Press release
Global Automotive Kingpin Market Forecast to Expand at 6.2% CAGR, Valuing $5.9 Billion by 2033
Automotive Kingpin Market
Surge in production of vehicles and increase in vehicle maintenance requirements are the two primary factors driving the growth of the global automotive kingpin market. However, increase in focus on lightweight automotive component acts as the key restraining factor of the automotive kingpin market. On the contrary, high investment during manufacturing and threat from alternatives are expected to provide lucrative opportunities for the growth of the automotive kingpin market during the forecast period.
Request Sample of the Report on Automotive Kingpin Market Forecast 2033: https://www.alliedmarketresearch.com/request-sample/A323776
Key Market Players
Bosch (Germany)
Continental SA (Germany)
Valeo SA (France)
ACDelco (U.S.)
Michelin Group (France)
Meritor Inc. (U.S.)
Dana Limited (U.S.)
PE Automotive (Germany)
JG Automotive (Spain)
Elgin Industries (U.S.)
Diesel Technic SE (Germany)
Belton Group (UK)
Stemco Products Inc. (U.S.)
Mulberry Fabrications Limited (UK)
Schaffler Technologies (Germany)
Ferdinand Bilstein GmBh (Germany)
Lema Srl (Italy)
GKN Automotive (UK)
Thyssenkrupp AG (Germany)
SKF Group (Sweden)
NSK Ltd. (Japan)
NTN Corporation (Japan)
Hitachi Automotive Systems (Japan)
Hyundai Wia (South Korea)
Mando Corporation (South Korea)
SAIC Motor (China)
Nexxiot AG (Switzerland)
Stemco (U.S.)
Segment Highlights
By product type, the kits segment dominated the automotive kingpin market in 2023. This is attributed to the fact that kits provide a convenient solution for vehicle owners and mechanics by bundling all necessary components together for a specific repair and maintenance task. This convenience is particularly appealing in the aftermarket segment where time and ease of installation are crucial. Meanwhile, the individual parts segment is expected to grow at an increasing rate in the automotive kingpin market. This is due to the fact that some customers prefer the flexibility of purchasing individual kingpin components separately, allowing for customization based on specific vehicle requirements, preferences, and budget constraints.
By vehicle type, the heavy commercial vehicle segment dominated the automotive kingpin market in 2023, as the demand for high-quality kingpins is higher among heavy commercial vehicles. Infrastructure development projects, industrial activities, and the expansion of logistics and transportation sectors are driving the demand for heavy commercial vehicles and, consequently, automotive kingpins. Meanwhile, the light commercial vehicle segment is expected to grow at an increasing rate, due to rapid e-commerce growth, growing urbanization, and rising last-mile delivery services.
By sales channel, the OEM segment dominated the automotive kingpin market in 2023 due to increasing vehicle production and integration of advanced technologies. Meanwhile, the aftermarket segment is expected to grow at a significant rate in the automotive kingpin market, due to the increasing aging of vehicles and growing preference for high-quality replacement parts.
Interested to Procure the Research Report? Inquire Before Buying - https://www.alliedmarketresearch.com/purchase-enquiry/A323776
Regional Outlook
Region wise, Asia-Pacific region dominated the automotive kingpin market in 2023 due to the highest production of vehicles in the region. Meanwhile, North America region is expected to grow at a significant rate in the future due to the increasing sales of commercial vehicles in the region.
Recent Developments
🔹In December 2021, Eurowagon, a polish based railway car pool company, collaborated with Nexxiot, a trade tech company, and launched safety digital products and services. Eurowagon and Nexxiot have extended their cooperation by moving to equip Eurowagon's fleet with the latest Kingpin sensors, which monitor the loading of semi-trailers onto pocket rail wagons. Nexxiot's Kingpin Monitor hardware offer new standards in safety and process automation to different asset types.
🔹 In April 2021, Dana Inc. launched the new ultimate dana kingpin knuckle kits in conjuction with the Easter Jeep Safari in Moab, Utah. The kits include all of the top-quality components required to install a kingpin assembly for more robust off-road performance on Jeep vehicles. The solution is a time-saving alternative to searching and ordering each component individually. The kits feature an updated knuckle design that delivers added strength to the axle while improving turning radius and steering. Available for Jeep JK, JL, and JT models, the ultimate dana kingpin knuckle kits are the newest addition to the dana builder axle program.
🔹In 2024, Diesel Technic SE, a company based in Germany, launched a new automotive kingpin solution. This product is part of the DT Spare Parts brand and includes a comprehensive kingpin kit designed for commercial vehicles. The kit is built to meet high-quality standards, ensuring durability and reliability for heavy-duty applications.
🔹In 2024, Stemco Produts Inc., launched Qwitkit kingpin kit solution. The solution launched no-ream steel bushings and pins. These components are designed to provide optimal lubrication to high-wear areas and hold significantly more grease than standard sets, extending the lifespan of the kingpin. The QwikKit King Pin helps in rapid installations compared to traditional original equipment (OE) and aftermarket king pins, reducing shop time and maintenance costs.
Request for Customization at - https://www.alliedmarketresearch.com/request-for-customization/A323776
Contact:
David Correa
5933 NE Win Sivers Drive
205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Automotive Kingpin Market Forecast to Expand at 6.2% CAGR, Valuing $5.9 Billion by 2033 here
News-ID: 4030407 • Views: …
More Releases from Allied Market Research
Philippines Plastic Extrusion Molded Parts Market Size by Type, Application, and …
According to a new report published by Allied Market Research, titled, Philippines Plastic Extrusion Molded Parts Market by Application: Opportunity Analysis and Industry Forecast, 2016-2023, the Philippines plastic extrusion molded parts market size was valued at $618.9 million in 2016, and is estimated to reach $788.2 million by 2023, registering a CAGR of 3.5% from 2017 to 2023.
The Philippines plastic extrusion molded parts market is driven by the low cost…
Game Engines Market to Witness Robust Growth by 2032: Key Trends and Insights
According to the report, the game engines market was valued at $2.8 billion in 2023, and is estimated to reach $11.4 billion by 2032, growing at a CAGR of 17.1% from 2024 to 2032.
The global game engines market is growing due to several factors such as growing number of game development schools and courses, advancement in technologies and the growing popularity of esports and online gaming.
Request Sample Report (Get…
Bio-polylactic Acid (PLA) Films Market : A Comprehensive Overview and Future Out …
According to a report by Allied Market Research, the global market for bio-polylactic acid films reached $354.8 million in 2020 and is forecasted to achieve $1.39 billion by 2030, with a growth rate of 15.0% from 2021 to 2030. The report offers comprehensive insights into the top investment opportunities, winning strategies, drivers, opportunities, market size estimations, competitive landscape, and evolving market trends.
Market Drivers and Trends:
The growth of the global bio-polylactic…
On-Demand Transportation Market Forecast Through 2032: Insights on Size, Trends, …
On-demand transportation is an internet-based service that is used to book means of transportation in return for money, based on the time and distance it is used for. Various types of vehicles, such as passenger vehicles or commercial vehicles, can be booked or reserved through on-demand transportation services as per the requirement of the consumer. Moreover, the service is highly popular in urban areas, owing to high digitalization and high…
More Releases for Automotive
KSA Automotive Market | KSA Automotive Industry | KSA Automotive Industry Resear …
Saudi Arabia’s automotive market faced a decline in new car sales due to tripling of value-added tax (VAT) rates. Effective in July 1, 2020, Saudi Arabia hiked its VAT from 5% to 15%.
Vision 2030 trying to attract foreign investment to kick start Dammam manufacturing city to aid re-exports & fulfill domestic demand
Surge in Domestic Manufacturing to gain independence of Imports: With Vision 2030, KSA is trying to gain impendence of…
Automotive Fuel Injectors Market: Growing Automotive Sales Fueling Automotive Fu …
Automotive fuel injectors market is likely to grow at a steady pace in the long run, according to a new report by Fact.MR. The demand for automotive fuel injectors continues to remain influenced with a multitude of industry-specific and macroeconomic factors. Significant growth in the automotive sector, coupled with increasing vehicle fleet remain instrumental in driving the demand for automotive fuel injectors worldwide. Fact.MR estimates that the sales of automotive fuel injectors are expected…
Automotive Gearbox Market,Automotive Gearbox Industry, Global Automotive Gearbox …
Latest industry research report on: Global Automotive Gearbox Market : Industry Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth, Segmentation, Parameters, Forecasts
This industry study presents the global Automotive Gearbox market size, historical breakdown data (2013-2018) and forecast (2018-2025). The Automotive Gearbox production, revenue and market share by manufacturers, key regions and type;
The consumption of Automotive Gearbox in volume terms are also provided for major countries (or regions), and for each…
Automotive Windscreen Sales Market – Analysis of Automotive Windscreen Sales G …
Automotive Windscreen Market report provides an in detail study of Manufactures in the market which is based on the various objectives associated with an organization such as Analysis, Market Share, Regional Market Performance, Product Specification, and the Company Introduction.
The latest market intelligence study on Automotive Windscreen Sales market relies on statistics derived from the application of both primary and secondary research to present insights pertaining to the operational model, opportunities…
Global Automotive Windshield Pumps Market 2018- SHW AG, TRW Automotive, Delphi A …
Apex Market Reports, recently published a detailed market research study focused on the "Global Automotive Windshield Pumps Market" across the global, regional and country level. The report provides 360° analysis of "Global Automotive Windshield Pumps Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the Global Automotive Windshield Pumps industry, and estimates the future…
Automotive Steering System Market Players: Mitsubishi Electric, TRW Automotive H …
Automotive steering system market is expected to grow with the CAGR of about 6% from 2016 to 2022. Due to increasing demand for the driving comfort & fuel efficient vehicle as well as increasing vehicle production globally will drive the Automotive steering system market.
Market Scenario
Steering is the connection point between car and driver. It provides control and the feel of the road and plays a key role in the vehicle’s…
