Covid-19 Impact on Automotive Steering Wheel Market is Expected to Grow at an Impressive CAGR by 2026

The Automotive Steering Wheel Market report published by Stratview Research offers wide-ranging analysis of key growth strategies, drivers, opportunities, key segments, and competitive landscape, etc. This detailed study is a useful source of information for prominent market players, new entrants, investors, and stakeholders to gain a thorough understanding of the market and determine measures to be taken to gain a competitive advantage.

Some key takeaways from this report –
The report offers key drivers that trigger the growth in the Automotive Steering Wheel Market. The insights mentioned in this report helps market players in formulating strategies to gain market presence or to sustain during the hard times. The research also mentions restraints of the market. Critical data on growth opportunities, current and upcoming trends are mentioned to assist market players in taking further steps by determining the potential in untapped regions.

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The research offers segment wise analysis of the Automotive Steering Wheel Market. Extensive analysis of sales, revenue, growth rate, and market share of each for the historic period and the forecast period is offered with the help of tables, graphs, pie charts and more.

Automotive Steering Wheel Market Share by Vehicle Type
The global automotive steering wheel market is segmented based on vehicle type: passenger car, light commercial vehicle, and medium & heavy-duty commercial vehicle. The passenger vehicle is expected to remain the most dominant vehicle type during the forecast period of 2020 to 2025. This vehicle segment is also likely to grow at the fastest rate in the same period, driven by an organic growth in the passenger car production across the globe and increasing demand for autonomous driving with high passenger safety, especially in premium and luxury cars.

Automotive Steering Wheel Market Share by Steering Diameter Size Type
Based on steering diameter size, the global automotive steering wheel market is segmented as small, medium and large diameter. Small-sized steering occupies the largest share in the global automotive steering wheel market because of its high use in passenger cars, especially in hatchback and mid-size sedan cars. This diameter size is projected to witness the fastest growth during the studied period of 2020 to 2025, driven by Asia-Pacific and Rest of the World.

Automotive Steering Wheel Market Share by Technology Type
Based on the technology, the global automotive steering wheel market is segmented as normal steering wheel and control embedded steering wheel. The normal steering wheel is projected to remain the most dominant technology type in the global automotive industry during the forecast period whereas control embedded steering wheel is expected to grow at a faster rate in the same period. Key initiatives, such as New Car Assessment Program taken by the government of many countries is also influencing the demand for automotive steering wheels equipped with an airbag to meet their safety standards.

Regional Insights
Based on region, the global automotive steering wheel market is segmented into North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific is projected to remain the largest automotive steering wheel market during the forecast period of 2020 to 2025. This region is also likely to witness the fastest growth in the same period, driven by increasing automobile production mainly in China and India. Both countries (china and India) would remain act as the growth engines of the Asia-Pacific region in the coming five years. Europe and North America are also sizeable markets and are likely to experience healthy growths in the same period.

Key Players
The following are the key players in the Automotive Steering Wheel Market-
• Autoliv Inc.
• Takata Corporation
• ZF TRW Automotive Holdings Corp.
• Key Safety Systems Inc.
• Nihon Plast Co., Ltd.
• Tokai Rika Co.

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This release was published on openPR.