The Global Automotive Suspension Market is Expected to Reach an Estimated $79.0 Billion by 2023
Trends, opportunities and forecast in automotive suspension market to 2023 by vehicle type (passenger car, light commercial vehicle, 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, APAC, and ROW)
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 $79.0 billion by 2023 and it is forecast to grow at a CAGR of 5.3% from 2018 to 2023. The major drivers of growth for this market are increasing vehicle production, increasing need for improved ride quality, and the growing demand for advanced safety and convenience systems.Emerging trends, which have a direct impact on the dynamics of the automotive suspension industry, include the development of lightweight suspensions, the introduction of electronic suspension technology, and the introduction of energy recovery suspension systems. A total of 139 figures/charts and 110 tables are provided in this 209 - page report to help in your business decisions. The study includes the automotive suspension market size and forecast for the global automotive suspension market through 2023, segmented by vehicle type, system type, damping type, end user, material type, and region, as follows:
Automotive Suspension Market by Vehicle Type ($ Billion from 2012 to 2023)
- Passenger Car
- Small Car
- Compact Car
- Mid-Size Car
- Large Car
- Light Commercial Vehicle
- SUVs &Crossovers
- MPVs
- Pickups
- Heavy Commercial Vehicle
- Passive Suspension System
- Active Suspension System
- Semi-Active Suspension System
- Hydraulic Suspension
- Air Suspension
- Leaf Spring Suspension
- Others
- OEM
- Aftermarket
- Steel
- Composites
- Others
- North America
- Europe
- Asia Pacific
- The Rest of the World
Some of the automotive suspension companies profiled in this report include Benteler International, Tenneco Inc., ZF Friedrichshafen AG, KYB Corporation, and Magneti Marelli S.p.A and others.
On the basis of its comprehensive research, Lucintel forecasts that the passenger 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.
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.
Some of the features of “Automotive Suspension Market Report: Trends, Forecast and Competitive Analysis” include:
- Market size estimates: Global automotive suspension market size estimation in terms of value ($B) shipment.
- Trend and forecast analysis: Market trend (2012-2017) and forecast (2018-2023) by segments and region.
- Segmentation analysis: Global automotive suspension market size by various applications such as vehicle, system, damping, end user, and material in terms of value and volume shipment.
- Regional analysis: Global automotive suspension market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth opportunities: Analysis on growth opportunities in different applications and regions of automotive suspension in the global automotive suspension market.
- Strategic analysis: This includes M&A, new product development, and competitive landscape of automotive suspension in the global automotive suspension market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
Q.1. What are some of the most promising, high-growth opportunities for the automotive suspension market by vehicle type (passenger car, light commercial vehicle, 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 automotive suspension market?
Q.5. What are the business risks and competitive threats in this automotive suspension market?
Q.6. What are the emerging trends in this automotive suspension market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the automotive suspension market?
Q.8. What are the new developments in the automotive suspension market? Which companies are leading these developments?
Q.9. Who are the major players in this automotive suspension market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this automotive suspension 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 automotive suspension industry?
Table of Contents
1. Executive Summary
*Full List of Tables and Figures Available on Enquiry.
Samples
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Companies Mentioned
- Benteler International
- KYB Corporation
- Magneti Marelli S.p.A
- Mando Corporation
- NHK Spring Co., Ltd.
- Rassini
- Sogefi Group
- Tenneco Inc.
- ThyssenKrupp AG
- ZF Friedrichshafen AG
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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