Automotive Kingpin Market is estimated to expand at a CAGR of 4.4% from 2022 to 2032 - Persistence Market Research

The global automotive kingpin market is also growing at a strong pace due to increasing demand from expanding automotive companies. Leading players are looking to conquer new contracts for the installation of new products as well as the replacement of aging products, which is creating a highly competitive environment for market participants. The global automotive kingpin market is also growing at a strong pace due to increasing demand from expanding automotive companies. Leading players are...

The global automotive kingpin market is also growing at a strong pace due to increasing demand from expanding automotive companies. Leading players are looking to conquer new contracts for the installation of new products as well as the replacement of aging products, which is creating a highly competitive environment for market participants.

Partnering in projects or collaborating with each other to share different innovative solutions for the design and development of innovative automotive aftermarket parts is also being witnessed. Manufacturers partnering with automotive companies is a global trend in this market.

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Key Takeaways from Market Study

"Demand for logistics and transportation is increasing, which, in turn, is driving the replacement of kingpins in the aftermarket as their lifespan is very short when heavy load is applied," says a Persistence Market Research analyst.

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Competitive Landscape

The global automotive kingpin market is highly fragmented. Leading kingpin manufacturers hold near to one-fourth of the market share. Some of the key market players included in the report are Schaeffler Technologies Ag & Co. Kg, Dana Limited, Meritor Inc., JG Automotive, Ferdinand Bilstein GmbH Co. KG, STEMCO Products Inc., LEMA Srl., and others.

Defined goals such as high concentration on the increase of sales and distribution network, sourcing, expansion, and innovations in products by aftermarket players are expected to propel market expansion.

Conclusion

Automotive kingpins are widely used in light commercial vehicles, heavy commercial vehicles, and off-road vehicles, alike. Demand for kingpins is expected to be higher for use in light commercial vehicles. Increasing automotive production is expected to bolster demand for automotive kingpins over the coming years.

Increasing number of construction and e-Commerce activities has resulted in an increase in demand for material transportation, which, in turn, has resulted in increased sales of commercial vehicles worldwide. This is likely to drive demand for automotive kingpins due to the fact that vehicles running with heavy loads create pressure on the kingpin, which makes it necessary to replace the kingpin in a short time span.

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More Valuable Insights on Offer

Persistence Market Research, a research and consulting firm, has published a new market research report on the global automotive kingpin market that contains an industry analysis of 2017–2021 and an opportunity assessment for 2022–2032.

The report provides an in-depth analysis of the market through different segments, namely, product type, sales channel, vehicle type, and region. The report also provides supply and demand trends along with an overview of the parent market.

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