Steering Knuckle Market 2024: Emerging Technologies And Market Dynamics 2030

By Author: Puja
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The global steering knuckle market is poised for substantial growth, with a projected CAGR of 6.2% from 2024 to 2030, according to a recent market analysis. The market size was valued at USD 67.61 billion in 2023 and is anticipated to reach nearly USD 103.01 billion by the end of the forecast period.

Market Overview:

The steering knuckle, a crucial component of the steering assembly, plays a pivotal role in ensuring safety, stability, and accuracy in radius for front suspension systems. Traditionally made of ductile cast iron or forged steel, the industry is shifting towards lighter materials like aluminum to meet the growing demand for lightweight vehicles.

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Steering Knuckle Market Scope and Methodology:

The primary objective of the report is to offer a thorough evaluation of the Steering Knuckle market, with an emphasis on a strategy centered on the market. This includes grasping the dynamics of the Steering Knuckle market, major trends, factors driving growth, obstacles, and possible ...
... opportunities. Data is collected through both primary and secondary research methods. Interaction with key market players in the Steering Knuckle industry such as manufacturers, suppliers, vendors, consumers, and specialists via interviews and surveys is done to gather primary data. Secondary data is compiled from a variety of sources, including industry reports, market analysis, corporate websites, annual reports, trade journals, government publications, and databases.

The research provides a thorough examination of numerous business techniques used by leading organisations, including partnerships, mergers, acquisitions, and collaborations. The report evaluated the company's market position using a SWOT analysis, which identified its strengths, weaknesses, opportunities, and threats. Methods such as assessing investment returns, conducting a feasibility study, and performing Porter's five forces analysis were used to analyze the Steering Knuckle market. The sizes of the global and regional Steering Knuckle markets were calculated using the bottom-up approach.

Key Market Dynamics

Stringent Fuel Efficiency Standards: Government regulations worldwide, such as those set by the National Highway Traffic and Safety Administration in the United States, are driving the adoption of fuel-efficient steering solutions like electronic power steering (EPS).
Technological Advancements: Constant innovations in the automotive sector, including the integration of IoT and the development of autonomous vehicles, are enhancing the performance and efficiency of steering knuckle systems.
Rising Vehicle Production: The increasing demand for vehicles with improved maneuverability and fuel efficiency, along with other technological advancements, is boosting the demand for steering knuckles.
Steering Knuckle Market Segmentation:

by Vehicle Type
Passenger Cars
Commercial Vehicles
Off-road Vehicles
Others

by Manufacturing Method
Casting
Forging

by Material Type
Steel
Aluminum
Composites

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.

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Steering Knuckle Market Competitive Landscape:

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

Steering Knuckle Market Regional Insights

The report focuses on domestic factors to assess the status of the Steering Knuckle market in different countries across North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The Steering Knuckle market is intricately segmented into these well-defined regions, providing a thorough understanding of the demand's makeup and the continuously changing factors in each geographical area.

Key questions answered in the Steering Knuckle Market are:

What is Steering Knuckle?
What was the Steering Knuckle Market size in 2023?
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 upcoming opportunities and trends for the Steering Knuckle Market?
Who are the leading companies and what are their portfolios in Steering Knuckle Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Steering Knuckle Market?
Who are the key players in the Steering Knuckle Market?
What are the different segments of the Steering Knuckle Market?
Which is the fastest growing region in the Steering Knuckle Market?
What growth plans are the players exploring for increasing their presence in Steering Knuckle?
What is the CAGR at which the Steering Knuckle Market will grow over the predicted period?
What segments are covered in the Steering Knuckle Market?
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Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by different segment | 2024−2030
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
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
Recommendations
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