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(Transportation-News.com, December 27, 2018 )
Stratview Research has published a new research report on Automotive Steering Wheel Market. This extensive report by Stratview Research analyses the growth of Automotive Steering Wheel Market over the trend period of 2011 to 2016 and forecast period of 2017 to 2022 under the following segments -
• By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium- and Heavy-Duty Commercial Vehicle)
• By Material Type (Polyurethane, Leather, Wood)
• By Wheel Diameter (Small, Medium, Large)
• By Technology Type (Normal Steering Wheel, Control Embedded Steering Wheel)
• By Region (North America, Europe, Asia-Pacific, Rest of the World)
Go through the detailed scope: https://www.stratviewresearch.com/toc/133/automotive-steering-wheel-market.html
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Increasing demand of steering wheels in automotive industry
The global automotive steering wheel market was valued at US$ 2.7 billion in 2016 and is projected to grow at a healthy CAGR of 4.7% CAGR over the next five years to reach US$ 3.6 billion in 2022. Increasing automobile production fueled by rising disposable income, the introduction of stringent safety standards, rising demand for safety equipped vehicles, and advancement in steering wheel technology are major growth drivers of the automotive steering wheel market globally.
Passenger vehicle is expected to remain the most dominant 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 2017 to 2022. 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.
Key market players
Autoliv Inc., Takata Corporation, ZF TRW Automotive Holdings Corp., Key Safety Systems Inc., Nihon Plast Co., Ltd., and Tokai Rika Co. are the well-known steering wheel manufacturers in the automotive industry. Advancement in technology, wide geographical presence, long-term contracts with customers are the key strategies adopted by the key players to gain a competitive edge in the market.
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Stratview Research
Ritesh Gandecha
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sales@stratviewresearch.com
Source: EmailWire.Com 
Source: EmailWire.com
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