Europe Automotive Plastic Steering Wheel Market was valued at USD 1.0 Billion in 2022 and is projected to reach USD 1.5 Billion by 2030, growing at a CAGR of 5.8% from 2024 to 2030.
The Europe Automotive Plastic Steering Wheel Market has witnessed remarkable growth in recent years, driven by a combination of factors such as the rising demand for lightweight vehicles, the increasing emphasis on fuel efficiency, and advancements in plastic technology. As more automotive manufacturers seek cost-effective and sustainable solutions, the automotive plastic steering wheel has become a key component in meeting these goals. This market is expected to continue expanding as plastic-based steering wheels are now being seen as the future of automotive interiors.
Automotive plastic steering wheels are replacing traditional metal-based options due to their lower weight, which contributes to better fuel efficiency. In addition, plastic materials offer greater design flexibility, allowing automakers to integrate enhanced ergonomics and aesthetic appeal into the steering wheel designs. One significant advantage of plastic is its ability to be molded into complex shapes, offering both functionality and improved driver comfort. The versatility of plastics such as polycarbonate and polypropylene also opens up new possibilities for customization and durability.
The demand from industries for automotive plastic steering wheels is fueled by stringent regulations aimed at reducing vehicle emissions. The automotive industry is under increasing pressure to reduce carbon footprints, and plastic steering wheels are seen as an essential solution to this problem. Their lighter weight results in less energy consumption and reduced CO2 emissions, aligning with the environmental goals of the industry. Furthermore, the rise in electric vehicle (EV) production has further accelerated the adoption of plastic components as automakers look to minimize weight while maintaining safety standards.
As the European automotive industry moves towards sustainable practices, the need for plastic steering wheels will increase. The plastic steering wheel market is being driven by the growing emphasis on passenger safety, the demand for advanced materials that are both durable and cost-effective, and the automotive industry's need to stay ahead of regulatory requirements. The future of the automotive plastic steering wheel market is promising, with innovations in material technologies expected to unlock further growth opportunities.
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Toyoda Gosei
Autoliv
ZF Friedrichshafen AG
Yanfeng
Joyson Safety Systems
GSK InTek Co.
Ltd.
Tokai Rika
Neaton Auto Products Manufacturing
Inc.
Fang Le
Sparco S.P.A
Shanghai Daimay Automotive Interior Co.
Ltd
Grant Products
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe Automotive Plastic Steering Wheel Market
Polypropylene (PP)
Polyvinyl Chloride (PVC)
Polyurethanes (PU)
Acrylonitrile Butadiene Styrene (ABS)
Others
Passenger Cars
Commercial Vehicles
Two-Wheelers
Electric Vehicles (EVs)
Luxury Vehicles
Injection Molding
Compression Molding
Blow Molding
3D Printing
Thermoforming
OEMs (Original Equipment Manufacturers)
Aftermarket Suppliers
Automotive Assemblers
Car Modification Specialists
Rental & Leasing Services
Standard Steering Wheels
Multi-Functional Steering Wheels
Heated Steering Wheels
Adjustable Steering Wheels
Smart Steering Wheels (with embedded technology)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
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1. Introduction of the Europe Automotive Plastic Steering Wheel Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe Automotive Plastic Steering Wheel Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Automotive Plastic Steering Wheel Market, By Type
6. Europe Automotive Plastic Steering Wheel Market, By Application
7. Europe Automotive Plastic Steering Wheel Market, By Geography
Europe
Germany
UK
France
8. Europe Automotive Plastic Steering Wheel Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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