Automotive Suspension Market to reach $64,050 million in 2021

Stratview Research has published a new research report on Automotive Suspension Market. This extensive 386-page report by Stratview Research analyses the growth of Automotive Suspension Market over the trend period of 2010 to 2015 and forecast period of 2016 to 2021 under the following segments -
• By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium- and Heavy-Duty Commercial Vehicle)
• By System Type (Passive Suspension System, Semi-Active Suspension System, Active Suspension System, Air Suspension System)
• By Architecture Type (Dependent, Semi-Independent / Independent)
• By Component Type (Coil Spring, Leaf Spring, Air Spring, Shock Absorber, Strut, Control Arm, Ball Joint, Other Components)
• By Region (North America, Europe, Asia-Pacific, Rest of the World)

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Changes in the suspension technology
Suspension includes many components: shock absorbers, struts, leaf springs, coil springs, stabilizer bars, control arms, ball joints, torsional bars, and many more. All the vehicles must have a suspension system to provide smooth ride and reduce vibration caused by irregularities of road. Over a period, the automotive industry has experienced a significant change in the suspension technology, material, style, design, etc. There are countless styles of suspension components available worldwide featuring different advantages. At present, the development of lightweight suspension components is the key focus of automakers to meet stringent regulations of various countries.
The global suspension market in the automotive industry offers healthy growth prospects of 4.3% CAGR over the next five years to reach $64,050 million in 2021. Increasing annual production of passenger cars, light commercial vehicles, and medium & heavy-duty commercial vehicles, increasing gloal automotive fleet size, increasing need for lightweight suspension system to achieve stringent regulations, such as CAFÉ Standards, increasing customer expectation related to vehicle comfort, safety, stability, and control, and increasing need for suspension with reduced space are some of the major drivers of the market.

Passenger cars likely to witness the highest growth
Passenger car is expected to remain the largest segment for automotive suspension over the next five years. The segment is also likely to witness the highest growth during the same period driven by high annual production of passenger cars, large passenger car fleet size, increasing demand of lightweight suspension components, and continuous advancement in suspension components.

Active suspension system expected to witness highest growth
There are four types of suspension systems used in the automotive industry: passive suspension system, semi-active, active, and air suspension. Passive suspension system was the most widely used system type in all the vehicle segments in 2015, however, active suspension system is expected to possess the highest growth during the forecast period.
Semi-independent / independent architecture dominated the global automotive suspension market in 2015 in terms of value, followed by dependent architecture. Air suspension and double wishbone & multi-link (both part of semi-independent) are expected to witness the highest growth over the next five years.

Hydraulic / pneumatic based suspension is likely to remain the largest damping type
There are two types of damping systems used in the automotive industry: hydraulic / pneumatic and electromagnetic. Hydraulic / pneumatic based suspension is likely to remain the largest damping type during the forecast period. Electromagnetic damping is relative new technology and is rapidly gaining market acceptance mainly in the luxury and premium cars. Currently, it is a very small market but is likely to experience huge growth in the coming years.

Asia-Pacific region is likely to remain the largest market
Asia-Pacific dominated the global automotive suspension market in 2015 in terms of value, followed by Europe, North America, and RoW. The region is likely to remain the largest market during the forecast period; however, RoW is likely to be the fastest growing region, driven by expected recovery of Brazilian automotive industry after 2016 and upcoming assembly plants in Middle East and Africa regions.

Top market players
The global automotive suspension market is moderately consolidated with the presence of more than 200 global as well as regional players. Top 10 players are ZF Friedrichshafen AG, ThyssenKrupp AG, Benteler International AG, Magneti Marelli S.P.A., KYB Corporation, Tenneco Inc, Mubea Fahrwerksfedern GmbH, NHK Springs Co., Ltd, Mando Corp, and Rassini.

Why Stratview Research
Our report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
• Automotive Suspension market overview, industry life cycle analysis, supply chain analysis
• Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend (2010 – 2015) and forecast analysis (2016-2021) of each segment.
• Competitors’ market share, product portfolio and new launches.
• Growth opportunities in each segment.
• Emerging trends which will decide the future course of development.
• Strategic growth opportunities for the existing and new players
• Key success factors.

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