Automotive Steering Knuckle Market to Grow 6.99% CAGR Through to 2029

Rising Automotive Production, Focus on Lightweight Materials and Safety and Regulatory Compliance are factors driving the Global Automotive Steering Knuckle market in the forecast period 2025-2029.

 

According to TechSci Research report, “Automotive Steering Knuckle Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029F”, the Global Automotive Steering Knuckle Market stood at USD 1.6 billion in 2023 and is anticipated to grow with a CAGR of 6.99% in the forecast period, 2025-2029. The Global Automotive Steering Knuckle Market is experiencing significant growth, driven by several key factors. One of the primary drivers is the rising demand for passenger and commercial vehicles worldwide. With increasing urbanization and disposable incomes, the global automotive industry is witnessing a surge in vehicle sales, leading to a higher demand for steering knuckles. Additionally, the growing emphasis on vehicle safety and performance is fueling the adoption of advanced steering knuckle technologies that enhance stability, control, and maneuverability. Moreover, the automotive aftermarket sector is playing a crucial role in driving market growth, as vehicle owners seek replacement parts and upgrades to maintain and improve their vehicles' performance.

Several trends are shaping the growth trajectory of the Global Automotive Steering Knuckle Market. One notable trend is the integration of lightweight materials such as aluminum and composites in steering knuckle design. This trend is driven by the automotive industry's focus on reducing vehicle weight to improve fuel efficiency and meet regulatory standards for emissions and fuel consumption. Lightweight steering knuckles offer the dual benefits of reducing vehicle mass and enhancing handling characteristics, making them increasingly attractive to automakers and consumers alike. Furthermore, the trend towards electric and autonomous vehicles is driving innovation in steering knuckle design to accommodate the unique requirements of these emerging vehicle technologies, such as regenerative braking systems and advanced driver assistance features.

Despite the opportunities for growth, the Global Automotive Steering Knuckle Market also faces several challenges. One significant challenge is the increasing complexity of modern vehicles and steering systems. As vehicles become more technologically advanced, steering knuckles must accommodate a wide range of sensors, actuators, and electronic components, adding complexity to their design and manufacturing processes. Moreover, the globalization of the automotive supply chain poses challenges related to quality control, supply chain management, and intellectual property protection. Ensuring the consistent quality and reliability of steering knuckles across different regions and suppliers requires robust quality assurance measures and collaboration among stakeholders.

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Alloy steering knuckles are gaining traction due to their lightweight properties and high strength-to-weight ratio. These knuckles are typically made from aluminum or other lightweight alloys, making them ideal for modern vehicles focused on fuel efficiency and performance. Alloy steering knuckles offer advantages such as improved handling, reduced vehicle weight, and enhanced corrosion resistance compared to traditional cast iron knuckles. As automakers strive to meet stringent regulatory standards for emissions and fuel consumption, the demand for alloy steering knuckles is expected to rise, especially in passenger cars and light commercial vehicles.

Cast iron steering knuckles have long been a staple in the automotive industry due to their durability, reliability, and cost-effectiveness. Cast iron knuckles provide robust performance and withstand heavy loads and harsh operating conditions, making them suitable for heavy-duty applications such as trucks, buses, and off-road vehicles. While cast iron steering knuckles may be heavier than alloy counterparts, they offer superior strength and stability, making them preferred for vehicles that prioritize ruggedness and durability over weight savings. Despite the increasing popularity of alloy steering knuckles, cast iron knuckles continue to find significant demand in certain automotive segments where strength and longevity are paramount.

North America boasts a mature automotive industry with stringent safety regulations, driving the demand for high-quality steering knuckles. In Europe & CIS, a tradition of engineering excellence and a focus on sustainability propel the adoption of lightweight materials and advanced manufacturing processes in steering knuckle production. Meanwhile, the Asia Pacific region, led by countries like China and India, experiences rapid automotive industry growth, fueling demand for steering knuckles to support the burgeoning vehicle production volumes. South America and the Middle East & Africa regions also contribute to the global market with investments in automotive manufacturing infrastructure and increasing vehicle ownership. Overall, regional variations in regulatory standards, manufacturing capabilities, and market demands shape the dynamics of the global automotive steering knuckle market.

Major companies operating in Global Automotive Steering Knuckle Market are:

• Beinbauer Automotive GmbH & Co. KG
• Bharat Forge Limited
• Farinia SA
• Happy Forgings Limited
• Jikasu Engineering Corporation
• NINGBO SAP STEERING SYSTEM CO., LTD
• Sakthi Auto Component Limited
• TEKSID SPA

 

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“The global automotive steering knuckle market is experiencing dynamic growth, propelled by surging automotive production, technological advancements, and a focus on lightweight materials. As emerging markets drive increased vehicle demand, manufacturers are integrating sophisticated technologies like Electric Power Steering (EPS) and steer-by-wire systems, necessitating continual innovation in steering knuckle design. The industry's shift towards lightweight materials such as aluminum and high-strength steel aligns with environmental concerns and stringent fuel efficiency standards. Additionally, safety imperatives and regulatory compliance contribute to the pivotal role of steering knuckles in enhancing vehicle safety. With a confluence of factors driving innovation, the global automotive steering knuckle market stands at the forefront of shaping the future of automotive safety and performance.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“Automotive Steering Knuckle Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Vehicle Type (Passenger Cars, Commercial Vehicles), By Type (Alloy, Cast Iron, Others), By Sales Channel (OEM, Aftermarket), By Region, Competition, 2019-2029F”, has evaluated the future growth potential of Global Automotive Steering Knuckle Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Automotive Steering Knuckle Market.

 

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