Automotive tie rods are the integral part of vehicle steering mechanism. Automotive tie rod is a slender structural bar which has two ends outer end and inner end. Automotive tie rods connect steering knuckles on which to the either end of steering rack which enables the wheel to turn easily. The automotive tie rods have two sections threaded together in order to adjust the length and this adjustment help to maintain the alignment angle of the vehicles. The outer end of the tie rods are most liable to wear & failure. Automotive tie rods end are utilized to direct the steering of the vehicle and help the wheel to turn. Generally, automotive tie rods are available in pairs which help the cornering and angling of the tire without generating too much torque on the wheel and reducing the chances of wheel misalignment and failure. Historically, automotive tie rod ends required regular lubrication however, now a days, most of the modern vehicles are now maintenance free which also increases the sales of low lubrication require automotive tie rods
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As automotive tie rods is a parts of steering mechanism which plays crucial role for turning of vehicle. Therefore, significant growth in automotive vehicle production is expected to fillip the sales of automotive tie rods. Moreover, increasing spending power of middle class population are giving exquisite push to the sales of passenger cars which is expected to shape up the global sales of automotive Tie Rods Market over the coming decades. Moreover, growing logistic and e-commerce industries across the globe is expected to increase the sales of commercial vehicles which is anticipated to accelerate the growth of automotive tie rod market over the stipulated time period.
Due to increasing environmental safety concern, the demand for electric vehicles is increasing and also the government of several countries promote electro mobility, which adversely effect on the new sale of IC engine vehicles. Thus, rising demand for electric vehicles is anticipated to restrain the automotive Tie rods market over the forecast period.
Automotive Tie Rod Market: Regional Outlook
North America automotive tie rods market is estimated to account significant share in the global market due to increasing demand and production of commercial vehicles. The North America automotive tie rods market is driven by the U.S. Europe is projected to register healthy growth in the automotive tie rods market, due to presence of numerous automaker across the region, throughout the forecast period.
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Furthermore, lucrative growth of automotive industry in emerging countries of Asia Pacific such as India, China, ASEAN are estimated to hold prominent share in the global tie rod market. Along with this factor, the increasing disposable income of middle class population also increases the demand for passenger cars which in turn positively impact on the growth of automotive tie rods market. Emerging economies of Latin America and Middle East & Africa are also expected to increase the demand for vehicles due to growing urbanization and improving economic conditions. These factor are expected to boost the growth of the automotive tie rods market.
Automotive Tie Rods Market: Market Participants
Examples of some of the market participants identified across the value chain of the global Automotive Tie Rods Market includes ACDelco, Crown Automotive, Ditas, FAI Automotive Plc, Federal-Mogul, KDK Forging, Mando Corporation, MAS Industries, Mevotech, Sankei, TRW Automotive
The Automotive Tie Rods market research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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Automotive Tie Rods Market Expected to Experience Bolstering Sales during Forecast Period 2019 2029
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