Analysis of Automotive Track Bars market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Automotive suspension systems have been of crucial importance in any vehicle as the shock produced through the front and rear wheels when a vehicle travels on rough and uneven surfaces is effectively eliminated. Automotive track bars decrease the stress and strain that would otherwise impact the driver and other vehicle parts by absorbing the shock from uneven and rough terrains.
Automotive track bars are called Panhard rods or automotive track rods, and their main function is to provide lateral supporting movement to the axle of the vehicle. Automotive track bars are very useful in eliminating the death wobble between the wheels and axle, thus providing a smooth driving experience.
Automotive track bars prevent the lateral movement of the vehicle as well as enable the driver to have better control on the steering even on rough terrains. Automotive track bars are simple rigid bars running sideways in synchronization with the vehicle axle in the same plane as the vehicle axle.
Automotive track bars are placed on either ends with the help of pivots, which helps the bars swivel downwards and upwards only such that the vehicle axle moves in the vertical plane. This arrangement between the automotive track bars and the vehicle axle is usually used with the coil springs system as leaf springs suspensions themselves supply enough lateral rigidity. Nevertheless, there are some light truck auto-makers that use automotive track bars with leaf spring suspension systems in the global market.
New-age cars, such as those equipped with features like drive assistants, have made the automotive industry much more competitive. There is plenty of scope for the R&D in the automotive track bars market. Some of the key automotive market players are aspiring to offer increased comfort by developing novel products such as the automotive track bars with enhanced damping properties, especially for vehicles used in professional racing and stunting.
In addition, the market for automotive track bars has grown due to development in the overall automotive sector, as consumers are more attracted towards safety and riding comfort. Furthermore, growth in racing and adventure sports, such as dirt car racing and off-road events, is expected to fuel the growth of the overall automotive track bars market in the coming years. The market for automotive track bars is expected to grow at a healthy CAGR during the forecast period. Growth in the applications of track bars in commercial vehicles is expected to propel the overall automotive track bars market in the near future.
A global economic boom in the last decade of the twentieth century has been one of the drivers for efficiency, productivity and open & unregulated markets that swept the world. Never before in world history have businesses been so deeply involved in and affected by international global developments. Powerful economic, technological, industrial, political and demographic forces are converging to build the foundation of a new global economic order on which the structure of a world economic and market system will be built.
Owing to the booming industrial & automotive sector in North America, Europe and the Japan, consumers in the aforementioned markets have a higher standard of living with luxurious lifestyles and high disposable incomes, which has boosted the adoption of automotive track bars in all types of vehicles. People have developed a liking for a comfortable and smooth riding experience, thus the automotive track bars market is expected witness rapid growth in all developed and developing countries in the future.
Emerging economies in the APEJ region, especially India and China, will play an important role in the growth of the automotive track bars market in the coming years. In countries such as India and China, passenger cars are considered basic modes of transportation and hence, there is a vast growth potential for the global automotive track bars market in the near future.
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The automotive track bars market can be segmented by material type, sales channel, distribution channel and vehicle type.
By material type, the automotive track bars market can be segmented as:
By sales channel, the automotive track bars market can be segmented as:
By distribution channel, the automotive track bars market can be segmented as:
By vehicle type, the automotive track bars market can be segmented as:
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Fact.MR
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Automotive Track Bars market is estimated to grow at a CAGR of 4.5% during the forecast period.
The automobile sector is now much more competitive thanks to modern cars, particularly those with features like driving assistants.
The U.S. is likely to be a region with lucrative opportunities for the automotive track bars manufacturers.
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