Press release
Leading Element Driving Change in the Gaming Steering Wheels Market in 2025: Rising E-Sport Competitions Driving Gaming Steering Wheel Market Growth Driver
Gaming Steering Wheels Market
In the past few years, the market for gaming steering wheels has significantly expanded. Its size is projected to increase from $22.28 billion in 2024 to $24.23 billion in 2025, with an 8.7% compound annual growth rate (CAGR). Factors such as the heightened demand for high-performance gaming steering wheels, the surge in popularity for simulation games, increased consumer interest, the search for safety solutions, and the growth of e-sports and competitive gaming contribute to its growth in the historic period.
Strong growth is projected for the gaming steering wheels market in the coming years. It's expected to escalate to a value of $33.44 billion in 2029, with a compounded annual growth rate (CAGR) of 8.4%. This growth throughout the forecast period can be ascribed to the escalating adoption of AR/VR technologies for more lifelike controls, increased popularity of simulation games, a rise in vehicle demand and production, greater accessibility to gaming infrastructure, and the emergence of social impact gaming initiatives. Noteworthy trends for the forecast period include advancements in direct adaptive steering and steer-by-wire technology, progress in materials, the inclusion of blockchain technology, the adoption of wireless and cloud gaming, and integration with virtual reality (VR) and augmented reality (AR).
What Factors Are Fueling Growth in the Gaming Steering Wheels Market?
The expansion of the gaming steering wheel market is anticipated to be fueled by an increasing number of e-sport competitions. These competitions, which consist of organized multiplayer video game tournaments featuring professional players or teams, are often streamed online or in front of a live audience. These competitive events are designed to exhibit driving skills through the use of game steering wheels, delivering an immersive, genuine gaming experience. The rise in e-sports is linked to its popularity, wide access to high-speed internet, cultural acceptance, and engagement on social media platforms. E-sport competitions also draw sponsorships from hardware manufacturers looking to promote their products to a committed base of gaming enthusiasts. For example, a May 2024 report by Esports News UK, an online news portal dedicated to UK esports, stated that the revenues from UK games events and venues witnessed a 140% increase year-over-year, reaching £10.3 ($11.05) million in 2023 from £4.35 ($4.66) million in 2022. As such, it is expected that the burgeoning number of e-sport competitions will stimulate further growth in the gaming steering wheel market.
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Who Are the Dominant Companies Influencing Gaming Steering Wheels Market Trends?
Major companies operating in the gaming steering wheels market are Logitech, Turtle Beach, Mad Catz, Thrustmaster, Endor AG, Asetek Inc., VENOM UK LTD, GTR Simulator, Ascher Racing, NiTHO, SimXperience, Cube Controls S.R.L., SimCraft, Turn Racing, VELOCE LTD., Precision Sim Engineering Ltd., Grid Engineering, Simagic, mozaracing.com, JCL Simulator
How Is the Gaming Steering Wheels Market Evolving?
Leaders in the gaming steering wheel industry are zeroing in on the creation of advanced professional-grade racing setups, aimed at delivering the most authentic and immersive racing experience one can have. Defined as a top-tier, lifelike simulation system, a professional-grade racing scenario allows racers to train and analyze data in order to fine-tune their skills. Take, for example, LOGITECH, an industry front-runner based in Switzerland. In September 2022, they unveiled their PRO Racing Wheel and PRO Racing Pedals - specifically designed for professional sim racers. Their pro racing wheel includes a high-performance direct drive motor with robust force feedback of 11 Newton meters. The wheel itself measures 300 mm (11.81 inches) in diameter, a size upgrade from the earlier G923 model. It also features significantly large and comfortable metal paddle shifters that can also serve as analog gas or brake controls. Complementing this, the PRO racing pedals are made with a realistic load cell brake pedal that detects pressure, thus allowing users to adjust the pedal spacing horizontally based on their comfort.
What Are the Different Segmentations in the Gaming Steering Wheels Market?
The gaming steering wheels market covered in this report is segmented -
1) By Type: Gear-Driven Wheel, Belt-Driven Wheel, Direct Drive Wheel, Hybrid Wheel
2) By Clutch Pedal: With Clutch Pedal, Without Clutch Pedal
3) By Weight: 0-2.0 kilogram (kg), 2.1- 4.0 kilogram (kg), 4.1- 6.0 kilogram (kg), 6.1-8.0 kilogram (kg), More Than 8.0 kilogram (kg)
4) By Distribution Channel: Online, Offline
5) By Application: Personal Computer (PC), PlayStation 3 (PS3), PlayStation 4 (PS4), XBOX
Subsegments:
1) By Gear-Driven Wheel: Entry-Level Gear-Driven Wheels, Force Feedback Gear-Driven Wheels, Vibration Feedback Gear-Driven Wheels
2) By Belt-Driven Wheel: Single Belt-Driven Wheels, Dual Belt-Driven Wheels, High Torque Belt-Driven Wheels
3) By Direct Drive Wheel: Entry-Level Direct Drive Wheels, Mid-Range Direct Drive Wheels, High-End Direct Drive Wheels
4) By Hybrid Wheel: Gear And Belt Hybrid Wheels, Belt And Direct Drive Hybrid Wheels, Multi-Mechanism Hybrid Wheels
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Which Region Is at the Forefront of the Gaming Steering Wheels Market?
North America was the largest region in the gaming steering wheels market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gaming steering wheels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Gaming Steering Wheels Global Market Report?
- Market Size Analysis: Analyze the Gaming Steering Wheels Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Gaming Steering Wheels Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Gaming Steering Wheels Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Gaming Steering Wheels Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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