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Motor Vehicle Steering and Suspension Components Market 2023-32 : Industry Analysis, Size, Share, Growth And Forecast | Bosch, Hyundai, TennaCo., Denso, Hella, JTEKT, Knorr-Bremse, Nexteer Automotive, Thyssenkrupp, and ZF Friedrichshafen.
Motor Vehicle Steering and Suspension Components Market
As per the motor vehicle steering and suspension components market report by The Business Research Company, the growth of the motor vehicle steering and suspension components market (except springs) is positively affected by the poor quality of roads. The steering and suspension components are used to maintain the stability of the motor vehicle on rough roads. Rough roads with potholes and poor surfaces cause wear and tear of steering and suspension components in the long run, thus increasing the risk of accidents.
The global motor vehicle steering and suspension components market grew from $90.91 billion in 2022 to $100.46 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The motor vehicle steering and suspension components market is expected to grow from $147.03 billion in 2027 at a CAGR of 10.0%.
Read More On The Motor Vehicle Steering And Suspension Components Market Report Here:
https://www.thebusinessresearchcompany.com/report/motor-vehicle-steering-and-suspension-components-global-market-report
Major players in the motor vehicle steering and suspension components market are Bosch, Hyundai, TennaCo., Denso, Hella, JTEKT, Knorr-Bremse, Nexteer Automotive, Thyssenkrupp, and ZF Friedrichshafen.
The motor vehicle steering and suspension components market is segmented -
1) By Type: Steering Components, Suspension Components
2) By Application: Commercial Vehicle, Passenger Car
3) By End Use: OEM, Aftermarket
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The motor vehicle steering system, which consists of several pieces and linkages, enables a driver to direct a vehicle. A motor vehicle's suspension system helps the driver maintain total control while isolating the passengers from vibrations caused by the vehicle's passage over the road's contours.
The Table Of Content For The Motor Vehicle Steering And Suspension Components Market Include:
1. Executive Summary
2. Motor Vehicle Steering and Suspension Components Market Characteristics
3. Motor Vehicle Steering and Suspension Components Market - Macro Economic Scenario
4. Motor Vehicle Steering and Suspension Components Market Size And Growth
5. Motor Vehicle Steering and Suspension Components Market Segmentation
……
27. Key Mergers And Acquisitions In The Motor Vehicle Steering and Suspension Components Market
28. Motor Vehicle Steering and Suspension Components Market Trends And Strategies
29. Motor Vehicle Steering and Suspension Components Market Future Outlook and Potential Analysis
30. Appendix
The "Global Motor Vehicle Steering And Suspension Components Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.
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