Driven by the development of new composite suspension applications, Automotive Composite Suspension Components Market is expected to grow beyond US$ 100 million

Market & Growth Prognosis: Analyzing the market over a period of 2012-17, Stratview Research goes to the crux of the issues shaping the market and estimates the most probable future growth rate for the Automotive Composite Suspension Components Market during the period 2018-23.

Stratview Research triangulates the market to grow at a healthy CAGR over the next five years and expects the market to breach the barrier of US$ 100 million by 2023.

The Diverse Stand Points

The true picture of the market shall not emerge till the time the market is analyzed from various point of views. Each vantage point gives better understanding of the market. The market of Automotive Composite Suspension Components has been viewing from various perspectives such as:

Dissection By (Segments)
1. Component Type (Coil Springs, Leaf Springs, Stabilizer Bar, Suspension Arm, Others)
2. Vehicle Type (Passenger Cars, Light Commercial Vehicles, Medium- & Heavy-Duty Commercial Vehicle, Others)
3. Manufacturing Process Type (Compression Molding Process, HP-RTM Process, Prepreg Layup Process, Other Processes)
4. By Region (North America, Europe, Asia-Pacific and Rest of the World)

Each view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.

The answers to the prominent questions which are evinced out of above slicing of the market are:
● Which are the best performing segments of the market?
● Which is the most dominant region?
● Which material is the most promising?
● Who are the movers and shakers of the market?
● What are the regional growth hotspots?
● What are the segmental growth forecasts?

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The Factors Driving the market

The global automotive composite suspension components market is still at a nascent stage but possesses significant growth potential over the next five years to reach US$ 100 million in 2023. Organic growth of automobile production, growing preference for composite components in passenger and light commercial vehicles, development of new composite suspension applications, advancement in composites technology, and stringent government regulations regarding fuel efficiency and carbon emission reductions are the major factors that are burgeoning the demand for composite suspension components in the automotive industry.
Composite suspension components offer several benefits over steel components, such as lightweight, high durability, better vibration energy absorption, and excellent fatigue resistance. For example; composite leaf spring is up to five times more durable than that of similarly sized steel leaf springs at just the 1/7th weight.

The rise of Composite leaf spring

The global automotive composite suspension components market is segmented based on component type as Leaf Spring, Coil Spring, Suspension Arm, Stabilizer Bar, and Other Components. Composite leaf spring is expected to remain the largest segment of the market during the forecast period. Composite leaf springs are mainly used in passenger cars and light commercial vehicles. Pickup, Van, and SUVs are the major vehicle types that are using composite leaf springs on either transversal or longitudinal position depending on requirements, vehicle design, etc. All the major OEMs are evaluating the usage of composite leaf springs in their major Pickup, VAN, and SUV models.

Based on the vehicle type, the global automotive composite suspension components market is segmented as passenger car, light commercial vehicle (LCV), medium & heavy duty commercial vehicle (M&HCV), and others. LCV currently dominates the global automotive composite suspension components market because of higher usage of composite leaf springs in LCVs. The passenger car segment is projected to witness the highest growth during the forecast period, driven by an increasing usage of leaf springs and coil springs.

Driven by demand, Europe has the hegemony over the market

Based on regions, Europe is expected to remain the largest market for composite suspension components in the automotive industry over the next five years, driven by higher usage of composite leaf springs in LCVs. North America and Asia-Pacific are likely to witness higher growth rates over the next five years, driven by a host of factors including gradual shift of assembly plants of OEMs in these regions, increasing penetration of composite leaf springs, and market entry of local composite leaf spring manufacturers.

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● Strategic segmentation
● Market analysis: Growth drivers and constraints, Porter’s five forces
● analysis, SWOT analysis
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● Market trend and forecast analysis
● Future Growth Boulevards

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