Automotive Control Arm Market Report Overview
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The global automotive control arm market size was USD 8414.76 million in 2021, as per our research, the market is expected to reach USD 12830.27 million in 2031, exhibiting a CAGR of 4.31 % during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with automotive control arm market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
The suspension part of a car that links the wheel hub to the chassis is called an automobile control arm. Its function is to manage how the wheel moves and is positioned while also absorbing road stress to assist make the ride for passengers more comfortable. Control arms can be built of materials including steel, aluminium, or composites and come in a variety of forms such as the double wishbone, MacPherson strut, and multi-link. As control arms age, they may need to be changed if they exhibit corrosion, cracks, or looseness as these conditions can impair the handling and safety of the vehicle.
Due to the rising demand for automobiles and the requirement for high-quality suspension parts, the market for automotive control arms has been expanding rapidly in recent years. The market for control arms has expanded as a result of the introduction of innovative technologies in the automotive sector and the desire for higher-performing parts from automakers. The automotive control arm market size is expanding as a result of a number of factors, including rising interest in luxury and high-performance cars, the popularity of electric vehicles, and rising aftermarket product demand. The creation of cutting-edge technology like driverless vehicles and sophisticated suspension systems has also helped the industry expand.
COVID-19 Impact: The Pandemic Had A Tremendous Impact Which Caused The Demand For And Production Of Automobile Control Arms To Fall
The market for automobile control arms has been significantly impacted by the COVID-19 pandemic. The automobile sector has slowed due to a sharp decline in demand for vehicles as a result of the worldwide lockdown measures and travel restrictions. This has led to a decline in vehicle manufacturing, which has in turn decreased demand for control arms. Additionally, the pandemic's effects on the supply chain disrupted the manufacturing and distribution of control weapons, creating a market scarcity. The issue has worsened due to factory closures and bottlenecks in the delivery of products, which has slowed down the creation of control arms. Additionally, the COVID-19 pandemic has reduced consumer purchasing power, which has decreased automobile sales. Control arms, a crucial part of automobiles, have seen a decrease in demand as a result of this.
Latest Trends
"The Market For Automotive Control Arms Is Changing As A Result Of The ADAS Trend, Which Is Also Spurring Advancements In Vehicle Efficiency And Safety"
The market for automotive control arms is increasingly being influenced by the trend toward integrating Advanced Driver Assistance Systems (ADAS) into automobiles. Automakers are beginning to realize how crucial these technologies are to enhancing both driver convenience and road safety. ADAS technologies are becoming common in cars and include lane departure warning systems, frontal collision warning systems, and adaptive cruise control. These systems can identify and react to possible driving dangers using cameras, sensors, and control algorithms. The market for control arms is seeing innovation due to the need for these systems, as manufacturers work to provide strong, lightweight components that can support these sophisticated systems. The need for control arms that can sustain the extra weight and torque produced by electric and hybrid cars is also growing as a result of this development.
Automotive Control Arm Market Segmentation
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- By type
Depending on automotive control arm given are types: Cast Iron Control Arms, Cast Aluminum Control Arms, Stamped Steel Control Arms. The Cast Iron Control Arms type will capture the maximum market share through 2031.
- By Application
The market is divided in MacPherson strut, Multi-link suspension, Double Wishbone Suspension & Other based on application. The global automotive control arm market players in cover segment like MacPherson strut will dominate the market share during 2021-2031.
Driving Factors
"The Market For Automotive Control Arms Is Expanding Due To The Increasing Demand For Automobiles"
One of the major factors propelling the automotive control arm market growth is the increased demand for cars on a global scale. The need for control arms, essential parts of the suspension system, is growing as more and more cars are being produced. The expansion of the automobile sector in developing economies like Asia-Pacific is a major driver of the need for control arms. Due to the expanding middle class and rising spending power in these areas, there is an increase in demand for personal automobiles. Additionally, the market for control arms is expanding as a result of the popularity of electric and hybrid cars, which need control arms that can sustain the added weight and torque produced by their electric motors.
"Market Expansion And Innovation In Car Design And Production Are Being Fueled By The Uptake Of Electric And Hybrid Vehicles"
The automotive control arm market growth is expanding significantly due to the increasing popularity of electric and hybrid cars. Control arms for these vehicles must be able to sustain the weight and torque that their electric motors add. The need for control arms that can support electric and hybrid cars is rising as their popularity continues to soar. As a result, more sophisticated control arms that are lighter, stronger, and more resilient are being developed. The popularity of electric and hybrid vehicles is also spurring advancements in the materials and manufacturing processes used to make control arms. Automakers are implementing lightweight materials like composites and cutting-edge production processes like automation and robots in an effort to decrease weight and increase fuel economy.
Restraining Factors
"The Market Is Being Constrained By The High Cost Of Producing Automobile Control Arms"
The market for automotive control arms is being constrained from expanding by a number of important factors, including high production costs. The development of high-quality control arms necessitates a sizable investment in raw materials, manufacturing techniques, and machinery. High manufacturing costs result from this, which can make it challenging for businesses to compete in the market. The high cost of producing control arms is partly a result of the usage of premium components such lightweight composites and sophisticated metals. Manufacturers must also engage in cutting-edge manufacturing techniques, such robots and automation, in order to fulfil market expectations, which pushes up production costs. As a result, producers must strike a compromise between the need for high-quality control arms and the requirement to limit production costs. This might be difficult since increased manufacturing costs can result in smaller profit margins and less market competition. The high cost of producing control arms, however, still poses a significant barrier to the automotive control arm market growth and is anticipated to remain so for some time to come.
Automotive Control Arm Market Regional Insights
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"In Response To Rising Automotive Sales, Asia Pacific To Have The Largest Market Share"
The market was dominated by Asia Pacific, which had a 2021 market size. With the quickest CAGR, it is anticipated to maintain its supremacy in the years to come. The automotive control arm market share is growing as a result of rising car sales in China. For instance, China sold 25 million automobiles in 2020, more than any other nation, according to the International Organization of Motor Vehicle Manufacturers (OICA). During the projected period, rising electric vehicle production and sales in China will also contribute to the market's expansion. Important regional businesses also contribute to the market's expansion. Additionally, the availability of raw materials, a well-established automotive sector, an expanding population, and cheap production costs are other factors that have contributed to the market expansion in APAC.
The projection term is expected to see a sizable CAGR in Europe. The robust automotive industries in Germany, France, the United Kingdom, Italy, and other nations in Europe are anticipated to drive market expansion. The automotive control arm market share is also expected to increase as a result of major companies like Continental AG, ThyssenKrupp AG, and ZF Friedrichshafen, as well as luxury manufacturers like BMW, Audi, and others. The high rate of electric car adoption in Europe also contributes to an increase in demand for automobile suspension systems. For instance, the International Council on Clean Transportation reports that in Europe, electric car registrations surpassed 560,000 units in 2019 and are projected to rise in the years to come.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Sidem (Belgium)
- Magneti Marelli (Italy)
- GMB (U.K)
- Saint Jean Industries (France)
- Multimatic Inc. (Canada)
- RTS (U.S)
- Schaeffler AG (Germany)
- GESTAMP AUTOMOCION SA (Spain)
- Bharat Forge (India)
- Delphi Automotive (Ireland)
- SANKEI Industry (Japan)
- Magna International Inc. (Canada)
- Wang Jin Machinery (China)
- Yorozu (Japan)
- Benteler (Germany)
- OCAP (Italy)
- DURA Automotive Systems (U.S)
- ZF (Germany)
- Martinrea (Canada)
- ACDelco (U.S)
- THK RHYTHM (U.S)
- Futaba Industrial Co. Ltd. (Japan)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 8414.76 Million in 2021 |
Market Size Value By |
US$ 12830.27 Million by 2031 |
Growth Rate |
CAGR of 4.31% from 2021 to 2031 |
Forecast Period |
2023-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global automotive control arm market expected to touch by 2031?
The global automotive control arm market is expected to touch USD 12830.27 million in 2031.
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What CAGR is the automotive control arm market expected to exhibit during 2021-2031?
The automotive control arm market is expected to exhibit a CAGR of 4.31% over 2021-2031.
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Which are the driving factors of the automotive control arm market?
Increasing demand for automobiles and uptake of electric and hybrid vehicles are the driving factors of the automotive control arm market.
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Which are the top companies operating in the automotive control arm market?
Sidem, Magneti Marelli, GMB, Saint Jean Industries, Multimatic Inc. are some of the top companies operating in the automotive control arm market.