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November 5, 2020

Automotive Suspension Market Share Worldwide Industry Growth, Size, Statistics, Opportunities & Forecasts up to 2027

The Global Automotive Suspension Market is projected to reach around USD 77.5 billion by 2027 at a CAGR of around 4.3%.

Suspension system is an essential part of a vehicle which prevents damage to the vehicle components and provide safety and comfort while driving. Automotive suspension system consists of multiple components such as tires, springs, shock absorbers, linkages, struts, and others that attach the vehicle to its wheel and allows relative motion between wheel and vehicle body. The main function of this system is to separate the vehicle body from vibrations and shocks due to vehicle tires in contact of the road surface.

Automotive Suspension Market: Drivers & Restraint

Market Driver:

Rise in Demand for Safety and Comfort

Safety is a primary requirement in the automotive sector. Any safety failures may result in severe injury or loss of life. With the help of suspension systems even on rough roads a driver can ride the vehicle with comfort as it keeps the tires in contact with road, allows the vehicle to corner with minimum sway or roll and ensures satisfactory breaking power required. This helps in keeping the vehicle controlled during high speeds and avoid accidental situation.

Thus, the rise in demand for safety and comfort is expected to drive the automotive suspension market growth during the forecast period.

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Growing Vehicle Production

Growing vehicle production increases the demand for the number of suspension system required. Owing to growing population and rising per capita income along with favorable foreign direct investment is driving the demand for the vehicle production. For instance, in 2018, India, Malaysia, Thailand, Russia and among others are the prominent countries that have shown positive growth of 8%, 12.2%, 9%, 13.9%, respectively.

Thus, growing vehicle production is anticipated to boost the market growth during the forecast period.

Market Restraint:

High Cost of Suspension System

The initial cost of advanced suspension is high and in addition to it the operational, installation and frequent maintenance cost increases the overall expenditure of this system which acts as a restraint to the market growth. For instance, the initial price of air suspension is costly as it provides the smoothest and most stable driving experiences due to which it is only used for upscale vehicles such as high-end luxury cars and heavy-duty off-road vehicles.

Thus, the high cost of suspension system is a restraining factor for automotive suspension market growth during the forecast period.

Automotive Suspension Market: Key segments

  • Based on Suspension Type: Passive Suspension, Semi-Active Suspension, and Active Suspension.
  • Based on Actuation: Hydraulic Actuated Suspension and Electromagnetic Actuated Suspension.
  • Based on Components: Shocks & Struts, Control Arms, Suspension Bushings, Sway Bar, Coil Spring, Leaf Springs and Others.
  • Based on Vehicle Type: Passenger Cars, Light Commercial Vehicles (LCV) and Heavy Commercial Vehicles (HCV).
  • Based on Sales Channel: Original Equipment Manufacturer (OEM) and Aftermarket.
  • Based on Region Covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa, with individual country-level analysis.

Automotive Suspension Market: Report Scope

The report on the automotive suspension market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

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List of the leading companies operating in the Automotive Suspension Market include:

  • ZF Friedrichshafen AG (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • Tenneco Inc.
  • Continental AG
  • KYB Americas Corporation
  • Magneti Marelli CK Holdings Co., Ltd.
  • thyssenkrupp AG
  • Mando Corp.
  • NHK SPRING Co.,Ltd.
  • BENTELER
  • Sogefi SpA
  • Other Key Companies

Automotive Suspension Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Automotive Suspension Market, by Suspension Type

  • Passive Suspension
  • Semi-Active Suspension
  • Active Suspension

Automotive Suspension Market, by Actuation

  • Hydraulic Actuated Suspension
  • Electromagnetic Actuated Suspension

Automotive Suspension Market, by Components

  • Shocks & Struts
  • Control Arms
  • Suspension Bushings
  • Sway Bar
  • Coil Spring
  • Leaf Springs
  • Others

Automotive Suspension Market, by Vehicle Type

  • Passenger Cars
  • Light Commercial Vehicles (LCV)
  • Heavy Commercial Vehicles (HCV)

Automotive Suspension Market, by Sales Channel

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

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Automotive Suspension Market by Region

  • Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
  • North America (US, Canada, Mexico)
  • Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
  • Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
  • South America (Brazil, Argentina, Rest of South America)

Key Questions answered by the report

  • What are the prominent developments affecting the market globally and its growth?
  • What will be the impact of the developments in the market on the industry and the market players in the future?
  • What are the evolving variations of the market worldwide?
  • What are the evolving functions of the market globally?
  • What are the prominent aspects that will affect market growth globally during the study period?
  • Who are the key players operating in the market across the world?
  • How are the key players leveraging in the present market scenario globally?

Table of Content

  1. INTRODUCTION
    1. Research Objectives
    2. Market Definition
    3. Research Scope
    4. Regional Coverage
    5. Research Timeline
    6. Assumptions
    7. Limitations
  2. RESEARCH DESIGN & SCOPE
    1. Introduction
    2. Primary Research
      1. Key Industry Expert Insight
    3. Secondary Research
      1. Vital Data from Secondary Sources
    4. Market Size Estimation
    5. Data Validation & Triangulation
  3. EXECUTIVE SUMMARY
  4. MARKET DYNAMICS
    1. Introduction
    2. Drivers
      1. Rise in Demand for Safety and Comfort
      2. Growing Vehicle Production
    3. Restraint
      1. High Cost of Suspension System
    4. Opportunities
      1. Increasing Demand for Lightweight Suspension System
    5. Challenges
      1. Forged Suspension Products in Aftermarket
  5. INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
    1. Introduction
      1. Power of Buyers
      2. Power of Suppliers
      3. Intensity of Competition
      4. Challenges of Substitutes
      5. Challenges of New Entrants
    2. Macro-Economic Indicators
  6. AUTOMOTIVE SUSPENSION MARKET BY SUSPENSION TYPE, Market Size in USD Million and Units (2019-2027)
    1. Introduction
    2. Passive Suspension
    3. Semi-Active Suspension
    4. Active Suspension
  7. AUTOMOTIVE SUSPENSION MARKET BY ACTUATION, Market Size in USD Million and Units (2019-2027)
    1. Introduction
    2. Hydraulic Actuated Suspension
    3. Electromagnetic Actuated Suspension
  8. AUTOMOTIVE SUSPENSION MARKET BY COMPONENTS, Market Size in USD Million and Units (2019-2027)
    1. Introduction
    2. Shocks & Struts
    3. Control Arms
    4. Suspension Bushings
    5. Sway Bar
    6. Coil Spring
    7. Leaf Springs
    8. Others
  9. AUTOMOTIVE SUSPENSION MARKET BY VEHICLE TYPE, Market Size in USD Million and Units (2019-2027)
    1. Introduction
    2. Passenger Cars
    3. Light Commercial Vehicles (LCV)
    4. Heavy Commercial Vehicles (HCV)
  10. AUTOMOTIVE SUSPENSION MARKET BY SALES CHANNEL, Market Size in USD Million and Units (2019-2027)
    1. Introduction
    2. Original Equipment Manufacturer (OEM)
    3. Aftermarket
  11. AUTOMOTIVE SUSPENSION MARKET BY REGION, Market Size in USD Million and Units (2019-2027)
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. France
      3. Italy
      4. UK
      5. Russia
      6. Norway
      7. Rest of Europe
    3. Asia-Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of Asia-Pacific
    4. Middle East and Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of Middle East and Africa
    5. South America
      1. Brazil
      2. Argentina
      3. Rest of South America
  12. COMPETITIVE LANDSCAPE
    1. Introduction
    2. Market Ranking/Share Analysis of Key Companies
    3. Company Benchmarking
  13. COMPANY PROFILES
    1. ZF Friedrichshafen AG
      1. Company Overview
      2. Financial Overview
      3. Products/Solutions/Services Offered
      4. Key Developments
      5. SWOT Analysis
    2. Tenneco Inc.
    3. Continental AG
    4. KYB Americas Corporation
    5. Magneti Marelli CK Holdings Co., Ltd.
    6. thyssenkrupp AG
    7. Mando Corp.
    8. NHK SPRING Co.,Ltd.
    9. BENTELER
    10. Sogefi SpA
    11. Other Key Companies
  14. APPENDIX
    1. Key Industry Expert Insights
    2. Primary Discussion Guide
    3. Customization Options

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November 5, 2020, 13:05
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