Global Steering Knuckle Market-Industry Analysis and forecast 2020 – 2027Posted by akash Arjun pingale on December 24th, 2020 Global Steering Knuckle Market size was valued US$ XX Mn. in 2019 and the total revenue is expected to grow about 6 % from 2020 to 2027, reaching nearly US$ XX Mn. Global Steering Knuckle Market Global Steering Knuckle Market: Overview Steering Knuckle is a component used in steering system of vehicle. This failure of knuckle may lead to accidents if there is any issue of quality in this system. This Steering Knuckle design is complex, needs compound type forgings, it is assembly of fork, bar, and plate. This system needs forging process to comply the assembly. Steering Knuckle is a highly complex part among all parts in automobile industry. The steering knuckle is used in vehicle suspension system having assembly of wheel hub. The steering knuckle is very important part of vehicle suspension and vehicle steering is fitted to vehicle chassis. Increasing vehicle market along with growth in automotive component manufacturers is driving the growth of Global Steering Knuckle Market. Global Steering Knuckle Market: Material Type The Global Steering Knuckle Market is segmented by material type into Steel, Aluminum, and Alloy. Among these, material steel knuckle has a major market capture, but the advancement in technology and for the reduction of vehicle weight alloy material and aluminum is also the fastest growing segment. Global Steering Knuckle Market: Drivers Globally, vehicle component manufacturers are trying to reduce complexity of vehicles to make it lightweight. Technological advancement and research advancement are driving Global Steering Knuckle Market. Growing Competition among automakers is increasing the growth of adjusting steering system in entry level and mid-level vehicle segment. Global Steering Knuckle Market: Restraints The Steering Knuckle requires high cost of machining and maintenance cost is also high. Steering knuckle joint manufacturing is difficult to atomize. Strict norms of vehicle manufacturing and the continuous progression in other parts manufacturing is larger than the manufacturing capacity per unit time which act as the restraints in growth of Global Steering Knuckle Market. Global Steering Knuckle Market: Region Global Steering Knuckle market is segmented in region such as Asia Pacific, North America, Europe, South America, and Middle East & Africa. North America and Europe are the regions showing positive growth rate in the future. Technological advancement and growing customers buying capacity is driving the market in this region. In Europe, new companies and ventures are rising to offer new technology and finding good future in Global Steering Knuckle Market. Asia Pacific Region is the major market for the steering knuckle market, due to its largest manufacturing capacity and OEMs presence in this region, showing the highest growth in future. Also, the Asia Pacific region has large population distribution and household income in this region is also increasing which is expected to drive future of Steering Knuckle market. Global Steering Knuckle Market: Segmentation The Global Steering Knuckle Market is segmented by Manufacturing Method (Casting, Forging), System Type (Steel, Aluminum, Alloy), End User (Passenger Vehicles, Commercial Vehicles), and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific). for more info:https://www.maximizemarketresearch.com/market-report/global-steering-knuckle-market/70901/
Steering Knuckle Market, by Manufacturing Method • Casting • Steel • Passenger Vehicles • Asia Pacific • Teksid S.p.A About Us: Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors. Contact info: Like it? Share it! More by this author |