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The advancement in the stabilizer bar by the lightweight and high tech material is likely to drive the growth of the stabilizer bar market. The stabilizer bars ensure safety and comfort in vehicles. Automotive stabilizer bars vary in different sizes and shapes, and on the functionality of vehicles, it is equipped. The logistics, mining, and construction operations are fuelling the growth of the automotive stabilizer bar market. The automotive stabilizer bar has vast demand in the aftermarket owing to primarily used in the race cars. The rising demand for vehicles and also growing disposable income coupled with the increased expenditure of consumers on the safety and advanced technologies in the vehicles are factors expected to drive the market for the automotive stabilizer bar.
Many manufacturers are also developing and manufacturing automobile parts with reduced weight for lowering the overall weight of the vehicle leading to protecting and helping the environment by reducing the CO2 emissions. The stabilizer bar provides discomfort while driving on bumpy roads, and this factor may hamper the growth of the automotive stabilizer bar market. Also, the slow demand for vehicles in some regions may restrain the growth of the market over the forecast period.
Key Market Driver -
The growing demand for the automobiles is expected to drive the growth of the market.
Key Market Restraint -
The disadvantage of providing discomfort on bumpy roads by stabilizer bar is expected to hamper the growth of the market.
The global automotive stabilizer bar market has been segmented into vehicle type, type, and region. By vehicle type, further, the market has been segmented into passenger cars and commercial vehicles. The passenger car segment is expected to dominate the market over the forecast period owing to the increasing growth of the automotive industries. The commercial vehicle segment is expected to show good growth in the market over the forecast period owing to the rise in mining, construction, and logistics operations in the developing countries. By type, the global automotive stabilizer bar market is segmented into the hollow stabilizer bar, solid stabilizer bar, splined stabilizer bar, and tubular stabilizer bar. The hollow stabilizer bar segment is expected to show exponential growth in the market over the forecast period. The hollow stabilizer bar has higher strength and lower weight compared to the solid stabilizer bar. The splined stabilizer bar segment is expected to show good growth in the market over the forecast period. The use of a splined stabilizer bar in race cars owing to its advantages such as improvement in handling and reduced body roll is likely to drive the growth of this segment in the market over the forecast period.
Some of the major companies that are present in the automotive stabilizer bar market include Sogefi SpA, Thyssenkrupp AG, Kongsberg Automotive, ZF Friedrichshafen AG, American Axle & Manufacturing, Inc., Tinsley Bridge Group, Yangzhou Dongsheng Automotive Co., Ltd., among others.
Geographically, the automotive stabilizer bar market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia-Pacific is expected to dominate the market over the forecast period. The growing adoption of the safety and advanced technologies in the vehicles and also a rising demand for vehicles in developing countries such as China and India are the factors that are expected to drive the growth of the market in this region. North America is also expected to show good growth in the automotive stabilizer bar market over the forecast period. The usage of splined stabilizer bars in this region in the race cars is likely to drive the growth of the market in this region. Europe is also expected to show good growth in the automotive stabilizer bar market over the forecast period.
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