Steering Wheel Market Share 2021: Global Key Findings, Industry Demand, Regional Analysis, Key Players Profiles, Future Prospects and Forecasts to 2027 -TAKATA, ZF TRW, Autoliv, TOYODA GOSEI

The Steering Wheel Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The Global Steering Wheel Market Size is Projected to Reach at a CAGR of 7% during 2021-2027.

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Market Overview

The important components of the steering system such as the steering coupler, tie rod ends, power steering pump, and steering yoke are a few main components that are more diverse and complex and offers numerous advantages. With the consistent technological advancements, the ease and safety of engaging more features in the steering wheel, the growth of the market increases.
The number of functions in a vehicle has grown considerably over the past few years. In the last few decades, more of these modern functions have made their way from the dashboard to an easy-to-reach position on the steering wheel. For instance, vehicles from Toyota such as Yaris and Proace that has multi-function steering wheels, which provides access to an increasing number of features from cruise control to air conditioning controls. Thereby, allowing the driver to push the appropriate button with the touch of a finger without putting themselves, passengers, and passengers in other vehicles at risk.

Top Leading 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

Recent Development:

In November 2018, Toyoda Gosei has announced the development of steering wheels with Human-machine interface (HMI) functions, which warn the driver of inattention or drowsiness. The company has sold these products to TG Logistics Co., Ltd.
In September 2018, ZF Friedrichshafen AG announced the expansion of the portfolio of steering parts as they are safety-relevant parts. They have expanded by including an additional 60 transverse control arms for models like Range Rover, Land Rover Discovery, Jaguar XF, XJ, F and S type. Additionally, they have included that steering wheel parts experience high demand from ZF Aftermarket.

Steering Wheel Market Segmentation by Type:

Passenger Car
Commercial Vehicle

Steering Wheel Market Segmentation by Application:

Synthetic Plastics
Synthetic Leather
Genuine Leather
Wood
Other

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Asia-Pacific to Witness a Significant Share

The Asia Pacific dominated the automotive steering wheel market across the globe, followed by Europe and North America. Additionally, with rapid urbanization in countries such as India, China, ASEAN Countries, the demand for passenger cars has been rapidly increasing, in turn boosting the demand for the steering wheel in the automotive industry.  Asia-Pacific region also accounts for the largest share as their owing to the availability of low-cost raw materials, cheap labour, increasing government initiatives towards local manufacturing, and free trade agreements with other countries. Moreover, some factors such as easy availability of credit and low unemployment rate are the major factors rising demand for cars in this region, leading to increasing demand for automotive steering wheels, which in turn is expected to drive the growth of the global market. 

Regional Steering Wheel Market (Regional Output, Demand & Forecast by Countries)

North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And additional.

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Highlights of the Steering Wheel Market Report:

Detailed overview of Steering Wheel Market
Changing the Steering Wheel market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
Historical, current and projected Steering Wheel market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Steering Wheel Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth.

The research includes historic data from 2016 to 2021 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, the Steering Wheel Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Steering Wheel industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.

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