Global Pitman Arms Market size was valued at US$ XX Mn in 2019 and expected to reach US$ XX Mn by 2019 at a CAGR of 6% during the forecast period.

The Global Pitman Arms market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The Global Pitman Arms report also provides trends by market segments, technology, and investment with a competitive landscape.

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Global Pitman Arms Market Overview:

Pitman arms are used as a basic transmission component in the steering wheel mechanism of vehicles. Pitman arms are used to convert the angular motion of the shaft into linear motion used to steer the vehicles into the desired position. Drag link, ball joint, and idler arm are the main components of the pitman arm system. The drag link transfers the motion from the steering box to the central link which causes it to move in the left and right direction. The idler arm is used to hold the drag link in its position.

Increase in commercial vehicle production and hence increasing sales of the vehicles across the emerging economies across the globe are the factors considered to drive the pitman arms market growth. Moreover, increasing consumer preference towards SUV’s and sedan cars owing to their durability and high scale performance is the key supporting factor considered to drive the pitman arms market during the forecast period.
Global Pitman Arms Market Dynamics:

Easy installation of the pitman arm system and increasing demand for commercial vehicles in the manufacturing and transportation sector across the globe are the factors considered to drive the pitman arm market growth. Furthermore, increasing development in the steering system owing to the demand for low-cost system for vehicles are the supporting factors driving the Pitman Arms market growth during the forecast period.

Increasing adoption of rack and pinion type of the steering system is the key restraining factor for the pitman arm market because rack and pinion type arrangement does not need any linkages as it works on gears and pinion type system. Furthermore, increasing raw material cost for Steel alloys and Iron and high import charges on above mentioned materials increase the demand for low cost and corrosion-resistant materials is the factor expected to create opportunities in the Pitman Arms market. Increasing use of carbon composites as an alternative for high carbon steel alloys is the factor expected to boost the pitman arms market growth opportunities during the forecast period.
Global Pitman Arms Market Segment Analysis:

Commercial vehicles are dominating the Pitman Arms market:

Commercial vehicles were accounted for approximately increasing consumer demand for commercial vehicles owing to increasing use of heavy commercial vehicles in the transportation sector and manufacturing industry are the factors attributing pitman arms market growth across the globe. Furthermore, commercial vehicles manufacturers are still relying on pitman arms system of steering wheels for its high output to power ratio and easy adoption in heavy and light commercial vehicles.

According to Daimler Corporation, commercial vehicle sales are increased by 18% from the year 2019-2021 accounted for approximately 68% market share in 2019 owing to the increasing rate of production post-pandemic and high withstanding ability of commercial vehicles for a long period of time.

Use of Carbon composite in Pitman Arms market:

Carbon composites are gaining popularity as the replacement for metals used in the pitman arms system. High corrosion resistance and improved work dynamics of the steering mechanism are the factors attributing market growth of the carbon composite segment. Weight transfer is the main issue considered while manufacturing a steering mechanism and mechanical linkages should withstand the immense movement of the steering and wear and tear along with them. Wearing of mechanical linkages causes accidents on higher scales and therefore, carbon composites are being used nowadays to avoid the probable linkage failure.

According to National Road and Safety Organization, failure of steering system is the second most common cause of accident and accounts for approximately 32% accidents per year across the globe.
Impact of COVID pandemic on the Pitman Arms market:

COVID pandemic is expected to pose a low to moderate impact on the Pitman Arms market owing to the effects of a pandemic on the research and manufacturing activities across the globe. Strict government norms and increasing cost of transportation owing to supply chain distortion and lowering of manufacturing activities are the factors considered to slightly declining the market growth of automotive condensers. The market is expected to expand during the forecast period owing to increasing demand in the supply chain and various commercial activities pick up the speed.

According to Western Star Trucks, Pitman Arms market was valued at approximately 3 billion USD in year 2019 and expected to register CAGR of approximately 6% during the forecast period owing to increasing demand for high power steering system with high dependability.

Electric vehicles are anticipated to drive the pitman arm market:

Battery electric vehicles and plug-in type hybrid vehicles are the growing consumers for the pitman arms market with revenue share of approximately 600 million USD in the year 2019. Increasing adoption of electrical vehicles across the globe and use of electronic axles in the system are the factors attributing growth in the electric cars segment. Electronic axles are battery-operated linkages that are used directly to transfer the power from pitman arms to the steering mechanism with the use of batteries and E transfer mechanism.

Global electric cars sales are anticipated to increase approximately 45% during the forecast period owing to increasing adoption of electric vehicles in the automotive manufacturing industry and increasing environmental concerns across the globe.

Also, various tax benefits imposed on electric cars by various governments across the globe is the key supporting factor driving the electric cars and thereby pitman arms market growth during the forecast period.
Global Pitman Arms Market Regional Insights:

The Asia Pacific is the dominating as well as fastest-growing region in the market with 45% of total revenue share in the Pitman Arms market registering approximately 4.9% CAGR in the year 2019. Factors attributing to market growth in the region are highly developed manufacturing industry infrastructure and a high working population in the manufacturing sector. Moreover, the increasing use of heavy commercial vehicles in the transportation sector and production industries are the factors expected to drive the market growth of the region during the forecast period. India is the largest manufacturing economy in the region with approximately 57% market share along with China and Japan.

North America and Europe are the second dominating regions in the Pitman Arms market with approximately 30% market share. Factors attributing growth in the market are increasing disposable income of consumers and increasing focus of key players on automation and increasing investments in research and development in the region for high product integration. The USA accounts for approximately 40% market share in the region along with Canada and Mexico.

The objective of the report is to present a comprehensive analysis of the Global Pitman Arms Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global Pitman Arms Market dynamics, structure by analyzing the market segments and project the Global Pitman Arms Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence in the Global Pitman Arms Market make the report investor’s guide
Global Pitman Arms Market Scope:
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Global PITMAN ARMS Market, by Region

• North America
o US
o Canada
o Mexico
• Europe
o U.K
o France
o Germany
o Italy
o Spain
o Sweden
o CIS Countries
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o South Korea
o Australia
o ASEAN
o Rest of Asia Pacific
• Middle East and Africa
o South Africa
o GCC Countries
o Egypt
o Nigeria
o Rest of MEA
• South America
o Brazil
o Argentina
o Rest of South America
Global PITMAN ARMS Market Key Players

• ACDelco
• Robert Bosch GmbH
• Mevotech LP
• ZF TRW Automotive Holdings Corp.
• Dorman Products Inc.
• MOOG
• Driveworks
• Omix-Ada
• Rare Parts
• Powercraft
• Moper International
• OES Genuine
• Rein
• Original Equipment
• Skyjacker
• Senkei Shimbun

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