Press release
Automotive Suspension Market Size Worth USD 127.6 Billion by 2026
The increasing need to offer high quality driving experience along with enhanced comfort and safety drives the automotive suspension market growth. The increasing production of motor vehicles across the world, and growing popularity of luxury automobiles boosts the adoption of automotive suspension. The growing safety concerns have encouraged market players to integrate advanced automotive suspension systems in vehicles to improve the overall driving experience. Factors such as technological advancements, and use of light-weight material for suspension systems would fuel the automotive suspension market growth during the forecast period. New emerging markets, increasing demand of automobiles, and growing safety concerns are factors expected to influence the market in the coming years.
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Asia-Pacific is expected to lead the global automotive suspension market during the forecast period. Significant investment by market players to improve driving experience coupled with favorable regulations regarding transportation safety drive the growth of Automotive Suspension market in this region. Technological advancement and introduction of advanced automotive suspension systems by the market players has increased the acceptance of automotive suspension systems in the region. The rising demand for luxury vehicles, and economic growth in countries such as China and India boost the market growth in the region. Expansion of global players into these countries to tap market potential boosts the market growth.
The key players operating in the automotive suspension market include Multimatic Inc., Continental AG, Tenneco Inc., ZF TRW, Hendrickson USA, L.L.C, Thyssenkrupp AG, Magneti Marelli S.p.A, Sogefi SpA, WABCO Holdings Inc., and NHK Spring Co., Ltd. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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Polaris Market Research has segmented the Automotive Suspension Market report based on System, Vehicle Type, Component, Damping, Geometry and region:
Automotive Suspension Market Size and Forecast by System, 2018-2026
• Active Suspension
• Passive Suspension
• Semi-Active Suspension
Automotive Suspension Market Size and Forecast by Vehicle Type, 2018-2026
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
Automotive Suspension Market Size and Forecast by Component, 2018-2026
• Strut
• Shock Absorber
• Leaf Spring
• Ball Joint
• Air Spring
• Control Arm
• Coil Spring
• Others
Automotive Suspension Market Size and Forecast by Damping, 2018-2026
• Hydraulic
• Electromagnetic
Automotive Suspension Market Size and Forecast by Geometry, 2018-2026
• Independent Suspension
• Semi-Independent Suspension
• Dependent Suspension
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