Press release
Steering Knuckle Market to witness growth opportunities at a growth rate of 6.2 percent over 2022-29
Steering Knuckle Market
Steering Knuckle Market Report Scope and Research Methodology
The offers current trends and market highlights, assisting clients in exploring opportunities and developing market strategies. Key market participants, revenue, financial status, portfolio, growth strategies, and regional presence are all analyzed in the Steering Knuckle Market report. The report contains a bottom-up approach to understanding the Steering Knuckle Market size estimation. The report offers drivers, challenges, major restraints to the market, and opportunities prevailing for the Steering Knuckle Market. Segment-wise analysis of the Steering Knuckle market is divided into Vehicle Type, Manufacturing Method and Material Type.
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The report includes the approaches of qualitative and quantitative research using SWOT, PESTLE, and Porter's Five Force analysis tools. The report covers both primary and secondary data collection methods thus the report serves as a guide for investors, stakeholders, and market followers of the Steering Knuckle market.
Increasing the technological advancements in the automotive sector to drive the market growth
The penetration of the IoT (internet of things) in cars, innovation of the Electronic Power Steering (EPS) system for autonomous vehicles and enhancement of visual aesthetics by automotive OEMS (Original Equipment manufacturers resulted to increase technological growth for the automotive industry.
During the forecast period, the Steering Knuckle market is expected to be driven by increasing the production of vehicles, rising the demand for fuel-efficient vehicles, the growing adoption of advanced automotive steering and the increasing demand for EPS. The increasing popularity of electric and hybrid vehicles, stringent government regulations on fuel emissions, rising demand for AII Terrain Vehicles (ATV) and increase in demand for the low weighted steering knuckles are also expected growth factors for the Steering Knuckle Market.
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The increase in Off-Road recreational activities is an opportunity for the growth of the Steering Knuckle market. Over the forecast period, the Steering Knuckle market growth is expected to be hampered by high maintenance costs regarding steering knuckles and strict rules for vehicle production.
In 2021, the Europe region dominated the global Steering Knuckle Market
The European region dominated the Steering Knuckle Market, holding 45 percent in 2021 and is expected to maintain its dominance over the forecast period. The regional Steering Knuckle market growth is expected to be driven by the presence of large manufacturers, technological advancements, the increasing automotive industry and changing consumer preference for vehicles.
During the forecast period, the North American region is expected to grow at a CAGR of 6.0 percent due to technological advances and the expansion of the automotive industry. The Asia-Pacific region is expected to grow significantly over the forecast period. The regional growth is expected to be driven by the availability of manpower, an increase in demand for steering knuckles and the presence of a large number of automakers in China.
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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
Steering Knuckle Market Key Players include:
Teksid S.p.A. (Italy)
Farinia SA (USA)
TeraFlex Suspensions (USA)
Happy Forgings Limited (India)
Busche Performance Group (USA)
Jikasu Engineering Corp (India)
MAG IAS GmbH (Germany)
ATTC Manufacturing, Inc. (USA)
Sakthi Auto Component Limited (SACL) (India)
NINGBO SAP STEERING SYSTEM CO.LTD (China)
Beinbauer Group (Germany)
Bharat Forge (India)
Mevotech LP
MOOG Parts
MZW Motors
Professional Parts Sweden
ACDelco Corporation
Crown Automotive Sales Co., Ltd.
Dorman Products
Table of for Global Steering Knuckle Market:
Global Steering Knuckle Market: Research Methodology
Global Steering Knuckle Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
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Global Steering Knuckle Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
Global Steering Knuckle Market Segmentation
Global Market, by Vehicle Type (2021-2029)
Global Market, by Manufacturing Method (2021-2029)
Global Market, by Material Type (2021-2029)
Regional Global Steering Knuckle Market(2021-2029)
Regional Market, by Vehicle Type (2021-2029)
Regional Market, by Manufacturing Method (2021-2029)
Regional Market, by Material Type (2021-2029)
Regional Market, by Country (2021-2029)
Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis of the Vehicle Type, Manufacturing Method, Material Type 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
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