The global centre and drag link market size is set to experience dynamic growth in the forthcoming years owing to the rising demand for high-quality auto parts, observes Fortune Business Insights™ in its report, titled “Centre and Drag Link Market, 2021-2028”. The centre and drag link are significant components of the steering wheel that are designed to maintain the alignment of the front axle and front wheels. The centre link helps the driver to turn the front wheels in the preferred direction. There has been an increasing demand for high-quality automotive parts owing to the passenger safety and to overcome the challenges such as road conditions, bad weather, and others. Thus, this is a major factor responsible for the growth of this market. However, the cost of replacement of the centre and drag link is relatively high, which is projected to restrict the growth of this market.
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List of Key Players Covered in the Centre and Drag Link Market Report:
- KOREA Central CO., LTD.
- Tenneco Inc.,
- Moser Engineering,
- Rane Holdings Limited,
- ZF Friedrichshafen AG,
- and Powers & Sons Construction Company Inc.
On the basis of type, this market is divided into 1 to 1.5 inch, 1.5 to 1.75 inch, and 1.75 to 2.75 inch. Based on application type, the market is classified into light-duty vehicle, medium-duty vehicle, and heavy-duty vehicle. In terms of geography, the market is clubbed into North America, Europe, Asia Pacific, and the rest of the world.
The report supplies holistic research, based on primary, secondary, and tertiary sources, on the various factors and trends driving the market. This report also contains a comprehensive understanding of the key market players and their dominant growth strategies. Along with this, the report provides a nuanced segmentation of the market and a thorough analysis of each and every segment. Lastly, the report shares a broad-based study of the regional developments shaping the future outlook of the market.
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Increasing Technological Advancements in the Automotive Industry to Fuel the Market
The key companies in the centre and drag link market are focusing on the production of highly efficient and better quality automotive parts with the help of latest technologies in the automotive sector. Thus, this has led to a surging demand for centre and drag link and other auto parts from the majority of the countries across the world, which is projected to fuel the growth of this market.
Rising Developments in the Automotive Sector to Boost the Asia Pacific Market Growth
The Asia Pacific region is anticipated to witness significant growth in the centre and drag link market share on account of the low labour cost and rising number of automotive parts manufacturing companies in the countries such as India, China, Japan, and South Korea.
Centre and Drag Link Market Segmentation:
- 1 to 1.5 inch
- 5 to 1.75 inch
- 75 to 2.75 inch
By Application Type
- Light-Duty Vehicle
- Medium-Duty Vehicle
- Heavy-Duty Vehicle
- North America (USA, Canada, and Mexico)
- Europe (Germany, France, U.K., and Rest of Europe)
- Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)
- Rest of the World
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Key Players to Strategically Expand Footprint in Emerging Markets
Developing nations across the Asian region are experiencing a significant increase in the demand for centre and drag link assembly owing to the rising demand for high-quality auto parts across the world. As a result, the key companies in this market are adopting different strategies to strengthen their footprint in these countries and gain a decisive edge over the rest of the competitors.
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