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Automotive Heated Steering Wheel Market to Grow by 470 Thousand Units During 2020-2024 | Rising Demand for Luxury Cars to Boost Growth | Technavio

·6-min read

Technavio has been monitoring the automotive heated steering wheel market and it is poised to grow by 0.47 million units during 2020-2024, progressing at a CAGR of about 1% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201203006048/en/

Technavio has announced its latest market research report titled Global Automotive Heated Steering Wheel Market 2020-2024 (Graphic: Business Wire)

For a More Detailed Analysis, Get a Free Sample Report Delivered in a Minute

Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the automotive heated steering wheel market. The market growth in 2020 is likely to decrease compared to the market growth in 2019.

Frequently Asked Questions:

  • Based on segmentation by end-user, which is the leading segment in the market?
    The OEM segment led the market in 2019.

  • What are the major trends in the market?
    The rising demand for luxury cars is the key trend in the market.

  • At what rate is the market projected to grow?
    The market is projected to grow at a CAGR of about 1% during 2020-2024.

  • Who are the top players in the market?
    Autoliv Inc., Bombardier Recreational Products Inc., Gentherm Inc., I.G. Bauerhin GmbH, Ningbo Joyson Electronics Co. Ltd., Polaris Inc., SECO, SYMTEC, Toyoda Gosei Co. Ltd., and ZF Friedrichshafen AG are the top players in the market.

  • What are the key market drivers and challenges?
    The market is driven by the increased driving comfort offered by heated steering wheels. However, the slowdown in automobile manufacturing will challenge growth.

  • How big is the North American market?
    North America contributed about 70% of the market growth in 2019.

Related Reports on Consumer Discretionary Include:

Global Automotive Steering Wheel Market - Global automotive steering wheel market is segmented by application (Passenger cars and Commercial vehicles) and geography (APAC, North America, Europe, South America, and MEA). Click Here to Get an Exclusive Free Sample Report

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The market is concentrated, and the degree of concentration will accelerate during the forecast period. Autoliv Inc., Bombardier Recreational Products Inc., Gentherm Inc., I.G. Bauerhin GmbH, Ningbo Joyson Electronics Co. Ltd., Polaris Inc., SECO, SYMTEC, Toyoda Gosei Co. Ltd., and ZF Friedrichshafen AG are some of the major market participants. Although the increased driving comfort will offer immense growth opportunities, the slowdown in automobile manufacturing is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this automotive heated steering wheel market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Automotive Heated Steering Wheel Market 2020-2024: Segmentation

Automotive Heated Steering Wheel Market is segmented as below:

  • End-user

    • OEM

    • Aftermarket

  • Geography

    • North America

    • APAC

    • Europe

    • South America

    • MEA

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Automotive Heated Steering Wheel Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The automotive heated steering wheel market report covers the following areas:

  • Automotive Heated Steering Wheel Market Size

  • Automotive Heated Steering Wheel Market Trends

  • Automotive Heated Steering Wheel Market Industry Analysis

This study identifies the increase in demand for luxury cars as one of the prime reasons driving the Automotive Heated Steering Wheel Market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Automotive Heated Steering Wheel Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist automotive heated steering wheel market growth during the next five years

  • Estimation of the automotive heated steering wheel market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the automotive heated steering wheel market

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of automotive heated steering wheel market vendors

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem

  • Value chain analysis

Market Sizing

  • Market definition

  • Market segment analysis

  • Market size 2019

  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five force summary

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

Market Segmentation by End-user

  • Market segments

  • Comparison by End-user

  • OEM - Market size and forecast 2019-2024

  • Aftermarket - Market size and forecast 2019-2024

  • Market opportunity by End-user

Customer landscape

Geographic Landscape

  • Geographic segmentation

  • Geographic comparison

  • North America - Market size and forecast 2019-2024

  • APAC - Market size and forecast 2019-2024

  • Europe - Market size and forecast 2019-2024

  • South America - Market size and forecast 2019-2024

  • MEA - Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity by geography

  • Market drivers

  • Market challenges

  • Market trends

Vendor Landscape

  • Overview

  • Vendor landscape

  • Landscape disruption

Vendor Analysis

  • Vendors covered

  • Market positioning of vendors

  • Autoliv Inc.

  • Bombardier Recreational Products Inc.

  • Gentherm Inc.

  • I.G. Bauerhin GmbH

  • Ningbo Joyson Electronics Co. Ltd.

  • Polaris Inc.

  • SECO

  • SYMTEC

  • Toyoda Gosei Co. Ltd.

  • ZF Friedrichshafen AG

Appendix

  • Scope of the report

  • Currency conversion rates for US$

  • Research methodology

  • List of abbreviations

About Us

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201203006048/en/

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/