Torque Rod/Strut Market Assessment, By Product Type [Steel, Aluminum, Brass, Zinc, Alloy, Iron], By Vehicles [Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, and Others], By Torque Rod Type [Adjustable Torque Rods, Fix Torque Rod, Pa

Torque Rod/Strut Market Assessment, By Product Type [Steel, Aluminum, Brass, Zinc, Alloy, Iron], By Vehicles [Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, and Others], By Torque Rod Type [Adjustable Torque Rods, Fix Torque Rod, Panhard Torque Rod, Truck Torque Rod, Heavy Torque Rod], By Application [Front Suspension, Rear Suspension, Sub Frame Mounting], By Region, Opportunities and Forecast, 2017-2031F

Global torque rod/strut market is projected to witness a CAGR of 5.84% during the forecast period 2024-2031, growing from USD 21.21 billion in 2023 to USD 33.4 billion in 2031. The rising adoption of electric vehicles, an increase in demand for high-performance automotive, smooth rides, and innovations in rod and torque design and materials drive the demand for torque rod/strut across the globe. In addition, the market players are advancing the manufacturing process coupled with enhancement in the design and materials of torque rods resulting in developed longevity and reliability. The trend of customization and modernization of vehicles create different market growth opportunities for market players to address the rising expectations of consumers. The rising concern about road and vehicle safety and an increasing integration of lightweight vehicles to improve safety are projected to foster the demand for torque rod/strut.

The economic development and increase in per capita income drive the demand for SUVs and crossovers. These vehicles are popular and heavier than usual cars, which puts more load on the suspension system. Torque rods/struts are significantly essential in managing the heavy weight of these vehicles to keep them stable on uneven roads. The automotive industry's growth and increasing integration of advanced safety features are projected to foster the need for torque rods/strut in the forecast period. Furthermore, the manufacturers are advancing the technologies of manufacturing, and introducing advanced torque rod/strut which offer thrilling driving experiences.

For instance, SEAT S.A. is offering high-performance MacPherson strut to provide a thrilling ride. In the passenger car domain, nearly 80% of vehicles use ‘MacPherson strut suspension’ on the front axle.

Rapid Adoption and Production of Electric Vehicles

With a rising concern about sustainability, an increase in disposable income, and advancement in manufacturing and design technologies, the demand for electric vehicles rises more significantly in developed and developing countries which further increases the demand for torque rod/strut. Torque rods/struts are essential in electric vehicles because it is capable of bearing high-moving torque throughout the braking acceleration to make the ride smoother for drivers and passengers. Also, the torque rod softens the vibration from the engine and restricts the motor roll. In addition, the manufacturing of torque rods is effectively done by making use of lightweight raw materials and an effective manufacturing process because EVs are heavier than other vehicles. Automakers integrate torque rods or struts for bearing high loads in electric vehicles. Therefore, the rapid production and adoption of electric vehicles positively drive global torque rod/strut market growth in the forecast period.

For instance, in December 2023, Maruti Suzuki announced the launch of first EV with a range of 550 km by March 2025. This EV is cost-effective and lightweight due to effective integration of torque rods.

Advancements in Torque Rod/Strut Influence Market Growth

The innovations and advancements in torque rod/strut create lucrative market growth opportunities for the market growth. The advancement in automotive and effective integration of torque rods/struts in the vehicles improve the ride quality. High-quality torque rod/strut is a cost-effective solution to the challenges with rubber bushing torque rod assemblies. In addition, vehicle innovations sometimes lead accessive noise issues whereas torque strut reliably withstands engine torques while offering efficient sound absorption features and preventing the engine within an automotive. Thereby, the automotive sector is characterized by technological innovation, high performance, and advanced manufacturing facilities, which leads to the demand for different automotive components, such as torque rods or struts, to remain cost-effective.

For instance, MOOG Advance Systems P Ltd. constantly advancing its suspension components such as strut mounts and others to improve vehicle dynamics, and reduce noise, for smoother, quieter driving.

Government Compliance Policies Drives the Demand for Torque Rod/Strut

Vehicle and consumer safety is important for automakers and government agencies. Torque rod/strut offers all-inclusive safety for the consumer and vehicle by reducing vibrations, maintaining proper alignment of the suspension system, and improving stability on uneven roads. Therefore, governments globally advise all manufacturers to test the vehicles before delivering them to consumers. Effective integration of torque rod/strut enhances the overall performance of vehicles. The government also provides different incentives to promote the manufacturing of cars with all the advanced safety features installed in them. Torque rods efficiently support the heavy weight of vehicles and make them stable on unpaved and uneven roads.

For instance, in January 2024, The Ministry of Heavy Industries announced that the PLI Scheme for Automobile and Auto Components was extended by one year with partial amendments. This scheme offers financial incentives to increase domestic production of Advanced Automotive technology products.

Aluminum Torque Rod/Strut Dominates the Torque Rod/Strut Market

Aluminum torque rod/strut dominates the market due to an increase in demand for lightweight vehicles, and a rise in the integration of highly durable materials in a vehicle. Companies in the automotive industry are also working on decreasing vehicle weight to improve performance and efficiency. The rising concern about consumer safety and government policies on lightweight vehicles have compelled manufacturers to utilize aluminum torque rod/strut increasingly. Thereby, the demand for aluminum torque rod/strut propels across the globe in the forecast period. In addition, companies are introducing new product lines to introduce different components of vehicles and establishing research and development centers to ensure the effective usage of sound and vibration absorption components such as torque rod/strut, remains robust.

For instance, in January 2023, ZF Aftermarket introduced more than 770 new parts including torque rod/strut parts for passenger cars in North America to support semi-automated vehicles, internal combustion, hybrid, and fully electric vehicles.

Asia-Pacific Region Dominates the Torque Rod/Strut Market

Due to increasing demand for vehicles, increase in per capita income, economic development, and growing production of vehicles in emerging markets, demand for suspension components is also increasing. The trend of modernization and personalization in developing countries of the Asia-Pacific region propels the need for torque rods because it is an important component in preventing vehicles from rolling and swaying. Also, automakers in APAC torque rod/strut are investing increasingly in different research and development activities to advance existing technologies, and manufacturing processes to enhance the quality and performance of torque rod/strut. In addition, electric motors produce substantial torque as they begin operating, and this torque is distributed distinctly compared to internal combustion engines. Hence, torque rods personalized for EVs must address these distinct requirements, including managing torque distribution and reducing vibrations from the motor. This leads to the creation and adoption of specialized torque rods for EVs which in turn fuels market expansion.

For instance, Fujian Toly Auto Parts Co., Ltd. offers a variety of products including axle rods, torque rods, torque bush, and others across China as well as other countries. They offer their products specifically for heavy truck manufacturers to make them lightweight.

Future Market Scenario (2024–2031F)

The introduction of new lightweight electric vehicles is projected to drive the demand for torque rod/strut across the globe.

Manufacturers are investing in advancing raw materials and helping automakers improve the functioning of automotive torque rods.

Increasing demand for racing cars and heavy commercial vehicles, and the rising trend of modernization are projected to drive the demand for torque rods.

Safety and comfort demand advanced suspension systems, introducing different market growth opportunities for torque rod manufacturers.

Key Players Landscape and Outlook

Key participants in the torque rod/strut market are prioritizing high-performance products, durability, reliability, and quality to address stringent safety standards. This allows them to gain a competitive advantage by offering consumer satisfaction through effective torque rod/strut offerings. In addition, companies are continuously developing and innovating different advanced technologies to enhance the efficiency and performance of torque rod/strut. Also, companies in the automotive industry are adopting strategies of expansion such as collaboration, new product development, partnership, joint venture, and others to influence the production of different automotive parts , propelling the growth of the torque rod/strut market.

Dorman Products Inc., offers high-performance and tested torque strut/rod to provide reliable replacement for the original equipment on specific vehicles and planning to launch cost-effective products to expand its footprint.

Megan Racing Inc. is providing cost-effective products such as torque rods to automakers to isolate and dampen the noise and vibration from passenger cars.