Latest News- Gaming Steering Wheels Market: Standard racing wheels is expected to lead the Product Type segment during 2025-2029

The Gaming Steering Wheels Market is being driven by Increasing disposable income in emerging markets

The Gaming Steering Wheels Market is expected to grow at a CAGR of 6.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 912.6 million. The global gaming steering wheels market is experiencing a noteworthy trend, with leading vendors launching innovative products to elevate the realism and immersion of sim racing experiences for both gaming enthusiasts and professional racers. Logitech G, a key player in this market, recently unveiled its new Racing Series at Logi Play on September 17, 2024. This series offers customizable steering wheels, shifters, and handbrakes, meticulously designed to replicate real-world racing experiences across various disciplines, including rally, drifting, and open-wheel precision. This revolutionary step in sim racing reflects the continuous efforts of companies to cater to the evolving demands of consumers in this market. 

Get more information on Gaming Steering Wheels Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product Type
  • Standard racing wheels
  • Force feedback wheels
  • Others
• Distribution Channel
  • Online
  • Offline
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing disposable income in emerging markets
• Growing popularity of simulation and racing games
• Expanding gaming community

However, the market also witnesses some limitations, which are as follows:

• Competition from alternative gaming controllers
• High costs of premium models
• Global supply chain disruptions

Benefits of Buying Global Gaming Steering Wheels Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Gaming Steering Wheels Market Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Gaming Steering Wheel market caters to the needs of racing simulator enthusiasts seeking immersive experiences. High-quality peripherals, such as force feedback and motion sensing technology, enhance realism and immersion in driving simulation games. Esports and casual gamers alike benefit from these advanced features, which include wireless technology, mobile compatibility, and hybrid gaming solutions. Force Feedback Technology delivers haptic feedback, while adjustable sensitivity and customizable steering wheels cater to individual preferences. Gaming platforms like Next Level Racing offer augmented reality (AR) and virtual reality (VR) experiences, while gear-driven, belt-driven, direct drive, and hybrid wheels cater to various budgets and performance levels. Clutch pedals and cloud-based gaming further expand the market's offerings, catering to the ever-evolving gaming culture and the rise of e-sports, digital gaming, and homegrown games.

Market Research Overview

The global leisure products market, encompassing categories such as sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and gaming peripherals, is a significant segment within the larger household durables market. According to Technavio, the household durables market size is determined by the consolidated revenue of manufacturers in this sector, including those producing consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties, and leisure products. Factors driving the expansion of this market include the surge in esports and gaming popularity, with racing simulators offering immersive experiences for both casual and professional gamers. Advanced technologies like force feedback, motion sensing, haptic feedback, and wireless connectivity are enhancing gaming experiences, further fueling market growth. The proliferation of health and fitness clubs and their increasing membership numbers also contributes to the market's growth, as consumers seek engaging alternatives to traditional workout methods.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/