Global Automotive Steering Wheel Market 2018-2022
About this market
The advanced steering-assisted safety technologies make the steering feel more stable and appropriate for driving at different speeds and environments. Steering-assisted technologies which includes ASR and DSR modify the steering feel according to the vehicle speed and driving conditions by reducing vehicle yaw and lateral motions. Therefore, this has increased use of steering-mounted electronics making wheels more intuitive which, will drive the steering wheel market growth during the forecast period. Technavio’s market research analysts have predicted that the automotive steering wheel will register a CAGR of more than 4% by 2022.
Increasing use of steering- mounted electronics making wheels more intuitive
Steering wheels and steering systems have constantly evolved to keep up with the technological advancement in the automotive industry. Expanded regulatory requirements related to fuel consumption and emissions have made OEM’s to invest to develop better components and systems.
Developments of cars without steering
Autonomous cars operate without human interventions. Various automobiles manufactures have entered into partnerships with technology companies to integrate certain level of artificial intelligence (AI) in their vehicles to create autonomous vehicle.
For the detailed list of factors that will drive and challenge the growth of the automotive steering wheel market during the 2018-2022, view our report.
The automotive steering wheel market is fragmented with the presence of numerous established manufacturers. The emergence of advanced steering-assisted safety technologies makes the steering feel more stable and appropriate for driving at different speeds and environments. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies
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