Steering Knuckle Market Comprehensive Growth, Research Statistics, Business Strategy, 2024 Global Size, Industry Trends, Revenue, Future Scope and Outlook 2030

In 2023, the "Steering Knuckle Market was valued at USD 67.61 billion, with projections indicating a robust growth rate of 6.2% CAGR from 2024 to 2030" By the end of the forecast period, the market is expected to reach approximately USD 103.01 billion.

𝐒𝐭𝐞𝐞𝐫𝐢𝐧𝐠 𝐊𝐧𝐮𝐜𝐤𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

The steering knuckle is an essential part of the steering assembly, ensuring safety and stability in front suspension while maintaining precision in radius and flatness. Traditionally made from ductile cast iron or forged steel, there is a growing shift towards aluminum knuckles due to the automotive industry's trend towards reducing vehicle weight.

𝐆𝐫𝐚𝐛 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞: https://www.maximizemarketresearch.com/request-sample/70901/

In the automotive industry, the steering knuckle is increasingly recognized as a complex forging component. A significant emerging trend is the use of composite materials, anticipated to boost the market for automotive steering knuckles. These materials offer enhanced strength-to-weight ratios, corrosion resistance, and improved workability, making them a popular alternative to metals across various industries.

𝐒𝐭𝐞𝐞𝐫𝐢𝐧𝐠 𝐊𝐧𝐮𝐜𝐤𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞 𝐃𝐞𝐭𝐚𝐢𝐥𝐬:

• Base Year: 2023
• Forecast Period: 2024-2030
• Historical Data: 2018 to 2023
• Market Size in 2023: US $ 67.61 Bn.
• Forecast Period 2024 to 2030 CAGR: 6.2%
• Market Size in 2030: US $ 103.01 Bn.

𝐒𝐭𝐞𝐞𝐫𝐢𝐧𝐠 𝐊𝐧𝐮𝐜𝐤𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

♦ 𝐁𝐲 𝐌𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐢𝐧𝐠 𝐌𝐞𝐭𝐡𝐨𝐝𝐬:

• Forging: The forging method dominated the market with a 75% share. The process offers enhanced hardness and endurance, making it a preferred choice for steering knuckle production.
• Casting: The casting method is expected to grow at a CAGR of 5.8%. It is suitable for complex designs and offers cost-effective mass production, despite some drawbacks like poor surface finish.

♦ 𝐁𝐲 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐓𝐲𝐩𝐞

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

♦ 𝐁𝐲 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥 𝐓𝐲𝐩𝐞

• Steel
• Aluminum
• Composites

♦ 𝐁𝐲 𝐒𝐚𝐥𝐞𝐬 𝐂𝐡𝐚𝐧𝐧𝐞𝐥

• OEM
• Aftermarket

𝐒𝐭𝐞𝐞𝐫𝐢𝐧𝐠 𝐊𝐧𝐮𝐜𝐤𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐫𝐢𝐯𝐞𝐫𝐬:

The global steering knuckle market is propelled by the expanding automotive sector. Research suggests that reduced excise taxes on these parts are likely to benefit the major automotive industry, presenting numerous opportunities for steering knuckle and stub axle manufacturers. The high cost of steering knuckles remains a significant barrier to the adoption of Electronic Power Steering (EPS). The lack of economies of scale and incomplete supply chains hinder the widespread use of advanced steering knuckles. Moreover, repairing electronic automobile parts requires specialized tools and equipment, adding to the maintenance costs and reducing the demand for EPS among end-users.

𝐂𝐡𝐞𝐜𝐤 𝐎𝐮𝐭 𝐚 𝐁𝐫𝐢𝐞𝐟 𝐒𝐮𝐦𝐦𝐚𝐫𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞: https://www.maximizemarketresearch.com/request-sample/70901/

𝐒𝐭𝐞𝐞𝐫𝐢𝐧𝐠 𝐊𝐧𝐮𝐜𝐤𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬:

Globally, governments have implemented strict automotive emission and fuel economy regulations. Organizations like the National Highway Traffic and Safety Administration in the U.S. and the International Council on Clean Transportation in Europe have set fleet-level requirements that automakers must comply with. This has driven manufacturers to invest in fuel-efficient steering solutions, such as electronic power steering. EPS systems, being lighter and simpler than traditional hydraulic systems, can enhance fuel economy by 2% to 4%, reduce fuel consumption by up to 6%, and lower CO2 emissions by 8 grams per kilometer, according to the U.S. Department of Energy. Nexteer Automotive Corporation estimates that EPS systems have saved approximately 3 billion gallons of gas since 1999.

Continuous technological advancements have significantly improved vehicle quality. Automotive OEMs have introduced numerous features that enhance vehicle aesthetics and performance. Steering knuckle systems have been designed to eliminate the need for a pump, and the integration of IoT in cars marks the next big digital development in the automotive industry. Autonomous vehicles, equipped with EPS systems, promise to revolutionize the driving experience. The rise in vehicle production, coupled with increasing demand for easy maneuverability and fuel-efficient vehicles, is expected to drive the steering knuckle market during the forecast period.

𝐒𝐭𝐞𝐞𝐫𝐢𝐧𝐠 𝐊𝐧𝐮𝐜𝐤𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

1. 𝐄𝐮𝐫𝐨𝐩𝐞: Europe held the largest market share in 2023, accounting for approximately 45%. The region is expected to maintain its dominance due to the presence of major manufacturers and continuous technological advancements.
2. 𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚: The North American market is projected to grow at a CAGR of 6.0% during the forecast period. The U.S. automotive equipment manufacturing industry plays a significant role, despite challenges posed by political turmoil and trade tensions with China.
3. 𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜: The Asia Pacific market is expected to experience substantial growth. The availability of cost-effective manpower and resources, coupled with the presence of numerous automakers in China, is driving market expansion.

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

𝐂𝐨𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧:

The steering knuckle market is poised for significant growth, driven by advancements in the automotive sector, increasing demand for lightweight components, and the rising popularity of all-terrain vehicles. Despite challenges such as high costs and stringent regulations, the market offers numerous opportunities for manufacturers and suppliers to innovate and expand.

𝐅𝐨𝐫 𝐌𝐨𝐫𝐞 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐂𝐥𝐢𝐜𝐤 𝐇𝐞𝐫𝐞: https://www.maximizemarketresearch.com/market-report/global-steering-knuckle-market/70901/

𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐂𝐨𝐧𝐭𝐞𝐧𝐭𝐬:

1. 𝐄𝐱𝐞𝐜𝐮𝐭𝐢𝐯𝐞 𝐒𝐮𝐦𝐦𝐚𝐫𝐲: Key findings and insights from the report.
2. 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐞𝐟𝐢𝐧𝐢𝐭𝐢𝐨𝐧 & 𝐒𝐜𝐨𝐩𝐞: Coverage details, including product/service category and exclusions.
3. 𝐌𝐚𝐫𝐤𝐞𝐭 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞: Current market status, key players, and major trends.
4. 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐢𝐳𝐢𝐧𝐠: Market value estimates with historical data, current size, and future projections.
5. 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧: Breakdown by product type, application, or customer segment, including size and growth potential.
6. 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 (𝐅𝐢𝐯𝐞 𝐅𝐨𝐫𝐜𝐞𝐬 𝐌𝐨𝐝𝐞𝐥): Examines supplier/buyer power, new entrants, and competitive rivalry.
7. 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬: Profiles of market customers, including demographics and buying behavior.
8. 𝐆𝐞𝐨𝐠𝐫𝐚𝐩𝐡𝐢𝐜 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧: Market performance across regions, highlighting growth areas and challenges.
9. 𝐃𝐞𝐜𝐢𝐬𝐢𝐨𝐧 𝐌𝐚𝐤𝐢𝐧𝐠 𝐅𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤: Guide for evaluating market opportunities based on report insights.
10. 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐫𝐢𝐯𝐞𝐫𝐬 & 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬: Factors driving market growth and obstacles hindering it.
11. 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬: Current and emerging trends shaping the market's future.
12. 𝐕𝐞𝐧𝐝𝐨𝐫 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞: Key players, their market share, product portfolios, and recent developments.
13. 𝐕𝐞𝐧𝐝𝐨𝐫 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬: Detailed look at leading vendors, their strengths, weaknesses, strategies, and outlooks.

𝐊𝐞𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐚𝐧𝐬𝐰𝐞𝐫𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐫𝐞:

• Who are the leading companies and what are their portfolios in the Steering Knuckle Market?
• What segments are covered in the Steering Knuckle Market?
• Who are the key players in the Steering Knuckle market?
• Which application holds the highest potential in the Steering Knuckle market?
• What are the key challenges and opportunities in the Steering Knuckle market?
• What is Steering Knuckle?
• What was the Steering Knuckle market size in 2023?
• What will be the CAGR at which the Steering Knuckle market will grow?
• What is the growth rate of the Steering Knuckle Market?
• Which factors are expected to drive the Steering Knuckle market growth?
• What are the different segments of the Steering Knuckle Market?
• What growth strategies are players considering to increase their presence in Steering Knuckle?
• What are the upcoming industry applications and trends for the Steering Knuckle Market?
• What recent industry trends can be implemented to generate additional revenue streams for the Steering Knuckle Market?

𝐊𝐞𝐲 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬:

• Past Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price trends by region (2018 to 2022)
• Market Size, Share, Size & Forecast by different segments | 2024-2030
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation - Detailed analysis by segment and sub-segments and Region
• Competitive Landscape - Profiles of key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional Players
• 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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𝐎𝐮𝐫 𝐀𝐝𝐝𝐫𝐞𝐬𝐬:

𝐌𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐏𝐯𝐭. 𝐋𝐭𝐝.
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