Driven by the increasing need for lightweight suspension system, Automotive Suspension Market is expected to grow beyond $64,050 million

Market & Growth Prognosis: Analyzing the market over a period of 2010-15 Stratview Research goes to the crux of the issues shaping the market and estimates the most probable future growth rate for the Automotive Suspension Market during the period 2016-21.

Stratview Research triangulates the market to grow at a healthy CAGR of 4.3% over the next five years and expects the market to breach the barrier of $64,050 million by 2021.

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 Suspension has been viewing from various perspectives such as:

Dissection By (Segments)
1. Vehicle Type (Passenger Cars, Light Commercial Vehicles, Medium- & Heavy-Duty Commercial Vehicle, Others)
2. System Type (Passive Suspension System, Semi-Active Suspension System, Active Suspension System, Air Suspension System)
3. Architecture Type (Dependent, Semi-Independent / Independent)
4. Component Type (Coil Spring, Leaf Spring, Air Spring, Shock Absorber, Strut, Control Arm, Ball Joint, Other Components)
5. 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

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.

The rise of active suspension system

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.

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.

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.

Driven by demand, Asia-Pasific has the hegemony over the 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.

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

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