PUBLISHER: The Business Research Company | PRODUCT CODE: 1695106
PUBLISHER: The Business Research Company | PRODUCT CODE: 1695106
A steering wheel armature refers to the inner metal framework of the steering wheel, connecting the steering wheel to the steering mechanism and allowing the driver to control the vehicle's direction. It provides structural support for other components by linking the steering wheel to the steering mechanism.
The main types of products included in steering wheel armatures are magnesium steering wheels, aluminum steering wheels, steel steering wheels, and others. Magnesium steering wheels are crafted from a magnesium-based alloy, offering greater elongation and energy absorption compared to conventional aluminum alloy steering wheels. Vehicle types encompass passenger cars, light commercial vehicles (LCV), and heavy commercial vehicles (HCV). The number of spokes varies, including one spoke, two spokes, three spokes, four spokes, and six spokes. These products are distributed through various channels such as original equipment manufacturers (OEM) and the aftermarket.
The steering wheel armature market research report is one of a series of new reports from The Business Research Company that provides steering wheel armature market statistics, including the steering wheel armature industry global market size, regional shares, competitors with steering wheel armature market share, detailed steering wheel armature market segments, market trends and opportunities, and any further data you may need to thrive in the steering wheel armature industry. This steering wheel armature market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The steering wheel armature market size has grown strongly in recent years. It will grow from $83.45 billion in 2024 to $90.36 billion in 2025 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to shift to power steering systems, advancements in safety features, introduction of tilt and telescopic adjustments, adoption of multimedia and control interfaces, evolution of anti-theft mechanisms.
The steering wheel armature market size is expected to see strong growth in the next few years. It will grow to $121.43 billion in 2029 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to shift towards integrated controls, adoption of advanced sensors, rise in customization options, growth in haptic feedback systems, demand for lightweight materials. Major trends in the forecast period include customization and personalization demands, compliance with safety standards, adoption of connectivity and infotainment features, design and ergonomic improvements, advancements in driver assistance systems.
The rising demand for automobiles is anticipated to drive the growth of the steering wheel armature market in the coming years. An automobile is defined as a wheeled motor vehicle, typically featuring four wheels and powered by either an internal combustion engine or alternative energy sources. The steering wheel armature is an essential component of the steering system in a vehicle, serving as the structural foundation for all steering wheel mountings, including airbags and driver controls. For example, in 2023, the Organisation Internationale des Constructeurs d'Automobiles (OICA), a France-based international association of automobile manufacturers, reported significant growth in the global automotive industry, with total vehicle production reaching 93,546,599 units-an increase from the 85,016,728 units produced in 2022. Consequently, the growing demand for automobiles is fueling the expansion of the steering wheel armature market.
The escalating adoption of advanced driver assistance systems (ADAS) technologies is anticipated to further propel the steering wheel armature market's growth. Advanced driver assistance systems encompass a range of technological features and sensors integrated into vehicles to enhance safety, improve driving, and assist drivers in various capacities. The steering wheel armature plays a pivotal role in facilitating these advanced systems by providing the necessary interface for sensors and controls. This interface enhances the accuracy and effectiveness of features such as lane-keeping and adaptive cruise control. Projections from the Insurance Institute for Highway Safety and Highway Loss Data Institute suggest that by 2026, at least half of all registered vehicles will incorporate two ADAS systems. This includes 71% featuring rear cameras, 60% with back parking sensors, 17% equipped with adaptive cruise control and lane centering, and 13% boasting adaptive headlights. Hence, the increasing adoption of ADAS contributes significantly to the growth of the steering wheel armature market.
Major companies in the steering wheel armature market are focusing on the development of innovative steering wheels that incorporate a zero-gravity seat solution to enhance driver comfort and minimize fatigue during long journeys, ultimately improving the overall driving experience and safety. A zero-gravity seat solution is a seating design that replicates the sensation of weightlessness found in a zero-gravity environment, commonly utilized in aviation, space travel, and certain high-performance vehicles. For example, in May 2023, Autoliv, Inc., a Sweden-based provider of automotive safety systems and mobility safety solutions, introduced an integrated cockpit featuring a zero-gravity seat specifically designed for autonomous driving, along with the Star steering wheel that includes an integrated central screen. These innovations contribute to improved safety, comfort, and the overall driving experience.
In April 2023, Lear Corporation acquired I.G. Bauerhin, underscoring the company's commitment to advancing its Thermal Comfort Systems portfolio. This acquisition positions Lear to enhance its offering in steering wheel armatures by integrating I.G. Bauerhin's expertise in crafting effective heating, ventilation, active cooling, lumbar support, and massage functionalities. I.G. Bauerhin, based in Germany, is recognized for its contributions to steering wheel armature manufacturing.
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
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
The countries covered in the steering wheel armature market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The steering wheel armature market consists of sales of steering wheels, steering shaft and column, tie rods, rack, idler arms, and bearings. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Steering Wheel Armature Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on steering wheel armature market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for steering wheel armature ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The steering wheel armature market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.