LONDON, GREATER LONDON, UNITED KINGDOM, September 6, 2024 /EINPresswire.com/ — The gaming steering wheels market has experienced robust growth in recent years, expanding from $20.57 billion in 2023 to $22.28 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to the growing demand for high-performance gaming steering wheels, rising demand for simulation games, increasing consumer interest, demand for safety solutions, and the rise of e-sports and competitive gaming.
What Is The Estimated Market Size Of The Global Gaming Steering Wheels Market And Its Annual Growth Rate?
The gaming steering wheel market is projected to continue its strong growth, reaching $30.86 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to the increasing adoption of AR/VR for realistic control, the rising popularity of simulation games, the growing demand and production of vehicles, increasing access to gaming infrastructure, and the rise of social impact gaming initiatives.
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Growth Driver Of The Gaming Steering Wheels Market
$30.86 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to the increasing adoption of AR/VR for realistic control, the rising popularity of simulation games, the growing demand and production of vehicles, increasing access to gaming infrastructure, and the rise of social impact gaming initiatives.
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Which Market Players Are Steering The Gaming Steering Wheels Market Growth?
Key players in the gaming steering wheels market include Logitech, Turtle Beach, Mad Catz, Thrustmaster, Endor AG, Asetek Inc., VENOM UK LTD, GTR Simulator, Ascher Racing, NiTHO, SimXperience, Cube Controls S.R.L., SimCraft, Turn Racing, VELOCE LTD., Precision Sim Engineering Ltd., Grid Engineering, Simagic, mozaracing.com, JCL Simulator.
What Are The Key Trends That Influence Gaming Steering Wheels Market Share And Analysis?
Major companies operating in the gaming steering wheel market are focused on developing advanced professional-grade racing setups to deliver the most realistic and immersive racing experience possible. A professional-grade racing setup is a high-end, realistic simulation system that closely mimics the experience of real-world racing, allowing drivers to prepare for races and analyze data to enhance their skills.
How Is The Global Gaming Steering Wheels Market Segmented?
1) By Type: Gear-Driven Wheel, Belt-Driven Wheel, Direct Drive Wheel, Hybrid Wheel
2) By Clutch Pedal: With Clutch Pedal, Without Clutch Pedal
3) By Weight: 0-2.0 kilogram (kg), 2.1- 4.0 kilogram (kg), 4.1- 6.0 kilogram (kg), 6.1-8.0 kilogram (kg), More Than 8.0 kilogram (kg)
4) By Distribution Channel: Online, Offline
5) By Application: Personal Computer (PC), PlayStation 3 (PS3), PlayStation 4 (PS4), XBOX
Geographical Insights: North America Leading The Gaming Steering Wheels Market
North America was the largest region in the gaming steering wheel market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gaming steering wheels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Gaming Steering Wheels Market Definition
Gaming steering wheels are specialized input devices that create the experience of driving a vehicle in racing and simulation video games. These devices provide a more immersive and realistic driving experience by replicating real-world steering wheels, allowing players to become more involved in the game.
Gaming Steering Wheels Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global gaming steering wheels market report covering trends, opportunities, strategies, and more
The Gaming Steering Wheels Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on the gaming steering wheels market size, gaming steering wheels market drivers and trends, gaming steering wheels market major players, gaming steering wheels competitors’ revenues, gaming steering wheels market positioning, and gaming steering wheels market growth across geographies. The gaming steering wheels market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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