Global Automotive Heated Steering Wheel Market Overview
As per MRFR analysis, the Automotive Heated Steering Wheel Market Size was estimated at 1.69 (USD Billion) in 2022. The Automotive Heated Steering Wheel Market Industry is expected to grow from 1.81(USD Billion) in 2023 to 3.2 (USD Billion) by 2032. The Automotive Heated Steering Wheel Market CAGR (growth rate) is expected to be around 6.57% during the forecast period (2024 - 2032).
Key Automotive Heated Steering Wheel Market Trends Highlighted
The Automotive Heated Steering Wheel Market is gaining traction, driven by increasing consumer demand for enhanced comfort and convenience. Advancements in technology have led to more efficient and durable heating systems that provide optimal warmth and heat distribution. Additionally, the integration of heated steering wheels with advanced safety features, such as hands-free driving, is creating new growth opportunities.
Key market trends include the rising popularity of luxury and premium vehicles, which often feature heated steering wheels as a standard or optional amenity. The increasing adoption of electric vehicles is also driving demand for heated steering wheels, as they offer a more comfortable driving experience in cold weather conditions. Furthermore, the growing trend towards connected cars and smart features is expected to further fuel the market growth, as heated steering wheels can be integrated with smartphone apps and voice controls for enhanced convenience.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Heated Steering Wheel Market Drivers
Increasing Demand for Comfort and Convenience Features in Vehicles
Consumers are increasingly demanding vehicles with advanced comfort and convenience features, including heated steering wheels. Heated steering wheels provide warmth and comfort during cold weather conditions, making driving more enjoyable and less stressful. This growing demand for comfort features is a major driver of the Automotive Heated Steering Wheel Market industry. Additionally, the rising popularity of luxury and premium vehicles, which often include heated steering wheels as standard equipment, is further contributing to the growth of the market.
Technological Advancements and Innovations
Technological advancements and innovations are continuously improving the functionality and performance of heated steering wheels. For instance, some heated steering wheels now offer adjustable temperature settings, allowing drivers to customize the level of warmth to their preference. Other advanced features include integrated sensors that automatically adjust the temperature based on ambient conditions. These technological advancements enhance the user experience and contribute to the growth of the Automotive Heated Steering Wheel Market industry.
Government Regulations and Safety Standards
Automotive heated steering wheel market growth is propelled by government regulations and safety standards regarding vehicle safety and comfort. Using a heated steering wheel enhances driver comfort and avoids accidents in cold weather, whether icy or chilly. This hand-safe device allows the driver to maintain a stronger grip on the wheel, and it may also help to keep the attention away from the cold hands. Hence heated steering wheels are being made compulsory in governments which is fuelling the market growth.
Automotive Heated Steering Wheel Market Segment Insights:
Automotive Heated Steering Wheel Market Type Insights
The Automotive Heated Steering Wheel Market is segmented by Type into Capacitive Steering Wheels, Resistive Steering Wheels, and Infrared Steering Wheels. Capacitive Steering Wheels are expected to hold the leading place in the coming years. These steering wheels use a network of electrodes to tell whether a driver’s hands are present on the given steering. Such a design allows the heating system to be more precise and thus allows you to reach the comfortable feeling of the driving. Resistive Steering Wheels possesses the resistive element to produce heat.They are less expensive than Capacitive Steering Wheels, but provide a less effective heating.
Lastly, Infrared Steering Wheel is the most expensive of the three and applies infrared radiation to heat the steering wheel. However, this steering wheel is the one to provide the most even and consistent heating. The revenue of the Automotive Heated Steering Wheel Market is expected to rise from USD 1.81 billion in 2023 to USD 3.2 billion in 2032. The market growth is supported by the increasing need for the luxury and comfort features of vehicles.The market is also expected to gain profits through the development of the electric cars as such cars lose effectiveness in shortening battery time in cold weather.
The Automotive Heated Steering Wheel Market region segmentation is as follows: North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to hold its position of the leading market due to the general need of luxury vehicles in the given region. The Asia-Pacific is expected to be the fastest growing market since the need for the heated steering wheel is of higher need in the cold countries such as China and Japan.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Heated Steering Wheel Market Vehicle Class Insights
The Vehicle Class segment is a crucial factor in the Automotive Heated Steering Wheel Market segmentation. Luxury cars lead the market with a significant market share due to the premium features and comfort they offer. Mid-range cars follow closely, driven by the increasing demand for heated steering wheels as a standard feature. Economy cars are expected to witness steady growth, as manufacturers focus on providing affordable luxury features to budget-conscious consumers. SUVs and crossovers have gained popularity in recent years, and the demand for heated steering wheels in these vehicles is expected to grow substantially. Trucks, on the other hand, represent a smaller market share but offer significant growth potential as heated steering wheels enhance comfort and safety during winter driving conditions.
Automotive Heated Steering Wheel Market Power Source Insights
The Automotive Heated Steering Wheel Market segmentation by Power Source into 'Vehicle Battery' and 'Alternator' is a crucial aspect of the market analysis. The 'Vehicle Battery' segment held a dominant market share in 2023, owing to its wider adoption in vehicles across various segments. The Automotive Heated Steering Wheel Market revenue from 'Vehicle Battery'-powered heated steering wheels is projected to grow at a CAGR of 6.3% during 2023-2032, reaching USD 1.97 billion by 2032. The 'Alternator' segment is anticipated to witness a moderate growth rate over the forecast period due to its increasing use in commercial vehicles.
The Automotive Heated Steering Wheel Market data suggests that the 'Alternator' segment is expected to generate a revenue of USD 1.23 billion by 2032, growing at a CAGR of 5.7%. These insights are crucial for market participants to understand the dynamics and growth potential of each segment in the Automotive Heated Steering Wheel Market industry.
Automotive Heated Steering Wheel Market Temperature Range Insights
The Temperature Range segment is a crucial aspect of the Automotive Heated Steering Wheel Market, with distinct temperature ranges catering to diverse climatic conditions. The Low Temperature Range (0-25 degrees Celsius) holds a significant market share, particularly in regions with colder climates, where heated steering wheels provide enhanced comfort and safety during winter months.
The Medium Temperature Range (25-45 degrees Celsius) also represents a substantial market segment, encompassing regions with moderate temperatures. It offers versatility, providing warmth during chilly mornings or evenings while avoiding excessive heat in warmer conditions.The High Temperature Range (45-65 degrees Celsius) caters to regions with extreme heat, where heated steering wheels can provide relief from scorching temperatures, especially during summer months. Understanding the temperature range preferences and variations across different regions is essential for manufacturers to tailor their product offerings and capture specific market segments.
Automotive Heated Steering Wheel Market Features Insights
The Automotive Heated Steering Wheel Market is segmented on the basis of features into Temperature Control, Built-in Sensors, Ergonomic Design, and Safety Features. The Temperature Control segment is expected to hold the largest share of the market in 2023. This is due to the increasing demand for vehicles with comfortable and convenient features. The Built-in Sensors segment is also expected to grow significantly in the coming years, as it offers advanced safety and convenience features. The Ergonomic Design segment is expected to grow steadily, as it helps to reduce driver fatigue and discomfort.
The Safety Features segment is also expected to grow significantly, as it offers features such as lane departure warning and automatic emergency braking.
Automotive Heated Steering Wheel Market Regional Insights
The Automotive Heated Steering Wheel Market is segmented into North America, Europe, APAC, South America, and MEA. North America is expected to hold the largest market share in 2023, owing to the presence of major automotive manufacturers and high demand for luxury vehicles. Europe is expected to be the second-largest market, followed by APAC. The APAC region is expected to witness significant growth in the coming years, due to the rising disposable income and increasing demand for premium vehicles. South America and MEA are expected to witness steady growth in the coming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Heated Steering Wheel Market Key Players And Competitive Insights:
Major players in Automotive Heated Steering Wheel Market are focusing on technological advancements and product innovation to gain a competitive edge. They are also expanding their product portfolios by introducing a wide range of heated steering wheels with different features to meet the evolving demands of consumers. Leading Automotive Heated Steering Wheel Market players are also investing in research and development activities to improve the performance and efficiency of their products. Moreover, they are adopting strategic partnerships and collaborations with other companies to enhance their market reach and gain access to new technologies.
The Automotive Heated Steering Wheel Market is expected to witness significant growth in the coming years due to increasing consumer preference for comfort and convenience features in vehicles. Market players are constantly striving to improve their product offerings and strengthen their position in the industry.One of the leading companies in the Automotive Heated Steering Wheel Market, for example, Gentherm Incorporated, is known for its innovative heating technologies. The company offers a wide range of heated steering wheels with advanced features such as temperature control, rapid heating, and ergonomic design. It has a strong global presence and supplies its products to major automotive manufacturers. Gentherm is committed to providing high-quality products and customized solutions to meet the specific needs of its customers. The company's focus on innovation and customer satisfaction has helped it maintain its position as a leader in the Automotive Heated Steering Wheel Market.
Another key player in the Automotive Heated Steering Wheel Market, Lear Corporation, is known for its expertise in automotive seating and electrical systems. The company offers a range of heated steering wheels with features such as multi-zone heating, customizable temperature settings, and soft-touch materials. Lear Corporation has a global manufacturing network and supplies its products to a wide range of automotive brands. The company's focus on quality and customer service has enabled it to become a preferred supplier for many leading automakers. Lear Corporation is actively involved in research and development to enhance the functionality and performance of its heated steering wheels, ensuring that it remains a strong competitor in the Automotive Heated Steering Wheel Market.
Key Companies in the Automotive Heated Steering Wheel Market Include:
- Continental
- BorgWarner
- Hyundai Mobis
- Valeo
- Lear
- ZF Friedrichshafen
- Yazaki
- DENSO
- Faurecia
- Autoliv
- TS Tech
- Aptiv
- Johnson Controls
- Magna International
- Tomita Technologies
Automotive Heated Steering Wheel Market Industry Developments
The Automotive Heated Steering Wheel Market is anticipated to exhibit steady growth over the forecast period of 2024-2032, owing to rising demand for enhanced comfort and safety features in vehicles. Growing consumer preference for premium vehicles with advanced amenities is expected to drive market expansion. Technological advancements, such as the integration of sensors and haptic feedback, are further augmenting market growth.
Key industry players are focusing on strategic partnerships and collaborations to expand their product offerings and cater to evolving consumer demands. Recent news developments include the launch of heated steering wheels with temperature control systems and the integration of advanced safety features such as lane departure warning systems. These developments are expected to shape the future of the automotive heated steering wheel market, enhancing user experience and driving market expansion.
Automotive Heated Steering Wheel Market Segmentation Insights
Automotive Heated Steering Wheel Market Type Outlook
- Capacitive Steering Wheels
- Resistive Steering Wheels
- Infrared Steering Wheels
Automotive Heated Steering Wheel Market Vehicle Class Outlook
- Luxury Cars
- Mid-Range Cars
- Economy Cars
- SUVs and Crossovers
- Trucks
Automotive Heated Steering Wheel Market Power Source Outlook
- Vehicle Battery
- Alternator
Automotive Heated Steering Wheel Market Temperature Range Outlook
- Low Temperature Range (0-25 degrees Celsius)
- Medium Temperature Range (25-45 degrees Celsius)
- High Temperature Range (45-65 degrees Celsius)
Automotive Heated Steering Wheel Market Features Outlook
- Temperature Control
- Built-in Sensors
- Ergonomic Design
- Safety Features
Automotive Heated Steering Wheel Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
1.69 (USD Billion) |
| Market Size 2023 |
1.81 (USD Billion) |
| Market Size 2032 |
3.2 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
6.57% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Continental, BorgWarner, Hyundai Mobis, Valeo, Lear, ZF Friedrichshafen, Yazaki, DENSO, Faurecia, Autoliv, TS Tech, Aptiv, Johnson Controls, Magna International, Tomita Technologies |
| Segments Covered |
Type, Vehicle Class, Power Source, Temperature Range, Features, Regional |
| Key Market Opportunities |
Enhanced comfort and safety Growing popularity of luxury vehicles Growing demand for automotive electronics Technological advancements Increasing focus on sustainability |
| Key Market Dynamics |
Rising consumer preferenceTechnological advancementsIncreasing disposable incomeGrowth in luxury car salesGovernment regulations |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Automotive Heated Steering Wheel Market is expected to reach a valuation of 3.2 billion USD by 2032, growing at a CAGR of 6.57% from 2024 to 2032.
North America is expected to dominate the Automotive Heated Steering Wheel Market due to increasing vehicle production and rising disposable income.
Growing demand for luxury and comfort features, increasing safety concerns, and technological advancements are driving the growth of the Automotive Heated Steering Wheel Market.
Major players in the Automotive Heated Steering Wheel Market include BorgWarner, Takata, TRW Automotive, and Autoliv.
Automotive Heated Steering Wheels find applications in various vehicle segments, including passenger cars, light commercial vehicles, and heavy-duty vehicles.
Key trends impacting the Automotive Heated Steering Wheel Market include the integration of advanced technologies, increasing demand for autonomous vehicles, and growing focus on safety and comfort.
The Automotive Heated Steering Wheel Market is projected to grow at a CAGR of 6.57% from 2024 to 2032.
Challenges faced by the Automotive Heated Steering Wheel Market include high production costs, stringent government regulations, and intense competition.
Opportunities for growth in the Automotive Heated Steering Wheel Market include technological advancements, increasing vehicle production, and rising demand for luxury features.
Technology is impacting the Automotive Heated Steering Wheel Market by enabling the integration of advanced features such as temperature control, haptic feedback, and connectivity.
