Idler Arm Market is Projected to Witness 4.1% CAGR During the Forecast Period, 2023 to 2032

Pune, India, December 2023, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Idler Arm Market.

Market Highlights

The idler arm is an automotive component and used to provide supports to the car steering linkage. It holds the center link at some height from the ground. It is an important component in the stable movement of vehicle on the rough terrain. As faulty idler arm can cause an improper alignment of the wheels and shaking of steering wheel of the vehicle.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Idler Arm MarketResearch Report

The increase in the global fleet size of the automotive vehicle, increase in demand for heavy and light commercial vehicles, and development in the material of the idler arm are the main factors driving the growth of the global idler arm market during the forecast period. Moreover, the introduction of new greaseable automotive idler arm and raise in demand for electric vehicles are expected to create opportunities in the market. However, idler arms are mainly trading from the low-cost manufacturing zones such as China, Taiwan, and Mexico, to the higher consumption zones such as the US, China, Germany, Japan, and the UK. Therefore, it is expected that the change in trade policies of these higher consumption zones are expected to hamper the global demand for idler arm during the forecast period.  

Drivers: Global Idler Arm Market
 

Market Research Analysis

By region, the global market for the idler arm is segmented as Europe, North America, Asia-Pacific, and the rest of the World. In 2018, Asia-Pacific is expected to account for the highest market share in terms of value and volume and further expected to dominate the market during the forecast period owing to the presence of China, India, Japan, South Korea, Malaysia, and Indonesia. In Asia-Pacific, China is expected to account for the highest market share in 2018, while India is poised to witness the highest CAGR between 2022 and 2030. Countries such as China, Taiwan, and Japan are the key manufacturing countries for the idler arm in the global market. Moreover, the highest production and consumption of vehicles as well as the availability of low-cost idler arm in the domestic market are enhancing the market size for Asia-Pacific in the global idler arm market. North America is expected to hold the second-highest market share in terms of value and volume of the global idler arm market. In North America, the US is expected to dominate the market share in terms of value and volume in 2018, while Mexico is expected to account for the highest growth rate in the domestic region during the forecast period. There is a rise in the demand for light commercial vehicles and growth of the e-commerce industry in the US and Canada. This expected to propel the demand for idler arm in the OEMs and aftermarket. In Europe, Germany is expected to dominate Europe idler arm market followed by France and the UK, while the UK is expected to grow at the highest growth rate in the market during the forecast period. The growth of the idler arm in the region is primarily driven due to introduced stringent government standards for the vehicle and occupant safety. However, the presence of developed nations and developed infrastructure are expected to limit the demand for idler arms in the aftermarket during the forecast period. In the rest of the World, South America is expected to hold a majority of the market share in the market compared to the Middle East & Africa. The growth of the idler arm in South America is due to an increase in the production of vehicles and underdeveloped road infrastructure are expected to raise the demand for the product in the domestic market.

The Global Idler Arm Market has been segmented into material, sales channel, and vehicle type. By material, the market is segmented into alloy steel, iron, carbon steel, and others. By the sales channel, the market has been segmented into OEM and aftermarket. By vehicle type, the market is segmented as a passenger car, light commercial vehicle, and heavy commercial vehicle.

Scope of the Report

This study provides an overview of the global idler arm market, tracking three market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume, and share for Europe, Asia-Pacific, North America, and the rest of the World. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global idler arm market by material, sales channel, vehicle type, and region.

• by Material
  
  
  
  • Alloy Steel
  
  
  • Iron
  
  
  • Carbon Steels
  
  
  • Others
  
  
  
  

• by Sales Channel
  
  
  
  • OEM
  
  
  • Aftermarket
  
  
  
  

• by Vehicle Type
  
  
  
  • Passenger Car
  
  
  • Light Commercial Vehicle
  
  
  • Heavy Commercial Vehicle
  
  
  
  

• by Regions
  
  
  
  • North America 
  
  
  • Asia-Pacific 
  
  
  • Europe
  
  
  • Rest of the World  
  
  
  
  

Key Players

The Leading Players in the Global Idler Arm Market include High Link Autoparts Co., Ltd (Taiwan), GMB Corporation Japan (Japan), ACDelco (US), Mevotech (Canada), Rare Parts, Inc. (US), Sankei Industry Co., Ltd (Japan), Emerson Forge Pvt. Ltd (India), Chase Steering Parts Co. (Taiwan), Ningbo Motor Industrial Co., Ltd (China), and Datta Industries (India).