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Rising E-Sport Competitions Driving Gaming Steering Wheel Market Growth Driver: A Major Catalyst in the Evolution of the Gaming Steering Wheels Market in 2025
Rising E-Sport Competitions Driving Gaming Steering Wheel Market Growth Driver
The growing number of esports competitions is expected to propel the growth of the gaming steering wheel market. Esports competitions have become increasingly popular, attracting more players and spectators. The demand for gaming steering wheels has risen as they offer an immersive and authentic driving experience in esports events. According to Esports News UK, revenues from UK gaming events surged by 140% in 2023. This growing number of esports competitions is driving the gaming steering wheel market.
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What growth opportunities are expected to drive the gaming steering wheels market's CAGR through 2034?
The gaming steering wheels market has grown steadily in recent years. It is expected to grow from $22.28 billion in 2024 to $24.23 billion in 2025, at a CAGR of 8.7%. This growth is attributed to the growing demand for high-performance steering wheels, the popularity of simulation games, increasing consumer interest, demand for safety solutions, and the rise of esports and competitive gaming.
The gaming steering wheels market is expected to grow to $33.44 billion by 2029 with a CAGR of 8.4%. The growth is driven by the adoption of AR/VR for realistic control, popularity of simulation games, rising vehicle production, and gaming infrastructure expansion. Trends include steer-by-wire technology, blockchain integration, and VR/AR integration in gaming.
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What are the emerging trends shaping the future of the gaming steering wheels market?
Leading companies in the gaming steering wheel market are concentrating on creating advanced professional-grade racing setups to offer a more realistic and immersive racing experience. These setups are designed to closely replicate real-world racing, helping drivers train and refine their skills. For instance, in September 2022, LOGITECH, based in Switzerland, launched the PRO Racing Wheel and PRO Racing Pedals for professional sim racers. The PRO Racing Wheel features a high-performance direct drive motor providing 11 Newton meters of force feedback and a 300mm diameter wheel. The PRO Racing Pedals have a realistic load cell brake pedal with customizable spacing for user preferences.
Which growth-oriented segments of the gaming steering wheels market are leading the industry's development?
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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What regions are leading the charge in 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 companies are at the forefront of innovation in the gaming steering wheels market?
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
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What Is Covered In The Gaming Steering Wheels Global Market Report?
•Market Size Forecast: Examine the gaming steering wheels market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the gaming steering wheels market for a structured understanding.
•Key Players Overview: Analyze major players in the gaming steering wheels market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the gaming steering wheels market.
•Segment Contributions: Evaluate how different segments drive overall growth in the gaming steering wheels market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the gaming steering wheels market.
•Industry Challenges: Identify potential risks and obstacles affecting the gaming steering wheels market.
•Competitive Landscape: Review strategic developments in the gaming steering wheels market, including expansions, agreements, and new product launches.
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