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Automotive Steering Knuckle Market Share

Report ID: GMI12408
Published Date: Nov 2024
Report Format: PDF

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Automotive Steering Knuckle Market Share

Automotive Steering Knuckle Company Market Share, 2024

Continental AG and Benteler hold a market share of over 5% in the automotive steering knuckle industry. Continental is leveraging its expertise in lightweight materials to produce steering knuckles that reduce overall vehicle weight. This supports the industry's move towards fuel efficiency and electric vehicles (EVs). They are focusing on developing aluminum and high-strength steel knuckles to meet the growing demand for lighter automotive parts. This helps the company to maintain a significant presence in the automotive steering knuckle market.

Benteler is expanding in key markets such as Asia Pacific and North America. They are building new production facilities and expanding existing planst to meet the increasing demand for automotive parts in these regions. The company is committed to sustainability, focusing on the recyclable materials and energy-efficient manufacturing processes for steering knuckles. This aligns with the increasing regulatory focus on sustainability in automotive production.

Automotive Steering Knuckle Market Companies

Major players operating in the automotive steering knuckle industry include:

Benteler
Bharat Forge
Bosch
Continental
Dana
Magna International
MAT Foundry
Nexteer Automotive
Thyssenkrupp
ZF Friedrichshafen

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of automotive steering knuckle reached USD 7 billion in 2024 and is estimated to grow at a 4.4% CAGR from 2025 to 2034, driven by the rising shift towards electric vehicles (EVs), especially in North America and Asia Pacific.

In 2024, the passenger cars segment held over 65% of the market share and is expected to surpass USD 6 billion by 2034, led by the demand for fuel-efficient and eco-friendly vehicles.

The Asia Pacific market accounted for 40% of the revenue share in 2024, propelled by growth in vehicle production and sales in countries like India, South Korea, and Japan.

The key players in the industry include Benteler, Bharat Forge, Bosch, Continental, Dana, Magna International, MAT Foundry, Nexteer Automotive, Thyssenkrupp, and ZF Friedrichshafen.