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Steering Tie Rod Market Value Growth And Long-Term Outlook
The steering tie rod market size has grown strongly in recent years. It will grow from $16.52 billion in 2025 to $17.5 billion in 2026 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to expansion of global vehicle parc, growth of passenger and commercial vehicle production, rising demand for replacement steering components, widespread use of rack and pinion systems, improvements in material engineering.
The steering tie rod market size is expected to see strong growth in the next few years. It will grow to $21.69 billion in 2030 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to increasing electrification of steering systems, rising demand for precision steering components, expansion of autonomous vehicle platforms, growing focus on extended component lifespan, increasing integration of advanced suspension systems. Major trends in the forecast period include increasing adoption of advanced steering systems, rising demand for lightweight tie rod materials, growing focus on vehicle safety and stability, expansion of aftermarket replacement demand, improved durability and corrosion resistance.
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Steering Tie Rod Market Development Factors: What’s Supporting Demand?
Increasing automotive production is expected to propel the growth of the steering tie rod market going forward. Automotive production refers to the process of manufacturing vehicles, including cars, trucks, and other automobiles, from raw materials to finished products ready for sale. The increasing automotive production is driven by growing global demand for vehicles, advancements in technology, and expanding markets. Steering tie rods are essential components used in automotive production to connect the steering rack to the steering knuckle, allowing for controlled steering of the vehicle. For instance, in September 2024, according to the Japan Automobile Manufacturers Association, a Japan-based non-profit industry association, in 2023 worldwide motor vehicle production (excluding motorcycles) increased 10.3% from the previous year to a total of 93.55 million units. Therefore, increasing automotive production is driving the growth of the steering tie rod market.
Steering Tie Rod Market Segment Trends And Revenue Contributors
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 Transformation Trends: What Innovations Are Driving Change?
Major companies operating in the steering tie rod market are focused on developing significant expansion of products, such as steering and suspension parts, to enhance product coverage, safety, and durability while meeting the growing demand for high-quality steering and suspension parts. For instance, in June 2024, DRiV Incorporated, a US-based automotive parts supplier, announced a significant expansion of its Monroe Steering and Suspension range with 750 new part numbers, increasing coverage by 20% and reinforcing the brand’s commitment to safety, durability, and reducing comebacks. This expansion introduces new parts for popular late-model vehicles and enhances product quality with advanced materials, anti-corrosion coatings, and stringent testing to meet original equipment standards.
Steering Tie Rod Market Competitive Landscape: Which Companies Lead The Industry?
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 Regional Analysis And Top Geography
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.
