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The steering wheel market is growing and developing at a CAGR of + 8.1 % sometime during 2023-2032.
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global steering wheel market report providing our top researchers' most recent findings :
“A new market research report added to repository of Market Intelligence Data is an in-depth analysis of Steering Wheel Market” . This research reports provides insights on current and future industry trends, enabling readers to identify products and services, driving revenue growth and profitability . This research report provides a detailed analysis of all key factors influencing the market on a global and regional scale, including drivers, restraints, threats, challenges, opportunities, and industry-specific trends . Additionally, the report cites global certainties and assurances along with downstream and upstream analysis of key players. The forecast market information, SWOT analysis, market scenario, and possibility study are the energetic aspects evaluated in this report. The research report presents a 2022 base year and forecasts between 2023 and 2032.
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Top Key Players of the Steering Wheel Market:
The report also provides analysis of the key companies of the industry and their detailed company profiles including TAKATA, ZF TRW, Autoliv, TOYODA GOSEI, Nihon Plast, Key Safety Systems, Starion, TRW&Fawer, Zhejiang Fangxiang, Yanfeng, Ningbo Mecai, Fellow, Jiangxi Xingxin, Daimay, Shuangou, Liaoning Jinxing, Yinzhou Yongcheng and others.
KEY INDUSTRY DEVELOPMENTS:
May 2021 – Autoliv, Inc., a world leader in automotive safety systems, will build a new steering manufacturing plant in Aguascalientes, Mexico. The 30,000 sqm/322,000 sq ft facility can employ up to 3,000 people fully operating.
July 2021- Autoliv, Inc., a global leader in automotive safety systems, opened up a new sound and vibration laboratory at Ogden Technical Center (OTC), which has been designed specifically for the development of automotive safety restraint equipment (airbags , seat belts, steering wheels).
January 2021- Nissan Motor Co., Ltd.'s newly launched“Rogue” in the North America market includes Electric Power Steering (EPS) with JTEKT Corporation's second-generation in-house MCU.
July 2021 – Toyoda Gosei Co., Ltd. developed a new structure for the driver-side airbag that can better protect the occupant. This airbag is found on the new Honda Civic, which was released in June 2021 in North America.
Steering Wheel Market Segmentation:
The Market report is segmented by Type and by Application along with a contemporary analysis pertaining to the current global market scenario, latest trends, and the overall market environment.
The major types of the market are:
Synthetic Plastics
Synthetic Leather
Genuine Leather
Wood
Others
The major applications in the market are:
Passenger Car
Commercial Vehicle
The base of geography, the world market of Steering Wheel and disruption has segmented as follows:
North America – United States, Canada, and Mexico
Europe-Germany, France, UK, Italy, Spain
South America – Brazil, Colombia, Argentina, and Chile
Asia Pacific includes – Japan, China, South Korea, India, and Southeast Asia
REGIONAL INSIGHTS :
Asia Pacific stood at USD 9.3 billion in 2020 and is projected to reach USD 17.2 billion by 2029, at a CAGR of 8.8% during the forecast period. The region is expected to dominate the global market as it is an automotive hub, which witnesses increasing vehicle production per year. This growth is attributed to rising preference for personal mobility in the post-COVID period that will boost automobiles and components such as steering wheels. The growing adoption of vital governmental initiatives, use of electric vehicles, and autonomous vehicles are expected to promote the market development in the region during the forecast period.
Europe has the second-largest position in the market due to key players in this region. Consumer acceptance and shared mobility for electric and self-driving cars have the potential to drive market expansion in the region
The North America market, worth USD 3.8 billion in 2023, is expected to grow to USD 6.3 billion in 2029, with a CAGR of 7.9% during the forecast period. Over the projected period, the market in North America is expected to rise rapidly. The regional market is aniticipated to grow due to increased government regulations for vehicle emissions, fast adoption rate of new technologies, and significant investment in product innovation.
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Chapter Outline of Steering Wheel Market:
– Steering Wheel Market Report Overview : It includes major players of the market covered in the research study, research scope, market segments by type, market segments by application, years considered for the research study, and objectives of the report.
– Global Growth Trends : This section focuses on industry trends where market drivers and top market trends are shed light upon. It also provides growth rates of key producers operating in the market. Furthermore, it offers production and capacity analysis where marketing pricing trends, capacity, production, and production value of the market are discussed.
– Steering Wheel Market Share by Manufacturers : Here, the report provides details about revenue by manufacturers, production and capacity by manufacturers, price by manufacturers, expansion plans, mergers and acquisitions, and products, market entry dates, distribution, and market areas of key manufacturers.
– Steering Wheel Market Size by Type: This section concentrates on product type segments where production value market share, price, and production market share by product type are discussed.
– Steering Wheel Market Size by Application : Besides an overview of the market by application, it gives a study on the consumption in the market by application.
– Steering Wheel Production by Region : Here, the production value growth rate, production growth rate, import and export, and key players of each regional market are provided.
– Steering Wheel Consumption by Region : This section provides information on the consumption in each regional market studied in the report. The consumption is discussed on the basis of country, application, and product type.
– Company Profiles : Almost all leading players of the market are profiled in this section. The analysts have provided information about their recent developments in the market, products, revenue, production, business, and company.
– Steering Wheel Market Forecast by Production : The production and production value forecasts included in this section are for the market as well as for key regional markets.
– Steering Wheel Market Forecast by Consumption : The consumption and consumption value forecasts included in this section are for the market as well as for key regional markets.
– Value Chain and Sales Analysis: It deeply analyzes customers, distributors, sales channels, and the value chain of the market.
– Key Findings : This section gives a quick look at the important findings of the research study.
Strategic points covered in the Steering Wheel market catalog:
– Introduction, market driving force product research goals and research scope of the market (2023-2032).
– Exclusive summary– Basic data on the market.
– The changing impact on market dynamics – global party supplies driving factors, trends, challenges, and opportunities; post-COVID analysis.
– Introduction of the market factors, after COVID impact analysis, Porter's five forces, the supply/value chain, PESTEL analysis, market entropy, patent/trademark analysis.
– Show 2023-2032 by type, end-user, and region/country.
– Assess the leading manufacturers of the Steering Wheel, including their competitive landscape, peer analysis, BCG matrix, and company profile.
– Evaluate the market-by-market segments, countries/regions and manufacturers/companies, the revenue share and sales of these companies/companies in these different regions of the main countries/regions (2023-2032).
To be continued...
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