Steering Knuckle Market Report Overview
Maximise Market Research has issued papers to help clients understand the landscape of the Steering Knuckle Market in which they compete. The research provides market insights to help clients understand future demand for their product and the Steering Knuckle’s competitiveness. The Steering Knuckle market overview provides detailed information on the market’s size, trade data, key players, and several market metrics such as life cycle, trends, and so on.
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Steering Knuckle Market Growth:
Steering Knuckle Market size was valued at USD 67.61 Bn. in 2023 and the total Steering Knuckle revenue is expected to grow at a CAGR of 6.2 % from 2024 to 2030, reaching nearly USD 103.01 Bn.
Steering Knuckle Market Report Scope and Research Methodology
The Steering Knuckle market report delves into the importance of segments and regional markets, based on factors like market size and growth rate. A comprehensive overview of all segments and regions is outlined within the report. An in-depth analysis of projected statistics, significant developments, and revenue is encompassed in the Steering Knuckle market report. It also entails a thorough examination of the key strategies employed by leading market players to enhance business growth on a global scale while maintaining a competitive edge. The research on the Steering Knuckle market encompasses an evaluation of production, consumption, revenue, market share, and growth rates across the following regions: North America, Europe, Asia-Pacific, South America, the Middle East, and Africa. The application of SWOT analysis offers insights into the strengths and weaknesses of the Steering Knuckle market.
Market Dynamics:
Stringent fuel efficiency standards drive the adoption of advanced automotive steering.
Governments around the world have established stringent automobile emissions and fuel economy regulations. Regulatory bodies such as the National Highway Traffic and Safety Administration in the United States and the International Council on Clean Transportation in Europe have imposed fleet-level regulations. Automobile manufacturers must comply with the average emission cap specified by these guidelines. These restrictions have prompted automakers to invest more in fuel-efficient steering systems, such as electronic power steering.
Electrically assisted power steering systems are less in weight and have a simpler design than traditional hydraulic steering systems. In ideal conditions, EPS (Electronic Power Steering) systems can improve fuel efficiency by 2% to 4%, reduce fuel usage by up to 6%.
Steering Knuckle Market Regional Insights:
The report is segmented into several key countries, with market size, growth rate, import and export of EV Connectors market in these countries, which covering North America, U.S., Canada, Mexico, Europe, UK, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN Countries, Rest of APAC, South America, Brazil, and Middle East and Africa.
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
by Sales Channel
OEM
Aftermarket
According to the manufacturing method, the Forging method segment led the market with a 75% share. Because temperature concentrations are maintained constant, the forging process provides more hardness and endurance to the product than any other method. The disclosed steering knuckle forging process is reasonable in process route design, simple and practical, significantly increases production efficiency, and improves steering knuckle surface quality. According to the Automotive Components Manufacturers Association (ACMA), forged components have gained favour in recent years because to their low cost and decreased component production costs. These are the fundamental drivers driving the segment’s market share.
Forging is the process of applying pressure to metal stock to create plastic deformation in order to obtain a processing technique with precise mechanical performance, shape, and size forging, which is one of the two major characteristics of forging and stamping. Forging is widely used in the mechanical sector in a variety of applications, including the fabrication of knuckle workpieces. However, due to the multiple obstacles that modern design has produced, the process cycle in the current steering knuckle forging technique is longer, requires more time and effort, production efficiency is low, and knuckle quality is only marginally acceptable. As a result, they limit segment growth during the predicted period.
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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
16. MZW Motors
17. Professional Parts Sweden
18. ACDelco Corporation
19. Crown Automotive Sales Co., Ltd.
20. Dorman Products
Table of Content: Steering Knuckle Market
Part 01: Executive Summary
Part 02: Scope of the Steering Knuckle Market Report
Part 03: Steering Knuckle Market Landscape
Part 04: Steering Knuckle Market Sizing
Part 05: Steering Knuckle Market Segmentation by Type
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
Key questions answered in the Steering Knuckle Market are:
- What are the Steering Knuckle Market segments?
- Which Steering Knuckle market segment is expected to grow rapidly during the forecast period?
- What is the expected CAGR of the Steering Knuckle market during the forecast period?
- Who are the top players in the Steering Knuckle industry?
- Which region is expected to grow at a high CAGR during the forecast period?
- Which region held the largest Steering Knuckle market share in 2024?
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Key Offerings:
- Market Overview
- Market Share
- Market Size
- Forecast by Revenue | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by segments, sub-segments and region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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