Automotive Steering Wheel Market
Report ID: SQMIG25A2394
Report ID: SQMIG25A2394
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Report ID:
SQMIG25A2394 |
Region:
Global |
Published Date: May, 2025
Pages:
198
|Tables:
147
|Figures:
74
Automotive Steering Wheel Market size was valued at USD 26.79 Billion in 2024 and is poised to grow from USD 28.48 Billion in 2025 to USD 46.42 Billion by 2033, growing at a CAGR of 6.3% during the forecast period (2026–2033).
Rise in automotive production, growing adoption of Advanced Driver-Assistance Systems (ADAS), high consumer preference for luxury features, innovations in steering material and design, and imposition of stringent safety mandates are slated to be key factors driving the sales of automotive steering wheels.
The global rise in automotive production is a major driver for the automotive steering wheel market growth. Growing emphasis on integration of ADAS with modern steering wheel systems is helping create new business scope for market players. The global shift toward electric vehicles has created fresh demand for lightweight, energy-efficient steering wheels. EV manufacturers focus on ergonomics, sustainability, and futuristic design, all of which affect steering wheel development. Consumers are increasingly demanding premium interiors with enhanced comfort, boosting interest in high-end steering wheels with features such as leather wrapping, wood accents, and heated steering. Emerging markets such as India, Brazil, Southeast Asia, and Africa are experiencing rapid growth in vehicle ownership, spurred by rising disposable income and urbanization further boosting demand outlook.
On the contrary, high costs of advanced steering systems, supply chain disruptions, limited aftermarket opportunities, challenges in standardization across vehicle platforms are predicted to hamper the global automotive steering wheel market penetration in the long run.
How Smart and Haptic Technologies are Used in Steering Wheels?
Modern steering wheels are evolving into multifunctional hubs, integrating haptic feedback and touch-sensitive controls. These features enable drivers to manage infotainment, navigation, and safety systems without diverting attention from the road. Capacitive touch buttons, gesture controls, and feedback mechanisms enhance driver interaction while reducing mechanical components. As digital cockpits become standard in vehicles, steering wheels are being redesigned to support seamless connectivity and intuitive user experiences. OEMs are also adding voice command triggers directly into the wheel. This trend aligns with the broader push toward smarter, safer driving and reflects increasing consumer demand for integrated, tech-forward automotive interiors.
Market snapshot - 2026-2033
Global Market Size
USD 25.2 billion
Largest Segment
Passenger Cars
Fastest Growth
Heavy Commercial Vehicles
Growth Rate
6.3% CAGR
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Global automotive steering wheel market is segmented by type, component, vehicle type, technology, distribution channel and region. Based on type, the market is segmented into column EPS, pinion-EPS, and rack-EPS. Based on vehicle type, the market is segmented into heavy commercial vehicles, light commercial vehicles, and passenger cars. Based on component, the market is segmented into hydraulic pump, steering column, steering wheel speed sensor, electric motor, and ECU. Based on technology, the market is segmented into Hydraulic Power Steering (HPS), Electrically Assisted Hydraulic Power Steering (EHPS), Electric Power Steering (EPS), steer-by-wire, and quadrasteer/rear axle steer-by-wire. Based on distribution channel, the market is segmented into OEMs and aftermarket. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Which Component of Automotive Steering Wheel System is Sold Most?
The electric motor segment is forecasted to lead the global automotive steering wheel market revenue going forward. Growing adoption of electric power steering (EPS) systems in multiple vehicles and fundamental role of electric motors in the same are helping this segment hold sway over others. Automakers are preferring electric motors for their reliability, reduced maintenance, and compatibility with ADAS and autonomous driving features
Meanwhile, the demand for ECU (Electronic Control Unit) is slated to rise at an impressive CAGR going forward. High emphasis on integration of steering wheels with advanced driver assistance systems (ADAS) and autonomous driving technologies is helping generate new opportunities for market players via this component.
Where are Most Automotive Steering Wheels Being Used?
The passenger cars segment is slated to hold the highest automotive steering wheel market share in the future. Growing disposable income of people has resulted in a major hike in sales of passenger vehicles thereby cementing the dominance of this segment. High consumer preference for novel steering wheel designs is also creating new opportunities for automotive steering wheel companies.
On the other hand, the demand for automotive steering wheels in heavy commercial vehicles is slated to rise at a robust pace as per this automotive steering wheel market forecast. Growing emphasis on safety in heavy commercial vehicles and imposition of strict safety mandates are helping create new business scope via this segment.
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What Makes Asia Pacific a Highly Rewarding Region?
Robust automotive manufacturing activity, presence of leading automakers, and presence of tier-1 steering wheel suppliers are helping Asia Pacific maintain its dominant stance. Rising middle-class income, urbanization, and government-backed EV initiatives are helping boost sales of vehicles in this region thereby favoring automotive steering wheel demand. Availability of cost-effective manufacturing and favorable trade policies attract global investment, reinforcing the region’s leadership. Demand for advanced steering technologies from electric vehicles is also creating new opportunities in the region.
Automotive Steering Wheel Market in Japan
Legacy of Japan as a global automotive innovation hub make it a key player in the global automotive steering wheel industry. The presence of major OEMs like Toyota, Honda, and Nissan and their high investments in development of advanced steering wheel designs and systems are driving revenue. Japan’s stringent vehicle safety regulations and mature EV ecosystem push manufacturers toward smarter, safer steering solutions. The country is expected to remain a global benchmark for advanced steering wheel technologies with strong domestic and export demand.
Automotive Steering Wheel Market in South Korea
Global presence of South Korean automakers such as Hyundai, Kia, and Genesis makes it a crucial market for automotive steering wheel companies. South Korea’s robust 5G and AI ecosystem further enables development of connected and autonomous vehicle platforms, supporting drive-by-wire steering innovations The country’s vertically integrated supply chains and high R&D investments accelerate product development. South Korea stands out as a key innovator and exporter of smart, tech-centric steering wheel systems in Asia.
Will Investing in Europe Offer Good Returns for Market Players?
Europe is estimated to emerge as the second-largest market for automotive steering wheels. The presence of leading automotive manufacturers, growing demand for advanced steering vehicles, and rising sales of luxury vehicles with advanced steering wheels are helping this region generate new business scope for market players. High emphasis on vehicle and driver safety in this region coupled with high demand for comfortable driving experiences are fostering new opportunities for automotive steering wheel providers.
Automotive Steering Wheel Market in United Kingdom
Strong automotive R&D and prototyping coupled with the presence of luxury and performance-focused brands like Jaguar Land Rover is driving the sales of automotive steering wheel in the United Kingdom. High preference of British consumers for premium, customizable steering wheels, especially in sports and luxury segments is helping boost revenue generation in the country. While smaller in volume, the country’s high-spec focus contributes to trend-setting designs and advanced steering technologies.
Automotive Steering Wheel Market in Germany
Presence of renowned vehicle manufacturers like Audi, BMW, and Mercedes-Benz make Germany and a crucial market for automotive steering wheel suppliers in Europe. Adoption of premium steering systems by the brands promotes the use of top-grade materials, multifunction controls, and driver-monitoring sensors. Germany’s push for autonomous mobility and strict EU safety regulations fuel adoption of steering-linked ADAS and haptic technologies. The country’s engineering expertise ensures that German-made systems are benchmarks for quality, performance, and safety.
Automotive Steering Wheel Market in France
Growing emphasis of brands such as Renault, Peugeot, and Citroën, on combining safety, affordability, and design innovation is driving the sales of automotive steering wheel in France. Government incentives for EVs and strong urban mobility initiatives drive demand for compact, feature-rich vehicles with advanced steering solutions. France’s adherence to EU safety standards prompts integration of airbags and sensor-enabled steering systems. France maintains a balanced automotive steering wheel industry focused on both mass production and innovation.
Why are Automotive Steering Wheel Companies Investing Actively in North America?
Rapid adoption of advanced driver assistance systems (ADAS) and autonomous vehicle technologies are expected to bolster the demand for automotive steering wheels in this region. Regulatory focus on vehicle safety and emission reductions further supports the shift toward electronic and smart steering solutions. Strong consumer buying power and technological leadership further create new business scope for automotive steering wheel providers. Steering systems that support semi-autonomous driving, haptic feedback, and enhanced safety integration are predicted to be highly popular in the long run.
Automotive Steering Wheel Market in United States
Strong demand for premium vehicles and rapid adoption of ADAS technologies are allowing United States to spearhead automotive steering wheel demand in this region. High consumer expectations and strong EV growth, led by companies like Tesla and Rivian, push innovation in smart steering systems. Government safety regulations and autonomous vehicle pilot programs fuel further development. Steering wheels with heated grips, capacitive touch controls, and haptic feedback to enhance driver safety and comfort will be highly sought-after in the future.
Automotive Steering Wheel Market in Canada
Canada’s role in integrated vehicle manufacturing ecosystem of North America makes it a crucial market for automotive steering wheel providers. The presence of leading OEM assembly plants and component suppliers is also helping boost revenue generation. Harsh winter conditions drive demand for features like heated steering wheels and better grip ergonomics. Canada also emphasizes road safety, aligning with demand for ADAS-enabled controls. Though smaller in scale compared to the United States, Canada benefits from technological spillover and cross-border collaboration.
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Automotive Steering Wheel Market Drivers
Stringent Safety and Regulatory Standards
Technological Innovations in Material and Design
Automotive Steering Wheel Market Restraints
Challenges in Standardization Across Vehicle Platforms
Limited Aftermarket Opportunities
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Automotive steering wheel companies should focus on launching new designs and use lightweight components to stand out from the competition. Developing specific automotive steering wheels for electric vehicles can also help market players improve their revenue generation potential. Collaborations and product innovations are the two major strategies for all automotive steering wheel companies as per this global automotive steering wheel market analysis.
Top Player’s Company Profiles
Recent Developments in Automotive Steering Wheel Market
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing automotive production and emphasis on vehicle and driver safety are slated to boost sales of automotive steering wheels in the future. On the contrary, high costs of advanced steering wheels and limited aftermarket opportunities are forecasted to hurt the demand for automotive steering wheels in the long run. The Asia Pacific region is forecasted to lead the global sales of automotive steering wheels owing to high automotive manufacturing activity in countries such as Japan, India, South Korea and China. Demand for customization and personalization along with growing use of steer-by-wire technology are key trends driving automotive steering wheel sector through 2032 and beyond.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 26.79 Billion |
| Market size value in 2033 | USD 46.42 Billion |
| Growth Rate | 6.3% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Automotive Steering Wheel Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Steering Wheel Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Steering Wheel Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
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