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Automotive Steering Knuckle Market Size, By Vehicle, By Material, By Manufacturing Process, By Application, By Sales Channel, Growth Forecast 2025 – 2034
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Automotive Steering Knuckle Market
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Premium Report Details
Base Year: 2024
Companies covered: 20
Tables & Figures: 200
Countries covered: 21
Pages: 175
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Automotive Steering Knuckle Market Size
The global automotive steering knuckle market was valued at USD 7 billion in 2024 and is estimated to register a CAGR of 4.4% between 2025 and 2034. The growth of the market can be attributed to the rising shift towards EVs, especially in North America and Asia Pacific. According to Statista, in 2023, the EV market reached a total revenue of USD 769.3 billion with China and the U.S. making up about 70% of the global revenue in 2023 and the market is expected to grow at a CAGR of over 25% by 2029.
EVs have different characteristics in their design process than ICE vehicles because of a focus on weight reduction, improved efficiency of the powertrain, and overall construction of the car's performance. Vehicle manufacturers have started incorporating lightweight materials in their components, such as steering knuckles, and they include aluminum and high-strength steel. These materials reduce the mass of the vehicle, thus increasing the efficiency and range of EVs, which subsequently leads to better battery performance.
The demand for lightweight parts like steering knuckles has increased as EV manufacturers strive to optimize vehicle weight for improved fuel economy and to comply with CO2 emission regulations. This particularly grows in prominence in the automotive industry as manufacturers race against time to meet changing regulatory standards. By employing materials such as aluminum, energy consumption minimization is achieved, which meets regulatory standards and bolsters the automotive sector.
The growing number of aging vehicles on the road and an increase in vehicle ownership globally contribute to the growth of the aftermarket for steering knuckles. The aftermarket revenues of steering knuckle suppliers in the automotive sector are driven by the age of the vehicle, as steering knuckles need to be replaced after a while as they wear out. During maintenance and repair in regions such as North America and Europe, where old-aged vehicles are common, the demand for steering knuckles increases. Further, custom motorcycles are further expanding the market since people are now changing their steering knuckles to enhance performance and durability.
Automotive Steering Knuckle Market Trends
The substitute steering knuckles enable innovations such as ADAS, autonomous driving technologies, and zonal electrical architecture to revolutionize the design of vehicles. These innovations are reliant on steering knuckles for various systems integration, such as sensors, suspension systems, and brake mounting. The combination of a steering position sensor and ADAS drives the demand for steering knuckles that are small, light, and very strong. Due to the complex nature of the components and the need for the driver to be in control for safety, modern systems also mean that motors need to be tougher and more resistant to stress.
The need for steering knuckles capable of meeting the more stringent requirements during a collision and ensuring the protection of pedestrians is increasing, particularly in the Europe and North America region because of the higher safety regulations.
With consumers pressuring for a vehicle with integrated functionalities such as lane departing assist and automatic brakes, the steering knuckle is expected to do its job efficiently even under extremely high levels of stress. Such features, along with the tougher safety regulations, have further elevated the expectations from manufacturers, as it also pushes for the steering knuckles to endure greater force and lift their examination standards.
The goal of Centre Automotive, an e-commerce market leader in the supply of automotive components is to target customer experience now that plans are made to introduce e-commerce websites into the business. The firm's first step in its growth strategy was to set up the retail e-commerce website SteeringKnuckle.co.uk, which went live in May 2020 and now makes it simpler for clients to purchase whatever they require from the Steering Knuckle product range.
The user-friendliness of the website is oriented towards and assists customers in locating the necessary parts, after which they can self-serve by paying with their preferred method. Audi, Ford, Seat, VW, Skoda among other car brands were included in the casting parts advertised on the retail e-commerce website. Parts for additional brands will be added in accordance with wider policies on product expansion.
Materials that are manufactured, including aluminum, magnesium, or steel, are crucial when it comes to the production of automotive steering knuckles. However, there can be global supply interruptions, active geopolitical conflicts, and significant natural disasters. All of these considerably influence the pricing of the materials for the manufacturers. To give an example, during the recent pandemic, the supply chain faced problems that resulted in the material’s pricing reaching new heights alongside the delayed delivery of parts.
This combination made it exceedingly difficult for the manufacturers to keep up with the demands. Keeping in mind the particular costs that correlate with these types of manufacturers, this sudden rise in the materials’ prices can become an immense difficulty, especially for the smaller manufacturers that are not as financially stable.
Automotive Steering Knuckle Market Analysis
Based on vehicle, the market is divided into passenger cars, commercial vehicles and off-road vehicles. In 2024, the passenger cars segment held a automotive steering knuckle market share of over 65% and is expected to cross USD 6 billion by 2034.
Based on material, the automotive steering knuckle market is categorized into cast iron, steel, aluminum, and others. The cast iron segment held a market share of around 40% in 2024.
Asia Pacific dominated the global automotive steering knuckle market with a major share of over 40% in 2024 and China leads the market in the region.
Automotive Steering Knuckle Market Share
Continental AG and Benteler hold a market share of over 5% in the automotive steering knuckle industry.
Automotive Steering Knuckle Market Companies
Major players operating in the automotive steering knuckle industry include:
With the growing blend of lightweight materials, innovation in vehicle designs, and an increase in focus on a vehicle’s safety and performance steering knuckles, the automotive steering knuckle market is growing, and the competition has increased. Steering knuckles are crucial components for both electric vehicles and conventional vehicles as they guarantee precise handling, suspension stability, and vehicle dynamics respectively. Also, the rivalry has also been heightened with regional and local suppliers coming in and providing affordable alternatives to a vehicle’s steering knuckle, which can create space for customization based on the vehicle type or segments of a market.
In an effort to come up with inventions, automotive steering knuckle manufacturing companies have collaborated with global manufacturers and invested in research and development. For instance, to keep the vehicle strong while meeting the broader industry standards, engineers have combined aluminum and other high-strength alloys. This goal aids in meeting the growing demand for stricter fuel efficiency and emissions together.
Automotive Steering Knuckle Industry News
In November 2024, Steel Strips Wheels (SSWL) announced their entry into the cut-throat automotive components space with the launch of Aluminum Steering Knuckle for the Indian Market. The company has also announced the commencement of commercial production from their Mehsana, Gujarat-based facility.
In November 2024, Nissan announced the establishment of its Cantabria plant to manufacture the steering knuckle and rear knuckle for the new Nissan Kicks, which is manufactured in Mexico for the American market. This project will increase the plant’s capacity by 526,000 annual components or over 5,700 tons of a new iron type.
The automotive steering knuckle market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue ($Bn) and shipment (units) from 2021 to 2034, for the following segments:
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Market, By Vehicle
Market, By Material
Market, By Manufacturing Process
Market, By Application
Market, By Sales Channel
The above information is provided for the following regions and countries: