Transparency Market Research in its new report titled, “Pitman Arms Market for Automotive – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the pitman arms market for automotive. The TMR report anticipates that the Increase in sales of commercial vehicles in urban areas will drive the pitman arms market for automotive during the forecast period i.e, 2018-2026. Increase in preference of consumers toward SUVs and MUVs as well as consistent rise in overall vehicle production are anticipated to propel the pitman arms market during the forecast period. A pitman arm assembly is not present in vehicles that employ rack and pinion steering, which is expected to restrain the Pitman arms market for automotive, says the report.
The TMR report has segregated the pitman arms market for automotive based on material, vehicle, electric vehicle, sales channel, and region. On the basis of material, the pitman arms for automotive market is classified into carbon composite material and two other segments. Among these, the carbon composite material segment is the latest trend that is projected to boost the pitman arms market for automotive during the forecast period. Utilization of carbon composite material in new applications in various industries, as a replacement for metal, has increased due to its advantages such as higher strength-to-weight ratio, corrosion resistance, and workability. The automotive industry has witnessed adoption of carbon composite material for applications where reduction of weight plays a crucial role, which in turn has led to the usage of carbon composite material. Based on vehicle, the pitman arms market for automotive is divided into passenger vehicle and commercial vehicle. In terms of sales channel, the pitman arms market for automotive is classified into OEM and sales aftersales.
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In terms of electric vehicle, the pitman arms market for automotive is segregated into battery electric vehicle, and two more segments. Rise in preference for electric vehicles in regions such as Europe and the Americas due to the increase in environmental pollution has further propelled the sales of e-axles. Incentives such as tax benefits and free parking space provided by governments of various countries encourage customers to purchase electric vehicles. This, in turn, is anticipated to increase the sales of electric vehicles, which in turn is likely to drive the pitman arms market for automotive. From a regional perspective, the Pitman arms market for automotive is categorized into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Of these, Asia Pacific is the dominant market for the automotive sector, wherein India, China, and Japan are the leading contributors, due to the increase in production of vehicles in these countries. This is expected to have positive impact on the demand for Pitman arms, which is projected to drive a large number of local and international component manufacturers based in the region.
Major players operating in the global pitman arms market for automotive are profiled in this report and these include Robert Bosch GmbH, ZF TRW Automotive Holdings Corp, ACDelco, Mevotech LP, Dorman Products, Inc., and Sankei Shimbun.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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