Automotive Tie Rod End Market Accelerates with Advancements in Suspension & Steering Systems

The automotive tie road end is a lean structural rod or bar which is used as a tie and is capable of carrying only ductile loads. It is considered to be an integral part of the steering mechanism in an automobile. The automotive tie rod is a slender structural bar that has two ends-outer and inner respectively. The automotive tie rods connect steering knuckles on which to either end of the steering rack that enables the wheel to turn easily. The automotive tie rods have two sections threaded together to adjust the length which helps to maintain the alignment angle of the vehicles. The outer end of the tie rods is considered to be the most liable for wear & failure while operating.

In addition, the automotive tie rods ends is utilized to direct the steering of the vehicle and help the wheel to turn. Moreover, the automotive tie rods are available in pairs as well, which help the angling and cornering of the tire without generating too much torque on the wheel and reducing the chances of wheel misalignment and failure. Moreover, the tie rods or tie bars are necessary for a vehicle to allow for accurate turning, enhance the handling of the vehicle, create banking in the tire and create deeper turning radii.

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COVID-19 scenario analysis:

For manufacturing industries, globally, the COVID-19 has resulted in a vast decline in revenue and profits.
China is considered to be at the forefront of global production and deployment of automation & robotics, they can control the epidemic and now shifting to focus towards a gradual recovery of production cycles and lifestyle.
Large automation manufacturing companies have slashed capital expenditures for 2020 to counter the collapse in consumer and material demand during the global lockdown.
The supply chain has been broken for a very long while now due to lockdown and the demand is completely vanished out of the market which will take a very long time to revive back again.
This pandemic is the time for manufacturing companies to take stock of their operations, from production through the supply chain, and think critically about how they may be better prepared in the future.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Some of the factors that boost the market growth include rise in logistic and e-commerce industries across the globe coupled with significant growth in automotive vehicle production. However, surge in demand for electric vehicles is anticipated to restrain the automotive tie rods market during the forecast period. Furthermore, the partnership between automotive original equipment manufacturer (OEM) and lighting system manufacturers are the factors expected to generate new opportunities in the market.

The automotive tie rod end market trends are as follows:

Growth of logistic and e-commerce industries across the globe

The demand for one-time delivery has been increasing mainly in the logistics industry, it has become a vital factor among the competitors. There have been several innovations in the e-commerce business for effective management of the transportation process that has helped the market to evolve. Thus, growing e-commerce industries across the globe are expected to increase the sales of commercial vehicles which is anticipated to accelerate the growth of the automotive tie rod market.

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Significant growth in automotive vehicle production

The number of vehicles on the road is increasing day by day as the population is growing at a high rate. This has led to an increase in production as well as the demand for vehicles as the number of customers has increased rapidly. In addition, owing to their high usage and importance, it is recommended to have the tie bars inspected at regular intervals. Hence, the potential expansion of the middle class could be a boom to future vehicle demand in the developing economies. This is expected to boost the market growth

Vehicle

Passenger Car
Light Commercial Vehicles
Heavy Commercial Vehicles

Product

Heavy-duty tie rod ends
Precision tie rod ends
Steering tie rod ends
Ball joints tie rod ends.

Distribution Channel

Online
Offline

Sales

Original Equipment Manufacturer (OEM)
After Market

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Key Market Players

MAS Industries,
KDK Forging,
FAI Automotive Plc,
ACDelco,
Mando Corporation,
Sankei,
Ditas,
Mevotech,
Crown Automotive,
Federal-Mogul

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