Global Steering Snap Ring Market Insights, Size, and Forecast By End Use (Passenger Vehicles, Commercial Vehicles, Two-Wheelers), By Product Type (External Snap Rings, Internal Snap Rings, Single Turn Snap Rings, Multiple Turn Snap Rings), By Material Type (Steel, Aluminum, Plastic, Composite), By Application (Automotive Steering Systems, Industrial Machinery, Aerospace Systems, Consumer Electronics), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Key Companies, Competitive Analysis, Trends, and Projections for 2026-2035
Key Market Insights
Global Steering Snap Ring Market is projected to grow from USD 1.84 Billion in 2025 to USD 2.91 Billion by 2035, reflecting a compound annual growth rate of 5.4% from 2026 through 2035. The steering snap ring market encompasses the manufacturing and distribution of specialized fasteners essential for securing components within automotive steering systems. These rings play a critical role in ensuring the proper functioning and safety of steering mechanisms by preventing axial movement of bearings, gears, and other parts. The market is primarily driven by the consistent demand from the global automotive industry, fueled by increasing vehicle production, particularly in emerging economies. Advancements in automotive technology, including the proliferation of electric vehicles and autonomous driving systems, also contribute to market growth as these new platforms often require sophisticated and robust steering components. However, market growth faces restraints such as the fluctuating prices of raw materials, stringent quality control standards, and the intense competition among manufacturers. Opportunities exist in the development of lightweight and high-strength materials for snap rings, catering to the industry's push for vehicle weight reduction and improved fuel efficiency. Further opportunities arise from the increasing aftermarket demand for replacement parts, driven by the aging global vehicle fleet.
Global Steering Snap Ring Market Value (USD Billion) Analysis, 2025-2035
2025 - 2035
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The market is segmented by material type, product type, application, and end use, offering a comprehensive view of its diverse landscape. Steel remains the dominant material type, holding a significant majority share due to its proven strength, durability, and cost-effectiveness. This preference for steel underscores its reliability in demanding automotive applications. Geographically, Asia Pacific stands out as the dominant region, commanding the largest share of the global market. This dominance is attributed to the region's robust automotive manufacturing base, particularly in countries with high production volumes for both passenger and commercial vehicles, coupled with growing disposable incomes leading to increased vehicle ownership. The region is also projected to be the fastest-growing market, driven by continued industrialization, urbanization, and a burgeoning middle class across several Asian economies, fostering strong demand for new vehicles and consequently, steering snap rings.
Key players in the Global Steering Snap Ring Market include Dunlop Aerospace, NSK Ltd., Timken Company, Schaeffler Group, Trelleborg AB, Mitsubishi Materials Corporation, SKF Group, Koyo Bearings, NTN Corporation, and JTEKT Corporation. These companies employ various strategic initiatives to maintain and expand their market presence. Common strategies include significant investments in research and development to innovate new material compositions and design methodologies, enhancing product performance and durability. Strategic mergers and acquisitions are also prevalent, allowing companies to consolidate market share, expand product portfolios, and gain access to new technologies or geographical markets. Furthermore, a strong emphasis is placed on establishing robust distribution networks and forging long-term partnerships with major automotive OEMs to secure consistent demand and integrate into the automotive supply chain. Focusing on cost optimization through efficient manufacturing processes and supply chain management is another critical strategy to remain competitive in this price-sensitive market.
Quick Stats
Market Size (2025):
USD 1.84 BillionProjected Market Size (2035):
USD 2.91 BillionLeading Segment:
Steel (68.4% Share)Dominant Region (2025):
Asia Pacific (43.8% Share)CAGR (2026-2035):
5.4%
What is Steering Snap Ring?
A steering snap ring is a crucial small fastener in a vehicle's steering system. It is a C-shaped or circular open ring designed to fit into a groove on a shaft or in a bore. Its primary function is to prevent axial movement of components like bearings, gears, or shafts, effectively holding them in place. In steering mechanisms, snap rings secure various parts within the steering column or rack and pinion assembly, ensuring proper alignment and function. They are vital for maintaining the integrity and reliability of the steering system, preventing parts from dislodging due to vibration or movement and ensuring precise control of the vehicle.
What are the Trends in Global Steering Snap Ring Market
Electric Vehicle Integration Imperative
Lightweighting Materials Advancements
Automated Manufacturing Precision
Supply Chain Regionalization Focus
Recycled Material Adoption Surge
Electric Vehicle Integration Imperative
The electric vehicle integration imperative profoundly reshapes the global steering snap ring market. As automakers pivot towards electrification, they demand innovative snap ring solutions tailored for sophisticated steer by wire systems and quieter electric power steering units. This shift necessitates higher performance materials and tighter dimensional tolerances to ensure durability and minimize noise, vibration, and harshness in electric vehicle environments. Suppliers must adapt their manufacturing processes and material science capabilities to meet these evolving engineering specifications. Furthermore, the imperative drives demand for lighter weight components to offset battery weight, pushing the development of advanced alloys and compact designs. It’s a complete reevaluation of snap ring requirements, moving beyond traditional internal combustion engine applications towards the precise, high reliability demands of electric propulsion and autonomous driving systems. This trend underscores a critical need for suppliers to evolve their product portfolios and technical expertise.
Lightweighting Materials Advancements
Lightweighting materials advancements significantly influence the global steering snap ring market. Manufacturers are increasingly seeking solutions to reduce overall vehicle weight, directly impacting component selection. New lightweight alloys and high strength composites are being developed for various automotive applications, including steering systems. For snap rings, this means a demand for materials that offer equivalent or superior performance to traditional steel, but at a reduced weight. These advanced materials provide crucial benefits like enhanced fuel efficiency and lower emissions, aligning with stringent environmental regulations and consumer preferences. Consequently, snap ring producers are investing in research and development to innovate their products, ensuring compatibility with these new lightweight steering column assemblies. This trend is driving innovation in material science and manufacturing processes within the snap ring sector.
What are the Key Drivers Shaping the Global Steering Snap Ring Market
Rising Demand for Automotive Safety and Performance Enhancements
Growth in Global Vehicle Production and Sales
Technological Advancements in Steering Systems
Increasing Adoption of Electric and Autonomous Vehicles
Stringent Regulatory Standards for Vehicle Safety
Rising Demand for Automotive Safety and Performance Enhancements
The increasing consumer focus on vehicle safety and performance significantly boosts the global steering snap ring market. As drivers prioritize advanced safety features like improved steering response and stability, demand for high-quality, reliable snap rings within steering systems escalates. These critical components ensure the secure assembly and precise operation of various steering mechanisms, from traditional hydraulic power steering to modern electric power steering systems. Furthermore, the desire for enhanced driving dynamics, including better handling and responsiveness, necessitates robust and durable steering components. Automotive manufacturers are integrating more sophisticated steering technologies, all of which rely on precision engineered snap rings for optimal function and long term durability, directly fueling market growth.
Growth in Global Vehicle Production and Sales
The global vehicle production and sales represent a primary driver for the steering snap ring market. As more cars, trucks, and other vehicles are manufactured and sold worldwide, there is a direct increase in demand for the intricate components within their steering systems. Each vehicle requires multiple snap rings to secure various parts of the steering mechanism, ensuring safe and precise control. This growth is fueled by rising disposable incomes in emerging economies and the continuous development of new automotive models. The expanding global car parc translates directly into a larger installed base requiring replacement parts over time, further sustaining market expansion. Consequently, the prosperity of the automotive industry is intrinsically linked to the demand for these essential retaining rings.
Technological Advancements in Steering Systems
Technological advancements in steering systems are significantly propelling the global steering snap ring market. Modern vehicles increasingly incorporate advanced power steering, electric power steering EPS, and steer by wire systems. These sophisticated steering technologies demand higher precision and reliability from all their components, including snap rings. As steering systems evolve to offer better control, enhanced safety features, and autonomous driving capabilities, the design and manufacturing of snap rings must keep pace. Manufacturers are developing specialized snap rings capable of withstanding increased stresses, vibrations, and temperature variations inherent in these advanced systems, ensuring secure retention and optimal performance. This continuous innovation in steering directly fuels the demand for high-quality, technically advanced steering snap rings.
Global Steering Snap Ring Market Restraints
Supply Chain Disruptions from Geopolitical Tensions and Resource Scarcity
Global steering snap ring manufacturers face significant challenges from supply chain disruptions. Geopolitical tensions, such as trade disputes and regional conflicts, interrupt the flow of essential raw materials like specialized steel alloys and critical components. This instability leads to increased lead times for acquiring materials, creating production bottlenecks and delaying product delivery to original equipment manufacturers and aftermarket suppliers.
Furthermore, resource scarcity exacerbates the problem. Limited availability of key metals and rare earth elements, driven by increased global demand and restricted mining operations, translates into higher material costs and reduced manufacturing efficiency. These combined factors force manufacturers to absorb higher expenses or pass them on, impacting profitability and potentially hindering market growth. The uncertainty around material access and cost makes long-term planning difficult for market participants.
Intensified Competition from Local Manufacturers in Emerging Economies
Global steering snap ring manufacturers face a significant challenge from local competitors in emerging economies. These indigenous manufacturers often benefit from lower labor costs, fewer regulatory hurdles, and strong government support, enabling them to offer snap rings at more competitive prices. They possess an inherent understanding of local market dynamics, distribution networks, and customer preferences, allowing them to tailor products and services effectively. This localized advantage intensifies the competitive landscape for global players, who must contend with these agile and cost-efficient rivals. The pressure to reduce prices while maintaining quality standards becomes immense, potentially eroding profit margins and market share for international companies striving to penetrate or expand within these rapidly developing regions.
Global Steering Snap Ring Market Opportunities
High-Precision Snap Rings for Electric & Autonomous Steering Systems
The global shift towards electric and autonomous vehicles presents a significant opportunity for high-precision snap rings in steering systems. These advanced steering technologies demand components of exceptional quality and reliability due to their safety critical nature and complex operational requirements. Traditional snap rings may not meet the stringent performance and durability standards required for autonomous driving, where even microscopic play or potential failure can have severe consequences. High-precision snap rings offer superior dimensional accuracy, material integrity, and fatigue resistance, ensuring optimal functionality and longevity within these sophisticated systems. As automotive manufacturers integrate more electric power steering and steer by wire technologies, the need for components that guarantee precision, reduce vibration, and enhance overall system safety will intensify. This specialized demand, particularly strong in rapidly expanding markets like Asia Pacific, creates a lucrative niche for suppliers capable of manufacturing snap rings with exacting tolerances and robust performance characteristics essential for the next generation of vehicle control.
Advanced Material & Lightweight Snap Rings for Enhanced Steering Durability
The opportunity involves engineering advanced material and lightweight snap rings to significantly enhance steering system durability. Leveraging high strength alloys, composites, or specialized coatings, these next generation snap rings offer superior fatigue resistance, corrosion protection, and resilience under demanding operational conditions. This directly translates to enhanced steering reliability and a longer lifespan for critical components, reducing maintenance costs and improving overall vehicle safety and performance.
The lightweight aspect contributes to better fuel efficiency, lower emissions, and improved vehicle dynamics, aligning with global automotive trends towards sustainability and performance optimization. For manufacturers, these innovations provide a competitive edge, enabling them to meet stringent regulatory requirements and consumer demands for more robust and efficient vehicles. The global steering snap ring market, particularly in high growth regions like Asia Pacific, presents a substantial demand for such innovative components from OEMs seeking solutions offering both enhanced durability and weight reduction.
Global Steering Snap Ring Market Segmentation Analysis
Key Market Segments
By Material Type
- •Steel
- •Aluminum
- •Plastic
- •Composite
By Product Type
- •External Snap Rings
- •Internal Snap Rings
- •Single Turn Snap Rings
- •Multiple Turn Snap Rings
By Application
- •Automotive Steering Systems
- •Industrial Machinery
- •Aerospace Systems
- •Consumer Electronics
By End Use
- •Passenger Vehicles
- •Commercial Vehicles
- •Two-Wheelers
Segment Share By Material Type
Share, By Material Type, 2025 (%)
- Steel
- Aluminum
- Plastic
- Composite
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Why does Steel overwhelmingly lead the Global Steering Snap Ring Market by material type?
Steel accounts for a substantial majority of the market due to its unparalleled strength, durability, and cost effectiveness. Its robust mechanical properties ensure reliable performance under high stress and vibration inherent in automotive steering systems, providing critical safety and longevity for these components. Aluminum, Plastic, and Composite materials currently hold smaller shares as they may not consistently match steel's overall performance profile for this specific application.
How do application and end use segments influence the Global Steering Snap Ring Market?
The Automotive Steering Systems application segment is a primary driver, directly impacting demand across end use categories like Passenger Vehicles, Commercial Vehicles, and Two Wheelers. The stringent requirements for reliability and safety in these vehicle types necessitate high performance snap rings, dictating material choices and product types. While Industrial Machinery and Aerospace Systems also use snap rings, automotive demand significantly shapes market dynamics and innovation.
Which product types are most critical within the automotive application of steering snap rings?
External Snap Rings and Internal Snap Rings are fundamental to automotive steering systems, securing components within shafts and bores. These product types are crucial for maintaining precise alignment and preventing displacement of parts, ensuring smooth and safe steering operation. While Single Turn and Multiple Turn Snap Rings also have their specific uses, the core function of securing rotating or moving parts within the steering column often relies on the fundamental external and internal designs.
What Regulatory and Policy Factors Shape the Global Steering Snap Ring Market
The global steering snap ring market navigates a complex regulatory landscape primarily driven by stringent automotive safety and quality standards. Regulations from bodies like the United Nations Economic Commission for Europe UNECE and national authorities such as the US National Highway Traffic Safety Administration NHTSA dictate performance and reliability for steering systems impacting component design and manufacturing. Material compliance is crucial with global mandates addressing hazardous substances. For instance the European Union’s REACH regulation and similar directives in Asia and North America influence permissible chemical compositions in metals and coatings used for snap rings requiring robust supply chain declarations. Quality management systems like IATF 16949 are de facto industry standards ensuring supplier adherence to rigorous manufacturing processes and traceability. Furthermore regional trade policies tariffs and environmental regulations governing manufacturing waste and energy consumption collectively shape market entry and operational strategies for snap ring producers and their automotive clients worldwide.
What New Technologies are Shaping Global Steering Snap Ring Market?
Innovations in the global steering snap ring market are primarily fueled by material advancements and manufacturing process evolution. Emerging technologies focus on high strength to weight ratio alloys, improving vehicle efficiency and performance, particularly for electric and hybrid platforms. Advanced stainless steels and specialized coatings enhance corrosion resistance and extend component lifespan, crucial for demanding automotive environments. Precision stamping techniques and automated assembly lines are becoming standard, ensuring tighter tolerances and consistent quality while reducing production costs. The integration of artificial intelligence in quality control further refines manufacturing accuracy. With the rise of electric power steering systems and autonomous driving, snap rings are designed for enhanced vibration dampening and superior durability, accommodating new operational stresses. Miniaturization and optimized designs reduce material usage without compromising structural integrity. These developments address escalating demands for reliability, safety, and sustainable manufacturing practices within modern automotive steering systems.
Global Steering Snap Ring Market Regional Analysis
Global Steering Snap Ring Market
Trends, by Region
Asia-Pacific Market
Revenue Share, 2025
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Dominant Region
Asia Pacific · 43.8% share
Asia Pacific dominates the global steering snap ring market, commanding a significant 43.8% market share. This strong regional presence is primarily fueled by the robust automotive manufacturing industries across countries like China, India, Japan, and South Korea. These nations are major producers of vehicles, driving consistent demand for steering components, including snap rings. The expanding middle class and rising disposable incomes in several Asia Pacific economies further contribute to increased vehicle sales and production, sustaining the region's lead. Moreover, the presence of numerous global automotive OEMs and their extensive supply chains within the region solidifies its dominant position in the market. Localized production and competitive manufacturing costs also play a crucial role.
Fastest Growing Region
Asia Pacific · 7.9% CAGR
Asia Pacific is poised to be the fastest growing region in the global steering snap ring market, exhibiting a robust Compound Annual Growth Rate of 7.9% during the forecast period of 2026 to 2035. This significant growth is primarily driven by the region's expanding automotive manufacturing sector, particularly in emerging economies like China and India. Increased vehicle production, coupled with the rising demand for both passenger and commercial vehicles, fuels the need for steering snap rings. Furthermore, the burgeoning aftermarket for automotive components and the continuous development of advanced steering systems contribute to the region's prominent growth trajectory, solidifying its position as a key market player.
Top Countries Overview
The U.S. plays a significant role in the global steering snap ring market, driven by its robust automotive manufacturing sector and substantial aftermarket demand. American automotive OEMs and suppliers contribute to innovation and production, while a large vehicle parc sustains a strong aftermarket for replacement parts. Global manufacturers often view the U.S. as a key market for new product launches and expanded distribution, reflecting its economic influence and technological advancements in vehicle manufacturing.
China dominates global snap ring manufacturing due to competitive labor, robust infrastructure, and advanced production capabilities. Chinese companies are key suppliers for various international industries, including automotive, aerospace, and general machinery, capturing a substantial market share. Their strategic positioning and scalability significantly influence global pricing and supply chains, making them pivotal in steering the snap ring market's future trajectory and innovation.
India is a significant consumer and growing manufacturer in the global steering snap ring market, driven by its expanding automotive sector and increasing domestic vehicle production. The country serves as both a demand hub and an emerging supply base, attracting foreign investment and fostering local production capabilities to cater to both internal needs and potential export opportunities, influencing global market dynamics.
Impact of Geopolitical and Macroeconomic Factors
Geopolitical tensions, particularly in the Middle East and East Asia, significantly impact the global steel and alloys supply chain crucial for snap ring production. Trade wars and protectionist policies, like tariffs imposed by major economies, disrupt the free flow of raw materials and finished goods, leading to increased production costs and potential market fragmentation. Furthermore, political instability in resource rich nations can trigger supply shocks and price volatility for key materials like nickel and chromium, directly affecting snap ring manufacturers' profitability and pricing strategies. Regulatory shifts towards sustainability and conflict free minerals also add new layers of compliance and cost.
Macroeconomic conditions, including global GDP growth and interest rate fluctuations, profoundly influence automotive production and industrial machinery output, the primary end use sectors for steering snap rings. Recessions or economic slowdowns directly curb demand for new vehicles and machinery, impacting snap ring sales volumes. Inflationary pressures drive up manufacturing costs for energy, labor, and transportation, squeezing profit margins for snap ring producers. Currency exchange rate volatility can also affect the competitiveness of exporters and importers, influencing regional market shares. Investment in infrastructure projects and industrial upgrades, often linked to economic health, further dictates market expansion or contraction.
Recent Developments
- March 2025
Schaeffler Group announced a strategic initiative to invest heavily in advanced material research for steering snap rings. This aims to develop lighter, more durable, and corrosion-resistant materials to meet the evolving demands of electric vehicles and autonomous driving systems.
- January 2025
NTN Corporation launched its 'Eco-Snap' series of steering snap rings, featuring a new manufacturing process that significantly reduces material waste and energy consumption. This product launch directly addresses the growing demand for sustainable and environmentally friendly automotive components within the global market.
- December 2024
Koyo Bearings (JTEKT Corporation) and Trelleborg AB formed a strategic partnership to co-develop integrated steering assembly solutions. This collaboration will focus on optimizing the interface between snap rings, bearings, and sealing elements to improve overall steering performance and longevity.
- September 2024
SKF Group completed the acquisition of a specialized precision engineering firm focused on micro-manufacturing techniques for intricate metal components. This acquisition will enhance SKF's capabilities in producing high-tolerance steering snap rings for compact and high-performance steering systems.
- July 2024
Dunlop Aerospace unveiled a new generation of high-strength alloy steering snap rings specifically designed for heavy-duty commercial vehicles and off-road applications. These new products offer enhanced fatigue resistance and operational reliability under extreme stress conditions, expanding their market reach beyond traditional automotive.
Key Players Analysis
Key players like Schaeffler Group and SKF Group are vital in the Global Steering Snap Ring Market, providing precision engineered solutions for robust steering systems. Companies such as NSK Ltd. and NTN Corporation specialize in high quality bearings and seals, essential components of snap rings. Mitsubishi Materials Corporation and Timken Company contribute advanced materials and manufacturing expertise, enhancing product durability and performance. Their strategic initiatives often focus on lightweighting, enhanced corrosion resistance, and incorporating smart materials, driving market growth through improved safety, fuel efficiency, and extended product lifecycles in the automotive and aerospace industries.
List of Key Companies:
- Dunlop Aerospace
- NSK Ltd.
- Timken Company
- Schaeffler Group
- Trelleborg AB
- Mitsubishi Materials Corporation
- SKF Group
- Koyo Bearings
- NTN Corporation
- JTEKT Corporation
- FederalMogul Corporation
- Miba AG
Report Scope and Segmentation
| Report Component | Description |
|---|---|
| Market Size (2025) | USD 1.84 Billion |
| Forecast Value (2035) | USD 2.91 Billion |
| CAGR (2026-2035) | 5.4% |
| Base Year | 2025 |
| Historical Period | 2020-2025 |
| Forecast Period | 2026-2035 |
| Segments Covered |
|
| Regional Analysis |
|
Table of Contents:
List of Figures
List of Tables
Table 1: Global Steering Snap Ring Market Revenue (USD billion) Forecast, by Material Type, 2020-2035
Table 2: Global Steering Snap Ring Market Revenue (USD billion) Forecast, by Product Type, 2020-2035
Table 3: Global Steering Snap Ring Market Revenue (USD billion) Forecast, by Application, 2020-2035
Table 4: Global Steering Snap Ring Market Revenue (USD billion) Forecast, by End Use, 2020-2035
Table 5: Global Steering Snap Ring Market Revenue (USD billion) Forecast, by Region, 2020-2035
Table 6: North America Steering Snap Ring Market Revenue (USD billion) Forecast, by Material Type, 2020-2035
Table 7: North America Steering Snap Ring Market Revenue (USD billion) Forecast, by Product Type, 2020-2035
Table 8: North America Steering Snap Ring Market Revenue (USD billion) Forecast, by Application, 2020-2035
Table 9: North America Steering Snap Ring Market Revenue (USD billion) Forecast, by End Use, 2020-2035
Table 10: North America Steering Snap Ring Market Revenue (USD billion) Forecast, by Country, 2020-2035
Table 11: Europe Steering Snap Ring Market Revenue (USD billion) Forecast, by Material Type, 2020-2035
Table 12: Europe Steering Snap Ring Market Revenue (USD billion) Forecast, by Product Type, 2020-2035
Table 13: Europe Steering Snap Ring Market Revenue (USD billion) Forecast, by Application, 2020-2035
Table 14: Europe Steering Snap Ring Market Revenue (USD billion) Forecast, by End Use, 2020-2035
Table 15: Europe Steering Snap Ring Market Revenue (USD billion) Forecast, by Country/ Sub-region, 2020-2035
Table 16: Asia Pacific Steering Snap Ring Market Revenue (USD billion) Forecast, by Material Type, 2020-2035
Table 17: Asia Pacific Steering Snap Ring Market Revenue (USD billion) Forecast, by Product Type, 2020-2035
Table 18: Asia Pacific Steering Snap Ring Market Revenue (USD billion) Forecast, by Application, 2020-2035
Table 19: Asia Pacific Steering Snap Ring Market Revenue (USD billion) Forecast, by End Use, 2020-2035
Table 20: Asia Pacific Steering Snap Ring Market Revenue (USD billion) Forecast, by Country/ Sub-region, 2020-2035
Table 21: Latin America Steering Snap Ring Market Revenue (USD billion) Forecast, by Material Type, 2020-2035
Table 22: Latin America Steering Snap Ring Market Revenue (USD billion) Forecast, by Product Type, 2020-2035
Table 23: Latin America Steering Snap Ring Market Revenue (USD billion) Forecast, by Application, 2020-2035
Table 24: Latin America Steering Snap Ring Market Revenue (USD billion) Forecast, by End Use, 2020-2035
Table 25: Latin America Steering Snap Ring Market Revenue (USD billion) Forecast, by Country/ Sub-region, 2020-2035
Table 26: Middle East & Africa Steering Snap Ring Market Revenue (USD billion) Forecast, by Material Type, 2020-2035
Table 27: Middle East & Africa Steering Snap Ring Market Revenue (USD billion) Forecast, by Product Type, 2020-2035
Table 28: Middle East & Africa Steering Snap Ring Market Revenue (USD billion) Forecast, by Application, 2020-2035
Table 29: Middle East & Africa Steering Snap Ring Market Revenue (USD billion) Forecast, by End Use, 2020-2035
Table 30: Middle East & Africa Steering Snap Ring Market Revenue (USD billion) Forecast, by Country/ Sub-region, 2020-2035