Automotive Suspension Market Overview by Top Players Like Continental (Germany), Mando (South Korea), ZF (Germany) and ThyssenKrupp (Germany)
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The global automotive suspension market, is projected to grow at a CAGR of 3.88%, during the forecast period, from an estimated USD 49.17 Billion in 2016 to USD 68.84 Billion by 2025. The automotive suspension market is projected to grow due to the rising demand for comfort & luxury, increased fuel efficiency, decreased emission limits, and increase in vehicle production.
The key factor restraining the growth of the automotive suspension market is the high development cost of advanced suspension and lack of standardization in the suspension technologies. The choice of suspension system technologies varies in different regions with a preference for different vehicle types and cost.
Automotive suspension market has been segmented on basis of architecture, system, active suspension actuation, ICE vehicle, electric & hybrid vehicle, component, aftermarket component, and region. The air suspension estimated to be fastest and largest in automotive suspension market, by architecture, in terms of value. Increasing demand for cabin comfort, better control, manoeuvrability, and stability of vehicle has led to increasing demand for air suspension systems.
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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.
The active suspension system is the fastest growing market, by system, in terms of value. Majority of the present-day vehicles are equipped with passive suspension systems as they are easy to install, repair, and are economical than the semi-active and active systems. However, with the advancement in suspension technology, active suspension will show better growth than the passive suspension as it enhances the comfort and handling of vehicles.
Key Target Audience
• Manufacturers of automotive suspension systems
• Suspension system component manufacturers
• Suppliers of raw material for suspension system component
• Dealers and distributors of automotive suspension systems
• Industry associations
• Vehicle manufacturers/OEMs
• Automobile industry as end-user
• Government agencies
• Compliance regulatory authorities
Click Here for Discount on “Automotive Suspension Market By Architecture (MacPherson Strut, Double Wishbone, Multi-link, Twist Beam, Leaf Spring, Air Suspension), System Type, Actuation, Component OE & Aftermarket, Vehicle (ICE, BEV, HEV, PHEV), and Region-Global Forecast To 2025” report @ https://www.reportsnreports.com/contacts/discount.aspx?name=1422645 .
Passenger car is largest and fastest growing market, by vehicle type, in terms of value. The demand for automotive suspension in passenger cars is projected to grow owing to increasing population and lack of public transportation in the countries such as India and China. HEV is the largest market, by electric & hybrid vehicle type, in terms of value.
The hydraulically actuated is the largest market, by actuation, in terms of value. The present-day vehicles have hydraulic actuation as it is efficient, robust, and affordable. Owing to the increasingly stringent emission norms and growing pollution levels, the adoption of electric & hybrid vehicles has increased across the globe.
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