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on April 26, 2024
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 Overview
Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the “Steering Knuckle Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The report provides the current state of the Steering Knuckle market by thorough analysis, and projections are made up to 2030.
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Steering Knuckle Market Scope and Methodology:
The Steering Knuckle market study covers a wide range of topics that impact market dynamics, trends, opportunities, and challenges. It also includes a thorough analysis of the worldwide landscape. This comprehensive analysis also looks at how the market is divided into segments according to services category, company size, end-user sector, and geographical regions. The study also closely examines major industry participants, assessing their approaches, line of business, results, and place in the Steering Knuckle market. To give a comprehensive picture of the market environment, a thorough evaluation of macroeconomic variables, regulatory frameworks, and technical developments is also carried out.
The Steering Knuckle study uses a methodical strategy that combines both primary and secondary methodologies when it comes to research methodology. Primary research include conducting interviews, surveys, and other direct data collection methods with industry stakeholders, such as important market participants, experts in the field, and end consumers. Conversely, secondary research comprises reviewing previously published works, industry journals, corporate reports, government databases, and reliable sources in order to get pertinent data and corroborate conclusions for the Steering Knuckle market report. By ensuring the precision, dependability, and integrity of the insight offered in the payroll outsourcing market research, this rigorous process empowers stakeholders to take well-informed choices and seize new possibilities.
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%, and reduce
Steering Knuckle Market Regional Insights:
The size and trends in the resistant Steering Knuckle market in each of the following regions are thoroughly examined in this research: North America (which includes the United States, Canada, and Mexico); Europe (which includes France, Spain, Germany, Italy, and other European countries); Asia-Pacific (which includes China, Japan, India, Australia, South Korea, ASEAN countries, and others APAC countries); South America (which includes Argentina, Brazil, and other South American countries); and Middle East and Africa (which includes South Africa, Egypt, and other MEA countries).
Steering Knuckle Market Segmentation:
by Vehicle Type
Passenger Cars
Commercial Vehicles
Off-road Vehicles
Others
by Manufacturing Method
Casting
Forging
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.
by Material Type
Steel
Aluminum
Composites
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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 are:
- What is Steering Knuckle?
- What was the Steering Knuckle market size in 2023?
- What will be the CAGR at which the Steering Knuckle market will grow?
- What is the growth rate of the Steering Knuckle Market?
- Which are the factors expected to drive the Steering Knuckle market growth?
- What are the different segments of the Steering Knuckle Market?
- What growth strategies are the players considering to increase their presence in Steering Knuckle?
- What are the upcoming industry applications and trends for the Steering Knuckle Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Steering Knuckle Market?
- Who are the leading companies and what are their portfolios in Steering Knuckle Market?
- What segments are covered in the Steering Knuckle Market?
- Who are the key players in the Steering Knuckle market?
- Which application holds the highest potential in the Steering Knuckle market?
- What are the key challenges and opportunities in the Steering Knuckle market?
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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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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