Automotive Steering Wheel Switch Market to Grow at 2.3% CAGR, Reaching $2.2 Billion by 2032

Allied Market Research published a report, titled, "Automotive Steering Wheel Switch Market by Type (Split and Modular) and Vehicle Type (Passenger Vehicles and Commercial Vehicles): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the automotive steering wheel switch market was valued at $1.8 billion in 2022, and is estimated to reach $2.2 billion by 2032, growing at a CAGR of 2.3% from 2023 to 2032.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/3135

𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 :

On the basis of type the push type button dominated the market share in 2022 due to implementation of various vehicle controls system on steering wheels such as cruise control, driver assistance, and infotainment features. Push type buttons enable easy integration and space savings for these controls thus optimizing steering wheel layout. Moreover, they are cheaper to install and easier to operate while driving, hence, modern automobiles manufactures are increasingly using push type buttons.

On the basis of vehicle type the passenger vehicle segment dominated the market share in 2022, owing to the growing urbanization and rising population in cities, thus driving the need for personal mobility solutions. Additionally, changing consumer preferences and growing disposable income contribute to the growing demand for passenger cars. Furthermore, rising environmental concerns toward reducing emissions from vehicles are resulting in increasing demand for electric and other alternative fuel vehicles, further contributing to the growth of the market.

Based on sales channel the aftermarket segment dominated the market share in 2022, owing to increasing demand for repair and maintenance of old steering wheel switches. Moreover, the ageing vehicle fleet on roads requires continuous upgrades and replacement of older switches. Furthermore, the replacement of steering wheel switches from the aftermarket is more cost-effective as compared to OEM, thus contributing to the growth in market demand.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/automotive-steering-wheel-switch-market/purchase-options

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 :

The growing population and increasing disposable income in the developing countries such as India, Mexico, Indonesia, and China have resulted in increase in sales and production of passenger vehicles segment. Similarly, these countries are witnessing strong urbanization. Thus, the growing population in metro cities is creating more demand for personal mobility solutions, resulting in increased adoption of passenger vehicles. Furthermore, modern vehicles are often equipped with technologies such as infotainment, ADAS, and cruise control for improved safety and convenience; thus, the rising integration of advanced technologies is resulting in driving the demand for automotive steering wheels in these countries.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

Valeo SA
Preh GmbH
ZF Friedrichshafen
ALPS Alpine Co Ltd
Tokai Rika
Standard Motor Products, Inc.
Panasonic Corporation
Delphi Technologies
C&K Components, Inc.
KOSTAL Automobil Elektrik GmbH & Co. KG

The report provides a detailed analysis of these key players in the global automotive steering wheel switch market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, and agreements to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/3135

𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭 :

On November 12, 2023, Preh GmbH introduced a new Preh control lever, a customized motorized drive lever system. The new MDL system is designed to replace the conventional steering wheel in the cockpit system, especially in agricultural machinery. The new Preh control lever facilitates the implementation of a wide range of functions, including acceleration, deceleration, and steering, as well as supports autonomous driving. The function can be adjusted by pressing a button on the armrest; this modular system can be integrated into any vehicle type, thus making it more versatile and providing a completely new user experience.

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

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