Simracing Hardware Market Size, Share, By Type, Level, Application, End User, and Region - Trends, Analysis, and Forecast till 2035

Market Overview:

• The simracing hardware market is anticipated to grow at a rate of USD 3.8 billion by 2035.
• The target market was valued at USD 2.6 billion in 2024.
• The market is expected to grow at a CAGR of 4.3% during the forecast period.

Simracing hardware refers to specialized equipment designed to enhance the experience of simulation racing, a genre that provides a highly realistic driving experience through advanced technology. The target market has seen significant growth in recent years due to the increasing popularity of simulation racing among both casual gamers and professional drivers. 

For instance, in September 2024, Logitech G, a brand of Logitech and leading innovator of gaming technologies and gear, announced at Logi Play the new Racing Series, marking an important milestone in Logitech G's simulation racing heritage. The Racing Series brings unprecedented innovation and customization to drivers, letting them fine-tune their gear setup and equipment levels to match their driving style.

Key Takeaways:

• North America held the largest share of the market in 2024 driven by a strong motorsports culture and a growing interest in e-sports across the region.
• Asia Pacific is expected to be the fastest-growing region in the market during the forecast period as the innovations in hardware design, which includes improved force feedback systems and high-fidelity graphics are attracting both casual gamers and professional racers in the region.
• By type, the steering wheels segment is expected to account for the largest share of the Simracing Hardware market in the upcoming years as the users seek modular, customizable options to match their specific racing needs, encouraging innovation from manufacturers.

Key Drivers of Target Market:

Growing Popularity of E-sports is Expected to Boost Market Growth

The rise of e-sports particularly in racing simulations has significantly increased interest and participation in simracing driving the demand for high-quality hardware. 

• For instance, In December 2024, Sim racing company Veloce Esports has announced a large-scale partnership with American simulation racing equipment brand Thrustmaster. Thrustmaster will become the official sim racing equipment partner for Veloce Esports, helping equip Veloce drivers and create content together.

Increasing Accessibility is Projected to Boost Market Expansion

The availability of a wide range of products catering to different skill levels from entry-level setups to professional-grade simulators making simracing more accessible to a broader audience, driving the simracing hardware market growth.

• For instance, in December 2024, the Revosim Pure marks the start of a new sim racing peripheral ecosystem, with wheel base, wheel, pedals, and app. The pedals feature a 100kg load cell brake setup, three different elastomers for adjustable firmness, and a changeable pedal angle. The complimentary mobile app is set to receive game telemetry, with your phone placed upon a holder and acting as a digital display unit, with revs, speed, tyre temperature, and other useful information displayed in real-time.

Restraints:

Limited Awareness Hampers Target Market Growth

Compared to mainstream gaming products, simracing hardware often has a limited presence in physical retail stores, reducing opportunities for consumers to experience the products firsthand. 

• Counterbalance Statements: While awareness may be limited, the rise of online communities and forums dedicated to simracing is helping to educate new users and share experiences, gradually increasing interest in the hardware.

Opportunities & Market Trends:

Growing Interest in Home Entertainment: 

• As more consumers invest in home entertainment systems the demand for simracing hardware is likely to rise. This factor further is reinforced by the increasing popularity of gaming as a primary form of entertainment.

The Simracing hardware market is classified into type, level, application, end-user, and region.

Type:

Based on tyre, the simracing hardware market is categorized into steering wheels, wheel bases, pedals, gaming seats, and others. The steering wheels segment is expected to dominate over the forecast period as they are one of the most critical components of the SimRacing hardware market, serving as the central interface for precision control and immersive driving experiences. 

• For instance, in October 2024, Asetek SimSports, the manufacturer of sim-racing hardware based in Aalborg, Denmark launched a state-of-the-art product, the Invicta Steering Wheel. Inspired by real-life Formula racing cars, the Invicta Steering Wheel has been designed and crafted with supreme performance and immersion in mind. Asetek’s long history of innovation, engineering excellence, and real-life racing experience and gaming expertise combine to make the ultimate steering wheel.

Level:

By level, the Simracing hardware market is segmented into entry level simulators, mid-level simulators, and high-end simulators. The high-end simulators segment dominates the focused market share due to the increasing demand for advanced features and realistic experiences that cater to serious enthusiasts and professional racers.

• For instance, in February 2023, the Aston Martin Aramco F1 Team, a Formula One team operated by British luxury automobile brand Aston Martin, has announced the launch of a limited run of premium F1 racing simulators. The rigs include high-end components, such as a high-performance gaming PC, AOC 49′ curved displays, speakers, pedals, wheels, and wheelbase, among other accessories. The simulators can also be ordered with or without the nose cone and motion rigging.

Application:

Simracing hardware market by application is categorized into entertainment, training & simulation, and other applications. The entertainment segment is expected to dominate over the forecast period due to the increasing popularity of gaming and e-sports, where realistic and immersive racing experiences are highly sought after.

End-User:

By end-user, the market is segmented into casual gamers, professional racers, e-sports competitors, and others. The casual gamers segment holds a dominant simracing hardware market share as gamers are drawn to simracing as a form of entertainment, leading to a significant demand for user-friendly and cost-effective hardware options.

Region:

Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America: This region is expected to dominate the target market share, which is driven by increasing interest in e-sports, rising adoption of simulation technology for training, and a strong gaming culture. With advanced infrastructure, a tech savvy population and also increasing participation in virtual motorsport competitions.

Asia Pacific: This is largest and fastest-growing region in the target market as the rise in gaming culture particularly among younger demographics is propelling demand for simracing hardware as enthusiasts seek realistic racing simulations.

• For instance, in September 2024, Global competitive sim racing platform SimRacing.GP (SGP) has launched AWS servers in Mumbai. According to the platform, this is in response to simracing’s growing interest in India and surrounding APAC regions. With the additional server location, SGP also seeks to attract global racing leagues hosting events across APAC. The new servers aim to provide players in India and adjacent countries with reduced latency and better ping times for an elevated competitive experience.

Simracing Hardware Market Report Scope:

Segmentation:

By Type:

• Steering Wheels
• Wheel Bases
• Pedals
• Gaming Seats
• Others

By Level:

• Entry Level Simulators
• Mid-Level Simulators
• High-End Simulators

By Application:

• Entertainment
• Training & Simulation
• Other Applications

By End User:

• Casual Gamers
• Professional Racers
• E-sports Competitors
• Others

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating in the simracing hardware market include Fanatec, Logitech, Thrustmaster, and others. The focused market has a dynamic competitive environment with well-known firms that controls the industry and smaller businesses innovating to satisfy advanced customer demands.

For instance, in October 2024, the specially-designed racing steering wheel used by Bentley’s Pikes Peak GT3 car is now available for simracing setups, as Fanatec’s new pinnacle product. Developed simultaneously for both the real Pikes Peak race car and for simracing, the new Fanatec Bentley GT3 Podium Steering Wheel is the result of a joint collaboration with Bentley’s Motorsport team. 

List of Key Players in the Market:

• Fanatec
• Logitech
• Thrustmaster
• Simucube
• Asetek
• MOZA Racing
• SIMAGIC
• Next Level Racing
• Sim-Lab
• Cube Controls
• Heusinkveld Engineering
• GT Omega
• Trak Racer
• Playseat
• SimXperience

• In November 2024, Xbox and Asetek SimSports partnered to bring SimSports' sim-racing hardware to platforms. New sim-racing hardware that is "Designed for Xbox" will be available in upcoming years. The Xbox One and Xbox Series X/S will be compatible with these products. This partnership will guarantee console compatibility for both new Asetek SimSports gear and "selected existing products." As a result, Asetek's SimSports brand will be more widely recognized outside of the PC market.
• In August 2024, Revosim has released further details about its new line of sim racing peripherals, highlighting its GT steering wheel with a 9Nm Direct Drive motor and 100kg load cell pedals. Presented under the Revosim Pure brand at Gamescom, these peripherals mark the beginning of a new sim racing ecosystem, including a wheel base, steering wheel, pedals, and a companion smartphone app.
• In July 2024, MOZA Racing, a trailblazer in sim racing technology, unveiled the official release of the highly anticipated Vision GS Steering Wheel. This revolutionary product has quickly become a sensation among racing enthusiasts, particularly those devoted to GT racing. The MOZA Vision GS Steering Wheel embodies futuristic design and advanced functionality. Inspired by modern concept cars, this GT steering wheel boasts a standard size of 310mm, merging sleek aesthetics with exceptional comfort and control.
• In June 2024, In the midst of its planned takeover of Fanatec, Corsair is taking its own first steps into the simracing market, revealing a new driving rig set. Corsair promises that the rig will be compatible with most simracing equipment, although the specifics on this are still under wraps. We note that there’s a Fanatec CSL DD wheelbase and two different Fanatec wheel rims in the video, as well as some Heusinkveld pedals.
• In May 2024, French developer Nacon has announced the creation of a new simracing department, as well as a hardware sub-brand named “Revosim” which will reveal a first direct drive steering wheel soon. The announcement came as part of the Bigben Week, held at Cercle d’Aumale in Paris, in which Nacon’s parent company Bigben showed off some of the gaming products from its own brands as well as other exhibitors, such as Google and Samsung.
• In April 2024, Playseat launches official F1-branded simracing cockpit, endorsed by F1 drivers. The cockpit’s built with mounts for a racing wheel, pedals, and display panel, and it’s adjustable to fit sim racers of both Alex Wurz and Yuki Tsunoda proportions. The white colour scheme with official F1 branding is certainly a striking look in contrast to most simracing hardware, where black has been the new black for the last few decades.

Analyst View:

Simracing hardware market is on a strong growth trajectory fueled by advancements in technology and the rising popularity of e-sports. In the upcoming years, the focused market is expected to grow in importance within the larger gaming and entertainment industries with sustained investment and interest from both customers and manufacturers.

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