The gaming steering wheel market has shown significant growth, increasing from $20.57 billion in 2023 to $22.28 billion in 2024, with a compound annual growth rate (CAGR) of 8.3%. This growth can be attributed to rising demand for high-performance gaming steering wheels, a surge in simulation games, growing consumer interest, demand for safety solutions, and the rise of e-sports and competitive gaming. The market is expected to maintain strong growth, reaching $30.86 billion by 2028 with a CAGR of 8.5%. This anticipated growth is driven by the increasing adoption of AR/VR for realistic control, the rising popularity of simulation games, the growing demand and production of vehicles, greater access to gaming infrastructure, and the rise of social impact gaming initiatives. Key trends in the forecast period include advancements in direct adaptive steering and steer-by-wire technology, improvements in materials, integration of blockchain technology, adoption of wireless and cloud gaming, and the integration with virtual reality (VR) and augmented reality (AR).
Global Gaming Steering Wheels Market Key Driver
The gaming steering wheel market is set to expand with the increasing number of e-sport competitions. These competitions, involving organized multiplayer video game contests, are growing due to the popularity of e-sports and the availability of high-speed internet. Game steering wheels enhance the gaming experience by providing realistic driving simulations. In May 2024, Esports News UK reported a 140% increase in revenues from UK games events and venues, reaching £10.3 million in 2023, up from £4.35 million in 2022. This growth in e-sport competitions is boosting the demand for gaming steering wheels.
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Global Gaming Steering Wheels Market Segments
The gaming steering wheels market covered in this report is 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
By Geography:The regions covered in the gaming steering wheels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the gaming steering wheels market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major Gaming Steering Wheels Industry Players
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
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Gaming Steering Wheels Market Overview
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 2023 provides data on the global gaming steering wheels market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The gaming steering wheels market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
