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Automotive Suspension Parts Market Analysis By Industry Value, Market Size, Top Companies And Growth Forecast by 2027
Automotive Suspension Parts Market
In recent years, a tremendous amount of engineering effort has gone into the development of vehicles with unparalleled springs, linkages, and shock absorbers. The interplay of these tree suspension components is responsible for fostering resilience, toughness, and comfort in motor vehicles. Automotive engineers consider suspension parts as the most crucial element in decking up the comfort and safety of vehicles.
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It is evident from the aforementioned discourse that the automotive suspension parts hold humongous utility across the motor vehicle manufacturing spectrum. Automobile companies are wary of the heterogeneity of terrains across various regional markets where their cars are offloaded and sold. Therefore, the need to manufacture cars that can easily dampen shocks across varying terrestrial terrains and roads remains uncontested. Automotive suspension parts are indispensable to this end, and are expected to attract stupendous demand in the following years.
Front- and Rear-End Suspension Parts to Experience Abundant Demand
The collective deployment of front- and rear-end suspension parts helps in fostering greater comfort and smoother driving experiences for passengers. For this reason, automotive companies are expected to invest in cutting-edge front- and rear-end suspension technologies. Furthermore, these suspension systems help in ensuring greater stability for the vehicle, especially during braking and cornering. In recent years, the automotive industry has shown greater inclination towards investing in developing lean, agile, and low-weight suspension systems. This factor, coupled with the need for minimum deflection and better steering geometry for vehicles, has aided market expansion.
Some of the notable companies in the global automotive suspension parts market
1. Tenneco Inc.
2. ZF Friedrichshafen AG
3. BWI Group
4. Continental AG
5. Duroshox
6. Datsons Engineering Works Pvt. Ltd.
7. DMA Sales Inc.
8. Samavardhana Motherson Group
9. KYB
10. FCS Auto
11. Halla Holdings Corp.
12. Hitachi Automotive Systems Ltd.
13. Kobe Suspension
14. LEACREE Company
15. Magneti Marelli S.p.A.
16. QBAutomotive
17. Ride Control
18. Robert Bosch GmbH
19. Brinn Inc.
20. Endurance Technologies Limited.
Hydraulic Suspension Technology Continues to Woo Attention from Consumers
In recent years, the popularity of hydraulic suspension technology has sent ripples across the entire industry. Despite their traditional connotation, this technology is the most apt resort for meeting the suspension requirements of mid-range vehicles. This technology could make for a splendid market opportunity for automotive suspension parts the form of heavy demand for mid-range vehicles. Gas-charged suspension technology, on the other hand, continues to be the sought-after choice for luxury vehicles that require high-performance assurance. The collective vitality of the aforementioned technologies has given an impetus to the growth prospects of the global automotive suspension parts market.
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Technical Innovation to Fuel the Growth of the European Market; Asia Pacific to Follow Suit
Countries such as Germany and France are leading the pack in terms of fostering innovation in automotive manufacturing. Despite the disruptions brought about by the launch of connected and self-driving cars, Germany is navigating the odds by reinventing intricate solutions to unprecedented challenges within automotive engineering. This factor shall help vendors of automotive suspension parts in pushing the boundaries of market expansion. Asia Pacific is also treading along a path of rapid reinvention and innovation in automotive engineering, furthering the growth of the regional market.
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