Steering Knuckle Market Overview
A market study on Steering Knuckle Market filters was released by MMR. The research combines primary and secondary data, and subject matter experts have examined it from both a local and global standpoint. An important tool for investors, the study offers a thorough analysis of the market’s size and share in every area and category.
Market Development for Steering Knuckles:
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.
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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 Report Scope and Research Methodology
At the national, regional, and international levels, the research offers a thorough examination of the Steering Knuckle market. It offers a thorough examination of the competitive environment in the Steering Knuckle market, taking into account the main players’ business plans. A list of the major rivals of Steering Knuckle is provided in the study, together with details on their earnings, volume of production, worldwide reach, and sales. The SWOT analysis was employed to ascertain the advantages and disadvantages of the principal participants in the Steering Knuckle sector. The study also includes detailed information on the potential, challenges, drivers, and restraints of the Steering Knuckle market.
The size of the worldwide and regional Steering Knuckle markets was calculated using the bottom-up method. Data on market size, market share, geographical insights, market dynamics, the performance of major players, and industry historical data were gathered using both primary and secondary research methodologies. The research also contains a thorough value chain analysis with data on distributors, customers, and raw materials that aids in understanding the Steering Knuckle production process. In order to comprehend the Steering Knuckle market at both the macro and micro levels, it also contains Porter’s and PESTLE analysis in addition to market attractiveness.
Steering Knuckle Market Regional Insights
Geographically, 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.
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.
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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
Key Questions answered in the Steering Knuckle Market Report are:
- What is the expected Steering Knuckle market size by 2030?
- What will be the CAGR of the Steering Knuckle market during the forecast period?
- Which segment held the largest share in the Steering Knuckle market?
- How is the competitive scenario of the Steering Knuckle market?
- Which are the key factors driving the Steering Knuckle market growth?
- What are the factors restraining the Steering Knuckle market growth?
- Which region holds the maximum share in the Steering Knuckle market?
- Who are the key players in the Steering Knuckle market?
For detail insights on this market, request for methodology here @ https://www.maximizemarketresearch.com/request-sample/70901
Key Offerings:
- A detailed Market Overview
- Market Share
- Market Size
- Market Forecast by Revenue
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation- A detailed analysis of each segment and their segments
- Competitive Landscape – Leading key players and other prominent key players.
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