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Steering Tie Rod Market Size, Value And Growth Trends Through 2030
The steering tie rod market’s size has demonstrated robust growth in recent years. This market is projected to expAnd from $16.52 billion in 2025 to $17.5 billion by 2026, achieving a compound annual growth rate (CAGR) of 6.0%. Key drivers for historical growth include the expansion of the global vehicle parc, increased production of passenger And commercial vehicles, growing demAnd for replacement steering parts, the prevalence of rack And pinion systems, And enhancements in material engineering.
The steering tie rod market size is anticipated to experience substantial growth over the upcoming years, expAnding to $21.69 billion by 2030, with a compound annual growth rate (CAGR) of 5.5%. This growth during the forecast period is primarily driven by factors such as the increasing electrification of steering systems, a growing need for precision steering components, the expansion of autonomous vehicle platforms, an intensifying focus on extended component lifespan, And the greater integration of advanced suspension systems. Significant trends expected during this period include a rising adoption of advanced steering systems, an increased demAnd for lightweight tie rod materials, a stronger emphasis on vehicle safety And stability, the broadening of aftermarket replacement demAnd, And improvements in durability And corrosion resistance.
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#Steering Tie Rod Market Growth Factors: Which Forces Are Supporting Market Expansion?
The growth of the steering tie rod market is anticipated to be driven by increasing automotive production. Automotive production is defined as the manufacturing process of vehicles such as cars, trucks, And other automobiles, from their raw materials to finished products ready for sale. This rise in automotive production is propelled by factors including a growing global demAnd for vehicles, advancements in technology, And expAnding markets. Steering tie rods are vital components in automotive production, serving to connect the steering rack to the steering knuckle And thereby enabling controlled steering of the vehicle. For instance, in September 2024, the Japan Automobile Manufacturers Association, a Japan-based non-profit industry association, stated that worldwide motor vehicle production (excluding motorcycles) in 2023 increased by 10.3% from the preceding year, totaling 93.55 million units. Therefore, the ongoing increase in automotive production is stimulating the expansion of the steering tie rod market.
Steering Tie Rod Market Segmentation Trends And Revenue Drivers
The steering tie rod market covered in this report is segmented –
1) By Position: Inner Tie Rods, Outer Tie Rods
2) By Material: Carbon Steel, Stainless Steel
3) By Vehicle Type: Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicle
4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Subsegments:
1) By Inner Tie Rods: StAndard Inner Tie Rods, Heavy-Duty Inner Tie Rods
2) By Outer Tie Rods: StAndard Outer Tie Rods, Heavy-Duty Outer Tie Rods
Steering Tie Rod Market Industry Trends: What Changes Are Reshaping DemAnd?
Companies operating in the steering tie rod market are primarily focused on significantly broadening their product lines, specifically in steering And suspension components. This effort aims to improve product availability, ensure safety, And boost durability, thereby meeting the escalating demAnd for high-quality steering And suspension parts. For example, in June 2024, DRiV Incorporated, a US-based automotive parts provider, announced a substantial expansion of its Monroe Steering And Suspension portfolio with 750 new part numbers, which increased its coverage by 20% And highlighted the brAnd’s commitment to safety, longevity, And reducing service issues. This expansion introduces new items for widely used late-model vehicles And enhances product quality by incorporating advanced materials, anti-corrosion treatments, And rigorous testing to comply with original equipment stAndards.
#Steering Tie Rod Market Industry Leaders: Which Organizations Are Driving Competition?
Major companies operating in the steering tie rod market report include ZF Friedrichshafen AG, TRW Automotive, Moog Inc., CTR Corporation, HL MAndo Corp, Federal-Mogul Corporation, Sankei Industry Co. Ltd., Teknorot Automotive Inc., Dorman Products, Mevotech, ACDelco, Beck Arnley, First Line Ltd., FerdinAnd Bilstein (Bilstein Group), Optimal AG & Co. KG, Crown Automotive Sales Co. Inc., Bosch Group, Schaeffler Technologies AG & Co. KG, NSK Ltd., Centric Parts, Ingalls Engineering Co., Synergy Manufacturing Inc., APA Industries Inc., BorgWarner Inc., Beck/Arnley Worldparts Inc.
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Steering Tie Rod Market Geographic LAndscape: Which Region Dominates Industry Growth?
North America was the largest region in the steering tie rod market in 2025. The regions covered in the steering tie rod market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
