Automotive Steering Knuckle Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031

The Global Automotive Steering Knuckle Market is projected to expand from USD 3.31 billion in 2025 to USD 4.96 billion by 2031, achieving a CAGR of 6.97%. Functioning as a vital suspension element, the steering knuckle serves as the pivot point linking the steering mechanism and suspension to the wheel hub, facilitating controlled wheel motion. Market progress is fueled by increasing global vehicle production and a strategic transition toward lightweight materials to boost fuel economy and support electric vehicle designs. According to the International Organization of Motor Vehicle Manufacturers (OICA), global motor vehicle production hit 92.5 million units in 2024, a volume that directly drives demand since every four-wheeled vehicle necessitates these structural parts for safe operation.

Despite this growth trajectory, market expansion faces a significant hurdle due to volatile raw material prices, specifically for steel and aluminum. The unstable costs of these critical metals can interrupt supply chains and squeeze manufacturer profit margins, making it challenging to sustain consistent pricing strategies within a competitive international environment.

Market Drivers

The push to adopt lightweight materials to improve fuel efficiency and extend vehicle range is a major catalyst for the Global Automotive Steering Knuckle Market. Facing strict emissions regulations, automakers are moving away from heavy cast iron toward lighter options like aluminum and magnesium alloys, a shift that lowers unsprung mass to enhance handling and energy efficiency while prompting suppliers to upgrade casting technologies. This trend is evidenced by the Aluminum Association's April 2025 'Aluminum Situation' report, which noted a 3.4% rebound in North American aluminum demand in 2024, highlighting the material's growing importance in contemporary automotive architectures.

Simultaneously, the rise of electric vehicle (EV) production is altering the technical specifications for suspension systems. Because EVs carry heavy battery packs that increase overall weight, steering knuckles must be engineered with greater tensile strength and optimized geometries to maintain safety without adding unnecessary bulk, driving rapid innovation among manufacturers. The European Automobile Manufacturers' Association (ACEA) reported in October 2025 that battery-electric vehicles secured a 16.4% share of new EU registrations, while lightweighting specialist Nemak reported US$4.9 billion in 2024 revenue in their January 2025 annual report, illustrating the immense market value associated with these structural components.

Market Challenges

The volatility of raw material prices, particularly for aluminum and steel, stands as a significant obstacle to the Global Automotive Steering Knuckle Market's progress. Because steering knuckles are dense structural parts requiring substantial amounts of metal for safety, fluctuating base metal costs make it difficult to implement stable pricing strategies. Manufacturers are frequently forced to absorb these cost increases to preserve contracts with original equipment manufacturers (OEMs) that demand fixed pricing, a dynamic that reduces profit margins and diverts funds from capacity expansion, thereby stalling the financial momentum needed for growth.

This instability is highlighted by recent industry data regarding the primary feedstocks for these components. In October 2024, the World Steel Association forecast a 0.9% decline in global steel demand to 1.75 billion tonnes for the year, a trend driven by high production costs and economic difficulties. Such fluctuations in the fundamental steel market create an unpredictable supply landscape for component producers; when elevated costs depress the raw material sector, supply chain fluidity is disrupted, hindering the financial stability steering knuckle manufacturers require to undertake significant expansion.

Market Trends

The adoption of additive manufacturing for creating complex geometries and prototyping is transforming the development stages of the Global Automotive Steering Knuckle Market. This technological evolution enables engineers to circumvent traditional tooling limitations, facilitating the production of knuckles with intricate internal lattices and organic forms that optimize weight distribution while maintaining structural rigidity. By supporting rapid prototyping, additive manufacturing drastically reduces lead times, allowing suppliers to validate designs and transition to mass production more quickly than conventional casting methods permit; highlighting this shift, 3Dnatives reported in January 2025 that General Motors completed over 5,400 additive manufacturing projects in 2024, demonstrating the technology's growing role in accelerating innovation.

At the same time, a move toward high-vacuum die casting and precision forging is redefining mass production for these safety-critical parts. To meet the demands of electric drivetrains which require knuckles with minimal porosity and superior fatigue strength, manufacturers are replacing standard gravity casting with high-pressure, vacuum-assisted techniques that yield denser, near-net-shape components. Although this transition involves significant capital investment, it improves long-term efficiency by minimizing material waste and machining needs; reflecting this commitment, Automotive Manufacturing Solutions reported in November 2025 that Toyota invested US$912 million across five U.S. plants to upgrade component casting and vehicle production, signaling a strong industry trend toward advanced casting infrastructure.

Key Players Profiled in the Automotive Steering Knuckle Market

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

Report Scope

In this report, the Global Automotive Steering Knuckle Market has been segmented into the following categories:

Automotive Steering Knuckle Market, by Vehicle Type:

• Passenger Cars
• Commercial Vehicles

Automotive Steering Knuckle Market, by Type:

• Alloy
• Cast Iron
• Others

Automotive Steering Knuckle Market, by Sales Channel Type:

• OEM
• Aftermarket

Automotive Steering Knuckle Market, by Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Automotive Steering Knuckle Market.

Available Customization

The analyst offers customization according to your specific needs. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

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