Pune, India, March 2021, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Automotive Steering Knuckle Market.
Global Automotive Steering Knuckle Market size is anticipated to register a significant CAGR of 6% between 2022 and 2030. Automotive steering knuckle is a part of the automotive front axle. Of the many components on the front axle, the steering knuckle plays an important role in deciding the steering angle. Steering knuckle is a safety component in a vehicle. Failure of steering knuckle may cause heavy traffic accidents if there is any quality problem with a system.
The structure of automobile steering knuckle is complex, belongs to compound type of forgings, and it consists of the fork, plate, bar of three parts. Therefore, the forging process needs to comply with the forming characteristics of three kinds of forgings. The steering knuckle is regarded as a highly complex forging part in the automotive industry. The steering knuckle in the vehicle suspension comprises the wheel hub or spindle and is attached to the suspension of the vehicle. It is variously called a steering knuckle, spindle, upright or hub, as well. Steering Knuckle is the automobile component which is quite well associated with the suspension geometry of the vehicle. As the name suggests, it is used where the steering is to be achieved, i.e., in the front. It has a steering arm, on which the tie rod is mounted, to achieve the steering phenomenon. This knuckle does the job of either providing the rest place of hub with the bearing or the knuckle rests on the hub.
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Automotive steering systems offer safe handling of the vehicle and a comfortable ride. Steering knuckles consist of a hub attached to the suspension components, a wheel which is attached by steering knuckle, and the arm of the steering knuckle which is attached to the steering mechanism. Proper functioning of all these components is significant in enabling safe handling and facilitating a comfortable ride and honing the steering knuckle bore enhances the lifespan of wheel bearing and reduces interior noise level and vibration transmitted through the steering wheel.
Global Automotive Steering Knuckle Market, 2022–2030
In 2019, Europe Contributed Significantly to the Automotive Steering Knuckle Market in Terms of Share: MRFR
Based on region, the global Automotive Steering Knuckle market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. Europe is expected to account for a prominent share of the market, in terms of value, due to the presence of several key manufacturers in the region. Technological developments in Europe are expected to create significant opportunities for the steering knuckle market for automotive during the forecast period. The market in Asia Pacific is estimated to expand significantly during the forecast period. The availability of labor and other necessary resources at a low price, in the region, is anticipated to drive the steering knuckle market for automotive during the forecast period. China has a significant number of automotive manufacturers, which is projected to propel the demand for steering knuckle during the forecast period.
The global Automotive Steering Knuckle market has been segmented by type, sales channel, vehicle type, and region. Based on Type, the global Automotive Steering Knuckle market can be bifurcated into alloy, cast iron, and others. The alloy segment is anticipated to grow at a significant CAGR in the coming years. By Sales Channel, the Automotive Steering Knuckle market has been split into OEM and Aftermarket. The OEM segment held a sizeable share and is anticipated to grow at a significant CAGR in the coming years. By vehicle type, the Automotive Steering Knuckle market has been split into passenger cars and commercial vehicles. The passenger cars segment held a sizeable share and is anticipated to grow at a significant CAGR in the coming years.
Global Automotive Steering Knuckle Market size is anticipated to register a significant CAGR of 6% between 2022 and 2030.
Scope of the Report
This report provides an in-depth analysis of the global Automotive Steering Knuckle market, tracking three market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights the market size and shares for North America, Europe, Asia-Pacific, and the rest of the world. The report also presents a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global Automotive Steering Knuckle market by type, sales channel, vehicle type, and region.
Key Players in the Global Automotive Steering Knuckle Market are BEINBAUER GROUP, Bharat Forge, Busche Performance Group, Farinia Group, MAG IAS, Teksid S.p.A., TeraFlex Suspensions, NINGBO SAP STEERING SYSTEM CO. LTD., Sakthi Auto Component Limited (SACL), and Jikasu Engineering Corp.