Global Steering Wheel Armature
Market Report
2025
As per Cognitive Market Research's latest published report, the Global Steering Wheel Armature market size was USD 107.10 billion in 2022 and it is forecasted to reach USD 207.40 billion by 2030. Steering Wheel Armature Industry's Compound Annual Growth Rate will be 7.10% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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As per Cognitive Market Research's latest published report, the Global Steering Wheel Armature market size was USD 107.10 billion in 2022 and it is forecasted to reach USD 207.40 billion by 2030. Steering Wheel Armature Industry's Compound Annual Growth Rate will be 7.10% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Steering Wheel Armature Market Sales Revenue 2022 | $ 107.1 Billion |
Global Steering Wheel Armature Market Sales Revenue 2030 | $ 207.4 Billion |
Global Steering Wheel Armature Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 7.1% |
Market Split by Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Steering Wheel Armature Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The steering wheel armature is a component of a vehicle's steering system that connects the steering wheel to the steering mechanism, allowing the driver to control the direction of the vehicle. It is typically a metal shaft that runs through the steering column and connects to the steering gearbox or rack and pinion.
The armature usually consists of several parts, including the upper and lower shafts, coupler, universal joint, and bearings. The upper shaft is connected to the steering wheel and rotates when the driver turns the wheel. The lower shaft is connected to the gearbox or rack and pinion and rotates to change the direction of the wheels.
The demand for commercial vehicles, such as trucks and buses, is on the rise due to growing economic activities and increasing trade. Steering wheel armatures are an essential component of commercial vehicles, and as such, the growing demand for these vehicles is expected to drive the growth of the steering wheel armature market. The production of passenger vehicles, such as cars and SUVs, is on the rise due to increasing consumer demand. Steering wheel armatures are an essential component of passenger vehicles, and as such, the growing production of these vehicles is expected to drive the growth of the steering wheel armature market.
Electric power steering systems are gaining popularity due to their better fuel efficiency, improved handling, and reduced emissions. Unlike traditional hydraulic power steering systems that use steering wheel armatures, electric power steering systems use electric motors to assist the driver's steering input. As such, the increasing adoption of electric power steering systems may limit the growth of the steering wheel armature market.
The development of ADAS systems such as lane departure warnings, automatic emergency braking, and adaptive cruise control is expected to increase the demand for advanced steering systems that incorporate these features. This presents an opportunity for steering wheel armature manufacturers to develop new products that cater to these requirements. Advancements in technology such as 3D printing, nanotechnology, and robotics are expected to revolutionize the manufacturing process for automotive components, including steering wheel armatures.
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In July 2022'
Amazon announced its Rivian-built custom electric delivery vans started delivering parcels in several major US cities, with plans to hit 100 cities by the end of this year.
The EDV sources components like the battery modules, front electric drive unit—the EDV is front-wheel-drive only—control electronics, software platform, driver instrument cluster, infotainment screen, steering wheel column and armature from the R1T pickup and R1S SUV.
Top Companies Market Share in Steering Wheel Armature Industry: (In no particular order of Rank)
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Geographically, the global steering wheel armature market is divided into regions like North America, Europe, Asia Pacific, Latin America, and Middle-east Countries. Asia-Pacific region is expected to have the highest market share in the steering wheel armature market. This is primarily due to the growing production and demand for automobiles in countries like China, Japan, and India. Asia-Pacific region is expected to have the highest growth rate during the forecast period due to the rapidly growing automotive industry, increasing urbanization, and rising disposable income in the region.
The current report Scope analyzes Steering Wheel Armature Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Steering Wheel Armature Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Steering Wheel Armature Industry growth. Steering Wheel Armature market has been segmented with the help of its Type, Application , and others. Steering Wheel Armature market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on present and future trends, the market size is estimated from 2019 to 2031. Moreover, study also provides quantitative and qualitative analysis of each type to understand the driving factors for the fastest growing type segment for Steering Wheel Armature market.
Type of Steering Wheel Armature analyzed in this report are as follows:
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This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities for each application of Steering Wheel Armature from 2019 to 2031. This will also help to analyze the demand for Steering Wheel Armature across different end-use industries. Our research team will also help acquire additional data such as Value Chain, Patent analysis, Company Evaluation Quadrant (Matrix), and much more confidential analysis and data insights.
Some of the key Application of Steering Wheel Armature are:
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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Research Associate at Cognitive Market Research
Sumedha Gosavi is a Research Analyst with a specialized focus on the automobile and transportation sectors. With over two years of experience, she excels in conducting in-depth secondary research, competitive analysis, and market forecasting to deliver actionable insights that drive strategic decision-making.
In her current role, Sumedha leads research initiatives in the dynamic fields of automotive and transportation, identifying key trends, technological advancements, and market opportunities. Her ability to craft tailored research methodologies and distill complex data into clear, impactful strategies has been instrumental in enhancing her organization’s competitive edge.
With a deep passion for innovation in mobility and a commitment to continuous learning, Sumedha remains at the forefront of industry developments. Her expertise and analytical acumen make her an invaluable asset in navigating the ever evolving landscape of automobile and transportation research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Steering Wheel Armature Market is witnessing significant growth in the near future.
In 2023, the Magnesium or Magnesium Alloy segment accounted for noticeable share of global Steering Wheel Armature Market and is projected to experience significant growth in the near future.
The Passenger Car segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Getac Precision Technology, ROS Industrie and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Magnesium or Magnesium Alloy, Steel or Steel Alloy, Aluminum or Aluminum Alloy, Carbon fiber, Others |
Application | Passenger Car, Commercial Vehicles |
List of Competitors | Getac Precision Technology, TaiHang ChangQing Automobile Safety System, ROS Industrie, Tianjin Liuhe Magnesium Product, Shanghai Fangle Auto Parts, Nihon Plast, Magpulse, Summit Steering Wheel |
This chapter will help you gain GLOBAL Market Analysis of Steering Wheel Armature. Further deep in this chapter, you will be able to review Global Steering Wheel Armature Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Steering Wheel Armature. Further deep in this chapter, you will be able to review North America Steering Wheel Armature Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Steering Wheel Armature. Further deep in this chapter, you will be able to review Europe Steering Wheel Armature Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Steering Wheel Armature. Further deep in this chapter, you will be able to review Asia Pacific Steering Wheel Armature Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Steering Wheel Armature. Further deep in this chapter, you will be able to review South America Steering Wheel Armature Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East and Africa Market Analysis of Steering Wheel Armature. Further deep in this chapter, you will be able to review Middle East and Africa Steering Wheel Armature Market Split by various segments and Country Split.
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
This chapter provides an in-depth analysis of the market share among key competitors of Steering Wheel Armature. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Steering Wheel Armature market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Magnesium or Magnesium Alloy have a significant impact on Steering Wheel Armature market? |
What are the key factors affecting the Magnesium or Magnesium Alloy and Steel or Steel Alloy of Steering Wheel Armature Market? |
What is the CAGR/Growth Rate of Passenger Car during the forecast period? |
By type, which segment accounted for largest share of the global Steering Wheel Armature Market? |
Which region is expected to dominate the global Steering Wheel Armature Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Qualitative Data |
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Additional Quantitative Data |
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