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Call for Precise Functionalities of Automotives to drive the Automotive Steering Wheel Market

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Automotive Steering Wheel Market

The increasing number of functions in vehicle have actually made their way to dashboard and ultimately to easy-to-reach position on steering wheel. Along these lines, Toyota’s Proace and Yaris have multi-function steering wheels, which, in turn, provide access to growing number of features, right from controlling the cruise to the air conditioning controls. Persistence Market Research has walked through these findings with probable courses of action in its latest market study entitled “Automotive Steering Wheel Market”.

How is the Automotive Steering Wheel market categorized?

The global automotive steering wheel market, by type of product, spans magnesium steering wheel, aluminium steering wheel, steel steering wheel, and likewise. By type of technology, it’s normal (with automotive steering wheel and without automotive steering wheel), control embedded (with automotive steering wheel and without automotive steering wheel). By type of diameter, it’s small, medium, and large.

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By type of vehicle, it’s passenger cars (compact, mid-sized, premium, and luxury), commercial vehicles/light commercial vehicles, and heavy commercial vehicles. By spoke count, it’s two, three, and four. By sales channel, it’s OEM and aftermarket. Persistence Market Research has, through its team of analysts and consultants, etched these realities with future prospects in its latest market study entitled “Automotive Steering Wheel Market”.

automotive steering wheel market

Region-wise Analysis

North America holds a significant market share due to governments laying down regulations regarding vehicle carbon emissions coupled with faster adoption of novel technologies, and noteworthy investment in innovation of products. Europe stands second herein on the account of consumers’ acceptance along with shared mobility for self-driving and electric cars.

The Asia-Pacific is expected to take over in the forecast period due to growing preference for mobility on the personal grounds after the pandemic. Plus, governments are encouraging usage of autonomous and electric vehicles, which are expected to keep the hopes high for automotive steering market. Persistence Market Research has entailed these facts with insights in its latest market study entitled “Automotive Steering Wheel Market”.

Competitive Landscape

Persistence Market Research has entailed the key players in automotive steering wheel market as:

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  • Hyundai Mobis Co. Ltd
  • ZF Friedrichshafen Manufacturing Company
  • Takata
  • Momo Automotive Accessories Inc.
  • Toyoda Gosei
  • Tokai Rika Co., Ltd.
  • Autoliv
  • Key Safety Systems
  • Nihon Plast Co. Ltd
  • Grant Products International INC
  • GSK Intek
  • Moto Lita
  • Simmonds Superspoke
  • Isotta
  • Neaton Auto Products
  • Nardi Personal
  • Sabic
  • KKR Metal Components
  • Emdet Group
  • Sun Autoelektrik Private Limited

Persistence Market Research has also mentioned about the key developments on this count. For instance – Autoliv, Inc., in May 2021, started building a new-fangled steering manufacturing plant all across Aguascalientes (Mexico). This facility spanning 30K sq. m./322L sq. ft. facility is capable of employing close to 3K people full-time.

The same Autoliv, Inc., in July 2021, did come up with a novel sound and vibration laboratory at OTC (Ogden Technical Center). It has been designed on specific grounds to develop automotive safety restraint equipment like steering wheels, seat belts, airbags. Nissan Motor Co., Ltd., in January 2021, put forth its “Rogue” in the market of North America, which is inclusive of Electric Power Steering (EPS) with JTEKT Corporation’s 2nd generation in-house MCU. Toyoda Gosei Co., Ltd., in July 2021, did develop a brand new structure, especially for driver-side airbag, which could protect the occupant in a better way. Honda Civic has this airbag. It was released in North America in June 2021.

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The Way Further

The global automotive steering wheel market is bound to witness grandeur in the next 10 years – Persistence Market Research

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