Automotive Idler Arm Market: Global Industry Analysis and Forecast (2023-2029)

Automotive Idler Arm Market was valued at US$ 3.35 Bn. in 2022 and it is estimated to reach a value of US$ 4.18 Bn. in 2029. Global Automotive Idler Arm Market size is estimated to grow at a CAGR of 3.2% over the forecast period.
Automotive Idler Arm Market Overview:
The automotive idler arm is a driveshaft or other fixed device attached to the wheels of an automobile. It takes power from the engine and drives the front wheels or individual wheels in rear-wheel drive vehicles. Idler's arm work by pushing against the spring, which in turn pushes back on the lifting and balancing the weight of the car or truck's wheel. The factor which is attributed to the growth in the type of part is its ability to maintain stability while keeping constant contact with other components to ensure their precise positioning during movement.To know about the Research Methodology:-Request Free Sample Report

The idler arm is designed to keep the center link parallel to the surface of the road which allows the connection to swivel both left and right. The pitman's arm is attached to the gearbox; it turns the center link as the driver steers the vehicle. The idler arm provides for swivel movement and resists up and down movement. It is a component that improves the alignment of the vehicle. The idler arms connect the wheel's suspension systems by being installed between the opposite side of the pitman's center link and the vehicle's chassis. In commercial or passenger vehicles, the idler arm's job is to provide rotational support to the steering linkage.

The factors such as the increasing preference for light and heavy commercial vehicles and the growing number of advancements and innovations in terms of handling result in the growth of the market in the forecasted period. Additionally, the rising fleet size of the automotive vehicles and increase in the fleet of the automotive industry is estimated to accelerate the market's growth and the innovation in the automobile industry also acts as a beneficial factor for the automotive idler arm market.

Vehicles-to-everything enables real-time communication between the vehicles and their surroundings. It includes vehicles-to-vehicles, vehicles-to-pedestrian, and vehicle-to-infrastructure, among other cases. This technology facilitates autonomous driving, traffic flow optimization, and road safety by enabling vehicles to communicate with each other and the surrounding infrastructure. These features lead to provide market growth and increase the sales of automotive idler arm products.

The report explores the Automotive Idler Arm Market's segments (Type, Interferometer Type, Application, End-User, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2022. The report investigates the Automotive Idler Arm Market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Automotive Idler Arm Market's contemporary competitive scenario.
Automotive Idler Arm Market Dynamics:
In this market, the major rising factors are considered as the increase in urbanization, increase in industrialization, and the increase in the demand for the private commute due to expansion of the working population is anticipated to drive the demand for the automotive idler market.

The idler arm has protruding share because of the increasing fleet of automotive vehicles in the global market. This booms the sale of automotive idler arm products. According to the data given by OEC, the global revenue generated by an automobile manufacturer more than US$ 125 billion in 2021 and the market of automotive idler arm covers 8-10% of the automobile industry as their revenue and is expected to have the growth of this market by 10-15% approximately as per the forecasted period.

Infrastructure development also plays an important role in the development of these market because in these sectors or industry the role of the automobile is the essential component and if the market for automobile increase it automatically, lift the market of the automotive idler arm market. As per the reports of FMI, it states that in India only, the investment in infrastructure by the government is US$ 1.3 trillion in 2021 and is estimated to have a growth of 25-30% in the forecasted year. These will definitely, impact the market size and the positive impact of this market growth let the automotive idler arm market to a higher extent.

The other component which is the government investment in public roadways and transport is estimated to drive the market growth. The rising concerns about pollution, crude oil prices, and regulation of zero carbon emission standards are likely to influence the demand for electric vehicles, which probably drives the market, and the rising of goods, logistics, and transport industry which has increased their revenue by 255 as compared to the previous year also propel the demand for the idler arms products which lift the market growth. The new greaseable automotive idler arm, which does not require periodic maintenance or oiling, is expected to drive the global demand for the automotive idler arm market in the forecasted period.

Automotive Idler Arm Market Trends:

The trend of vintage and classic cars are the major dominant factors that are expected to drive the growth of the automotive idler arm market in the forecasted period. It is a system that has a mechanism that physically connects and controls the car body and its wheels. The idler arm consists of a bracket, an arm that connects the bracket to the center link of the steering linkage, and an internal pivot bearing. Many vehicles have two idler arms. The key benefit of the idler arm to getting into the trend in the automobile industry is that it provides the pivoting supports for the steering linkage. It is comprised of a rod that pivots on a bracket bolted to the frame of the vehicles on one end and supports a bail socket on the other end.

The factor driving the market is that this system is used mostly 80% in commercial vehicles. It is considered to be the simplest part to handle and design. The advantageous factor of these is it is simple in construction, economical in nature, easy to operate, and provides accuracy, contact between steering and pitman is free from play, and the internal damping is controlled to protect the automobile. It has minimal steering elasticity, compact so mostly used in front-engine or front-wheel drive.

According to the World Health Organization (WHO), it signifies that road safety is an important aspect across the globe, as per their data more than 1.3 million fatalities every year. As per the U.S Department of Transportation (DoT) road accidents can be reduced by 80% if there is the consumption of idler arm is regulated, it reduces the road traffic deaths by detecting and alerting invisible objects.

Automotive Idler Arm Market Restraining Factors:

The volatility in the prices of raw materials is the major restraining factor for the automotive idler arm market. It does not have much mechanism support to the vehicles and steering effort is lost in the friction these require technological innovation for these factors which might lead to have the market opportunity for the new entrants as well as the existing key players, wear and backlash of rack and pinion may create problems in functioning.

Some of the challenges faced by the automotive idler arm are it includes the huge cost of the setting and also in the replacement, which takes around $190 to $390. Moreover, setting up high-density traffic with millions of scenarios is practically challenging and cost-intensive as well. Abnormal vehicle warning, Control Loss Warning, and Hazardous Location training act as a challenge for the automotive idler arm market. The other challenging factor is the non-availability of the specific spectrum as a raw material for the manufacturing of the idler's arm and also replicating test scenarios in the real world is also challenging. Hence, these are the factors that restrain the growth of the automotive idler arm market across the globe.
Automotive Idler Arm Market Segment Analysis:
Based on Type, the Automotive Idler Arm Market is segmented into

Alloy steel is holding the largest market segment because it has a revenue of US$ 850 million in 2021, it acts as a raw material for the automotive idler arm, and it is also a part of an automobile suspension system. The function of this arm is the major factor that helps to dominate this market it provides support for the vehicle's driveshaft and reduces engine vibration which provides flexibility when traveling over rough terrain. It is used in such types of vehicles such as cars, trucks, off-road equipment, and trains. The idler arm can be found on the front end of a car or truck's suspension system between the steering arms allowing proper turning and control of any automobile while driving it.

Carbon steel is the second-largest market segment, it attributes the growth because of the metals it includes like magnese, silicon, and sulfur. These additional elements are added during the manufacturing process to achieve specific properties like higher tensile strength or increased fatigue resistance. Carbon steel is widely used in idler arms because of its affordability, and easy formation into shapes. It is usually plated with zinc, which protects them from corrosion. They have a broad area of application in areas like vehicle suspension and steering components that call for lightweight materials which gives strength as well as levels of ductility and toughness.

The other segments also improving in the market but they require more functions to propel the market growth.

Based on the Application, the Automotive Idler Arm Market is segmented into Passenger Vehicles and Commercial Vehicles.

Commercial Vehicles capture the largest market share by 55% and generate a revenue of US$ 704 million in the year 2021 and are expected to have a growth of 25% more in terms of revenue for the forecasted period of 2029. The reason for having such market capture is when a commercial vehicle is on road, it may lose its stability and cause the steering wheel to jerk or even roll down to an unbalanced tire. The idler arm helps these vehicles and they are designed in a way that it helps to maintain the traction of tires by balancing them when needed with limited forces on the other parts of the suspension system such as springs and shock absorbers to reduce the risk of shocks. An automatic idler arm also helps to reduce the vibration in the suspension systems. Hence, it is the main factor that lets these segments hold the market share of the automotive idler arm market and growth in the forecasted period.

In passenger vehicles, idler arms are present in almost all vehicles. They connect the steering shaft to the lower control arm and provide a parallel path that loosely couples two components of the front-wheel-drive system. It helps to maintain the alignment by preventing toeing or camber change as they absorb road shocks, this eliminates the knocks for the suspension parts. This is the factor that also lets the use of the idler arm for these segments.
Automotive Idler Arm Market Regional Insights:
The Automotive Idler Arm Market region held the largest market share accounting for 35% in 2021 in the North American region.

The North American region is holding the largest market share having a market of US$ 965 million in revenue in the year 2021. The factors which are attributing to the growth are high demand the for the passenger as well as commercial vehicles for the development of their road and transport infrastructure and it contributes towards the largest percentage of total vehicle production and affordability, also their focus on the zero-emission of carbon and their shifting towards the electric vehicles. According to the data by OEC, the US is holding the largest market for electric vehicles. These lift the market size of the automotive idler arm market for this segment.

Europe is the second-largest market holder in this market by 30% in the year 2021 and is expected to reach a market growth of 6.5% every year over the forecasted period. The factors which are associated to have the growth are the key players attributing their investment in the development of products of the automotive idler arm and also anticipating the growth of electric vehicles as per the government regulatory standards.
Other regions are also contributing to the growth of these markets by adopting electric vehicles and making stringent regulations on the consumption of such services.

The objective of the report is to present a comprehensive analysis of the global Automotive Idler Arm 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 reports also help in understanding the Automotive Idler Arm Market dynamic and structure by analyzing the market segments and projecting the Automotive Idler Arm Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Automotive Idler Arm Market make the report investor’s guide.
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Automotive Idler Arm Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 3.35 Bn.


Forecast Period 2023 to 2029 CAGR:
3.2%
Market Size in 2029:
US $ 4.18 Bn.


 Segments Covered:
by Type
• Alloy Steel
• Iron
• Carbon Steel
• Others


by Application
• Passenger Vehicles
• Commercial Vehicles



Automotive Idler Arm Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Automotive Idler Arm Market Key Players:
• Sankei Industries Co. Ltd
• High Link Auto parts Co.
• GMB Corporation Japan
• Datta Industries
• Rare Parts, Inc.
• Emerson Forge Pvt. Ltd.
• Mevotech
• Ningbo Motor Industrial
• Chase Steering Parts Co.
• Denso Corporation
• Aptive
• Continental AG
• Kapsch TrafficCom
• Lear Corporation

Frequently Asked Questions:

1. Which region has the largest share in Global Automotive Idler Arm Market?
Ans: North America region held the highest share in 2022.

2. What is the growth rate of Global Automotive Idler Arm Market?
Ans: The Global Automotive Idler Arm Market is growing at a CAGR of 3.2% during forecasting period 2023-2029.

3. What is scope of the Global Automotive Idler Arm Market report?
Ans: Global Automotive Idler Arm Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Automotive Idler Arm Market?
Ans: The important key players in the Global Automotive Idler Arm Market are – Sankei Industries Co. Ltd, High Link Auto parts Co., GMB Corporation Japan, Datta Industries, Rare Parts, Inc., Emerson Forge Pvt. Ltd., Mevotech, Ningbo Motor Industrial, Chase Steering Parts Co., Denso Corporation, Aptive, Continental AG, Kapsch TrafficCom, Lear Corporation

5. What is the study period of this Market?
Ans: The Global Automotive Idler Arm Market is studied from 2022 to 2029.