In the world economic growth, the Steering Knuckle & Stub Axle industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Steering Knuckle & Stub Axle market size to maintain the average annual growth rate of XXX from XXX million $ in 2014 to XXX million $ in 2019, SMI analysts believe that in the next few years, Steering Knuckle & Stub Axle market size will be further expanded, we expect that by 2024, The market size of the Steering Knuckle & Stub Axle will reach XXX million $.
Overview
In modern automotive suspension, the steering knuckle or upper shock absorbers is that component that connects the wheel assembly to the shock absorbers and suspension and includes a screw or bolt. The terms hub and spindle are often used interchangeably but actually refer to two different components. A stub axle or stud axel is one of two axels on a rear axle vehicle, usually one of the front axles. This axle is often capable of twisting around the center kingpin to steer the vehicle, especially if it is a high-speed vehicle such as a sports car or truck. The global steering knuckle & stub axle market focuses on six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The global steering knuckle & stub axle market is expected to witness significant growth during the forecast period, owing to a reduction in the excise duties on the automotive components.
Market Drivers
Robust growth of the automotive industry is expected to drive growth of the global steering knuckle & stub axle market during the forecast period. According to the India Brand Equity Foundation (IBEF), the Indian e-commerce sector is expected to reach US$ 99 billion by 2024, increasing from US$ 30 billion in 2017, registering a CAGR of 27%. Steering knuckle is the pivot of the steering system, which allows the wheels to turn, while the stub axle is one of two front axles capable of angular movement. Hence, these factors are expected to drive growth of the global steering knuckle & stub axle market during the forecast period. Furthermore, reduction in the excise duties on the automotive components is expected to propel the global steering knuckle & stub axle market growth over the forecast period.
Market Restraints
High machining and maintenance costs and lower automation in manufacturing is expected to hamper the global steering knuckle & stub axle market over the forecast period.
Regional Insights
Among regions, Europe is expected to witness significant growth in the global steering knuckle & stub axle market during the forecast period. This is owing to high exports of auto components in the region. Furthermore, Asia Pacific is expected to register a robust growth rate, owing to rapid growth of the automotive industry in emerging economies such as India, Japan, and China.
Competitive Section
Major companies involved in the global steering knuckle & stub axle market are Teksid, NINGBO SAP STEERING SYSTEM, Farinia, Sakthi Auto, TeraFlex Suspensions, ATTC Manufacturing, Happy Forgings, MAG IAS, and Busche Performance.
For instance, in November 2020, Dorman Products Inc. launched over 300 new auto parts and fasteners including steering knuckles.
This Report covers the manufacturers' data, including: shipment, price, revenue, gross profit, interview record, business distribution etc., these data help the consumer know about the competitors better. This report also covers all the regions and countries of the world, which shows a regional development status, including market size, volume and value, as well as price data.
Besides, the report also covers segment data, including: type segment, industry segment, channel segment etc. cover different segment market size, both volume and value. Also cover different industries clients information, which is very important for the manufacturers. If you need more information, please contact SMI
Section 1: Definition
Section (2 3): Manufacturer Detail
Teksid
Farinia
TeraFlex Suspensions
Happy Forgings
Busche Performance
Jikasu Engineering
MAG IAS
ATTC Manufacturing
Sakthi Auto
NINGBO SAP STEERING SYSTEM
Section 4: Region Segmentation
North America Country (United States, Canada)
South America
Asia Country (China, Japan, India, Korea)
Europe Country (Germany, UK, France, Italy)
Other Country (Middle East, Africa, GCC)
Section (5 6 7):
Product Type Segmentation
Steel Material
Aluminum Material
Alloys Material
Industry Segmentation
Passenger Car
Commercial Vehicle
Channel (Direct Sales, Distributor) Segmentation
Section 8: Trend (2019-2024)
Section 9: Product Type Detail
Section 10: Downstream Consumer
Section 11: Cost Structure
Section 12: Conclusion
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