Steering Knuckle Market Report Overview:
The report focuses on key players in the Steering Knuckle industry, highlighting their strategic ambitions and growth strategies. The research evaluates a range of industry methods, including mergers and acquisitions, government and corporate transactions, partnerships and collaborations, joint ventures, brand promotions, and product launches. The latest Market Research Report presents a comprehensive analysis of the market, encompassing precise definitions, classifications, applications, and the industry’s chain structure. With impartial and expert commentary, this report offers valuable insights into the present market scenario. It delves into crucial aspects such as market performance, production and consumption rates, demand and supply dynamics, and projected income generation for the forecast period.
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Estimated Revenue Growth:
The 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 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 Scope and Research Methodology:
The aim of this report is to assess and predict the size of the Steering Knuckle market. It offers strategic profiles of significant market participants to provide an accurate depiction of the competitive landscape within the global Steering Knuckle market. This includes a comprehensive analysis of recent developments such as new product launches, acquisitions, mergers, joint ventures, brand activities, and major players in the Steering Knuckle industry. The report presents insights into industry trends, dynamics, and potentials, assisting professionals in staying informed about the latest trends and sector performance. This insight aids in predicting growth and decline in Steering Knuckle market share over the forecast period.
In-depth understanding of the Steering Knuckle industry was achieved through a combination of primary and secondary research methods. Various methodologies, including PESTLE, PORTER, and SWOT analysis, were employed to ensure accurate findings. SWOT analysis was employed to outline strengths, weaknesses, opportunities, and challenges for key players within the Steering Knuckle industry. Additionally, the use of PORTER and PESTLE analysis allowed for an understanding of the microeconomic and macroeconomic factors influencing the Steering Knuckle industry.
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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.
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
Steering Knuckle Market Regional Perspectives:
The report is segmented into several key countries, with market size, growth rate, import and export of Steering Knuckle 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.
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Key Questions answered in the Steering Knuckle Market Report are:
- Which segment grabbed the largest share in the Steering Knuckle market?
- Which segment is expected to grow at a high rate during the forecast period?
- How is the competitive scenario of the Steering Knuckle market?
- Which are the key factors driving the Steering Knuckle market growth?
- Which are the factors restraining the Steering Knuckle market growth?
- Which region holds the maximum share in the Steering Knuckle market?
- What will be the CAGR of the Steering Knuckle market during the forecast period?
- Which are the prominent players in the Steering Knuckle market?
Key Offerings:
- A detailed Analysis of the Market Overview
- Market Share, Size Forecast by Revenue | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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
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