Global Automotive Anti-Roll Bar Market - 2024-2031

Overview

Global Automotive Anti-Roll Bar Market reached US$ 985.0 Million in 2023 and is expected to reach US$ 1,477.6 Million by 2031, growing with a CAGR of 5.2% during the forecast period 2024-2031.

The upgradation of automotive safety norms in developed countries will be a key factor in driving market growth during the forecast period. Governments in North America and Europe are rolling out 'future-proof' regulations, which will cover the current ongoing transition towards electric and hybrid vehicles. It will give a chance to automakers to develop and test new designs and materials for anti-roll bars.

Poor design and manufacturing quality in developing markets will create challenges for global market growth during the forecast period. In developing markets, there is a bigger incentive to keep costs down by using second-rate materials and outdated production techniques. Without

Dynamics

Expansion of Global Automotive Production

According to the latest data from the International Organization of Motor End-User Manufacturers (OICA) nearly 93.5 million passenger and commercial vehicles were produced in 2023, representing a 10% increase from 2022. The global automotive industry has recovered remarkably well from the effects of the COVID-19 pandemic. The maturation and growing popularity of electric vehicles accounts for a significant chunk of global automotive production.

Automotive manufacturers are currently focused on reducing vehicle weight and are hence, adopting more lighter steel alloys and aluminum frames. A similar change is underway in the design of anti-roll bars, with hollow body type being preferred by automotive engineers. A rise in consumer confidence, especially in emerging markets, is leading to a surge in demand for new vehicles, which will augment demand for automotive anti-roll bars.

Integration of New Automotive Technologies into Motorsports

Motorsports provide tangential financial incentives to automakers. It serves as both a research and development program and an advertising platform for many automakers, enabling them to simultaneously develop and test new technology while bragging about their performance in contrast to other producers. New technological advances also makes motorsports more thrilling, which increases viewership and increases sponsorship.

With the possible exception of MotoGP, which involves competitive motorcycle racing, almost all other forms of motorsports mandate the installation of an anti-roll bar as a critical safety feature. As automakers incorporate newer technological advances to improve motorsports, anti-roll bar design and features will also be updated to keep pace with changing conditions.

High Cost of Regulatory Compliance

In recent years, there have been instances of substandard anti-roll bars being installed in passenger cars which have caused permanent disability and even death to drivers in accidents. The problem is particularly severe in developing countries, were regulatory norms are lax or not strictly enforced and corruption, which allows automakers to bypass regulations altogether. Governments have cracked down on automotive industry malpractices and have instituted stricter regulations on vehicular safety, in line with current global standards.

In order to safely incorporate these safety feature upgrades, vehicle manufacturers have had to significantly raise the prices of their models. It has subsequently impacted sales, since consumers in most developing countries are highly price-sensitive.

Segment Analysis

The global automotive anti-roll bar market is segmented based on product, end-user and region.

Passenger Cars will Continue to Have the Dominant Market Share

With the global automotive industry increasingly switching over to hybrid and electric vehicles, the demand for anti-roll bars to comply with tightened safety regulations will increase significantly. The Volkswagen Group has announced a shift towards an all-electric portfolio by 2035, similarly, Toyota, which was highly skeptical of EVs, has begun developing its own EV models. The growth of EVs will be augment demand for anti-roll bars.

Demand will also increase in the light and heavy commercial vehicle segments. Although the global production of commercial vehicles is much smaller than passenger cars, ongoing efforts to decarbonize public transportation has created major interest in electric and hydrogen-powered buses. Commercial vehicles will have a rather smaller share of the global market.

Geographical Penetration

Asia-Pacific Will Remain the Largest Market During the Forecast Period

According to the most recent OICA data, Asia-Pacific countries account for nearly 58% of the global production of passenger and commercial vehicles. China, Japan, India and South Korea are some of the leading automotive producers in the region. With China rapidly scaling up the exports of electric vehicles, the demand for automotive anti-roll bars is likely to appreciate significantly during the forecast period.

Another major factor that could accelerate demand the forecast period is the increasing popularity of 'China + 1' strategy pursued by multinational automotive companies looking to de-risk their supply chains away from China. Vietnam has received a major influx of investment in automotive production. Similarly, many automakers are gradually stepping up their production capacity in India, looking to turn the country into an export hub.

COVID-19 Impact Analysis

The COVID-19 pandemic created a period of uncertainty for the global automotive anti-roll bar market. Production of anti-roll bars was affected by pandemic lockdowns, due to supply chain disruptions and labor shortages. Demand for passenger and commercial vehicles alike underwent dramatic contraction in the initial phase of the pandemic.

The overall global automotive demand witnessed a steady recovery in the post-pandemic period, especially in emerging markets like India and China, which had huge pent-up demand. Despite slow growth due to global challenges emanating from the Russia-Ukraine war, the pandemic is not expected to affect the long-term growth prospects of the global market.

Russia-Ukraine War Impact Analysis

The war in Ukraine has created extremely difficult market conditions for the Russian automotive industry. Sanctions and trade embargoes have led to an exodus of western automotive brands, who sold their assets to the local Russian management. Automotive production fell drastically throughout 2022, before recovering to some extent in 2023. Only military vehicle production kept the demand for anti-roll bars afloat.

The Russian government has resorted to importing anti-roll bars through grey market channels. It has also rolled out incentives and policies to encourage domestic automotive component manufacturers to increase production. However, the lack of access to western technology will be detrimental to the Russian market in the future.

By Product

• Solid
• Hollow

By End-User

• Passenger Car
• Light Commercial End-User (LCV)
• Heavy Commercial End-User (HCV)

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In May 2024, Mercedes AMG, the high-performance vehicle division of Mercedes Benz, unveiled a new active control suspension, which takes support of the vehicle's anti-roll bar for better road control.
• In April 2024, Toyota, the Japanese multinational carmaker, launched the new Land Cruiser for U.S. and Canadian markets. The new model features a completely re-designed anti-roll bar along with several other improved safety features.

Competitive Landscape

The major global players in the market include Chuo Spring Co., Ltd., Heinrich Eibach GmbH, Farinia Group, Kongsberg Automotive, Muhr und Bender KG, NHK SPRING Co., Ltd, Schaeffler AG, Sogefi SpA, Thyssenkrupp AG and ZF Friedrichshafen AG.

Why Purchase the Report?

• To visualize the global automotive anti-roll bar market segmentation based on product, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of automotive anti-roll bar market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global automotive anti-roll bar market report would provide approximately 54 tables, 41 figures and 182 Pages.

Target Audience 2024

• Automotive Manufacturing Companies
• End-User Systems Manufacturers
• Automotive Regulatory Agencies
• Industry Investors/Investment Bankers
• Research Professionals