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

The global automotive steering knuckle market is driven by the rising demand for lightweight materials to improve fuel efficiency, the increasing adoption of advanced steering technologies, and the growth of commercial vehicle production. These factors contribute to enhanced vehicle performance, safety, and durability. These are the factors driving the 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 was valued at USD 2.89 Billion in 2023 and is expected to reach USD 4.32 Billion by 2029 with a CAGR of 6.99% during the forecast period. The automotive steering knuckle market is witnessing substantial expansion, driven by key factors such as the increasing demand for lightweight materials, technological advancements in steering systems, and higher vehicle production volumes. Automakers are prioritizing the reduction of vehicle weight for better fuel efficiency and performance, leading to the widespread use of materials like aluminum and magnesium in steering knuckle production. At the same time, innovations like steer-by-wire and active steering systems are increasing the demand for high-performance, durable steering knuckles.

As consumer demand for vehicles with superior handling, comfort, and safety features grows, the need for high-quality, durable steering knuckles intensifies. Automakers are focusing on improving steering system performance, particularly in the luxury and performance vehicle segments, to meet these expectations. Advanced steering knuckles, offering better control and stability, are essential for achieving enhanced precision and handling. The increasing demand for high-performance steering knuckles is driving innovation in markets that prioritize driving experience. However, the rise of electric, autonomous, and performance-oriented vehicles poses challenges, as automakers require steering knuckles tailored to specific needs, such as weight reduction and durability. Meeting these demands requires flexible production processes and advanced materials to accommodate varying vehicle requirements while ensuring cost-effectiveness. Manufacturers must balance the need for customization with standardization to remain competitive. Furthermore, sustainability trends are reshaping the market, as companies explore eco-friendly materials and manufacturing techniques to reduce environmental impact. The use of recycled materials and green technologies in steering knuckle production aligns with stricter environmental regulations and growing consumer demand for sustainable products. This shift presents opportunities for innovation and market growth, as automakers seek to meet both performance and sustainability goals.

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The Global Automotive Steering Knuckle Market is segmented into vehicle type, type, sales channel type and region.

The global automotive steering knuckle market is segmented by vehicle type into passenger cars and commercial vehicles. Passenger cars, which make up a substantial portion of the automotive market, rely on steering knuckles to ensure smooth and stable steering performance. As consumer demand for improved handling, safety, and comfort continues to rise, automakers are increasingly incorporating advanced steering knuckles into their designs. The performance requirements for passenger vehicles, especially in luxury and high-performance segments, drive the need for lightweight, durable, and precise steering knuckles. Innovations in electric and hybrid vehicles, along with the growing emphasis on fuel efficiency, also contribute to the demand for specialized steering knuckles in this segment.Commercial vehicles, including trucks, buses, and vans, require steering knuckles that can withstand higher loads and stresses due to their larger size and heavier weight. The demand for commercial vehicles is increasing in line with the growth of global transportation and logistics industries. Steering knuckles used in commercial vehicles need to provide robust performance, durability, and reliability to ensure the stability and safety of these vehicles, especially when transporting goods over long distances. The continued growth in e-commerce and the logistics sector further amplifies the need for advanced steering knuckles in commercial vehicles. The automotive steering knuckle market is being shaped by the varying requirements of these two segments. While passenger vehicles focus on performance and lightweight design, commercial vehicles prioritize durability and strength. Both segments contribute to the overall growth of the steering knuckle market as automakers continue to develop solutions that enhance vehicle performance, safety, and efficiency..

In 2023, North America emerged as the fastest-growing region in the global automotive steering knuckle market. The region's automotive industry is experiencing robust growth, driven by increasing vehicle production and the rising demand for advanced vehicle technologies. The growing focus on electric vehicle (EV) production, particularly in the U.S. and Canada, has significantly contributed to the demand for lightweight and high-performance steering knuckles. EV manufacturers in the region are emphasizing the reduction of vehicle weight and the integration of advanced steering systems, which requires specialized steering knuckles that offer both durability and precision.

The shift toward autonomous vehicles in North America is another key factor accelerating market growth. As automakers push the boundaries of innovation in autonomous driving, the need for highly precise and durable components, such as steering knuckles, is growing. The automotive industry's focus on improving vehicle safety and performance also drives the demand for high-quality steering knuckles, as these components are crucial for ensuring vehicle stability and control. North America's strong emphasis on sustainability and eco-friendly manufacturing practices is fostering the development of green technologies in the automotive sector. As manufacturers look for ways to reduce environmental impact, the adoption of recycled materials and sustainable production methods for steering knuckles is becoming more prominent, further propelling market growth.

Major market players operating in Global Automotive Steering Knuckle Market are: 

• Magna International Inc.
• ZF Friedrichshafen AG
• Thyssenkrupp AG
• AISIN CORPORATION
• BorgWarner Inc.
• Dana Incorporated
• JTEKT Corporation
• Schaeffler Group
• BENTELER International AG
• Motherson Group

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“The global automotive steering knuckle market is growing due to rising demand for enhanced vehicle performance, advancements in steering technologies, and increased vehicle production. North America is experiencing rapid growth, driven by the adoption of electric and autonomous vehicles, a focus on lightweight components, and improved vehicle safety. As consumer awareness of performance and safety rises, the demand for high-quality, durable steering knuckles continues to increase. These factors will drive further market growth in the forecast period” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.

“Automotive Steering Knuckle Market -Global Industry Size, Share, Trends, Opportunity, Segmented By Vehicle Type (Passenger Cars, Commercial Vehicles), By Type (Alloy, Cast Iron, Others), By Sales Channel Type (OEM, Aftermarket), By Region, By Competition, 2019-2029F”, The report evaluates the future growth potential of the Global Automotive Steering Knuckle Market, offering insights into market size, structure, and projected growth. It aims to provide comprehensive market intelligence to support decision-makers in making informed investment decisions. Additionally, the report identifies and analyzes emerging trends, key drivers, challenges, and opportunities in the Global Automotive Steering Knuckle Market.

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