According to a new market report published by Lucintel, the future of the global automotive suspension market looks promising with opportunities in the passenger car, light commercial vehicle and heavy commercial vehicle segments. The global automotive suspension market is expected to reach an estimated $57.6 billion by 2027 and it is forecast to grow at a CAGR of 4.8% from 2021 to 2027. The major drivers of growth for this market are increasing vehicle production, increasing need for improved ride quality, and the growing demand for advanced safety and convenience systems.
Browse 110 market data tables and 139 figures spread through 209 pages and in-depth TOC on “Global Automotive Suspension Market"
By vehicle type, small cars, mid-size cars, compact cars, large cars, SUVs and crossovers, MPVs, pickups, and heavy commercial vehicle are the major segments of the automotive suspension market. On the basis of its comprehensive research, Lucintel forecasts that the compact car and large car segment will show above average growth during the forecast period.
By system, passive suspension system, active suspension system, and semi-active suspension system are the major segments of the automotive suspension market. Passive suspension system is the largest segment but active suspension system is expected to grow faster as it works by constantly sensing changes in the road surface and feeding the information through ECU to the outlying components. Thus these components help in adjusting shock stiffness and spring rates thereby improving ride comfort, which results in increasing safety and comfort of the passengers
By end user, OEM and aftermarket are the major segments of the global automotive suspension market. OEM is expected to remain the largest segment due to increasing automotive production and increasing demand for lightweight suspension components during the forecast period.
Steel, composites and other materials are used in the global automotive suspension market. Steel is used globally by automakers so as to achieve desired strength at an economical price.
APAC is expected to remain the largest region and register the highest growth rate due to higher vehicle production, increasing government regulations for safety and security, and consumer demand for improved suspensions during the forecast period.
Emerging trends, which have a direct impact on the dynamics of the industry, include the development of lightweight suspensions, the introduction of electronic suspension technology, and the introduction of energy recovery suspension systems. Benteler International, Tenneco, ZF Friedrichshafen, KYB Corporation, Magneti Marelli, Mando Corporation, Sogefi Group, Rassini, NHK Spring, and ThyssenKrupp are the major suspension suppliers in the global automotive suspension market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive suspension market by vehicle type, system type, damping type, end user, material type, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Automotive Suspension Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global automotive suspension market by vehicle type, system type, damping type, end user, material type, and region, as follows:
Automotive Suspension Market by Vehicle Type [Value $ Billion from 2016 to 2027]:
•Small Cars
•Compact Cars
•Mid-Size Cars
•Large Cars
•SUVs and Crossovers
•MPVs
•Pickups
•Heavy Commercial Vehicles
Automotive Suspension Market by System [Value $ Billion from 2016 to 2027]:
•Passive Suspension System
•Active Suspension System
•Semi-Active Suspension System
Automotive Suspension Market by Damping Type [Value $ Billion from 2016 to 2027]:
•Hydraulic Suspension
•Air Suspension
•Leaf Spring Suspension
•Others
Automotive Suspension Market by End User [Value $ Billion from 2016 to 2027]:
•OEM
•Aftermarket
Automotive Suspension Market by Material Type [Value $ Billion 2021 and $ Billion 2027]:
•Steel
•Composites
•Others
Automotive Suspension Market by Region [Value ($ Billion) and Volume (Million Units) from 2016 to 2027]:
•North America
oUnited States
oCanada
oMexico
•Europe
oGermany
oFrance
oUnited Kingdom
oItaly
oSpain
•APAC
oJapan
oChina
oIndia
•ROW
oBrazil
This 209-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/automotive-suspension-market.aspx or write us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the automotive suspension market by vehicle type (small car, compact car, mid-size car, large car, SUV and crossover, MPV, pickup, and heavy commercial vehicle), by system (passive suspension system, active suspension system, and semi- active suspension system), by damping type (hydraulic suspension, air suspension, leaf spring suspension, and others), end user (OEM and aftermarket), by material type (steel, composites, and others) and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?