Automotive Steering Wheel Switch Market : USD 1.8 Billion In 2022 To USD 2.2 Billion By 2032  CAGR Of 2.3%
Automotive Steering Wheel Switch Market : USD 1.8 Billion In 2022 To USD 2.2 Billion By 2032  CAGR Of 2.3% . (MENAFN - EIN Presswire) 
 WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 3, 2024 /EINPresswire / -- Allied Market Research published a report, titled, "Automotive Steering Wheel Switch Market ...
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(MENAFN- EIN Presswire) WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 3, 2024 /EINPresswire / -- Allied Research published a report, titled, "Automotive Steering Wheel Switch Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Vehicle Type, by Sales : Global Opportunity Analysis and Forecast, 2023-2032."



Automotive Steering Wheel Switch Market Research, 2032 :



The global Automotive steering wheel switch market size was valued at $1.8 billion in 2022, and is projected to reach $2.2 billion by 2032, growing at a CAGR of 2.3% from 2023 to 2032.



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Leading Market Players :



Valeo SA

Preh GmbH

ZF Friedrichshafen

ALPS Alpine Co Ltd

Tokai Rika

Standard Motor Products, Inc.

Panasonic Corporation

Delphi Technologies

C&K Components, Inc.

KOSTAL Automobil Elektrik GmbH & Co. KG



Segment Highlights :



On the basis of type the push type button dominated the market share in 2022 due to implementation of various vehicle controls system on steering wheels such as cruise control, driver assistance, and infotainment features. Push type buttons enable easy integration and space savings for these controls thus optimizing steering wheel layout. Moreover, they are cheaper to install and easier to operate while driving, hence, modern automobiles manufactures are increasingly using push type buttons.



On the basis of vehicle type the passenger vehicle segment dominated the market share in 2022, owing to the growing urbanization and rising population in cities, thus driving the need for personal mobility solutions. Additionally, changing consumer preferences and growing disposable income contribute to the growing demand for passenger cars. Furthermore, rising environmental concerns toward reducing emissions from vehicles are resulting in increasing demand for electric and other alternative fuel vehicles, further contributing to the growth of the market.



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Based on sales channel the aftermarket segment dominated the market share in 2022, owing to increasing demand for repair and maintenance of old steering wheel switches. Moreover, the ageing vehicle fleet on roads requires continuous upgrades and replacement of older switches. Furthermore, the replacement of steering wheel switches from the aftermarket is more cost-effective as compared to OEM, thus contributing to the growth in market demand.



Regional Outlook :



The growing population and increasing disposable income in the developing countries such as India, Mexico, Indonesia, and China have resulted in increase in sales and production of passenger vehicles segment. Similarly, these countries are witnessing strong urbanization. Thus, the growing population in metro cities is creating more demand for personal mobility solutions, resulting in increased adoption of passenger vehicles. Furthermore, modern vehicles are often equipped with technologies such as infotainment, ADAS, and cruise control for improved safety and convenience; thus, the rising integration of advanced technologies is resulting in driving the demand for automotive steering wheels in these countries.



Recent Development :



On November 12, 2023, Preh GmbH introduced a new Preh control lever, a customized motorized drive lever system. The new MDL system is designed to replace the conventional steering wheel in the cockpit system, especially in agricultural machinery. The new Preh control lever facilitates the implementation of a wide range of functions, including acceleration, deceleration, and steering, as well as supports autonomous driving. The function can be adjusted by pressing a button on the armrest; this modular system can be integrated into any vehicle type, thus making it more versatile and providing a completely new user experience.



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About us :



Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.



We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research

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2024-12-02
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(MENAFN - EIN Presswire) 
 WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 3, 2024 /EINPresswire / -- Allied Market Research published a report, titled, "Automotive Steering Wheel Switch Market ...
Automotive Steering Wheel Switch Market : USD 1.8 Billion In 2022 To USD 2.2 Billion By 2032  CAGR Of 2.3%