Press release
Global Automotive Idler Arm Market to Reach $5.8 Billion by 2029, Growing at 4% CAGR
Automotive Idler Arm Market
The automotive idler arm market looks set for expansion fueled by the increasing demand for lightweight and heavy vehicles. Vehicular categories consist of diverse motorized transportation methods, which are classified based on uses, size, and load-bearing capacities. These categories pave the way for precise regulations, infrastructure, and usage considerations concerning transportation and mobility. The crucial role of automotive idler arms in ensuring proper steering alignment and stability in both lightweight and heavy vehicles is paramount, contributing to handling ease, ride comfort, and the endurance of complex operations. According to a report by the Federal Reserve Bank of St. Louis in July 2023, sales of lightweight vehicles surged from 12.57 million units in May 2022 to 15.73 million units in July 2023. This surge in lightweight and heavy vehicle demand is likely to propel the automotive idler arm market. The automotive idler arm market is also anticipated to receive a boost due to increased attention to ride safety. Ensuring a smooth and safe ride for passengers has become critical in the automotive industry, leading to the development of innovative technologies like the automotive idler arm. By offering proper alignment, stability, and control, idler arms contribute to safer and smoother driving experiences. This is corroborated by a survey conducted by Partners for Automated Vehicle Education (PAVE) and AEye Inc. in November 2022, where 40% out of 1,095 surveyed adults identified improved safety on roads as a primary transportation issue and 58% prioritized pedestrian safety. The survey also revealed that 78% of participants believe that technology plays an essential part in resolving safety issues. This focus on ride safety is hence likely to aid the growth of the automotive idler arm market.
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What is the projected compound annual growth rate (CAGR) of the automotive idler arm market from 2025 to 2034, and what factors influence it?
In recent times, there's been a steady expansion in the size of the automotive idler arm market. This market is projected to increase from a value of $4.8 billion in 2024 to approximately $4.95 billion in 2025, indicating a compound annual growth rate (CAGR) of 3.2%. Factors contributing to this growth during the historical period include a rise in automotive manufacturing, stringent safety regulations, higher commercial vehicle fleet numbers, and an increasing consumer preference for comfort.
In the coming years, the market size for automotive idler arms is anticipated to experience consistent growth, reaching a value of $5.8 billion in 2029 with a compound annual growth rate (CAGR) of 4.0%. The projected growth during the forecast period can be ascribed to a focus on the use of lightweight materials, the uptake of electric and hybrid vehicles, global regulatory initiatives, advancements in autonomous vehicles, urbanization, and the emphasis on last-mile delivery. The forecast period is also expected to witness key trends such as the assimilation of smart technologies, customization catering to autonomous vehicles, integration with sophisticated suspension systems, strategic alliances in the automotive production realm, and creative technological breakthroughs in automotive design.
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What are the major segments of the automotive idler arm market and their role in driving growth?
The automotive idler arm market covered in this report is segmented -
1) By Type: Alloy Steel, Iron, Carbon Steel, Stainless Steel, Aluminum
2) By Product Type: Standard, Adjustable, Performance
3) By Vehicle Type: Conventional, Electric, Hybrid
4) By Sales Channel: Original Equipment Manufacturer (OEM), After market
5) By Application: Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles
Subsegments:
1) By Alloy Steel: High-Strength Alloy Steel, Low-Alloy Steel
2) By Iron: Cast Iron Idler Arms, Ductile Iron Idler Arms
3) By Carbon Steel: Mild Carbon Steel, High Carbon Steel
4) By Stainless Steel: Austenitic Stainless Steel, Ferritic Stainless Steel
5) By Aluminum: Cast Aluminum, Extruded Aluminum
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Which regions are key players in the growth of the automotive idler arm market?
North America was the largest region in the automotive idler arm market in 2024. The regions covered in the automotive idler arm market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the automotive idler arm market?
Major companies operating in the automotive idler arm market report are Denso Corporation, Continental AG, Lear Corporation, Tenneco Inc., BorgWarner Inc., Federal-Mogul Motorparts LLC, Dorman Products Inc., GMB Corporation Japan, Auto Parts International Inc., Skyward Automotive, Mevotech LP, Sankei Industries Co. Ltd., ZF LEMFORDER Corp., Detroit Axle, Emerson Forge Pvt. Ltd., Ferdinand Bilstein GmbH + Co.KG, Changzhou JLD Auto Parts Co. Ltd., Rare Parts Inc., ACDelco, Ningbo Motor Industrial Co. Ltd., Guangzhou Lingyue Auto Parts Co. Ltd., TRQ Auto Parts, High Link Auto Parts Co. Ltd., Datta Industries Pvt. Ltd., Chase Steering Parts Co., Taizhou Dongna Mechanical & Electrical Co Ltd.
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What Is Covered In The Automotive Idler Arm Global Market Report?
• Market Size Forecast: Examine the automotive idler arm market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the automotive idler arm market for a structured understanding.
• Key Players Overview: Analyze major players in the automotive idler arm market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive idler arm market.
• Segment Contributions: Evaluate how different segments drive overall growth in the automotive idler arm market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive idler arm market.
• Industry Challenges: Identify potential risks and obstacles affecting the automotive idler arm market.
• Competitive Landscape: Review strategic developments in the automotive idler arm market, including expansions, agreements, and new product launches.
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