Steering Tie Rod Market Report 2026

The steering tie rod market size has grown strongly in recent years. It will grow from $16.52 billion in 2025 to $17.5 billion in 2026 at a compound annual growth rate (CAGR) of 6%. The growth in the historic period can be attributed to expansion of global vehicle parc, growth of passenger and commercial vehicle production, rising demand for replacement steering components, widespread use of rack and pinion systems, improvements in material engineering.

The steering tie rod market size is expected to see strong growth in the next few years. It will grow to $21.69 billion in 2030 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to increasing electrification of steering systems, rising demand for precision steering components, expansion of autonomous vehicle platforms, growing focus on extended component lifespan, increasing integration of advanced suspension systems. Major trends in the forecast period include increasing adoption of advanced steering systems, rising demand for lightweight tie rod materials, growing focus on vehicle safety and stability, expansion of aftermarket replacement demand, improved durability and corrosion resistance.

Increasing automotive production is expected to drive the growth of the steering tie rod market. Automotive production, which involves manufacturing vehicles from raw materials to finished products, is rising due to growing global demand, technological advancements, and expanding markets. Steering tie rods are crucial components that connect the steering rack to the steering knuckle, enabling controlled vehicle steering. For instance, in September 2024, according to the Japan Automobile Manufacturers Association, worldwide motor vehicle production (excluding motorcycles) reached 93.55 million units in 2023, a 10.3% increase from the previous year. Therefore, the growth in automotive production is boosting the steering tie rod market.

Major companies in the steering tie rod market are focusing on expanding their product offerings, such as steering and suspension parts, to improve product coverage, safety, and durability while meeting the increasing demand for high-quality components. For example, in June 2024, DRiV Incorporated, a U.S.-based automotive parts supplier, announced a major expansion of its Monroe Steering and Suspension range, adding 750 new part numbers. This expansion increases coverage by 20%, demonstrating the brand’s commitment to safety, durability, and reducing product returns. The new parts, designed for popular late-model vehicles, feature advanced materials, anti-corrosion coatings, and rigorous testing to meet original equipment standards, further enhancing product quality.

In July 2024, TorQuest Partners, a Canada-based private equity firm, acquired Mevotech L.P. for an undisclosed amount. This acquisition aims to support the next growth phase for Mevotech, a North American leader in engineering and designing driveline, steering, and suspension parts for the automotive aftermarket. Mevotech L.P. is a Canada-based company specializing in durable, high-performance automotive aftermarket components.

Major companies operating in the steering tie rod market report include ZF Friedrichshafen AG, TRW Automotive, Moog Inc., CTR Corporation, HL Mando Corp, Federal-Mogul Corporation, Sankei Industry Co. Ltd., Teknorot Automotive Inc., Dorman Products, Mevotech, ACDelco, Beck Arnley, First Line Ltd., Ferdinand Bilstein (Bilstein Group), Optimal AG & Co. KG, Crown Automotive Sales Co. Inc., Bosch Group, Schaeffler Technologies AG & Co. KG, NSK Ltd., Centric Parts, Ingalls Engineering Co., Synergy Manufacturing Inc., APA Industries Inc., BorgWarner Inc., Beck/Arnley Worldparts Inc.

North America was the largest region in the steering tie rod market in 2025. The regions covered in the steering tie rod market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the steering tie rod market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The steering tie rod market consists of sales of adjustable tie rods, non-adjustable tie rods, and ball-joint tie rod ends. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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