Driving Steering Wheel Armature Market Growth in 2025: The Role of Increasing Automobile Demand Boosts Steering Wheel Armature Market

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Steering Wheel Armature Market Size Growth Forecast: What to Expect by 2025?
The market for steering wheel armature has seen a robust expansion in the previous years. The market size is projected to rise from $83.45 billion in 2024 to $90.36 billion in 2025, with a compound annual growth rate (CAGR) of 8.3%. The historic period's development can be linked to the transition towards power steering systems, enhanced safety features, the advent of tilt and telescopic adjustments, the incorporation of multimedia and control interfaces, and the evolution of anti-theft mechanisms.

How Will the Steering Wheel Armature Market Size Evolve and Grow by 2029?
Expectations are set for substantial growth in the steering wheel armature market over the next few years. The projected growth anticipates a rise to $121.43 billion by 2029, with a compound annual growth rate (CAGR) of 7.7%. This projected growth during the forecast period can be attributed to various factors such as the shift towards integrated controls, and the rising adoption of cutting-edge sensors. Moreover, rising customization options, increased application of haptic feedback systems, and demand for lightweight materials are also driving this growth. Some major upcoming trends for this forecast period include an increase in customization and personalization demands, adherence to safety standards, adoption of infotainment and connectivity features, design and ergonomic enhancements, along with advancements in driver assistance systems.

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What Drivers Are Propelling the Growth of Steering Wheel Armature Market Forward?
The upswing in the automobile demand is projected to significantly spur the expansion of the steering wheel armature market. In essence, an automobile is a motor vehicle on wheels, frequently with four wheels and powered by an internal combustion engine. It may also be powered by electric or other energy forms. The steering wheel armature forms an integral part of the automobile's steering system by providing a structural basis for mounting steering wheel components like airbags and driver controls. For instance, in 2023, the global automotive industry witnessed substantial growth with a total production of 93546599 vehicles. This number dramatically rose from the 85016728 units produced in 2022, as per the Organisation Internationale des Constructeurs d'Automobiles (OICA), a France-based association of auto manufacturers. Consequently, the burgeoning demand for automobiles propels the steering wheel armature market's growth. Growth in the steering wheel armature market is set to be driven forward by the increased adoption of advanced driver assistance systems (ADAS) technologies. Advanced driver assistance systems (ADAS) comprise technology features and sensors that are incorporated into vehicles to ramp up safety, augment driving, and assist drivers in various aspects including collision aversion, lane keeping, and adaptive cruise control. The steering wheel armature plays a vital role by offering sensors and controls interface essential for functionalities like lane keeping and adaptive cruise control, thus boosting their precision and efficiency. As an example, in January 2023, the Insurance Institute for Highway Safety and Highway Loss Data Institute, a nonprofit organization based in the US, revealed that two ADAS systems are predicted to be outfitted in about half of all registered vehicles by 2026. Approximately 71% of registered vehicles will be equipped with rear cameras by 2026, and 60% will own back parking sensors. Moreover, 17% of registered vehicles are expected to feature adaptive cruise control with lane centering, and 13% of registered vehicles are likely to possess adaptive headlights. Therefore, the escalating adoption of ADAS is contributing to the growth of the steering wheel armature market.

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Which Emerging Trends Are Transforming the Steering Wheel Armature Market in 2025?
Having recognized the significance of driver comfort and safety, prominent firms within the steering wheel armature market are channeling their efforts into creating novel steering wheels equipped with zero-gravity seat solutions. This pioneering seating design aims to emulate the feeling of weightlessness found in a zero-gravity setting, providing relief from fatigue during extended journeys and enriching the overall driving experience. Zero-gravity seat solutions are mostly seen in the aviation sector, space exploration, and within some high-performance vehicles. For instance, Autoliv, Inc., a Sweden-based organisation specializing in vehicular safety systems and solutions for mobility safety, made headlines in May 2023 when it introduced an integrated cockpit with a zero-gravity seat, particularly designed for autonomous vehicles. They also unveiled the Star steering wheel, complete with an integrated central screen, further enhancing safety, comfort, and the overall driving experience.

What Are the Key Segments in the Steering Wheel Armature Market?
The steering wheel armature market covered in this report is segmented -

1) By Product Type: Magnesium Steering Wheel, Aluminum Steering Wheel, Steel Steering Wheel, Other Products
2) By Vehicle Type: Passenger Cars, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV)
3) By Number Of Spokes: One Spoke, Two Spokes, Three Spokes, Four Spokes, Six Spokes
4) By Sales Channel: Original Equipment Manufacturer (OEM), After market

Subsegments:
1) By Magnesium Steering Wheel: Cast Magnesium Steering Wheels, Forged Magnesium Steering Wheels
2) By Aluminum Steering Wheel: Cast Aluminum Steering Wheels, Extruded Aluminum Steering Wheels
3) By Steel Steering Wheel: Stamped Steel Steering Wheels, Welded Steel Steering Wheels
4) By Other Products: Composite Steering Wheels, Carbon Fiber Steering Wheels, Customized Steering Wheels

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Who Are the Key Players Shaping the Steering Wheel Armature Market's Competitive Landscape?
Major companies operating in the steering wheel armature market report are ZF Friedrichshafen AG, Hyundai Mobis, Valeo S.A., TRW Automotive Holdings Corp., Delphi Technologies, Autoliv Inc., TOYODA GOSEI Co. Ltd., NSK Ltd., JOYSON SAFETY SYSTEMS, Sensata Technologies Inc., Nexteer Automotive, Takata Corp., Leopold Kostal GmbH & Co. KG, Getac Technology Corporation, Nihon Plast Co. Ltd., OMP Racing Spa, TVH Parts Co., Neaton Auto Products Manufacturing Inc., Summit Racing Equipments, Lunt Manufacturing Co. Inc., Sparco S.p.A., Grant Products International Inc., MZW Motor, Flaming River Industries Inc., ROS INDUSTRIE SRL

What Geographic Markets Are Powering Growth in the Steering Wheel Armature Market?
North America was the largest region in the steering wheel armature market in 2024. The regions covered in the steering wheel armature market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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