Steering Knuckle Market Key Finding, Market Impact, Latest Trends Analysis, Progression Status, Revenue And Forecast To 2030

Published: 2024-07-09
Views: 91
Author: Pujammr
Published in: Business

Steering Knuckle Market CAGR Estimation:

The Steering Knuckle Market size was valued at USD 67.61 billion in 2023 and is projected to grow at a CAGR of 6.2% from 2024 to 2030, reaching nearly USD 103.01 billion.

Steering Knuckle Market Growth or Demand Increase or Decrease for what contains ?

The steering knuckle market is expected to witness significant growth driven by advancements in the automotive sector, increasing demand for lightweight components, and rising production of vehicles. The trend towards fuel-efficient and technologically advanced vehicles further fuels the demand for steering knuckles.

Constant technical breakthroughs in the automotive sector, together with the creation of novel solutions to enhance the overall travel experience, have substantially enhanced the quality of automobiles compared to those developed two decades ago. Automotive OEMs (Original Equipment Manufacturers) have created a number of innovative technologies that improve vehicle aesthetics and efficiency, among other performance metrics. Among these, automobile steering knuckle systems are specifically intended to avoid the need for a pump.

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Steering Knuckle Market Segmentation:

• By Vehicle Type:

  • Passenger Cars
  • Commercial Vehicles
  • Off-road Vehicles
  • Others

• By Manufacturing Method:

  • Casting
  • Forging

According to the manufacturing method, the Forging method segment led the market with a 75% share. Because temperature concentrations are maintained constant, the forging process provides more hardness and endurance to the product than any other method. The disclosed steering knuckle forging process is reasonable in process route design, simple and practical, significantly increases production efficiency, and improves steering knuckle surface quality. According to the Automotive Components Manufacturers Association (ACMA), forged components have gained favour in recent years because to their low cost and decreased component production costs. These are the fundamental drivers driving the segment's market share.

• By Material Type:

  • Steel
  • Aluminum
  • Composites

• By Sales Channel:

  • OEM
  • Aftermarket

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Steering Knuckle Market Overview:

The Maximise Market Research study provides clients with a comprehensive understanding of the competitive landscape and acts as a useful resource for strategic planning. The comprehensive Steering Knuckle Market overview includes detailed information on market size, trade statistics, key players, and a number of industry indicators such as the life cycle and current trends.

Steering Knuckle Market Growth or Demand in which regions??

• Europe:

  • Held the largest market share of about 45% in 2023.
  • Expected to maintain dominance due to the presence of major manufacturers and technological advancements.

• North America:

  • Expected to grow at a CAGR of 6.0% during the forecast period.
  • Influenced by high export activities and political factors.

• Asia Pacific:

  • Expected to grow significantly due to the availability of cost-effective resources and a large number of automakers, especially in China.
  • Benefitted from the Chinese market and the increasing demand for Taiwanese manufacturing due to the US-China trade dispute.

Steering Knuckle Market Scope & Methodology:

The competitive landscape of the Steering Knuckle market includes technological adoption, financial strength, portfolio, mergers and acquisitions, joint ventures, and strategic alliances. A thorough examination of the Steering Knuckle Market’s drivers, limits, opportunities, and challenges. The estimations and growth rates for the Steering Knuckle market were calculated using a bottom-up approach.

To gain insight into Steering Knuckle Market penetration, price dynamics, demand analysis, and competitive landscape, the report conducted regional analysis at the local, regional, and global levels. Essential information on the Steering Knuckle Market, including stakeholders, investors, and new entrants, is supplied to assist in the development of marketing strategies and investment plans.

The Steering Knuckle Market was studied utilising both primary and secondary data collection methods. Primary methods comprised surveys, questionnaires, and interviews with industry executives and business owners, whilst secondary data sources included news releases, annual and financial reports, white papers, and so on. The SWOT analysis was utilised to identify market vulnerabilities and weaknesses, while the PORTER framework was employed to evaluate industry competitiveness in the Steering Knuckle market.

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Steering Knuckle Market Key Players:

1. Teksid S.p.A. (Italy)
2. Farinia SA (USA)
3. TeraFlex Suspensions (USA)
4. Happy Forgings Limited (India)
5. Busche Performance Group (USA)
6. Jikasu Engineering Corp (India)
7. MAG IAS GmbH (Germany)
8. p.A
9. ATTC Manufacturing, Inc. (USA)
10. Sakthi Auto Component Limited (SACL) (India)
11. NINGBO SAP STEERING SYSTEM CO.LTD (China)
12. Beinbauer Group (Germany)
13. Bharat Forge (India)
14. Mevotech LP
15. MOOG Parts
16. MZW Motors
17. Professional Parts Sweden
18. ACDelco Corporation
19. Crown Automotive Sales Co., Ltd.
20. Dorman Products

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Key questions answered in the Steering Knuckle Market are:

• What is Steering Knuckle Market?
• What is the growth rate of the Steering Knuckle Market?
• Which are the factors expected to drive the Steering Knuckle Market growth?
• What are the different segments of the Steering Knuckle Market?
• What are the factors restraining the growth of the Steering Knuckle Market?
• What is the demand pattern of the Steering Knuckle Market?
• What major challenges could the Steering Knuckle Market face in the future? 

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Key Offerings:

• Past Market Size and Competitive Landscape
• Past Pricing and price curve by region
• Market Size, Share, Size & Forecast by different segment |
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation – A detailed analysis by segment with their sub-segments and Region 
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective 

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