Automotive Suspension Market 2021 Booming Across the Globe by Architecture, System Type, Actuation, Component OE & Aftermarket, Vehicle and Key Players Tenneco Inc. (US), Continental AG (Germany), thyssenkrupp AG (Germany), BENTELER (Austria)

This Automotive Suspension Market analysis report evaluates the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors, and Porter's Five Forces Analysis. Integrated approaches and the latest technology have been exploited for the best results while generating this report. Key elements covered in this business report are industry outlook along with critical success factors, industry dynamics, market definition, drivers and restraints, market segmentation, value chain analysis, key developments, application and technology outlook, regional or country-level analysis, and competitive landscape.

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 2026 The global automotive suspension market is expected to grow from USD 42.9 billion in 2021 and is projected to reach USD 50.7 billion in 2026, at a CAGR of 3.4% during the forecast period.

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The automotive suspension industry is dominated by global players and comprises several regional players including:

ZF Friedrichshafen AG (Germany), Tenneco Inc. (US), Continental AG (Germany), thyssenkrupp AG (Germany), BENTELER (Austria), KYB Corporation (Japan), Marelli (Japan), Mando Corporation (South Korea), and NHK Spring (Japan). The study includes an in-depth competitive analysis of these key players in the automotive suspension market with their company profiles, MnM view of the top five companies, recent developments, and key market strategies.

The outbreak of COVID-19 has severely impacted the overall supply chain of the automotive industry. The halt in production and logistics created due to the pandemic has affected raw material suppliers of the automotive industry. The pandemic has affected the overall growth of the sector in 2020, as major automotive players such as Fiat, Volkswagen, PSA Group, General Motors, and BMW had to suspend their production due to COVID-19 during the initial second quarters of 2020. This scenario impacted the automotive suspension market, especially in European & North American countries, as the growth of this market is directly related to the production of vehicles. However, the demand for suspension systems is expected to rise considering 2021 as the recovery period, where the automotive industry is expected to showcase growth, according to industry experts.

Air Suspension is estimated to be the fastest-growing market in architecture segment

The installation rate of air suspension has witnessed significant growth in buses in Asia Pacific. The air suspension system adopted in buses ensures comfort for passengers and maintains the vehicle height at the desired level during travel. Governments in countries such as China and India are focusing on fuel efficiency and comfortable public transport, which is further expected to drive the market for air suspension in buses during the forecast period.

Passenger Car is expected to be the largest market of the automotive suspension market, by vehicle type

The passenger cars segment is estimated to be the largest growing market in terms of value and volume. The suspension system is one of the essential systems in any type of vehicle. Hence, the growth of the suspension system is directly proportional to the production volume of passenger vehicles. The growing demand for comfort and safety features also has increased the installation of independent suspension systems in modern cars.

Asia Pacific is expected to be the largest market for automotive suspension

Asia Pacific is expected to be the largest market, by value. China, South Korea, and Japan are the leading vehicle-producing countries in the region with collectively producing ~88% of total vehicles in the region. The growth of the automotive suspension market in China can be primarily attributed to higher vehicle production and foreign direct investments (FDIs) in the form of alliances and joint ventures between international OEMs and Chinese partners. The infrastructural improvements in Asia Pacific could drive the demand for commercial vehicles in the region. Thus, Asia Pacific is expected to lead the automotive suspension market with more than 49.6% share in the global automotive suspension market.

The breakup of primary respondents

By Company: Tier 2 – 45%, Tier 1 – 40%, Others -15%
By Designation: C level executives - 25%, Directors/Vice-Presidents - 30%, Others – 45%
By Region: Europe - 30%, Asia Oceania - 50%, North America - 20%

Research Coverage

The study segments the automotive suspension market and forecasts the market size based on size based on system (passive suspension, semi-active suspension, and active suspension), active suspension market, actuation (hydraulically actuated and electronically actuated), architecture (MacPherson strut, double wishbone, multilink, twist beam/torsion beam, leaf spring suspension, air suspension), OE market, component (coil spring, air spring, shock dampener, strut, control arm, ball joint, rubber bushing, leaf spring, and sway bar/link stabilizer), aftermarket, component (shock absorber, strut, ball joint, leaf spring, control arm, coil spring), vehicle type (passenger cars, light commercial vehicles, trucks, and buses), electric & hybrid passenger car suspension, architecture (leaf spring suspension, air suspension, double wishbone, MacPherson strut, multilink, twist beam/torsion beam), electric & hybrid trucks and buses suspension, vehicle type (trucks and buses), and Region (Asia Pacific, North America, Europe, and the Rest of the World).

Key Benefits of Buying the Report:

The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the automotive suspension market and the sub-segments. This will also help the key players to identify the highest potential region and design its product portfolio as per the market requirements. A detailed study on PC, LCV and HCV automotive suspension is expected to help manufacturers to understand the potential market for them. This report also include various analysis like supply chain, average selling price analysis, patent analysis, revenue shift analysis, case study analysis, and porter’s analysis. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

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Table Of Contents

1 Introduction
1.1 Objectives
1.2 Market Definition
1.2.1 Inclusions & Exclusions
1.3 Market Scope
1.3.1 Years Considered In The Study
1.4 Summary Of Changes
1.5 Stakeholders

2 Research Methodology
2.1 Research Data
Figure 1 Research Design
Figure 2 Research Methodology Model
2.1.1 Secondary Data
2.1.1.1 List Of Key Secondary Sources To Estimate Vehicle Production
2.1.1.2 List Of Key Secondary Sources To Estimate Automotive Suspension Market
2.1.1.3 Key Data From Secondary Sources
2.1.2 Primary Data
Figure 3 Breakdown Of Primary Interviews: By Stakeholder, Designation, & Region
2.1.2.1 List Of Primary Participants
2.2 Market Estimation Methodology
Figure 4 Research Methodology: Hypothesis Building
2.2.1 Bottom-Up Approach
Figure 5 Automotive Suspension Market Size: Bottom-Up Approach (Architecture And Region)
Figure 6 Automotive Suspension Market Size: Bottom-Up Approach (Aftermarket By Component)
2.2.2 Top-Down Approach
Figure 7 Active Suspension Market Size: Top-Down Approach (Actuation Type)
2.2.3 Factor Analysis For Market Sizing: Demand And Supply Side
2.3 Data Triangulation
Figure 8 Data Triangulation Methodology
2.4 Factor Analysis
2.5 Research Assumptions
2.5.1 Assumptions
2.5.2 Assumptions: Architecture Type
2.5.3 Market Assumptions
2.6 Research Limitations

3 Executive Summary
3.1 Introduction
3.1.1 Pre- Vs Post-Covid-19 Scenario
Figure 9 Pre- & Post-Covid-19 Scenario: Automotive Suspension Market, 2018–2026 (Usd Million)
Table 1 Automotive Suspension Market: Pre- Vs. Post-Covid-19 Scenario, 2018–2026 (Usd Million)
3.2 Report Summary
Figure 10 Automotive Suspension Market, By Region, 2021 Vs. 2026 (Usd Million)

4 Premium Insights
4.1 Attractive Opportunities In Air Suspension Market
Figure 11 Rising Awareness About Passenger Comfort Expected To Drive Automotive Suspension Market
4.2 Automotive Suspension Market Size, By System
Figure 12 Passive Systems Estimated To Account For The Largest Share Of The Market In 2021
4.3 Automotive Suspension Market, By Architecture
Figure 13 Air Suspension Projected To Grow At The Highest Cagr During The Forecast Period
4.4 Automotive Suspension Market, By Vehicle Type
Figure 14 Lcv Projected To Grow At The Highest Cagr During The Forecast Period
4.5 Automotive Suspension Oe Market, By Component
Figure 15 Control Arm And Air Spring Projected To Grow At The Highest Cagr During The Forecast Period
4.6 Automotive Suspension Aftermarket, By Component
Figure 16 Struts Segment Projected To Lead The Automotive Suspension Aftermarket
4.7 Electric & Hybrid Trucks And Buses Suspension Market, By Vehicle Type
Figure 17 Electric & Hybrid Trucks Expected To Grow At A Higher Cagr During Forecast Period
4.8 Active Suspension Market, By Actuation
Figure 18 Electronically Actuated Segment Projected Grow At A Higher Cagr During The Forecast Period
4.9 Automotive Suspension Market, By Region
Figure 19 Asia Pacific Estimated To Account For The Largest Share Of The Automotive Suspension Market In 2021

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 20 Automotive Suspension Market Dynamics
5.2.1 Drivers
5.2.1.1 Increase In Demand For Vehicle Comfort And Safety
5.2.2 Conventional Vs Advanced Suspension Types Of Growth Rates, By Volume, 2021-2026
5.2.2.1 Increasing Adoption Of Air Suspension Systems In Hcvs
Figure 21 Global Air Suspension Market Yoy Growth Rate, 2021-2026
5.2.3 Restraints
5.2.3.1 High Cost Of Air Suspension
Figure 22 Passenger Car Air Suspension Penetrations, 2018-2026 (By Volume)
5.2.3.2 Lack Of Standardization Of Independent Suspension Systems
5.2.4 Opportunity
5.2.4.1 Increasing Sale Of Electric Vehicles
Figure 23 Global Ev Car Sales, 2017-2020 (Thousand Units)
5.2.4.2 Development Of Regenerative Suspension System
Figure 24 Energy Potential Of Regenerative Suspension, By Vehicle Type
5.2.5 Challenges
5.2.5.1 High Initial And Maintenance Costs Of Advanced Suspension Systems
5.2.5.2 Counterfeit Suspension Products In The Aftermarket
5.2.5.3 Overcoming Steer Torque
5.3 Automotive Suspension Market Scenario
Figure 25 Automotive Suspension Market Scenario, 2018–2026 (Usd Million)
5.3.1 Most Likely Scenario
Table 2 Automotive Suspension Market (Realistic Scenario), By Region, 2018–2026 (Usd Million)
5.3.2 Low-Impact Scenario
Table 3 Automotive Suspension Market (Low-Impact Scenario), By Region, 2018–2026 (Usd Million)
5.3.3 High-Impact Scenario
Table 4 Automotive Suspension Market (High-Impact Scenario), By Region, 2018–2026 (Usd Million)
5.4 Porter’s Five Forces Analysis
Figure 26 Porter’s Five Forces Analysis: Presence Of Established Global Players Increases The Degree Of Competition
5.4.1 Porter’s Five Forces Analysis
5.4.2 Threat Of Substitutes
5.4.3 Threat Of New Entrants
5.4.4 Bargaining Power Of Buyers
5.4.5 Bargaining Power Of Suppliers
5.4.6 Intensity Of Competitive Rivalry
5.5 Automotive Suspension Market Ecosystem
Table 5 Automotive Suspension Market: Role Of Companies In Ecosystem
5.6 Supply Chain Analysis
Figure 27 Supply Chain Analysis: Automotive Suspension Market
5.7 Average Selling Price Trend
5.7.1 Average Regional Price Trend: Light-Duty Vehicles Suspension System (Usd/Unit), 2021
5.7.2 Average Regional Price Trend: Truck Suspension System (Usd/Unit), 2021
5.8 Patent Analysis
5.8.1 Applications And Patents Granted, 2018–2020
5.9 Revenue Shift For Automotive Suspension Manufacturers
Figure 28 Shift Of Focus From Passive Toward Active Suspension Systems
5.1 Case Study Analysis
5.10.1 Hendrickson Trailer Commercial Vehicle Systems
5.10.2 Vehicle Suspension Harness System
5.11 Trade Analysis
5.11.1 Import And Export Data Of Suspension Systems And Parts, By Country, 2019 (Usd)
Table 6 Import Trade Data, By Country, 2019
Table 7 Export Trade Data, By Country, 2019

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