Who are the key players in Global Automotive Steering Wheel Market industry?

The top five key players in the Global Automotive Steering Wheel Market are ZF Friedrichshafen AG, Autoliv Inc., Toyoda Gosei Co. Ltd., Valeo SA, and Delphi Automotive PLC. These companies are known for technological innovations, diverse product portfolios, and strong geographic presence, making them leaders in the automotive steering wheel market.

What is the Global Automotive Steering Wheel Market growth?

The Global Automotive Steering Wheel Market has witnessed steady growth, driven mainly by the rising advanced driver assistance systems (ADAS) integration. In 2023, ZF Friedrichshafen AG reported an uptick in demand for smart steering wheels, contributing to an estimated CAGR of around 5.4% for the forecast period.

Which segment accounted for the largest Global Automotive Steering Wheel Market share?

Passenger vehicles accounted for the largest share in the Global Automotive Steering Wheel Market. This dominance results from the high volume of personal vehicle production worldwide and the increasing incorporation of safety and comfort features, leading to greater demand in this application segment.

What are the factors driving the Global Automotive Steering Wheel Market?

The key driver for the market is the rapid adoption of advanced safety features, including airbag-equipped steering wheels and electronic controls. Companies like Valeo SA invest heavily in R&D to enhance multifunctionality, comfort, and driver safety, propelling overall market growth and innovation.

Which type accounted for the largest Global Automotive Steering Wheel Market share?

The largest market share belongs to the conventional steering wheel type, owing to its widespread use in both entry-level and mid-range vehicles globally. However, demand for multifunctional smart steering wheels is rapidly increasing as automakers like Toyoda Gosei Co. Ltd. integrate advanced features.

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Global Automotive Steering Wheel Market Size & Share Analysis - Growth Trends and Forecast (2026 - 2035)

Global Automotive Steering Wheel Market: by Type (Standard Steering Wheel, Heated Steering Wheel, Multifunction Steering Wheel, Power Steering Wheel, Custom Steering Wheel, Others), Application (Passenger Cars, Commercial Vehicles, Off-Road Vehicles, Electric Vehicles, Two-Wheelers, Others), Distribution Channels (OEM, Aftermarket, Distributors, Online, Offline, Others), Technology (Hydraulic Power Steering, Electric Power Steering, Electro-Hydraulic Power Steering, Steer-by-Wire, Adaptive Steering, Others), Organization Size (Small, Medium, Large) and By Global â Historical & Forecast Period (2020-2035) Comprehensive Study 2025

Last Updated: 06-04-2026 | Format: PDF | Report ID:21583

Global Automotive Steering Wheel Market Outlook 2025-2035

The global automotive steering wheel market is experiencing robust growth, driven by rapid technological innovations, increasing adoption of electric and advanced driver-assistance vehicles, and rising consumer focus on safety and comfort. Key types in demand are multifunction and power steering wheels, with growth supported by OEM and aftermarket channels. Automotive OEMs and steering system manufacturers are actively investing in connected, adaptive, and lightweight steering solutions to cater to diverse commercial and passenger vehicle needs. Market participants are navigating evolving safety standards, rising customization trends, expansion into emerging markets, and the challenges posed by raw material costs and shifting regulatory frameworks.

Latest Market Dynamics

Key Drivers

Increasing demand for advanced driver-assistance systems (ADAS) and electronic features in passenger vehicles, as seen in recent product launches by ZF Friedrichshafen AG

Surge in adoption of heated and multifunction steering wheels for enhanced driver comfort and in-cabin connectivity, exemplified by Autoliv Inc. releasing upgrades to heating modules for luxury car segments (August 2024).
Growing customization and personalization in steering wheel design, highlighted by Momo Srl’s partnership with performance car brands to deliver custom wheels (September 2024).

In 2025, the standard steering wheel remains the dominant type, yet multifunction and heated steering wheels are quickly gaining market traction due to rising demand for enhanced features and driving comfort. Automotive manufacturers and aftermarket providers are prioritizing integrated functionalities and smart design, resulting in increased shares for power and customizable wheels. As technological advancements become the norm, the adoption rate of steer-by-wire and adaptive steering wheels is expected to accelerate through the forecast period, reshaping product segment contributions across global markets.

In terms of application, passenger cars held the largest share of the market in 2025. The segment's growth is propelled by increased global vehicle production, higher adoption rates of ADAS features, and customer demand for enhanced comfort and safety. Commercial vehicles also represent a substantial portion, driven by logistics sector growth and technological upgrades. Electric vehicles and off-road vehicles continue to grow in market share, supported by the global shift towards electrification and increasing demand for specialized utility vehicles.

The global automotive steering wheel market revenue shows a steady upward trajectory, climbing from 12,500 Million USD in 2020 to a projected 24,800 Million USD by 2035. Growth is fueled by rising vehicle production volumes, rapid adoption of advanced steering technologies (such as electric and adaptive systems), and expanded OEM and aftermarket activities across both developed and emerging markets. The revenue trajectory underscores the market’s resilience to short-term disruptions and highlights the integral role of steering systems in the evolution of smart, connected vehicles.

The year-on-year (YOY) growth analysis reflects a robust CAGR for the global automotive steering wheel market, with peak acceleration observed between 2025 and 2030 (averaging 4.9% YOY increase). Growth moderates towards 2035 as the market approaches maturity but is sustained by continual advancements in steering technology and expansion in high-growth vehicle segments. This upward trend highlights strong long-term demand, despite periodic macroeconomic and supply chain challenges.

Asia Pacific dominates the global automotive steering wheel market in 2025, accounting for the largest regional market share. This is primarily due to high vehicle production in China, India, and Japan, alongside accelerated electric vehicle adoption. North America and Europe follow, driven by premium and electric segment growth, while other regions continue gaining momentum through increased automotive investments and policy support for safety and emission standards.

The market is moderately consolidated, with major players like ZF Friedrichshafen AG, Autoliv Inc., and Hyundai Mobis Co., Ltd. collectively holding a sizable share in 2025. Leading companies leverage partnerships, technological innovation, and global expansion to maintain competitive edge, while niche firms like Momo Srl and Moto Lita Ltd. capture premium and custom segments. Competitive dynamics are shaped by ongoing investments in research, strategic alliances, and responsiveness to OEM customer needs.

OEMs are the primary buyers in the steering wheel market, accounting for the bulk of demand in 2025, driven by continuous technological upgrades and stricter regulatory requirements. The aftermarket segment remains significant, supporting vehicle customization and replacement needs, while fleet owners and specialty buyers such as motorsport and off-road vehicle businesses comprise the remaining demand.

Metrics	Details
Years	2020-2035
Base Year	2025
Market Size	16100
Regions	Asia Pacific, North America, Europe, Rest of World
Segments	By Type (Standard Steering Wheel, Heated Steering Wheel, Multifunction Steering Wheel, Power Steering Wheel, Custom Steering Wheel, Others), By Application (Passenger Cars, Commercial Vehicles, Off-Road Vehicles, Electric Vehicles, Two-Wheelers, Others), By Distribution Channel (OEM, Aftermarket, Distributors, Online, Offline, Others), By Technology (Hydraulic Power Steering, Electric Power Steering, Electro-Hydraulic Power Steering, Steer-by-Wire, Adaptive Steering, Others), By Organization Size (Small, Medium, Large)
Players	ZF Friedrichshafen AG, Autoliv Inc., Tokai Rika Co., Ltd., Toyoda Gosei Co., Ltd., Nihon Plast Co., Ltd., Hyundai Mobis Co., Ltd., Yanfeng Automotive Trim Systems Co., Ltd., Valeo S.A., Momo Srl, Grant Products International Inc., TACHI-S Co., Ltd., Shanghai Baolong Automotive Corporation, Moto Lita Ltd., GSK Intek Co., Ltd., Prodrive Technologies B.V.

June 2024: ZF Friedrichshafen AG unveiled its next-generation intelligent multifunction steering wheel with integrated biometric sensors for ADAS vehicles.
July 2024: Hyundai Mobis Co., Ltd. introduced a steer-by-wire system tailored for electric vehicles, enhancing vehicle control and safety.
August 2024: Autoliv Inc. expanded its heated steering wheel technology with improved energy efficiency for premium German automakers.
August 2024: Valeo S.A. announced major investments in sustainable steering wheel production, launching lightweight, eco-friendly designs.
September 2024: Momo Srl signed strategic partnerships with high-performance vehicle manufacturers to deliver personalized custom steering wheel solutions.

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Global Automotive Steering Wheel Market Size & Share Analysis - Growth Trends and Forecast (2026 - 2035)

Global Automotive Steering Wheel Market Outlook 2025-2035

Latest Market Dynamics

Key Drivers

Key Trends

Key Opportunities

Key Challenges

Key Restraints

Global Automotive Steering Wheel Market Share by Type, 2025

Global Automotive Steering Wheel Market Share by Application, 2025

Global Automotive Steering Wheel Market Revenue (USD Million), 2020-2035

Global Automotive Steering Wheel Market YOY (%) Growth, 2020-2035

Global Automotive Steering Wheel Market Share by Region, 2025

Global Automotive Steering Wheel Market Players Share, 2025

Global Automotive Steering Wheel Market Buyers Share, 2025

Study Coverage

Key Recent Developments

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