Automotive Steering Knuckle Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025 to 2034
The Global Automotive Steering Knuckle Market was valued at USD 7 billion in 2024 and is projected to grow at 4.4% CAGR from 2025 to 2034. This market expansion is largely driven by the increasing adoption of electric vehicles (EVs) and the growing need for lightweight, energy-efficient automotive components. As automakers work to enhance fuel economy and meet stringent CO2 emission regulations, the demand for lightweight parts, such as steering knuckles, is rising across the automotive industry.
The shift towards EVs, particularly in regions like North America and Asia Pacific, is a key factor fueling this demand. With the push to make vehicles lighter, manufacturers are turning to materials such as aluminum to reduce weight. Lightweight components not only help lower energy consumption but also support sustainability goals and regulatory compliance. The trend towards using aluminum and other lightweight materials in steering knuckles is not limited to electric vehicles but, extends to the broader automotive sector as part of efforts to meet increasingly strict environmental standards.
The automotive steering knuckle market is segmented by vehicle type into passenger cars, commercial vehicles, and off-road vehicles. In 2024, passenger cars dominated the market, holding a share of 65%. This segment is expected to generate USD 6 billion by 2034, driven by the growing consumer preference for fuel-efficient and eco-friendly vehicles. As electric vehicles require lightweight parts to maximize battery life and range, the demand for lightweight steering knuckles in passenger cars is strong. Moreover, the rise of advanced driver-assistance systems (ADAS) and autonomous driving features is increasing the need for high-performance steering knuckles to support enhanced safety systems, such as collision detection and lane-keeping assist.
Based on material, the market is classified into steel, aluminum, cast iron, and other materials being the primary categories. Cast iron accounted for a 40% share in 2024. Known for its durability and cost-effectiveness, cast iron remains a popular choice for steering knuckles, particularly in commercial vehicles and high-performance applications. It provides the strength required for heavier vehicles while being easy to manufacture, making it an attractive option for mass production. Cast iron's widespread use is especially prominent in North America and Europe, where it is a standard material for a variety of vehicle types.
Asia Pacific automotive steering knuckle market accounted for a 40% share in 2024. The region is seeing rapid growth in vehicle production and sales, driven by government incentives and infrastructure investments promoting the adoption of electric vehicles. This growth in production and sales is further driving the demand for steering knuckles, particularly in markets like China and India.
The shift towards EVs, particularly in regions like North America and Asia Pacific, is a key factor fueling this demand. With the push to make vehicles lighter, manufacturers are turning to materials such as aluminum to reduce weight. Lightweight components not only help lower energy consumption but also support sustainability goals and regulatory compliance. The trend towards using aluminum and other lightweight materials in steering knuckles is not limited to electric vehicles but, extends to the broader automotive sector as part of efforts to meet increasingly strict environmental standards.
The automotive steering knuckle market is segmented by vehicle type into passenger cars, commercial vehicles, and off-road vehicles. In 2024, passenger cars dominated the market, holding a share of 65%. This segment is expected to generate USD 6 billion by 2034, driven by the growing consumer preference for fuel-efficient and eco-friendly vehicles. As electric vehicles require lightweight parts to maximize battery life and range, the demand for lightweight steering knuckles in passenger cars is strong. Moreover, the rise of advanced driver-assistance systems (ADAS) and autonomous driving features is increasing the need for high-performance steering knuckles to support enhanced safety systems, such as collision detection and lane-keeping assist.
Based on material, the market is classified into steel, aluminum, cast iron, and other materials being the primary categories. Cast iron accounted for a 40% share in 2024. Known for its durability and cost-effectiveness, cast iron remains a popular choice for steering knuckles, particularly in commercial vehicles and high-performance applications. It provides the strength required for heavier vehicles while being easy to manufacture, making it an attractive option for mass production. Cast iron's widespread use is especially prominent in North America and Europe, where it is a standard material for a variety of vehicle types.
Asia Pacific automotive steering knuckle market accounted for a 40% share in 2024. The region is seeing rapid growth in vehicle production and sales, driven by government incentives and infrastructure investments promoting the adoption of electric vehicles. This growth in production and sales is further driving the demand for steering knuckles, particularly in markets like China and India.
Report Content
CHAPTER 1 METHODOLOGY & SCOPE
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates & calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimation
1.3 Forecast model
1.4 Primary research and validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market scope & definition
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Industry 360° synopsis, 2021 - 2034
CHAPTER 3 INDUSTRY INSIGHTS
3.1 Industry ecosystem analysis
3.1.1 Raw material supplier
3.1.2 Component suppliers
3.1.3 Manufacturers
3.1.4 Aftermarket providers
3.1.5 End users
3.2 Supplier landscape
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Growing demand for lightweight materials to meet fuel efficiency and emissions standards
3.8.1.2 Increased EV production requiring specialized steering knuckles
3.8.1.3 Advancements in vehicle safety and autonomy boosting steering knuckle needs
3.8.1.4 Growing vehicle fleets and aging cars driving aftermarket demand
3.8.2 Industry pitfalls & challenges
3.8.2.1 Raw material price volatility and supply chain disruptions
3.8.2.2 Technological complexities
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
CHAPTER 4 COMPETITIVE LANDSCAPE, 2024
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
CHAPTER 5 MARKET ESTIMATES & FORECAST, BY VEHICLE, 2021 - 2034 ($BN, UNITS)
5.1 Key trends
5.2 Passenger cars
5.2.1 Sedans
5.2.2 Hatchbacks
5.2.3 SUVs
5.2.4 Others
5.3 Commercial vehicles
5.3.1 Light Commercial Vehicles (LCVs)
5.3.2 Heavy Commercial Vehicles (HCVs)
5.4 Off-road vehicles
5.4.1 Construction equipment
5.4.2 Mining equipment
CHAPTER 6 MARKET ESTIMATES & FORECAST, BY VEHICLE, 2021 - 2034 ($BN, UNITS)
6.1 Key trends
6.2 Cast iron
6.3 Steel
6.4 Aluminum
6.5 Others
CHAPTER 7 MARKET ESTIMATES & FORECAST, BY MATERIAL, 2021 - 2034 ($BN, UNITS)
7.1 Key trends
7.2 Casting
7.3 Forging
7.4 Machining
7.5 Others
CHAPTER 8 MARKET ESTIMATES & FORECAST, BY APPLICATION, 2021 - 2034 ($BN, UNITS)
8.1 Key trends
8.2 Front steering knuckle
8.3 Rear steering knuckle
CHAPTER 9 MARKET ESTIMATES & FORECAST, BY SALES CHANNEL, 2021 - 2034 ($BN, UNITS)
9.1 Key trends
9.2 OEM
9.3 Aftermarket
CHAPTER 10 MARKET ESTIMATES & FORECAST, BY REGION, 2021 - 2034 ($BN, UNITS)
10.1 Key trends
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 Russia
10.3.7 Nordics
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 Australia
10.4.5 South Korea
10.4.6 Southeast Asia
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.5.3 Argentina
10.6 MEA
10.6.1 UAE
10.6.2 South Africa
10.6.3 Saudi Arabia
CHAPTER 11 COMPANY PROFILES
11.1 American Axle & Manufacturing
11.2 Benteler
11.3 Bharat Forge
11.4 Bosch
11.5 Continental
11.6 Dana Incorporated
11.7 GKN Automotive
11.8 Hitachi Astemo
11.9 Hyundai Mobis
11.10 KYB Corporation
11.11 Linamar
11.12 Magna International
11.13 Mando Corporation
11.14 MAT Foundry
11.15 Nexteer Automotive
11.16 SMW Automotive
11.17 Superior Industries
11.18 Teksid
11.19 Thyssenkrupp
11.20 ZF Friedrichshafen
CHAPTER 1 METHODOLOGY & SCOPE
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates & calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimation
1.3 Forecast model
1.4 Primary research and validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market scope & definition
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Industry 360° synopsis, 2021 - 2034
CHAPTER 3 INDUSTRY INSIGHTS
3.1 Industry ecosystem analysis
3.1.1 Raw material supplier
3.1.2 Component suppliers
3.1.3 Manufacturers
3.1.4 Aftermarket providers
3.1.5 End users
3.2 Supplier landscape
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Growing demand for lightweight materials to meet fuel efficiency and emissions standards
3.8.1.2 Increased EV production requiring specialized steering knuckles
3.8.1.3 Advancements in vehicle safety and autonomy boosting steering knuckle needs
3.8.1.4 Growing vehicle fleets and aging cars driving aftermarket demand
3.8.2 Industry pitfalls & challenges
3.8.2.1 Raw material price volatility and supply chain disruptions
3.8.2.2 Technological complexities
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
CHAPTER 4 COMPETITIVE LANDSCAPE, 2024
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
CHAPTER 5 MARKET ESTIMATES & FORECAST, BY VEHICLE, 2021 - 2034 ($BN, UNITS)
5.1 Key trends
5.2 Passenger cars
5.2.1 Sedans
5.2.2 Hatchbacks
5.2.3 SUVs
5.2.4 Others
5.3 Commercial vehicles
5.3.1 Light Commercial Vehicles (LCVs)
5.3.2 Heavy Commercial Vehicles (HCVs)
5.4 Off-road vehicles
5.4.1 Construction equipment
5.4.2 Mining equipment
CHAPTER 6 MARKET ESTIMATES & FORECAST, BY VEHICLE, 2021 - 2034 ($BN, UNITS)
6.1 Key trends
6.2 Cast iron
6.3 Steel
6.4 Aluminum
6.5 Others
CHAPTER 7 MARKET ESTIMATES & FORECAST, BY MATERIAL, 2021 - 2034 ($BN, UNITS)
7.1 Key trends
7.2 Casting
7.3 Forging
7.4 Machining
7.5 Others
CHAPTER 8 MARKET ESTIMATES & FORECAST, BY APPLICATION, 2021 - 2034 ($BN, UNITS)
8.1 Key trends
8.2 Front steering knuckle
8.3 Rear steering knuckle
CHAPTER 9 MARKET ESTIMATES & FORECAST, BY SALES CHANNEL, 2021 - 2034 ($BN, UNITS)
9.1 Key trends
9.2 OEM
9.3 Aftermarket
CHAPTER 10 MARKET ESTIMATES & FORECAST, BY REGION, 2021 - 2034 ($BN, UNITS)
10.1 Key trends
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 Russia
10.3.7 Nordics
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 Australia
10.4.5 South Korea
10.4.6 Southeast Asia
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.5.3 Argentina
10.6 MEA
10.6.1 UAE
10.6.2 South Africa
10.6.3 Saudi Arabia
CHAPTER 11 COMPANY PROFILES
11.1 American Axle & Manufacturing
11.2 Benteler
11.3 Bharat Forge
11.4 Bosch
11.5 Continental
11.6 Dana Incorporated
11.7 GKN Automotive
11.8 Hitachi Astemo
11.9 Hyundai Mobis
11.10 KYB Corporation
11.11 Linamar
11.12 Magna International
11.13 Mando Corporation
11.14 MAT Foundry
11.15 Nexteer Automotive
11.16 SMW Automotive
11.17 Superior Industries
11.18 Teksid
11.19 Thyssenkrupp
11.20 ZF Friedrichshafen
