Steering Wheel Switches Market worth over USD 9 billion by 2024

1
Steering Wheel Switches Market to cross 500
million units by 2024
2
Key Insights from Steering Wheel Switches Market

• Global steering wheel switches market share is
  expected to cross 500 million units by 2024.
  Applications such as telephone, ADAS,
  infotainment, and onboard computer is enhancing
  the number of switches to be employed on the
  steering wheels.
• Increasing demand for luxury and sports cars is
  driving the steering wheel switches market growth
  rate over the forecast timespan. Each of these
  cars employ approximately 10 switches on the
  steering wheel. In addition, reduced size of
  buttons enables to incorporate more number of
  switches on the steering wheels.
• Seesaw buttons is projected to exhibit over 3
  CAGR over the study period. This can be credited
  to its usage in operating cruise and audio
  functions. Increasing consumer preferences for
  infotainment while travelling is boosting the
  segment growth over the forecast timeframe.
• Automobile manufacturers have analyzed that
  incorporating various controls on the drivers
  fingertips will support in minimizing road
  accidents. Increasing safety features will
  support the steering wheel switches market size
  over the projected period.

3
Continued...

• Increasing technological advancements such as
  usage of optical sensors in the vehicle may
  reduce the number of buttons to be employed
  thereby hampering the steering wheel switches
  market size. Moreover, industry participants are
  engaged in RD to develop an automated car
  without steering wheels.
• Passenger cars will pose a CAGR of 4 in the
  steering wheel switches market over the forecast
  timeframe. This can be attributed to rising
  number of applications incorporated along with
  increasing interest of consumers in premium and
  sports cars. LCVs segment is significantly
  contributing in the industry revenue generation
  owing to its high demand in national goods
  transportation.
• OEMs is expected to generate over USD 3 billion
  by 2024. The segment holds maximum share due to
  increasing automobile manufacturing across the
  globe. Rising disposable income enables the
  consumers to customize several functions in their
  vehicle resulting in improved steering wheel
  switches market growth rate.

4

Latest Research Report On Steering Wheel Switches
Market _at_ https//www.gminsights.com/industry-analy
sis/steering-wheel-switches-market Request
for a sample of this research report
_at_ https//www.gminsights.com/request-sample/detail
/2374
5
U.S. Steering Wheel Switches Market, By Vehicle,
2016 2024, (USD Million)

6
Major Companies in Steering Wheel Switches Market

• ALPS
• Valeo
• Delphi
• DAsESUNG
• Panasonic Automotive
• Tokai Rika
• Fangxiang
• Vimercati
• COBO International
• Aptiv, and Marquardt

7
Industry Coverage

8
Regional Insights in Steering Wheel Switches
Market

• Europe steering wheel switches market size is
  expected to generate more than USD 1 billion by
  2024. This can be attributed to presence of major
  automobile manufacturing companies in the region
  coupled with stringent regulations to enhance
  driver safety.
• Asia Pacific is predicted to hold around 40 of
  the industrys volume share in 2024. Rising
  automobile production across the region,
  especially in emerging economies such as India
  and China are driving the industry growth.

9
Stay In Touch Website www.gminsights.com Soci
al Media