Press release
Steering Knuckle & Stub Axle Market to Rear Excessive Growth During 2017-2025
The steering knuckle & stub axel are the critical components of the steering and suspension systems. Their functions are directly proportional to the drivers steering movements. The growing automotive industry majorly drives the global steering & stub axle market. Further, the reduction in the excise duties strengthens the auto components industry and also impetuses the revenue generation of steering knuckle & stub axel manufacturers.
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However, some of the challenges in steering knuckle & stub axel are high machining & maintenance costs, lower automation in manufacturing, inventory management challenges (lack of transparency in the supply chain, demand variability, high response time etc.). These challenges restrict the further growth of steering knuckle & stub axle market.
Global Steering Knuckle & Stub Axle Market: Region Wise Outlook
The global steering knuckle & stub axle market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and Middle East and Africa (MEA). Western Europe contributes major share in the steering knuckle & stub axle market due to matured automotive market with high exports of auto components.
The auto component industry in North America is also healthy, for instance around 12.6% exports of automotive parts were recorded in 2015 from the U.S. APAC to grow at a relatively higher CAGR with China, Taiwan, South Korea & India to be major contributing countries for APEJ steering knuckle & stub axle market. The steering knuckle & stub axle market in Japan followed by Eastern Europe are expected to expand at moderate CAGR over the forecast period.
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Global Steering Knuckle & Stub Axle Market: Key Players
Some of the key players identified in the global steering knuckle & stub axle market include: Teksid S.p.A., Farinia SA, TeraFlex Suspensions, Happy Forgings Limited, Busche Performance Group, Jikasu Engineering Corp, MAG IAS GmbH, ATTC Manufacturing, Inc., Sakthi Auto Component Limited (SACL), NINGBO SAP STEERING SYSTEM CO.LTD.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
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