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Automotive Heated Steering Wheel Market Size, Share & Industry Analysis, By Type ( Gas Heating, Electric Heating ), By Market Type ( OEM, Aftermarket ), By Vehicle Type ( Passenger Cars, Commercial Vehicles ) and regional Forecast, 2024-2032

Region :Global | Report ID: FBI104100 | Status : Ongoing

 

KEY MARKET INSIGHTS

The automotive heated steering wheel is a comfort feature installed in the vehicle. The heated steering wheel is a replacement of a conventional plastic wheel. There is a resistance coil present inside the steering wheel that converts electrical energy into heat. The heating coil inside the steering wheel heats up in no time and keeps the wheel warm for longer. Usually vehicles have buttons for controlling the temperature of the coil in which the temperature can be adjusted manually as per the requirement. While some vehicles have automatic coils, which generate heat when the driver enter the vehicle. These coils are connected to batteries or any other power source. The heat provides a comfortable ride for the driver during long-distance driving especially in cold conditions. The increase in daily commuting hours increases the time consumers spend in cars, thereby driving the demand for more comfortable features in vehicles. During winters, the cold might affect the driving experience, therefore the automakers provide heated steering wheels in their vehicles to offer comfort and enhance the driving experience. Heated steering wheels are mostly equipped in vehicles launched in North America and Europe owing to the extreme cold weather experienced in these regions. Over the past few years, the demand for improved safety and comfort in luxury cars are growing continuously. Additionally, the consumer demand for customized comfort features such as heated steering wheels continues to increase, thus prompting the automakers to include these features in their high-end cars market segment. However, in the next few years, the automotive companies are estimated to provide these advanced comfort and safety features in less expensive vehicles as well.


Market Segmentation:


Globally, the automotive heated steering wheel market is segmented by type, by market type, by vehicle type, and by geographic coverage. Based on type, the market is further segmented into gas heating and electric heating. The electric heating type holds the largest share in the global market and is expected to further dominate owing to the development of drive by wire. The electric power is converted into heat energy by the converter fitted in the system and is supplied to the coil in the steering wheel which heats up the steering according to the temperature set by the user. The electrical power is usually supplied by batteries or by other means of power sources. The market type is further divided into OEM and aftermarket. The OEM segment holds the major share in the global market owing to the rapid penetration of advanced technologies in the automotive industry. Moreover, the cost-effective way of heating the steering wheel which offers more comfort to the driver during cold temperature is likely to boost the market growth at a significant rate. However, the aftermarket segment is also expected to growth at an exponential rate owing as the aftermarket manufacturers are offering cost effective heated steering wheels with high quality. The vehicle type is further segmented into passenger cars and commercial vehicles. The passenger cars segment holds the major share in the global market and is expected to maintain its dominance over the forecast period. The growing urbanization, improvement in the living standards, and rise in the purchasing power of people is fuelling the growth of passenger car production. Also, the increasing popularity for additional comfort features in cars is expected to create great opportunities for the automotive heated steering wheel market in the passenger car segment.

Key Market Driver -

Increasing demand for safety and comfort features in vehicles is expected to drive the growth of the market in the forecast period.

Key Market Restraint -

Vehicles with advanced HVAC systems may hinder the growth of the market during the forecast period.


Key Players:


Major players operating in the global automotive heated steering wheel market include ZF Friedrichshafen AG, Bombardier Recreational Products Inc., SYMTEC, EMDET Groups, Whelio, Toyoda Gosei Co., Ltd., Autoliv Inc., GENTHERM, Takata Corporation, Ningbo Joyson Electronics Co. Ltd.,, I.G. Bauerhin GmbH, and Polaris Inc. among others.

Key Insights 



  • New Advancements in Automotive Heated Steering Wheel

  • Number of Products, Key Countries, 2019

  • New Product Launches, Key Players


Regional Analysis:


Geographically, the automotive heated steering wheel market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Europe accounts for the major share in the global market as this region experiences extreme cold weather conditions almost for the major part of the year. Moreover, the leading automotive manufacturing companies including Volkswagen, Mercedes-Benz, Porsche, BMW, and Volvo are entering the economy category by reducing the prices to make the product more affordable. North America holds the second largest share in the global market as most of the countries in this region experiences cold temperatures owing to which the demand for heated steering wheel is high in these regions. Asia Pacific shows a steady growth as only few countries in this region lies in cold regions and the adoption of heated steering wheels is less in this region.

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Segmentation


























ATTRIBUTES    

DETAILS        

By Type



  • Gas Heating

  • Electric Heating



By Market Type



  • OEM

  • Aftermarket



By Vehicle Type



  • Passenger Cars

  • Commercial Vehicles



By Geography



  • North America (USA, Canada, and Mexico)

  • Europe (Germany, France, U.K., and Rest of Europe)

  • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)

  • Rest of the World



 





  • Ongoing
  • 2023
  • 2019-2022

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