Automotive Steering Wheel Market to grow at 4.7% CAGR in the forecast period (2017-2022)

Summary:
The report on the Automotive Steering Wheel Market by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2017-2022. The report also offers insights into different market segments and other factors affecting the market.

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Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Automotive Steering Wheel Market is expected to inflate at impressive CAGR of 4.7% by the forecast period (2017 – 2022).

As per the report, the market is segmented by:
• By Vehicle Type: Passenger Car, Light Commercial Vehicle, Medium & Heavy Duty Commercial Vehicle
• By Wheel Diameter: Small, Medium, Large
• By Technology Type: Normal Steering Wheel, Control Embedded Steering Wheel
• By Material Type: Polyurethane, Leather, Wood
• By Region: North America, Europe, Asia-Pacific, Rest of the World

The Table of Contents can be gone through here:
https://www.stratviewresearch.com/toc/133/automotive-steering-wheel-market.html

Highlights of the Report:
The global automotive steering wheel market was valued at US$ 2.7 billion in 2016 and is projected to grow at a healthy CAGR of 4.7% CAGR over the next five years to reach US$ 3.6 billion in 2022. Increasing automobile production fueled by rising disposable income, the introduction of stringent safety standards, rising demand for safety equipped vehicles, and advancement in steering wheel technology are major growth drivers of the automotive steering wheel market globally.

The global automotive steering wheel market is segmented based on vehicle type: passenger car, light commercial vehicle, and medium & heavy duty commercial vehicle. The passenger vehicle is expected to remain the most dominant vehicle type during the forecast period of 2017 to 2022. This vehicle segment is also likely to grow at the fastest rate in the same period, driven by an organic growth in the passenger car production across the globe and increasing demand for autonomous driving with high passenger safety, especially in premium and luxury cars.

Based on steering diameter size, the global automotive steering wheel market is segmented as small, medium and large diameter. Small-sized steering occupies the largest share in the global automotive steering wheel market because of its high use in passenger cars, especially in hatchback and mid-size sedan cars. This diameter size is projected to witness the fastest growth during the studied period of 2017 to 2022, driven by Asia-Pacific and Rest of the World.

Based on the technology, the global automotive steering wheel market is segmented as normal steering wheel and control embedded steering wheel. The normal steering wheel is projected to remain the most dominant technology type in the global automotive industry during the forecast period whereas control embedded steering wheel is expected to grow at a faster rate in the same period. Key initiatives, such as New Car Assessment Program taken by the government of many countries is also influencing the demand for automotive steering wheels equipped with an airbag to meet their safety standards.

Based on region, the global automotive steering wheel market is segmented into North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific is projected to remain the largest automotive steering wheel market during the forecast period of 2017 to 2022. This region is also likely to witness the fastest growth in the same period, driven by increasing automobile production mainly in China and India. Both countries (china and India) would remain act as the growth engines of the Asia-Pacific region in the coming five years. Europe and North America are also sizeable markets and are likely to experience healthy growths in the same period.

Key Players of the Market

The market is consolidated in nature with five major players Continental AG, Delphi Automotive Plc, Denso Corporation, MicroVision Inc., Nippon Seiki Co., Ltd holding together the major share in the market, with Continental AG being the key player.
Other important firms are Panasonic Corporation, Pioneer Corporation, Robert Bosch GmbH, Visteon Corporation, Yazaki Corporation.

Features of the Report

The Report discusses about the working of the Steering Wheel, the various types, and the growth of the Steering Wheel in the global market. Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

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Ritesh Gandecha
Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176

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This release was published on openPR.