, Indonesia, South Korea, and Thailand is expected to drive growth of global automotive steering wheel market over the forecast period. Moreover, establishment of production facilities in these economies by major automobile industries such as General Motors, Daimler, and Volkswagen is expected to provide strong growth prospects for automotive steering wheel market growth.

Automotive Steering Wheel Market: Competitive Background

Key players operating in the global automotive steering wheel market include Autoliv Inc., Takata Corporation, ZF TRW Motorized Holdings Corp., Key Safety Systems Inc., Nihon Plast Co., Ltd., and Tokai Rika Co. among others. Development in technology and increasing geographic presence are the strategies adopted by the key players to retain market position. For instance, In December 2017, ZF launched a new steering wheel that provides the support to Level 3 automated functions, which directly enhance the driving functionality.

Global Automotive Steering Wheel Market: Taxonomy

On the basis of vehicle type, automotive steering wheel market is segmented into:

Passenger Car
Light Commercial Vehicle
Medium & Heavy Duty Commercial Vehicle

On the basis of product type, automotive steering wheel market is segmented into:

Aluminium Steering Wheel
Magnesium Steering Wheel
Steel Steering Wheel
Other

On the basis of wheel type, automotive steering wheel market is segmented into:

Small Wheel Type
Medium Wheel Type
Large Wheel Type

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