(MENAFN- EIN Presswire)
Steering Tie Rod Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Steering Tie Rod Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
You Can Now Pre Order Your Report To Get A Swift Deliver With All Your Needs
” - The Business Research Company
LANDON, GREATER LANDON, UNITED KINGDOM, September 9, 2024 /EINPresswire / -- The steering tie rod market has experienced robust growth in recent years, expanding from $14.67 billion in 2023 to $15.65 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to the implementation of safety regulations, growing urbanization and infrastructure development, expansion of automotive supply chains, consumer demand for comfort and handling, and environmental and efficiency standards.
What Is The Estimated Market Size Of The Global Steering Tie Rod Market And Its Annual Growth Rate?
The steering tie rod market is projected to continue its strong growth, reaching $27.01 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to advancements in electric and autonomous vehicles, technological innovations in materials and manufacturing, integration of Internet of Things (IoT) and artificial intelligence (AI) technologies in vehicles, regulatory emphasis on fuel efficiency and emission, focus on sustainability.
Explore Comprehensive Insights Into The Global Steering Tie Rod Market With A Detailed Sample Report:
Growth Driver Of The Steering Tie Rod Market
Increasing automotive production is expected to propel the growth of the steering tie rod market going forward. Automotive production refers to the process of manufacturing vehicles, including cars, trucks, and other automobiles, from raw materials to finished products ready for sale. The increasing automotive production is driven by growing global demand for vehicles, advancements in technology, and expanding markets. Steering tie rods are essential components used in automotive production to connect the steering rack to the steering knuckle, allowing for controlled steering of the vehicle.
Order Your Report Now For A Swift Delivery:
Which Market Players Are Steering The Steering Tie Rod Market Growth?
Key players in the steering tie rod market include The Bosch Group, ZF Friedrichshafen AG, Schaeffler Technologies AG & Co. KG, BorgWarner Inc., APA Industries Inc., NSK Ltd., HL Mando Corp, Moog Inc., Dorman Products, Ingalls Engineering Co., Teknorot Automotive Inc., Federal-Mogul Corporation, Mevotech, Centric Parts, Beck Arnley, CTR Corporation, ACDelco, First Line Ltd., Synergy Manufacturing Inc., Crown Automotive Sales Co. Inc., Ferdinand Bilstein, Optimal AG And Co. KG, TRW Automotive, Sankei Industry Co. Ltd.
What Are The Key Trends That Influence Steering Tie Rod Market Share And Analysis?
Major companies operating in the steering tie rod market are focused on developing innovative products, such as steering and suspension parts, to offer a variety of repairs and replacements. Steering and suspension parts are crucial components of a vehicle's chassis system that work together to ensure safe handling, ride comfort, and stability.
How Is The Global Steering Tie Rod Market Segmented?
1) By Position: Inner Tie Rods, Outer Tie Rods
2) By Material: Carbon Steel, Stainless Steel
3) By Vehicle Type: Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicle
4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Geographical Insights: North America Leading The Steering Tie Rod Market
North America was the largest region in the steering tie rod market in 2023. The regions covered in the steering tie rod market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Steering Tie Rod Market Definition
A steering tie rod is a critical component in a vehicle's steering system, connecting the steering rack to the steering knuckle on each front wheel. It transmits force from the steering rack to the wheel, allowing the vehicle to turn and maintain directional control. The proper functioning of tie rods is essential for vehicle stability and safe handling.
Steering Tie Rod Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global steering tie rod market report covering trends, opportunities, strategies, and more
The Steering Tie Rod Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on steering tie rod market size, steering tie rod market drivers and trends, steering tie rod market major players, steering tie rod competitors' revenues, steering tie rod market positioning, and steering tie rod market growth across geographies. The steering tie rod market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
Browse Through More Similar Reports By The Business Research Company:
Motor Vehicle Steering and Suspension Components Global Market Report 2024
Motor Vehicle Steering and Suspension Components (except Spring) Global Market Report 2024
Electric Power Steering Global Market Report 2024
What Does The Business Research Company Do?
The Business Research Company publishes over 15,000 reports across 27 industries and 60+ geographies. Our research is powered by 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. We provide continuous and custom research services, offering a range of specialized packages tailored to your needs, including Market Entry Research Package, Competitor Tracking Package, Supplier & Distributor Package, and much more.
Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Oliver Guirdham
The Business Research Company
+44 20 7193 0708
...
Visit us on social media:
Facebook
X
LinkedIn
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN09092024003118003196ID1108653104