Automotive Steering Wheel Market size to reach 22.81 mn units by 2024, Autoliv Inc., GKN Automotive Ltd., and ZF Friedrichshafen AG emerge as Key Contributors to growth | Technavio

Technavio has been monitoring the global automotive steering wheel market and it is poised to grow by 22.81 mn units during 2020-2024, progressing at a CAGR of about 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Technavio has announced its latest market research report titled Global Automotive Steering Wheel Market 2020-2024 (Graphic: Business Wire)

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Frequently Asked Questions:

• What are the major trends in the market?
  Rising automotive production is a major trend driving the growth of the market.
• At what rate is the market projected to grow?
  The year-over-year growth for 2020 is estimated at 3.35% and the incremental growth of the market is anticipated to be $ 22.81 mn units.
• Who are the top players in the market?
  Autoliv Inc., GKN Automotive Ltd., Hyundai Mobis Co. Ltd., JTEKT Corp., Nexteer Automotive Corp., Nihon Plast Co. Ltd, Ningbo Joyson Electronics Co. Ltd., Tokai Rika Co. Ltd., Toyoda Gosei Co. Ltd., and ZF Friedrichshafen AG, are some of the major market participants.
• What is the key market driver?
  The increasing use of steering-mounted electronics is one of the major factors driving the market.
• How big is the APAC market?
  The APAC region will contribute 58% of the market share.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Autoliv Inc., GKN Automotive Ltd., Hyundai Mobis Co. Ltd., JTEKT Corp., Nexteer Automotive Corp., Nihon Plast Co. Ltd, Ningbo Joyson Electronics Co. Ltd., Tokai Rika Co. Ltd., Toyoda Gosei Co. Ltd., and ZF Friedrichshafen AG are some of the major market participants. The increasing use of steering-mounted electronics will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Automotive Steering Wheel Market 2020-2024: Segmentation

Automotive Steering Wheel Market is segmented as below:

• Application
  • Passenger Cars
  • Commercial Vehicles
• Geography
  • APAC
  • North America
  • Europe
  • South America
  • MEA

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Automotive Steering Wheel Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The automotive steering wheel market report covers the following areas:

• Automotive Steering Wheel Market Size
• Automotive Steering Wheel Market Trends
• Automotive Steering Wheel Market Industry Analysis

This study identifies rising automotive production as one of the prime reasons driving the automotive steering wheel market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Automotive Steering Wheel Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist automotive steering wheel market growth during the next five years
• Estimation of the automotive steering wheel market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the automotive steering wheel market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of automotive steering wheel market vendors

Table of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Market characteristics
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Application

• Market segments
• Comparison by Application
• Passenger cars - Market size and forecast 2019-2024
• Commercial vehicles - Market size and forecast 2019-2024
• Market opportunity by Application

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Autoliv Inc.
• GKN Automotive Ltd.
• Hyundai Mobis Co. Ltd.
• JTEKT Corp.
• Nexteer Automotive Corp.
• Nihon Plast Co. Ltd
• Ningbo Joyson Electronics Co. Ltd.
• Tokai Rika Co. Ltd.
• Toyoda Gosei Co. Ltd.
• ZF Friedrichshafen AG

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

   

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