Gaming Steering Wheels Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, Canada, Germany, India, UK, Japan, France, South Korea, Australia - Size and Forecast 2025-2029

Gaming Steering Wheels Market Size 2025-2029

The gaming steering wheels market size is forecast to increase by USD 912.6 million, at a CAGR of 6.3% between 2024 and 2029.

• The market is experiencing significant growth, driven primarily by the increasing disposable income in emerging markets. This trend is creating a larger consumer base for gaming accessories, including steering wheels. Additionally, companies are introducing new products to cater to this expanding market, further fueling market growth. However, the market faces challenges from competition posed by alternative gaming controllers. These controllers offer versatility and convenience, allowing users to play various games without the need for specialized equipment like gaming steering wheels.
• To capitalize on market opportunities and navigate challenges effectively, companies must focus on product innovation, pricing strategies, and expanding their reach into emerging markets. By addressing these dynamics, market participants can differentiate themselves and maintain a competitive edge in the market.

What will be the Size of the Gaming Steering Wheels Market during the forecast period?

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The market continues to evolve, driven by advancements in technology and the growing popularity of sim racing. Digital input and force feedback intensity are key features that distinguish high-end steering wheels from entry-level models. Augmented reality (AR) technology is increasingly being integrated into steering wheels, providing a more immersive experience for users. Steering wheel bases are a crucial component of this market, offering precise control and realistic feedback. Pedals, including brake, clutch, and throttle, are essential accessories that complete the sim racing setup. Linear actuators and hall effect sensors enable force feedback and haptic feedback, enhancing the driving simulation experience.

The gaming hardware market, which includes steering wheels, is influenced by technology trends such as USB connectivity, wireless connectivity, and software development. Sim racing leagues and racing games attract a diverse target audience, from professional sim racers to casual gamers. Price point is a significant factor in the market, with manufacturers catering to various segments, including beginner drivers and competitive racing enthusiasts. Customization options, material quality, response time, and firmware updates are essential considerations for consumers seeking value for money. The ongoing development of gaming peripherals, including steering wheels, pedals, and gear shifters, is a response to the growing demand for immersive gaming experiences.

The integration of these accessories with racing simulators, PC gaming, and virtual reality (VR) systems creates a more realistic and engaging experience for users. The market for gaming steering wheels is dynamic, with ongoing innovation in areas such as wheel diameter, paddle shifters, rotation angle, and precision control. The e-sports market and cloud gaming are emerging sectors that are expected to drive growth in this market. Overall, the market is an exciting and continuously evolving space, offering endless opportunities for innovation and growth.

How is this Gaming Steering Wheels Industry segmented?

The gaming steering wheels industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

• Product Type
  • Standard racing wheels
  • Force feedback wheels
  • Others
• Distribution Channel
  • Online
  • Offline
• Geography
  • North America
    • US
    • Canada
  • Europe
    • France
    • Germany
    • UK
  • APAC
    • Australia
    • China
    • India
    • Japan
    • South Korea
  • Rest of World (ROW)

By Product Type Insights

The standard racing wheels segment is estimated to witness significant growth during the forecast period.

The market encompasses a range of products, with standard racing wheels being a significant segment. These wheels cater to console gaming and PC users seeking an affordable yet functional upgrade for their racing games. Designed primarily for casual gamers, they offer a user-friendly interface and are compatible with various racing titles. Standard racing wheels feature a simple design, often without advanced features such as force feedback or haptic feedback. Instead, they prioritize affordability, making them an accessible option for beginner drivers and those preferring arcade-style racing games. These wheels typically come with a steering wheel rim, gear shifter, and pedal set, including a brake pedal and sometimes a clutch pedal.

They may offer customization options, such as adjustable rotation angles and button mapping, allowing users to tailor their gaming experience. The market for racing simulators and sim racing is growing, driven by technology trends like wireless connectivity, virtual reality, and augmented reality. As a result, there is a demand for more realistic feedback and precision control. However, standard racing wheels offer limited feedback, relying on digital input for steering and pedal resistance. Despite this, they remain popular due to their affordability and ease of use. The market for gaming hardware and accessories continues to evolve, with firms focusing on software development and firmware updates to enhance user experience.

As the market grows, there is a increasing focus on value for money, material quality, and immersive experience.

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The Standard racing wheels segment was valued at USD 1064.40 million in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 49% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American the market is a significant contributor to the global gaming accessories industry, with the US leading the charge. The region's economic impact from video gaming is substantial, adding approximately USD65 billion to the national GDP in 2023. This dynamic gaming ecosystem supports the market's growth, driven by the deep-rooted gaming culture in North America. Over 190 million Americans engage in video gaming, with 78% of households interacting with at least one gaming device in the past year. Console gaming and PC gaming are popular platforms for racing enthusiasts, fueling the demand for advanced gaming peripherals. Steering wheels with force feedback, haptic feedback, and customization options have gained popularity, offering realistic driving simulations and immersive experiences.

Technological advancements, such as wireless connectivity, hall effect sensors, and motion simulation, enhance the gaming experience. Beginner drivers and professional sim racers alike benefit from steering wheels with adjustable pedal resistance, brake pedals, and clutch pedals. Racing leagues and competitive racing events further fuel the market's growth, as participants seek precision control and realistic feedback. The racing simulator market, including software development and game development, also plays a role in the market's evolution. The market caters to various target audiences, from casual gamers to e-sports professionals. Price point, value for money, and material quality are essential considerations for consumers.

Steering wheel bases, pedal sets, and gaming accessories are integral components of the gaming hardware market. The integration of software and firmware updates, button mapping, and digital input further enhances the user experience. The market trends include the integration of virtual reality (VR) and augmented reality (AR), cloud gaming, and the increasing importance of customization options. Linear actuators, analog input, and precision control are essential features for sim racing enthusiasts. The market's future looks promising, with continuous advancements in technology and the growing popularity of racing games.

Market Dynamics

Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in the adoption of Gaming Steering Wheels Industry?

• In emerging markets, the primary catalyst fueling market growth is the rise in disposable income among consumers.

• The market is experiencing notable growth due to the increasing disposable income in various emerging economies. This trend is particularly prominent in countries like China, India, and Brazil, where income growth is driving market expansion. For instance, China's per capita disposable income reached approximately USD5,511 in 2023, marking a 6.3% year-on-year increase, as reported by the National Bureau of Statistics (NBS). This economic development signifies the growing financial capacity of consumers, enabling them to invest in gaming accessories. As a result, there is a rising demand for gaming steering wheels that offer features such as driver support, precision control, and realistic feedback for a more immersive gaming experience.
• Additionally, technology trends like virtual reality (VR) and motion simulation are influencing the market, as gaming enthusiasts seek advanced customization options and quick response times for racing games and game development. Overall, the market dynamics are driven by the intersection of economic growth and technological innovation.

What are the market trends shaping the Gaming Steering Wheels Industry?

• The trend in the market is toward the launch of new products by companies. This is a mandatory development in the business world, reflecting innovation and competitiveness.

• The market is experiencing notable growth due to the introduction of innovative products from leading companies. These new offerings are designed to elevate the realism and immersion of sim racing experiences for both gaming enthusiasts and professional racers. For instance, on September 17, 2024, Logitech G unveiled its Racing Series at Logi Play, marking a significant advancement in sim racing technology. This series comprises customizable steering wheels, shifters, and handbrakes, meticulously engineered to replicate real-world racing experiences across various disciplines, including rally, drifting, and open-wheel precision. Key market trends include the integration of digital input and force feedback intensity for a more authentic driving experience.
• Furthermore, the incorporation of augmented reality (AR) technology and pedal travel customization adds an additional layer of realism. The price point for these advanced gaming accessories remains competitive, making them accessible to a wide audience. Linear actuators and analog input in pedal sets further enhance the driving experience, providing a harmonious and immersive interaction between the player and the game. As cloud gaming continues to gain traction, the demand for high-quality gaming hardware, including steering wheels, is expected to surge. This trend underscores the importance of continued innovation in the gaming accessories market to meet the evolving needs of consumers.

What challenges does the Gaming Steering Wheels Industry face during its growth?

• The expansion of the gaming industry is significantly influenced by the intensifying competition from alternative gaming controllers.

• The market encounters notable competition from alternative gaming controllers, primarily gamepads and joysticks. These peripherals offer advantages that cater to a diverse gamer base, hindering the growth of gaming steering wheels. Gamepads are the preferred input devices for console gaming systems like Xbox, PlayStation, and Nintendo. They connect via USB and are also compatible with computers, making them versatile and convenient. Additionally, many portable gaming systems, such as the Nintendo Switch, come with built-in gamepads. Their ease of use and compatibility across multiple platforms make gamepads a popular choice among gamers. However, gaming steering wheels provide an immersive racing experience, which cannot be replicated by gamepads.
• They come with features like material quality, USB connectivity, firmware updates, button mapping, and software integration, enhancing the gaming experience for competitive racers and e-sports participants. The grip material ensures a firm hold, while the inclusion of a clutch pedal and throttle pedal adds to the realistic feel. Despite these advantages, the market for gaming steering wheels faces stiff competition from gamepads due to their versatility and ease of use. Nevertheless, value for money and the target audience's preference for immersive gaming experiences will continue to drive the demand for gaming steering wheels.

Exclusive Customer Landscape

The gaming steering wheels market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the gaming steering wheels market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, gaming steering wheels market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

ANT Esports - This company specializes in high-performance gaming steering wheels, engineered with dual-clutch paddles for seamless gear shifting, customizable buttons for personalized control, and a robust high-torque direct drive motor for immersive racing experiences. These innovative features elevate user engagement and enhance simulation authenticity, providing a superior gaming experience.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• ANT Esports
• Ascher Racing
• Asetek
• Cube Controls S R L
• FlashFire Co. Ltd.
• GRID Engineering
• GTR Simulators
• HORI U.S.A. Inc.
• JCL Simulator
• Logitech International SA
• Mad Catz Global Ltd.
• MOZA Racing
• Precision Sim Engineering Ltd
• Shenzhen SIMAGIC Technology Co Ltd
• SimCraft
• SimXperience
• Thrustmaster
• Turn Racing
• Turtle Beach Corp.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Gaming Steering Wheels Market

• In February 2023, Logitech G, a leading innovator in gaming peripherals, introduced the Logitech G29 Driving Force Pro Racing Wheel, featuring a hand-stitched leather wheel and advanced force feedback technology (Logitech Press Release). This new product launch caters to the growing demand for premium gaming experiences.
• In July 2022, Thrustmaster, a prominent gaming peripherals manufacturer, announced a partnership with Ferrari to develop officially licensed racing wheels, expanding their product offerings and strengthening their position in the market (Thrustmaster Press Release).
• In March 2021, Fanatec, a German manufacturer of high-end sim racing equipment, raised Euros 50 million in a funding round, demonstrating strong investor confidence in the growing the market (BusinessWire).
• In November 2020, Sony Interactive Entertainment and Codemasters, a leading racing game developer, announced a strategic collaboration to bring official racing wheels to the PlayStation ecosystem, marking a significant expansion into console gaming for the market (PlayStation Blog).

Research Analyst Overview

• The gaming steering wheel market is witnessing significant advancements, with key technologies such as social media integration, optical encoder, and wireless transmission enhancing the user experience. Adjustable pedal angle, LED lighting, and ergonomic design are becoming essential features for gamers seeking immersive racing experiences. Community support and online forums facilitate information sharing among users, enabling optimal racing setup and compatibility testing. Telemetry data, driver updates, and customizable profiles cater to individual preferences, while real-time graphics and game physics engines deliver lifelike simulations. Bluetooth connectivity, haptic feedback integration, and load cell technology provide realistic force feedback. E-sports tournaments and sim racing events showcase the competitive side of the market, with multi-function buttons and adjustable pedal height catering to the demands of professional gamers.
• Brushless motor, gear drive, and magnetic encoder technologies ensure smooth and responsive performance, while track simulation and anti-slip grip offer realistic racing experiences. Racing simulator software continues to evolve, integrating advanced features such as data logging, racing setup optimization, and direct drive systems.

Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Gaming Steering Wheels Market insights. See full methodology.

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What are the Key Data Covered in this Gaming Steering Wheels Market Research and Growth Report?

• CAGR of the Gaming Steering Wheels industry during the forecast period
• Detailed information on factors that will drive the growth and forecasting between 2025 and 2029
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the gaming steering wheels market growth of industry companies

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