Press release
Steering Knuckle Market to reach USD 97.0 Bn by 2029, Technological Advancements and Growth Opportunities
Steering Knuckle Market
Steering Knuckle Market Report Scope and Research Methodology
The steering knuckle is a crucial component of the steering assembly in the automobile sector. It provides safety and stability to the front suspension and provides accuracy in radius and accurately machined flatness. Traditionally, steering knuckles were built of ductile cast iron or forged steel. However, the trend of reducing the weight of vehicles has resulted in the industry moving towards aluminum knuckles.
The steering knuckle market for automobiles is expected to increase due to the usage of composite materials in novel applications in a variety of sectors as an alternative to metal. The booming automotive sector is driving the global steering knuckle market, and a reduction in excise tax on these parts is also expected to create several lucrative opportunities for sellers of the steering knuckle and stub axle manufacturers.
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Steering Knuckle Market Dynamics
One of the major factors restraining the adoption of electronic power steering (EPS) is the higher cost of steering knuckles. The lack of economies of scale and non-completion of the supply chain is contributing towards the slow adoption of advanced steering knuckles. The repair and maintenance costs of EPS are also relatively higher than with ordinary steering knuckles, leading to a decrease in demand for EPS by end-users.
Government across the world have enacted strict automotive emission and fuel economy legislation, driving the adoption of advanced automotive steering. Electrically assisted power steering systems are lower in weight and have a simpler construction than traditional hydraulic steering systems, resulting in enhanced fuel economy and reduced CO2 emissions. The introduction of autonomous vehicles and the integration of IoT in cars are expected to further boost the driving experience of the driver and contribute to the growth of the automotive steering knuckles market.
The reduction in vehicle weight is becoming increasingly significant in the automobile manufacturing business, leading to a high demand for low-weighted steering knuckles. The trend of strengthening steering knuckles for all-terrain vehicles is also becoming more popular.
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Steering Knuckle Market Regional Insights
The Steering Knuckle Market report provides a detailed analysis of the market's regional insights, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The report's research methodology includes primary research, secondary research, data triangulation, and expert validation.
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
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Steering Knuckle Market Key Competitors 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)
• p.A
• 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
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Table of Content for Steering Knuckle Market
Global Steering Knuckle Market: Research Methodology
Global Steering Knuckle Market: Executive Summary
Market Overview and Definitions
Introduction to Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
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 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
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Key Types:
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 by Vehicle Type, Manufacturing Method and Material Type
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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