The new report by Expert Market Research titled, ‘Global Centre and Drag Link Market Analysis, Share, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the Global Centre and Drag Link Market assessing the market based on its segments such as GVW, vehicle types, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 6.3%
Centre and drag link assembly is an important part in passenger and carriage vehicles, which connects the steering wheel to the front wheel of the vehicle, which turns when the steering wheel rotates. This is driving the market growth for of the centre and drag link market. Major factors that are expected to boost augment the growth of the centre and drag link market in the forecast period are include the improvement in the stock-keeping units (SKUs) with the object to upsurge the coverage of products for different vehicle models, the manufacturers of the steering wheel system are being attentive on the widespread research and development in order to accomplish clear growth, and the increasing availability of enhanced product advancement at affordable costs. The need for the replacement of worn-out or defective centre and drag link with new units is expected to maintain demand and stimulate the global centre and drag link market.
Centre and Drag Link Industry Definition and Major Segments:
A functional and dependable centre and drag link is an important aspect of a vehicle’s steering system; a functional and reliable centre and drag link helps keep the vehicle safe on the road. The centre and drag link (also known as the centre link) is coupled to the inner tie rods by being connected to both the Pitman and idler arms at either end.
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By GVW, the market is segmented into:
• Less Than 8000 lb. GVW
• Between 8000-15000 lb. GVW
• Greater Than 15000 lb. GVW
Based on vehicle type, the market is divided into:
• Light-Duty Vehicles
• Medium-Duty Vehicles
• Heavy-Duty Vehicles
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Centre and Drag Link Market Trends
High-quality products from top companies are projected to drive the global centre and drag link market. The growing end-user preference for improved and more effective vehicle components, as well asalong with the increasing demand for the expansion of more tough and strong products, such as the centre and drag links, are some of the factors that are expected to drive the growth of the centre and drag link market. Furthermore, the increasing number of competitors in the centre and drag link market as a result of the market’s fragmented character and , as well as technological advances in the automotive sector, are some of the other factors expected to support the market’s expansion.
Key Market Players
The major players in the market are Powers & Sons, LLC, ZF Friedrichshafen AG, Rane Group, TAHIKO Co., Ltd, and DRiV Incorporated (Tenneco Inc.), among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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