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(I-AutoNewsWire.com, September 06, 2019 ) Market Overview • The tie rod is a part of the steering mechanism in a vehicle. A tie rod consists of an inner and outer end. The tie rod transmits force from the steering center link or rack gear to the steering knuckle; this will cause the wheel to turn. • The outer tie rod end connects with an adjusting sleeve, which allows the length of the tie rod to be adjustable. This adjustment is used to set a vehicle’s alignment angle. • Tie rods generally exist in pairs on each tire which enables the angling and cornering of the casing without producing too much of torque on the wheel however deep the turn may be.
Market Dynamics • The adoption of computer-aided engineering (CAE) and computational flow dynamics (CFD) is increasing in the automotive industry to achieve design optimization in pre-product development. This will boost the Global Automotive tie rods market innovation in the forecast period. • 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, which is the significant restraint for the automotive tie roads market globally. Market Segmentation By Product Type • Outer tie rods • Inner tie rods By Vehicle Type • Passenger car • Commercial vehicle • Heavy duty vehicle By Sales Channel • OEM • Aftermarket By Region • Asia Pacific • Europe • North America • South America • Rest of the World Geographical Analysis • The Asia Pacific is anticipated to emerge as the most lucrative and the fastest growing regional market for automotive tie rods, owing to the presence of major emerging markets for automobiles such as Japan, China, South Korea, and India. • 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 the Asia Pacific region during the forecast period. • The demand for automotive tie rod is more in developed countries such as the US, Canada, and Germany and developing economies such as China, India, Thailand, and Indonesia. Company profiles • Some of the major players for automotive tie roads are • ZF Friedrichshafen AG (Lemforder), • TRW Automotive, • Federal-Mogul Motorparts and • Others
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