Global Automotive Tie Rod Market size was valued at US$ XX Mn in 2019 and expected to reach US$ XX Mn by 2019 at a CAGR of 4.7% during the forecast period.

The Global Automotive Tie Rod market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The Global Automotive Tie Rod report also provides trends by market segments, technology, and investment with a competitive landscape.

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Global Automotive Tie Rod Market Overview:

Automotive Tie Rod is typically a rod that connects the steering rack to the steering arm of the vehicle. This combination of rack and pinion with steering knuckle is responsible for the movement of steering in the left or right direction. Inner tie rod and outer tie rod which is typically ball and socket type of joints used for transmitting force to steering knuckle and adjustment of the length of tie rod respectively. Tie rods basically provide a turning effect on wheels without providing too much torque on the wheels by enabling turning angles for wheels. The mechanical steering system is a bit more complex than the rack and pinion system. Hence, manufacturers are more attracted to tie rods production across the globe.

Tie rods find their applications in pitman arm systems as well as mechanical steering system with ball and socket type mechanisms. In the pitman arm system, the arm moves according to the motion of gears and like the rack and pinion system, tie rods are connected to the gearing mechanism which sets the motion of wheels. Tie rods are considered as the pivot point between the steering system and the wheel of the vehicle. Increasing need for length changeability of wheels according to the design of manufacturers and increasing demand for ease of handling of steering system as well as vehicle are the key factors considered to drive the market.
Global Automotive Tie Rod Market Dynamics:

Increasing demand for automotive across the globe and thereby increasing demand for the safety of the vehicle are the factors considered to drive the automotive tie rod market growth during the forecast period. Moreover, increasing application of tie rods in passenger cars is the key supporting factors considered to drive the market growth. Also, incorporation of tie rods in modern-day vehicles for longevity and stress carrying function of tie rods are the factors attributing growth in the automotive tie rod market.

Increasing research and development for high stress carrying and dynamic load-bearing tie rods are the new and innovative technological factor considered to create new opportunities in the market for prominent as well as new players in the market.

High wear and tear of tie rods after accidents, driving in adverse road conditions, or hitting a bump while driving can cause severe damage to tie rods and resulting in high damage to the wheels as well as the steering mechanism of the vehicle which is considered a key restraining factor hampering the automotive tie rod market growth. Furthermore, declining profit margins of light-duty automotive vehicles are the expected key challenge for the market growth.
Automotive Tie Rod Market segmentation:

Based on Tie rod product type, automotive tie rod market is segmented into precision tie rod ends, ball joints tie rod ends, heavy-duty tie rod ends, and steering tie rod ends. Steering tie rod ends is the dominating segment in the market with approximately 36% market share in the year 2019 owing to the high flexibility of steering tie rods and useful applications of steering tie rods in passenger as well as heavy-duty tie rods. According to ZF Friedrichshafen AG, steering tie rod ends are accounted for approximately 330 million USD in the year 2019 owing to increasing applications of the steering tie rod ends in passenger as well as heavy-duty vehicles. Ball joint ends are the second dominating segment in the market with approximately 32% market share in the year 2019 owing to the high precision of locking of steering arm and convertible length characteristic of ball joint for adverse road conditions.

Based on vehicle type, automotive tie rod market is segregated into passenger cars, light commercial vehicles, and heavy commercial vehicles. Passenger cars are the dominating segment in the market with approximately 45% market share owing to increasing demand for passenger cars in middle-class population and increasing production rate of passenger cars by manufacturers to cope with the demand for vehicles in the market. Light commercial vehicles are the fastest-growing segment in the market owing to increasing demand for transportation post-pandemic and increasing trend for vocational trucks in the market.

Based on the distribution channel, the automotive tie rod market is bifurcated online and offline. The offline segment is the dominating segment in the market owing to increasing joint ventures between prominent players in the market with distributers and retailers. Moreover, the increasing focus of manufacturers on local market penetration is the key factor considered to boost the market growth during the forecast period. Online is the second dominating segment in the market owing to increasing demand for E-commerce in pandemic situations and high penetration of smartphones and Internet among consumers. According to Indiamart, an E-commerce website, the online sector accounted for approximately 260 million USD in the year 2019-2020 in the APAC region owing to high demand and penetration of regional players in the market.

Global Automotive Tie Rod Market 1
Impact of Covid pandemic on the Automotive Tie Rod Market:

COVID pandemic is expected to pose a low to moderate impact on the Automotive Tie Rod Market owing to the effects of a pandemic on the research and manufacturing activities across the globe. Strict government norms and increasing cost of transportation owing to supply chain distortion and lowering of manufacturing activities are the factors considered to slightly declining the market growth of Automotive Tie Rod services. The market is expected to expand during the forecast period owing to increasing demand in the supply chain and various commercial activities pick up the speed.

According to MOOG AG, Automotive Tie Rod Market is decreased rapidly amid Covid pandemic owing to decreasing construction sector demands in the stringent lockdown conditions. Moreover, the company stated that market is expected to pose approximately 12% market growth post-pandemic owing to increasing manufacturing activities across the globe and rising supply and demand in the automotive sector.
Global Automotive Tie Rod Market Regional Insights:

The Asia Pacific holds the major share in the Automotive Tie Rod Market with approximately 52% of total market share in the year 2019 owing to increasing demand for innovation and product development in the market. Moreover, increasing disposable income of the consumers and the well-established manufacturing sector are the supporting factors considered to drive the market growth in the region. Moreover, increasing demand for tie rod assembly systems for passenger and commercial vehicles segment in the region is expected to boost the market growth during the forecast period. China, India, Japan, and others are the prominent players in the market owing to increasing government support and high domestic production rates in the respective countries. China is the dominating market in the region in terms of volume share as approximately 56% tie rod products and assembly parts are manufactured in the region followed by India and Japan.

Europe is the fastest-growing region in the Automotive Tie Rod Market with approximately 40% market share. Factors attributing growth in the market are an abundance of key manufacturers of Automotive Tie Rod in the region and the increasing no. of small-scale service providers in the region keeping the changing needs of consumers in mind. Germany holds the largest market share of approximately 47% owing to the increasing no. of key players in the region related to the automotive sector.

Global Automotive Tie Rod Market 2

The objective of the report is to present a comprehensive analysis of the Global Automotive Tie Rod Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global Automotive Tie Rod Market dynamics, structure by analyzing the market segments and project the Global Automotive Tie Rod Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence in the Global Automotive Tie Rod Market make the report investor’s guide
Global Automotive Tie Rod Market Scope:
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Global Automotive Tie Rod Market 3
Global Automotive Tie Rod Market, by Region

• North America
o US
o Canada
o Mexico
• Europe
o U.K
o France
o Germany
o Italy
o Spain
o Sweden
o CIS Countries
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o South Korea
o Australia
o ASEAN
o Rest of Asia Pacific
• Middle East and Africa
o South Africa
o GCC Countries
o Egypt
o Nigeria
o Rest of ME&A
• South America
o Brazil
o Argentina
o Rest of South America
Global Automotive Tie Rod Market Key Players

• ACDelco
• Mando Corporation
• Federal- Mogul
• KDK Forging
• MAS Industries
• Ditas
• Sankei
• MevoTech
• TRW Automotive
• FAI Automotive PLC
• Crown Automotive
• Elgin
• Terrill
• Union
• KAD
• Rare Parts
• Patmax Union Corporation
• SAMYUNG

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