Steering Wheel Market Report: Trends, Forecast and Competitive Analysis to 2030

Steering Wheel Trends and Forecast

The future of the global steering wheel market looks promising with opportunities in the online and offline markets. The global steering wheel market is expected to grow with a CAGR of 8.1% from 2024 to 2030. The major drivers for this market are growing worldwide gaming culture and the use of augmented and virtual reality in racing games, growth of online gaming worldwide, and incorporation of cutting-edge technology.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Steering Wheel by Segment

The study includes a forecast for the global steering wheel by type, clutch pedal, distribution channel, and region.

Steering Wheel Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Gear-Driven Wheel
• Belt-Driven Wheel
• Direct Drive Wheel
• Hybrid Wheel

Steering Wheel Market by Clutch Pedal [Shipment Analysis by Value from 2018 to 2030]:

• With Clutch Pedal
• Without Clutch Pedal

Steering Wheel Market by Distribution Channel [Shipment Analysis by Value from 2018 to 2030]:

• Online
• Offline

Steering Wheel Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Steering Wheel Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies steering wheel companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the steering wheel companies profiled in this report include-

• Thrustmaster
• Fanatec
• Hori
• SteelSeries
• Mad Catz
• Razer
• Thrustmaster
• Next Level Racing
• Guillemot Corporation
• SimXperience

Steering Wheel Market Insights

Lucintel forecasts that belt-driven wheels is expected to witness the highest growth over the forecast period because of using a system of belts and pulleys to increase the internal motors' output and give more consistent force input.

Within this market, online is expected to witness higher growth.

Europe will remain the largest region over the forecast period because it is home to prominent academic institutions, research centers, and tech firms that carry out cutting edge work in integrated circuit and photonics technologies.

Features of the Global Steering Wheel Market

Market Size Estimates: Steering wheel market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Steering wheel market size by type, clutch pedal, distribution channel, and region in terms of value ($B).

Regional Analysis: Steering wheel market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different type, clutch pedal, distribution channel, and regions for the steering wheel market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the steering wheel market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the growth forecast for steering wheel market?

Answer: The global steering wheel market is expected to grow with a CAGR of 8.1% from 2024 to 2030.

Q2. What are the major drivers influencing the growth of the steering wheel market?

Answer: The major drivers for this market are growing worldwide gaming culture and the use of augmented and virtual reality in racing games, growth of online gaming worldwide, and incorporation of cutting-edge technology.

Q3. What are the major segments for steering wheel market?

Answer: The future of the global steering wheel market looks promising with opportunities in the online and offline markets.

Q4. Who are the key steering wheel market companies?

Answer: Some of the key steering wheel companies are as follows:

• Thrustmaster
• Fanatec
• Hori
• SteelSeries
• Mad Catz
• Razer
• Thrustmaster
• Next Level Racing
• Guillemot Corporation
• SimXperience

Q5. Which steering wheel market segment will be the largest in future?

Answer: Lucintel forecasts that belt-driven wheels is expected to witness the highest growth over the forecast period because of using a system of belts and pulleys to increase the internal motors' output and give more consistent force input.

Q6. In steering wheel market, which region is expected to be the largest in next 5 years?

Answer: Europe will remain the largest region over the forecast period because it is home to prominent academic institutions, research centers, and tech firms that carry out cutting edge work in integrated circuit and photonics technologies.

Q.7. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the steering wheel market by type (gear-driven wheel, belt-driven wheel, direct drive wheel, and hybrid wheel), clutch pedal (with clutch pedal and without clutch pedal), distribution channel (online and offline), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?