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Automotive Tie Rod Market Technological breakthroughs By 2024

News   •   Aug 24, 2017 13:42 EDT

Automotive Tie Rod Market is an integral part of the steering mechanism in an automobile. It is a lean structural rod or bar which is used as a tie and is capable of carrying only ductile loads. This tie rod comprises an inner end and an outer end. The rod transmits a force from the rack gear to the steering knuckle, which enables the wheel to turn. The outer end of the tie rod is connected to an adjusting sleeve that enables the length of the tie rod to be highly adjustable and this adjustment is then used to set the alignment angle of the vehicle. Therefore, tie bar ends help to direct the steering of a vehicle, thereby making it possible for the wheel to turn. Tie rods generally exist in pairs on each tire which enables the angling and cornering of the tire without producing too much of torque on the wheel, however deep the turn may be. Tie bars or tie rods are essential to the handling and steering of a vehicle. These rods are not prone to the regular wear and tear like other automotive parts. Instead these tie bar ends only get damaged when the vehicle drives up on curves and encounter road problems or hit potholes that exert their impact behind the tire and to these tie rods.

Automotive Tie Rod Market bars are necessary in a vehicle in order to allow for accurate turning, enhance the handling of the vehicle, create banking in the tire and create deeper turning radii. Tie bar ends are attached to the top and bottom of the tire to keep it secure, thereby allowing for ease of handling and fine changes in the direction. Most modern vehicles use a steering system named rack and pinion that incorporates tie rods in order to help turn the wheels. These rods are attached on both the ends of the steering rack and with the rolling of the pinion over the slotted rack, the tie rods assist in pushing and pulling the front tires when the steering wheel turns. Thus, tie rods provide an integral function to the steering of the vehicle and thus the overall safety of the car. Tie bars could last for long years, but their longevity could be affected by certain driving conditions. Adverse road conditions, minor accidents, and driving obstacles can cause the tie bars to function incorrectly. Therefore, owing to their high usage and importance, it is recommended to have the tie bars inspected at regular intervals.

The global automotive tie rod market can be segmented on the basis of types into heavy duty tie rod ends, precision tie rod ends, steering tie rod ends, and ball joints tie rod ends. In addition, the market can be geographically classified into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific is anticipated to emerge as the most lucrative and the fastest growing regional market for automotive tie rods from 2016-2024, owing to the presence of major emerging markets for automobiles such as Japan, China, South Korea, and India.

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The rapidly increasing vehicle production coupled with the upward progression of the automotive industry in these countries, owing to the steady support from governments is set to steadily steer the growth of the automotive tie rod market in Asia Pacific during the forecast period.

Major players in the global automotive tie rod market include Federal-Mogul (U.S.), TRW Automotive (U.S.), ACDelco (U.S.), Ditas (Turkey), Mando Corporation (South Korea), Sankei (Tokyo), KDK Forging (U.S.), Mevotech (Canada), MAS Industries (Canada), FAI Automotive Plc (U.K.) and Crown Automotive (U.S.) among others.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.