Automotive Suspension Market Trends, Analysis, Research Report and Industry Forecast, 2017 - 2024: Global Market Insights Inc.

Automotive steering wheel market is divided into passenger, light commercial, heavy and medium duty vehicles. Passenger vehicle will lead the segment in the forecast time. The product is available in small, medium and large sizes. Small diameter size accounts for more share in near future owing to high comfort and light weight associated with them. Technological bifurcation involves normal and control embedded steering.

Continued sales in global car industry has boosted automotive steering wheel market. Positive sales outlook and growing economy in developing countries has accelerated the product demand. Rising investment on cars has positively impacted the product demand.

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The product is an essential vehicle component that is used with strategic movements of hand and wrist to control vehicle movement. First automobile was steered in 1890, it is one of the earliest component which was introduced in a vehicle. Being an oldest part, it has a strong position in automobile industry.

Advanced technology in the component has added value in vehicle such as power steering. This mechanism helps driver by augmenting efforts of the wheel, it reduces physical exertions of the car driver to turn the wheels when a vehicle is stopped or moving slowly. With growing technical advancement, product demand is rising significantly.

Germany and United Kingdom are largest buyers of cars in the world. United Kingdom sold over 2 million cars and trucks in 2012, which is one of the highest figure recoded. It is home to over 6 volume car manufacturers and commercial vehicles. More than 70% of vehicle manufactured in the region is exported to various countries for consumption. Growing demand of automobiles and exports in the region is driving growth for automotive steering wheel market in Europe.

Asia Pacific, dominated by India and China are major contributors in automotive steering wheel market with rise in locomotive industry. Increasing population and rise in disposable income are the factors boosting demand in the region.

The U.S. is one of the largest car manufacturer in the world. Easy availability of credit and low unemployment rate has created lucrative opportunity for vehicle demand & sales. With increasing demand for cars in the region automotive steering wheel market will foresee significant growth.

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Prominent players in automotive steering wheel market are Takata Corporation, Tokai Rika, AutoLiv, ZF TRW, Key safety systems, Nihon Plast, Vehicle Improvement Product and Neaton auto products manufacturing.

Automotive Steering Wheel Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, France, UK, Italy, Russia, China, Japan, India, Thailand, Indonesia, Malaysia, Australia, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024

https://www.gminsights.com/industry-analysis/automotive-steering-wheel-market

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