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Steering Wheel Switches Market Size, By Vehicle, By Sales Channel, By Product, By Application, Growth Forecast 2025 – 2034
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Steering Wheel Switches Market
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Premium Report Details
Base Year: 2024
Companies covered: 20
Tables & Figures: 180
Countries covered: 21
Pages: 170
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Steering Wheel Switches Market Size
The global steering wheel switches market size was valued at USD 3.4 billion in 2024 and is estimated to register a CAGR of 1.8% between 2025 and 2034. Safety on the roads is an important issue globally but more accentuated in the developed countries such as the U.S. and Europe, where motor vehicle collisions lead to a considerable number of deaths and injuries.
Due to high administrative and social media influence, combined with high console buying power in the United States, there is a high inclination towards new age safety technologies which induces manufacturers to embed advanced safety systems and driver-assist technologies in their vehicles. Such new technologies are not only necessary with the increasing need for safer modes of transport but also enhance the revenue growth of the steering wheel switches market.
Due to the rising focus on driver protection, the automotive industry is actively incorporating steering wheel electronics to reduce driver distractions and improve efficiency. Such functions have multiple functions and are easier to access without taking the eyes off the road. The implementation of multi-functional steering wheel controls in place of individual buttons not only increases the comfort of the user but also addresses the safety issue. Such an approach is in line with the changes in the automotive sector especially with design alterations and rapid acceptance of electric vehicles. Statista forecasts that by 2025, the market for electric vehicles will exceed $828.6 billion in revenue.
Steering Wheel Switches Market Trends
The growing number of vehicles globally, including passenger cars, commercial cars and electric cars have boosted the growth of automotive components industry. As of 2020, there were an estimated 1.42 billion cars across the globe and according to Statista, a car can have 30000 components, all of which still require ample amounts to be sourced from suppliers. India has also surpassed as one of the largest automobile manufacturing countries leading to a rapid increase in demand for automotive components.
During the year of 2024, India was able to manufacture around 4.9 million passenger vehicles and this number was accompanied by a large number of exports as well. The automotive part and equipment manufacturing sector has also quickly started to develop and emerges as a crucial sector within the international automotive market.
As tools and devices aid in the expansion of the electric and hybrid vehicle manufacturing, the commitment towards sustainable practices also sees an upward shift. To bolster the safety and efficiency of vehicles a variety of advanced components have to be produced which include the steering switches, sensor incorporated systems etc, and so on. The integration of IoT enabled sensors and communication modules have also recently begun to be incorporated into vehicles providing more intelligent systems via smart technology.
One of the major challenges facing the steering wheel switches market, is the growing adoption of automotive touchscreen displays. There is a growing trend of modern vehicles including touchscreen displays in the dashboard and the central console instead of mechanical buttons and switches, such as touchscreens. Vehicles functionality like maps, entertainment systems, air conditioners, and many others, can all be controlled from a single device. The trend of switching over to touch screen interfaces do away with the requirement of buttons, which also include steering wheel switches.
Steering Wheel Switches Market Analysis
Based on vehicle, the market is divided into passenger vehicles and commercial vehicles. In 2024 passenger vehicle segment held a market share of over 60% and is expected to cross USD 2.5 billion by 2034.
Based on sales channel, the steering wheel switches market is categorized into OEM and aftermarket. The OEM segment held a market share of 64% in 2024.
Based on product, the steering wheel switches market is divided into push and see-saw. In 2024 the push segment was reached USD 1.9 billion.
Based on applications, the steering wheel switches market is divided into infotainment controls, audio controls, cruise control, phone control, and others. The information controls segment is projected to grow at a CAGR of over 2.5% during 2025 to 2034.
Steering Wheel Switches Market Share
Valeo, ZF Friedrichshafen, Toyota Motor, Nissan Motor, Hyundai Motor, Continental, and TOKAI RIKA hold a significant market share of over 42% in the steering wheel switches industry.
Steering Wheel Switches Market Companies
Major players operating in the steering wheel switches industry include:
The market for steering wheel switches showcases a dual landscape of international and regional vendors, with pronounced regional segmentation enabling manufacturers to address varied customer demands. International competitors maintain their lead through strategic acquisitions and the expansion of diversified product portfolios that cater to a wide range of vehicle segments, including passenger cars, commercial vehicles, and luxury automobiles. Their emphasis on integrating advanced technologies, such as multi-functional controls and ergonomic designs, has strengthened their position in the global market.
Regional players, meanwhile, continue to operate actively by leveraging their detailed understanding of domestic market dynamics and offering cost-effective, customized solutions tailored to local automakers. However, the increasing demand for enhanced driver comfort, connectivity, and seamless integration with advanced vehicle systems is driving regional vendors to innovate or collaborate with larger players. The market is expected to witness significant consolidation as mergers and acquisitions rise, with domestic companies striving to compete with global leaders by upgrading their technological capabilities. This trend is likely to reshape the competitive landscape of the steering wheel switches market, fostering further innovation and market expansion.
Steering Wheel Switches Industry News
This steering wheel switches market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue ($Bn) and volume (Units) from 2021 to 2034, for the following segments:
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Market, By Vehicle
Market, By Sales Channel
Market, By Product
Market, By Application
The above information is provided for the following regions and countries: