Automotive Suspension Market Assessing the Risks and Rewards of Investing in the Market in 2023

The Global Automotive Suspension Market was valued at USD 59.2 billion in 2021 and is projected to reach USD 79.5 billion by 2030, growing at a CAGR of 3.9% during the forecast period from 2022 to 2030. The market is driven by factors such as the increasing demand for vehicle comfort and safety, the need to improve vehicle control, and the desire to offer a smooth ride experience. Furthermore, the adoption of air suspension systems in heavy commercial vehicles (HCVs) and the changing dynamics of automotive production will contribute to the growth of the global automotive suspension industry in the future.

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Major players in the global automotive suspension market include ZF Friedrichshafen AG, Thyssenkrupp AG, BENTELER, Tenneco Inc, Continental AG, KYB Corporation, Mando Corporation, Magneti Marelli S.p.A., Showa Corporation, Ohlins USA Inc., Endurance Technologies, and Hendrickson.

The objective of this study is to define the market sizes of different segments and countries in recent years and provide forecasts for the next eight years. The report incorporates both qualitative and quantitative aspects of the industry within each region and country included in the study. It provides detailed information about the driving factors and challenges that will define the future growth of the market. Additionally, the report analyzes the available opportunities in micro markets for stakeholders to invest in, along with a detailed analysis of the competitive landscape and product offerings of key players.

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The market is segmented based on ICE (Internal Combustion Engine) vehicle type, electric and hybrid vehicle type, and architecture. The ICE vehicle types considered in the report are passenger cars, light commercial vehicles (LCV), and heavy commercial vehicles (HCV). The electric and hybrid vehicle types include battery electric vehicles (BEV), hybrid electric vehicles (HEV), and plug-in hybrid electric vehicles (PHEV). The architecture of the suspension systems includes MacPherson Strut, Double Wishbone, MultiLink, Twist Beam/Torsion Beam, Leaf Spring Suspension, and Air Suspension.

The market is further segmented into regions, including North America (U.S., Canada, Mexico), Europe (UK, Germany, France, Spain, Italy, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and Rest of Asia), South America (Brazil, Argentina, and Rest of South America), and the Middle East & Africa (UAE, Saudi Arabia, South Africa, and Rest of MEA).

The years considered for this study are 2017, 2020 (historical years), 2021 (base year), and the forecast period is from 2022 to 2030.

The target audience for this market study includes key consulting companies and advisors, large, medium-sized, and small enterprises, venture capitalists, value-added resellers (VARs), third-party knowledge providers, investment bankers, and investors.

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