Automotive Heated Steering Wheel Market size to grow by 8,494.78 thousand units; The rise in auto sales in colder regions to boost market growth - Technavio

NEW YORK, May 26, 2023 /PRNewswire/ -- The automotive heated steering wheel market size is forecast to increase by 8,494.78 thousand units from 2022 to 2027, at a CAGR of 4.51%, according to the recent market study by Technavio. The growth of the market will be driven by the increase in comfort while driving, increase in demand for luxury cars, and rise in auto sales in colder regions. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Technavio has extensively analyzed 15 major vendors, including Autoliv Inc., Bombardier Recreational Products Inc., Gentherm Inc., Hammacher Schlemmer and Co. Inc., I.G. Bauerhin GmbH, Joyson Safety Systems Aschaffenburg GmbH, Seco Komos, Soucy Holding Inc., Symtec Inc., Toyoda Gosei Co. Ltd., ZF Friedrichshafen AG, and Polaris Inc.

Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Automotive Heated Steering Wheel Market - Segmentation Analysis

This automotive heated steering wheel market report extensively covers market segmentation by application (passenger cars and commercial vehicles), end-user (OEMs and aftermarket), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

• The market share growth by the passenger cars segment will be significant for overall market growth during the forecast period. The global market for heated steering wheels for automobiles is dominated by passenger cars due to the rising demand for light vehicles and rising disposable income, particularly in emerging economies. Furthermore, the market's expansion is anticipated to be aided by rising consumer interest in improving the interior of vehicles and a focus on installing steering-wheel-mounted controls and safety features like driver airbags. Hence, these factors are anticipated to accelerate the market segment growth during the forecast period.

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Automotive Heated Steering Wheel Market - Market Dynamics

Key Drivers

• The rise in auto sales in colder regions notably drives the automotive heated steering wheel market growth.
• By using thermoelectric technology, the heated steering wheel warms the driver during cold weather conditions. 
• It improves the comfort of those who travel long distances by car but other factors besides comfort are also contributing to the market's expansion.
• Furthermore, the market growth is being fueled by the rise in automobile sales in colder regions.
• Also, it should be noted that sales of lightweight vehicles are growing more quickly in colder regions like Europe.
• Hence, such factors drive the automotive heated steering wheel market growth during the forecast period.

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Significant Trends

• Aluminum extrusion technology advancements in heated steering wheels are an emerging trend in the market growth. 
• The heated steering wheel performs better and lasts longer as aluminum and polymers adhere to each other very well.
• Resultantly, heated steering wheels made of aluminum have many advantages over those made of traditional heated steering wheels. 
• For instance, the use of aluminum in steering wheel design enables a reduction in overall weight, making them perfect for vehicles with electric drivetrains.
• Moreover, the main advantage of aluminum over stainless steel is its lightweight, which makes it perfect for reducing system weight.
• Hence, such factors will have a positive influence on the global market during the forecast period.

Major Challenges

• The high cost of steering system production is a major challenge that may hinder the market growth of automotive heated steering wheels. 
• The price of steering systems has gone up in line because of the price of creating, maintaining, and designing steering system technologies.
• Moreover, recent price increases have been seen in plastic, steel, and electronic components used in steering system production.
• Additionally, the costs include those related to manufacturing, such as the price of raw materials, labor costs, scrap, and rework, as well as those related to customers, such as warranties, lost vehicle sales, and low levels of customer satisfaction.
• Hence, such challenges impede the market growth during the forecast period.

What are the key data covered in this Automotive Heated Steering Wheel Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the automotive heated steering wheel market between 2023 and 2027
• Precise estimation of the size of the automotive heated steering wheel market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the automotive heated steering wheel market across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of automotive heated steering wheel market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (thousand units)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (thousand units)
• Exhibit 16: Chart on Global Market- Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market- Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global automotive heated steering wheel market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global automotive heated steering wheel market 2017 - 2021 (thousand units)

• 4.2 Application Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 (thousand units)

• 4.3 End-user Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 (thousand units)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 (thousand units)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (thousand units)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Passenger cars - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Passenger cars - Market size and forecast 2022-2027 (thousand units)
• Exhibit 35: Data Table on Passenger cars - Market size and forecast 2022-2027 (thousand units)
• Exhibit 36: Chart on Passenger cars - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Passenger cars - Year-over-year growth 2022-2027 (%)

• 6.4 Commercial vehicles - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Commercial vehicles - Market size and forecast 2022-2027 (thousand units)
• Exhibit 39: Data Table on Commercial vehicles - Market size and forecast 2022-2027 (thousand units)
• Exhibit 40: Chart on Commercial vehicles - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Commercial vehicles - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Application 
• Exhibit 42: Market opportunity by Application (thousand units)
• Exhibit 43: Data Table on Market opportunity by Application (thousand units)

7 Market Segmentation by End-user

• 7.1 Market segments
• Exhibit 44: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 45: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 46: Chart on Comparison by End-user
• Exhibit 47: Data Table on Comparison by End-user

• 7.3 OEMs - Market size and forecast 2022-2027 
• Exhibit 48: Chart on OEMs - Market size and forecast 2022-2027 (thousand units)
• Exhibit 49: Data Table on OEMs - Market size and forecast 2022-2027 (thousand units)
• Exhibit 50: Chart on OEMs - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on OEMs - Year-over-year growth 2022-2027 (%)

• 7.4 Aftermarket - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Aftermarket - Market size and forecast 2022-2027 (thousand units)
• Exhibit 53: Data Table on Aftermarket - Market size and forecast 2022-2027 (thousand units)
• Exhibit 54: Chart on Aftermarket - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Aftermarket - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by End-user 
• Exhibit 56: Market opportunity by End-user (thousand units)
• Exhibit 57: Data Table on Market opportunity by End-user (thousand units)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 63: Chart on APAC - Market size and forecast 2022-2027 (thousand units)
• Exhibit 64: Data Table on APAC - Market size and forecast 2022-2027 (thousand units)
• Exhibit 65: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 (thousand units)
• Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 (thousand units)
• Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 71: Chart on North America - Market size and forecast 2022-2027 (thousand units)
• Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 (thousand units)
• Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 75: Chart on South America - Market size and forecast 2022-2027 (thousand units)
• Exhibit 76: Data Table on South America - Market size and forecast 2022-2027 (thousand units)
• Exhibit 77: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 (thousand units)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 (thousand units)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 83: Chart on China - Market size and forecast 2022-2027 (thousand units)
• Exhibit 84: Data Table on China - Market size and forecast 2022-2027 (thousand units)
• Exhibit 85: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 (thousand units)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 (thousand units)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Japan - Market size and forecast 2022-2027 (thousand units)
• Exhibit 92: Data Table on Japan - Market size and forecast 2022-2027 (thousand units)
• Exhibit 93: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 India - Market size and forecast 2022-2027 
• Exhibit 95: Chart on India - Market size and forecast 2022-2027 (thousand units)
• Exhibit 96: Data Table on India - Market size and forecast 2022-2027 (thousand units)
• Exhibit 97: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.12 South Korea - Market size and forecast 2022-2027 
• Exhibit 99: Chart on South Korea - Market size and forecast 2022-2027 (thousand units)
• Exhibit 100: Data Table on South Korea - Market size and forecast 2022-2027 (thousand units)
• Exhibit 101: Chart on South Korea - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on South Korea - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography (thousand units)
• Exhibit 104: Market opportunity by geography (thousand units) - Volume

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 Autoliv Inc.
• Exhibit 111: Autoliv Inc. - Overview
• Exhibit 112: Autoliv Inc. - Product / Service
• Exhibit 113: Autoliv Inc. - Key news
• Exhibit 114: Autoliv Inc. - Key offerings

• 12.4 Bombardier Recreational Products Inc. 
• Exhibit 115: Bombardier Recreational Products Inc. - Overview
• Exhibit 116: Bombardier Recreational Products Inc. - Business segments
• Exhibit 117: Bombardier Recreational Products Inc. - Key offerings
• Exhibit 118: Bombardier Recreational Products Inc. - Segment focus

• 12.5 Gentherm Inc.
• Exhibit 119: Gentherm Inc. - Overview
• Exhibit 120: Gentherm Inc. - Business segments
• Exhibit 121: Gentherm Inc. - Key news
• Exhibit 122: Gentherm Inc. - Key offerings
• Exhibit 123: Gentherm Inc. - Segment focus

• 12.6 Hammacher Schlemmer and Co. Inc. 
• Exhibit 124: Hammacher Schlemmer and Co. Inc. - Overview
• Exhibit 125: Hammacher Schlemmer and Co. Inc. - Product / Service
• Exhibit 126: Hammacher Schlemmer and Co. Inc. - Key offerings

• 12.7 I.G. Bauerhin GmbH
• Exhibit 127: I.G. Bauerhin GmbH - Overview
• Exhibit 128: I.G. Bauerhin GmbH - Product / Service
• Exhibit 129: I.G. Bauerhin GmbH - Key offerings

• 12.8 Joyson Safety Systems Aschaffenburg GmbH 
• Exhibit 130: Joyson Safety Systems Aschaffenburg GmbH - Overview
• Exhibit 131: Joyson Safety Systems Aschaffenburg GmbH - Product / Service
• Exhibit 132: Joyson Safety Systems Aschaffenburg GmbH - Key offerings

• 12.9 Polaris Inc.
• Exhibit 133: Polaris Inc. - Overview
• Exhibit 134: Polaris Inc. - Business segments
• Exhibit 135: Polaris Inc. - Key offerings
• Exhibit 136: Polaris Inc. - Segment focus

• 12.10 Seco Komos
• Exhibit 137: Seco Komos - Overview
• Exhibit 138: Seco Komos - Product / Service
• Exhibit 139: Seco Komos - Key offerings

• 12.11 Soucy Holding Inc.
• Exhibit 140: Soucy Holding Inc. - Overview
• Exhibit 141: Soucy Holding Inc. - Product / Service
• Exhibit 142: Soucy Holding Inc. - Key offerings

• 12.12 Symtec Inc.
• Exhibit 143: Symtec Inc. - Overview
• Exhibit 144: Symtec Inc. - Product / Service
• Exhibit 145: Symtec Inc. - Key offerings

• 12.13 Toyoda Gosei Co. Ltd. 
• Exhibit 146: Toyoda Gosei Co. Ltd. - Overview
• Exhibit 147: Toyoda Gosei Co. Ltd. - Business segments
• Exhibit 148: Toyoda Gosei Co. Ltd. - Key news
• Exhibit 149: Toyoda Gosei Co. Ltd. - Key offerings
• Exhibit 150: Toyoda Gosei Co. Ltd. - Segment focus

• 12.14 ZF Friedrichshafen AG 
• Exhibit 151: ZF Friedrichshafen AG - Overview
• Exhibit 152: ZF Friedrichshafen AG - Business segments
• Exhibit 153: ZF Friedrichshafen AG - Key news
• Exhibit 154: ZF Friedrichshafen AG - Key offerings
• Exhibit 155: ZF Friedrichshafen AG - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 156: Inclusions checklist
• Exhibit 157: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 158: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 159: Research methodology
• Exhibit 160: Validation techniques employed for market sizing
• Exhibit 161: Information sources

• 13.5 List of abbreviations 
• Exhibit 162: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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