Steering Wheel Switches Market: Key Players, Growth Potential Analysis and Forecasts Report 2025
Category: #business  By Ronak Bora  Date: 2021-08-09
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Steering Wheel Switches Market: Key Players, Growth Potential Analysis and Forecasts Report 2025

The efforts by prominent industry contenders is anticipated to majorly drive Europe steering wheel switches market size, that is projected to surpass USD 1 billion during forecasted period. In addition, the region is characterized by stringent regulations focusing on bettering driver safety, which would further bolster the industry outlook.

Original equipment manufacturers are able to offer unique and customized designs for steering wheel switches that are amply suited to the customer’s specific desires. Also, OEMs have greater capacity for investing heavily in innovation that would lead to better steering wheel designs. As per estimates, steering wheel switches indsustry size from OEMs is anticipated to register a remuneration of more than USD 3 billion by 2024.

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With the automotive industry adhering increased importance to the driver’s comfort and convenience,  steering wheel switches market size is projected to witness massive growth in the years ahead, in terms of sales and volume. Traditionally, these wheels were designed only with one button for honking. However, with consumers demanding increased functionality in the car such as controls for playing music and handsfree talking on the phone, steering wheels have come to include more switches.

For most part, additional switches help the driver operate different functions without having to get distracted from driving, thus helping to prevent accidents. Steering wheel switches are more prevalent in passenger vehicles and light commercial vehicles, though they are also gaining prominence in heavy commercial vehicles. Owing to the comfort and functionality that these switches provide, automotive industry players are looking forward to incorporating more such switches in the steering wheel with varied styles, which would eventually boost steering wheel switches market trends.

It is imperative to mention that in the countries where the demand for luxury cars are greater, such as Germany, Italy, UK, and France, steering wheel switches industry giants have designed wheels to accommodate as many as 10 switches. This trend has been followed in mid-range cars as well, with switches like infotainment, phone connectivity and volume control that can keep drivers from operating the distracting touchscreen for any kind of function control.

Many auto manufacturers are also adding a joystick-like push button controller on the left of the steering wheel, which is intuitive and can be operated without the driver having to seek out the touchscreen display first. The rising demand for such easily functional switches will indeed boost the steering wheel switches market share.

Though the growth prospects of steering wheel switches industry are indeed impressive, it is expected that the emergence of autonomous vehicles technology and innovative cars that may come without steering wheels may hinder the steering wheel switches market progress. Nonetheless, it has been forecast that driverless cars would take a while to go mainstream, on the grounds of which it is justified to state that steering wheel switches industry would continue to experience an exponential growth graph in the ensuing years.

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Some Point from Table of Contents:

Chapter 4.   Steering Wheel Switches Market, By Vehicle (Revenue, Shipments)

4.1.  Key trends by vehicle

4.1.1. PCV

4.1.1.1.    Market estimates and forecast, 2013 - 2025

4.1.2. LCV

4.1.2.1.    Market estimates and forecast, 2013 - 2025

4.1.3. HCV

4.1.3.1.    Market estimates and forecast, 2013 – 2025

Chapter 5.   Steering Wheel Switches Market, By Product (Revenue, Shipments)

5.1.  Key trends by product  77

5.1.1. Push

5.1.1.1.    Market estimates and forecast, 2013 - 2025

5.1.2. See-saw

5.1.2.1.    Market estimates and forecast, 2013 - 2025

Browse complete Table of Contents (ToC) of this research report @

https://www.decresearch.com/toc/detail/steering-wheel-switches-market

 

 

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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