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The centre link is used to transfer movement from the inner tie rod to the steering arms on both sides of the vehicle as compared to the drag link that is attached to an idler arm. During driving, the centre link enables the driver to turn the front wheels in the preferred direction. The center and drag chain components make the vehicle run smoothly, and reduce vibration and swing, thus making it easy to drive. The center and drag link assembly are significant components of the steering wheel, designed to maintain the alignment of the front axle and front wheels. The automakers are focusing on manufacturing products to overcome challenges such as harsh ground conditions, uneven ground, safety, reliability, and extreme temperatures. With the increasing demand of consumers for better and highly efficient auto parts, the manufacturers need to design products that meet the above challenges, especially for commercial vehicles by protecting challenging quality standards. Technological advancements in automotive industry is one of significant aspects driving the demand for strong and highly durable center and drag links. Besides, the number of players in the centre and drag link market has augmented in the past few years owing to the rising demand in the market. Also, manufacturers are focusing on research and development to attain high growth thus fuelling the growth of the market in the world.
Technological advancements in the automotive industry coupled with the innovation of products increasing interest of new players have fuelled the market growth in recent years. However, numerous suppliers have indeed increased the availability of products, resulting in poor quality and reduced efficiency, thereby hindering the market growth of centre and drag links components.
Key Market Driver -
Technological advancement in the automotive industry is expected to drive the growth of the market in the forecast period
Key Market Restraint -
Frequent replacement cost may hinder the growth of the market during the forecast period.
Globally, the centre and drag link market is segmented by type, by application type, and by geographic coverage. The centre link type is further segmented into 1 to 1.5 inches, 1.5 to 1.75 inches, and 1.75 to 2.75 inches. The 1.5 to 1.75 inches segment holds the major share in the global market. This size of center links are primarily used in majority of cars and light commercial vehicle. The high production volume of cars and light commercial vehicles contributes to the major share in the 1.5 to 1.75 inches center and drag links. This segment is expected to maintain its dominance over the forecast period as the sales and production of passenger cars and commercial vehicles is increasing over the past few years. The application type is further segmented into light-duty vehicle, medium-duty vehicle, and heavy-duty vehicle. The light-duty vehicle segment accounts for the significant revenue share in the global centre and drag market owing to the high growth rate of sales and production of light-duty vehicles such as cars, SUVs, vans, and pickup trucks. The increasing urbanization, expansion of the industrial sector, development in the road infrastructure and rise in the disposable income of the nation are the primary factors for the high volume of passenger cars and cargo vans. Also, the development of the transportation and logistics industry has given a boost to the light duty vehicle segment and is expected to propel in the coming years.
Major players operating in the global centre and drag link market include KOREA Central CO., LTD. Tenneco Inc., Moser Engineering, Rane Holdings Limited, ZF Friedrichshafen AG, and Powers & Sons Construction Company, Inc. among others.
Geographically, the centre and drag link market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific holds the major share in the global market and is expected to uphold its leading position in the forecast period. Compared with developed countries, labour costs in the Asia-Pacific region are low, making manufactured products in the Asia-Pacific region cheaper. Developing and developed economies such as India, China, South Korea, and Japan are the major contributors of the rapid growth in the automotive industry. Moreover, several prominent players are investing and planning to expand their business in emerging countries which is likely to boost the centre and drag link market.
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