Automotive Suspension Market estimated to grow at 4.3% CAGR in the forecast period (2016-2021)

Summary:
The report on the Automotive Suspension Market has been launched in Dec,2016 by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2016-2021. The report also offers insights into different market segments and other factors affecting the market.

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Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Automotive Suspension Market is expected to inflate at impressive CAGR of 4.3% by the forecast period (2016 – 2021).

As per the report, the market is segmented by:
• By Vehicles: Passenger Car, Light Commercial Vehicle, Medium & Heavy 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

The Table of Contents can be gone through here:
https://www.stratviewresearch.com/toc/191/automotive-suspension-market.html

Highlights of the Report:

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 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.

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.

Key Players of the Market

The market is consolidated in nature with five major players Benteler International AG, KYB Corporation, Thyssenkrupp AG, Tenneco Inc, Mando Corporation holding together the major share in the market, with Benteler International AG being the key player.
Other important firms are Benteler SGL, Continental AG, Wabco Holdings Inc., Magneti Marelli SpA, Mubea Fahrwerkstechnologien GmbH, Hendrickson International, Jamna Auto Industries, NHK Spring Co. Ltd., Rassini, Sogefi Group, ZF Friedrichshafen AG.

Features of the Report

The Report discusses about the working of the suspensions, the various types, and the growth of the suspensions in the global market. Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

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Stratview Research
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Direct: +1-313-307-4176

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This release was published on openPR.