Pune, 9, Dec, 2022: The report analysed by Maximize Market research, on Steering Knuckle Market covers an extensive regional analysis and competitive landscape. Over the forecast period, Maximize Market research expects, the market to growth from 59.95 Bn in 2021 to 97 Bn in 2029 at a CAGR of 6.2%. As per the report the North American regional steering knuckle market is expected to grow at a CAGR of 6.0%.
Steering Knuckle Market Scope and Research Methodology
The main motive of the report is to give analysis of complicated data in simple language which will be easy to read. The report provides a comprehensive analysis of the Steering Knuckle Market to the stakeholders in the industry by providing profiles of key players. The trends of the industry with the forecasted market size presented in the report. All the major aspects of the Steering Knuckle Market are covered in the report. It also presents a dedicated study of key players that include market leaders, followers, and new entrants. The analysis of the Steering Knuckle Market is provided in at a local, regional and global level. The report also presents the analysis of drivers, restraints, challenges and opportunities which makes it an investor’s guide.
The bottom-up approach was used to estimate the market size. Data collected in the report is the mixture of both primary research method and secondary research method. Primary methods used were surveys, questionnaire distribution, and phone interviews with industries expert, market leaders, marketing professionals and entrepreneurs. Secondary data was collected carefully from the list of sources to ensure that the conclusions drawn were correct. This research method includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases. For the better analysis, the Steering Knuckle Market is segmented based on vehicle type, manufacturing method and material type. SWOT analysis was employed to provide the strengths and weaknesses of the Steering Knuckle Market. PORTER, PESTEL analysis was conducted to understand the impact of micro-economic factors of the Steering Knuckle Market.
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Steering Knuckle Market Overview
The steering knuckle which provides accurate flatness and radius is an important component of steering assembly. It is a piece of steel that is connected to the various protruding arms that are located behind the front wheel. Stability and safety is provided by it to the front suspension. The booming automotive sector is driving the Steering Knuckle Market. Electrical automobile parts are possible to repair, but due to the high cost of repairing and maintenance electronic power steering knuckles and normal Steering Knuckle the growth of the Steering Knuckle market is expected to limit.
Steering Knuckle Market Dynamics
Growing demand for easy vehicle manoeuvrability, rising vehicle production with rising demand for fuel-efficient vehicles and other technological advancements in the automotive industry in the world are expected to boost the Steering Knuckle Market during the projected period.
In coastal and rocky locations the all-terrain vehicles are becoming more popular. The rising demand for it is expected to drive the Steering Knuckle Market. With the low cost of labor and other resources the off-road leisure activities are rising which is expected to provide various possibilities throughout the forecast period.
The high cost of maintenance and machining of the global steering knuckle market is expected to act as restraint during the forecast period.
Steering Knuckle Market Regional Insights
Europe region dominated the Steering Knuckle market with the largest share of 45% in 2021. In terms of volume and value the region is expected to maintain its dominance during the forecast period. Throughout the projected period, Technological breakthroughs in region are the one who are expected to create opportunities for the Steering Knuckle Market.
During the forecast years, the Steering Knuckle Market of North America region is predicted to grow at a CAGR of 6.0%. In the Asia Pacific region, availability of manpower and other resources at a reasonable cost is expected to grow the automotive Steering Knuckle Market over the projected period.
Steering Knuckle Market Segmentation
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Off-road Vehicles
By Manufacturing Method
By Material Type
Steering Knuckle Market Key Competitors Include:
- Teksid S.p.A. (Italy)
- Farinia SA (USA)
- TeraFlex Suspensions (USA)
- Happy Forgings Limited (India)
- Busche Performance Group (USA)
- Jikasu Engineering Corp (India)
- MAG IAS GmbH (Germany)
- ATTC Manufacturing, Inc. (USA)
- Sakthi Auto Component Limited (SACL) (India)
- NINGBO SAP STEERING SYSTEM CO.LTD (China)
- Beinbauer Group (Germany)
- Bharat Forge (India)
- Mevotech LP
- MOOG Parts
- MZW Motors
- Professional Parts Sweden
- ACDelco Corporation
- Crown Automotive Sales Co., Ltd.
- Dorman Products
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Key questions answered in the Steering Knuckle Market are:
- What is Steering Knuckle?
- What is the growth rate of Steering Knuckle Market?
- Who are the key players in the Steering Knuckle Market?
- Who are the market leaders in Steering Knuckle Market industry in Europe?
- Who are the market leaders in Steering Knuckle Market in Asia Pacific?
- What are the factors affecting growth in the Steering Knuckle Market?
- Who held the largest market share in Steering Knuckle Market?
- What are the factors for the growth of Asia-Pacific region in Steering Knuckle Market?
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Vehicle Type, Manufacturing Method and Material Type
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading Automotive and Transportation research firm, has also published the following reports:
Automotive Steering Systems Market – The Global Automotive Steering Systems Market is expected to reach USD 44.30 billion by 2029 at a CAGR of 4.7 percent during the forecast period. The Global Automotive Steering Systems Market is expected to be driven by rigid Fuel Efficiency Norms and increasing demand for electric vehicles
Electric Power Steering Market – The Global Electric Power Steering Market is expected to reach USD 38.17 billion by 2029 at a CAGR of 5.7 percent during the forecast period. The Global Electric Power Steering Market is expected to be driven by government initiatives for safe automotive systems
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