Recent research: Sway Bar Market highly favorable to the growth rate by 2027
Author : Ajaykumar Patil | Published On : 22 Sep 2021
Sway Bar Market: Introduction
A sway bar is a part of vehicle suspension system that helps in reducing the body roll of the vehicle while fast cornering or during times of driving on rough roads, which leads to increased comfort while driving the vehicle. Sway bar links opposite left and right wheels together using short lever connected by a torsion spring. The sway bars are connected to the vehicle’s suspension via the stabilizer links.
The motive of the sway bar is to force both sides of the vehicle to raise or lower to equal heights in order to decrease the rolling of the vehicle on road bends. Previously vehicles didn’t come fitted with sway bars, but with time, most of the vehicles came fitted with sway bars. Some vehicles consist of just one sway bar whereas some vehicles come with both front and rear sway bars.
The sway bars that are currently used globally are called as active sway bars. Sway bars mainly provide two functions, first is the decrease in the body lean, second, is to adjust the handling of the vehicle. The sway bars are adjustable, most of them can be adjusted when the vehicle is stationary, whereas some sway bars can be adjusted even when the vehicle is in motion.
The sway bars are generally made of 4140 Chromoly Steel. The manufacturing process includes cutting the steel to the desired length. They are then heated for forging at 1600 degrees. Coining is used to flatten the side of the bar and then holes are punched where the end links are attached to connect it to the suspension. The bar is then moved to other presses to get the desire bends.
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Sway Bar Market: Market Dynamics
Automotive industry being the prime user of sway bar, the increase in vehicle production and sales tends to enhance the demand for sway bars. All the vehicles that are on the road are fitted with one or two sway bars. Goods transportation, increase in construction activity, e-commerce, personal transport, etc. are resulting into the growth of the global sway bar market. Moreover the used car market is on the rise and most of these cars require various parts to be replaced. This leads to increase in instances of sway bars to be replaced.
The possibility of restraint in the growth of sway bars is minor. The decrease in the production of automobiles and the decrease in the demand in the aftermarket are currently the only foreseeable factors causing restraints in the sway bar market. The high price of active sway bar is also a restraint as it is three times costlier than the conventional sway bar and limited to luxury or premium vehicles.
Current market trends include the use of active sway bars, active sway bars can change stiffness as per the type of roads or surface that the vehicle is moving on. However, there are instances where the use of active sway bars is not beneficial. In such scenarios, Electronically-disconnecting sway bars are used. These temporarily stop the sway bars from working, to let the tires move freely.
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Covid-19 pandemic has had a negative impact on the manufacturing sector, causing delays in production and supply chain cycles, and the automotive industry is no exception. In the first half of the fiscal year, decreased output performance and disruptions in the component supply chain were clearly visible. Automobile sales, on the other hand, increased in the second quarter of 2020 compared to the first, with demand growth returning to a sustainable pace. With low to moderate sales of the commodity in regional markets, the turnaround for sway bars demand growth is likely to take a long time. After unlock activities started sway around world post to the stringent lockdown the global sway bar market is expected to increase by 2021.
Sway Bar Market: Market Segmentation
The sway bar market is segmented on the basis of design type, product type, vehicle type and sales channel.
?On the basis of design type, the global sway bar market is segmented into the following
On the basis of product type, the global sway bar market is segmented into the following:
- Active Sway Bar
- Passive Sway Bar
On the basis of vehicle type, the global sway bar market is segmented into the following:
- PC (Passenger Cars)
- LCV (Light Commercial Vehicles)
- HCV (Heavy Commercial Vehicles)
On the basis of sales channel, the sway bars market is segmented into the following:
- Original Equipment Manufacturer (OEM)
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Sway Bar Market: Regional market outlook
It is projected that Asia Pacific region will be dominating the sway bar market over the forecasted time period. The countries like India, Japan, South Korea and China are expected to be the key contributor to the growth of the sway bar market in this region owing to the fact that there is a high presence major automotive manufacturers in these countries. The factors that are expected to contribute to the growth of sway bars in this region are; growth in the respective automotive industries in these countries and the increasing demand for vehicles. Europe and North American sway bar markets are expected to follow the Asia Pacific market. A country like Russia, which is a part of Europe is looking to expand in automotive market, hence this factor is expected to lead into eventual growth of the sway bar market in this region. Latin America and Middle East Africa are expected have a sluggish market owing to the lack of manufacturers and slow growth of automotive industry in these regions.
Sway Bar Market: Segmental Overview
The demand for comfort and stability from passenger car customers is on the rise, this has ultimately led to increasing demand for sway bar market in this segment. The demand for passenger car is expected to increase. One reason for this is the fact that people are preferring to use personal vehicles during the ongoing pandemic over public transport. This has resulted into eventual increased market for sway bars.
In terms of design, solid sway bars are expected to be the most common form of sway bar. Solid sway bars are simpler to manufacture, more capable in the long run, and provide more rigidity than hollow sway bars. Since manufacturers seldom produce hollow sway bars for vehicles, the demand for solid sway bars has risen.
Sway Bar Market: Analyst perspective
The sway bar market is experiencing a significant growth trend owing to the contributing factors like the projected growth of the automotive industry in Asia Pacific and the increased demand for comfortable and stable vehicles. Major manufacturers are trying to find out ways in which sway bars can be made in cost efficient ways which has paved way to increased production of solid sway bars. The aftermarket segment is also expected to be on the rise resulting into increased demand for spare parts including sway bars.
Sway Bar Market: Key market players
Some of the key market players in the global sway bar market, identified across the value chain include:
- ZF Friedrichshafen AG
- CARROSSER Co. Ltd.
- Sikky Manufacuring
- Hellwig Products Company, Inc.
- Tanabe USA Inc.
- Whiteline USA
- ADDCO Manufacturing Company, Inc.
- Swaytec Co. Ltd.
- Nengun Co. Ltd.
- TSL Turton Ltd.
- Alta Performance
- Superpro Europe Ltd.
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