An integral component of the steering system of a vehicle is the automotive tie rod assembly. The main function of the automotive tie rod assembly is to tie the steering rack to the steering mechanism. It is a thin structural rod that is used for binding and can only hold tensile loads. There is an external and internal end to the tie rod. It transmits force to the steering knuckle from the rack gear or steering hub. This will allow the wheels to turn at the angle that is necessary. The inner and outer tie rods are joined by a sleeve joint that allows the steering mechanism to be modified.
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Automotive Tie Rod Assembly: Market Dynamics
Rising demand for passenger cars along with increasing awareness for safety are the primary driving factors expected to accelerate the implementation of automated tie rod assembly in automotive. Subsequently, expected to bolster the growth of automotive tie rod assembly market.
Government authorities across the globe are making numerous efforts for 4 wheeler safety through implying regulations or through publicity and promotions. These activities are expected to drive customer focus for implementing robust safety systems. Which, in turn, is creating positive prospects for the automotive tie rod assembly market growth during the forecast period.
Impact of COVID-19 Crisis on Automotive Tie Rod Assembly market:
The ongoing COVID-19 crisis has severely affected the global economy. According to the International Monetary Fund, the global economy is expected to fall below -3% subsequently effecting all the international trades. With the economic activities in the globe coming to an almost standstill, the pandemic has affected the business, demand, trade and supply chains of many industries.
The production activities for almost all the industries, including automotive, have been halted which has resulted in the reduction in demand for automotive tie rod assembly market. However, as the economic activity resumes, the automotive tie rod assembly market is expected to recover with a moderate rate over the coming years.
Automotive Tie Rod Assembly Market: Key Market Participants
- Ample Auto Tech Pvt. Ltd.
- S. Autocomp Pvt. Ltd.
- Ocap Chassis Parts Pvt. Ltd.
- FAI Automotive
- Powers & Sons
- Honssion Auto Chassis System (Zhejiang)
- Patmax Union Corporation
The report covers exhaustive analysis on:
- Automotive Tie Rod Assembly Market Dynamics
- Automotive Tie Rod Assembly Market Size
- Automotive Tie Rod Assembly Supply & Demand
- Automotive Tie Rod Assembly Current Trends/Issues/Challenges
- Automotive Tie Rod Assembly Competition & Companies involved
- Automotive Tie Rod Assembly Technology
- Automotive Tie Rod Assembly Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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Automotive Tie Rod Assembly Market: Segmentation
The global automotive tie rod assembly market is segmented by type and application
basis of type :
- Steering Tie Rod Assembly
- Straight Tie Rod Assembly
basis of application:
- Passenger Cars
- LCVs
- M&HCVs
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