The steering wheel armature is defined as the component of automotive vehicle that gives the structural foundation for all steering wheel mountings such as airbags, driver controls, etc. Magnesium alloy, aluminium alloy are used for manufacturing of steering wheel armature due to the durability and cost effective manufacturing.
The increase in concern for safety and comfort is the key driving factor which is expected to boost the global steering wheel armature market growth. Furthermore, continuous technological advancements in the automotive industry will positively influence the market growth. Also, the increase in consumer expenditure on vehicle purchase has influenced the global steering wheel armature market growth. Moreover, the increase in demand for advanced steering wheel designs, modern vehicle interiors, and availability of automotive technologies will propel the global steering wheel armature market growth during this forecast timeline.
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High cost is the major restraint which expected to hinder the global steering wheel armature market growth over the forecast period.
The Global Steering Wheel Armature Market is segmented into material type such as Magnesium or Magnesium Alloy, Steel or Steel Alloy, Carbon fiber, and others, by number of spokes such as One, Two, Three, Four, and Six. Further, market is segmented into application such as Passenger Car, and Commercial Car.
Also, the Global Steering Wheel Armature Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Nihon Plast Co., Ltd., Lunt Manufacturing, Getac Technology Corporation, Tianjin Liuhe Magnesium Product Co., Ltd., Shanghai Fangle Auto Parts Co. Ltd, Magpulse Technologies Pvt. Ltd., Summit Steering Wheel Co., Ltd., STARION CO., LTD, ROS INDUSTRIE SRL, etc.
By Material Type
- Magnesium or Magnesium Alloy
- Steel or Steel Alloy
- Carbon fiber
By Number of Spokes
- Passenger Car
- Commercial Car
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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