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:
This Steering Knuckle market study looks at current and emerging industry trends and dynamics in the global Steering Knuckle market. Steering Knuckle Extensive market forecasting for the major market segments is carried out between 2024 and 2030. Extensive Steering Knuckle market analysis is carried out by closely monitoring key product positions and the main competitors in the market framework. To understand the competitive landscape of the worldwide Steering Knuckle market, key players are profiled and their strategies are thoroughly evaluated.
Market Scope:
The analysis contains a current examination of the present Steering Knuckle market landscape, as well as the most recent trends and drivers, as well as an overview of the entire Steering Knuckle market environment. Increased demand for Steering Knuckle is driving the market. The Steering Knuckle market research examines the technology, end-user, and type categories, among other things, as well as the geographical landscape.
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Segmentation:
With a 75% market share, the Forging method category led the market in terms of manufacturing technique. More hardness and durability are added to the product throughout the forging process than during any other method because temperature concentrations are maintained constant. The revealed steering knuckle forging method improves the surface quality of the steering knuckle and significantly increases production efficiency. Its process route design is reasonable, straightforward, and doable. The Automotive Components Manufacturers Association (ACMA) claims that the cheap cost and reduced production costs of forged components have contributed to their increasing popularity in recent years. These are the main causes of the segment's significant market share.
Key Players:
The market research report provides comprehensive quantitative insights that provide a clear picture of the worldwide market potential in a variety of categories, as well as country-by-country analyses in each covered topic. The analysis investigates the market's major influencing factors, as well as complete company profiles of
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
Regional Analysis:
Individual market influencing variables and changes in market laws that impact present and future market trends are also included in the regional segment of the Steering Knuckle market study. Data points such as downstream and upstream value chain analysis, technology trends, porter's five forces analysis, and case studies are just a few of the indicators utilized to anticipate market scenarios for various industries. When examining projection data for the region, the existence and availability of global players, as well as the obstacles they face as a result of substantial or low to none competition from local and domestic brands, are all taken into account.
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COVID-19 Impact Analysis on Steering Knuckle Market:
The COVID-19 epidemic has had a significant impact on the global Steering Knuckle industry. Steering Knuckle Production facilities were halted due to the global economic slump and a lack of manpower. The COVID-19 pandemic has led to a significant and extended drop in production utilization, and travel prohibitions and facility closures have kept personnel away from their facilities, causing the Steering Knuckle market to decelerate in 2020. The negative impact of COVID-19 on the Steering Knuckle market, on the other hand, is expected to be transitory, and the sector is expected to revive significantly by early 2023, owing to increased demand for Steering Knuckle.
Key Questions Answered in the Steering Knuckle Market Report are:
Which segment was responsible for the largest share in the Steering Knuckle market?
How was the competitive scenario of the Steering Knuckle market in 2023?
Which are the key factors responsible for the Steering Knuckle market growth?
Which region held the maximum share in the Steering Knuckle market in 2023?