Gaming steering wheels have come a long way since Microsoft first designed one in 1997. These devices have evolved to provide gamers with a more realistic and immersive racing experience. Early gaming steering wheels were simple devices that provided essential force feedback. This meant that the wheel would vibrate in response to the player's actions. However, modern gaming steering wheels offer a much more comprehensive range of force feedback. They can reproduce the feeling of vibration, torque, friction, and even the running engine. This level of realism is possible thanks to the use of advanced sensors and actuators. These sensors measure the player's input, and the actuators reproduce the corresponding forces. The result is a gaming experience that is much more realistic and immersive than ever before.
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Data Bridge Market Research analyses that the Gaming Steering Wheels Market will grow at a CAGR of 8.00% in the forecast period of 2021 to 2028 and is expected to reach USD 2,473.85 million by 2028 from USD 1,336.54 million in 2020. The increasing adoption of virtual reality (VR) and augmented reality (AR) is creating new opportunities for the gaming steering wheels market. VR and AR can be used to create even more realistic and immersive racing experiences. The growing popularity of racing games is driving the demand for gaming steering wheels. Racing games offer a realistic and immersive experience that can be enhanced by using a gaming steering wheel.
Growing demand for gaming steering wheels is expected to drive the market's growth rate
The availability of gaming steering wheels is increasing, and this is making them more accessible to consumers. This is due to the increasing number of brands offering gaming steering wheels, and the increasing number of retailers selling gaming steering wheels. The disposable income of consumers is rising, and this is making gaming steering wheels more affordable. This is making gaming steering wheels more accessible to a wider range of consumers.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2021 to 2028
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Base Year
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2020
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Historic Years
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2019 (Customizable to 2013- 2018)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Weight (2.1-4.0 kg, 4.1-6.0 kg, 6.1-8.0 kg, 0-2.0 kg, More Than 8.0 Kg), Clutch Pedal (With Clutch Pedal, Without Clutch Pedal), Distribution Channel (Online, Offline)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Logitech (Switzerland), Endor AG (Germany), Thrustmaster (France), HORI CO. LTD. (U.S.), NUMSKULL (U.K.), and Flashfire Accessories Inc. (Canada)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand
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Segment Analysis:
The global gaming steering wheels market is segmented into three notable segments based on the weight, clutch pedal, and distribution channel.
- On the basis of weight, the global gaming steering wheels market is segmented into 0-2.0 KG, 2.1-4.0 KG, 4.1-6.0 KG, 6.1-8.0 KG, more than 8.0 KG. 2.1-4.0 KG segment is expected to dominate the market with 31.71% market share due to the growing game streaming culture across the globe and the development of multi-feature wheels, making it bulky.
- On the basis of clutch pedal, the global gaming steering wheels market is segmented into with clutch pedal, and without clutch pedal. Clutch pedal segment is expected to dominate the market with 51.55% market share due to the growing adoption of augmented and virtual reality for racing games and the design of a device similar to vehicles.
The with clutch pedal segment will dominate the clutch pedal segment of the gaming steering wheels market
The with clutch pedal segment will emerge as the dominating segment under clutch pedal. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the semiconductors and electronics industry all around the globe will further bolster the growth of this segment.
- On the basis of distribution channel, the global gaming steering wheels market is segmented into offline, and online. Online segment is expected to dominate the market with 53.45% market share; the growth is attributed to factors such as increasing demand for cloud-based gaming across the globe.
The online segment will dominate the distribution channel segment of the gaming steering wheels market
The online segment will emerge as the dominating segment under distribution channel segment. This is because of the growing number of technological advancements in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the major market players: Logitech (Switzerland), Endor AG (Germany), Thrustmaster (France), HORI CO. LTD. (U.S.), NUMSKULL (U.K.), and Flashfire Accessories Inc. (Canada).
Market Development
- In 2021, Thrustmaster, a brand of Guillemot Corporation S.A., is a leading manufacturer of gaming peripherals. The company launched two new gaming racing wheels in June: the T-GT II and the Ferrari SF1000 Wheel. The T-GT II is a high-end racing wheel that is designed to support PS3, PS4, PS5, and PC. It features a powerful force feedback system that provides realistic and immersive sensations. The wheel also has a number of other features, such as a built-in display, a quick-release system, and a variety of buttons and paddles. The Ferrari SF1000 Wheel is a licensed product that is based on the steering wheel of the Ferrari SF1000 Formula One car. It features a 100% carbon fiber central faceplate and a rubber-coated rim. The wheel also has several features designed to provide professional racers with a realistic racing experience, such as a 4.3-inch LCD display, a variety of buttons and paddles, and a force feedback system calibrated to the Ferrari SF1000. The launch of the T-GT II and the Ferrari SF1000 Wheel is a significant move for Thrustmaster. These two products represent the company's commitment to providing innovative and high-quality gaming racing wheels to both professional and casual gamers.
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant region in the gaming steering wheels market during the forecast period 2021-2028
Asia-Pacific region is the largest market for gaming steering wheels. This is due to the large population in the region and the growing popularity of racing games.
North America is estimated to be the fastest-growing region in the gaming steering wheels market in the forecast period 2021-2028
North America is the fastest-growing market. North America is a major hub for developing and adopting new technologies. This is due to the early adoption of new technologies and the region's growing popularity of racing games.
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