Automotive Suspension Market size by top leading players, opportunities, revenue growth, trends, outlook and forecasts to 2023

The Global report on “Automotive Suspension Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.

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“Rising demand for comfort & luxury, increased fuel efficiency, decreased emission limits in upcoming regulations, and increase in vehicle production will together drive the automotive suspension market”

The global automotive suspension market is projected to grow at a CAGR of 3.88%, during the forecast period, from an estimated USD 50.76 billion in 2017 to USD 68.84 billion by 2025. With growing vehicle production; the demand for suspension system is projected to grow during forecast period. Alternatively, lack of standardization of independent suspension system and high cost of advanced suspension system are the key factors hindering the growth of the automotive suspension market.

“Automotive suspension market for Air Suspension is estimated to show the fastest growth in terms of value”

The market for air suspension systems is projected to grow at the fastest CAGR during the forecast period from 2017 to 2025. The factors such as increasing production of trucks, customer demand for cabin comfort, better control, maneuverability, and stability of the vehicle have led to an increase in the demand for air suspension systems. The demand for luxury buses primarily drives the market for air suspension. The air suspension system employed in buses ensures comfort for passengers and maintains the vehicle height at the desired level during the travel.

“Passive suspension segment is estimated to showcase the largest share in automotive suspension system market”

The passive system is projected to be the largest segment of the automotive suspension market, by system. The passive suspension system is equipped in all kind of architectures such as MacPherson, double wishbone, twist beam, and leaf spring. Majority of the present-day vehicles are equipped with this type of suspension systems as they are easy to install, repair, and economical than the semi-active and active systems. Hence, passive systems are contributing the most in all vehicle types, mainly LCVs and HCVs. Asia Oceania region is the largest market for passive suspension as most of the vehicles in this region have technologically less advanced suspension systems.

“Asia Oceania to dominate the aftermarket growth”

Asia Oceania is estimated to dominate the automotive suspension after market during the forecast period. It is the largest as well as the fastest growing market. The Asia Oceania region comprises of emerging economies such as China and India along with developed economies such as Japan. Asia Oceania is the largest producer of economical cars in the world. Asia Oceania region is expected to show maximum usage of aftermarket components as the road infrastructure is not good, which can damage the suspension system components and increase the need for replacement. However, with the improving quality, durability, and road infrastructure, the demand for aftermarket components will show stagnant growth in future

The study contains insights provided by various industry experts. The break-up of the primaries is as follows:

  • By Company Type: Tier-1 – 45%, Tier-2 – 40%, and OEM- 15%
  • By Designation: D level –60%,C level – 20 % Other- 20%
  • By Region: North America – 35%, Europe – 26%, Asia Oceania–25%, RoW – 14%

Note: Others includes sales managers, marketing managers, and product managers

The company tiers are based on the value chain; the revenue of the company has been not considered

Tier I are the manufacturers of suspension systems, whereas Tier II are the suppliers of components.

The key companies profiled in the study are as ZF (Germany), Tenneco (US), KYB (Japan), Continental (Germany), Magneti Marelli (Italy), Mando (South Korea), NHK Spring (Japan), ThyssenKrupp (Germany), Sogefi (Italy), and Benteler (Austria).

Research Coverage

The suspension market is segmented by architecture (Macpherson strut, double wishbone, multilink suspension, twist beam/torsion beam suspension, leaf spring suspension, air suspension), system type (passive suspension, semi-active suspension, active suspension), actuation (hydraulically actuated suspension, electronically actuated suspension), component (coil spring, leaf spring, air spring, shock absorber, control arm, rubber bushing, link stabilizer/sway bar, ball joint, strut), automotive suspension aftermarket, by component aftermarket (shock absorber, strut, ball joint, leaf spring, control arm, coil spring), vehicle type (passenger car, light commercial vehicle (LCV), truck, bus), electric & hybrid vehicle (battery electric vehicle (BEV), hybrid electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV), fuel cell electric vehicle (FCEV)), region(Asia Oceania (China, India, Japan, South Korea, Rest Of Asia Oceania), Europe (Germany, France, UK, Spain, Italy, Rest Of Europe), North America (US, Mexico, Canada), Rest Of The World (Row) (Brazil, Russia, Others)    

Reasons to Buy the Report:

This report provides insights with reference to the following points:

  • Market Size, by Architecture: The report offers in-depth market sizing and forecast up to 10 years (2025), by architecture such as Macpherson strut, Double Wishbone, Multilink Suspension, Twist Beam/Torsion Beam Suspension, Leaf Spring Suspension, and Air Suspension.    
  • Market Size, by Component Aftermarket: The report offers in-depth market sizing and forecast up to 10 years (2025), by component aftermarket such as coil spring, leaf spring, shock absorber, strut, ball joint, and control arm.
  • Market Size, by active suspension actuation: The report offers in-depth market sizing and forecast up to 10 years (2025), by active actuation such as hydraulically actuated and electronically actuated.
  • Market Development: The report provides comprehensive information about lucrative emerging markets. The report analyzes the markets for automotive suspension across regions.
  • Product Development/Innovation: The report gives detailed insights into R&D activities, upcoming technologies, and new product launches in the automotive suspension market.
  • Market Diversification: The report offers detailed information about untapped markets, investments, new products, and recent developments in the automotive suspension market.

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