The automotive idler arm global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive Idler Arm Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automotive idler arm market size has grown steadily in recent years. It will grow from $4.59 billion in 2023 to $4.8 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to increased automotive production, stringent safety standards, commercial vehicle fleet growth, consumer preferences for comfort..
The automotive idler arm market size is expected to see steady growth in the next few years. It will grow to $5.53 billion in 2028 at a compound annual growth rate (CAGR) of 3.6%. The growth in the forecast period can be attributed to focus on lightweight materials, electric and hybrid vehicle adoption, global regulatory initiatives, autonomous vehicle developments, urbanization and last-mile delivery.. Major trends in the forecast period include adoption of smart technologies, customization for autonomous vehicles, integration with advanced suspension systems, strategic partnerships in automotive manufacturing, technological innovations in automotive design..
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Scope Of Automotive Idler Arm Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automotive Idler Arm Market Overview
Market Drivers –
The growing demand for lightweight and heavy vehicles is expected to propel the growth of the automotive idler arm market going forward. Lightweight and heavy vehicles, commonly referred to as vehicular categories, represent a range of motorized modes of transportation that aid in categorizing vehicles based on their intended applications, size, and load-bearing capabilities, laying the groundwork for tailored regulations, infrastructure, and utilization factors in the context of transportation and mobility. Automotive idler arms are used in lightweight and heavy vehicles to serve an essential role in maintaining good steering alignment and stability, making them critical components in a wide range of automobiles to provide maximum handling and ride comfort and robust steering components to endure complex operation. For instance, in July 2023, according to a report provided by the Federal Reserve Bank of St. Louis, a US-based reserve bank, 12.57 million units of lightweight vehicles were sold in May 2022, rising to 15.73 million units in July 2023. Furthermore, in March 2022, according to Statistics Canada, a US-based provider of statistical data and insights, heavy truck sales increased by 7.7% from 1,266,625 in 2020 to 1,364,320 in 2021. Therefore, the growing demand for lightweight and heavy vehicles will drive the automotive idler arm market.
Market Trends –
Growing demand for classic cars is expected to propel the growth of the automotive idler arm market going forward. A classic car refers to an older car considered historical or cultural significance or having a certain level of rarity or desirability. Due to the age and corrosion of the classic car, the idler arm sits extremely tightly on the shaft and can cause the steering to become loose or unresponsive, which requires the replacement of the idler arm. For instance, in October 2022, according to Classic.com Inc., a US-based provider of insights on classic cars, the number of classic car auction listings in the US increased by 39.9% from 18,507 in 2021 to 25,892 in 2022. Further, the dollar volume generated from the auction increased by 31.4% from $960.9 million in 2021 to $1.3 billion in 2022. Therefore, the growing demand for classic cars will drive the automotive idler arm market.
The automotive idler arm market covered in this report is segmented –
1) By Type: Alloy Steel, Iron, Carbon Steel, Stainless Steel, Aluminum
2) By Product Type: Standard, Adjustable, Performance
3) By Vehicle Type: Conventional, Electric, Hybrid
4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
5) By Application: Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles
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Regional Insights –
North America was the largest region in the automotive idler arm market in 2023. The regions covered in the automotive idler arm market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the automotive idler arm market report are Denso Corporation, Continental AG, Lear Corporation, Tenneco Inc., BorgWarner Inc., Federal-Mogul Motorparts LLC, Dorman Products Inc., GMB Corporation Japan, Auto Parts International Inc., Skyward Automotive, Mevotech LP, Sankei Industries Co. Ltd., ZF LEMFORDER Corp., Detroit Axle, Emerson Forge Pvt. Ltd., Ferdinand Bilstein GmbH + Co.KG, Changzhou JLD Auto Parts Co. Ltd., Rare Parts Inc., ACDelco, Ningbo Motor Industrial Co. Ltd., Guangzhou Lingyue Auto Parts Co. Ltd., TRQ Auto Parts, High Link Auto Parts Co. Ltd., Datta Industries Pvt. Ltd., Chase Steering Parts Co., Taizhou Dongna Mechanical & Electrical Co Ltd.
Table of Contents
1. Executive Summary
2. Automotive Idler Arm Market Report Structure
3. Automotive Idler Arm Market Trends And Strategies
4. Automotive Idler Arm Market – Macro Economic Scenario
5. Automotive Idler Arm Market Size And Growth
…..
27. Automotive Idler Arm Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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